Sevierville FHA Loan Rates, Closing Costs & Stats

Sevierville, TN

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Sevierville's 59 lenders originated 225 FHA loans during 2023. The total origination value was $57,505,000, with an average FHA loan value of $255,578.

    Sevierville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Sevierville averaged 7.33% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Sevierville's average FHA mortgage closing costs are $8,226.

    The average rate for the prior week (2024-04-12) was 7.12% and one month ago for the week of 2024-03-15, the average rate was 6.79%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.15%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Sevierville FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Sevierville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MORTGAGE INVESTORS GROUP, INC. 26 6.49% $10,215
    QUICKEN LOANS, LLC 23 6.25% $12,082
    UNITED WHOLESALE MORTGAGE, LLC 13 6.28% $14,959
    FIRST COMMUNITY MORTGAGE, INC. 10 6.15% $9,720
    MOVEMENT MORTGAGE, LLC 8 6.94% $13,396
    LOANDEPOT.COM, LLC 8 6.58% $12,325
    Mr. Cooper ( Nationstar Mortgage ) 6 6.08% $14,304
    CMG MORTGAGE, INC. 6 6.92% $13,463
    CROSSCOUNTRY MORTGAGE, LLC 5 6.74% $13,482
    PENNYMAC LOAN SERVICES, LLC 5 6.02% $16,932
    BROKER SOLUTIONS, INC. 5 6.72% $13,542
    CARDINAL FINANCIAL 5 6.93% $11,062
    Equity Prime Mortgage LLC 4 6.25% $12,398
    NEWREZ LLC 3 5.88% $13,137
    AMERICAN FINANCIAL NETWORK, INC. 3 7.00% $12,235
    EVERETT FINANCIAL, INC. 3 6.96% $12,949
    Bank of England 3 6.71% $12,300
    Regions Bank 3 5.54% $11,222
    AMERISAVE MORTGAGE CORPORATION 3 6.38% $18,686
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.58% $9,598
    STOCKTON MORTGAGE CORPORATION 3 6.46% $9,384
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.92% $10,075
    ISERVE RESIDENTIAL LENDING, LLC 2 6.50% $18,162
    Flagstar Bank, FSB 2 6.40% $12,121
    U.S. Bank 2 6.63% $10,830
    Carrington Mortgage Services, LLC 2 6.13% $15,882
    NATIONWIDE MORTGAGE BANKERS, INC. 2 6.13% $15,265
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.25% $9,634
    THRIVE MORTGAGE, LLC 1 7.25% $12,350
    TOWNE MORTGAGE COMPANY 1 5.75% $9,692
    Trustmark National Bank 1 6.50% $10,264
    Sierra Pacific Mortgage Company, Inc. 1 7.25% $12,301
    AHL FUNDING 1 7.00% $16,722
    Alcova Mortgage LLC 1 7.25% $9,823
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.50% $9,507
    Barrington Bank & Trust Company, N.A. 1 5.75% $6,940
    COMPASS MORTGAGE, INC. 1 6.13% $12,758
    EMM LOANS LLC 1 5.88% $27,155
    ENDEAVOR CAPITAL, LLC. 1 6.25% $14,181
    FirstBank 1 6.63% $11,906
    First Federal Bank 1 5.63% $16,003
    FREEDOM MORTGAGE CORPORATION 1 7.25% $15,009
    GENEVA FINANCIAL, LLC 1 7.13% $25,881
    GUILD MORTGAGE COMPANY 1 6.13% $16,815
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.88% $10,709
    INTERLINC MORTGAGE SERVICES, LLC 1 7.13% $11,288
    LADERA LENDING, INC. 1 5.75% $18,644
    Nations Lending Corporation 1 5.63% $12,073
    NFM, INC. 1 6.00% $11,501
    North American Savings Bank, F.S.B. 1 6.75% $9,301
    Northpointe Bank 1 5.75% $10,481
    Plains Commerce Bank 1 6.38% $4,804
    PLAZA HOME MORTGAGE, INC. 1 6.50% $9,961
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.75% $7,476
    Princeton Mortgage Corporation 1 6.75% $15,984
    RANLIFE, INC. 1 6.13% $20,849
    RELIANCE FIRST CAPITAL, LLC 1 6.88% $12,757
    1ST SIGNATURE LENDING, LLC 1 6.63% $17,843
    SmartBank 1 7.00% $8,278

    The top Sevierville FHA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 26 FHA loans originated. Their average total fees are $10,215, which is $1,867 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Sevierville FHA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. ($9,720), MORTGAGE INVESTORS GROUP, INC. ($10,215), QUICKEN LOANS, LLC ($12,082), UNITED WHOLESALE MORTGAGE, LLC ($14,959) and .

    The lowest rate Sevierville FHA lenders (with over 10 loans originated) are FIRST COMMUNITY MORTGAGE, INC. (6.15%), QUICKEN LOANS, LLC (6.25%), UNITED WHOLESALE MORTGAGE, LLC (6.28%), MORTGAGE INVESTORS GROUP, INC. (6.49%) and .

    Sevierville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SEVIERVILLE, TN SEVIER 2022 $420,680 $538,650 $651,050 $809,150
    SEVIERVILLE, TN SEVIER 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Sevierville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $259,900 (8.3%) $341,150 (12.3%) 0.00 869
    2018-02-01 $259,900 (5.0%) $340,126 (9.6%) 0.00 841
    2018-03-01 $259,000 (3.6%) $345,937 (7.6%) 0.00 837
    2018-04-01 $260,169 (4.1%) $353,688 (10.1%) 0.00 816
    2018-05-01 $259,900 (1.9%) $353,681 (8.7%) 0.00 833
    2018-06-01 $264,900 (3.9%) $357,073 (9.6%) 0.00 863
    2018-07-01 $264,900 (3.9%) $365,810 (12.0%) 0.00 864
    2018-08-01 $264,900 (1.9%) $366,851 (12.1%) 0.00 872
    2018-09-01 $264,900 (1.9%) $368,831 (11.4%) 0.00 874
    2018-10-01 $269,900 (3.9%) $374,051 (12.0%) 0.00 847
    2018-11-01 $274,900 (6.2%) $375,550 (12.6%) 0.00 836
    2018-12-01 $274,900 (5.8%) $383,867 (14.4%) 0.00 796
    2019-01-01 $274,938 (5.8%) $385,655 (13.1%) 0.00 744
    2019-02-01 $277,000 (6.6%) $397,787 (17.0%) 0.00 711
    2019-03-01 $288,471 (11.4%) $411,231 (18.9%) 0.00 702
    2019-04-01 $299,900 (15.3%) $426,505 (20.6%) 0.00 689
    2019-05-01 $306,675 (18.0%) $429,694 (21.5%) 0.00 693
    2019-06-01 $324,900 (22.7%) $438,688 (22.9%) 0.00 705
    2019-07-01 $315,225 (19.0%) $434,671 (18.8%) 0.00 694
    2019-08-01 $321,545 (21.4%) $437,605 (19.3%) 0.00 685
    2019-09-01 $331,364 (25.1%) $448,412 (21.6%) 0.00 699
    2019-10-01 $340,750 (26.3%) $455,620 (21.8%) 0.00 711
    2019-11-01 $345,000 (25.5%) $466,257 (24.2%) 0.00 712
    2019-12-01 $358,500 (30.4%) $492,863 (28.4%) 0.00 665
    2020-01-01 $363,650 (32.3%) $501,027 (29.9%) 0.00 623
    2020-02-01 $369,900 (33.5%) $507,270 (27.5%) 0.00 574
    2020-03-01 $368,746 (27.8%) $507,913 (23.5%) 0.00 580
    2020-04-01 $354,950 (18.4%) $496,226 (16.4%) 0.00 713
    2020-05-01 $370,000 (20.7%) $504,554 (17.4%) 0.00 689
    2020-06-01 $399,900 (23.1%) $519,150 (18.3%) 0.00 641
    2020-07-01 $422,100 (33.9%) $554,973 (27.7%) 0.00 584
    2020-08-01 $440,000 (36.8%) $571,248 (30.5%) 0.00 501
    2020-09-01 $454,500 (37.2%) $595,227 (32.7%) 0.00 397
    2020-10-01 $469,900 (37.9%) $627,881 (37.8%) 0.00 331
    2020-11-01 $439,975 (27.5%) $601,400 (29.0%) 0.00 319
    2020-12-01 $479,700 (33.8%) $643,380 (30.5%) 0.00 324
    2021-01-01 $489,900 (34.7%) $655,255 (30.8%) 0.00 305
    2021-02-01 $650,000 (75.7%) $689,586 (35.9%) 0.00 379
    2021-03-01 $650,000 (76.3%) $707,437 (39.3%) 0.00 403
    2021-04-01 $650,000 (83.1%) $717,195 (44.5%) 0.00 451
    2021-05-01 $650,000 (75.7%) $712,609 (41.2%) 0.00 474
    2021-06-01 $588,425 (47.1%) $725,379 (39.7%) 0.00 436
    2021-07-01 $594,000 (40.7%) $729,494 (31.5%) 0.00 466
    2021-08-01 $584,725 (32.9%) $734,006 (28.5%) 0.00 452
    2021-09-01 $540,750 (19.0%) $710,159 (19.3%) 0.00 427
    2021-10-01 $564,000 (20.0%) $781,375 (24.5%) 0.00 399
    2021-11-01 $599,900 (36.4%) $828,115 (37.7%) 0.00 369
    2021-12-01 $661,975 (38.0%) $816,238 (26.9%) 0.00 364
    2022-01-01 $698,500 (42.6%) $809,366 (23.5%) 0.00 323
    2022-02-01 $729,900 (12.3%) $891,367 (29.3%) 0.00 328
    2022-03-01 $745,988 (14.8%) $961,374 (35.9%) 0.00 367
    2022-04-01 $765,000 (17.7%) $1,001,604 (39.7%) 0.00 481
    2022-05-01 $781,250 (20.2%) $970,753 (36.2%) 0.00 692
    2022-06-01 $760,830 (29.3%) $945,673 (30.4%) 0.00 899
    2022-07-01 $749,900 (26.3%) $926,731 (27.0%) 0.00 1,018
    2022-08-01 $744,425 (27.3%) $917,538 (25.0%) 0.00 998
    2022-09-01 $724,500 (34.0%) $906,635 (27.7%) 0.00 971
    2022-10-01 $744,450 (32.0%) $919,732 (17.7%) 0.00 951
    2022-11-01 $731,750 (22.0%) $907,244 (9.6%) 0.00 889
    2022-12-01 $725,000 (9.5%) $901,910 (10.5%) 0.00 781
    2023-01-01 $749,900 (7.4%) $915,260 (13.1%) 0.00 680
    2023-02-01 $749,450 (2.7%) $919,428 (3.2%) 0.00 677
    2023-03-01 $749,452 (0.5%) $932,953 (-3.0%) 0.00 692
    2023-04-01 $749,950 (-2.0%) $943,794 (-5.8%) 0.00 765
    2023-05-01 $739,950 (-5.3%) $925,956 (-4.6%) 0.00 870
    2023-06-01 $742,440 (-2.4%) $936,121 (-1.0%) 0.00 988
    2023-07-01 $745,000 (-0.7%) $935,061 (0.9%) 0.00 1,019
    2023-08-01 $730,000 (-1.9%) $914,534 (-0.3%) 0.00 1,121
    2023-09-01 $732,450 (1.1%) $928,965 (2.5%) 0.00 1,155
    2023-10-01 $749,000 (0.6%) $930,845 (1.2%) 0.00 1,144
    2023-11-01 $724,950 (-0.9%) $918,068 (1.2%) 0.00 1,163
    2023-12-01 $735,900 (1.5%) $926,109 (2.7%) 0.00 1,154
    2024-01-01 $734,950 (-2.0%) $916,425 (0.1%) 0.00 1,049
    2024-02-01 $719,575 (-4.0%) $883,139 (-4.0%) 0.00 1,097
    2024-03-01 $699,977 (-6.6%) $869,051 (-6.9%) 0.00 1,210
    Sevierville's median listing price for 2024-03-01 was $699,977, a difference of $-49,475 (-6.6%) versus the prior year and $-19,598 versus the prior month.

    Sevierville's median listing price comes in at 0% of the national average.

    Sevierville's average listing price for 2024-03-01 was $869,051, a difference of $-63,902 (-6.9%) versus the prior year and $-14,088 versus the prior month.

    For the 2024-03-01 period, Sevierville had 1,210 MLS listings, a difference of 113 listings (10%) versus the prior month and 518 listings (75%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Sevierville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,900 sqft
    2018-02-01 0 days 1,900 sqft
    2018-03-01 0 days 1,854 sqft
    2018-04-01 0 days 1,900 sqft
    2018-05-01 0 days 1,900 sqft
    2018-06-01 0 days 1,900 sqft
    2018-07-01 0 days 1,907 sqft
    2018-08-01 0 days 1,937 sqft
    2018-09-01 0 days 1,932 sqft
    2018-10-01 0 days 2,003 sqft
    2018-11-01 0 days 1,960 sqft
    2018-12-01 0 days 1,972 sqft
    2019-01-01 0 days 1,968 sqft
    2019-02-01 0 days 2,022 sqft
    2019-03-01 0 days 2,077 sqft
    2019-04-01 0 days 2,096 sqft
    2019-05-01 0 days 2,089 sqft
    2019-06-01 0 days 2,076 sqft
    2019-07-01 0 days 2,086 sqft
    2019-08-01 0 days 2,107 sqft
    2019-09-01 0 days 2,118 sqft
    2019-10-01 0 days 2,126 sqft
    2019-11-01 0 days 2,084 sqft
    2019-12-01 0 days 2,140 sqft
    2020-01-01 0 days 2,151 sqft
    2020-02-01 0 days 2,091 sqft
    2020-03-01 0 days 2,094 sqft
    2020-04-01 0 days 2,000 sqft
    2020-05-01 0 days 2,016 sqft
    2020-06-01 0 days 2,158 sqft
    2020-07-01 0 days 2,273 sqft
    2020-08-01 0 days 2,261 sqft
    2020-09-01 0 days 2,186 sqft
    2020-10-01 0 days 2,240 sqft
    2020-11-01 0 days 2,168 sqft
    2020-12-01 0 days 2,295 sqft
    2021-01-01 0 days 2,241 sqft
    2021-02-01 0 days 2,385 sqft
    2021-03-01 0 days 2,427 sqft
    2021-04-01 0 days 2,332 sqft
    2021-05-01 0 days 2,210 sqft
    2021-06-01 0 days 2,106 sqft
    2021-07-01 0 days 2,092 sqft
    2021-08-01 0 days 2,094 sqft
    2021-09-01 0 days 2,038 sqft
    2021-10-01 0 days 2,088 sqft
    2021-11-01 0 days 2,275 sqft
    2021-12-01 0 days 2,299 sqft
    2022-01-01 0 days 2,058 sqft
    2022-02-01 0 days 2,058 sqft
    2022-03-01 0 days 2,066 sqft
    2022-04-01 0 days 2,088 sqft
    2022-05-01 0 days 2,069 sqft
    2022-06-01 0 days 2,037 sqft
    2022-07-01 0 days 2,031 sqft
    2022-08-01 0 days 2,011 sqft
    2022-09-01 0 days 2,019 sqft
    2022-10-01 0 days 2,080 sqft
    2022-11-01 0 days 2,049 sqft
    2022-12-01 0 days 2,057 sqft
    2023-01-01 0 days 2,041 sqft
    2023-02-01 0 days 2,023 sqft
    2023-03-01 0 days 2,016 sqft
    2023-04-01 0 days 2,045 sqft
    2023-05-01 0 days 2,040 sqft
    2023-06-01 0 days 2,033 sqft
    2023-07-01 0 days 2,042 sqft
    2023-08-01 0 days 2,035 sqft
    2023-09-01 0 days 2,050 sqft
    2023-10-01 0 days 2,049 sqft
    2023-11-01 0 days 2,024 sqft
    2023-12-01 0 days 2,016 sqft
    2024-01-01 0 days 1,969 sqft
    2024-02-01 0 days 1,917 sqft
    2024-03-01 0 days 1,914 sqft
    Sevierville's median listing age (time on market) for 2024-03-01 was 0 days.

    Sevierville's median square footage for active listings during the 2024-03-01 period was 1,914 sqft. One year prior, the average listing was 2,016 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).