Sevierville FHA Loan Rates, Closing Costs & Stats
Sevierville, TN
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 77 lenders originated 413 FHA loans during 2021. The total origination value was $104,865,000, with an average FHA loan value of $253,910.
Sevierville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Sevierville
averaged
6.19%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Sevierville's average FHA mortgage closing costs are $7,176.
The average rate for the prior week (2023-01-20) was
6.46% and
one month ago for the week of 2022-12-23, the
average rate was 6.35%.
The average rate one year ago was 4.14%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.87%.
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.
The top Sevierville FHA lender as defined by loan originations is CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP, with
41 FHA loans originated. Their average total fees are
$9,635, which is $3,355
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Sevierville FHA lenders (with over 10 loans originated) are
LAKEVIEW LOAN SERVICING, LLC ($4,300), FREEDOM MORTGAGE CORPORATION ($4,309), PENNYMAC LOAN SERVICES, LLC ($4,459), QUICKEN LOANS, LLC ($6,280) and MORTGAGE INVESTORS GROUP, INC. ($7,991).
The lowest rate Sevierville FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.61%), FREEDOM MORTGAGE CORPORATION (2.79%), LAKEVIEW LOAN SERVICING, LLC (2.93%), MORTGAGE INVESTORS GROUP, INC. (2.99%) and PENNYMAC LOAN SERVICES, LLC (3.00%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sevierville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $259,900 (8.3%) | $341,724 (12.8%) | 0.00 | 872 |
2018-02-01 | $259,900 (5.2%) | $340,783 (10.3%) | 0.00 | 844 |
2018-03-01 | $259,000 (3.6%) | $346,630 (8.4%) | 0.00 | 838 |
2018-04-01 | $260,169 (4.1%) | $353,483 (10.5%) | 0.00 | 818 |
2018-05-01 | $259,900 (2.0%) | $353,306 (8.8%) | 0.00 | 836 |
2018-06-01 | $264,900 (3.9%) | $356,687 (9.7%) | 0.00 | 866 |
2018-07-01 | $264,900 (3.9%) | $365,408 (12.1%) | 0.00 | 867 |
2018-08-01 | $264,900 (1.9%) | $366,439 (12.0%) | 0.00 | 875 |
2018-09-01 | $264,900 (1.9%) | $368,417 (11.1%) | 0.00 | 876 |
2018-10-01 | $269,900 (3.9%) | $373,567 (11.7%) | 0.00 | 850 |
2018-11-01 | $274,900 (6.1%) | $375,583 (12.4%) | 0.00 | 839 |
2018-12-01 | $274,900 (5.8%) | $383,549 (14.2%) | 0.00 | 798 |
2019-01-01 | $274,950 (5.8%) | $385,488 (12.8%) | 0.00 | 745 |
2019-02-01 | $277,000 (6.6%) | $397,560 (16.7%) | 0.00 | 713 |
2019-03-01 | $288,471 (11.4%) | $411,235 (18.6%) | 0.00 | 704 |
2019-04-01 | $299,900 (15.3%) | $427,072 (20.8%) | 0.00 | 692 |
2019-05-01 | $304,950 (17.3%) | $429,850 (21.7%) | 0.00 | 697 |
2019-06-01 | $324,900 (22.7%) | $438,912 (23.1%) | 0.00 | 709 |
2019-07-01 | $315,675 (19.2%) | $435,268 (19.1%) | 0.00 | 697 |
2019-08-01 | $321,873 (21.5%) | $437,985 (19.5%) | 0.00 | 688 |
2019-09-01 | $331,507 (25.1%) | $448,401 (21.7%) | 0.00 | 702 |
2019-10-01 | $341,350 (26.5%) | $455,311 (21.9%) | 0.00 | 714 |
2019-11-01 | $345,000 (25.5%) | $465,897 (24.1%) | 0.00 | 715 |
2019-12-01 | $362,450 (31.9%) | $492,668 (28.5%) | 0.00 | 671 |
2020-01-01 | $364,950 (32.7%) | $500,605 (29.9%) | 0.00 | 627 |
2020-02-01 | $369,900 (33.5%) | $506,454 (27.4%) | 0.00 | 576 |
2020-03-01 | $367,592 (27.4%) | $507,247 (23.4%) | 0.00 | 581 |
2020-04-01 | $354,950 (18.4%) | $495,729 (16.1%) | 0.00 | 714 |
2020-05-01 | $370,000 (21.3%) | $504,013 (17.3%) | 0.00 | 691 |
2020-06-01 | $399,900 (23.1%) | $518,561 (18.2%) | 0.00 | 642 |
2020-07-01 | $422,025 (33.7%) | $554,276 (27.3%) | 0.00 | 586 |
2020-08-01 | $440,000 (36.7%) | $570,233 (30.2%) | 0.00 | 503 |
2020-09-01 | $454,725 (37.2%) | $593,821 (32.4%) | 0.00 | 400 |
2020-10-01 | $469,900 (37.7%) | $626,071 (37.5%) | 0.00 | 333 |
2020-11-01 | $440,000 (27.5%) | $599,215 (28.6%) | 0.00 | 322 |
2020-12-01 | $479,950 (32.4%) | $640,449 (30.0%) | 0.00 | 328 |
2021-01-01 | $490,000 (34.3%) | $653,071 (30.5%) | 0.00 | 308 |
2021-02-01 | $649,950 (75.7%) | $687,433 (35.7%) | 0.00 | 381 |
2021-03-01 | $650,000 (76.8%) | $706,929 (39.4%) | 0.00 | 407 |
2021-04-01 | $650,000 (83.1%) | $718,185 (44.9%) | 0.00 | 458 |
2021-05-01 | $650,000 (75.7%) | $713,761 (41.6%) | 0.00 | 479 |
2021-06-01 | $589,675 (47.5%) | $727,062 (40.2%) | 0.00 | 442 |
2021-07-01 | $595,000 (41.0%) | $730,494 (31.8%) | 0.00 | 470 |
2021-08-01 | $592,400 (34.6%) | $731,816 (28.3%) | 0.00 | 463 |
2021-09-01 | $538,750 (18.5%) | $705,163 (18.8%) | 0.00 | 434 |
2021-10-01 | $569,900 (21.3%) | $775,389 (23.9%) | 0.00 | 406 |
2021-11-01 | $599,913 (36.3%) | $819,772 (36.8%) | 0.00 | 375 |
2021-12-01 | $662,006 (37.9%) | $808,886 (26.3%) | 0.00 | 369 |
2022-01-01 | $699,000 (42.7%) | $802,524 (22.9%) | 0.00 | 329 |
2022-02-01 | $729,900 (12.3%) | $877,732 (27.7%) | 0.00 | 337 |
2022-03-01 | $749,500 (15.3%) | $952,442 (34.7%) | 0.00 | 381 |
2022-04-01 | $750,000 (15.4%) | $995,038 (38.6%) | 0.00 | 484 |
2022-05-01 | $779,000 (19.9%) | $965,645 (35.3%) | 0.00 | 695 |
2022-06-01 | $759,050 (28.7%) | $944,164 (29.9%) | 0.00 | 902 |
2022-07-01 | $749,900 (26.0%) | $925,573 (26.7%) | 0.00 | 1,022 |
2022-08-01 | $741,900 (25.2%) | $916,261 (25.2%) | 0.00 | 1,002 |
2022-09-01 | $724,475 (34.5%) | $905,549 (28.4%) | 0.00 | 974 |
2022-10-01 | $744,450 (30.6%) | $919,895 (18.6%) | 0.00 | 951 |
2022-11-01 | $730,875 (21.8%) | $906,795 (10.6%) | 0.00 | 890 |
2022-12-01 | $724,900 (9.5%) | $899,069 (11.2%) | 0.00 | 782 |
Sevierville's median listing price comes in at 0% of the national average.
Sevierville's average listing price for 2022-12-01 was $899,069, a difference of $90,183 (11.2%) versus the prior year and $-7,726 versus the prior month.
For the 2022-12-01 period, Sevierville had 782 MLS listings, a difference of -108 listings (-12%) versus the prior month and 413 listings (112%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sevierville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 1,860 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 | 1,902 sqft |
2018-08-01 | 0 days | 1,930 sqft |
2018-09-01 | 0 days | 1,924 sqft |
2018-10-01 | 0 days | 1,986 sqft |
2018-11-01 | 0 days | 1,953 sqft |
2018-12-01 | 0 days | 1,971 sqft |
2019-01-01 | 0 days | 1,962 sqft |
2019-02-01 | 0 days | 2,013 sqft |
2019-03-01 | 0 days | 2,077 sqft |
2019-04-01 | 0 days | 2,096 sqft |
2019-05-01 | 0 days | 2,084 sqft |
2019-06-01 | 0 days | 2,078 sqft |
2019-07-01 | 0 days | 2,088 sqft |
2019-08-01 | 0 days | 2,109 sqft |
2019-09-01 | 0 days | 2,119 sqft |
2019-10-01 | 0 days | 2,125 sqft |
2019-11-01 | 0 days | 2,080 sqft |
2019-12-01 | 0 days | 2,142 sqft |
2020-01-01 | 0 days | 2,151 sqft |
2020-02-01 | 0 days | 2,080 sqft |
2020-03-01 | 0 days | 2,092 sqft |
2020-04-01 | 0 days | 1,999 sqft |
2020-05-01 | 0 days | 2,016 sqft |
2020-06-01 | 0 days | 2,154 sqft |
2020-07-01 | 0 days | 2,269 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 | 2,174 sqft |
2020-12-01 | 0 days | 2,297 sqft |
2021-01-01 | 0 days | 2,250 sqft |
2021-02-01 | 0 days | 2,372 sqft |
2021-03-01 | 0 days | 2,427 sqft |
2021-04-01 | 0 days | 2,337 sqft |
2021-05-01 | 0 days | 2,222 sqft |
2021-06-01 | 0 days | 2,110 sqft |
2021-07-01 | 0 days | 2,100 sqft |
2021-08-01 | 0 days | 2,098 sqft |
2021-09-01 | 0 days | 2,038 sqft |
2021-10-01 | 0 days | 2,096 sqft |
2021-11-01 | 0 days | 2,284 sqft |
2021-12-01 | 0 days | 2,304 sqft |
2022-01-01 | 0 days | 2,058 sqft |
2022-02-01 | 0 days | 2,058 sqft |
2022-03-01 | 0 days | 2,071 sqft |
2022-04-01 | 0 days | 2,084 sqft |
2022-05-01 | 0 days | 2,069 sqft |
2022-06-01 | 0 days | 2,034 sqft |
2022-07-01 | 0 days | 2,020 sqft |
2022-08-01 | 0 days | 2,008 sqft |
2022-09-01 | 0 days | 2,018 sqft |
2022-10-01 | 0 days | 2,080 sqft |
2022-11-01 | 0 days | 2,051 sqft |
2022-12-01 | 0 days | 2,057 sqft |
Sevierville's median square footage for active listings during the 2022-12-01 period was 2,057 sqft. One year prior, the average listing was 2,304 sqft.