Sevierville FHA Loans

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 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 5.71% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

    The average rate for the prior week (2022-07-29) was 5.45% and one month ago for the week of 2022-07-01, the average rate was 5.94%.

    The average rate one year ago was 3.14%.

    For refis of the same type during the week of 2022-08-05, the average rate was 5.09%.

    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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Sevierville level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 41 3.25% $9,635
    QUICKEN LOANS, LLC 35 2.61% $6,280
    MORTGAGE INVESTORS GROUP, INC. 30 2.99% $7,991
    PENNYMAC LOAN SERVICES, LLC 14 3.00% $4,459
    LAKEVIEW LOAN SERVICING, LLC 12 2.93% $4,300
    FREEDOM MORTGAGE CORPORATION 12 2.79% $4,309
    FIRST COMMUNITY MORTGAGE, INC. 8 2.81% $10,031
    CMG MORTGAGE, INC. 8 3.00% $9,313
    HOME POINT FINANCIAL CORPORATION 8 2.98% $7,846
    CALIBER HOME LOANS, INC. 8 3.01% $7,120
    Gateway First Bank 8 3.45% $6,575
    Mr. Cooper ( Nationstar Mortgage ) 7 3.59% $5,551
    Carrington Mortgage Services, LLC 7 3.61% $8,228
    ISERVE RESIDENTIAL LENDING, LLC 7 3.27% $9,784
    T2 FINANCIAL LLC 6 3.46% $8,293
    MOVEMENT MORTGAGE, LLC 6 3.15% $8,205
    SOUTHWEST FUNDING, LP 5 3.63% $7,545
    Hometown Lenders, Inc. 5 3.43% $9,343
    DHI MORTGAGE COMPANY, LTD. 5 2.80% $6,422
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 3.50% $10,248
    Wolfe Financial, Inc 4 3.22% $7,815
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.44% $5,489
    AMERICAN FINANCING CORPORATION 3 3.17% $6,768
    GUILD MORTGAGE COMPANY 3 3.13% $11,202
    BAY EQUITY LLC 3 2.96% $10,191
    Nations Lending Corporation 3 3.63% $12,423
    Citizens Bank 3 2.58% $8,630
    SUCCESS MORTGAGE PARTNERS, INC. 3 3.75% $10,758
    STOCKTON MORTGAGE CORPORATION 3 3.00% $7,003
    Bank of England 3 3.13% $7,872
    AmeriHome Mortgage Company, LLC 2 2.88% $3,500
    LOANDEPOT.COM, LLC 2 3.69% $9,859
    AMERISAVE MORTGAGE CORPORATION 2 2.56% $9,257
    PLANET HOME LENDING, LLC 2 2.69% $3,884
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.00% $8,489
    Paramount Residential Mortgage Group, Inc. 2 3.06% $10,201
    TJC Mortgage, Inc. 2 2.69% $8,608
    Northpointe Bank 2 3.25% $6,037
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.56% $7,895
    UNITED WHOLESALE MORTGAGE, LLC 2 2.65% $7,636
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.06% $8,282
    CROSSCOUNTRY MORTGAGE, LLC 2 3.13% $7,473
    Mortgage Research Center, LLC 1 3.25% $5,800
    ACADEMY MORTGAGE CORPORATION 1 3.50% $5,417
    Alcova Mortgage LLC 1 3.25% $9,266
    AMCAP MORTGAGE, LTD. 1 3.13% $9,915
    AMERICAN FINANCIAL NETWORK, INC. 1 4.50% $5,609
    A Mortgage Boutique, LLC 1 2.63% $6,913
    AmRes Corporation 1 2.88% $6,746
    ANGEL OAK HOME LOANS LLC 1 3.13% $12,959
    Assurance Financial Group, L.L.C. 1 3.00% $8,116
    Austin Capital Bank SSB 1 3.25% $9,670
    Barrington Bank & Trust Company, N.A. 1 3.38% $10,264
    CIS Financial Services, Inc. 1 2.88% $11,730
    EMBRACE HOME LOANS, INC. 1 3.50% $7,076
    ENDEAVOR CAPITAL, LLC. 1 3.00% $7,037
    First Federal Bank 1 2.88% $12,729
    First Guaranty Mortgage Corporation 1 4.25% $4,945
    GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.75% $6,696
    GUARANTEED RATE, INC. 1 2.75% $7,954
    HOMESIDE FINANCIAL, LLC 1 2.63% $8,622
    JAMES B. NUTTER & COMPANY 1 2.75% $2,642
    Manufacturers and Traders Trust Company 1 2.75% $6,330
    MID AMERICA MORTGAGE, INC. 1 3.25% $992
    1ST SIGNATURE LENDING, LLC 1 3.13% $8,864
    NATIONWIDE MORTGAGE BANKERS, INC. 1 3.25% $14,824
    NEWREZ LLC 1 2.75% $5,346
    RELIANCE FIRST CAPITAL, LLC 1 2.50% $9,806
    ROSS MORTGAGE CORPORATION 1 4.63% $9,402
    Sierra Pacific Mortgage Company, Inc. 1 3.13% $5,741
    SmartBank 1 2.38% $6,501
    STEARNS LENDING, LLC 1 2.75% $7,333
    Strong Home Mortgage, LLC 1 2.38% $6,767
    Truist Bank 1 2.63% $8,092
    Trustmark National Bank 1 3.38% $8,734
    U.S. Bank 1 3.25% $6,703
    VILLAGE CAPITAL & INVESTMENT LLC 1 2.75% $4,121

    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. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $263,450 (9.8%) $355,502 (16.9%) 0.00 1,211
    2018-02-01 $262,400 (5.3%) $355,363 (15.3%) 0.00 1,187
    2018-03-01 $260,000 (4.0%) $357,187 (11.6%) 0.00 1,182
    2018-04-01 $264,950 (6.0%) $361,704 (12.2%) 0.00 1,159
    2018-05-01 $259,900 (1.0%) $354,269 (9.2%) 0.00 1,191
    2018-06-01 $264,700 (3.0%) $356,730 (9.6%) 0.00 1,246
    2018-07-01 $264,900 (3.9%) $360,816 (10.7%) 0.00 1,265
    2018-08-01 $264,900 (1.9%) $364,213 (10.6%) 0.00 1,264
    2018-09-01 $265,000 (2.0%) $366,892 (9.6%) 0.00 1,263
    2018-10-01 $269,900 (3.9%) $370,478 (8.8%) 0.00 1,236
    2018-11-01 $274,975 (5.8%) $377,104 (10.1%) 0.00 1,194
    2018-12-01 $274,900 (5.8%) $379,012 (7.9%) 0.00 1,121
    2019-01-01 $274,950 (4.4%) $377,968 (6.3%) 0.00 1,041
    2019-02-01 $277,450 (5.7%) $390,695 (9.9%) 0.00 994
    2019-03-01 $289,714 (11.4%) $405,598 (13.6%) 0.00 968
    2019-04-01 $299,950 (13.2%) $422,651 (16.9%) 0.00 953
    2019-05-01 $324,950 (25.0%) $436,471 (23.2%) 0.00 987
    2019-06-01 $329,900 (24.6%) $442,767 (24.1%) 0.00 1,030
    2019-07-01 $322,500 (21.7%) $442,368 (22.6%) 0.00 1,008
    2019-08-01 $331,386 (25.1%) $445,722 (22.4%) 0.00 1,002
    2019-09-01 $338,836 (27.9%) $451,453 (23.1%) 0.00 1,033
    2019-10-01 $345,750 (28.1%) $469,849 (26.8%) 0.00 1,042
    2019-11-01 $349,900 (27.3%) $478,834 (27.0%) 0.00 1,026
    2019-12-01 $354,950 (29.1%) $494,259 (30.4%) 0.00 964
    2020-01-01 $362,400 (31.8%) $500,690 (32.5%) 0.00 902
    2020-02-01 $365,000 (31.6%) $509,350 (30.4%) 0.00 834
    2020-03-01 $369,900 (27.7%) $513,238 (26.5%) 0.00 834
    2020-04-01 $361,400 (20.5%) $494,350 (17.0%) 0.00 1,019
    2020-05-01 $379,000 (16.6%) $502,766 (15.2%) 0.00 978
    2020-06-01 $398,250 (20.7%) $519,717 (17.4%) 0.00 906
    2020-07-01 $408,450 (26.7%) $548,999 (24.1%) 0.00 839
    2020-08-01 $440,000 (32.8%) $571,892 (28.3%) 0.00 715
    2020-09-01 $464,950 (37.2%) $618,297 (37.0%) 0.00 546
    2020-10-01 $465,000 (34.5%) $637,749 (35.7%) 0.00 457
    2020-11-01 $449,450 (28.5%) $611,376 (27.7%) 0.00 454
    2020-12-01 $479,500 (35.1%) $648,192 (31.1%) 0.00 456
    2021-01-01 $485,000 (33.8%) $658,094 (31.4%) 0.00 430
    2021-02-01 $612,450 (67.8%) $703,905 (38.2%) 0.00 462
    2021-03-01 $649,950 (75.7%) $733,303 (42.9%) 0.00 478
    2021-04-01 $647,875 (79.3%) $725,442 (46.8%) 0.00 531
    2021-05-01 $625,000 (64.9%) $707,545 (40.7%) 0.00 564
    2021-06-01 $589,450 (48.0%) $721,888 (38.9%) 0.00 562
    2021-07-01 $599,900 (46.9%) $736,750 (34.2%) 0.00 624
    2021-08-01 $599,000 (36.1%) $741,280 (29.6%) 0.00 604
    2021-09-01 $551,013 (18.5%) $706,940 (14.3%) 0.00 563
    2021-10-01 $579,000 (24.5%) $760,600 (19.3%) 0.00 521
    2021-11-01 $599,950 (33.5%) $807,436 (32.1%) 0.00 459
    2021-12-01 $674,500 (40.7%) $815,566 (25.8%) 0.00 461
    2022-01-01 $675,000 (39.2%) $803,937 (22.2%) 0.00 402
    2022-02-01 $729,900 (19.2%) $906,276 (28.8%) 0.00 402
    2022-03-01 $729,900 (12.3%) $938,978 (28.1%) 0.00 501
    2022-04-01 $750,000 (15.8%) $996,511 (37.4%) 0.00 636
    2022-05-01 $786,250 (25.8%) $963,766 (36.2%) 0.00 955
    2022-06-01 $758,250 (28.6%) $944,254 (30.8%) 0.00 1,235
    Sevierville's median listing price for 2022-06-01 was $758,250, a difference of $168,800 (28.6%) versus the prior year and $-28,000 versus the prior month.

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

    Sevierville's average listing price for 2022-06-01 was $944,254, a difference of $222,366 (30.8%) versus the prior year and $-19,512 versus the prior month.

    For the 2022-06-01 period, Sevierville had 1,235 MLS listings, a difference of 280 listings (29%) versus the prior month and 673 listings (120%) 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 1,942 sqft
    2018-02-01 0 days 1,924 sqft
    2018-03-01 0 days 1,913 sqft
    2018-04-01 0 days 1,949 sqft
    2018-05-01 0 days 1,917 sqft
    2018-06-01 0 days 1,924 sqft
    2018-07-01 0 days 1,928 sqft
    2018-08-01 0 days 1,968 sqft
    2018-09-01 0 days 1,972 sqft
    2018-10-01 0 days 2,028 sqft
    2018-11-01 0 days 2,026 sqft
    2018-12-01 0 days 2,000 sqft
    2019-01-01 0 days 1,968 sqft
    2019-02-01 0 days 2,046 sqft
    2019-03-01 0 days 2,093 sqft
    2019-04-01 0 days 2,125 sqft
    2019-05-01 0 days 2,161 sqft
    2019-06-01 0 days 2,110 sqft
    2019-07-01 0 days 2,149 sqft
    2019-08-01 0 days 2,183 sqft
    2019-09-01 0 days 2,162 sqft
    2019-10-01 0 days 2,191 sqft
    2019-11-01 0 days 2,164 sqft
    2019-12-01 0 days 2,174 sqft
    2020-01-01 0 days 2,174 sqft
    2020-02-01 0 days 2,140 sqft
    2020-03-01 0 days 2,160 sqft
    2020-04-01 0 days 2,045 sqft
    2020-05-01 0 days 2,084 sqft
    2020-06-01 0 days 2,154 sqft
    2020-07-01 0 days 2,278 sqft
    2020-08-01 0 days 2,300 sqft
    2020-09-01 0 days 2,229 sqft
    2020-10-01 0 days 2,240 sqft
    2020-11-01 0 days 2,238 sqft
    2020-12-01 0 days 2,297 sqft
    2021-01-01 0 days 2,259 sqft
    2021-02-01 0 days 2,352 sqft
    2021-03-01 0 days 2,452 sqft
    2021-04-01 0 days 2,372 sqft
    2021-05-01 0 days 2,205 sqft
    2021-06-01 0 days 2,106 sqft
    2021-07-01 0 days 2,101 sqft
    2021-08-01 0 days 2,124 sqft
    2021-09-01 0 days 2,092 sqft
    2021-10-01 0 days 2,250 sqft
    2021-11-01 0 days 2,296 sqft
    2021-12-01 0 days 2,318 sqft
    2022-01-01 0 days 2,204 sqft
    2022-02-01 0 days 2,088 sqft
    2022-03-01 0 days 2,058 sqft
    2022-04-01 0 days 2,117 sqft
    2022-05-01 0 days 2,079 sqft
    2022-06-01 0 days 2,055 sqft
    Sevierville's median listing age (time on market) for 2022-06-01 was 0 days.

    Sevierville's median square footage for active listings during the 2022-06-01 period was 2,055 sqft. One year prior, the average listing was 2,106 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).