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 64 lenders originated 260 FHA loans during 2022. The total origination value was $59,100,000, with an average FHA loan value of $227,308.

Sevierville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Sevierville averaged 0.04% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

Sevierville's average FHA mortgage closing costs are $7,657.

The average rate for the prior week (2023-11-17) was 7.13% and one month ago for the week of 2023-10-20, the average rate was 7.14%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.25%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
MORTGAGE INVESTORS GROUP, INC. 29 4.97% $9,877
QUICKEN LOANS, LLC 26 4.57% $10,501
PENNYMAC LOAN SERVICES, LLC 12 4.18% $10,901
CARDINAL FINANCIAL 8 4.64% $13,503
LAKEVIEW LOAN SERVICING, LLC 8 4.13% $6,034
LOANDEPOT.COM, LLC 7 4.91% $9,290
CALIBER HOME LOANS, INC. 7 4.58% $9,013
FIRST COMMUNITY MORTGAGE, INC. 6 5.02% $11,076
CMG MORTGAGE, INC. 6 4.67% $10,950
AMERICAN FINANCIAL RESOURCES, INC. 6 5.29% $8,428
FREEDOM MORTGAGE CORPORATION 5 5.90% $11,658
Mr. Cooper ( Nationstar Mortgage ) 5 4.90% $13,419
NEWREZ LLC 5 4.86% $12,062
CROSSCOUNTRY MORTGAGE, LLC 4 5.53% $12,434
SECURITYNATIONAL MORTGAGE COMPANY 4 4.56% $11,066
Nations Lending Corporation 4 5.22% $10,481
Bank of England 4 5.50% $9,926
UNITED WHOLESALE MORTGAGE, LLC 4 4.75% $11,317
AMCAP MORTGAGE, LTD. 3 3.33% $7,615
Citizens Bank 3 3.63% $9,298
DHI MORTGAGE COMPANY, LTD. 3 4.75% $9,801
AMERISAVE MORTGAGE CORPORATION 2 5.00% $13,203
T2 FINANCIAL LLC 2 4.25% $12,900
BROKER SOLUTIONS, INC. 2 4.31% $12,573
HOME POINT FINANCIAL CORPORATION 2 4.00% $12,639
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.50% $14,577
MUTUAL OF OMAHA MORTGAGE, INC. 2 4.25% $14,791
MILEND, INC. 2 4.75% $16,437
VANDERBILT MORTGAGE AND FINANCE, INC. 2 3.88% $10,808
Flagstar Bank, FSB 2 4.68% $7,916
NFM, INC. 2 5.63% $6,924
GUILD MORTGAGE COMPANY 2 5.81% $11,386
MOVEMENT MORTGAGE, LLC 1 5.75% $10,830
M&T Bank 1 3.50% $8,233
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.63% $7,148
ARC HOME LLC 1 4.99% $10,636
Northpointe Bank 1 5.25% $15,566
PLANET HOME LENDING, LLC 1 2.75% $5,916
PLAZA HOME MORTGAGE, INC. 1 4.88% $11,544
AmeriHome Mortgage Company, LLC 1 5.13% $8,752
Amerifirst Financial, Inc. 1 7.13% $8,255
STEARNS LENDING, LLC 1 4.75% $6,759
STOCKTON MORTGAGE CORPORATION 1 5.00% $11,951
SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $14,820
SUN WEST MORTGAGE COMPANY, INC. 1 6.38% $10,644
TOWNE MORTGAGE COMPANY 1 5.25% $11,941
UNION HOME MORTGAGE CORP. 1 5.38% $8,722
United Community Bank 1 5.00% $8,178
UNITED MORTGAGE CORP 1 3.25% $8,072
AMERICAN MORTGAGE SERVICE COMPANY 1 6.13% $9,414
VILLAGE CAPITAL MORTGAGE 1 4.63% $11,174
Waterstone Mortgage Corporation 1 4.25% $11,026
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.88% $14,013
Wells Fargo Bank 1 5.88% $16,115
EVERETT FINANCIAL, INC. 1 7.13% $4,498
First Guaranty Mortgage Corporation 1 4.00% $5,800
DRAPER AND KRAMER MORTGAGE CORP. 1 4.75% $8,434
Goldwater Bank, N.A. 1 5.25% $12,607
GSF Mortgage Corporation 1 6.63% $12,311
GUARANTEED RATE, INC. 1 3.38% $7,586
Hometown Lenders, Inc. 1 4.99% $13,520
Countybank 1 3.25% $6,671
Carrington Mortgage Services, LLC 1 4.63% $11,967
CALCON MUTUAL MORTGAGE LLC 1 6.50% $12,265

The top Sevierville FHA lender as defined by loan originations is MORTGAGE INVESTORS GROUP, INC., with 29 FHA loans originated. Their average total fees are $9,877, which is $624 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Sevierville FHA lenders (with over 10 loans originated) are MORTGAGE INVESTORS GROUP, INC. ($9,877), QUICKEN LOANS, LLC ($10,501), PENNYMAC LOAN SERVICES, LLC ($10,901), .

The lowest rate Sevierville FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (4.18%), QUICKEN LOANS, LLC (4.57%), MORTGAGE INVESTORS GROUP, INC. (4.97%), .

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%) $341,724 (13.0%) 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%) $411,216 (18.6%) 0.00 704
2019-04-01 $299,900 (15.3%) $426,971 (20.8%) 0.00 692
2019-05-01 $305,825 (17.7%) $430,268 (21.8%) 0.00 696
2019-06-01 $324,900 (22.7%) $439,348 (23.2%) 0.00 708
2019-07-01 $316,675 (19.6%) $435,689 (19.2%) 0.00 696
2019-08-01 $322,200 (21.6%) $438,419 (19.6%) 0.00 687
2019-09-01 $331,650 (25.2%) $448,839 (21.8%) 0.00 701
2019-10-01 $341,950 (26.7%) $455,747 (22.0%) 0.00 713
2019-11-01 $345,000 (25.5%) $466,357 (24.2%) 0.00 714
2019-12-01 $362,475 (31.9%) $493,192 (28.6%) 0.00 669
2020-01-01 $365,000 (32.8%) $501,190 (30.0%) 0.00 625
2020-02-01 $369,950 (33.6%) $507,085 (27.6%) 0.00 575
2020-03-01 $368,746 (27.8%) $507,913 (23.5%) 0.00 580
2020-04-01 $354,950 (18.4%) $496,226 (16.2%) 0.00 713
2020-05-01 $370,000 (21.0%) $504,554 (17.3%) 0.00 689
2020-06-01 $399,900 (23.1%) $519,150 (18.2%) 0.00 641
2020-07-01 $422,100 (33.3%) $554,973 (27.4%) 0.00 584
2020-08-01 $440,000 (36.6%) $571,248 (30.3%) 0.00 501
2020-09-01 $454,725 (37.1%) $595,175 (32.6%) 0.00 398
2020-10-01 $469,900 (37.4%) $627,881 (37.8%) 0.00 331
2020-11-01 $440,000 (27.5%) $600,852 (28.8%) 0.00 320
2020-12-01 $479,725 (32.4%) $642,511 (30.3%) 0.00 325
2021-01-01 $489,950 (34.2%) $655,410 (30.8%) 0.00 305
2021-02-01 $650,000 (75.7%) $689,288 (35.9%) 0.00 379
2021-03-01 $650,000 (76.3%) $708,768 (39.6%) 0.00 405
2021-04-01 $650,000 (83.1%) $719,844 (45.1%) 0.00 456
2021-05-01 $650,000 (75.7%) $714,564 (41.6%) 0.00 478
2021-06-01 $592,450 (48.2%) $727,890 (40.2%) 0.00 441
2021-07-01 $595,000 (41.0%) $731,230 (31.8%) 0.00 469
2021-08-01 $592,450 (34.7%) $734,984 (28.7%) 0.00 462
2021-09-01 $542,000 (19.2%) $710,654 (19.4%) 0.00 434
2021-10-01 $569,900 (21.3%) $781,408 (24.5%) 0.00 406
2021-11-01 $599,937 (36.4%) $826,432 (37.5%) 0.00 375
2021-12-01 $662,281 (38.1%) $815,572 (26.9%) 0.00 369
2022-01-01 $699,000 (42.7%) $808,023 (23.3%) 0.00 329
2022-02-01 $729,900 (12.3%) $889,001 (29.0%) 0.00 336
2022-03-01 $749,950 (15.4%) $960,341 (35.5%) 0.00 380
2022-04-01 $763,750 (17.5%) $1,000,697 (39.0%) 0.00 483
2022-05-01 $781,250 (20.2%) $970,227 (35.8%) 0.00 694
2022-06-01 $760,830 (28.4%) $945,407 (29.9%) 0.00 901
2022-07-01 $749,900 (26.0%) $926,606 (26.7%) 0.00 1,021
2022-08-01 $745,000 (25.8%) $917,549 (24.8%) 0.00 1,003
2022-09-01 $726,175 (34.0%) $907,131 (27.7%) 0.00 975
2022-10-01 $749,000 (31.4%) $921,706 (18.0%) 0.00 951
2022-11-01 $734,675 (22.5%) $908,874 (10.0%) 0.00 890
2022-12-01 $725,000 (9.5%) $903,737 (10.8%) 0.00 781
2023-01-01 $749,949 (7.3%) $915,754 (13.3%) 0.00 680
2023-02-01 $749,450 (2.7%) $919,428 (3.4%) 0.00 677
2023-03-01 $749,452 (-0.1%) $932,953 (-2.9%) 0.00 692
2023-04-01 $749,900 (-1.8%) $943,794 (-5.7%) 0.00 766
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 (-2.0%) $914,534 (-0.3%) 0.00 1,121
2023-09-01 $732,450 (0.9%) $928,965 (2.4%) 0.00 1,155
2023-10-01 $749,000 (0.0%) $930,845 (1.0%) 0.00 1,144
Sevierville's median listing price for 2023-10-01 was $749,000, a difference of $0 (0.0%) versus the prior year and $16,550 versus the prior month.

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

Sevierville's average listing price for 2023-10-01 was $930,845, a difference of $9,139 (1.0%) versus the prior year and $1,880 versus the prior month.

For the 2023-10-01 period, Sevierville had 1,144 MLS listings, a difference of -11 listings (-1%) versus the prior month and 193 listings (20%) 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 1,860 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 2,087 sqft
2019-06-01 0 days 2,080 sqft
2019-07-01 0 days 2,090 sqft
2019-08-01 0 days 2,112 sqft
2019-09-01 0 days 2,120 sqft
2019-10-01 0 days 2,126 sqft
2019-11-01 0 days 2,084 sqft
2019-12-01 0 days 2,144 sqft
2020-01-01 0 days 2,153 sqft
2020-02-01 0 days 2,088 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 2,174 sqft
2020-12-01 0 days 2,295 sqft
2021-01-01 0 days 2,246 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 2,210 sqft
2021-06-01 0 days 2,109 sqft
2021-07-01 0 days 2,096 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 2,064 sqft
2022-03-01 0 days 2,073 sqft
2022-04-01 0 days 2,088 sqft
2022-05-01 0 days 2,069 sqft
2022-06-01 0 days 2,032 sqft
2022-07-01 0 days 2,020 sqft
2022-08-01 0 days 2,013 sqft
2022-09-01 0 days 2,019 sqft
2022-10-01 0 days 2,088 sqft
2022-11-01 0 days 2,055 sqft
2022-12-01 0 days 2,068 sqft
2023-01-01 0 days 2,043 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 2,034 sqft
2023-07-01 0 days 2,042 sqft
2023-08-01 0 days 2,036 sqft
2023-09-01 0 days 2,050 sqft
2023-10-01 0 days 2,050 sqft
Sevierville's median listing age (time on market) for 2023-10-01 was 0 days.

Sevierville's median square footage for active listings during the 2023-10-01 period was 2,050 sqft. One year prior, the average listing was 2,088 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).