Sevierville FHA Loans

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 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).