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%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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
FREEDOM MORTGAGE CORPORATION 12 2.79% $4,309
LAKEVIEW LOAN SERVICING, LLC 12 2.93% $4,300
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
CMG MORTGAGE, INC. 8 3.00% $9,313
FIRST COMMUNITY MORTGAGE, INC. 8 2.81% $10,031
Carrington Mortgage Services, LLC 7 3.61% $8,228
Mr. Cooper ( Nationstar Mortgage ) 7 3.59% $5,551
ISERVE RESIDENTIAL LENDING, LLC 7 3.27% $9,784
MOVEMENT MORTGAGE, LLC 6 3.15% $8,205
T2 FINANCIAL LLC 6 3.46% $8,293
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
PLANET HOME LENDING, LLC 2 2.69% $3,884
AMERISAVE MORTGAGE CORPORATION 2 2.56% $9,257
Paramount Residential Mortgage Group, Inc. 2 3.06% $10,201
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.00% $8,489
LOANDEPOT.COM, LLC 2 3.69% $9,859
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
HOMESIDE FINANCIAL, LLC 1 2.63% $8,622
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
1ST SIGNATURE LENDING, LLC 1 3.13% $8,864
JAMES B. NUTTER & COMPANY 1 2.75% $2,642
MID AMERICA MORTGAGE, INC. 1 3.25% $992
Mortgage Research Center, LLC 1 3.25% $5,800
M&T Bank 1 2.75% $6,330
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 1 2.63% $8,092
Trustmark National Bank 1 3.38% $8,734
U.S. Bank 1 3.25% $6,703
VILLAGE CAPITAL MORTGAGE 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 $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 for 2022-12-01 was $724,900, a difference of $62,894 (9.5%) versus the prior year and $-5,975 versus the prior month.

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. 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 2,084 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 listing age (time on market) for 2022-12-01 was 0 days.

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.

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).