Tullahoma FHA Loan Rates, Closing Costs & Stats
Tullahoma-Manchester, 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.
Tullahoma's 87 lenders originated 477 FHA loans during 2023. The total origination value was $115,835,000, with an average FHA loan value of $242,841.
Tullahoma FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Tullahoma
averaged
6.08%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Tullahoma's average FHA mortgage closing costs are $7,860.
The average rate for the prior week (2024-10-04) was
5.6% and
one month ago for the week of 2024-09-06, the
average rate was 6.03%.
The average rate one year ago was 7.05%.
For refis of the same type during the week of 2024-10-11, the average rate
was 5.83%.
Tullahoma 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 Tullahoma level.
The top Tullahoma FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
64 FHA loans originated. Their average total fees are
$11,105, which is $770
higher than the next largest lender,
FIRST COMMUNITY MORTGAGE, INC..
The lowest fee Tullahoma FHA lenders (with over 10 loans originated) are
FIRST COMMUNITY MORTGAGE, INC. ($10,335), First Vision Bank of Tennessee ($10,456), FirstBank ($10,893), SeaTrust Mortgage Company ($10,934) and QUICKEN LOANS, LLC ($11,105).
The lowest rate Tullahoma FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.14%), UNITED WHOLESALE MORTGAGE, LLC (6.19%), FIRST COMMUNITY MORTGAGE, INC. (6.40%), First Vision Bank of Tennessee (6.42%) and SeaTrust Mortgage Company (6.45%).
Tullahoma FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
TULLAHOMA-MANCHESTER, TN | COFFEE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
TULLAHOMA-MANCHESTER, TN | FRANKLIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
TULLAHOMA-MANCHESTER, TN | MOORE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
TULLAHOMA-MANCHESTER, TN | COFFEE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
TULLAHOMA-MANCHESTER, TN | FRANKLIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
TULLAHOMA-MANCHESTER, TN | MOORE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Tullahoma (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 | $249,950 (16.8%) | $370,871 (16.9%) | 0.00 | 342 |
2018-02-01 | $272,450 (32.9%) | $385,937 (22.8%) | 0.00 | 331 |
2018-03-01 | $274,750 (29.0%) | $384,268 (20.6%) | 0.00 | 336 |
2018-04-01 | $289,925 (31.8%) | $384,252 (16.1%) | 0.00 | 332 |
2018-05-01 | $299,900 (11.1%) | $396,499 (2.0%) | 0.00 | 334 |
2018-06-01 | $299,900 (13.4%) | $396,066 (3.7%) | 0.00 | 359 |
2018-07-01 | $290,725 (2.0%) | $394,660 (-0.2%) | 0.00 | 363 |
2018-08-01 | $282,400 (2.7%) | $385,054 (-0.1%) | 0.00 | 366 |
2018-09-01 | $269,000 (1.6%) | $368,345 (-2.2%) | 0.00 | 373 |
2018-10-01 | $273,500 (2.3%) | $372,273 (-2.0%) | 0.00 | 376 |
2018-11-01 | $267,475 (7.1%) | $361,724 (-2.8%) | 0.00 | 374 |
2018-12-01 | $256,682 (0.7%) | $341,417 (-9.9%) | 0.00 | 368 |
2019-01-01 | $256,900 (2.8%) | $339,364 (-8.5%) | 0.00 | 345 |
2019-02-01 | $259,900 (-4.6%) | $346,588 (-10.2%) | 0.00 | 347 |
2019-03-01 | $276,329 (0.6%) | $365,215 (-5.0%) | 0.00 | 322 |
2019-04-01 | $282,079 (-2.7%) | $375,686 (-2.2%) | 0.00 | 302 |
2019-05-01 | $299,950 (0.0%) | $388,965 (-1.9%) | 0.00 | 316 |
2019-06-01 | $291,950 (-2.7%) | $378,016 (-4.6%) | 0.00 | 334 |
2019-07-01 | $298,450 (2.7%) | $398,529 (1.0%) | 0.00 | 341 |
2019-08-01 | $294,109 (4.2%) | $396,035 (2.9%) | 0.00 | 344 |
2019-09-01 | $288,423 (7.2%) | $396,558 (7.7%) | 0.00 | 357 |
2019-10-01 | $284,250 (3.9%) | $396,907 (6.6%) | 0.00 | 364 |
2019-11-01 | $269,500 (0.8%) | $391,024 (8.1%) | 0.00 | 348 |
2019-12-01 | $259,900 (1.3%) | $368,098 (7.8%) | 0.00 | 343 |
2020-01-01 | $256,900 (0.0%) | $366,151 (7.9%) | 0.00 | 317 |
2020-02-01 | $258,750 (-0.4%) | $360,313 (4.0%) | 0.00 | 302 |
2020-03-01 | $286,175 (3.6%) | $385,580 (5.6%) | 0.00 | 286 |
2020-04-01 | $279,900 (-0.8%) | $379,841 (1.1%) | 0.00 | 284 |
2020-05-01 | $306,990 (2.4%) | $403,399 (3.7%) | 0.00 | 255 |
2020-06-01 | $319,900 (9.6%) | $404,349 (7.0%) | 0.00 | 217 |
2020-07-01 | $316,950 (6.2%) | $394,084 (-1.1%) | 0.00 | 201 |
2020-08-01 | $329,900 (12.2%) | $402,355 (1.6%) | 0.00 | 178 |
2020-09-01 | $309,475 (7.3%) | $407,296 (2.7%) | 0.00 | 151 |
2020-10-01 | $314,500 (10.6%) | $415,086 (4.6%) | 0.00 | 149 |
2020-11-01 | $295,000 (9.5%) | $424,355 (8.5%) | 0.00 | 140 |
2020-12-01 | $279,900 (7.7%) | $403,655 (9.7%) | 0.00 | 139 |
2021-01-01 | $264,900 (3.1%) | $382,155 (4.4%) | 0.00 | 135 |
2021-02-01 | $289,900 (12.0%) | $398,589 (10.6%) | 0.00 | 119 |
2021-03-01 | $296,925 (3.8%) | $414,898 (7.6%) | 0.00 | 107 |
2021-04-01 | $346,225 (23.7%) | $492,318 (29.6%) | 0.00 | 100 |
2021-05-01 | $409,900 (33.5%) | $478,188 (18.5%) | 0.00 | 117 |
2021-06-01 | $382,425 (19.6%) | $515,365 (27.5%) | 0.00 | 119 |
2021-07-01 | $369,400 (16.6%) | $497,886 (26.3%) | 0.00 | 148 |
2021-08-01 | $382,450 (15.9%) | $505,060 (25.5%) | 0.00 | 171 |
2021-09-01 | $386,950 (25.0%) | $511,043 (25.5%) | 0.00 | 186 |
2021-10-01 | $379,450 (20.7%) | $552,163 (33.0%) | 0.00 | 174 |
2021-11-01 | $389,450 (32.0%) | $570,183 (34.4%) | 0.00 | 178 |
2021-12-01 | $374,900 (33.9%) | $568,604 (40.9%) | 0.00 | 159 |
2022-01-01 | $374,900 (41.5%) | $560,458 (46.7%) | 0.00 | 135 |
2022-02-01 | $394,625 (36.1%) | $570,936 (43.2%) | 0.00 | 132 |
2022-03-01 | $381,675 (28.5%) | $583,347 (40.6%) | 0.00 | 147 |
2022-04-01 | $429,000 (23.9%) | $574,105 (16.6%) | 0.00 | 177 |
2022-05-01 | $432,400 (5.5%) | $601,859 (25.9%) | 0.00 | 219 |
2022-06-01 | $449,900 (17.6%) | $599,590 (16.3%) | 0.00 | 276 |
2022-07-01 | $446,700 (20.9%) | $588,737 (18.3%) | 0.00 | 319 |
2022-08-01 | $457,400 (19.6%) | $606,590 (20.1%) | 0.00 | 344 |
2022-09-01 | $467,425 (20.8%) | $637,291 (24.7%) | 0.00 | 346 |
2022-10-01 | $399,900 (5.4%) | $593,989 (7.6%) | 0.00 | 421 |
2022-11-01 | $399,900 (2.7%) | $567,578 (-0.5%) | 0.00 | 419 |
2022-12-01 | $399,900 (6.7%) | $570,546 (0.3%) | 0.00 | 397 |
2023-01-01 | $384,925 (2.7%) | $569,514 (1.6%) | 0.00 | 378 |
2023-02-01 | $384,950 (-2.5%) | $580,838 (1.7%) | 0.00 | 351 |
2023-03-01 | $389,675 (2.1%) | $583,695 (0.1%) | 0.00 | 349 |
2023-04-01 | $479,900 (11.9%) | $636,215 (10.8%) | 0.00 | 328 |
2023-05-01 | $479,900 (11.0%) | $622,138 (3.4%) | 0.00 | 351 |
2023-06-01 | $479,450 (6.6%) | $610,798 (1.9%) | 0.00 | 384 |
2023-07-01 | $474,900 (6.3%) | $584,930 (-0.7%) | 0.00 | 360 |
2023-08-01 | $456,675 (-0.2%) | $574,452 (-5.3%) | 0.00 | 374 |
2023-09-01 | $449,900 (-3.8%) | $588,262 (-7.7%) | 0.00 | 392 |
2023-10-01 | $441,475 (10.4%) | $566,677 (-4.6%) | 0.00 | 413 |
2023-11-01 | $399,900 (0.0%) | $524,203 (-7.6%) | 0.00 | 461 |
2023-12-01 | $399,500 (-0.1%) | $505,530 (-11.4%) | 0.00 | 476 |
2024-01-01 | $398,500 (3.5%) | $507,002 (-11.0%) | 0.00 | 424 |
2024-02-01 | $409,925 (6.5%) | $522,481 (-10.1%) | 0.00 | 421 |
2024-03-01 | $434,900 (11.6%) | $539,739 (-7.5%) | 0.00 | 397 |
2024-04-01 | $446,650 (-6.9%) | $572,564 (-10.0%) | 0.00 | 398 |
2024-05-01 | $444,425 (-7.4%) | $591,292 (-5.0%) | 0.00 | 430 |
2024-06-01 | $440,000 (-8.2%) | $579,546 (-5.1%) | 0.00 | 477 |
2024-07-01 | $427,575 (-10.0%) | $562,420 (-3.9%) | 0.00 | 480 |
2024-08-01 | $409,900 (-10.2%) | $539,556 (-6.1%) | 0.00 | 494 |
2024-09-01 | $399,450 (-11.2%) | $530,989 (-9.7%) | 0.00 | 530 |
Tullahoma's median listing price comes in at 0% of the national average.
Tullahoma's average listing price for 2024-09-01 was $530,989, a difference of $-57,273 (-9.7%) versus the prior year and $-8,567 versus the prior month.
For the 2024-09-01 period, Tullahoma had 530 MLS listings, a difference of 36 listings (7%) versus the prior month and 138 listings (35%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Tullahoma (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,220 sqft |
2018-02-01 | 0 days | 2,289 sqft |
2018-03-01 | 0 days | 2,279 sqft |
2018-04-01 | 0 days | 2,297 sqft |
2018-05-01 | 0 days | 2,420 sqft |
2018-06-01 | 0 days | 2,421 sqft |
2018-07-01 | 0 days | 2,419 sqft |
2018-08-01 | 0 days | 2,308 sqft |
2018-09-01 | 0 days | 2,280 sqft |
2018-10-01 | 0 days | 2,242 sqft |
2018-11-01 | 0 days | 2,255 sqft |
2018-12-01 | 0 days | 2,149 sqft |
2019-01-01 | 0 days | 2,153 sqft |
2019-02-01 | 0 days | 2,176 sqft |
2019-03-01 | 0 days | 2,273 sqft |
2019-04-01 | 0 days | 2,364 sqft |
2019-05-01 | 0 days | 2,453 sqft |
2019-06-01 | 0 days | 2,400 sqft |
2019-07-01 | 0 days | 2,405 sqft |
2019-08-01 | 0 days | 2,345 sqft |
2019-09-01 | 0 days | 2,295 sqft |
2019-10-01 | 0 days | 2,262 sqft |
2019-11-01 | 0 days | 2,240 sqft |
2019-12-01 | 0 days | 2,109 sqft |
2020-01-01 | 0 days | 2,088 sqft |
2020-02-01 | 0 days | 2,061 sqft |
2020-03-01 | 0 days | 2,220 sqft |
2020-04-01 | 0 days | 2,200 sqft |
2020-05-01 | 0 days | 2,269 sqft |
2020-06-01 | 0 days | 2,285 sqft |
2020-07-01 | 0 days | 2,259 sqft |
2020-08-01 | 0 days | 2,226 sqft |
2020-09-01 | 0 days | 2,166 sqft |
2020-10-01 | 0 days | 2,181 sqft |
2020-11-01 | 0 days | 2,099 sqft |
2020-12-01 | 0 days | 1,988 sqft |
2021-01-01 | 0 days | 1,938 sqft |
2021-02-01 | 0 days | 1,920 sqft |
2021-03-01 | 0 days | 1,859 sqft |
2021-04-01 | 0 days | 1,888 sqft |
2021-05-01 | 0 days | 1,915 sqft |
2021-06-01 | 0 days | 1,987 sqft |
2021-07-01 | 0 days | 1,959 sqft |
2021-08-01 | 0 days | 2,057 sqft |
2021-09-01 | 0 days | 2,080 sqft |
2021-10-01 | 0 days | 2,180 sqft |
2021-11-01 | 0 days | 2,140 sqft |
2021-12-01 | 0 days | 2,069 sqft |
2022-01-01 | 0 days | 2,019 sqft |
2022-02-01 | 0 days | 2,030 sqft |
2022-03-01 | 0 days | 2,008 sqft |
2022-04-01 | 0 days | 2,040 sqft |
2022-05-01 | 0 days | 2,118 sqft |
2022-06-01 | 0 days | 2,223 sqft |
2022-07-01 | 0 days | 2,187 sqft |
2022-08-01 | 0 days | 2,090 sqft |
2022-09-01 | 0 days | 2,114 sqft |
2022-10-01 | 0 days | 2,010 sqft |
2022-11-01 | 0 days | 2,002 sqft |
2022-12-01 | 0 days | 1,968 sqft |
2023-01-01 | 0 days | 1,972 sqft |
2023-02-01 | 0 days | 1,928 sqft |
2023-03-01 | 0 days | 1,947 sqft |
2023-04-01 | 0 days | 2,121 sqft |
2023-05-01 | 0 days | 2,174 sqft |
2023-06-01 | 0 days | 2,200 sqft |
2023-07-01 | 0 days | 2,214 sqft |
2023-08-01 | 0 days | 2,159 sqft |
2023-09-01 | 0 days | 2,159 sqft |
2023-10-01 | 0 days | 2,091 sqft |
2023-11-01 | 0 days | 1,925 sqft |
2023-12-01 | 0 days | 1,917 sqft |
2024-01-01 | 0 days | 1,953 sqft |
2024-02-01 | 0 days | 1,967 sqft |
2024-03-01 | 0 days | 2,044 sqft |
2024-04-01 | 0 days | 2,102 sqft |
2024-05-01 | 0 days | 2,068 sqft |
2024-06-01 | 0 days | 2,043 sqft |
2024-07-01 | 0 days | 2,004 sqft |
2024-08-01 | 0 days | 1,961 sqft |
2024-09-01 | 0 days | 1,950 sqft |
Tullahoma's median square footage for active listings during the 2024-09-01 period was 1,950 sqft. One year prior, the average listing was 2,159 sqft.