Tullahoma FHA Loans
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 83 lenders originated 469 FHA loans during 2021. The total origination value was $91,355,000, with an average FHA loan value of $194,787.
Tullahoma FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Tullahoma
averaged
5.34%
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
5.48% and
one month ago for the week of 2022-07-01, the
average rate was 5.37%.
The average rate one year ago was 3.08%.
For refis of the same type during the week of 2022-08-05, the average rate
was 4.81%.
Tullahoma 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 Tullahoma level.
The top Tullahoma FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
60 FHA loans originated. Their average total fees are
$6,198, which is $708
lower than the next largest lender,
FIRST COMMUNITY MORTGAGE, INC..
The lowest fee Tullahoma FHA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($4,666), PENNYMAC LOAN SERVICES, LLC ($5,388), STOCKTON MORTGAGE CORPORATION ($6,151), QUICKEN LOANS, LLC ($6,198) and LOANDEPOT.COM, LLC ($6,570).
The lowest rate Tullahoma FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.73%), FREEDOM MORTGAGE CORPORATION (2.76%), PENNYMAC LOAN SERVICES, LLC (2.85%), First Horizon Bank (2.85%) and STOCKTON MORTGAGE CORPORATION (3.17%).
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 |
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 | $257,450 (17.3%) | $372,126 (17.7%) | 0.00 | 347 |
2018-02-01 | $279,200 (29.9%) | $387,922 (24.7%) | 0.00 | 335 |
2018-03-01 | $278,500 (26.9%) | $386,757 (22.1%) | 0.00 | 342 |
2018-04-01 | $294,950 (31.2%) | $384,139 (16.7%) | 0.00 | 340 |
2018-05-01 | $299,900 (10.7%) | $393,970 (2.0%) | 0.00 | 341 |
2018-06-01 | $310,000 (14.9%) | $397,035 (4.5%) | 0.00 | 358 |
2018-07-01 | $299,700 (5.2%) | $395,704 (1.1%) | 0.00 | 364 |
2018-08-01 | $297,250 (8.1%) | $387,679 (0.9%) | 0.00 | 374 |
2018-09-01 | $279,900 (5.7%) | $375,034 (-0.1%) | 0.00 | 385 |
2018-10-01 | $279,900 (5.6%) | $372,496 (-1.3%) | 0.00 | 390 |
2018-11-01 | $276,750 (10.7%) | $362,926 (-2.1%) | 0.00 | 388 |
2018-12-01 | $259,900 (0.0%) | $339,904 (-9.9%) | 0.00 | 386 |
2019-01-01 | $259,900 (1.0%) | $337,576 (-9.3%) | 0.00 | 362 |
2019-02-01 | $264,900 (-5.1%) | $343,858 (-11.4%) | 0.00 | 360 |
2019-03-01 | $276,329 (-0.8%) | $359,252 (-7.1%) | 0.00 | 333 |
2019-04-01 | $281,329 (-4.6%) | $368,176 (-4.2%) | 0.00 | 309 |
2019-05-01 | $299,900 (0.0%) | $383,318 (-2.7%) | 0.00 | 320 |
2019-06-01 | $299,500 (-3.4%) | $381,982 (-3.8%) | 0.00 | 337 |
2019-07-01 | $299,945 (0.1%) | $405,982 (2.6%) | 0.00 | 345 |
2019-08-01 | $291,380 (-2.0%) | $404,688 (4.4%) | 0.00 | 360 |
2019-09-01 | $281,335 (0.5%) | $402,371 (7.3%) | 0.00 | 375 |
2019-10-01 | $289,450 (3.4%) | $405,538 (8.9%) | 0.00 | 370 |
2019-11-01 | $284,000 (2.6%) | $400,545 (10.4%) | 0.00 | 360 |
2019-12-01 | $264,750 (1.9%) | $375,806 (10.6%) | 0.00 | 346 |
2020-01-01 | $259,900 (0.0%) | $372,832 (10.4%) | 0.00 | 317 |
2020-02-01 | $259,999 (-1.9%) | $367,939 (7.0%) | 0.00 | 300 |
2020-03-01 | $296,250 (7.2%) | $395,953 (10.2%) | 0.00 | 283 |
2020-04-01 | $279,900 (-0.5%) | $386,480 (5.0%) | 0.00 | 282 |
2020-05-01 | $306,990 (2.4%) | $402,773 (5.1%) | 0.00 | 252 |
2020-06-01 | $319,900 (6.8%) | $405,581 (6.2%) | 0.00 | 210 |
2020-07-01 | $314,900 (5.0%) | $396,578 (-2.3%) | 0.00 | 196 |
2020-08-01 | $320,000 (9.8%) | $403,922 (-0.2%) | 0.00 | 167 |
2020-09-01 | $309,450 (10.0%) | $426,568 (6.0%) | 0.00 | 148 |
2020-10-01 | $319,000 (10.2%) | $437,031 (7.8%) | 0.00 | 145 |
2020-11-01 | $307,450 (8.3%) | $453,531 (13.2%) | 0.00 | 135 |
2020-12-01 | $282,350 (6.7%) | $433,203 (15.3%) | 0.00 | 138 |
2021-01-01 | $264,900 (1.9%) | $411,435 (10.4%) | 0.00 | 131 |
2021-02-01 | $291,400 (12.1%) | $429,463 (16.7%) | 0.00 | 117 |
2021-03-01 | $311,400 (5.1%) | $457,944 (15.7%) | 0.00 | 99 |
2021-04-01 | $355,000 (26.8%) | $533,981 (38.2%) | 0.00 | 97 |
2021-05-01 | $419,000 (36.5%) | $520,499 (29.2%) | 0.00 | 112 |
2021-06-01 | $387,450 (21.1%) | $534,925 (31.9%) | 0.00 | 112 |
2021-07-01 | $374,950 (19.1%) | $521,715 (31.6%) | 0.00 | 133 |
2021-08-01 | $396,000 (23.8%) | $518,839 (28.5%) | 0.00 | 161 |
2021-09-01 | $386,950 (25.0%) | $525,535 (23.2%) | 0.00 | 164 |
2021-10-01 | $389,000 (21.9%) | $564,730 (29.2%) | 0.00 | 167 |
2021-11-01 | $399,450 (29.9%) | $587,863 (29.6%) | 0.00 | 172 |
2021-12-01 | $389,500 (38.0%) | $583,232 (34.6%) | 0.00 | 159 |
2022-01-01 | $392,900 (48.3%) | $575,580 (39.9%) | 0.00 | 134 |
2022-02-01 | $409,950 (40.7%) | $601,395 (40.0%) | 0.00 | 127 |
2022-03-01 | $399,900 (28.4%) | $607,225 (32.6%) | 0.00 | 138 |
2022-04-01 | $445,000 (25.4%) | $595,210 (11.5%) | 0.00 | 158 |
2022-05-01 | $462,400 (10.4%) | $614,343 (18.0%) | 0.00 | 220 |
2022-06-01 | $457,950 (18.2%) | $613,833 (14.8%) | 0.00 | 277 |
Tullahoma's median listing price comes in at 0% of the national average.
Tullahoma's average listing price for 2022-06-01 was $613,833, a difference of $78,908 (14.8%) versus the prior year and $-510 versus the prior month.
For the 2022-06-01 period, Tullahoma had 277 MLS listings, a difference of 57 listings (26%) versus the prior month and 165 listings (147%) 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 | 2,266 sqft |
2018-02-01 | 0 days | 2,297 sqft |
2018-03-01 | 0 days | 2,300 sqft |
2018-04-01 | 0 days | 2,310 sqft |
2018-05-01 | 0 days | 2,432 sqft |
2018-06-01 | 0 days | 2,474 sqft |
2018-07-01 | 0 days | 2,462 sqft |
2018-08-01 | 0 days | 2,372 sqft |
2018-09-01 | 0 days | 2,300 sqft |
2018-10-01 | 0 days | 2,263 sqft |
2018-11-01 | 0 days | 2,265 sqft |
2018-12-01 | 0 days | 2,150 sqft |
2019-01-01 | 0 days | 2,152 sqft |
2019-02-01 | 0 days | 2,186 sqft |
2019-03-01 | 0 days | 2,243 sqft |
2019-04-01 | 0 days | 2,300 sqft |
2019-05-01 | 0 days | 2,447 sqft |
2019-06-01 | 0 days | 2,422 sqft |
2019-07-01 | 0 days | 2,475 sqft |
2019-08-01 | 0 days | 2,381 sqft |
2019-09-01 | 0 days | 2,292 sqft |
2019-10-01 | 0 days | 2,285 sqft |
2019-11-01 | 0 days | 2,296 sqft |
2019-12-01 | 0 days | 2,168 sqft |
2020-01-01 | 0 days | 2,116 sqft |
2020-02-01 | 0 days | 2,067 sqft |
2020-03-01 | 0 days | 2,260 sqft |
2020-04-01 | 0 days | 2,213 sqft |
2020-05-01 | 0 days | 2,288 sqft |
2020-06-01 | 0 days | 2,293 sqft |
2020-07-01 | 0 days | 2,302 sqft |
2020-08-01 | 0 days | 2,373 sqft |
2020-09-01 | 0 days | 2,254 sqft |
2020-10-01 | 0 days | 2,300 sqft |
2020-11-01 | 0 days | 2,225 sqft |
2020-12-01 | 0 days | 2,021 sqft |
2021-01-01 | 0 days | 1,944 sqft |
2021-02-01 | 0 days | 1,928 sqft |
2021-03-01 | 0 days | 2,009 sqft |
2021-04-01 | 0 days | 1,980 sqft |
2021-05-01 | 0 days | 1,931 sqft |
2021-06-01 | 0 days | 1,989 sqft |
2021-07-01 | 0 days | 2,044 sqft |
2021-08-01 | 0 days | 2,140 sqft |
2021-09-01 | 0 days | 2,228 sqft |
2021-10-01 | 0 days | 2,304 sqft |
2021-11-01 | 0 days | 2,225 sqft |
2021-12-01 | 0 days | 2,215 sqft |
2022-01-01 | 0 days | 2,070 sqft |
2022-02-01 | 0 days | 2,108 sqft |
2022-03-01 | 0 days | 2,111 sqft |
2022-04-01 | 0 days | 2,136 sqft |
2022-05-01 | 0 days | 2,262 sqft |
2022-06-01 | 0 days | 2,286 sqft |
Tullahoma's median square footage for active listings during the 2022-06-01 period was 2,286 sqft. One year prior, the average listing was 1,989 sqft.