Kingsport USDA Loans

KINGSPORT-BRISTOL, TN-VA

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Kingsport's 43 lenders originated 182 USDA loans during 2021. The total origination value was $29,240,000, with an average USDA loan value of $160,659.

    Kingsport USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Kingsport averaged 5.62% for the week of 2022-05-20, compared to the national average (all USDA variants) of 5.315% for the same period.

    The average rate for the prior week (2022-05-13) was 5.7% and one month ago for the week of 2022-04-15, the average rate was 5.4%.

    The average rate one year ago was 3.35%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.18%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Kingsport USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Kingsport level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 24 3.54% $2,825
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 22 3.10% $5,598
    CALIBER HOME LOANS, INC. 14 2.73% $4,163
    MORTGAGE INVESTORS GROUP, INC. 12 2.91% $4,941
    MOVEMENT MORTGAGE, LLC 10 2.75% $5,012
    HANCOCK MORTGAGE PARTNERS, LLC 6 2.81% $5,898
    UNITED WHOLESALE MORTGAGE, LLC 6 2.85% $4,855
    CMG MORTGAGE, INC. 6 3.39% $5,167
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 3.31% $4,873
    GUARANTEED RATE, INC. 6 2.83% $5,305
    Sierra Pacific Mortgage Company, Inc. 5 3.05% $5,600
    FIRST COMMUNITY MORTGAGE, INC. 5 2.75% $4,233
    SUCCESS MORTGAGE PARTNERS, INC. 4 3.00% $4,996
    Atlantic Union Bank 4 2.91% $4,673
    EASTMAN 4 3.44% $4,021
    SECURITYNATIONAL MORTGAGE COMPANY 4 3.72% $4,801
    PLANET HOME LENDING, LLC 3 2.75% $4,927
    BROKER SOLUTIONS, INC. 3 3.37% $5,022
    INTERLINC MORTGAGE SERVICES, LLC 3 3.17% $2,187
    HOME POINT FINANCIAL CORPORATION 3 2.79% $5,614
    CROSSCOUNTRY MORTGAGE, LLC 3 3.17% $6,186
    Citizens Bank 2 3.00% $3,981
    Bank of Tennessee 2 3.38% $4,883
    Carrington Mortgage Services, LLC 2 3.81% $5,513
    AMERICAN FINANCIAL NETWORK, INC. 2 3.19% $7,672
    DHI MORTGAGE COMPANY, LTD. 2 2.69% $4,561
    Renasant Bank 2 3.49% $4,531
    STOCKTON MORTGAGE CORPORATION 2 2.88% $6,197
    Hometown Lenders, Inc. 1 3.38% $5,420
    PENNYMAC LOAN SERVICES, LLC 1 3.00% $4,416
    First Heritage Mortgage, LLC 1 3.13% $5,321
    RANLIFE, INC. 1 3.13% $6,307
    Regions Bank 1 2.75% $4,472
    Atlantic Coast Mortgage, LLC 1 2.38% $6,246
    First Guaranty Mortgage Corporation 1 2.75% $3,848
    CRESCENT MORTGAGE COMPANY 1 3.25% $5,517
    SOUTHWEST FUNDING, LP 1 3.63% $5,075
    U.S. Bank 1 3.75% $3,938
    Bank of England 1 3.38% $7,389
    Truist Bank 1 2.75% $5,700
    UNION HOME MORTGAGE CORP. 1 3.25% $3,431
    LOANDEPOT.COM, LLC 1 3.50% $4,698
    Horizon Credit Union 1 3.00% $4,974

    The top Kingsport USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 24 USDA loans originated. Their average total fees are $2,825, which is $2,773 lower than the next largest lender, CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP.

    The lowest fee Kingsport USDA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($2,825), CALIBER HOME LOANS, INC. ($4,163), MORTGAGE INVESTORS GROUP, INC. ($4,941), MOVEMENT MORTGAGE, LLC ($5,012) and CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP ($5,598).

    The lowest rate Kingsport USDA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (2.73%), MOVEMENT MORTGAGE, LLC (2.75%), MORTGAGE INVESTORS GROUP, INC. (2.91%), CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP (3.10%) and ARK-LA-TEX FINANCIAL SERVICES, LLC. (3.54%).

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kingsport (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 $166,750 (11.2%) $259,244 (16.1%) 0.61 1,616
    2018-02-01 $159,900 (3.2%) $255,267 (10.8%) 0.58 1,595
    2018-03-01 $164,900 (-0.9%) $246,627 (-2.0%) 0.57 1,540
    2018-04-01 $174,994 (3.0%) $259,614 (1.6%) 0.59 1,555
    2018-05-01 $178,450 (5.0%) $261,096 (2.1%) 0.60 1,636
    2018-06-01 $179,900 (5.9%) $260,183 (1.3%) 0.60 1,766
    2018-07-01 $177,450 (4.4%) $253,726 (-2.7%) 0.59 1,836
    2018-08-01 $174,994 (-2.3%) $252,236 (-6.1%) 0.58 1,845
    2018-09-01 $175,000 (0.0%) $251,794 (-4.8%) 0.59 1,850
    2018-10-01 $177,200 (2.7%) $256,878 (-2.1%) 0.59 1,877
    2018-11-01 $174,450 (1.8%) $260,182 (-1.3%) 0.58 1,844
    2018-12-01 $169,000 (1.1%) $260,042 (1.0%) 0.58 1,706
    2019-01-01 $167,000 (0.2%) $245,881 (-5.2%) 0.58 1,570
    2019-02-01 $165,000 (3.2%) $245,932 (-3.7%) 0.55 1,521
    2019-03-01 $177,643 (7.7%) $263,040 (6.7%) 0.58 1,406
    2019-04-01 $194,700 (11.3%) $285,207 (9.9%) 0.61 1,280
    2019-05-01 $204,000 (14.3%) $289,318 (10.8%) 0.63 1,307
    2019-06-01 $209,900 (16.7%) $295,996 (13.8%) 0.65 1,377
    2019-07-01 $214,900 (21.1%) $297,297 (17.2%) 0.67 1,405
    2019-08-01 $212,814 (21.6%) $298,742 (18.4%) 0.67 1,397
    2019-09-01 $204,950 (17.1%) $298,950 (18.7%) 0.65 1,393
    2019-10-01 $202,450 (14.3%) $293,072 (14.1%) 0.65 1,441
    2019-11-01 $185,000 (6.1%) $269,091 (3.4%) 0.60 1,697
    2019-12-01 $198,250 (17.3%) $288,108 (10.8%) 0.66 1,327
    2020-01-01 $199,000 (19.2%) $290,186 (18.0%) 0.66 1,225
    2020-02-01 $200,000 (21.2%) $297,585 (21.0%) 0.65 1,077
    2020-03-01 $219,900 (23.8%) $311,610 (18.5%) 0.69 988
    2020-04-01 $218,900 (12.4%) $311,997 (9.4%) 0.68 955
    2020-05-01 $225,000 (10.3%) $322,721 (11.6%) 0.68 841
    2020-06-01 $232,585 (10.8%) $331,945 (12.2%) 0.68 809
    2020-07-01 $239,950 (11.7%) $339,281 (14.1%) 0.69 744
    2020-08-01 $239,900 (12.7%) $339,208 (13.6%) 0.69 705
    2020-09-01 $225,000 (9.8%) $328,829 (10.0%) 0.64 695
    2020-10-01 $215,000 (6.2%) $317,228 (8.2%) 0.61 672
    2020-11-01 $213,500 (15.4%) $332,265 (23.5%) 0.61 627
    2020-12-01 $209,900 (5.9%) $346,471 (20.3%) 0.62 575
    2021-01-01 $200,000 (0.5%) $361,768 (24.7%) 0.59 506
    2021-02-01 $215,000 (7.5%) $379,727 (27.6%) 0.62 394
    2021-03-01 $226,943 (3.2%) $411,618 (32.1%) 0.64 362
    2021-04-01 $245,000 (11.9%) $410,796 (31.7%) 0.66 341
    2021-05-01 $259,900 (15.5%) $421,813 (30.7%) 0.68 351
    2021-06-01 $259,943 (11.8%) $388,897 (17.2%) 0.68 438
    2021-07-01 $249,993 (4.2%) $385,499 (13.6%) 0.65 457
    2021-08-01 $247,450 (3.2%) $395,192 (16.5%) 0.65 497
    2021-09-01 $249,450 (10.9%) $443,405 (34.8%) 0.66 490
    2021-10-01 $269,900 (25.5%) $439,943 (38.7%) 0.71 467
    2021-11-01 $250,500 (17.3%) $416,383 (25.3%) 0.66 437
    2021-12-01 $249,950 (19.1%) $438,175 (26.5%) 0.67 376
    2022-01-01 $249,900 (25.0%) $481,166 (33.0%) 0.67 291
    2022-02-01 $264,500 (23.0%) $510,470 (34.4%) 0.67 256
    2022-03-01 $277,000 (22.1%) $511,338 (24.2%) 0.68 244
    2022-04-01 $289,000 (18.0%) $510,307 (24.2%) 0.68 257
    Kingsport's median listing price for 2022-04-01 was $289,000, a difference of $44,000 (18.0%) versus the prior year and $12,000 versus the prior month.

    Kingsport's median listing price comes in at 68% of the national average.

    Kingsport's average listing price for 2022-04-01 was $510,307, a difference of $99,511 (24.2%) versus the prior year and $-1,031 versus the prior month.

    For the 2022-04-01 period, Kingsport had 257 MLS listings, a difference of 13 listings (5%) versus the prior month and -84 listings (-25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kingsport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 115 days 1,887 sqft
    2018-02-01 114 days 1,831 sqft
    2018-03-01 115 days 1,820 sqft
    2018-04-01 92 days 1,866 sqft
    2018-05-01 82 days 1,926 sqft
    2018-06-01 77 days 1,979 sqft
    2018-07-01 73 days 1,996 sqft
    2018-08-01 79 days 1,987 sqft
    2018-09-01 85 days 1,998 sqft
    2018-10-01 92 days 1,988 sqft
    2018-11-01 99 days 1,914 sqft
    2018-12-01 113 days 1,942 sqft
    2019-01-01 120 days 1,787 sqft
    2019-02-01 122 days 1,808 sqft
    2019-03-01 106 days 1,918 sqft
    2019-04-01 76 days 2,059 sqft
    2019-05-01 67 days 2,084 sqft
    2019-06-01 70 days 2,089 sqft
    2019-07-01 73 days 2,124 sqft
    2019-08-01 79 days 2,122 sqft
    2019-09-01 79 days 2,086 sqft
    2019-10-01 76 days 2,047 sqft
    2019-11-01 78 days 2,000 sqft
    2019-12-01 91 days 2,076 sqft
    2020-01-01 104 days 2,085 sqft
    2020-02-01 109 days 2,002 sqft
    2020-03-01 97 days 2,046 sqft
    2020-04-01 79 days 2,016 sqft
    2020-05-01 83 days 2,044 sqft
    2020-06-01 85 days 2,021 sqft
    2020-07-01 68 days 2,040 sqft
    2020-08-01 63 days 2,074 sqft
    2020-09-01 52 days 2,005 sqft
    2020-10-01 53 days 1,965 sqft
    2020-11-01 53 days 1,946 sqft
    2020-12-01 58 days 1,985 sqft
    2021-01-01 72 days 1,945 sqft
    2021-02-01 79 days 1,945 sqft
    2021-03-01 62 days 1,960 sqft
    2021-04-01 41 days 1,883 sqft
    2021-05-01 34 days 1,904 sqft
    2021-06-01 31 days 1,919 sqft
    2021-07-01 36 days 1,902 sqft
    2021-08-01 34 days 1,903 sqft
    2021-09-01 41 days 1,902 sqft
    2021-10-01 44 days 2,049 sqft
    2021-11-01 51 days 1,856 sqft
    2021-12-01 52 days 1,793 sqft
    2022-01-01 57 days 1,802 sqft
    2022-02-01 45 days 1,842 sqft
    2022-03-01 36 days 1,887 sqft
    2022-04-01 24 days 1,815 sqft
    Kingsport's median listing age (time on market) for 2022-04-01 was 24 days. This is -41% shorter than the same period one year ago.

    Kingsport's median square footage for active listings during the 2022-04-01 period was 1,815 sqft. One year prior, the average listing was 1,883 sqft.