Kingsport USDA Loans

KINGSPORT-BRISTOL, TN-VA

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.