Tennessee FHA Loan Rates, Closing Costs & Stats

Tennessee

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    • 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.

    Tennessee FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tennessee averaged 5.98% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    Tennessee's average FHA mortgage closing costs are $7,589.

    The average rate for the prior week (2023-05-19) was 5.86% and one month ago for the week of 2023-04-21, the average rate was 5.9%.

    The average rate one year ago was 4.92%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.23%.

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

    Tennessee 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 Tennessee level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    QUICKEN LOANS, LLC 2,074 4.53% $10,185
    MORTGAGE INVESTORS GROUP, INC. 1,099 4.85% $8,516
    UNITED WHOLESALE MORTGAGE, LLC 736 4.80% $10,906
    FIRST COMMUNITY MORTGAGE, INC. 690 4.90% $10,623
    CARDINAL FINANCIAL 681 5.06% $11,329
    LOANDEPOT.COM, LLC 664 4.75% $10,784
    CMG MORTGAGE, INC. 537 5.08% $12,771
    PENNYMAC LOAN SERVICES, LLC 467 4.32% $11,171
    FREEDOM MORTGAGE CORPORATION 418 4.88% $10,453
    DHI MORTGAGE COMPANY, LTD. 353 4.26% $8,791
    MOVEMENT MORTGAGE, LLC 349 5.07% $9,925
    Mr. Cooper ( Nationstar Mortgage ) 346 4.59% $11,813
    CALIBER HOME LOANS, INC. 339 4.74% $9,791
    BROKER SOLUTIONS, INC. 311 5.16% $10,361
    CROSSCOUNTRY MORTGAGE, LLC 280 5.28% $12,149
    FirstBank 277 4.75% $9,456
    AMERISAVE MORTGAGE CORPORATION 261 4.67% $11,411
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 259 4.93% $8,924
    Carrington Mortgage Services, LLC 257 5.12% $11,321
    COMMUNITY MORTGAGE CORPORATION 234 4.81% $8,834
    LAKEVIEW LOAN SERVICING, LLC 234 4.24% $7,457
    STOCKTON MORTGAGE CORPORATION 219 4.92% $9,156
    Regions Bank 196 5.08% $7,853
    PRIMARY RESIDENTIAL MORTGAGE, INC. 170 4.83% $11,595
    Nations Lending Corporation 169 5.24% $11,338
    EVERETT FINANCIAL, INC. 168 5.42% $5,571
    NVR Mortgage Finance, Inc. 165 4.20% $15,156
    SWBC MORTGAGE CORPORATION 163 5.21% $9,753
    HOME POINT FINANCIAL CORPORATION 153 4.45% $9,516
    GUARANTEED RATE, INC. 144 4.93% $11,153
    SOUTHWEST FUNDING, LP 142 5.34% $13,362
    ACOPIA, LLC 136 5.05% $11,808
    Leaders Credit Union 118 5.30% $5,086
    AMERICAN PACIFIC MORTGAGE CORPORATION 117 4.97% $12,772
    NEWREZ LLC 116 4.83% $9,231
    Bank of England 115 5.02% $10,839
    Flagstar Bank, FSB 111 4.74% $9,068
    TJC Mortgage, Inc. 108 4.98% $10,452
    CHURCHILL MORTGAGE CORPORATION 106 4.76% $11,417
    INTERLINC MORTGAGE SERVICES, LLC 101 5.16% $8,436
    Equity Prime Mortgage LLC 99 5.57% $11,135
    VANDERBILT MORTGAGE AND FINANCE, INC. 98 4.49% $11,215
    Paramount Residential Mortgage Group, Inc. 97 4.99% $12,065
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 95 4.87% $10,965
    PLANET HOME LENDING, LLC 94 4.44% $8,560
    Mortgage Research Center, LLC 94 5.04% $7,208
    First Horizon Bank 92 4.55% $8,789
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 91 5.14% $8,680
    F&M Bank 90 4.53% $9,758
    SUCCESS MORTGAGE PARTNERS, INC. 89 5.05% $9,975
    RELIANCE FIRST CAPITAL, LLC 88 4.88% $11,718
    UNION HOME MORTGAGE CORP. 85 5.28% $9,848
    Renasant Bank 85 4.98% $8,418
    BancorpSouth Bank 84 4.83% $7,996
    Sierra Pacific Mortgage Company, Inc. 84 4.81% $11,135
    TOP FLITE FINANCIAL, INC. 84 5.28% $14,983
    Pinnacle Bank 78 4.70% $8,397
    VILLAGE CAPITAL MORTGAGE 77 3.99% $6,592
    AMERICAN FINANCIAL RESOURCES, INC. 77 4.86% $9,424
    THE MORTGAGE FIRM, INC. 75 5.02% $12,061
    AMCAP MORTGAGE, LTD. 75 4.92% $9,805
    Legacy Home Loans, LLC 74 4.84% $10,591
    Gateway First Bank 73 5.23% $7,396
    HOMESIDE FINANCIAL, LLC 69 5.18% $10,654
    MUTUAL OF OMAHA MORTGAGE, INC. 69 4.97% $12,943
    PRIMELENDING, A PLAINSCAPITAL COMPANY 68 4.90% $10,442
    Citizens Bank 68 4.57% $9,461
    Hometown Lenders, Inc. 67 4.96% $10,301
    EAGLE HOME MORTGAGE, LLC 66 4.93% $13,513
    The First National Bank of Middle Tennessee 64 4.68% $10,011
    BARTLETT MORTGAGE, INC. 63 4.66% $8,294
    Patriot Bank 62 4.91% $8,175
    Ameris Bank 62 5.04% $10,108
    HOMEBRIDGE FINANCIAL SERVICES, INC. 57 4.90% $11,076
    AMERICAN FINANCING CORPORATION 55 4.54% $8,931
    First Vision Bank of Tennessee 52 4.62% $9,949
    NFM, INC. 52 5.76% $11,061
    INSPIRE HOME LOANS INC. 51 4.97% $14,669
    T2 FINANCIAL LLC 50 5.17% $11,675
    VAN DYK MORTGAGE CORPORATION 50 5.15% $8,395
    SECURITYNATIONAL MORTGAGE COMPANY 49 4.88% $9,332
    CapStar Bank 47 4.29% $9,396
    United Community Bank 47 4.80% $8,548
    GUILD MORTGAGE COMPANY 46 5.01% $10,018
    The Home Loan Expert LLC 45 4.38% $8,989
    HANCOCK MORTGAGE PARTNERS, LLC 44 5.67% $10,698
    MID AMERICA MORTGAGE, INC. 43 6.30% $6,873
    AMERICAN MORTGAGE SERVICE COMPANY 42 4.78% $9,143
    Wolfe Financial, Inc 42 5.18% $11,220
    First Citizens National Bank 41 4.63% $7,081
    Simmons Bank 41 5.06% $7,403
    SUMMIT FUNDING, INC. 41 5.40% $10,283
    U.S. Bank 40 5.04% $8,252
    Colten Mortgage, LLC 39 4.89% $11,898
    SeaTrust Mortgage Company 37 5.75% $11,139
    AmRes Corporation 36 5.20% $12,297
    Princeton Mortgage Corporation 36 5.12% $10,182
    DAS Acquisition Company, LLC 36 4.76% $10,411
    LEADERONE FINANCIAL CORPORATION 36 5.33% $10,453
    First Guaranty Mortgage Corporation 35 3.97% $8,353
    MILEND, INC. 35 5.21% $15,086
    GENEVA FINANCIAL, LLC 35 4.79% $11,225
    HOMESTAR FINANCIAL CORPORATION 33 5.41% $8,009
    Northpointe Bank 33 4.82% $11,543
    EUSTIS AND AMERICAN MORTGAGE COMPANY 32 5.07% $11,704
    FINANCE OF AMERICA MORTGAGE LLC 31 4.41% $10,033
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 31 4.88% $10,514
    Plains Commerce Bank 30 5.06% $10,584
    Trustmark National Bank 30 5.23% $8,358
    ISERVE RESIDENTIAL LENDING, LLC 29 3.95% $11,125
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 29 4.90% $11,419
    AmeriHome Mortgage Company, LLC 29 4.87% $9,189
    Hometown Equity Mortgage, LLC 28 5.50% $12,761
    TENNESSEE TRUST MORTGAGE, INC 27 4.77% $8,158
    JLB CORPORATION 26 4.55% $10,031
    GUARANTY HOME MORTGAGE CORPORATION 26 4.84% $9,432
    BAY EQUITY LLC 26 5.14% $11,863
    The Federal Savings Bank 26 4.66% $15,234
    SUN WEST MORTGAGE COMPANY, INC. 26 4.96% $11,230
    Truist 25 4.99% $7,991
    LAND HOME FINANCIAL SERVICES, INC. 25 5.62% $9,603
    MORTGAGE SOLUTIONS OF COLORADO, LLC 24 5.10% $13,887
    CASTLE & COOKE MORTGAGE, LLC 24 4.69% $11,294
    Wilson Bank And Trust 24 4.53% $8,531
    ZILLOW HOME LOANS, LLC 24 4.73% $9,886
    Evolve Bank & Trust 23 4.52% $8,534
    M&T Bank 23 4.34% $9,254
    LIBERTY HOME MORTGAGE CORPORATION 22 5.49% $11,499
    CANOPY MORTGAGE, LLC 22 5.16% $12,506
    Orion Federal Credit Union 19 5.59% $8,965
    Austin Capital Bank SSB 19 5.03% $12,540
    PLAZA HOME MORTGAGE, INC. 19 5.30% $11,746
    NETWORK CAPITAL FUNDING CORPORATION 19 4.82% $10,386
    Century Mortgage Company DBA Century Lending Company 18 5.24% $9,596
    Bank of America 18 4.67% $7,213
    KELLEY MORTGAGE, LLC 18 4.67% $3,639
    PANORAMA MORTGAGE GROUP, LLC 17 5.33% $9,876
    JPMorgan Chase Bank 17 4.79% $8,920
    NATIONS DIRECT MORTGAGE, LLC 17 4.63% $11,441
    Bell Bank 16 5.32% $11,494
    SOVEREIGN LENDING GROUP INCORPORATED 16 4.90% $11,796
    ACADEMY MORTGAGE CORPORATION 16 4.91% $11,248
    EMBRACE HOME LOANS, INC. 16 5.14% $9,450
    Bank of Tennessee 16 5.11% $7,866
    POLARIS HOME FUNDING CORP. 16 5.22% $11,462
    First Option Mortgage, LLC 16 5.13% $10,382
    Magnolia Bank 16 4.81% $8,137
    SOUTHPOINT FINANCIAL SERVICES, INC. 15 5.23% $11,713
    GSF Mortgage Corporation 15 5.15% $12,268
    Independent Bank 15 4.35% $6,971
    Wells Fargo Bank 15 4.99% $6,562
    Barrington Bank & Trust Company, N.A. 15 4.83% $10,161
    CALCON MUTUAL MORTGAGE LLC 14 4.80% $12,659
    Amerifirst Financial, Inc. 14 5.58% $9,831
    EVANSVILLE TEACHERS 14 5.02% $9,765
    CORNERSTONE HOME LENDING, INC. 14 4.85% $10,399
    KELLER MORTGAGE, LLC 14 4.38% $10,217
    THRIVE MORTGAGE, LLC 14 6.10% $11,831
    MEMBER FIRST MORTGAGE, LLC 14 4.67% $8,681
    ROYAL UNITED MORTGAGE LLC 13 4.88% $11,388
    VERITAS FUNDING, LLC 13 4.85% $13,863
    NORTHERN MORTGAGE SERVICES, LLC 13 5.38% $9,629
    PULTE MORTGAGE LLC 13 5.18% $10,383
    SOUTHWEST STAGE FUNDING, LLC 12 4.71% $7,271
    LOANPAL, LLC 12 3.83% $12,184
    Ixonia Bank 12 5.26% $12,419
    RESIDENTIAL BANCORP. 11 4.28% $10,521
    UNITED MORTGAGE CORP. 11 4.65% $11,491
    Fifth Third Bank 11 4.57% $9,337
    MIDLAND MORTGAGE CORPORATION 11 5.15% $13,940
    MICHIGAN MUTUAL, INC. 11 5.81% $11,271
    RUOFF MORTGAGE COMPANY, INC. 11 4.81% $7,976
    LADERA LENDING, INC. 11 5.14% $12,323
    Legends Bank 10 4.86% $10,325
    CRESCENT MORTGAGE COMPANY 10 4.56% $8,280
    The Central Trust Bank 10 5.01% $13,956
    Wyndham Capital Mortgage, Inc. 10 5.80% $8,487
    Shamrock Home Loans, Inc. 10 5.44% $12,080
    OCMBC, INC. 10 6.46% $12,601
    Atlantic Union Bank 10 4.94% $14,499
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 10 5.55% $11,796
    ROSS MORTGAGE CORPORATION 10 5.84% $10,059
    NATIONWIDE MORTGAGE BANKERS, INC. 10 5.10% $12,798
    TOWNE MORTGAGE COMPANY 10 4.85% $9,260
    1ST SIGNATURE LENDING, LLC 9 4.92% $11,598
    COMPASS MORTGAGE, INC. 9 5.57% $11,462
    Eagle Bank and Trust Company 9 4.54% $6,973
    EMM LOANS LLC 9 5.26% $13,763
    Franklin Loan Corporation 9 4.88% $16,688
    RESIDENTIAL WHOLESALE MORTGAGE, INC. 9 4.94% $14,562
    UNITED SECURITY FINANCIAL CORP 9 6.04% $10,778
    Alcova Mortgage LLC 8 6.11% $9,862
    DRAPER AND KRAMER MORTGAGE CORP. 8 5.45% $10,526
    PREMIA MORTGAGE, LLC 8 4.08% $8,099
    GUARANTY MORTGAGE SERVICES, L.L.C. 8 5.25% $10,725
    First Federal Bank 8 5.39% $10,121
    MORIA DEVELOPMENT, INC. 8 4.59% $13,194
    First Federal Bank 8 3.84% $9,322
    AMERIFIRST FINANCIAL CORPORATION 8 5.22% $10,456
    NEW DAY FINANCIAL, LLC 7 5.66% $11,680
    Christensen Financial, Inc. 7 4.57% $9,786
    UNITED HOME LOANS, INC. 7 4.61% $12,382
    Peoples Bank 7 4.91% $15,651
    SmartBank 7 4.96% $8,068
    BETTER MORTGAGE CORPORATION 7 4.00% $11,463
    TruHome Solutions, LLC 7 4.77% $8,604
    Loan Simple, Inc. 7 5.11% $10,367
    ARC HOME LLC 6 4.17% $8,462
    FLAT BRANCH MORTGAGE, INC. 6 5.44% $11,142
    Synovus Bank 6 5.00% $9,863
    The Farmers Bank 6 4.42% $9,459
    INTERCOASTAL MORTGAGE COMPANY 6 4.85% $10,082
    The Huntington National Bank 5 4.40% $8,707
    S1L, Inc. 5 5.13% $14,324
    AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 5 4.38% $9,777
    Countybank 5 5.53% $8,987
    Residential Mortgage Solutions, Inc. 5 5.67% $15,277
    CONTOUR MORTGAGE CORPORATION 5 4.70% $13,833
    GREAT WESTERN FINANCIAL SERVICES, INC. 5 4.83% $9,170
    BECKAM FUNDING CORP. 5 4.83% $15,587
    Waterstone Mortgage Corporation 5 3.93% $11,020
    PENTAGON FEDERAL CREDIT UNION 4 4.50% $11,509
    RANLIFE, INC. 4 4.97% $9,933
    DELMAR FINANCIAL COMPANY 4 5.06% $10,023
    CIS Financial Services, Inc. 4 4.66% $10,000
    MLD MORTGAGE INC. 4 6.56% $11,574
    PHH Mortgage Corporation 4 5.69% $11,002
    ASCEND FEDERAL CREDIT UNION 4 5.47% $8,879
    ALAMEDA MORTGAGE CORPORATION 4 6.84% $11,361
    Assurance Financial Group, L.L.C. 4 4.34% $10,682
    TOTAL MORTGAGE SERVICES, LLC 4 4.25% $11,812
    GVC MORTGAGE, INC. 4 6.75% $10,759
    NBKC BANK 4 4.00% $9,689
    Texana Bank 4 3.44% $9,692
    Community Bank of Mississippi 4 4.41% $7,012
    NATIONS RELIABLE LENDING, LLC 3 5.58% $11,463
    Commerce Home Mortgage, Inc. 3 3.88% $12,413
    SHELTER HOME MORTGAGE, LLC 3 5.25% $16,152
    SIRVA MORTGAGE, INC. 3 5.92% $9,450
    ON Q FINANCIAL, INC. 3 4.25% $9,189
    CHERRY CREEK MORTGAGE, LLC 3 5.71% $3,806
    CB&S Bank, Inc. 3 4.88% $8,494
    HOMESPIRE MORTGAGE CORPORATION 3 5.79% $14,592
    Goldwater Bank, N.A. 3 4.21% $12,318
    US MORTGAGE CORPORATION 3 5.29% $14,075
    ALLIED MORTGAGE GROUP, INC. 3 4.75% $10,309
    ENDEAVOR CAPITAL, LLC. 3 5.29% $8,255
    Willamette Valley Bank 3 4.29% $9,298
    North American Savings Bank, F.S.B. 3 4.33% $7,571
    FirstTrust Home Loans, Inc. 3 6.71% $12,013
    CityWorth Mortgage LLC 2 4.69% $9,268
    ENVOY MORTGAGE, LTD 2 5.44% $11,607
    HERITAGE SOUTH COMMUNITY CU 2 3.56% $11,020
    Arvest Bank 2 2.94% $9,067
    ASPIRE FINANCIAL, INC. 2 6.56% $7,183
    ENCORE BANK 2 5.63% $12,553
    Colonial Savings, F.A. 2 4.88% $20,860
    BAYSHORE MORTGAGE FUNDING, LLC 2 5.88% $14,664
    NEXERA HOLDING LLC 2 5.19% $10,279
    BEST CAPITAL FUNDING 2 4.56% $11,225
    Lend Smart Mortgage, LLC 2 5.69% $11,738
    Prosperity Home Mortgage, LLC 2 5.37% $13,526
    Blue Ridge Bank 2 5.50% $9,753
    Servion, Inc. 2 4.25% $8,345
    COMMUNITY MORTGAGE, LLC 2 5.94% $11,330
    CERTAINTY HOME LOANS, LLC 2 4.94% $12,011
    RAPID MORTGAGE COMPANY 2 5.63% $12,051
    Strong Home Mortgage, LLC 2 4.19% $11,061
    First Western Trust Bank 2 4.88% $7,717
    STEARNS LENDING, LLC 2 4.19% $6,750
    DATA MORTGAGE, INC. 2 5.56% $11,130
    NORWICH COMMERCIAL GROUP, INC. 2 5.63% $10,986
    Credence Funding Corporation 2 4.50% $24,762
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 5.38% $14,147
    MORTGAGE FINANCIAL GROUP, INC. 2 5.31% $8,411
    MYCUMORTGAGE, LLC 2 4.63% $8,003
    Origin Bank 2 6.19% $10,157
    GMFS LLC 2 3.94% $9,632
    First Savings Bank 2 3.25% $14,583
    PNC Bank 2 5.13% $9,534
    Armed Forces Bank 2 5.25% $10,318
    ALTRA 2 3.94% $9,614
    Victorian Finance, LLC 2 5.25% $7,976
    Luxury Mortgage Corp. 1 5.25% $10,713
    MCLEAN MORTGAGE CORPORATION 1 5.25% $9,169
    JMAC LENDING, INC. 1 2.88% $14,500
    Meridian Bank Corporation 1 3.50% $6,219
    JAMES B. NUTTER & COMPANY 1 4.88% $7,193
    INTERSTATE HOME LOAN CENTER, INC. 1 5.63% $33,742
    Mid-Continent Funding, Inc. 1 4.13% $8,235
    Midwest BankCentre 1 5.13% $7,416
    INLANTA MORTGAGE, INC. 1 6.63% $10,415
    MJW Financial LLC 1 5.25% $18,935
    ML Mortgage Corp. 1 5.25% $6,462
    MORTGAGE ACCESS CORP. 1 3.75% $10,939
    MORTGAGE FINANCIAL SERVICES, LLC 1 5.63% $9,437
    HomePromise Corporation 1 5.25% $13,327
    Home Federal Bank 1 5.50% $10,433
    GUARANTEED RATE AFFINITY, LLC 1 4.58% $9,823
    GoPrime Mortgage, Inc. 1 6.75% $8,329
    Neighborhood Loans, Inc. 1 7.00% $12,513
    GERSHMAN INVESTMENT CORP. 1 4.50% $8,667
    Notre Dame Federal Credit Union Corporation 1 6.25% $10,234
    NP, Inc. 1 6.50% $8,940
    OCEANSIDE MORTGAGE COMPANY 1 6.25% $3,185
    OPEN MORTGAGE, LLC 1 5.25% $12,070
    FIRST MORTGAGE COMPANY, INC. 1 4.63% $16,048
    OVM FINANCIAL, INC. 1 4.25% $9,353
    PACIFIC RESIDENTIAL MORTGAGE, LLC 1 6.63% $12,112
    First Internet Bank of Indiana 1 4.50% $10,080
    Paramount Bank 1 4.75% $7,292
    First Federal Bank, A FSB 1 3.88% $10,743
    First Bank 1 6.63% $11,467
    Financial Federal Bank 1 5.13% $6,512
    FBC MORTGAGE, LLC 1 4.50% $10,859
    FAY SERVICING, LLC 1 5.25% $9,441
    FAIRWAY FUNDING GROUP, INC. 1 5.13% $10,332
    PROPER RATE, LLC 1 6.25% $9,378
    Encompass Lending Group, LP 1 6.63% $11,521
    RADIUS FINANCIAL GROUP INC. 1 5.50% $10,624
    REDSTONE Federal Credit Union 1 6.75% $11,218
    DEVELOPER'S MORTGAGE COMPANY 1 6.50% $12,513
    Republic State Mortgage Co. 1 6.25% $9,386
    RESIDENTIAL HOME FUNDING CORP. 1 5.25% $11,088
    Access Bank 1 6.13% $10,476
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.75% $8,888
    Consumer First Mortgage, Inc. 1 5.63% $11,093
    SHELTER MORTGAGE COMPANY, L.L.C. 1 3.25% $8,537
    SIWELL, INC. 1 7.13% $4,468
    SouthPoint Bank 1 6.00% $3,771
    CITYWIDE HOME LOANS, LLC 1 6.00% $13,687
    South State Bank 1 4.75% $5,612
    City Bank 1 5.63% $17,321
    S&S Financial 1 4.99% $13,478
    Sunflower Bank 1 3.99% $10,014
    Capital City Home Loans, LLC 1 4.50% $10,687
    BOKF 1 5.63% $22,688
    BNC National Bank 1 3.25% $12,822
    BLUELEAF LENDING, LLC 1 4.75% $9,798
    BKCO MORTGAGE, LLC 1 3.50% $6,307
    Bethpage Federal Credit Union 1 4.38% $3,081
    THE MORTGAGE LINK, INC. 1 6.49% $10,899
    Union Savings Bank 1 5.63% $13,478
    United Fidelity Funding Corp. 1 5.75% $13,042
    ANGEL OAK HOME LOANS LLC 1 4.13% $8,344
    ABSOLUTE HOME MORTGAGE CORPORATION 1 5.13% $27,071
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 4.63% $11,416
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 5.25% $8,159
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 6.75% $8,784
    V.I.P. MORTGAGE, INC. 1 5.63% $10,176
    Watermark Capital, Inc. 1 3.38% $9,613
    WesBanco Bank, Inc. 1 7.13% $11,701
    Acre Mortgage and Financial Inc 1 5.50% $21,612

    The top Tennessee FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 2,074 FHA loans originated. Their average total fees are $10,185, which is $1,669 higher than the next largest lender, MORTGAGE INVESTORS GROUP, INC..

    The lowest fee Tennessee FHA lenders (with over 10 loans originated) are KELLEY MORTGAGE, LLC ($3,639), Leaders Credit Union ($5,086), EVERETT FINANCIAL, INC. ($5,571), Wells Fargo Bank ($6,562) and VILLAGE CAPITAL MORTGAGE ($6,592).

    The lowest rate Tennessee FHA lenders (with over 10 loans originated) are LOANPAL, LLC (3.83%), ISERVE RESIDENTIAL LENDING, LLC (3.95%), First Guaranty Mortgage Corporation (3.97%), VILLAGE CAPITAL MORTGAGE (3.99%) and NVR Mortgage Finance, Inc. (4.20%).

    Tennessee FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    KNOXVILLE, TN ANDERSON 2022 $420,680 $538,650 $651,050 $809,150
    SHELBYVILLE, TN BEDFORD 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BENTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BLEDSOE 2022 $420,680 $538,650 $651,050 $809,150
    KNOXVILLE, TN BLOUNT 2022 $420,680 $538,650 $651,050 $809,150
    CLEVELAND, TN BRADLEY 2022 $420,680 $538,650 $651,050 $809,150
    KNOXVILLE, TN CAMPBELL 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN CANNON 2022 $694,600 $889,200 $1,074,850 $1,335,800
    NON-METRO CARROLL 2022 $420,680 $538,650 $651,050 $809,150
    JOHNSON CITY, TN CARTER 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN CHEATHAM 2022 $694,600 $889,200 $1,074,850 $1,335,800
    JACKSON, TN CHESTER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CLAIBORNE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CLAY 2022 $420,680 $538,650 $651,050 $809,150
    NEWPORT, TN COCKE 2022 $420,680 $538,650 $651,050 $809,150
    TULLAHOMA-MANCHESTER, TN COFFEE 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, TN CROCKETT 2022 $420,680 $538,650 $651,050 $809,150
    CROSSVILLE, TN CUMBERLAND 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN DAVIDSON 2022 $694,600 $889,200 $1,074,850 $1,335,800
    NON-METRO DECATUR 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO DEKALB 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN DICKSON 2022 $694,600 $889,200 $1,074,850 $1,335,800
    DYERSBURG, TN DYER 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR FAYETTE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO FENTRESS 2022 $420,680 $538,650 $651,050 $809,150
    TULLAHOMA-MANCHESTER, TN FRANKLIN 2022 $420,680 $538,650 $651,050 $809,150
    JACKSON, TN GIBSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GILES 2022 $420,680 $538,650 $651,050 $809,150
    MORRISTOWN, TN GRAINGER 2022 $420,680 $538,650 $651,050 $809,150
    GREENEVILLE, TN GREENE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GRUNDY 2022 $420,680 $538,650 $651,050 $809,150
    MORRISTOWN, TN HAMBLEN 2022 $420,680 $538,650 $651,050 $809,150
    CHATTANOOGA, TN-GA HAMILTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HANCOCK 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HARDEMAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HARDIN 2022 $420,680 $538,650 $651,050 $809,150
    KINGSPORT-BRISTOL, TN-VA HAWKINS 2022 $420,680 $538,650 $651,050 $809,150
    BROWNSVILLE, TN HAYWOOD 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HENDERSON 2022 $420,680 $538,650 $651,050 $809,150
    PARIS, TN HENRY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HICKMAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HOUSTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HUMPHREYS 2022 $420,680 $538,650 $651,050 $809,150
    COOKEVILLE, TN JACKSON 2022 $420,680 $538,650 $651,050 $809,150
    MORRISTOWN, TN JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO JOHNSON 2022 $420,680 $538,650 $651,050 $809,150
    KNOXVILLE, TN KNOX 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LAKE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LAUDERDALE 2022 $420,680 $538,650 $651,050 $809,150
    LAWRENCEBURG, TN LAWRENCE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LEWIS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
    KNOXVILLE, TN LOUDON 2022 $420,680 $538,650 $651,050 $809,150
    ATHENS, TN MCMINN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MCNAIRY 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN MACON 2022 $694,600 $889,200 $1,074,850 $1,335,800
    JACKSON, TN MADISON 2022 $420,680 $538,650 $651,050 $809,150
    CHATTANOOGA, TN-GA MARION 2022 $420,680 $538,650 $651,050 $809,150
    LEWISBURG, TN MARSHALL 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN MAURY 2022 $694,600 $889,200 $1,074,850 $1,335,800
    NON-METRO MEIGS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MONROE 2022 $420,680 $538,650 $651,050 $809,150
    CLARKSVILLE, TN-KY MONTGOMERY 2022 $420,680 $538,650 $651,050 $809,150
    TULLAHOMA-MANCHESTER, TN MOORE 2022 $420,680 $538,650 $651,050 $809,150
    KNOXVILLE, TN MORGAN 2022 $420,680 $538,650 $651,050 $809,150
    UNION CITY, TN OBION 2022 $420,680 $538,650 $651,050 $809,150
    COOKEVILLE, TN OVERTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PERRY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PICKETT 2022 $420,680 $538,650 $651,050 $809,150
    CLEVELAND, TN POLK 2022 $420,680 $538,650 $651,050 $809,150
    COOKEVILLE, TN PUTNAM 2022 $420,680 $538,650 $651,050 $809,150
    DAYTON, TN RHEA 2022 $420,680 $538,650 $651,050 $809,150
    KNOXVILLE, TN ROANE 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN ROBERTSON 2022 $694,600 $889,200 $1,074,850 $1,335,800
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN RUTHERFORD 2022 $694,600 $889,200 $1,074,850 $1,335,800
    NON-METRO SCOTT 2022 $420,680 $538,650 $651,050 $809,150
    CHATTANOOGA, TN-GA SEQUATCHIE 2022 $420,680 $538,650 $651,050 $809,150
    SEVIERVILLE, TN SEVIER 2022 $420,680 $538,650 $651,050 $809,150
    MEMPHIS, TN-MS-AR SHELBY 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN SMITH 2022 $694,600 $889,200 $1,074,850 $1,335,800
    CLARKSVILLE, TN-KY STEWART 2022 $420,680 $538,650 $651,050 $809,150
    KINGSPORT-BRISTOL, TN-VA SULLIVAN 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN SUMNER 2022 $694,600 $889,200 $1,074,850 $1,335,800
    MEMPHIS, TN-MS-AR TIPTON 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN TROUSDALE 2022 $694,600 $889,200 $1,074,850 $1,335,800
    JOHNSON CITY, TN UNICOI 2022 $420,680 $538,650 $651,050 $809,150
    KNOXVILLE, TN UNION 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO VAN BUREN 2022 $420,680 $538,650 $651,050 $809,150
    MCMINNVILLE, TN WARREN 2022 $420,680 $538,650 $651,050 $809,150
    JOHNSON CITY, TN WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WAYNE 2022 $420,680 $538,650 $651,050 $809,150
    MARTIN, TN WEAKLEY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WHITE 2022 $420,680 $538,650 $651,050 $809,150
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN WILLIAMSON 2022 $694,600 $889,200 $1,074,850 $1,335,800
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN WILSON 2022 $694,600 $889,200 $1,074,850 $1,335,800
    KNOXVILLE, TN ANDERSON 2023 $472,030 $604,400 $730,525 $907,900
    SHELBYVILLE, TN BEDFORD 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BENTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BLEDSOE 2023 $472,030 $604,400 $730,525 $907,900
    KNOXVILLE, TN BLOUNT 2023 $472,030 $604,400 $730,525 $907,900
    CLEVELAND, TN BRADLEY 2023 $472,030 $604,400 $730,525 $907,900
    KNOXVILLE, TN CAMPBELL 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN CANNON 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    NON-METRO CARROLL 2023 $472,030 $604,400 $730,525 $907,900
    JOHNSON CITY, TN CARTER 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN CHEATHAM 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    JACKSON, TN CHESTER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CLAIBORNE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CLAY 2023 $472,030 $604,400 $730,525 $907,900
    NEWPORT, TN COCKE 2023 $472,030 $604,400 $730,525 $907,900
    TULLAHOMA-MANCHESTER, TN COFFEE 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, TN CROCKETT 2023 $472,030 $604,400 $730,525 $907,900
    CROSSVILLE, TN CUMBERLAND 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN DAVIDSON 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    NON-METRO DECATUR 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO DEKALB 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN DICKSON 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    DYERSBURG, TN DYER 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR FAYETTE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO FENTRESS 2023 $472,030 $604,400 $730,525 $907,900
    TULLAHOMA-MANCHESTER, TN FRANKLIN 2023 $472,030 $604,400 $730,525 $907,900
    JACKSON, TN GIBSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GILES 2023 $472,030 $604,400 $730,525 $907,900
    MORRISTOWN, TN GRAINGER 2023 $472,030 $604,400 $730,525 $907,900
    GREENEVILLE, TN GREENE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GRUNDY 2023 $472,030 $604,400 $730,525 $907,900
    MORRISTOWN, TN HAMBLEN 2023 $472,030 $604,400 $730,525 $907,900
    CHATTANOOGA, TN-GA HAMILTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HANCOCK 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HARDEMAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HARDIN 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA HAWKINS 2023 $472,030 $604,400 $730,525 $907,900
    BROWNSVILLE, TN HAYWOOD 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HENDERSON 2023 $472,030 $604,400 $730,525 $907,900
    PARIS, TN HENRY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HICKMAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HOUSTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HUMPHREYS 2023 $472,030 $604,400 $730,525 $907,900
    COOKEVILLE, TN JACKSON 2023 $472,030 $604,400 $730,525 $907,900
    MORRISTOWN, TN JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO JOHNSON 2023 $472,030 $604,400 $730,525 $907,900
    KNOXVILLE, TN KNOX 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LAKE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LAUDERDALE 2023 $472,030 $604,400 $730,525 $907,900
    LAWRENCEBURG, TN LAWRENCE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LEWIS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
    KNOXVILLE, TN LOUDON 2023 $472,030 $604,400 $730,525 $907,900
    ATHENS, TN MCMINN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MCNAIRY 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN MACON 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    JACKSON, TN MADISON 2023 $472,030 $604,400 $730,525 $907,900
    CHATTANOOGA, TN-GA MARION 2023 $472,030 $604,400 $730,525 $907,900
    LEWISBURG, TN MARSHALL 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN MAURY 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    NON-METRO MEIGS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MONROE 2023 $472,030 $604,400 $730,525 $907,900
    CLARKSVILLE, TN-KY MONTGOMERY 2023 $472,030 $604,400 $730,525 $907,900
    TULLAHOMA-MANCHESTER, TN MOORE 2023 $472,030 $604,400 $730,525 $907,900
    KNOXVILLE, TN MORGAN 2023 $472,030 $604,400 $730,525 $907,900
    UNION CITY, TN OBION 2023 $472,030 $604,400 $730,525 $907,900
    COOKEVILLE, TN OVERTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PERRY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PICKETT 2023 $472,030 $604,400 $730,525 $907,900
    CLEVELAND, TN POLK 2023 $472,030 $604,400 $730,525 $907,900
    COOKEVILLE, TN PUTNAM 2023 $472,030 $604,400 $730,525 $907,900
    DAYTON, TN RHEA 2023 $472,030 $604,400 $730,525 $907,900
    KNOXVILLE, TN ROANE 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN ROBERTSON 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN RUTHERFORD 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    NON-METRO SCOTT 2023 $472,030 $604,400 $730,525 $907,900
    CHATTANOOGA, TN-GA SEQUATCHIE 2023 $472,030 $604,400 $730,525 $907,900
    SEVIERVILLE, TN SEVIER 2023 $472,030 $604,400 $730,525 $907,900
    MEMPHIS, TN-MS-AR SHELBY 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN SMITH 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    CLARKSVILLE, TN-KY STEWART 2023 $472,030 $604,400 $730,525 $907,900
    KINGSPORT-BRISTOL, TN-VA SULLIVAN 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN SUMNER 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    MEMPHIS, TN-MS-AR TIPTON 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN TROUSDALE 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    JOHNSON CITY, TN UNICOI 2023 $472,030 $604,400 $730,525 $907,900
    KNOXVILLE, TN UNION 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO VAN BUREN 2023 $472,030 $604,400 $730,525 $907,900
    MCMINNVILLE, TN WARREN 2023 $472,030 $604,400 $730,525 $907,900
    JOHNSON CITY, TN WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WAYNE 2023 $472,030 $604,400 $730,525 $907,900
    MARTIN, TN WEAKLEY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WHITE 2023 $472,030 $604,400 $730,525 $907,900
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN WILLIAMSON 2023 $890,100 $1,139,500 $1,377,400 $1,711,750
    NASHVILLE-DAVIDSON--MURFREESBORO--FRANKLIN, TN WILSON 2023 $890,100 $1,139,500 $1,377,400 $1,711,750

    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).