Tennessee FHA Loan Rates, Closing Costs & Stats

Tennessee

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).