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 6.8% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Tennessee's average FHA mortgage closing costs are $8,176.

The average rate for the prior week (2024-06-07) was 6.58% and one month ago for the week of 2024-05-10, the average rate was 6.67%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.67%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 2,150 6.20% $11,354
UNITED WHOLESALE MORTGAGE, LLC 1,421 6.24% $13,778
MORTGAGE INVESTORS GROUP, INC. 1,152 6.41% $9,913
FIRST COMMUNITY MORTGAGE, INC. 847 6.36% $11,312
CMG MORTGAGE, INC. 661 6.54% $14,396
DHI MORTGAGE COMPANY, LTD. 473 5.78% $8,203
CARDINAL FINANCIAL 458 6.50% $12,333
LOANDEPOT.COM, LLC 446 6.26% $13,288
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 424 6.46% $11,988
CROSSCOUNTRY MORTGAGE, LLC 367 6.70% $12,434
FirstBank 350 6.34% $11,919
MOVEMENT MORTGAGE, LLC 349 6.52% $11,889
NVR Mortgage Finance, Inc. 348 5.65% $10,865
FREEDOM MORTGAGE CORPORATION 333 6.87% $13,412
PENNYMAC LOAN SERVICES, LLC 301 6.05% $13,586
Regions Bank 270 6.21% $8,849
BROKER SOLUTIONS, INC. 269 6.69% $11,815
COMMUNITY MORTGAGE CORPORATION 243 6.35% $10,117
SeaTrust Mortgage Company 230 6.39% $12,701
Mr. Cooper ( Nationstar Mortgage ) 217 6.06% $15,450
GUARANTEED RATE, INC. 210 6.40% $12,038
STOCKTON MORTGAGE CORPORATION 207 6.57% $11,644
NEWREZ LLC 182 6.38% $10,953
SWBC MORTGAGE CORPORATION 179 6.49% $8,954
AMERISAVE MORTGAGE CORPORATION 172 6.10% $14,690
Carrington Mortgage Services, LLC 158 6.30% $12,554
AMERICAN PACIFIC MORTGAGE CORPORATION 149 6.59% $13,067
CHURCHILL MORTGAGE CORPORATION 148 6.28% $12,484
EVERETT FINANCIAL, INC. 147 6.73% $9,347
Equity Prime Mortgage LLC 140 6.73% $11,765
UNION HOME MORTGAGE CORP. 135 6.70% $11,485
MUTUAL OF OMAHA MORTGAGE, INC. 135 6.53% $14,639
ISERVE RESIDENTIAL LENDING, LLC 125 6.63% $16,153
Leaders Credit Union 125 6.60% $5,669
Legacy Home Loans, LLC 114 6.41% $12,792
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 114 6.43% $12,096
Mortgage Research Center, LLC 110 6.51% $7,009
Pinnacle Bank 105 6.16% $10,824
RELIANCE FIRST CAPITAL, LLC 102 6.54% $13,408
ACOPIA, LLC 99 6.55% $13,871
Patriot Bank 99 6.21% $8,974
Flagstar Bank, FSB 95 6.45% $11,642
Ameris Bank 94 6.28% $11,530
VANDERBILT MORTGAGE AND FINANCE, INC. 93 6.38% $15,862
Renasant Bank 92 6.46% $9,556
BancorpSouth 92 6.29% $8,662
F&M Bank 91 6.09% $11,100
ARK-LA-TEX FINANCIAL SERVICES, LLC. 91 6.70% $10,329
Paramount Residential Mortgage Group, Inc. 89 6.54% $13,002
LAKEVIEW LOAN SERVICING, LLC 84 6.08% $12,511
AMCAP MORTGAGE, LTD. 83 6.61% $11,599
EAGLE HOME MORTGAGE, LLC 83 5.26% $15,660
LEADERONE FINANCIAL CORPORATION 80 6.39% $10,937
Simmons Bank 78 6.29% $8,159
INTERLINC MORTGAGE SERVICES, LLC 77 6.58% $8,678
U.S. Bank 77 6.31% $9,638
AMERICAN FINANCIAL NETWORK, INC. 77 6.95% $12,264
The First National Bank of Middle Tennessee 76 6.45% $12,303
AMERICAN FINANCIAL RESOURCES, INC. 76 6.44% $11,335
HOMESIDE FINANCIAL, LLC 75 6.66% $11,640
BARTLETT MORTGAGE, INC. 74 6.32% $10,228
Bank of England 72 6.38% $10,569
Nations Lending Corporation 71 6.69% $11,606
NFM, INC. 68 6.72% $10,505
TJC Mortgage, Inc. 67 6.45% $11,441
MILEND, INC. 66 6.64% $14,718
Sierra Pacific Mortgage Company, Inc. 66 6.57% $12,487
The Federal Savings Bank 64 6.32% $17,142
FirstTrust Home Loans, Inc. 64 6.51% $12,299
Citizens Bank 59 6.26% $12,158
INSPIRE HOME LOANS INC. 58 5.57% $12,668
Century Mortgage Company DBA Century Lending Company 57 6.37% $12,289
SUCCESS MORTGAGE PARTNERS, INC. 56 6.23% $11,775
SUMMIT FUNDING, INC. 55 6.66% $12,203
Bank of Tennessee 54 6.40% $10,523
ALAMEDA MORTGAGE CORPORATION 54 6.86% $11,496
PLANET HOME LENDING, LLC 54 5.81% $9,923
MID AMERICA MORTGAGE, INC. 53 7.25% $8,255
Evolve Bank & Trust 53 6.57% $10,564
Trustmark National Bank 52 6.42% $8,653
SUN WEST MORTGAGE COMPANY, INC. 51 6.35% $12,667
United Community Bank 51 6.36% $10,092
VAN DYK MORTGAGE CORPORATION 50 6.80% $8,172
PRIMARY RESIDENTIAL MORTGAGE, INC. 48 6.61% $10,570
CapStar Bank 48 6.49% $11,839
GVC MORTGAGE, INC. 47 6.56% $11,330
THE MORTGAGE FIRM, INC. 46 5.86% $12,868
First Vision Bank of Tennessee 45 6.43% $10,989
GUARANTY HOME MORTGAGE CORPORATION 45 6.26% $12,228
PULTE MORTGAGE LLC 43 5.90% $9,055
VILLAGE CAPITAL MORTGAGE 43 6.20% $10,837
CANOPY MORTGAGE, LLC 42 6.50% $18,190
EUSTIS AND AMERICAN MORTGAGE COMPANY 42 6.73% $13,285
TOP FLITE FINANCIAL, INC. 42 6.89% $15,971
Plains Commerce Bank 42 6.55% $10,987
Truist 40 6.32% $9,199
Gateway First Bank 39 7.00% $8,798
Wolfe Financial, Inc 39 6.71% $12,946
ROSS MORTGAGE CORPORATION 38 6.64% $11,690
FIRST COLONY MORTGAGE CORPORATION 37 6.72% $12,113
AMERICAN FINANCING CORPORATION 36 6.19% $11,971
THRIVE MORTGAGE, LLC 36 6.60% $13,508
AmeriHome Mortgage Company, LLC 34 6.13% $10,562
TOWNE MORTGAGE COMPANY 32 6.50% $10,988
PRIMELENDING, A PLAINSCAPITAL COMPANY 32 6.82% $11,686
HOMEBRIDGE FINANCIAL SERVICES, INC. 31 5.95% $12,163
First Citizens National Bank 31 6.45% $7,902
First Horizon Bank 30 6.62% $9,328
ZILLOW HOME LOANS, LLC 29 6.47% $11,782
LAND HOME FINANCIAL SERVICES, INC. 28 6.43% $10,582
PENTAGON FEDERAL CREDIT UNION 28 5.69% $11,330
GUILD MORTGAGE COMPANY 27 6.23% $10,122
LOANPAL, LLC 27 5.98% $11,727
SmartBank 26 6.38% $8,449
Northpointe Bank 25 5.96% $11,110
Prosperity Home Mortgage, LLC 25 6.34% $12,218
T2 FINANCIAL LLC 24 6.65% $12,452
Wilson Bank And Trust 24 6.32% $7,788
PLAZA HOME MORTGAGE, INC. 24 6.42% $14,039
CASTLE & COOKE MORTGAGE, LLC 23 6.45% $13,560
DAS Acquisition Company, LLC 22 6.61% $11,563
COMPASS MORTGAGE, INC. 22 6.48% $11,927
ENDEAVOR CAPITAL, LLC. 22 6.83% $12,007
Fifth Third Bank 21 6.56% $10,509
Franklin Loan Corporation 21 6.20% $17,367
EMBRACE HOME LOANS, INC. 20 6.37% $11,401
Bell Bank 19 6.11% $14,093
KELLEY MORTGAGE, LLC 19 6.14% $6,128
Magnolia Bank 19 6.43% $10,108
LADERA LENDING, INC. 18 6.30% $15,122
Waterstone Mortgage Corporation 18 6.47% $12,563
Wells Fargo Bank 18 6.39% $9,226
JPMorgan Chase Bank 18 6.45% $7,943
Independent Bank 17 6.47% $10,203
SECURITYNATIONAL MORTGAGE COMPANY 17 6.53% $10,961
GENEVA FINANCIAL, LLC 16 6.65% $14,214
MORTGAGE SOLUTIONS OF COLORADO, LLC 16 6.90% $12,132
EVANSVILLE TEACHERS 16 6.51% $11,807
DELMAR FINANCIAL COMPANY 16 6.94% $9,759
NBKC BANK 16 5.95% $9,056
PANORAMA MORTGAGE GROUP, LLC 16 6.91% $11,584
ACADEMY MORTGAGE CORPORATION 15 6.97% $13,014
VERITAS FUNDING, LLC 15 6.29% $16,306
M&T Bank 15 6.54% $9,344
BAY EQUITY LLC 15 6.23% $10,944
Hometown Equity Mortgage, LLC 15 6.38% $11,427
ROYAL UNITED MORTGAGE LLC 15 6.96% $10,191
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 15 6.23% $11,617
CALCON MUTUAL MORTGAGE LLC 14 7.24% $13,832
OCMBC, INC. 14 6.96% $14,160
FIRST CONTINENTAL MORTGAGE, LTD. 14 6.50% $12,125
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 14 6.29% $15,127
Legends Bank 14 6.54% $11,287
EMM LOANS LLC 14 6.13% $13,877
Barrington Bank & Trust Company, N.A. 14 6.14% $11,411
American Mortgage & Equity Consultants, Inc. 13 7.13% $15,153
HOMEAMERICAN MORTGAGE CORPORATION 13 5.15% $10,470
UNITED NORTHERN MORTGAGE BANKERS LIMITED 12 6.29% $15,792
First Federal Bank 12 6.11% $9,650
NexBank 11 6.26% $11,459
FLAT BRANCH MORTGAGE, INC. 11 6.49% $10,952
AmRes Corporation 11 6.65% $11,997
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 11 6.24% $10,866
Shamrock Home Loans, Inc. 11 6.45% $11,481
MEMBER FIRST MORTGAGE, LLC 11 6.14% $9,676
Orion Federal Credit Union 11 6.13% $8,722
MANN FINANCIAL INC. 10 7.10% $10,677
SOUTHPOINT FINANCIAL SERVICES, INC. 10 6.89% $11,285
First Federal Bank 10 6.00% $12,271
PHH Mortgage Corporation 10 6.79% $11,149
RUOFF MORTGAGE COMPANY, INC. 9 5.93% $8,876
RANLIFE, INC. 9 6.35% $14,030
1ST SIGNATURE LENDING, LLC 9 6.96% $16,694
GARDNER FINANCIAL SERVICES, LTD. 9 7.15% $14,675
Eagle Bank and Trust Company 9 6.47% $9,472
Cornerstone First Mortgage, Inc 9 6.90% $12,458
SOUTHWEST STAGE FUNDING, LLC 8 6.78% $12,713
Synovus Bank 8 6.13% $9,452
LIBERTY HOME MORTGAGE CORPORATION 8 6.77% $16,699
CRESCENT MORTGAGE COMPANY 8 6.83% $9,433
SOVEREIGN LENDING GROUP INCORPORATED 8 5.97% $15,082
MICHIGAN MUTUAL, INC. 8 6.58% $10,931
Bank of America 8 6.63% $8,951
CORNERSTONE HOME LENDING, INC. 8 6.56% $13,264
Princeton Mortgage Corporation 8 6.78% $11,179
GUARANTY MORTGAGE SERVICES, L.L.C. 8 6.84% $13,105
MORTGAGE FINANCIAL SERVICES, LLC 7 6.86% $11,871
BECKAM FUNDING CORP. 7 6.94% $18,457
POLARIS HOME FUNDING CORP. 7 6.66% $12,345
NORTHERN MORTGAGE SERVICES, LLC 7 6.73% $7,062
TruHome Solutions, LLC 7 6.23% $9,561
MIDLAND MORTGAGE CORPORATION 7 6.79% $9,200
FIRST ALLIANCE HOME MORTGAGE, LLC 6 6.52% $14,980
AMERICAN PORTFOLIO MORTGAGE CORPORATION 6 6.17% $15,147
JMAC LENDING, INC. 6 6.65% $14,889
Arvest Bank 6 5.90% $11,176
Residential Mortgage Solutions, Inc. 6 6.60% $12,802
TENNESSEE TRUST MORTGAGE, INC 6 6.67% $8,286
The Loan Store, Inc. 6 6.91% $11,288
FIRST INTEGRITY MORTGAGE SERVICES, INC. 5 7.65% $7,463
BAYSHORE MORTGAGE FUNDING, LLC 5 6.00% $15,186
Alcova Mortgage LLC 5 7.05% $11,248
NATIONS RELIABLE LENDING, LLC 5 6.95% $14,147
NATIONS DIRECT MORTGAGE, LLC 5 6.50% $14,891
COMMUNITY MORTGAGE, LLC 5 5.95% $14,257
Ixonia Bank 5 6.98% $18,216
JLB CORPORATION 5 6.30% $10,630
Countybank 5 6.88% $8,716
SIRVA MORTGAGE, INC. 4 6.47% $7,843
GERSHMAN INVESTMENT CORP. 4 6.91% $12,670
GMFS LLC 4 7.34% $10,494
GSF Mortgage Corporation 4 5.97% $14,355
HOMESTAR FINANCIAL CORPORATION 4 7.09% $8,408
Loan Simple, Inc. 4 6.19% $12,281
CITY FIRST MORTGAGE SERVICES, L.L.C. 4 7.31% $11,298
C & F Mortgage Corporation 4 6.72% $7,838
NATIONWIDE MORTGAGE BANKERS, INC. 4 6.31% $12,394
NETWORK CAPITAL FUNDING CORPORATION 4 6.00% $11,268
NP, Inc. 4 7.09% $17,202
BETTER MORTGAGE CORPORATION 4 6.13% $13,208
BEST FINANCE CAPITAL, INC. 4 7.63% $11,919
PREMIA MORTGAGE, LLC 4 6.22% $9,640
REDSTONE Federal Credit Union 4 5.97% $9,674
ASCEND FEDERAL CREDIT UNION 4 6.13% $7,308
The Central Trust Bank 4 5.81% $16,161
ALLIED MORTGAGE GROUP, INC. 4 6.69% $9,286
Strong Home Mortgage, LLC 3 6.17% $8,895
MLD MORTGAGE INC. 3 6.08% $9,773
Semper Home Loans, Inc. 3 7.50% $14,085
S1L, Inc. 3 6.58% $12,929
RESIDENTIAL WHOLESALE MORTGAGE, INC. 3 6.04% $14,564
BAY-VALLEY MORTGAGE GROUP 3 5.92% $15,944
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 3 6.13% $19,720
Commerce Home Mortgage, Inc. 3 7.08% $9,303
PNC Bank 3 6.00% $13,784
NORWICH COMMERCIAL GROUP, INC. 3 7.00% $14,816
DRAPER AND KRAMER MORTGAGE CORP. 3 6.46% $10,856
The Huntington National Bank 3 7.08% $10,781
OCEANSIDE MORTGAGE COMPANY 3 6.46% $8,170
CB&S Bank, Inc. 3 6.25% $7,506
ON Q FINANCIAL, INC. 3 7.25% $13,902
US MORTGAGE CORPORATION 3 6.29% $14,514
UNITED SECURITY FINANCIAL CORP 3 7.17% $17,733
The Farmers Bank 3 6.13% $11,168
Towne Bank 3 6.79% $11,298
ABSOLUTE HOME MORTGAGE CORPORATION 3 7.50% $11,313
Encompass Lending Group, LP 2 6.69% $8,093
Capital City Home Loans, LLC 2 6.50% $22,669
NJ LENDERS CORP. 2 6.44% $14,874
CIS Financial Services, Inc. 2 5.50% $12,257
ONY GLO, INC. 2 6.69% $18,347
OPEN MORTGAGE, LLC 2 5.56% $11,306
Pacific Lending LLC 2 6.56% $13,404
Midwest BankCentre 2 6.94% $7,980
First-Citizens Bank & Trust Company 2 6.50% $10,226
LEGEND LENDING CORPORATION 2 6.06% $22,549
CityWorth Mortgage LLC 2 5.94% $7,606
PREMIER MORTGAGE RESOURCES, L.L.C. 2 6.88% $13,591
Kwik Mortgage Corporation 2 6.38% $18,966
KeyBank 2 6.31% $12,529
INTERNATIONAL CITY MORTGAGE, INC. 2 6.63% $10,977
RESIDENTIAL BANCORP 2 8.25% $10,410
Consumer First Mortgage, Inc. 2 6.25% $15,396
Axos Bank 2 5.63% $10,225
HOMESTEAD FUNDING CORP. 2 5.94% $7,963
Atlantic Union Bank 2 6.63% $7,623
FBC MORTGAGE, LLC 2 5.87% $10,357
SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 6.25% $12,984
HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.75% $13,064
GoPrime Mortgage, Inc. 2 6.25% $11,639
Sunflower Bank 2 6.87% $6,820
George Mason Mortgage, LLC 2 6.81% $11,925
Florida Capital Bank 2 6.38% $22,548
American Security Mortgage Corp. 2 6.50% $9,926
Total Media Management, LLC 2 6.44% $15,974
TOTAL MORTGAGE SERVICES, LLC 2 6.69% $8,331
American Mortgage Bank, LLC 2 7.13% $9,775
ALTRA 2 6.25% $12,203
United Fidelity Funding Corp. 2 7.94% $18,251
First Federal Bank, A FSB 2 6.19% $11,229
AHL FUNDING 2 7.06% $12,727
FIRST EQUITY MORTGAGE INCORPORATED 2 6.56% $20,664
INFINITY EQUITY GROUP, INC. 1 7.25% $14,327
Blue Ridge Bank 1 6.50% $8,500
Sandy Spring Bank 1 6.25% $25,261
AXIA FINANCIAL, LLC 1 6.75% $16,296
Independent Bank 1 4.88% $25,823
BNC National Bank 1 5.00% $11,819
Victorian Finance, LLC 1 6.25% $15,512
CIBM Bank 1 7.13% $9,295
Atlantic Coast Mortgage, LLC 1 5.75% $9,434
MORIA DEVELOPMENT, INC. 1 7.13% $6,495
HOMESPIRE MORTGAGE CORPORATION 1 6.00% $14,166
Valley National Bank 1 5.75% $9,606
Affiliated Bank 1 5.13% $16,043
South State Bank 1 6.99% $12,865
CUSTOMER SERVICE MORTGAGE CORPORATION 1 7.00% $6,180
GUARANTEED RATE AFFINITY, LLC 1 7.75% $8,437
A&D Mortgage LLC 1 5.63% $12,687
Paramount Bank 1 6.38% $8,338
Assurance Financial Group, L.L.C. 1 6.75% $10,867
Financial Funding Solutions, Inc. 1 5.63% $7,077
Vellum Mortgage, Inc. 1 7.63% $8,724
Goldwater Bank, N.A. 1 7.75% $9,246
Armed Forces Bank 1 5.75% $9,357
NEW DAY FINANCIAL, LLC 1 7.50% $3,711
DATA MORTGAGE, INC. 1 6.38% $13,933
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.25% $21,494
Midwest Mortgage Associates Corporation 1 7.25% $10,159
THE EQUITABLE MORTGAGE CORPORATION 1 5.63% $5,573
M/I FINANCIAL, LLC 1 5.50% $25,897
Centennial Bank 1 7.50% $8,389
CHERRY CREEK MORTGAGE, LLC 1 6.25% $5,157
CALIBER HOME LOANS, INC. 1 7.25% $10,618
V.I.P. MORTGAGE, INC. 1 6.00% $13,575
First State Bank of St. Charles, Missouri 1 6.63% $13,474
THE MORTGAGE LINK, INC. 1 7.38% $14,670
The Union Bank Company 1 5.50% $10,312
First Savings Bank 1 6.75% $20,807
MJW Financial LLC 1 6.63% $7,443
AMERICAN MORTGAGE SERVICES INCORPORATED 1 6.25% $2,025
MORTGAGE ACCESS CORP. 1 6.75% $19,219
NASA Federal Credit Union 1 6.13% $10,992
North American Savings Bank, F.S.B. 1 6.75% $9,301
First Option Mortgage, LLC 1 7.63% $12,711
CITYWIDE HOME LOANS, LLC 1 6.75% $7,669
First National Bank of Pennsylvania 1 5.75% $9,461
PLUS RELOCATION MORTGAGE, LLC 1 7.13% $12,858
FAIRWAY FUNDING GROUP, INC. 1 7.25% $9,689
MORTGAGEONE, INC. 1 5.99% $20,017
WesBanco 1 5.75% $10,606
CBM Mortgage, Inc. 1 6.63% $10,335
Preston Home Loans Inc 1 7.25% $17,365
PINNACLE LENDING GROUP, INC. 1 5.38% $17,225
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 7.13% $8,460
Community Bank of Mississippi 1 7.25% $8,166
FCB Banks 1 7.63% $6,972
KINECTA 1 5.75% $15,990
Allied First Bank,sb 1 6.75% $9,110
RADIUS FINANCIAL GROUP INC. 1 7.25% $12,269
KELLER MORTGAGE, LLC 1 6.13% $9,551
Willamette Valley Bank 1 6.63% $9,589
JMJ FINANCIAL GROUP 1 5.75% $21,053
BANK OF LITTLE ROCK MORTGAGE CORPORATION 1 6.13% $8,341
MORTGAGE MANAGEMENT CONSULTANTS, INC. 1 6.50% $9,042
Republic Bank & Trust Company 1 5.75% $8,996
Republic State Mortgage Co. 1 7.13% $10,712
UNITED HOME LOANS, INC. 1 7.13% $7,332
First Financial Bank 1 7.13% $15,744
Mid-Continent Funding, Inc. 1 5.75% $13,458
NMSI, INC. 1 6.63% $10,382
CONTOUR MORTGAGE CORPORATION 1 6.25% $10,779

The top Tennessee FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 2,150 FHA loans originated. Their average total fees are $11,354, which is $2,424 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Tennessee FHA lenders (with over 10 loans originated) are Leaders Credit Union ($5,669), KELLEY MORTGAGE, LLC ($6,128), Mortgage Research Center, LLC ($7,009), Wilson Bank And Trust ($7,788) and First Citizens National Bank ($7,902).

The lowest rate Tennessee FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION (5.15%), EAGLE HOME MORTGAGE, LLC (5.26%), INSPIRE HOME LOANS INC. (5.57%), NVR Mortgage Finance, Inc. (5.65%) and PENTAGON FEDERAL CREDIT UNION (5.69%).

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).