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 6.26% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.13% and one month ago for the week of 2024-11-08, the average rate was 6.09%.

    The average rate one year ago was 6.9%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.24%.

    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).