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Tennessee FHA Home Loans

FHA Mortgage Loan Programs in Tennessee
FHA Loan Requirements - 2022 FHA Loan Limits

Tennessee FHA Loan | Requirements | 2022 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in Tennessee.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

Tennessee FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in Tennessee.  If you would like to find out if you are eligible for an FHA loan, we can help match you with a lender.  To have an FHA lender contact you, request a free consultation.

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2022 FHA loan limits for all counties in Tennessee below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in Tennessee.  To have an FHA lender contact you, request a free consultation.

2022 Tennessee FHA Loan Limits

Below are the 2022 FHA loan limits for every county in Tennessee:

County Single Family 2 Family 3 Family 4 Family
ANDERSON $420,680 $538,650 $651,050 $809,150
BEDFORD $420,680 $538,650 $651,050 $809,150
BENTON $420,680 $538,650 $651,050 $809,150
BLEDSOE $420,680 $538,650 $651,050 $809,150
BLOUNT $420,680 $538,650 $651,050 $809,150
BRADLEY $420,680 $538,650 $651,050 $809,150
CAMPBELL $420,680 $538,650 $651,050 $809,150
CANNON $694,600 $889,200 $1,074,850 $1,335,800
CARROLL $420,680 $538,650 $651,050 $809,150
CARTER $420,680 $538,650 $651,050 $809,150
CHEATHAM $694,600 $889,200 $1,074,850 $1,335,800
CHESTER $420,680 $538,650 $651,050 $809,150
CLAIBORNE $420,680 $538,650 $651,050 $809,150
CLAY $420,680 $538,650 $651,050 $809,150
COCKE $420,680 $538,650 $651,050 $809,150
COFFEE $420,680 $538,650 $651,050 $809,150
CROCKETT $420,680 $538,650 $651,050 $809,150
CUMBERLAND $420,680 $538,650 $651,050 $809,150
DAVIDSON $694,600 $889,200 $1,074,850 $1,335,800
DECATUR $420,680 $538,650 $651,050 $809,150
DEKALB $420,680 $538,650 $651,050 $809,150
DICKSON $694,600 $889,200 $1,074,850 $1,335,800
DYER $420,680 $538,650 $651,050 $809,150
FAYETTE $420,680 $538,650 $651,050 $809,150
FENTRESS $420,680 $538,650 $651,050 $809,150
FRANKLIN $420,680 $538,650 $651,050 $809,150
GIBSON $420,680 $538,650 $651,050 $809,150
GILES $420,680 $538,650 $651,050 $809,150
GRAINGER $420,680 $538,650 $651,050 $809,150
GREENE $420,680 $538,650 $651,050 $809,150
GRUNDY $420,680 $538,650 $651,050 $809,150
HAMBLEN $420,680 $538,650 $651,050 $809,150
HAMILTON $420,680 $538,650 $651,050 $809,150
HANCOCK $420,680 $538,650 $651,050 $809,150
HARDEMAN $420,680 $538,650 $651,050 $809,150
HARDIN $420,680 $538,650 $651,050 $809,150
HAWKINS $420,680 $538,650 $651,050 $809,150
HAYWOOD $420,680 $538,650 $651,050 $809,150
HENDERSON $420,680 $538,650 $651,050 $809,150
HENRY $420,680 $538,650 $651,050 $809,150
HICKMAN $420,680 $538,650 $651,050 $809,150
HOUSTON $420,680 $538,650 $651,050 $809,150
HUMPHREYS $420,680 $538,650 $651,050 $809,150
JACKSON $420,680 $538,650 $651,050 $809,150
JEFFERSON $420,680 $538,650 $651,050 $809,150
JOHNSON $420,680 $538,650 $651,050 $809,150
KNOX $420,680 $538,650 $651,050 $809,150
LAKE $420,680 $538,650 $651,050 $809,150
LAUDERDALE $420,680 $538,650 $651,050 $809,150
LAWRENCE $420,680 $538,650 $651,050 $809,150
LEWIS $420,680 $538,650 $651,050 $809,150
LINCOLN $420,680 $538,650 $651,050 $809,150
LOUDON $420,680 $538,650 $651,050 $809,150
MCMINN $420,680 $538,650 $651,050 $809,150
MCNAIRY $420,680 $538,650 $651,050 $809,150
MACON $694,600 $889,200 $1,074,850 $1,335,800
MADISON $420,680 $538,650 $651,050 $809,150
MARION $420,680 $538,650 $651,050 $809,150
MARSHALL $420,680 $538,650 $651,050 $809,150
MAURY $694,600 $889,200 $1,074,850 $1,335,800
MEIGS $420,680 $538,650 $651,050 $809,150
MONROE $420,680 $538,650 $651,050 $809,150
MONTGOMERY $420,680 $538,650 $651,050 $809,150
MOORE $420,680 $538,650 $651,050 $809,150
MORGAN $420,680 $538,650 $651,050 $809,150
OBION $420,680 $538,650 $651,050 $809,150
OVERTON $420,680 $538,650 $651,050 $809,150
PERRY $420,680 $538,650 $651,050 $809,150
PICKETT $420,680 $538,650 $651,050 $809,150
POLK $420,680 $538,650 $651,050 $809,150
PUTNAM $420,680 $538,650 $651,050 $809,150
RHEA $420,680 $538,650 $651,050 $809,150
ROANE $420,680 $538,650 $651,050 $809,150
ROBERTSON $694,600 $889,200 $1,074,850 $1,335,800
RUTHERFORD $694,600 $889,200 $1,074,850 $1,335,800
SCOTT $420,680 $538,650 $651,050 $809,150
SEQUATCHIE $420,680 $538,650 $651,050 $809,150
SEVIER $420,680 $538,650 $651,050 $809,150
SHELBY $420,680 $538,650 $651,050 $809,150
SMITH $694,600 $889,200 $1,074,850 $1,335,800
STEWART $420,680 $538,650 $651,050 $809,150
SULLIVAN $420,680 $538,650 $651,050 $809,150
SUMNER $694,600 $889,200 $1,074,850 $1,335,800
TIPTON $420,680 $538,650 $651,050 $809,150
TROUSDALE $694,600 $889,200 $1,074,850 $1,335,800
UNICOI $420,680 $538,650 $651,050 $809,150
UNION $420,680 $538,650 $651,050 $809,150
VAN BUREN $420,680 $538,650 $651,050 $809,150
WARREN $420,680 $538,650 $651,050 $809,150
WASHINGTON $420,680 $538,650 $651,050 $809,150
WAYNE $420,680 $538,650 $651,050 $809,150
WEAKLEY $420,680 $538,650 $651,050 $809,150
WHITE $420,680 $538,650 $651,050 $809,150
WILLIAMSON $694,600 $889,200 $1,074,850 $1,335,800
WILSON $694,600 $889,200 $1,074,850 $1,335,800

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