Tennessee (TN) FHA Home Loans
Tennessee FHA loans are home loans insured by the FHA (Federal Housing Administration) which give Tennessee borrowers the opportunity to secure TN home loans, when they don’t quality for other conventional loans. For example, future Tennessee homeowners with little credit history or poor credit history are sometimes able to qualify for Tennessee FHA loans.
- Tennessee FHA Loans for First Time Homeowners: TN FHA loans are ideal for first-time Tennessee homeowners due to low down-payment requirements and flexible qualifying guidelines.
- Refinancing with FHA Loans in Tennessee: FHA also offers a refinancing option for Tennessee homeowners where it’s possible to refinance up to 97.5 percent of your home’s value. Additionally, there’s also an option for FHA cash-out refinance of up to 85 percent.
Tennessee FHA Requirements
- No income limit
- Tennessee borrower credit score flexibility
- 3.5 percent down payment on Tennessee Purchase Loans
- Bankruptcy: TN FHA loans can be obtained as soon as 2 years after Chapter 7 discharge (assuming good credit history since)
- Foreclosures: Tennessee FHA loans can be obtained as early as 3 years after the final date of foreclosure (assuming good credit history since)
What are the Loan Limits?
FHA loan limits in Tennessee vary based on a number of criteria including the specific location (county), number of units in the property (up to 4-unit properties in Tennessee), etc. Please contact Home Point Financial’s Tennessee FHA loan experts for details on loan limits for FHA loans in Tennessee (TN). Contact Home Point Financial to learn more about FHA Loans in Memphis, Nashville, Knoxville and throughout Tennessee.
