Smoky Mountains Real Estate Search

General Underwriting Guidelines

Loan Types:

  • Conventional
    • No minimum credit score (wouldn’t recommend below 680 FICO)
    • Primary, Second home, or Investment properties allowed
  • Lender Paid or Borrower Paid MI for loan > than 80% LTV
    • 3% to 10% down = 3% max seller concessions
    • 10% to 25% down = 6% max seller concessions
    • >25% down = 9% max seller concessions
    • Investment property = 2% max seller concessions
      • Minimum 5% down payment required (3% for 1st-time homebuyer)
      • Max Loan amount: $548,250
      • Max seller paid closing costs varies based on borrower down payment amount:
  • FHA
    • Minimum 580 FICO score
    • Primary residence only
    • FHA Upfront MIP of 1.75% of the loan amount (gets rolled into loan)
    • Up to 0.85% monthly mortgage insurance payment for the life of the loan w/less than 10% down. Greater than 10% down, MI will be for 11 years
    • Minimum 3.5% down payment required
    • Max loan amount of $356,362 for most of East TN areas
    • 6% max seller concessions
  • USDA
    • Minimum 620 FICO score
    • Primary residence only
    • USDA Upfront Fee of 1% of the loan amount (gets rolled into loan)
    • 0.35% monthly mortgage insurance payment for the life of the loan
    • NO required down payment
    • Some restricted areas apply
    • Max 1-4 person(s) annual income = $90,300
    • 5+ persons annual income = $119,200
    • 6% max seller concessions
  • VA
    • Disabled veterans may be exempt from the funding fee
    • Veterans
      • 181 Continuous days of active duty
    •  Current Members on Active Duty
      • 90 days of active service
    •  National Guard & Reserves
      • 90 days of active service
    • Surviving un-remarried spouses of a Veteran who died while in service
      • Minimum 580 FICO score
      • Minimum VA Funding Fee of 2.30% of the loan amount (gets rolled into loan)
      • VA Loan Eligibility
      • No required down payment
      • 4% max seller concessions
  • THDA
    • Purchase Price > $150,000 = $7,500
    • Purchase Price > $150,000 = $6,000
      • Minimum 640 credit score
      • Primary residence only
      • Standard FHA guidelines apply to THDA
      • Down payment assistance based on the purchase price
      • THDA homebuyer education course may be required
      • Some restricted areas apply
      • Income & Acquisition restrictions apply
      • 2.75% interest rate applies to all THDA guaranteed loans
      • 6% max seller concessions
  • FHA 203k
    • Minimum 620 FICO score
    • Primary residence only
    • Standard FHA guidelines apply
    • Contractor must be approved through Gateway construction division
  • Conventional Fannie Mae Renovation
    • Minimum 660 FICO score
    • Minimum 5% down payment for primary residence and 15% for an investment home
    • Lender Paid or Borrower Paid MI for loan > than 80% LTV
    • Contractor must be approved through Gateway construction division
  • New Construction to Perm
    • Minimum 620 FICO score
    • Primary or Secondary residence only
    • Minimum 5% down payment for Primary (May use lot equity as down payment)
    • Minimum 20% for Secondary
    • Lender Paid or Borrower Paid MI for loan > 80% LTV
    • Contractor must be approved through Gateway construction division
  • Jumbo - Loan amount > $548,250
    • Can go up to 95% LTV
    • Generally, requires three to six months reserves

 

 

Billy Phillips
Loan Originator

9145 Cross Park Dr., Ste. 101
Knoxville, TN 37923
NMLS 187614
TN 187614
Direct: 865.282.4940
Fax: 856.282.4953

Email: Billy.Phillips@gatewayloan.com

Thank you for considering Gateway

 

Search for your next dream home

$179,900
3 Beds ⋅ 2 Baths ⋅ 712344 MLS ⋅ ACTIVE Status
PERFECT INVESTMENT WITH A HOME ON 2 ACRES. BRING YOUR HORSES . THIS FENCED IN PROPERTY HAS ROOM FOR YOUR ANIMALS. THE 2 ACRES CAN BE DIVIDED FOR A SPARE LOT TO BUILD OR SELL.

2185 Lynx Road, New Market
$450,000
2 Beds ⋅ 2 Baths ⋅ 1349611 MLS ⋅ ACTIVE Status
Enjoy peaceful mountain views, easy roads, and a prime location just minutes from Sevierville, Pigeon Forge, the Great Smoky Mountains National Park, and only 4 miles from Soaky Mountain Waterpark. This 2-bedroom, 2-bath cabin features both bedrooms conveniently located on the main level, along with a cozy living room with a gas fireplace and a fully equipped kitchen and dining area. Upstairs, the spacious open loft provides additional sleeping accommodations and a fun game area with a pool table, making it the perfect space for entertaining family and guests. Relax on two private decks surrounded by nature and take in the peaceful wooded setting. Eagle Springs Resort also offers a community pool, making this an ideal personal retreat or short-term rental investment just 8 miles from the Pigeon Forge Parkway.

2123 Wingspan Drive, Sevierville
$379,000
3 Beds ⋅ 2 Baths ⋅ 712345 MLS ⋅ ACTIVE Status
Welcome to this beautifully maintained 3-bedroom, 2-bath ranch home on 0.69 of an acre in Newport, Tennessee. Built in 2016, this move-in-ready home offers approximately 1,380 square feet of comfortable living space, a 2-car attached garage, and mountain views from both the covered front and back porches. Inside, you'll find an inviting open floor plan featuring a spacious living room with natural gas log fireplace, creating a warm and cozy gathering space. The kitchen is equipped with a natural gas stove, ample cabinetry, and all appliances convey, making this home truly move-in ready. High-speed Spectrum cable and internet provide excellent connectivity for remote work, streaming, or online learning. Step outside and enjoy your own private backyard retreat. The built-in fenced swimming pool is perfect for cooling off on warm summer days, while the hot tub offers year-round relaxation. A detached storage shed provides additional storage, and a converted outbuilding creates the ultimate entertainment space with air conditioning, electricity, an electric fireplace, and TV. Just outside, the deck with the hot tub is the perfect place to unwind while taking in the peaceful East Tennessee scenery. Located in the foothills of the Great Smoky Mountains, Newport offers the best of small-town living with convenient access to outdoor recreation. Enjoy nearby Cherokee National Forest, Douglas Lake, and the French Broad River for boating, fishing, hiking, and kayaking. The home is also within easy driving distance of Gatlinburg, Pigeon Forge, Sevierville, Morristown, and Knoxville, giving you access to shopping, dining, entertainment, and medical facilities while enjoying the beauty and tranquility of Cocke County. Whether you're looking for a full-time residence, retirement home, or a peaceful mountain retreat, this well-maintained property offers the perfect combination of comfort, outdoor living, modern conveniences, and East Tennessee charm. Some photos have been digitally enhanced.

253 Ramblin Road, Newport
$549,000
3 Beds ⋅ 2 Baths ⋅ 1349610 MLS ⋅ ACTIVE Status
Luxury New Construction with Peaceful Water Views in Catoosa Ridge. Welcome to this beautifully crafted new construction home in the desirable Catoosa Ridge subdivision of Crossville, where timeless design, quality craftsmanship, and peaceful surroundings come together. Situated on 0.84 acres, this stunning 3 bedroom, 2 bath residence offers approximately 2,000 square feet of thoughtfully designed living space with upscale finishes and attention to detail throughout. From the moment you arrive, you'll be welcomed by a spacious covered front porch featuring warm tongue-and-groove ceilings, cedar-stained posts, and an eye catching custom entry door. It's the perfect place to start your day with a cup of coffee. Inside, the semi open concept floor plan creates an inviting atmosphere that's ideal for both everyday living and entertaining. The living room is centered around a dramatic floor-to-ceiling stone gas fireplace complete with a built in media niche, while luxury vinyl plank flooring flows seamlessly throughout the home other than the kitchen and guest bath which feature vinyl tile. Tiffany inspired stained glass accents and vintage style lighting add warmth and character, creating a space that feels both elegant and welcoming. The heart of the home is the beautifully appointed kitchen, where style meets function. Quartz countertops, custom shaker style soft-close cabinetry, stainless steel appliances, a gas range with a designer vent hood, and generous prep space make this kitchen a dream for any home chef. The large kitchen windows flood the kitchen with natural light and frame picturesque water view. This turns everyday moments, like washing dishes or cooking, into something special. The private primary suite was designed with comfort in mind, offering a built-in coffee bar for slow mornings and a spa-inspired ensuite featuring a tiled walk-in shower, double vanity, and spacious walk-in closet. Built for efficiency as well as beauty, this home includes a tankless water heater, whole-house water filtration system, encapsulated crawlspace, a mixture of composite siding and brick with an architectural shingle roof, providing peace of mind and low-maintenance living for years to come. The three car garage is finished with a professionally coated epoxy floor, adding both durability and a polished touch. The builder would like to note that there is potential to build a detached garage on the property as well. Offering the perfect balance of luxury, comfort, and everyday functionality, this exceptional new construction is ready to welcome you home. *****Buyer to verify all information before making an informed offer. Builder is offer a 1 year builders warranty. THIS IS A NEW CONSTRUCTION TAXES ARE TBD.***********

427 Bluff View Lp, Crossville
$271,929
3 Beds ⋅ 2 Baths ⋅ 1349609 MLS ⋅ ACTIVE Status
Welcome to Cane Creek Farms. A new community situated on 60 acres with a quiet country setting, dog park, pavilion area, & convenient to town + I-40. Each home offers energy efficient features, a 10x12 storage building, trex decking, & oversized concrete driveways. The Washington is on .95 acres offering open concept living w/ split floor plan, a large island, ss appliances, a pantry, & a spacious laundry/mudroom. The primary suite offers a walk-in closet, dbl vanities + tiled walk-in shower & soaking tub. Each property was built with you in mind! 1yr Claytons Warranty.

1760 Anna Maria Lane, Cookeville
$280,000
3 Beds ⋅ 2 Baths ⋅ 1349608 MLS ⋅ ACTIVE Status
This charming 3-bedroom, 1.5-bath all-brick ranch is located in the desirable Halls area and offers incredible potential. Featuring a 2-car garage and solid construction, this home has great bones and is ready for your personal updates and TLC. Step into the spacious living room, where you'll find a large picture window that fills the space with natural light, a cozy wood-burning fireplace, and built-in shelving on either side. The home also features an open, updated kitchen with granite countertops, stainless steel appliances, and plenty of cabinet space. The main bathroom was renovated approximately five years ago, along with the kitchen updates. Outside, you'll enjoy a level, generously sized yard that's perfect for entertaining, gardening, or play. This home is being sold as-is, making it an excellent opportunity for buyers looking to add their own finishing touches while building equity.

7605 Ogg Rd, Knoxville
$839,000
5 Beds ⋅ 5 Baths ⋅ 1349607 MLS ⋅ COMING SOON - NO SHOWINGS Status
Welcome to this stunning home featuring sleek, modern finishes and thoughtful upgrades throughout. Step inside to discover a beautifully designed interior with an inviting open layout, abundant natural light, and a spacious kitchen complete with ample cabinetry, a large island, and plenty of room for gathering and entertaining. The generously sized bedrooms provide comfort and flexibility, while the spa-inspired primary suite offers a relaxing retreat with a large walk-in shower and separate soaking tub. The living room features a built-in entertainment center, creating the perfect space for cozy evenings at home. Enjoy outdoor living from the covered patio overlooking the large backyard, complete with a privacy fence, leveled rubber-mulched playset area, and a large playset that is only one year old. This home is filled with modern conveniences, including Delta matte black plumbing fixtures, motorized remote-controlled window shades, Smart Nest thermostats, Smart LG laundry machines, an electric vehicle charging outlet in the garage, and app-controlled Govee LED permanent lighting. Combining style, comfort, and smart-home features, this exceptional home offers a welcoming space designed for today's lifestyle.

1435 Ridge Climber Rd, Knoxville
$464,900
2 Beds ⋅ 2 Baths ⋅ 712343 MLS ⋅ ACTIVE Status
Unique opportunity to purchase a turnkey, ready-to-go, vacation rental property with views and access to Cherokee Lake. The home was purchased by the current owners as a remodeling project with the goal of using it as an income producing short-term rental. With other ongoing projects, the sellers have decided to put the home on the market as the remodeling wraps up. The home has never been occupied by any renters. HOWEVER, the home does not need to be used as a rental. It can be the new owner's primary residence. It can be the new owners' vacation get-away. Or it can be used as a vacation rental. Your choice. The property is in a tucked away, private community. Sitting on a desirable double corner lot, the home is not lakefront, but the lake is immediately in front of the home, providing excellent views of Cherokee Lake. The covered deck, which faces Cherokee Lake, provides plenty of sitting area, enhancing the views. The home has access to high-speed fiber internet, cable, public water (not a well!) and there is no HOA. A residents-only boat ramp is directly across the street for easy access to launch your boat, jet ski, kayak, or floats. Or simply stroll a few steps to the lake and do some fishing. A shed conveys, for storing gardening tools or lake equipment. There is also a one-car garage which could be used to store a boat or as a workshop. As mentioned earlier, the home has been extensively remodeled. Here is an abbreviated list of some of the new features: Plumbing updated to PEX pipe throughout. Updated wiring with new LED ceiling light fixtures. New ceiling fans inside and new outdoor ceiling fan on porch. New waterproof LVP flooring in living room, bedrooms, and downstairs. New ceramic tile flooring in kitchen, both bathrooms, and laundry room. New sheetrock in living room, kitchen, and both bathrooms. New shiplap siding on two living room walls, one kitchen wall, upstairs bathroom, and on a downstairs wall. New kitchen countertops. New kitchen sink and faucet. Painted cabinets, with new cabinet hardware in kitchen. Painted cabinet, and new hardware in upstairs bathroom. Two new walk-in showers with ceramic tiles and new shower faucets. Updated six-panel doors with new hardware and passage locks throughout. New stair-treads, railings, and balusters. Brand new, never used, furniture and table lamps have been added to the living room and bedrooms (the furniture tags are still attached). Televisions which were going to be added to the bedrooms and living spaces are still in their boxes. No need to purchase anything, simply move in and enjoy. As a plus, the roof, windows, and HVAC are less than nine years old. In fact, the HVAC was recently serviced and the coil replaced. There are two bedrooms upstairs and a full-size bathroom. The living room has a sleeper sofa. The basement has another full-size bathroom as well as another sleeper sofa. The main level and the basement have their own individual driveways and entrances. This gives you the opportunity to have two sets of renters at the same time. Or use one part of the home and rent the other. As of now, the home has sleeping arrangements for eight guests. Set up a bunk bed or two and this will easily increase the capacity to 10-12. While short-term rentals are common in Gatlinburg, they are less prevalent on Cherokee Lake. With weekenders, fishing tournament participants, and vacationers, desiring to stay close to Cherokee Lake, rental opportunities abound. Enjoy this home year-round, rent it part-time, or keep it as your own vacation retreat. With its many possibilities and an attractive list price, the choice is yours. It's time to live the Cherokee Lake Life!

120 Pine Fork Road, Rutledge
$369,900
3 Beds ⋅ 3 Baths ⋅ 1349605 MLS ⋅ ACTIVE Status
Completely remodeled brick home in a fantastic Talbott location offering the perfect blend of convenience and country living! Situated just minutes from shopping, dining, schools, and nearby access to Cherokee Lake, this property provides a peaceful setting with a private backyard and room to enjoy the outdoors. This move-in ready home has been updated inside and out with a new roof, gutters, downspouts, fresh paint, new HVAC system, and new water heater. Inside, you'll find all-new flooring, fixtures, kitchen cabinets, appliances, and beautifully remodeled bathrooms. The main level features 3 bedrooms and 2 full baths, while the finished lower level offers a spacious den with a fireplace, an additional full bath, and a 2-car garage. If you're looking for a fully updated home with modern finishes, plenty of space, and a great location with a country feel, this one is a must-see!

915 Ronald Drive, Talbott
$1,995,000
5 Beds ⋅ 6 Baths ⋅ 1349606 MLS ⋅ ACTIVE Status
Nestled in the heart of Gatlinburg, Tennessee, this stunning property at 793 Chestnut Dr is a newly constructed single-family home that offers luxury living in a serene mountain setting. Built in 2022, this three-story home boasts modern architecture, high-end finishes, and ample living space, making it the perfect retreat for those seeking a peaceful escape in the Smoky Mountains .With a total of five bathrooms and one half bathroom, this home offers plenty of convenience for residents and guests alike. The spacious layout spans 3,746 square feet of finished area, providing plenty of room for relaxation and entertainment. The open-concept design creates a seamless flow between the living spaces, making it ideal for gatherings and socializing. Situated on a generous lot size of 0.91 acres, this property offers plenty of outdoor space to enjoy the natural beauty of the surrounding area. Whether you're looking to relax on the expansive deck, take a stroll through the lush landscaping, or simply soak in the breathtaking mountain views, this home provides the perfect backdrop for outdoor living. As you step inside, you'll be greeted by a light-filled interior that exudes warmth and sophistication. The main level features a spacious living room with a cozy fireplace, perfect for relaxing on chilly evenings. The gourmet kitchen is a chef's dream, equipped with top-of-the-line appliances, custom cabinetry, and a large island for meal preparation and casual dining. Each of the 5 bedrooms has their own en suite bathroom. Other notable features of this property include hardwood floors, high ceilings, recessed lighting. With three stories of living space, there's no shortage of room to spread out and make yourself at home in this beautiful property. In addition to its stunning interior, this home is conveniently located near all the amenities and attractions that Gatlinburg has to offer. From hiking trails and outdoor recreation to shopping, dining, and entertainment options, this property provides easy access to everything you need for a fulfilling lifestyle in the Smoky Mountains. Overall, 793 Chestnut Dr is a rare find in the Gatlinburg real estate market, offering a perfect blend of luxury, comfort, and privacy in a picturesque mountain setting. Whether you're looking for a full-time residence or a vacation retreat, this property has everything you need to live your best life in the beauty of East Tennessee. Don't miss your chance to make this dream home a reality - schedule a showing today!

793 Chestnut Drive, Gatlinburg
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Equal Housing Opportunity. All information contained herein deemed reliable but not guaranteed. Buyers should personally verify all information. All content Copyright 1998-2026 Great Smoky Mountains Association of Realtors. All rights reserved. Last updated .