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

Thank you for considering Gateway

Search for your next dream home

1629 Glen Echo Rd, Nashville
$1,199,000
4 Beds ⋅ 4 Baths ⋅ 3627232 MLS ⋅ ACTIVE Status
Welcome to elevated living in the heart of Green Hills! Inside, the main level feels bright and inviting, with a sun-filled sitting room, an open kitchen and dining area, and a generous great room anchored by a gas fireplace. Designed with both function and style in mind, the kitchen boasts granite countertops, a large island, a gas cooktop, and a walk-in pantry. Just beyond the kitchen, a covered deck provides a comfortable outdoor retreat for grilling, dining, or relaxing in the shade. The oversized two-car garage features an epoxy-coated floor and optimized built-in storage. Upstairs, all four bedrooms feature private walk-in closets, offering plenty of storage and personal space. The primary suite is a true retreat, complete with a private balcony, an expansive closet, a double-sink vanity, and a beautifully updated tiled shower. The fourth bedroom offers outstanding versatility, with its own full ensuite bath and wet bar—an ideal setup for a home office, bonus room, or private guest suite. This is a true 4 bedroom + a separate office providing multiple work from home options. Additional highlights include a flexible landing area and an oversized laundry room with granite countertops and abundant workspace. Additional guest parking is conveniently located behind the property, while HOA-maintained landscaping creates an attractive, low-maintenance setting. Enjoy the convenience of sidewalks and easy access to nearby green spaces, the Green Hills Library, Lipscomb University, grocery stores, and Green Hills Mall.

1629 Glen Echo Rd, Nashville

3003 Lewisburg Hwy, Pulaski
$1,180,000
4 Beds ⋅ 5 Baths ⋅ 3627217 MLS ⋅ ACTIVE Status
Luxury Living Meets Southern Charm in Beautiful Giles County! Experience exceptional craftsmanship, thoughtful design, and upscale living in this stunning custom-built 4-bedroom, 5-bath home, conveniently located in beautiful Giles County with easy access to I-65 at Exit 22. Enjoy the perfect balance of privacy, space, and convenience, with an easy commute to both Nashville and Huntsville! Designed with both elegance and functionality in mind, this impressive home showcases an expansive open floor plan, a generously appointed kitchen with abundant cabinetry and a spacious walk-in pantry, and a breathtaking living room featuring soaring 12-foot ceilings accented by exposed wood beams and a cozy gas fireplace. Every detail has been carefully considered to create a home that is as inviting as it is impressive. The main-level primary suite offers a true private retreat, complete with an extraordinary 9’ x 22’ walk-in closet, a beautifully appointed private bathroom, and its own private porch. An office and additional living space on the main level provide flexibility for working from home, entertaining guests, or accommodating your lifestyle needs. Upstairs, you’ll discover even more exceptional living space, including a versatile bonus area with a second kitchen, three additional bedrooms, additional bathrooms, and an oversized storage area. Whether you’re hosting extended family, entertaining overnight guests, or simply looking for room to spread out, this thoughtfully designed layout offers endless possibilities. Step outside and unwind on the private covered porch, where a fireplace, elegant tile flooring, and a tongue-and-groove ceiling create the perfect setting for relaxing evenings, entertaining friends, or enjoying the peaceful surroundings of the Tennessee countryside. Additional acreage is available, offering an opportunity to expand your space and create the property you’ve always envisioned. Luxury, Space and Convenience all in one package.

3003 Lewisburg Hwy, Pulaski

150 Lafayette Terrace Unit 28, Crossville
$495,000
3 Beds ⋅ 2 Baths ⋅ 1360154 MLS ⋅ ACTIVE Status
***SOME REAL ESTATE WEBSITES POST INACCURATE OPEN HOUSE TIMES. PLEASE CALL AGENT TO CONFIRM. ***PLEASE NOTE; This property may appear in searches for 'Condos' or 'Townhomes.' Check out this gorgeous townhome in Lafayette Pointe! Split design with many upgrades in 2026, including: encapsulation, insulation, and a commercial grade dehumidifier in the crawl space; reverse osmosis drinking water system; new high efficiency heat pump; two mounted televisions; washer/dryer and microwave; storm door to the side of the deck; professional cleaning of the vinyl floor planking, and even some painting and a new workbench in the garage! Other desirable features of this low-maintenance home include great storage and closets throughout, a large eat-in kitchen with an island and a separate formal dining room, a finished 14 x 20 bonus room over the garage, generous windows with views of the woods, jacuzzi tub, gas log fireplace, his and her walk-in closets and a great laundry room with sink and extra storage space. Lafayette Pointe offers private roads, paths, docks, walking/hiking trails as well as direct access to beautiful Lake Glastowbury. The Fairfield Glade HOA is $137/mo. FFG offers 5 18-hole golf courses, tennis, pickleball, about 30 miles of dedicated hiking trails, two outdoor pools, one indoor pool, two marinas/beaches and 11 lakes for fishing, boating and kayaking. The Glastowbury Pointe POA fee is $320/mo. and covers exterior maintenance, landscaping, lawn care, common areas and docks. Please see additional documents for further information. The POA allows one pet not to exceed 30 pounds. Please call Bill to schedule your showing today!

150 Lafayette Terrace Unit 28, Crossville

3003 Lewisburg Hwy, Pulaski
$1,000,000
4 Beds ⋅ 5 Baths ⋅ 3627210 MLS ⋅ ACTIVE Status
Luxury Living Meets Southern Charm in Beautiful Giles County! Experience exceptional craftsmanship, thoughtful design, and upscale living in this stunning custom-built 4-bedroom, 5-bath home, conveniently located in beautiful Giles County with easy access to I-65 at Exit 22. Enjoy the perfect balance of privacy, space, and convenience, with an easy commute to both Nashville and Huntsville! Designed with both elegance and functionality in mind, this impressive home showcases an expansive open floor plan, a generously appointed kitchen with abundant cabinetry and a spacious walk-in pantry, and a breathtaking living room featuring soaring 12-foot ceilings accented by exposed wood beams and a cozy gas fireplace. Every detail has been carefully considered to create a home that is as inviting as it is impressive. The main-level primary suite offers a true private retreat, complete with an extraordinary 9’ x 22’ walk-in closet, a beautifully appointed private bathroom, and its own private porch. An office and additional living space on the main level provide flexibility for working from home, entertaining guests, or accommodating your lifestyle needs. Upstairs, you’ll discover even more exceptional living space, including a versatile bonus area with a second kitchen, three additional bedrooms, additional bathrooms, and an oversized storage area. Whether you’re hosting extended family, entertaining overnight guests, or simply looking for room to spread out, this thoughtfully designed layout offers endless possibilities. Step outside and unwind on the private covered porch, where a fireplace, elegant tile flooring, and a tongue-and-groove ceiling create the perfect setting for relaxing evenings, entertaining friends, or enjoying the peaceful surroundings of the Tennessee countryside. Additional acreage is available, offering an opportunity to expand your space and create the property you’ve always envisioned. Luxury, Space and Convenience all in one package.

3003 Lewisburg Hwy, Pulaski

1975 Burke Hollow Rd, Nolensville
$829,975
4 Beds ⋅ 3 Baths ⋅ 3627203 MLS ⋅ COMING SOON Status
Tucked away on 8.4 beautiful acres in Nolensville, this classic A-frame cabin sits atop a hill, more than 700 feet off a quiet, winding road, offering exceptional privacy, peaceful surroundings, and spectacular sunrise and sunset views! With over 2,745 professionally measured square feet and two kitchens, this one-of-a-kind property is filled with character, charm, and endless possibilities. The first level features beautiful honed stone flooring sourced right from the property, along with a kitchen, pool table area, and half bath—perfect for entertaining! The second level offers another kitchen, three bedrooms, a full bath, and a two-story great room with High ceilings and LOTS of windows that fill the space with natural light. Overlooking the great room, the third level provides a spacious retreat that could serve as a primary suite or bonus room, complete with an oversized walk-in closet and private bath. Outside, the possibilities continue! Enjoy the semi-above-ground pool with a covered poolside entertaining area and an updated open shed, perfect for keeping your drinks cold and catching the game on TV. A light-filled, barn-framed greenhouse is just waiting for someone to bring it back to its former glory. With 8.4 acres to explore, there's room to ride your side-by-side, enjoy the outdoors, or clear your own trails toward the back of the property. Whether you're looking for a private retreat, a unique place to call home, or a property you can truly make your own, this Nolensville cabin offers an incredible opportunity to bring your vision to life. A little imagination and some TLC could make this hidden gem something truly special! No unscheduled appointments or driving onto the property or driveway without your agent AND prior approval. See room dimensions and layout under Documents. Home is sold AS-IS but inspections are welcome.

1975 Burke Hollow Rd, Nolensville

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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 .

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Information Is Believed To Be Accurate But Not Guaranteed. Some or all listings may or may not be listed by the office/agent presenting these featured properties. Copyright 2026 MTRMLS, Inc. RealTracs Solutions.

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