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

$1,650,000
4 Beds 6 Baths 1355009 MLS ACTIVE Status
RARE AIRBNB LUXE STATUS. CHALET VILLAGE. PANORAMIC MT. LECONTE VIEWS. THIS ONE HAS IT ALL. Welcome to Garrett Lodge, where luxury, location, incredible amenities and some of the most breathtaking views in the Smokies come together in one unforgettable property. Located in highly sought-after Chalet Village, just minutes from Downtown Gatlinburg, Pigeon Forge and Great Smoky Mountains National Park, this newly renovated 5-bedroom, 5.5-bath luxury cabin is the type of property that immediately stands apart. And perhaps its biggest distinction? AIRBNB LUXE STATUS--a RARE designation that separates this cabin from the ordinary STR. Add an impressive 4.96-star Airbnb rating and Guest Favorite status, and Garrett Lodge has already demonstrated exactly what today's luxury Smoky Mountain guest is looking for. But first... THE VIEWS. The sweeping, panoramic views of Mt. LeConte and the Great Smoky Mountains are absolutely spectacular. Walls of windows and multiple expansive covered decks were made to showcase the scenery, giving guests a front-row seat to the mountains from morning coffee to sunset cocktails and evenings around the fire. Inside, the newly renovated cabin blends upscale finishes with warm mountain character and was designed for large groups without sacrificing privacy. Five bedrooms accommodate up to 12 guests, including 2 king bedrooms, 2 queen bedrooms and a double-queen bedroom--and EVERY bedroom has its own private full ensuite bathroom. A convenient half bath off the kitchen completes the layout. The updated kitchen is spacious, stylish and fully equipped, opening into inviting dining and living spaces made for gathering. Step outside to the main-level deck and dinner gets an upgrade with outdoor dining, comfortable seating, a gas grill, fire pit and those incredible mountain views. Then comes the entertainment--and Garrett Lodge DELIVERS. The dedicated GAME ROOM is packed with amenities including a pool table, shuffleboard, poker table and arcade machine, while the separate PRIVATE THEATER ROOM creates the ultimate movie-night experience. This isn't a cabin guests simply sleep in; it's a property designed to keep them entertained. Outside may be even more impressive. The lower covered deck features a PRIVATE HOT TUB overlooking the mountains, additional lounge seating and another fire-pit area. Beyond the decks is something especially hard to find in a mountain cabin--an EXPANSIVE YARD designed for gathering and entertaining, complete with a custom gas fire pit, cornhole, giant Connect Four and plenty of room to enjoy the outdoors. Ownership in Chalet Village adds even more appeal, with access to three clubhouses offering seasonal pools plus year-round tennis/pickleball courts and fitness facilities. AIRBNB LUXE. CHALET VILLAGE. MT. LECONTE VIEWS. 5 EN-SUITE BEDROOMS. PRIVATE THEATER. LOADED GAME ROOM. HOT TUB. MULTIPLE FIRE PITS. HUGE YARD. MULTIPLE COVERED DECKS. Garrett Lodge isn't simply another Gatlinburg cabin competing for attention--it's the kind of luxury Smoky Mountain property that creates the experience guests travel here for. The views stop you. The amenities sell you. The rare Airbnb Luxe status sets it apart.

1433 Garrett Place, Gatlinburg

$895,000
3 Beds 2 Baths 1355006 MLS ACTIVE Status
Exceptional Country Property on 13+ Acres | Renovated Basement Rancher | Horse-Ready | Convenient to Knoxville Discover the rare opportunity to own a beautifully renovated basement rancher on 13+ acres of gated, fully fenced, horse-ready land, while remaining only approximately 25 minutes from downtown Knoxville. This property offers the best of both worlds--peaceful country living, beautiful mountain views, usable acreage, and convenient access to restaurants, grocery stores, and city amenities. The home has been completely renovated inside and out and features 3 bedrooms with ample closet space and 2 full baths. Numerous quality updates include new high-quality LVP flooring, lighting, doors and hardware, plumbing fixtures, and electrical outlets throughout. The oversized kitchen features all-new appliances, new solid-wood shaker cabinets, and custom granite countertops. The bright and spacious family room offers beautiful country views and plenty of room to relax or entertain. A spacious laundry room incorporates the second full bathroom, while an additional room near the attached garage provides excellent flexibility and could be used as a dining room, office, or 4th bedroom. The home also offers a full 1,539-square-foot unfinished walk-out basement, providing tremendous potential to expand the living space while offering abundant storage. The basement includes a brick fireplace that can serve as a backup heat source and could be finished for recreation, additional living space, a workshop, home gym, office, or other needs. A one-car attached garage features a new insulated door and opener. The roof and HVAC are approximately 3 years old, with newer windows, gutters, and downspouts adding further value and peace of mind. Outside, you'll find a substantial 15' x 40' three-bay open garage, ideal for tractors, vehicles, ATVs, equipment, recreational toys, or additional storage. An additional metal horse barn is conveniently located near the home and includes horse stalls and an automatic waterer. The acreage is fully fenced and gated and ready for horses, with plenty of gently rolling, usable land ideal for riding, recreation, farming, or simply enjoying the outdoors. Several excellent potential building sites have already been perked, offering exciting possibilities for future expansion. Surrounded by natural beauty, open space, fresh air, and mountain views, this property provides a peaceful rural setting without giving up convenience. Properties offering this combination of a renovated home, 13+ acres, walk-out basement, horse facilities, multiple outbuildings, fencing, and convenient access to Knoxville are truly hard to find. The home is ready. The land is ready. The horses are ready. Now it's waiting for its next steward.

10732 Richland +13 Acres Rd, Mascot

$422,350
3 Beds 3 Baths 1355003 MLS ACTIVE Status
Welcome to the Langley C, a beautifully designed 2-story new construction home offering 1,883 sq. ft., 3 bedrooms, and 2.5 baths. This thoughtfully planned layout offers the convenience of a main-level owner's suite and laundry room, while providing additional living space upstairs. The main level features an inviting foyer, spacious gathering area with a fireplace, dining area, and a well-appointed kitchen with a large island and sink. LVP flooring extends throughout the main level and continues onto the stairs, creating a cohesive and low-maintenance living space. A convenient powder room is located near the foyer, with garage access just off the entry. Upstairs, two secondary bedrooms share a full bathroom and are complemented by a versatile loft area and an open-to-below overlook into the foyer, adding an open and spacious feel. Step outside to enjoy the covered rear deck, perfect for relaxing or entertaining. The Langley C combines the convenience of main-level living with flexible upstairs space, making it an ideal home for a variety of lifestyles. Located at 3320 Mountain Aster Drive in Knoxville, TN 37924, Lot 138. Located in Harvest Meadow, you'll be just minutes from shopping and restaurants, with easy interstate access and approximately 15 minutes from the University of Tennessee. HOA is just $42 per month and includes trash service. Currently under construction and anticipated to be move-in ready by the end of the year.

3320 Mountain Aster Drive, Knoxville

$780,000
2 Beds 3 Baths 313759 MLS ACTIVE Status
NEW - TURNKEY & UNDER 6 MILES TO PIGEON FORGE PARKWAY Brand-new luxury in an excellent location tucked between Cedar Falls and The Summit, less than 6 miles from the Pigeon Forge Parkway! This beautifully furnished 2-bedroom retreat offers the perfect combination of easy access, privacy, upscale finishes, entertainment, and turnkey rental potential. The spacious main level features an open living and dining area, fully equipped kitchen with granite countertops, and a private primary suite. Custom accent walls throughout add character and help set this property apart from the typical cabin. The primary bathroom features a double vanity and a beautiful walk-in tile shower with dual heads, adding another touch of luxury for owners and guests. Step outside to the covered side porch and unwind in the hot tub while enjoying the peaceful wooded setting. Brand-new furniture and décor throughout give the property a fresh, upscale feel and make it completely turnkey for its next owner. Upstairs is built for guest entertainment with air hockey, pool, Boss Toss, and a comfortable theater-style lounge area, along with the second bedroom and full bathroom. The home sits on mostly flat terrain with a private, wooded setting, flat parking, and easy roadways to and from town--features that are especially desirable for Smoky Mountain vacation rentals. With its prime location, luxury finishes, custom accent walls, brand-new furnishings, guest-friendly amenities, and easy access to Pigeon Forge, this property is ready to unlock its rental potential and capture upcoming fall bookings.

2320 Bogle Spring Loop, Sevierville

$1,300,000
3 Beds 4 Baths 1355001 MLS ACTIVE Status
**RARE AIRBNB LUXE STATUS. CHALET VILLAGE. SHOW-STOPPING SMOKY MOUNTAIN VIEWS.** This is not your average Gatlinburg cabin. Welcome to **Three Oaks Retreat**, an exceptional luxury STR positioned in one of Gatlinburg's most sought-after locations and offering the combination investors and vacationers are constantly searching for: **LOCATION + VIEWS + LUXURY + AMENITIES + PROVEN GUEST APPEAL.** Let's start with what immediately sets this property apart--**AIRBNB LUXE STATUS.** This is a RARE distinction, with Luxe properties recognized by Airbnb as extraordinary homes vetted for quality. Pair that with a **4.91-star rating across 67 guest reviews**, and you're looking at a property that doesn't just photograph beautifully--it has already proven its ability to impress guests. Located in highly desirable **Chalet Village**, Three Oaks Retreat puts guests just minutes from Downtown Gatlinburg, the Parkway and the entrance to Great Smoky Mountains National Park while delivering the mountain setting visitors come here to experience. And those **VIEWS**? They're the star of the show. Sweeping Smoky Mountain scenery stretches out from multiple levels of this three-story cabin, creating incredible backdrops from the living spaces, bedrooms and expansive outdoor decks. Morning coffee, sunset cocktails and evenings by the fire all come with a front-row seat to the mountains. Inside, the cabin is designed around luxury, privacy and group travel with **3 spacious KING suites, each with its own private en-suite bathroom**. The open-concept main level showcases a dramatic living room with fireplace, dining space for gathering and a large kitchen--all positioned to take advantage of those unforgettable mountain views. The upper-level primary suite takes the experience even further with its own **PRIVATE DECK AND FIRE PIT**--a secluded place to sit back and take in the panoramic scenery. Downstairs, the cabin becomes an entertainment destination. The dedicated **GAME ROOM** is loaded with guest-favorite amenities including a **pool table, shuffleboard, Pac-Man console, poker set and additional games**. Flat-screen TVs throughout and high-speed Wi-Fi add to the guest-ready setup. Outside is where this property truly captures the Smoky Mountain vacation experience. **MULTIPLE DECKS** provide space to dine, grill, relax and entertain while surrounded by mountain views. The expansive covered lower deck features a **PRIVATE HOT TUB, comfortable lounge seating, fire pit, cornhole and life-size Jenga**--giving guests a reason to enjoy the cabin just as much as the attractions. Ownership in **Chalet Village** adds another layer of appeal with access to **3 clubhouses, seasonal swimming pools, year-round tennis/pickleball courts and fitness facilities**. **RARE AIRBNB LUXE STATUS. CHALET VILLAGE. PANORAMIC VIEWS. 3 KING EN-SUITE BEDROOMS. GAME ROOM. HOT TUB. MULTIPLE DECKS. FIRE FEATURES.** Three Oaks Retreat brings together the features that make a Smoky Mountain property stand out in a crowded STR market. Whether you're looking for a luxury mountain retreat or a distinctive Gatlinburg investment property with an established guest history, **THIS is the kind of cabin buyers wait for.** **The views get their attention. The amenities make them stay. The Airbnb Luxe status sets it apart.**

1015 Twin Oaks Rd, 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 .