Athens FHA Loans

ATHENS-CLARKE COUNTY, GA

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Athens's 105 lenders originated 724 FHA loans during 2021. The total origination value was $146,120,000, with an average FHA loan value of $201,823.

Athens FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Athens averaged 5.4% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.33% and one month ago for the week of 2022-04-08, the average rate was 4.89%.

The average rate one year ago was 3.3%.

For refis of the same type during the week of 2022-05-13, the average rate was 5.11%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Athens FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Athens level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
HOMESTAR FINANCIAL CORPORATION 96 3.15% $6,484
QUICKEN LOANS, LLC 63 2.76% $5,993
MOVEMENT MORTGAGE, LLC 30 3.14% $7,908
PENNYMAC LOAN SERVICES, LLC 24 3.12% $5,013
GUARANTEED RATE, INC. 24 3.17% $8,262
FREEDOM MORTGAGE CORPORATION 22 2.94% $4,966
Mr. Cooper ( Nationstar Mortgage ) 22 3.28% $4,648
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 3.28% $8,502
LAKEVIEW LOAN SERVICING, LLC 21 3.05% $5,052
UNITED WHOLESALE MORTGAGE, LLC 20 2.86% $7,812
BANKSOUTH MORTGAGE COMPANY, LLC 19 2.89% $8,894
Bank of England 13 3.12% $7,398
ACOPIA, LLC 13 3.10% $7,894
AMERICAN FINANCIAL NETWORK, INC. 11 3.09% $10,537
Equity Prime Mortgage LLC 9 3.53% $9,445
CROSSCOUNTRY MORTGAGE, LLC 9 3.30% $7,478
BROKER SOLUTIONS, INC. 7 3.23% $8,454
NEWREZ LLC 7 2.95% $4,781
VILLAGE CAPITAL & INVESTMENT LLC 7 2.84% $1,268
CALIBER HOME LOANS, INC. 7 2.85% $6,060
CALCON MUTUAL MORTGAGE LLC 6 4.08% $7,409
Carrington Mortgage Services, LLC 5 3.85% $7,945
Ameris Bank 5 2.95% $9,233
MILEND, INC. 5 3.00% $9,573
PLANET HOME LENDING, LLC 5 2.70% $3,951
First Horizon Bank 5 2.83% $7,433
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 5 3.35% $9,157
Lakeview Community Capital, LLC 5 2.89% $5,016
Nations Lending Corporation 4 3.22% $9,035
EVERETT FINANCIAL, INC. 4 3.91% $6,932
First Option Mortgage, LLC 4 3.19% $7,458
Magnolia Bank 4 2.78% $11,338
LOANDEPOT.COM, LLC 4 3.25% $9,091
First Guaranty Mortgage Corporation 4 3.06% $6,516
ISERVE RESIDENTIAL LENDING, LLC 4 2.91% $10,807
Regions Bank 3 2.92% $7,064
SOUTHEAST MORTGAGE OF GEORGIA, INC. 3 3.04% $9,829
TOWNE MORTGAGE COMPANY 3 3.46% $6,076
GUARANTY HOME MORTGAGE CORPORATION 3 2.67% $5,834
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.42% $13,027
HOMEOWNERS FINANCIAL GROUP USA, LLC 3 3.58% $9,693
AMERISAVE MORTGAGE CORPORATION 3 3.00% $7,340
AmeriHome Mortgage Company, LLC 3 3.04% $5,295
LENDUS, LLC 3 3.33% $8,202
Platinum Home Mortgage Corporation 2 3.13% $14,087
SHELTER HOME MORTGAGE, LLC 2 3.69% $6,217
First Federal Bank 2 3.13% $6,382
HOME POINT FINANCIAL CORPORATION 2 3.19% $7,398
RELIANCE FIRST CAPITAL, LLC 2 3.13% $8,296
Bank of America 2 3.13% $8,016
Hometown Equity Mortgage, LLC 2 3.75% $12,772
CMG MORTGAGE, INC. 2 3.00% $9,341
GUARANTEED RATE AFFINITY, LLC 2 2.94% $8,639
THE MORTGAGE FIRM, INC. 2 3.31% $6,990
FIRST COMMUNITY MORTGAGE, INC. 2 3.13% $7,081
Prosperity Home Mortgage, LLC 2 4.06% $8,734
OCEANSIDE MORTGAGE COMPANY 2 2.62% $2,566
Capital City Home Loans, LLC 2 3.06% $7,686
VANDERBILT MORTGAGE AND FINANCE, INC. 2 2.75% $7,441
Mortgage Research Center, LLC 1 3.50% $3,192
Alcova Mortgage LLC 1 2.75% $2,842
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 3.00% $7,143
ANGEL OAK HOME LOANS LLC 1 2.75% $8,942
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.38% $8,205
Century Mortgage Company DBA Century Lending Company 1 3.25% $10,234
CERTAINTY HOME LOANS, LLC 1 2.88% $8,324
CRESCENT MORTGAGE COMPANY 1 2.75% $7,329
DAS Acquisition Company, LLC 1 3.25% $6,887
DHI MORTGAGE COMPANY, LTD. 1 2.50% $6,104
DIRECT LENDERS, LLC 1 2.75% $4,801
EAGLE HOME MORTGAGE, LLC 1 2.88% $6,444
EMBRACE HOME LOANS, INC. 1 3.50% $7,289
First-Citizens Bank & Trust Company 1 2.75% $7,761
GMFS LLC 1 2.38% $8,118
Goldwater Bank, N.A. 1 3.50% $6,080
GUILD MORTGAGE COMPANY 1 3.13% $11,029
HOMESIDE FINANCIAL, LLC 1 3.63% $4,701
InterContinental Capital Group, Inc 1 3.50% $7,339
JMAC LENDING, INC. 1 2.88% $5,701
LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $8,530
LOANLEADERS OF AMERICA, INC. 1 2.75% $14,198
MEMBER FIRST MORTGAGE, LLC 1 3.38% $10,863
Mortgage Assurance Inc. 1 2.75% $6,241
MORTGAGE INVESTORS GROUP, INC. 1 2.63% $8,427
1ST SIGNATURE LENDING, LLC 1 3.63% $10,590
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.75% $7,958
NATIONS DIRECT MORTGAGE, LLC 1 3.75% $4,978
NexBank 1 3.13% $7,644
NP, Inc. 1 3.00% $19,391
OCMBC, INC. 1 4.25% $12,557
ON Q FINANCIAL, INC. 1 2.75% $8,304
Paramount Residential Mortgage Group, Inc. 1 2.25% $6,433
PLAZA HOME MORTGAGE, INC. 1 3.00% $3,919
POLARIS HOME FUNDING CORP. 1 3.75% $9,954
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.63% $9,940
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.13% $10,081
RESOURCE FINANCIAL SERVICES, INC. 1 2.25% $6,099
RUOFF MORTGAGE COMPANY, INC. 1 3.88% $3,847
SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.13% $2,862
South State Bank 1 2.88% $8,084
STOCKTON MORTGAGE CORPORATION 1 2.88% $6,609
Synovus Bank 1 2.75% $10,592
United Community Bank 1 3.25% $7,846
U.S. Bank 1 2.75% $6,962
ZILLOW HOME LOANS, LLC 1 2.63% $5,980

The top Athens FHA lender as defined by loan originations is HOMESTAR FINANCIAL CORPORATION, with 96 FHA loans originated. Their average total fees are $6,484, which is $491 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Athens FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($4,648), FREEDOM MORTGAGE CORPORATION ($4,966), PENNYMAC LOAN SERVICES, LLC ($5,013), LAKEVIEW LOAN SERVICING, LLC ($5,052) and QUICKEN LOANS, LLC ($5,993).

The lowest rate Athens FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.76%), UNITED WHOLESALE MORTGAGE, LLC (2.86%), BANKSOUTH MORTGAGE COMPANY, LLC (2.89%), FREEDOM MORTGAGE CORPORATION (2.94%) and LAKEVIEW LOAN SERVICING, LLC (3.05%).

Athens FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
ATHENS-CLARKE COUNTY, GA CLARKE 2022 $457,700 $585,950 $708,250 $880,200
ATHENS-CLARKE COUNTY, GA MADISON 2022 $457,700 $585,950 $708,250 $880,200
ATHENS-CLARKE COUNTY, GA OCONEE 2022 $457,700 $585,950 $708,250 $880,200
ATHENS-CLARKE COUNTY, GA OGLETHORPE 2022 $457,700 $585,950 $708,250 $880,200

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Athens (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $272,200 (14.9%) $316,890 (11.7%) 1.00 876
2018-02-01 $279,900 (13.1%) $318,156 (8.9%) 1.01 992
2018-03-01 $279,900 (12.0%) $321,686 (8.0%) 0.97 1,079
2018-04-01 $289,950 (12.6%) $341,007 (11.7%) 0.97 1,124
2018-05-01 $293,350 (10.3%) $348,522 (12.7%) 0.98 1,119
2018-06-01 $289,000 (6.1%) $349,315 (12.9%) 0.96 1,175
2018-07-01 $281,839 (2.5%) $346,198 (10.5%) 0.94 1,190
2018-08-01 $280,450 (0.5%) $345,183 (8.9%) 0.94 1,189
2018-09-01 $274,900 (2.2%) $337,494 (9.0%) 0.92 1,240
2018-10-01 $273,000 (1.2%) $330,682 (4.5%) 0.91 1,257
2018-11-01 $274,900 (1.9%) $328,034 (3.2%) 0.92 1,222
2018-12-01 $279,000 (1.5%) $334,575 (3.9%) 0.96 1,136
2019-01-01 $289,450 (6.3%) $341,395 (7.7%) 1.00 1,033
2019-02-01 $294,950 (5.4%) $348,653 (9.6%) 0.99 1,104
2019-03-01 $301,586 (7.8%) $355,710 (10.6%) 0.98 1,065
2019-04-01 $312,700 (7.9%) $370,375 (8.6%) 0.98 1,008
2019-05-01 $323,263 (10.2%) $377,748 (8.4%) 1.00 999
2019-06-01 $322,400 (11.6%) $375,637 (7.5%) 0.99 1,061
2019-07-01 $304,124 (7.9%) $375,278 (8.4%) 0.95 1,087
2019-08-01 $302,314 (7.8%) $368,519 (6.8%) 0.95 1,044
2019-09-01 $299,900 (9.1%) $363,096 (7.6%) 0.95 1,017
2019-10-01 $297,450 (9.0%) $363,937 (10.1%) 0.95 1,012
2019-11-01 $309,000 (12.4%) $384,588 (17.2%) 1.00 950
2019-12-01 $298,327 (6.9%) $385,545 (15.2%) 0.99 896
2020-01-01 $298,750 (3.2%) $392,235 (14.9%) 1.00 783
2020-02-01 $325,000 (10.2%) $413,839 (18.7%) 1.05 808
2020-03-01 $329,000 (9.1%) $417,880 (17.5%) 1.03 840
2020-04-01 $329,900 (5.5%) $412,146 (11.3%) 1.03 900
2020-05-01 $339,900 (5.2%) $418,515 (10.8%) 1.03 847
2020-06-01 $339,910 (5.4%) $424,129 (12.9%) 0.99 793
2020-07-01 $328,035 (7.9%) $411,629 (9.7%) 0.94 788
2020-08-01 $325,900 (7.8%) $417,174 (13.2%) 0.93 765
2020-09-01 $332,915 (11.0%) $413,493 (13.9%) 0.95 668
2020-10-01 $334,900 (12.6%) $422,597 (16.1%) 0.96 604
2020-11-01 $345,000 (11.7%) $427,468 (11.2%) 0.99 584
2020-12-01 $346,150 (16.0%) $436,575 (13.2%) 1.02 538
2021-01-01 $349,900 (17.1%) $442,721 (12.9%) 1.03 477
2021-02-01 $364,900 (12.3%) $458,134 (10.7%) 1.05 399
2021-03-01 $377,450 (14.7%) $456,887 (9.3%) 1.06 354
2021-04-01 $372,500 (12.9%) $445,514 (8.1%) 1.00 362
2021-05-01 $375,000 (10.3%) $464,067 (10.9%) 0.99 394
2021-06-01 $364,450 (7.2%) $469,483 (10.7%) 0.95 484
2021-07-01 $374,450 (14.2%) $467,600 (13.6%) 0.97 549
2021-08-01 $352,450 (8.2%) $445,448 (6.8%) 0.93 546
2021-09-01 $349,900 (5.1%) $445,185 (7.7%) 0.92 544
2021-10-01 $349,900 (4.5%) $444,997 (5.3%) 0.92 504
2021-11-01 $357,400 (3.6%) $462,477 (8.2%) 0.94 410
2021-12-01 $374,450 (8.2%) $487,389 (11.6%) 1.00 323
2022-01-01 $375,000 (7.2%) $509,124 (15.0%) 1.00 280
2022-02-01 $377,450 (3.4%) $502,424 (9.7%) 0.96 291
2022-03-01 $405,000 (7.3%) $515,601 (12.9%) 1.00 289
2022-04-01 $399,000 (7.1%) $513,263 (15.2%) 0.94 351
Athens's median listing price for 2022-04-01 was $399,000, a difference of $26,500 (7.1%) versus the prior year and $-6,000 versus the prior month.

Athens's median listing price comes in at 94% of the national average.

Athens's average listing price for 2022-04-01 was $513,263, a difference of $67,749 (15.2%) versus the prior year and $-2,338 versus the prior month.

For the 2022-04-01 period, Athens had 351 MLS listings, a difference of 62 listings (21%) versus the prior month and -11 listings (-3%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Athens (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 88 days 2,420 sqft
2018-02-01 62 days 2,462 sqft
2018-03-01 41 days 2,421 sqft
2018-04-01 52 days 2,448 sqft
2018-05-01 57 days 2,405 sqft
2018-06-01 57 days 2,386 sqft
2018-07-01 63 days 2,365 sqft
2018-08-01 67 days 2,336 sqft
2018-09-01 68 days 2,313 sqft
2018-10-01 74 days 2,311 sqft
2018-11-01 81 days 2,293 sqft
2018-12-01 93 days 2,313 sqft
2019-01-01 101 days 2,350 sqft
2019-02-01 84 days 2,399 sqft
2019-03-01 57 days 2,476 sqft
2019-04-01 57 days 2,560 sqft
2019-05-01 58 days 2,535 sqft
2019-06-01 53 days 2,517 sqft
2019-07-01 55 days 2,484 sqft
2019-08-01 59 days 2,450 sqft
2019-09-01 60 days 2,411 sqft
2019-10-01 68 days 2,451 sqft
2019-11-01 71 days 2,500 sqft
2019-12-01 79 days 2,470 sqft
2020-01-01 80 days 2,479 sqft
2020-02-01 49 days 2,559 sqft
2020-03-01 50 days 2,509 sqft
2020-04-01 54 days 2,430 sqft
2020-05-01 63 days 2,460 sqft
2020-06-01 59 days 2,443 sqft
2020-07-01 50 days 2,418 sqft
2020-08-01 45 days 2,526 sqft
2020-09-01 46 days 2,368 sqft
2020-10-01 47 days 2,321 sqft
2020-11-01 49 days 2,292 sqft
2020-12-01 57 days 2,235 sqft
2021-01-01 57 days 2,216 sqft
2021-02-01 60 days 2,285 sqft
2021-03-01 43 days 2,250 sqft
2021-04-01 32 days 2,262 sqft
2021-05-01 34 days 2,200 sqft
2021-06-01 33 days 2,129 sqft
2021-07-01 33 days 2,076 sqft
2021-08-01 38 days 2,025 sqft
2021-09-01 39 days 2,066 sqft
2021-10-01 47 days 2,062 sqft
2021-11-01 54 days 2,134 sqft
2021-12-01 53 days 2,018 sqft
2022-01-01 40 days 2,175 sqft
2022-02-01 32 days 2,150 sqft
2022-03-01 29 days 2,239 sqft
2022-04-01 24 days 2,213 sqft
Athens's median listing age (time on market) for 2022-04-01 was 24 days. This is -25% shorter than the same period one year ago.

Athens's median square footage for active listings during the 2022-04-01 period was 2,213 sqft. One year prior, the average listing was 2,262 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).