Athens FHA Loans

ATHENS-CLARKE COUNTY, GA

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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).