Augusta FHA Loan Rates, Closing Costs & Stats
AUGUSTA-RICHMOND COUNTY, GA-SC
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.
Augusta's 148 lenders originated 1,977 FHA loans during 2023. The total origination value was $447,725,000, with an average FHA loan value of $226,467.
Augusta FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Augusta
averaged
5.86%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Augusta's average FHA mortgage closing costs are $7,395.
The average rate for the prior week (2024-09-27) was
5.75% and
one month ago for the week of 2024-08-30, the
average rate was 6.01%.
The average rate one year ago was 7.04%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.8%.
Augusta FHA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Augusta level.
The top Augusta FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
222 FHA loans originated. Their average total fees are
$9,567, which is $444
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Augusta FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. ($7,232), FBC MORTGAGE, LLC ($7,894), Synovus Bank ($8,314), Regions Bank ($8,492) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,741).
The lowest rate Augusta FHA lenders (with over 10 loans originated) are
DHI MORTGAGE COMPANY, LTD. (5.35%), FBC MORTGAGE, LLC (5.42%), AMERISAVE MORTGAGE CORPORATION (5.76%), PENNYMAC LOAN SERVICES, LLC (6.03%) and Security Federal Bank (6.03%).
Augusta FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
AUGUSTA-RICHMOND COUNTY, GA-SC | BURKE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
AUGUSTA-RICHMOND COUNTY, GA-SC | COLUMBIA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
AUGUSTA-RICHMOND COUNTY, GA-SC | LINCOLN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
AUGUSTA-RICHMOND COUNTY, GA-SC | MCDUFFIE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
AUGUSTA-RICHMOND COUNTY, GA-SC | RICHMOND | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
AUGUSTA-RICHMOND COUNTY, GA-SC | AIKEN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
AUGUSTA-RICHMOND COUNTY, GA-SC | EDGEFIELD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
AUGUSTA-RICHMOND COUNTY, GA-SC | BURKE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
AUGUSTA-RICHMOND COUNTY, GA-SC | COLUMBIA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
AUGUSTA-RICHMOND COUNTY, GA-SC | LINCOLN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
AUGUSTA-RICHMOND COUNTY, GA-SC | MCDUFFIE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
AUGUSTA-RICHMOND COUNTY, GA-SC | RICHMOND | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
AUGUSTA-RICHMOND COUNTY, GA-SC | AIKEN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
AUGUSTA-RICHMOND COUNTY, GA-SC | EDGEFIELD | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Augusta (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $219,000 (9.6%) | $273,886 (7.6%) | 0.81 | 2,496 |
2018-02-01 | $221,620 (8.1%) | $280,935 (9.3%) | 0.80 | 2,499 |
2018-03-01 | $224,900 (7.6%) | $286,253 (9.9%) | 0.79 | 2,443 |
2018-04-01 | $228,450 (8.8%) | $289,163 (9.5%) | 0.77 | 2,450 |
2018-05-01 | $230,063 (5.8%) | $292,658 (7.7%) | 0.77 | 2,463 |
2018-06-01 | $229,000 (5.9%) | $291,560 (6.8%) | 0.76 | 2,443 |
2018-07-01 | $224,950 (4.6%) | $287,153 (6.5%) | 0.75 | 2,490 |
2018-08-01 | $219,900 (2.3%) | $282,511 (5.0%) | 0.74 | 2,493 |
2018-09-01 | $218,450 (0.7%) | $278,832 (3.6%) | 0.73 | 2,563 |
2018-10-01 | $219,250 (2.0%) | $275,085 (2.6%) | 0.74 | 2,564 |
2018-11-01 | $218,610 (0.5%) | $272,379 (0.0%) | 0.74 | 2,545 |
2018-12-01 | $215,000 (-0.4%) | $277,722 (2.1%) | 0.74 | 2,468 |
2019-01-01 | $215,000 (-1.8%) | $278,969 (1.9%) | 0.74 | 2,370 |
2019-02-01 | $217,000 (-2.1%) | $282,184 (0.4%) | 0.73 | 2,335 |
2019-03-01 | $223,800 (-0.5%) | $287,721 (0.5%) | 0.73 | 2,272 |
2019-04-01 | $229,750 (0.6%) | $293,681 (1.6%) | 0.73 | 2,243 |
2019-05-01 | $230,000 (0.0%) | $296,445 (1.3%) | 0.72 | 2,264 |
2019-06-01 | $234,900 (2.6%) | $299,033 (2.6%) | 0.73 | 2,201 |
2019-07-01 | $235,900 (4.9%) | $303,928 (5.8%) | 0.74 | 2,241 |
2019-08-01 | $234,245 (6.5%) | $297,480 (5.3%) | 0.74 | 2,244 |
2019-09-01 | $233,264 (6.8%) | $297,617 (6.7%) | 0.75 | 2,209 |
2019-10-01 | $233,266 (6.4%) | $297,683 (8.2%) | 0.75 | 2,185 |
2019-11-01 | $229,000 (4.8%) | $295,282 (8.4%) | 0.75 | 2,107 |
2019-12-01 | $229,450 (6.7%) | $292,969 (5.5%) | 0.77 | 2,015 |
2020-01-01 | $229,918 (6.9%) | $299,294 (7.3%) | 0.77 | 1,879 |
2020-02-01 | $232,600 (7.2%) | $306,976 (8.8%) | 0.76 | 1,792 |
2020-03-01 | $236,545 (5.7%) | $307,441 (6.9%) | 0.74 | 1,764 |
2020-04-01 | $244,651 (6.5%) | $315,731 (7.5%) | 0.77 | 1,748 |
2020-05-01 | $249,900 (8.7%) | $325,612 (9.8%) | 0.76 | 1,575 |
2020-06-01 | $254,950 (8.5%) | $338,343 (13.2%) | 0.75 | 1,368 |
2020-07-01 | $250,200 (6.1%) | $339,139 (11.6%) | 0.73 | 1,326 |
2020-08-01 | $259,000 (10.6%) | $343,693 (15.5%) | 0.74 | 1,258 |
2020-09-01 | $264,900 (13.6%) | $350,327 (17.7%) | 0.76 | 1,159 |
2020-10-01 | $262,690 (12.6%) | $345,195 (16.0%) | 0.75 | 1,179 |
2020-11-01 | $249,995 (9.2%) | $360,987 (22.3%) | 0.73 | 1,060 |
2020-12-01 | $251,892 (9.8%) | $358,199 (22.3%) | 0.75 | 1,027 |
2021-01-01 | $259,000 (12.7%) | $358,350 (19.7%) | 0.77 | 943 |
2021-02-01 | $259,850 (11.7%) | $376,888 (22.8%) | 0.76 | 794 |
2021-03-01 | $262,500 (11.0%) | $390,452 (27.0%) | 0.74 | 715 |
2021-04-01 | $275,299 (12.5%) | $414,082 (31.2%) | 0.75 | 673 |
2021-05-01 | $290,000 (16.1%) | $411,397 (26.4%) | 0.77 | 731 |
2021-06-01 | $287,450 (12.8%) | $404,021 (19.4%) | 0.76 | 801 |
2021-07-01 | $289,900 (15.9%) | $395,724 (16.7%) | 0.76 | 863 |
2021-08-01 | $284,900 (10.0%) | $376,965 (9.7%) | 0.76 | 946 |
2021-09-01 | $285,125 (7.6%) | $371,830 (6.1%) | 0.76 | 971 |
2021-10-01 | $279,900 (6.6%) | $363,729 (5.4%) | 0.75 | 996 |
2021-11-01 | $287,450 (15.0%) | $365,671 (1.3%) | 0.77 | 955 |
2021-12-01 | $281,175 (11.6%) | $357,277 (-0.3%) | 0.76 | 856 |
2022-01-01 | $281,670 (8.8%) | $356,746 (-0.5%) | 0.76 | 733 |
2022-02-01 | $284,900 (9.6%) | $355,569 (-5.7%) | 0.74 | 626 |
2022-03-01 | $281,503 (7.2%) | $358,846 (-8.1%) | 0.70 | 635 |
2022-04-01 | $290,000 (5.3%) | $362,661 (-12.4%) | 0.69 | 723 |
2022-05-01 | $307,370 (6.0%) | $373,738 (-9.2%) | 0.70 | 955 |
2022-06-01 | $313,915 (9.2%) | $377,375 (-6.6%) | 0.70 | 1,089 |
2022-07-01 | $315,000 (8.7%) | $371,292 (-6.2%) | 0.71 | 1,272 |
2022-08-01 | $313,869 (10.2%) | $370,028 (-1.8%) | 0.73 | 1,360 |
2022-09-01 | $312,989 (9.8%) | $368,660 (-0.9%) | 0.73 | 1,358 |
2022-10-01 | $312,900 (11.8%) | $365,109 (0.4%) | 0.74 | 1,522 |
2022-11-01 | $319,800 (11.3%) | $369,405 (1.0%) | 0.77 | 1,638 |
2022-12-01 | $319,700 (13.7%) | $368,455 (3.1%) | 0.79 | 1,647 |
2023-01-01 | $324,200 (15.1%) | $379,091 (6.3%) | 0.80 | 1,571 |
2023-02-01 | $329,900 (15.8%) | $385,641 (8.5%) | 0.80 | 1,400 |
2023-03-01 | $320,080 (13.7%) | $384,587 (7.2%) | 0.75 | 1,360 |
2023-04-01 | $315,000 (8.6%) | $383,794 (5.8%) | 0.73 | 1,367 |
2023-05-01 | $316,250 (2.9%) | $385,697 (3.2%) | 0.72 | 1,380 |
2023-06-01 | $317,175 (1.0%) | $391,524 (3.8%) | 0.71 | 1,407 |
2023-07-01 | $309,900 (-1.6%) | $377,758 (1.7%) | 0.70 | 1,504 |
2023-08-01 | $299,950 (-4.4%) | $368,204 (-0.5%) | 0.69 | 1,587 |
2023-09-01 | $302,430 (-3.4%) | $370,026 (0.4%) | 0.70 | 1,638 |
2023-10-01 | $309,950 (-0.9%) | $373,732 (2.4%) | 0.73 | 1,762 |
2023-11-01 | $309,900 (-3.1%) | $372,866 (0.9%) | 0.74 | 1,854 |
2023-12-01 | $309,999 (-3.0%) | $369,412 (0.3%) | 0.76 | 1,834 |
2024-01-01 | $309,925 (-4.4%) | $364,872 (-3.8%) | 0.76 | 1,802 |
2024-02-01 | $307,942 (-6.7%) | $359,807 (-6.7%) | 0.74 | 1,742 |
2024-03-01 | $304,500 (-4.9%) | $358,250 (-6.9%) | 0.72 | 1,834 |
2024-04-01 | $304,775 (-3.3%) | $364,357 (-5.1%) | 0.71 | 1,790 |
2024-05-01 | $309,450 (-2.2%) | $375,535 (-2.6%) | 0.70 | 1,840 |
2024-06-01 | $312,875 (-1.4%) | $380,200 (-2.9%) | 0.70 | 1,911 |
2024-07-01 | $311,958 (0.7%) | $380,317 (0.7%) | 0.71 | 1,994 |
2024-08-01 | $310,000 (3.4%) | $373,264 (1.4%) | 0.72 | 2,073 |
2024-09-01 | $307,700 (1.7%) | $372,903 (0.8%) | 0.00 | 2,173 |
Augusta's median listing price comes in at 0% of the national average.
Augusta's average listing price for 2024-09-01 was $372,903, a difference of $2,877 (0.8%) versus the prior year and $-361 versus the prior month.
For the 2024-09-01 period, Augusta had 2,173 MLS listings, a difference of 100 listings (5%) versus the prior month and 535 listings (33%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Augusta (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 93 days | 2,190 sqft |
2018-02-01 | 87 days | 2,223 sqft |
2018-03-01 | 67 days | 2,241 sqft |
2018-04-01 | 65 days | 2,271 sqft |
2018-05-01 | 60 days | 2,300 sqft |
2018-06-01 | 61 days | 2,299 sqft |
2018-07-01 | 66 days | 2,255 sqft |
2018-08-01 | 71 days | 2,200 sqft |
2018-09-01 | 74 days | 2,175 sqft |
2018-10-01 | 76 days | 2,175 sqft |
2018-11-01 | 79 days | 2,132 sqft |
2018-12-01 | 85 days | 2,106 sqft |
2019-01-01 | 94 days | 2,104 sqft |
2019-02-01 | 91 days | 2,115 sqft |
2019-03-01 | 75 days | 2,177 sqft |
2019-04-01 | 59 days | 2,230 sqft |
2019-05-01 | 54 days | 2,238 sqft |
2019-06-01 | 53 days | 2,250 sqft |
2019-07-01 | 55 days | 2,246 sqft |
2019-08-01 | 61 days | 2,233 sqft |
2019-09-01 | 68 days | 2,240 sqft |
2019-10-01 | 75 days | 2,249 sqft |
2019-11-01 | 79 days | 2,211 sqft |
2019-12-01 | 87 days | 2,212 sqft |
2020-01-01 | 89 days | 2,206 sqft |
2020-02-01 | 82 days | 2,205 sqft |
2020-03-01 | 62 days | 2,234 sqft |
2020-04-01 | 63 days | 2,282 sqft |
2020-05-01 | 72 days | 2,287 sqft |
2020-06-01 | 73 days | 2,294 sqft |
2020-07-01 | 61 days | 2,284 sqft |
2020-08-01 | 50 days | 2,294 sqft |
2020-09-01 | 51 days | 2,304 sqft |
2020-10-01 | 51 days | 2,156 sqft |
2020-11-01 | 51 days | 2,219 sqft |
2020-12-01 | 53 days | 2,263 sqft |
2021-01-01 | 55 days | 2,250 sqft |
2021-02-01 | 53 days | 2,234 sqft |
2021-03-01 | 38 days | 2,195 sqft |
2021-04-01 | 32 days | 2,221 sqft |
2021-05-01 | 27 days | 2,271 sqft |
2021-06-01 | 30 days | 2,256 sqft |
2021-07-01 | 31 days | 2,188 sqft |
2021-08-01 | 32 days | 2,147 sqft |
2021-09-01 | 38 days | 2,146 sqft |
2021-10-01 | 45 days | 2,119 sqft |
2021-11-01 | 45 days | 2,159 sqft |
2021-12-01 | 52 days | 2,157 sqft |
2022-01-01 | 54 days | 2,156 sqft |
2022-02-01 | 42 days | 2,099 sqft |
2022-03-01 | 33 days | 2,052 sqft |
2022-04-01 | 31 days | 2,088 sqft |
2022-05-01 | 32 days | 2,112 sqft |
2022-06-01 | 38 days | 2,115 sqft |
2022-07-01 | 40 days | 2,103 sqft |
2022-08-01 | 46 days | 2,105 sqft |
2022-09-01 | 49 days | 2,103 sqft |
2022-10-01 | 50 days | 2,100 sqft |
2022-11-01 | 56 days | 2,153 sqft |
2022-12-01 | 70 days | 2,159 sqft |
2023-01-01 | 79 days | 2,161 sqft |
2023-02-01 | 81 days | 2,163 sqft |
2023-03-01 | 65 days | 2,138 sqft |
2023-04-01 | 48 days | 2,112 sqft |
2023-05-01 | 48 days | 2,139 sqft |
2023-06-01 | 47 days | 2,121 sqft |
2023-07-01 | 45 days | 2,095 sqft |
2023-08-01 | 47 days | 2,025 sqft |
2023-09-01 | 52 days | 2,033 sqft |
2023-10-01 | 54 days | 2,079 sqft |
2023-11-01 | 57 days | 2,063 sqft |
2023-12-01 | 66 days | 2,046 sqft |
2024-01-01 | 77 days | 2,027 sqft |
2024-02-01 | 70 days | 2,013 sqft |
2024-03-01 | 56 days | 2,013 sqft |
2024-04-01 | 53 days | 2,011 sqft |
2024-05-01 | 50 days | 2,031 sqft |
2024-06-01 | 50 days | 2,074 sqft |
2024-07-01 | 58 days | 2,070 sqft |
2024-08-01 | 58 days | 2,068 sqft |
2024-09-01 | 0 days | 2,028 sqft |
Augusta's median square footage for active listings during the 2024-09-01 period was 2,028 sqft. One year prior, the average listing was 2,033 sqft.