Augusta FHA Loan Rates, Closing Costs & Stats

Augusta-Waterville, ME

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 50 lenders originated 324 FHA loans during 2024. The total origination value was $84,080,000, with an average FHA loan value of $259,506.

Augusta FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Augusta averaged 6.21% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

Augusta's average FHA mortgage closing costs are $7,701.

The average rate for the prior week (2025-03-28) was 6.61% and one month ago for the week of 2025-02-28, the average rate was 6.59%.

The average rate one year ago was 6.51%.

For refis of the same type during the week of 2025-04-04, the average rate was 6.18%.

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

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.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
GUILD MORTGAGE COMPANY 55 6.52% $10,643
UNITED WHOLESALE MORTGAGE, LLC 31 6.59% $10,631
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 31 6.04% $9,661
QUICKEN LOANS, LLC 27 6.39% $10,391
CMG MORTGAGE, INC. 18 6.62% $11,697
T2 FINANCIAL LLC 13 6.51% $10,631
The Camden National Bank 12 5.63% $8,544
Bangor Savings Bank 9 5.96% $7,608
PENNYMAC LOAN SERVICES, LLC 8 6.22% $10,021
CUSO MORTGAGE CORPORATION 6 5.63% $9,669
NORTHPOINT MORTGAGE, INC. 6 6.40% $10,284
DAS Acquisition Company, LLC 6 6.15% $9,090
BROKER SOLUTIONS, INC. 5 6.50% $9,105
FREEDOM MORTGAGE CORPORATION 5 6.70% $12,233
LEADERONE FINANCIAL CORPORATION 5 7.00% $13,205
Mortgage Research Center, LLC 5 6.93% $7,876
Ixonia Bank 3 6.96% $8,859
TOTAL MORTGAGE SERVICES, LLC 3 6.44% $12,944
Mr. Cooper ( Nationstar Mortgage ) 3 6.25% $11,586
EMBRACE HOME LOANS, INC. 3 6.06% $11,880
Paramount Residential Mortgage Group, Inc. 3 5.88% $14,479
CROSSCOUNTRY MORTGAGE, LLC 2 7.00% $12,188
HARBORONE MORTGAGE, LLC 2 7.00% $8,786
KeyBank 2 5.69% $11,269
LOANDEPOT.COM, LLC 2 6.31% $10,907
ZILLOW HOME LOANS, LLC 2 6.00% $10,963
NEWREZ LLC 2 6.50% $8,173
Carrington Mortgage Services, LLC 2 6.50% $10,536
MOVEMENT MORTGAGE, LLC 1 7.38% $8,981
VILLAGE CAPITAL MORTGAGE 1 6.88% $2,524
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $13,785
NEW DAY FINANCIAL, LLC 1 7.75% $3,745
Equity Prime Mortgage LLC 1 7.75% $13,905
First Federal Bank 1 5.75% $8,730
NORWICH COMMERCIAL GROUP, INC. 1 6.25% $11,308
OCMBC, INC. 1 6.63% $21,784
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $6,914
AMERICAN FINANCIAL NETWORK, INC. 1 6.63% $15,748
PLANET HOME LENDING, LLC 1 6.38% $8,495
POLARIS HOME FUNDING CORP. 1 6.25% $10,229
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.13% $17,364
AMERISAVE MORTGAGE CORPORATION 1 5.75% $13,286
Republic State Mortgage Co. 1 7.13% $8,796
AmeriHome Mortgage Company, LLC 1 6.99% $4,232
AMERICAN FINANCING CORPORATION 1 5.75% $10,651
Century Mortgage Company DBA Century Lending Company 1 6.13% $10,680
AMERICAN FINANCIAL RESOURCES, INC. 1 5.88% $10,834
LOANPAL, LLC 1 5.63% $11,563
MID AMERICA MORTGAGE, INC. 1 7.63% $12,272
U.S. Bank 1 6.75% $9,686

The top Augusta FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 55 FHA loans originated. Their average total fees are $10,643, which is $12 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Augusta FHA lenders (with over 10 loans originated) are The Camden National Bank ($8,544), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,661), QUICKEN LOANS, LLC ($10,391), UNITED WHOLESALE MORTGAGE, LLC ($10,631) and T2 FINANCIAL LLC ($10,631).

The lowest rate Augusta FHA lenders (with over 10 loans originated) are The Camden National Bank (5.63%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.04%), QUICKEN LOANS, LLC (6.39%), T2 FINANCIAL LLC (6.51%) and GUILD MORTGAGE COMPANY (6.52%).

Augusta FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
AUGUSTA-WATERVILLE, ME KENNEBEC 2022 $420,680 $538,650 $651,050 $809,150
AUGUSTA-WATERVILLE, ME KENNEBEC 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. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $179,450 (9.8%) $239,658 (15.1%) 0.00 554
2018-02-01 $179,900 (7.9%) $246,339 (17.5%) 0.00 520
2018-03-01 $194,900 (13.5%) $254,778 (19.8%) 0.00 503
2018-04-01 $204,975 (13.9%) $256,095 (14.8%) 0.00 512
2018-05-01 $215,950 (14.0%) $259,893 (10.1%) 0.00 593
2018-06-01 $219,000 (12.7%) $264,993 (10.4%) 0.00 698
2018-07-01 $215,000 (10.3%) $265,841 (10.3%) 0.00 740
2018-08-01 $217,100 (14.5%) $264,905 (12.9%) 0.00 755
2018-09-01 $214,998 (13.8%) $262,348 (12.4%) 0.00 763
2018-10-01 $213,975 (12.8%) $261,808 (10.8%) 0.00 729
2018-11-01 $214,400 (13.2%) $263,824 (11.9%) 0.00 659
2018-12-01 $199,950 (8.1%) $258,314 (9.5%) 0.00 578
2019-01-01 $206,000 (14.8%) $253,702 (5.9%) 0.00 521
2019-02-01 $209,317 (16.4%) $255,893 (3.9%) 0.00 474
2019-03-01 $213,869 (9.7%) $263,580 (3.5%) 0.00 446
2019-04-01 $222,500 (8.6%) $273,077 (6.6%) 0.00 431
2019-05-01 $233,500 (8.1%) $276,772 (6.5%) 0.00 507
2019-06-01 $235,000 (7.3%) $279,831 (5.6%) 0.00 576
2019-07-01 $239,675 (11.5%) $285,027 (7.2%) 0.00 614
2019-08-01 $234,145 (7.9%) $283,939 (7.2%) 0.00 599
2019-09-01 $226,189 (5.2%) $283,062 (7.9%) 0.00 581
2019-10-01 $220,884 (3.2%) $282,795 (8.0%) 0.00 564
2019-11-01 $219,000 (2.2%) $278,054 (5.4%) 0.00 527
2019-12-01 $211,000 (5.5%) $273,483 (5.9%) 0.00 431
2020-01-01 $210,500 (2.2%) $273,408 (7.8%) 0.00 379
2020-02-01 $211,000 (0.8%) $273,880 (7.0%) 0.00 344
2020-03-01 $242,450 (13.4%) $302,395 (14.7%) 0.00 323
2020-04-01 $244,925 (10.1%) $291,589 (6.8%) 0.00 327
2020-05-01 $235,000 (0.6%) $284,975 (3.0%) 0.00 314
2020-06-01 $254,250 (8.2%) $300,109 (7.3%) 0.00 311
2020-07-01 $274,975 (14.7%) $325,044 (14.0%) 0.00 311
2020-08-01 $269,000 (14.9%) $333,622 (17.5%) 0.00 275
2020-09-01 $273,950 (21.1%) $342,894 (21.1%) 0.00 264
2020-10-01 $268,500 (21.6%) $356,256 (26.0%) 0.00 275
2020-11-01 $295,000 (34.7%) $365,457 (31.4%) 0.00 256
2020-12-01 $311,250 (47.5%) $379,004 (38.6%) 0.00 217
2021-01-01 $319,900 (52.0%) $389,834 (42.6%) 0.00 174
2021-02-01 $304,950 (44.5%) $396,506 (44.8%) 0.00 143
2021-03-01 $310,000 (27.9%) $380,113 (25.7%) 0.00 126
2021-04-01 $285,972 (16.8%) $396,737 (36.1%) 0.00 128
2021-05-01 $319,950 (36.2%) $392,457 (37.7%) 0.00 147
2021-06-01 $320,000 (25.9%) $381,601 (27.2%) 0.00 204
2021-07-01 $295,000 (7.3%) $360,006 (10.8%) 0.00 253
2021-08-01 $295,000 (9.7%) $367,449 (10.1%) 0.00 279
2021-09-01 $284,450 (3.8%) $367,284 (7.1%) 0.00 274
2021-10-01 $279,450 (4.1%) $367,501 (3.2%) 0.00 239
2021-11-01 $287,000 (-2.7%) $393,846 (7.8%) 0.00 185
2021-12-01 $292,000 (-6.2%) $388,344 (2.5%) 0.00 166
2022-01-01 $299,000 (-6.5%) $407,748 (4.6%) 0.00 113
2022-02-01 $315,000 (3.3%) $408,056 (2.9%) 0.00 89
2022-03-01 $330,000 (6.5%) $444,928 (17.1%) 0.00 94
2022-04-01 $320,000 (11.9%) $449,663 (13.3%) 0.00 100
2022-05-01 $320,950 (0.3%) $443,287 (13.0%) 0.00 124
2022-06-01 $330,000 (3.1%) $444,293 (16.4%) 0.00 179
2022-07-01 $349,000 (18.3%) $452,944 (25.8%) 0.00 252
2022-08-01 $349,000 (18.3%) $453,092 (23.3%) 0.00 249
2022-09-01 $344,000 (20.9%) $431,212 (17.4%) 0.00 240
2022-10-01 $347,000 (24.2%) $434,065 (18.1%) 0.00 249
2022-11-01 $339,000 (18.1%) $434,793 (10.4%) 0.00 242
2022-12-01 $340,000 (16.4%) $439,965 (13.3%) 0.00 210
2023-01-01 $320,000 (7.0%) $413,728 (1.5%) 0.00 162
2023-02-01 $339,725 (7.9%) $417,754 (2.4%) 0.00 126
2023-03-01 $375,000 (13.6%) $466,912 (4.9%) 0.00 117
2023-04-01 $389,999 (21.9%) $498,392 (10.8%) 0.00 122
2023-05-01 $410,925 (28.0%) $524,725 (18.4%) 0.00 131
2023-06-01 $418,725 (26.9%) $547,502 (23.2%) 0.00 152
2023-07-01 $399,900 (14.6%) $530,844 (17.2%) 0.00 196
2023-08-01 $402,175 (15.2%) $521,997 (15.2%) 0.00 223
2023-09-01 $399,000 (16.0%) $517,683 (20.1%) 0.00 232
2023-10-01 $386,250 (11.3%) $484,244 (11.6%) 0.00 234
2023-11-01 $375,000 (10.6%) $461,642 (6.2%) 0.00 228
2023-12-01 $385,000 (13.2%) $470,631 (7.0%) 0.00 204
2024-01-01 $395,000 (23.4%) $462,231 (11.7%) 0.00 174
2024-02-01 $394,000 (16.0%) $439,392 (5.2%) 0.00 154
2024-03-01 $399,900 (6.6%) $455,317 (-2.5%) 0.00 134
2024-04-01 $388,500 (-0.4%) $460,901 (-7.5%) 0.00 147
2024-05-01 $392,475 (-4.5%) $466,190 (-11.2%) 0.00 185
2024-06-01 $400,000 (-4.5%) $489,131 (-10.7%) 0.00 235
2024-07-01 $409,675 (2.4%) $520,314 (-2.0%) 0.00 282
2024-08-01 $405,000 (0.7%) $527,988 (1.2%) 0.00 288
2024-09-01 $441,500 (10.7%) $549,169 (6.1%) 0.00 310
2024-10-01 $430,575 (11.5%) $541,264 (11.8%) 0.00 330
2024-11-01 $404,500 (7.9%) $524,843 (13.7%) 0.00 326
2024-12-01 $437,200 (13.6%) $539,368 (14.6%) 0.00 260
2025-01-01 $428,225 (8.4%) $515,832 (11.6%) 0.00 233
2025-02-01 $450,000 (14.2%) $536,296 (22.1%) 0.00 211
2025-03-01 $449,900 (12.5%) $524,889 (15.3%) 0.00 188
Augusta's median listing price for 2025-03-01 was $449,900, a difference of $50,000 (12.5%) versus the prior year and $-100 versus the prior month.

Augusta's median listing price comes in at 0% of the national average.

Augusta's average listing price for 2025-03-01 was $524,889, a difference of $69,572 (15.3%) versus the prior year and $-11,407 versus the prior month.

For the 2025-03-01 period, Augusta had 188 MLS listings, a difference of -23 listings (-11%) versus the prior month and 54 listings (40%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Augusta (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,678 sqft
2018-02-01 0 days 1,683 sqft
2018-03-01 0 days 1,704 sqft
2018-04-01 0 days 1,733 sqft
2018-05-01 0 days 1,734 sqft
2018-06-01 0 days 1,750 sqft
2018-07-01 0 days 1,793 sqft
2018-08-01 0 days 1,791 sqft
2018-09-01 0 days 1,800 sqft
2018-10-01 0 days 1,800 sqft
2018-11-01 0 days 1,800 sqft
2018-12-01 0 days 1,792 sqft
2019-01-01 0 days 1,796 sqft
2019-02-01 0 days 1,812 sqft
2019-03-01 0 days 1,800 sqft
2019-04-01 0 days 1,800 sqft
2019-05-01 0 days 1,800 sqft
2019-06-01 0 days 1,785 sqft
2019-07-01 0 days 1,795 sqft
2019-08-01 0 days 1,786 sqft
2019-09-01 0 days 1,774 sqft
2019-10-01 0 days 1,765 sqft
2019-11-01 0 days 1,782 sqft
2019-12-01 0 days 1,746 sqft
2020-01-01 0 days 1,726 sqft
2020-02-01 0 days 1,727 sqft
2020-03-01 0 days 1,792 sqft
2020-04-01 0 days 1,742 sqft
2020-05-01 0 days 1,677 sqft
2020-06-01 0 days 1,716 sqft
2020-07-01 0 days 1,800 sqft
2020-08-01 0 days 1,855 sqft
2020-09-01 0 days 1,850 sqft
2020-10-01 0 days 1,860 sqft
2020-11-01 0 days 1,853 sqft
2020-12-01 0 days 1,812 sqft
2021-01-01 0 days 1,786 sqft
2021-02-01 0 days 1,768 sqft
2021-03-01 0 days 1,786 sqft
2021-04-01 0 days 1,717 sqft
2021-05-01 0 days 1,657 sqft
2021-06-01 0 days 1,672 sqft
2021-07-01 0 days 1,600 sqft
2021-08-01 0 days 1,632 sqft
2021-09-01 0 days 1,597 sqft
2021-10-01 0 days 1,565 sqft
2021-11-01 0 days 1,565 sqft
2021-12-01 0 days 1,599 sqft
2022-01-01 0 days 1,594 sqft
2022-02-01 0 days 1,645 sqft
2022-03-01 0 days 1,653 sqft
2022-04-01 0 days 1,666 sqft
2022-05-01 0 days 1,692 sqft
2022-06-01 0 days 1,737 sqft
2022-07-01 0 days 1,764 sqft
2022-08-01 0 days 1,781 sqft
2022-09-01 0 days 1,755 sqft
2022-10-01 0 days 1,759 sqft
2022-11-01 0 days 1,727 sqft
2022-12-01 0 days 1,718 sqft
2023-01-01 0 days 1,702 sqft
2023-02-01 0 days 1,734 sqft
2023-03-01 0 days 1,755 sqft
2023-04-01 0 days 1,775 sqft
2023-05-01 0 days 1,788 sqft
2023-06-01 0 days 1,818 sqft
2023-07-01 0 days 1,728 sqft
2023-08-01 0 days 1,711 sqft
2023-09-01 0 days 1,704 sqft
2023-10-01 0 days 1,628 sqft
2023-11-01 0 days 1,709 sqft
2023-12-01 0 days 1,786 sqft
2024-01-01 0 days 1,735 sqft
2024-02-01 0 days 1,707 sqft
2024-03-01 0 days 1,632 sqft
2024-04-01 0 days 1,689 sqft
2024-05-01 0 days 1,679 sqft
2024-06-01 0 days 1,630 sqft
2024-07-01 0 days 1,639 sqft
2024-08-01 0 days 1,766 sqft
2024-09-01 0 days 1,832 sqft
2024-10-01 0 days 1,783 sqft
2024-11-01 0 days 1,733 sqft
2024-12-01 0 days 1,745 sqft
2025-01-01 0 days 1,698 sqft
2025-02-01 0 days 1,734 sqft
2025-03-01 0 days 1,689 sqft
Augusta's median listing age (time on market) for 2025-03-01 was 0 days.

Augusta's median square footage for active listings during the 2025-03-01 period was 1,689 sqft. One year prior, the average listing was 1,632 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).