Bainbridge FHA Loan Rates, Closing Costs & Stats

Bainbridge, GA

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    • 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.

    Bainbridge's 29 lenders originated 79 FHA loans during 2023. The total origination value was $16,125,000, with an average FHA loan value of $204,114.

    Bainbridge FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Bainbridge averaged 6.29% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Bainbridge's average FHA mortgage closing costs are $6,223.

    The average rate for the prior week (2024-11-01) was 6.36% and one month ago for the week of 2024-10-04, the average rate was 5.68%.

    The average rate one year ago was 7.33%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.63%.

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

    Bainbridge 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 Bainbridge level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    HOMESTAR FINANCIAL CORPORATION 24 6.35% $6,074
    QUICKEN LOANS, LLC 8 6.09% $9,708
    TOWNE MORTGAGE COMPANY 6 6.06% $8,168
    DHI MORTGAGE COMPANY, LTD. 4 5.62% $7,050
    Flagstar Bank, FSB 4 6.63% $11,709
    FREEDOM MORTGAGE CORPORATION 2 7.25% $12,189
    UNITED WHOLESALE MORTGAGE, LLC 2 5.74% $11,355
    University Bank 2 7.19% $8,404
    MOVEMENT MORTGAGE, LLC 2 6.75% $10,998
    Fifth Third Bank 1 6.38% $6,646
    First Federal Bank 1 7.13% $7,866
    LOANPAL, LLC 1 6.75% $9,002
    MICHIGAN MUTUAL, INC. 1 7.00% $10,880
    MORTGAGE INVESTORS GROUP, INC. 1 6.25% $8,410
    Mortgage Research Center, LLC 1 7.99% $3,335
    Nations Lending Corporation 1 7.25% $10,866
    PENNYMAC LOAN SERVICES, LLC 1 6.25% $7,880
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $17,153
    Truist 1 7.00% $7,374
    ACOPIA, LLC 1 6.38% $10,047
    ZILLOW HOME LOANS, LLC 1 6.25% $7,748
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $3,882
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.50% $13,789
    AMERISAVE MORTGAGE CORPORATION 1 6.88% $6,795
    BANKSOUTH MORTGAGE COMPANY, LLC 1 5.63% $10,268
    BETTER MORTGAGE CORPORATION 1 7.25% $7,201
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $5,941
    DELMAR FINANCIAL COMPANY 1 6.38% $16,316
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $5,018

    The top Bainbridge FHA lender as defined by loan originations is HOMESTAR FINANCIAL CORPORATION, with 24 FHA loans originated. Their average total fees are $6,074, which is $3,634 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Bainbridge FHA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($6,074), .

    The lowest rate Bainbridge FHA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION (6.35%), .

    Bainbridge FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BAINBRIDGE, GA DECATUR 2022 $420,680 $538,650 $651,050 $809,150
    BAINBRIDGE, GA DECATUR 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Bainbridge (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 $162,950 (12.0%) $187,450 (6.9%) 0.00 103
    2018-02-01 $159,100 (8.8%) $177,249 (4.0%) 0.00 101
    2018-03-01 $154,900 (8.1%) $173,369 (11.8%) 0.00 105
    2018-04-01 $159,250 (10.9%) $186,596 (18.6%) 0.00 109
    2018-05-01 $162,450 (16.1%) $191,367 (17.8%) 0.00 111
    2018-06-01 $165,000 (14.8%) $192,523 (15.6%) 0.00 111
    2018-07-01 $165,000 (14.2%) $207,780 (23.4%) 0.00 114
    2018-08-01 $166,075 (14.5%) $205,578 (23.9%) 0.00 114
    2018-09-01 $169,900 (16.4%) $214,567 (24.5%) 0.00 113
    2018-10-01 $161,500 (7.7%) $209,263 (19.1%) 0.00 120
    2018-11-01 $165,000 (4.4%) $219,265 (20.2%) 0.00 101
    2018-12-01 $174,900 (7.0%) $224,511 (17.5%) 0.00 96
    2019-01-01 $174,375 (7.0%) $224,773 (19.9%) 0.00 79
    2019-02-01 $172,275 (8.3%) $229,307 (29.4%) 0.00 72
    2019-03-01 $172,100 (11.1%) $229,194 (32.2%) 0.00 66
    2019-04-01 $176,175 (10.6%) $232,113 (24.4%) 0.00 65
    2019-05-01 $180,550 (11.1%) $249,853 (30.6%) 0.00 58
    2019-06-01 $174,900 (6.0%) $239,124 (24.2%) 0.00 57
    2019-07-01 $174,900 (6.0%) $226,105 (8.8%) 0.00 66
    2019-08-01 $176,973 (6.6%) $231,391 (12.6%) 0.00 66
    2019-09-01 $180,082 (6.0%) $238,038 (10.9%) 0.00 64
    2019-10-01 $182,155 (12.8%) $241,421 (15.4%) 0.00 65
    2019-11-01 $181,250 (9.9%) $241,573 (10.2%) 0.00 64
    2019-12-01 $186,550 (6.7%) $244,071 (8.7%) 0.00 66
    2020-01-01 $199,900 (14.6%) $266,658 (18.6%) 0.00 79
    2020-02-01 $218,000 (26.5%) $258,879 (12.9%) 0.00 64
    2020-03-01 $188,425 (9.5%) $221,798 (-3.2%) 0.00 69
    2020-04-01 $178,675 (1.4%) $208,673 (-10.1%) 0.00 71
    2020-05-01 $191,700 (6.2%) $218,308 (-12.6%) 0.00 61
    2020-06-01 $189,200 (8.2%) $212,149 (-11.3%) 0.00 59
    2020-07-01 $183,650 (5.0%) $207,052 (-8.4%) 0.00 53
    2020-08-01 $214,950 (21.5%) $240,283 (3.8%) 0.00 44
    2020-09-01 $222,225 (23.4%) $247,433 (4.0%) 0.00 47
    2020-10-01 $235,000 (29.0%) $266,267 (10.3%) 0.00 53
    2020-11-01 $234,450 (29.4%) $275,893 (14.2%) 0.00 51
    2020-12-01 $233,450 (25.1%) $273,357 (12.0%) 0.00 50
    2021-01-01 $242,000 (21.1%) $279,776 (4.9%) 0.00 46
    2021-02-01 $233,000 (6.9%) $283,252 (9.4%) 0.00 49
    2021-03-01 $249,675 (32.5%) $282,034 (27.2%) 0.00 40
    2021-04-01 $238,000 (33.2%) $248,696 (19.2%) 0.00 39
    2021-05-01 $230,000 (20.0%) $231,222 (5.9%) 0.00 40
    2021-06-01 $209,907 (10.9%) $224,042 (5.6%) 0.00 33
    2021-07-01 $230,000 (25.2%) $254,543 (22.9%) 0.00 34
    2021-08-01 $246,250 (14.6%) $286,614 (19.3%) 0.00 35
    2021-09-01 $258,125 (16.2%) $333,949 (35.0%) 0.00 29
    2021-10-01 $269,250 (14.6%) $303,061 (13.8%) 0.00 34
    2021-11-01 $265,625 (13.3%) $312,216 (13.2%) 0.00 36
    2021-12-01 $223,425 (-4.3%) $306,423 (12.1%) 0.00 38
    2022-01-01 $267,200 (10.4%) $311,910 (11.5%) 0.00 30
    2022-02-01 $284,500 (22.1%) $313,894 (10.8%) 0.00 28
    2022-03-01 $229,975 (-7.9%) $301,090 (6.8%) 0.00 31
    2022-04-01 $277,000 (16.4%) $309,376 (24.4%) 0.00 34
    2022-05-01 $277,250 (20.5%) $332,557 (43.8%) 0.00 33
    2022-06-01 $279,900 (33.3%) $336,378 (50.1%) 0.00 39
    2022-07-01 $299,950 (30.4%) $348,226 (36.8%) 0.00 49
    2022-08-01 $349,000 (41.7%) $382,278 (33.4%) 0.00 47
    2022-09-01 $357,000 (38.3%) $373,868 (12.0%) 0.00 51
    2022-10-01 $315,000 (17.0%) $367,032 (21.1%) 0.00 53
    2022-11-01 $284,725 (7.2%) $346,115 (10.9%) 0.00 53
    2022-12-01 $272,450 (21.9%) $313,036 (2.2%) 0.00 55
    2023-01-01 $265,950 (-0.5%) $293,486 (-5.9%) 0.00 48
    2023-02-01 $264,675 (-7.0%) $312,211 (-0.5%) 0.00 52
    2023-03-01 $285,450 (24.1%) $335,545 (11.4%) 0.00 45
    2023-04-01 $262,250 (-5.3%) $325,018 (5.1%) 0.00 57
    2023-05-01 $279,225 (0.7%) $347,539 (4.5%) 0.00 53
    2023-06-01 $294,250 (5.1%) $352,866 (4.9%) 0.00 55
    2023-07-01 $279,450 (-6.8%) $353,712 (1.6%) 0.00 54
    2023-08-01 $334,925 (-4.0%) $379,620 (-0.7%) 0.00 52
    2023-09-01 $319,950 (-10.4%) $355,346 (-5.0%) 0.00 51
    2023-10-01 $318,125 (1.0%) $377,394 (2.8%) 0.00 50
    2023-11-01 $307,500 (8.0%) $361,099 (4.3%) 0.00 55
    2023-12-01 $304,500 (11.8%) $336,294 (7.4%) 0.00 51
    2024-01-01 $299,000 (12.4%) $311,662 (6.2%) 0.00 62
    2024-02-01 $291,950 (10.3%) $300,313 (-3.8%) 0.00 63
    2024-03-01 $254,950 (-10.7%) $283,700 (-15.5%) 0.00 56
    2024-04-01 $254,675 (-2.9%) $282,574 (-13.1%) 0.00 59
    2024-05-01 $232,400 (-16.8%) $259,690 (-25.3%) 0.00 67
    2024-06-01 $232,900 (-20.9%) $275,168 (-22.0%) 0.00 67
    2024-07-01 $261,813 (-6.3%) $285,544 (-19.3%) 0.00 62
    2024-08-01 $255,000 (-23.9%) $286,934 (-24.4%) 0.00 58
    2024-09-01 $252,700 (-21.0%) $293,319 (-17.5%) 0.00 62
    2024-10-01 $287,850 (-9.5%) $319,638 (-15.3%) 0.00 60
    Bainbridge's median listing price for 2024-10-01 was $287,850, a difference of $-30,275 (-9.5%) versus the prior year and $35,150 versus the prior month.

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

    Bainbridge's average listing price for 2024-10-01 was $319,638, a difference of $-57,756 (-15.3%) versus the prior year and $26,319 versus the prior month.

    For the 2024-10-01 period, Bainbridge had 60 MLS listings, a difference of -2 listings (-3%) versus the prior month and 10 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Bainbridge (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,966 sqft
    2018-02-01 0 days 1,949 sqft
    2018-03-01 0 days 1,880 sqft
    2018-04-01 0 days 1,931 sqft
    2018-05-01 0 days 1,936 sqft
    2018-06-01 0 days 2,000 sqft
    2018-07-01 0 days 2,089 sqft
    2018-08-01 0 days 2,039 sqft
    2018-09-01 0 days 1,994 sqft
    2018-10-01 0 days 1,964 sqft
    2018-11-01 0 days 1,981 sqft
    2018-12-01 0 days 1,977 sqft
    2019-01-01 0 days 1,961 sqft
    2019-02-01 0 days 2,000 sqft
    2019-03-01 0 days 2,020 sqft
    2019-04-01 0 days 2,081 sqft
    2019-05-01 0 days 2,195 sqft
    2019-06-01 0 days 2,188 sqft
    2019-07-01 0 days 2,000 sqft
    2019-08-01 0 days 2,086 sqft
    2019-09-01 0 days 2,214 sqft
    2019-10-01 0 days 2,236 sqft
    2019-11-01 0 days 2,134 sqft
    2019-12-01 0 days 2,107 sqft
    2020-01-01 0 days 2,257 sqft
    2020-02-01 0 days 2,326 sqft
    2020-03-01 0 days 2,057 sqft
    2020-04-01 0 days 2,040 sqft
    2020-05-01 0 days 2,031 sqft
    2020-06-01 0 days 2,049 sqft
    2020-07-01 0 days 2,000 sqft
    2020-08-01 0 days 2,252 sqft
    2020-09-01 0 days 2,239 sqft
    2020-10-01 0 days 2,263 sqft
    2020-11-01 0 days 2,397 sqft
    2020-12-01 0 days 2,373 sqft
    2021-01-01 0 days 2,376 sqft
    2021-02-01 0 days 2,239 sqft
    2021-03-01 0 days 2,150 sqft
    2021-04-01 0 days 1,952 sqft
    2021-05-01 0 days 1,855 sqft
    2021-06-01 0 days 1,806 sqft
    2021-07-01 0 days 1,873 sqft
    2021-08-01 0 days 1,958 sqft
    2021-09-01 0 days 2,295 sqft
    2021-10-01 0 days 1,994 sqft
    2021-11-01 0 days 2,222 sqft
    2021-12-01 0 days 2,155 sqft
    2022-01-01 0 days 2,183 sqft
    2022-02-01 0 days 2,166 sqft
    2022-03-01 0 days 1,891 sqft
    2022-04-01 0 days 2,048 sqft
    2022-05-01 0 days 2,060 sqft
    2022-06-01 0 days 1,929 sqft
    2022-07-01 0 days 2,128 sqft
    2022-08-01 0 days 2,189 sqft
    2022-09-01 0 days 2,188 sqft
    2022-10-01 0 days 2,128 sqft
    2022-11-01 0 days 1,965 sqft
    2022-12-01 0 days 1,892 sqft
    2023-01-01 0 days 1,883 sqft
    2023-02-01 0 days 1,907 sqft
    2023-03-01 0 days 1,955 sqft
    2023-04-01 0 days 1,806 sqft
    2023-05-01 0 days 2,016 sqft
    2023-06-01 0 days 2,164 sqft
    2023-07-01 0 days 2,012 sqft
    2023-08-01 0 days 2,136 sqft
    2023-09-01 0 days 2,374 sqft
    2023-10-01 0 days 2,282 sqft
    2023-11-01 0 days 2,327 sqft
    2023-12-01 0 days 2,182 sqft
    2024-01-01 0 days 1,995 sqft
    2024-02-01 0 days 2,003 sqft
    2024-03-01 0 days 1,921 sqft
    2024-04-01 0 days 1,809 sqft
    2024-05-01 0 days 1,626 sqft
    2024-06-01 0 days 1,652 sqft
    2024-07-01 0 days 1,841 sqft
    2024-08-01 0 days 1,725 sqft
    2024-09-01 0 days 1,733 sqft
    2024-10-01 0 days 1,917 sqft
    Bainbridge's median listing age (time on market) for 2024-10-01 was 0 days.

    Bainbridge's median square footage for active listings during the 2024-10-01 period was 1,917 sqft. One year prior, the average listing was 2,282 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).