Brunswick FHA Loan Rates, Closing Costs & Stats

BRUNSWICK, 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.

    Brunswick's 64 lenders originated 357 FHA loans during 2023. The total origination value was $79,175,000, with an average FHA loan value of $221,779.

    Brunswick FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Brunswick averaged 6.3% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Brunswick's average FHA mortgage closing costs are $7,576.

    The average rate for the prior week (2024-11-01) was 6.17% and one month ago for the week of 2024-10-04, the average rate was 5.79%.

    The average rate one year ago was 7.23%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.51%.

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

    Brunswick 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 Brunswick level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 82 6.30% $10,804
    UNITED WHOLESALE MORTGAGE, LLC 24 6.24% $10,330
    HOMESTAR FINANCIAL CORPORATION 18 6.51% $8,822
    AMERICAN FINANCIAL NETWORK, INC. 16 7.01% $8,946
    CMG MORTGAGE, INC. 14 6.70% $11,055
    LOANDEPOT.COM, LLC 11 6.76% $9,370
    BROKER SOLUTIONS, INC. 10 6.41% $11,351
    HOMEBRIDGE FINANCIAL SERVICES, INC. 10 6.15% $11,854
    TOWNE MORTGAGE COMPANY 8 6.23% $10,696
    PENNYMAC LOAN SERVICES, LLC 8 6.28% $10,594
    CALIBER HOME LOANS, INC. 7 6.57% $9,653
    BAY EQUITY LLC 6 6.96% $14,616
    Century Mortgage Company DBA Century Lending Company 6 6.44% $9,468
    United Community Bank 5 6.35% $9,124
    FREEDOM MORTGAGE CORPORATION 5 6.93% $12,854
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.62% $7,960
    Paramount Residential Mortgage Group, Inc. 5 6.80% $8,690
    THRIVE MORTGAGE, LLC 4 6.50% $10,518
    GUARANTEED RATE, INC. 4 6.75% $10,729
    Capital City Home Loans, LLC 4 6.16% $16,717
    CARDINAL FINANCIAL 4 6.13% $11,303
    Plains Commerce Bank 3 7.00% $10,048
    INTERCOASTAL MORTGAGE COMPANY 3 6.33% $10,802
    PLANET HOME LENDING, LLC 3 7.25% $14,316
    MOVEMENT MORTGAGE, LLC 3 6.21% $12,588
    Mortgage Research Center, LLC 3 6.83% $4,013
    NATIONS DIRECT MORTGAGE, LLC 3 7.67% $10,496
    AMERISAVE MORTGAGE CORPORATION 3 6.08% $9,585
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 7.06% $9,108
    PREMIA MORTGAGE, LLC 2 7.00% $4,934
    Ameris Bank 2 6.81% $11,637
    Platinum Home Mortgage Corporation 2 7.00% $8,377
    Mr. Cooper ( Nationstar Mortgage ) 2 6.00% $17,279
    NEWREZ LLC 2 6.75% $10,888
    GUILD MORTGAGE COMPANY 2 6.81% $9,623
    INSPIRE HOME LOANS INC. 2 6.06% $8,805
    Carrington Mortgage Services, LLC 2 6.38% $6,882
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $15,348
    ACOPIA, LLC 1 7.13% $8,664
    AMERICAN FINANCING CORPORATION 1 6.13% $13,791
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $10,180
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 5.75% $15,928
    Citizens Bank 1 6.63% $11,506
    Colony Bank 1 6.75% $7,315
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.13% $12,659
    EMM LOANS LLC 1 6.50% $7,878
    Equity Prime Mortgage LLC 1 6.50% $16,928
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 7.50% $13,057
    GUARANTY HOME MORTGAGE CORPORATION 1 6.25% $5,959
    LAKEVIEW LOAN SERVICING, LLC 1 5.75% $16,188
    LIBERTY HOME MORTGAGE CORPORATION 1 6.75% $19,119
    LOANPAL, LLC 1 5.25% $10,918
    MID AMERICA MORTGAGE, INC. 1 6.50% $3,200
    1ST SIGNATURE LENDING, LLC 1 6.13% $14,779
    Presidential Bank, FSB 1 6.25% $14,484
    Prosperity Home Mortgage, LLC 1 5.75% $12,890
    Renasant Bank 1 6.25% $13,831
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 7.13% $10,728
    Synovus Bank 1 7.25% $8,530
    TOP FLITE FINANCIAL, INC. 1 6.75% $11,012
    Truist 1 5.25% $7,248
    VILLAGE CAPITAL MORTGAGE 1 6.00% $13,241
    Wells Fargo Bank 1 7.13% $7,562
    ZILLOW HOME LOANS, LLC 1 5.63% $11,040

    The top Brunswick FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 82 FHA loans originated. Their average total fees are $10,804, which is $474 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Brunswick FHA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($8,822), AMERICAN FINANCIAL NETWORK, INC. ($8,946), LOANDEPOT.COM, LLC ($9,370), UNITED WHOLESALE MORTGAGE, LLC ($10,330) and QUICKEN LOANS, LLC ($10,804).

    The lowest rate Brunswick FHA lenders (with over 10 loans originated) are HOMEBRIDGE FINANCIAL SERVICES, INC. (6.15%), UNITED WHOLESALE MORTGAGE, LLC (6.24%), QUICKEN LOANS, LLC (6.30%), BROKER SOLUTIONS, INC. (6.41%) and HOMESTAR FINANCIAL CORPORATION (6.51%).

    Brunswick FHA Loan Limits

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

    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).