Cedartown FHA Loan Rates, Closing Costs & Stats

Cedartown, 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.

    Cedartown's 63 lenders originated 213 FHA loans during 2023. The total origination value was $46,935,000, with an average FHA loan value of $220,352.

    Cedartown FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Cedartown averaged 6.27% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Cedartown's average FHA mortgage closing costs are $7,020.

    The average rate for the prior week (2024-12-06) was 6.54% and one month ago for the week of 2024-11-08, the average rate was 6.51%.

    The average rate one year ago was 7.12%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

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

    Cedartown 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 Cedartown level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 22 6.96% $8,933
    QUICKEN LOANS, LLC 18 6.03% $9,050
    HOMESTAR FINANCIAL CORPORATION 15 6.88% $8,578
    UNITED WHOLESALE MORTGAGE, LLC 13 6.72% $9,986
    CROSSCOUNTRY MORTGAGE, LLC 9 6.53% $11,904
    MOVEMENT MORTGAGE, LLC 8 6.98% $10,382
    BROKER SOLUTIONS, INC. 6 6.40% $9,874
    EVERETT FINANCIAL, INC. 6 7.21% $11,306
    GUARANTEED RATE, INC. 5 5.93% $9,160
    Flagstar Bank, FSB 4 6.52% $8,690
    SWBC MORTGAGE CORPORATION 4 6.78% $4,421
    SECURITYNATIONAL MORTGAGE COMPANY 4 6.72% $9,403
    Renasant Bank 4 6.75% $10,660
    FREEDOM MORTGAGE CORPORATION 4 6.91% $11,673
    Colony Bank 3 7.54% $8,319
    PENNYMAC LOAN SERVICES, LLC 3 6.33% $14,555
    CARDINAL FINANCIAL 3 6.54% $9,910
    Hometown Equity Mortgage, LLC 3 6.92% $13,512
    AMERISAVE MORTGAGE CORPORATION 3 6.29% $13,335
    VANDERBILT MORTGAGE AND FINANCE, INC. 3 6.21% $9,695
    MORTGAGE INVESTORS GROUP, INC. 3 6.71% $10,056
    ACOPIA, LLC 3 6.96% $9,614
    ZILLOW HOME LOANS, LLC 2 6.56% $13,586
    AMERICAN FINANCIAL NETWORK, INC. 2 7.56% $13,985
    CONTOUR MORTGAGE CORPORATION 2 7.69% $11,780
    FirstBank 2 7.56% $12,164
    FIRST COMMUNITY MORTGAGE, INC. 2 6.06% $9,648
    Goldwater Bank, N.A. 2 6.69% $10,251
    LAKEVIEW LOAN SERVICING, LLC 2 6.50% $11,260
    LOANDEPOT.COM, LLC 2 6.06% $10,119
    Nations Lending Corporation 2 6.75% $6,851
    PLANET HOME LENDING, LLC 2 5.44% $8,780
    Regions Bank 2 6.25% $8,554
    STOCKTON MORTGAGE CORPORATION 2 7.38% $8,860
    TOWNE MORTGAGE COMPANY 2 7.94% $13,735
    MEMBER FIRST MORTGAGE, LLC 1 6.25% $8,545
    MILEND, INC. 1 7.38% $14,163
    GUARANTEED RATE AFFINITY, LLC 1 6.75% $10,899
    Mortgage Research Center, LLC 1 7.25% $9,406
    First Option Mortgage, LLC 1 7.13% $14,486
    Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $12,514
    NATIONS DIRECT MORTGAGE, LLC 1 6.50% $9,525
    Bank of England 1 6.25% $10,075
    DAS Acquisition Company, LLC 1 6.50% $11,112
    Ameris Bank 1 6.25% $12,265
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $12,448
    Prosperity Home Mortgage, LLC 1 7.12% $9,650
    Century Mortgage Company DBA Century Lending Company 1 7.25% $14,910
    VILLAGE CAPITAL MORTGAGE 1 6.38% $3,196
    Carrington Mortgage Services, LLC 1 5.63% $12,769
    Capital City Home Loans, LLC 1 6.75% $6,483
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.75% $5,974
    Wells Fargo Bank 1 6.25% $8,867
    CANOPY MORTGAGE, LLC 1 7.00% $18,737
    TOP FLITE FINANCIAL, INC. 1 6.50% $10,395
    AMERICAN FINANCING CORPORATION 1 7.13% $5,610
    HOMESIDE FINANCIAL, LLC 1 5.75% $8,791
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.63% $12,940
    Truist 1 6.25% $6,591
    UNION HOME MORTGAGE CORP. 1 7.00% $5,674
    LOANPAL, LLC 1 6.99% $7,777
    Loan Simple, Inc. 1 5.25% $17,153
    Magnolia Bank 1 7.00% $13,038

    The top Cedartown FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 22 FHA loans originated. Their average total fees are $8,933, which is $118 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Cedartown FHA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($8,578), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,933), QUICKEN LOANS, LLC ($9,050), UNITED WHOLESALE MORTGAGE, LLC ($9,986) and .

    The lowest rate Cedartown FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.03%), UNITED WHOLESALE MORTGAGE, LLC (6.72%), HOMESTAR FINANCIAL CORPORATION (6.88%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.96%) and .

    Cedartown FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Cedartown (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 $146,175 (12.8%) $182,011 (2.6%) 0.00 132
    2018-02-01 $144,225 (8.9%) $179,949 (-6.2%) 0.00 130
    2018-03-01 $149,000 (14.6%) $197,781 (6.2%) 0.00 127
    2018-04-01 $169,900 (21.5%) $290,756 (55.0%) 0.00 113
    2018-05-01 $185,887 (24.0%) $296,363 (51.3%) 0.00 122
    2018-06-01 $175,900 (19.4%) $297,132 (58.9%) 0.00 133
    2018-07-01 $181,738 (29.9%) $313,781 (72.9%) 0.00 125
    2018-08-01 $177,908 (36.9%) $309,551 (86.5%) 0.00 136
    2018-09-01 $174,500 (29.4%) $301,174 (72.0%) 0.00 139
    2018-10-01 $152,100 (1.8%) $259,381 (32.7%) 0.00 181
    2018-11-01 $147,450 (-0.7%) $264,992 (37.1%) 0.00 170
    2018-12-01 $147,400 (1.0%) $267,741 (42.1%) 0.00 153
    2019-01-01 $139,900 (-4.3%) $267,206 (46.8%) 0.00 150
    2019-02-01 $159,925 (10.9%) $311,346 (73.0%) 0.00 123
    2019-03-01 $148,329 (-0.5%) $301,116 (52.3%) 0.00 125
    2019-04-01 $133,900 (-21.2%) $270,615 (-6.9%) 0.00 128
    2019-05-01 $134,425 (-27.7%) $252,505 (-14.8%) 0.00 147
    2019-06-01 $132,250 (-24.8%) $245,802 (-17.3%) 0.00 141
    2019-07-01 $143,000 (-21.3%) $250,416 (-20.2%) 0.00 148
    2019-08-01 $139,759 (-21.4%) $254,521 (-17.8%) 0.00 149
    2019-09-01 $146,898 (-15.8%) $257,478 (-14.5%) 0.00 146
    2019-10-01 $168,675 (10.9%) $293,521 (13.2%) 0.00 130
    2019-11-01 $187,700 (27.3%) $311,865 (17.7%) 0.00 119
    2019-12-01 $191,775 (30.1%) $305,890 (14.3%) 0.00 124
    2020-01-01 $193,330 (38.2%) $313,228 (17.2%) 0.00 116
    2020-02-01 $186,815 (16.8%) $319,289 (2.6%) 0.00 105
    2020-03-01 $174,900 (17.9%) $306,452 (1.8%) 0.00 100
    2020-04-01 $169,900 (26.9%) $300,286 (11.0%) 0.00 92
    2020-05-01 $179,900 (33.8%) $330,796 (31.0%) 0.00 67
    2020-06-01 $192,200 (45.3%) $347,707 (41.5%) 0.00 66
    2020-07-01 $194,250 (35.8%) $369,739 (47.7%) 0.00 53
    2020-08-01 $189,900 (35.9%) $353,335 (38.8%) 0.00 54
    2020-09-01 $223,662 (52.3%) $416,662 (61.8%) 0.00 51
    2020-10-01 $219,950 (30.4%) $387,090 (31.9%) 0.00 63
    2020-11-01 $197,400 (5.2%) $363,255 (16.5%) 0.00 73
    2020-12-01 $199,950 (4.3%) $377,107 (23.3%) 0.00 70
    2021-01-01 $215,000 (11.2%) $397,001 (26.8%) 0.00 63
    2021-02-01 $259,900 (39.1%) $415,424 (30.1%) 0.00 53
    2021-03-01 $246,175 (40.8%) $433,808 (41.6%) 0.00 40
    2021-04-01 $199,500 (17.4%) $447,128 (48.9%) 0.00 44
    2021-05-01 $214,900 (19.5%) $482,804 (46.0%) 0.00 48
    2021-06-01 $209,925 (9.2%) $458,666 (31.9%) 0.00 54
    2021-07-01 $217,500 (12.0%) $517,804 (40.1%) 0.00 51
    2021-08-01 $216,225 (13.9%) $511,380 (44.7%) 0.00 60
    2021-09-01 $205,550 (-8.1%) $474,156 (13.8%) 0.00 62
    2021-10-01 $222,994 (1.4%) $471,777 (21.9%) 0.00 62
    2021-11-01 $224,925 (13.9%) $454,616 (25.2%) 0.00 64
    2021-12-01 $228,650 (14.4%) $437,833 (16.1%) 0.00 70
    2022-01-01 $269,900 (25.5%) $374,072 (-5.8%) 0.00 62
    2022-02-01 $262,450 (1.0%) $369,202 (-11.1%) 0.00 49
    2022-03-01 $279,725 (13.6%) $360,819 (-16.8%) 0.00 51
    2022-04-01 $277,675 (39.2%) $372,134 (-16.8%) 0.00 47
    2022-05-01 $289,675 (34.8%) $370,195 (-23.3%) 0.00 54
    2022-06-01 $285,875 (36.2%) $364,718 (-20.5%) 0.00 78
    2022-07-01 $280,000 (28.7%) $379,336 (-26.7%) 0.00 86
    2022-08-01 $289,675 (34.0%) $356,942 (-30.2%) 0.00 101
    2022-09-01 $277,225 (34.9%) $351,625 (-25.8%) 0.00 103
    2022-10-01 $269,000 (20.6%) $336,716 (-28.6%) 0.00 103
    2022-11-01 $274,850 (22.2%) $358,771 (-21.1%) 0.00 101
    2022-12-01 $271,750 (18.9%) $358,289 (-18.2%) 0.00 93
    2023-01-01 $274,950 (1.9%) $370,756 (-0.9%) 0.00 87
    2023-02-01 $259,927 (-1.0%) $360,339 (-2.4%) 0.00 72
    2023-03-01 $259,988 (-7.1%) $354,072 (-1.9%) 0.00 69
    2023-04-01 $299,900 (8.0%) $471,430 (26.7%) 0.00 85
    2023-05-01 $299,950 (3.6%) $497,305 (34.3%) 0.00 77
    2023-06-01 $318,575 (11.4%) $491,279 (34.7%) 0.00 84
    2023-07-01 $309,450 (10.5%) $458,719 (20.9%) 0.00 95
    2023-08-01 $297,000 (2.5%) $394,323 (10.5%) 0.00 96
    2023-09-01 $299,999 (8.2%) $442,784 (25.9%) 0.00 93
    2023-10-01 $319,950 (18.9%) $426,540 (26.7%) 0.00 117
    2023-11-01 $315,000 (14.6%) $424,396 (18.3%) 0.00 120
    2023-12-01 $319,950 (17.7%) $427,517 (19.3%) 0.00 118
    2024-01-01 $308,975 (12.4%) $425,545 (14.8%) 0.00 110
    2024-02-01 $302,250 (16.3%) $353,440 (-1.9%) 0.00 98
    2024-03-01 $299,500 (15.2%) $356,948 (0.8%) 0.00 91
    2024-04-01 $309,500 (3.2%) $364,209 (-22.7%) 0.00 103
    2024-05-01 $309,475 (3.2%) $376,782 (-24.2%) 0.00 115
    2024-06-01 $299,900 (-5.9%) $362,874 (-26.1%) 0.00 106
    2024-07-01 $279,325 (-9.7%) $332,388 (-27.5%) 0.00 112
    2024-08-01 $279,900 (-5.8%) $332,361 (-15.7%) 0.00 130
    2024-09-01 $282,450 (-5.9%) $328,700 (-25.8%) 0.00 154
    2024-10-01 $285,450 (-10.8%) $327,342 (-23.3%) 0.00 153
    2024-11-01 $285,000 (-9.5%) $333,758 (-21.4%) 0.00 166
    Cedartown's median listing price for 2024-11-01 was $285,000, a difference of $-30,000 (-9.5%) versus the prior year and $-450 versus the prior month.

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

    Cedartown's average listing price for 2024-11-01 was $333,758, a difference of $-90,638 (-21.4%) versus the prior year and $6,416 versus the prior month.

    For the 2024-11-01 period, Cedartown had 166 MLS listings, a difference of 13 listings (8%) versus the prior month and 46 listings (38%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Cedartown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,797 sqft
    2018-02-01 0 days 1,801 sqft
    2018-03-01 0 days 1,781 sqft
    2018-04-01 0 days 1,752 sqft
    2018-05-01 0 days 1,897 sqft
    2018-06-01 0 days 1,922 sqft
    2018-07-01 0 days 1,939 sqft
    2018-08-01 0 days 1,899 sqft
    2018-09-01 0 days 1,798 sqft
    2018-10-01 0 days 1,734 sqft
    2018-11-01 0 days 1,702 sqft
    2018-12-01 0 days 1,692 sqft
    2019-01-01 0 days 1,792 sqft
    2019-02-01 0 days 1,814 sqft
    2019-03-01 0 days 1,808 sqft
    2019-04-01 0 days 1,802 sqft
    2019-05-01 0 days 1,822 sqft
    2019-06-01 0 days 1,824 sqft
    2019-07-01 0 days 1,900 sqft
    2019-08-01 0 days 1,870 sqft
    2019-09-01 0 days 1,826 sqft
    2019-10-01 0 days 1,840 sqft
    2019-11-01 0 days 2,064 sqft
    2019-12-01 0 days 1,928 sqft
    2020-01-01 0 days 1,918 sqft
    2020-02-01 0 days 1,923 sqft
    2020-03-01 0 days 1,915 sqft
    2020-04-01 0 days 1,912 sqft
    2020-05-01 0 days 1,914 sqft
    2020-06-01 0 days 2,058 sqft
    2020-07-01 0 days 2,326 sqft
    2020-08-01 0 days 2,199 sqft
    2020-09-01 0 days 2,040 sqft
    2020-10-01 0 days 2,160 sqft
    2020-11-01 0 days 1,962 sqft
    2020-12-01 0 days 1,998 sqft
    2021-01-01 0 days 1,901 sqft
    2021-02-01 0 days 1,952 sqft
    2021-03-01 0 days 1,934 sqft
    2021-04-01 0 days 1,854 sqft
    2021-05-01 0 days 1,783 sqft
    2021-06-01 0 days 1,523 sqft
    2021-07-01 0 days 1,843 sqft
    2021-08-01 0 days 1,775 sqft
    2021-09-01 0 days 1,685 sqft
    2021-10-01 0 days 1,710 sqft
    2021-11-01 0 days 1,750 sqft
    2021-12-01 0 days 1,797 sqft
    2022-01-01 0 days 1,867 sqft
    2022-02-01 0 days 1,809 sqft
    2022-03-01 0 days 1,810 sqft
    2022-04-01 0 days 1,776 sqft
    2022-05-01 0 days 1,761 sqft
    2022-06-01 0 days 1,773 sqft
    2022-07-01 0 days 1,746 sqft
    2022-08-01 0 days 1,744 sqft
    2022-09-01 0 days 1,739 sqft
    2022-10-01 0 days 1,731 sqft
    2022-11-01 0 days 1,708 sqft
    2022-12-01 0 days 1,794 sqft
    2023-01-01 0 days 1,842 sqft
    2023-02-01 0 days 1,736 sqft
    2023-03-01 0 days 1,618 sqft
    2023-04-01 0 days 1,731 sqft
    2023-05-01 0 days 1,739 sqft
    2023-06-01 0 days 1,764 sqft
    2023-07-01 0 days 1,778 sqft
    2023-08-01 0 days 1,743 sqft
    2023-09-01 0 days 1,820 sqft
    2023-10-01 0 days 1,825 sqft
    2023-11-01 0 days 1,792 sqft
    2023-12-01 0 days 1,778 sqft
    2024-01-01 0 days 1,761 sqft
    2024-02-01 0 days 1,775 sqft
    2024-03-01 0 days 1,750 sqft
    2024-04-01 0 days 1,771 sqft
    2024-05-01 0 days 1,775 sqft
    2024-06-01 0 days 1,774 sqft
    2024-07-01 0 days 1,775 sqft
    2024-08-01 0 days 1,753 sqft
    2024-09-01 0 days 1,691 sqft
    2024-10-01 0 days 1,703 sqft
    2024-11-01 0 days 1,600 sqft
    Cedartown's median listing age (time on market) for 2024-11-01 was 0 days.

    Cedartown's median square footage for active listings during the 2024-11-01 period was 1,600 sqft. One year prior, the average listing was 1,792 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).