Columbus FHA Loans

COLUMBUS, GA-AL

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.

Columbus's 113 lenders originated 1,519 FHA loans during 2021. The total origination value was $308,975,000, with an average FHA loan value of $203,407.

Columbus FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Columbus averaged 5.07% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

The average rate for the prior week (2022-05-13) was 5.17% and one month ago for the week of 2022-04-15, the average rate was 4.96%.

The average rate one year ago was 3.13%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.01%.

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

Columbus FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Columbus level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 162 2.76% $5,700
Synovus Bank 106 2.92% $6,974
ENVOY MORTGAGE, LTD 87 3.01% $8,849
BROKER SOLUTIONS, INC. 76 3.26% $7,853
CMG MORTGAGE, INC. 60 3.05% $7,642
CROSSCOUNTRY MORTGAGE, LLC 57 3.22% $6,920
ARK-LA-TEX FINANCIAL SERVICES, LLC. 52 3.18% $4,589
PENNYMAC LOAN SERVICES, LLC 45 3.25% $3,783
FirstBank 44 2.86% $6,901
FREEDOM MORTGAGE CORPORATION 40 2.89% $4,824
INTERLINC MORTGAGE SERVICES, LLC 37 3.19% $4,695
PRIMARY RESIDENTIAL MORTGAGE, INC. 37 3.11% $7,404
GUILD MORTGAGE COMPANY 32 2.97% $6,748
HOMESTAR FINANCIAL CORPORATION 27 3.33% $6,266
LOANDEPOT.COM, LLC 26 3.27% $7,412
MOVEMENT MORTGAGE, LLC 26 3.16% $6,706
Mr. Cooper ( Nationstar Mortgage ) 26 3.29% $3,388
UNITED WHOLESALE MORTGAGE, LLC 26 2.97% $6,849
LAKEVIEW LOAN SERVICING, LLC 26 3.00% $4,510
VANDERBILT MORTGAGE AND FINANCE, INC. 25 2.94% $7,736
Renasant Bank 18 2.92% $6,249
AMERICAN FINANCIAL NETWORK, INC. 18 3.57% $11,790
CERTAINTY HOME LOANS, LLC 15 3.06% $8,026
NEWREZ LLC 15 3.06% $4,002
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 3.74% $6,195
CALIBER HOME LOANS, INC. 11 2.94% $4,970
HOME POINT FINANCIAL CORPORATION 11 2.89% $6,282
First Federal Bank 11 2.85% $5,979
NATIONS DIRECT MORTGAGE, LLC 10 3.23% $5,308
VILLAGE CAPITAL & INVESTMENT LLC 10 2.99% $2,097
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 3.07% $7,665
GUARANTY MORTGAGE SERVICES, L.L.C. 9 3.61% $8,915
Ameris Bank 9 3.22% $6,255
RUOFF MORTGAGE COMPANY, INC. 8 3.28% $3,956
AmeriHome Mortgage Company, LLC 8 2.92% $4,047
United Community Bank 7 3.30% $7,407
Lakeview Community Capital, LLC 7 3.12% $4,136
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 3.12% $6,724
OPEN MORTGAGE, LLC 6 3.00% $9,244
PLANET HOME LENDING, LLC 6 3.08% $6,008
Hometown Equity Mortgage, LLC 6 3.13% $8,565
Nations Lending Corporation 5 3.40% $7,624
AMERISAVE MORTGAGE CORPORATION 5 2.88% $8,614
Bank of England 5 3.38% $8,132
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 3.20% $7,548
ISERVE RESIDENTIAL LENDING, LLC 4 3.19% $10,277
HOMESIDE FINANCIAL, LLC 4 3.22% $7,428
Wells Fargo Bank 4 3.31% $5,609
KELLER MORTGAGE, LLC 3 2.96% $6,849
SOUTHERN TRUST MORTGAGE, LLC 3 3.42% $5,595
Colten Mortgage, LLC 3 3.75% $7,365
TJC Mortgage, Inc. 2 3.25% $5,996
EVERETT FINANCIAL, INC. 2 2.94% $6,002
Regions Bank 2 2.69% $7,745
Bank of America 2 2.69% $2,825
FIRST COMMUNITY MORTGAGE, INC. 2 2.81% $7,707
Flagstar Bank, FSB 2 2.75% $7,565
Carrington Mortgage Services, LLC 2 3.25% $6,209
Paramount Residential Mortgage Group, Inc. 2 3.12% $7,023
MORTGAGE INVESTORS GROUP, INC. 2 3.38% $7,469
AMERICAN FINANCING CORPORATION 2 2.56% $4,693
LOANPAL, LLC 2 2.88% $5,649
MORIA DEVELOPMENT, INC. 1 3.50% $6,261
ACOPIA, LLC 1 3.25% $6,492
AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $7,785
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 1 2.88% $11,236
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.75% $4,680
Amerifirst Financial, Inc. 1 3.25% $4,304
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 2.75% $5,531
BancorpSouth Bank 1 2.88% $4,718
BANKSOUTH MORTGAGE COMPANY, LLC 1 2.88% $7,424
BAYSHORE MORTGAGE FUNDING, LLC 1 3.50% $4,558
BETTER MORTGAGE CORPORATION 1 3.13% $4,920
CALCON MUTUAL MORTGAGE LLC 1 3.75% $11,023
Christensen Financial, Inc. 1 3.13% $9,959
Citizens Bank 1 2.75% $5,294
Colony Bank 1 3.25% $5,706
Commerce Home Mortgage, Inc. 1 3.13% $3,682
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 3.63% $6,365
EMBRACE HOME LOANS, INC. 1 3.25% $7,386
EMM LOANS LLC 1 2.88% $11,859
Equity Prime Mortgage LLC 1 3.75% $10,431
First Bank & Trust 1 2.49% $5,570
First Home Bank 1 2.88% $14,914
GENEVA FINANCIAL, LLC 1 3.50% $6,340
GMFS LLC 1 2.75% $5,763
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.00% $10,471
Hometown Lenders, Inc. 1 3.25% $5,557
LENDUS, LLC 1 3.25% $6,744
LIBERTY HOME MORTGAGE CORPORATION 1 2.50% $9,487
LOANLEADERS OF AMERICA, INC. 1 2.75% $11,697
Magnolia Bank 1 2.75% $5,118
Manufacturers and Traders Trust Company 1 3.25% $9,170
MID AMERICA MORTGAGE, INC. 1 4.25% $3,545
1ST SIGNATURE LENDING, LLC 1 3.25% $10,203
MUTUAL OF OMAHA MORTGAGE, INC. 1 3.00% $6,513
NATIONS RELIABLE LENDING, LLC 1 3.00% $7,929
NATIONWIDE MORTGAGE BANKERS, INC. 1 2.75% $10,688
Northpointe Bank 1 3.25% $6,530
ON Q FINANCIAL, INC. 1 3.50% $8,160
Paramount Bank 1 2.50% $6,334
Platinum Home Mortgage Corporation 1 3.00% $13,614
RELIANCE FIRST CAPITAL, LLC 1 3.38% $8,405
ROYAL UNITED MORTGAGE LLC 1 3.50% $6,096
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.75% $6,410
South State Bank 1 3.00% $12,365
Stifel Bank and Trust 1 2.75% $5,636
STOCKTON MORTGAGE CORPORATION 1 2.75% $5,353
SUMMIT FUNDING, INC. 1 3.63% $10,070
THE MORTGAGE FIRM, INC. 1 3.25% $6,723
UNION HOME MORTGAGE CORP. 1 3.25% $6,772
UNITED SECURITY FINANCIAL CORP 1 2.50% $4,248
VAN DYK MORTGAGE CORPORATION 1 3.50% $2,516

The top Columbus FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 162 FHA loans originated. Their average total fees are $5,700, which is $1,274 lower than the next largest lender, Synovus Bank.

The lowest fee Columbus FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($2,097), Mr. Cooper ( Nationstar Mortgage ) ($3,388), PENNYMAC LOAN SERVICES, LLC ($3,783), NEWREZ LLC ($4,002) and LAKEVIEW LOAN SERVICING, LLC ($4,510).

The lowest rate Columbus FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.76%), First Federal Bank (2.85%), FirstBank (2.86%), HOME POINT FINANCIAL CORPORATION (2.89%) and FREEDOM MORTGAGE CORPORATION (2.89%).

Columbus FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
COLUMBUS, GA-AL RUSSELL 2022 $420,680 $538,650 $651,050 $809,150
COLUMBUS, GA-AL CHATTAHOOCHEE 2022 $420,680 $538,650 $651,050 $809,150
COLUMBUS, GA-AL HARRIS 2022 $420,680 $538,650 $651,050 $809,150
COLUMBUS, GA-AL MARION 2022 $420,680 $538,650 $651,050 $809,150
COLUMBUS, GA-AL MUSCOGEE 2022 $420,680 $538,650 $651,050 $809,150
COLUMBUS, GA-AL STEWART 2022 $420,680 $538,650 $651,050 $809,150
COLUMBUS, GA-AL TALBOT 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Columbus (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 $161,495 (8.9%) $214,582 (12.5%) 0.59 1,634
2018-02-01 $162,450 (8.4%) $213,398 (10.4%) 0.59 1,635
2018-03-01 $164,900 (7.2%) $218,800 (12.1%) 0.57 1,651
2018-04-01 $167,990 (8.5%) $225,259 (14.7%) 0.56 1,684
2018-05-01 $169,900 (6.3%) $226,439 (13.1%) 0.57 1,700
2018-06-01 $166,990 (4.4%) $221,857 (9.5%) 0.56 1,734
2018-07-01 $164,510 (2.9%) $221,632 (8.2%) 0.55 1,750
2018-08-01 $165,945 (3.7%) $219,407 (5.9%) 0.55 1,742
2018-09-01 $168,000 (5.0%) $224,478 (5.7%) 0.56 1,717
2018-10-01 $169,450 (5.9%) $226,131 (7.4%) 0.57 1,714
2018-11-01 $168,423 (3.6%) $228,703 (7.6%) 0.56 1,728
2018-12-01 $167,715 (4.8%) $230,351 (8.1%) 0.57 1,734
2019-01-01 $167,853 (3.9%) $229,968 (7.2%) 0.58 1,622
2019-02-01 $169,900 (4.6%) $230,419 (8.0%) 0.57 1,602
2019-03-01 $172,043 (4.3%) $242,479 (10.8%) 0.56 1,500
2019-04-01 $174,543 (3.9%) $252,159 (11.9%) 0.55 1,417
2019-05-01 $169,900 (0.0%) $254,271 (12.3%) 0.52 1,366
2019-06-01 $179,900 (7.7%) $256,058 (15.4%) 0.55 1,343
2019-07-01 $182,155 (10.7%) $261,870 (18.2%) 0.57 1,285
2019-08-01 $186,471 (12.4%) $262,059 (19.4%) 0.59 1,230
2019-09-01 $189,471 (12.8%) $262,753 (17.1%) 0.60 1,186
2019-10-01 $197,900 (16.8%) $263,682 (16.6%) 0.63 1,199
2019-11-01 $199,900 (18.7%) $264,411 (15.6%) 0.65 1,182
2019-12-01 $197,390 (17.7%) $262,788 (14.1%) 0.66 1,132
2020-01-01 $189,950 (13.2%) $259,266 (12.7%) 0.63 1,071
2020-02-01 $197,000 (16.0%) $264,648 (14.9%) 0.64 1,012
2020-03-01 $192,900 (12.1%) $261,489 (7.8%) 0.60 943
2020-04-01 $189,950 (8.8%) $254,431 (0.9%) 0.59 942
2020-05-01 $207,000 (21.8%) $263,044 (3.5%) 0.63 840
2020-06-01 $225,000 (25.1%) $274,767 (7.3%) 0.66 767
2020-07-01 $219,700 (20.6%) $272,891 (4.2%) 0.63 682
2020-08-01 $219,900 (17.9%) $276,609 (5.6%) 0.63 622
2020-09-01 $214,750 (13.3%) $298,002 (13.4%) 0.61 547
2020-10-01 $210,800 (6.5%) $298,088 (13.1%) 0.60 568
2020-11-01 $201,379 (0.7%) $282,608 (6.9%) 0.58 586
2020-12-01 $192,400 (-2.5%) $287,163 (9.3%) 0.56 569
2021-01-01 $198,900 (4.7%) $293,194 (13.1%) 0.59 523
2021-02-01 $195,750 (-0.6%) $283,774 (7.2%) 0.56 482
2021-03-01 $186,750 (-3.2%) $283,072 (8.3%) 0.52 443
2021-04-01 $192,500 (1.3%) $293,917 (15.5%) 0.52 416
2021-05-01 $189,999 (-8.2%) $297,699 (13.2%) 0.50 410
2021-06-01 $185,000 (-17.8%) $285,457 (3.9%) 0.48 440
2021-07-01 $187,450 (-14.7%) $289,566 (6.1%) 0.49 531
2021-08-01 $191,500 (-12.9%) $302,686 (9.4%) 0.50 563
2021-09-01 $195,000 (-9.2%) $319,666 (7.3%) 0.51 595
2021-10-01 $189,900 (-9.9%) $309,275 (3.8%) 0.50 601
2021-11-01 $188,900 (-6.2%) $303,907 (7.5%) 0.50 616
2021-12-01 $189,950 (-1.3%) $316,736 (10.3%) 0.51 504
2022-01-01 $194,999 (-2.0%) $350,944 (19.7%) 0.52 414
2022-02-01 $199,900 (2.1%) $338,260 (19.2%) 0.51 389
2022-03-01 $194,250 (4.0%) $337,746 (19.3%) 0.48 370
2022-04-01 $186,000 (-3.4%) $296,112 (0.8%) 0.44 402
Columbus's median listing price for 2022-04-01 was $186,000, a difference of $-6,500 (-3.4%) versus the prior year and $-8,250 versus the prior month.

Columbus's median listing price comes in at 44% of the national average.

Columbus's average listing price for 2022-04-01 was $296,112, a difference of $2,195 (0.8%) versus the prior year and $-41,634 versus the prior month.

For the 2022-04-01 period, Columbus had 402 MLS listings, a difference of 32 listings (9%) versus the prior month and -14 listings (-3%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Columbus (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 103 days 1,957 sqft
2018-02-01 95 days 1,966 sqft
2018-03-01 85 days 1,974 sqft
2018-04-01 82 days 1,990 sqft
2018-05-01 80 days 2,007 sqft
2018-06-01 78 days 1,977 sqft
2018-07-01 81 days 1,946 sqft
2018-08-01 86 days 1,955 sqft
2018-09-01 93 days 1,973 sqft
2018-10-01 94 days 2,002 sqft
2018-11-01 98 days 2,007 sqft
2018-12-01 109 days 1,960 sqft
2019-01-01 117 days 1,950 sqft
2019-02-01 115 days 1,967 sqft
2019-03-01 107 days 2,013 sqft
2019-04-01 91 days 2,020 sqft
2019-05-01 87 days 2,017 sqft
2019-06-01 79 days 2,100 sqft
2019-07-01 78 days 2,118 sqft
2019-08-01 75 days 2,154 sqft
2019-09-01 77 days 2,181 sqft
2019-10-01 78 days 2,173 sqft
2019-11-01 74 days 2,203 sqft
2019-12-01 80 days 2,175 sqft
2020-01-01 88 days 2,130 sqft
2020-02-01 86 days 2,155 sqft
2020-03-01 81 days 2,112 sqft
2020-04-01 75 days 2,068 sqft
2020-05-01 79 days 2,144 sqft
2020-06-01 67 days 2,198 sqft
2020-07-01 52 days 2,153 sqft
2020-08-01 51 days 2,114 sqft
2020-09-01 48 days 2,120 sqft
2020-10-01 46 days 2,044 sqft
2020-11-01 45 days 1,967 sqft
2020-12-01 50 days 1,971 sqft
2021-01-01 57 days 2,002 sqft
2021-02-01 40 days 1,941 sqft
2021-03-01 38 days 1,909 sqft
2021-04-01 36 days 1,898 sqft
2021-05-01 24 days 1,872 sqft
2021-06-01 26 days 1,838 sqft
2021-07-01 30 days 1,827 sqft
2021-08-01 39 days 1,833 sqft
2021-09-01 41 days 1,824 sqft
2021-10-01 42 days 1,848 sqft
2021-11-01 48 days 1,851 sqft
2021-12-01 56 days 1,930 sqft
2022-01-01 63 days 1,934 sqft
2022-02-01 43 days 1,901 sqft
2022-03-01 33 days 1,853 sqft
2022-04-01 28 days 1,840 sqft
Columbus's median listing age (time on market) for 2022-04-01 was 28 days. This is -21% shorter than the same period one year ago.

Columbus's median square footage for active listings during the 2022-04-01 period was 1,840 sqft. One year prior, the average listing was 1,898 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).