Columbus FHA Loans

COLUMBUS, GA-AL

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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.

    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).