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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.