Dalton FHA Loans

DALTON, GA

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.

Dalton's 96 lenders originated 801 FHA loans during 2021. The total origination value was $137,025,000, with an average FHA loan value of $171,067.

Dalton FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Dalton averaged 5.41% 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 5.12% and one month ago for the week of 2022-04-15, the average rate was 5.01%.

The average rate one year ago was 3.08%.

For refis of the same type during the week of 2022-05-20, the average rate was 5.14%.

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

Dalton 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 Dalton level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
QUICKEN LOANS, LLC 89 2.73% $5,977
STOCKTON MORTGAGE CORPORATION 55 3.30% $8,031
HOMESTAR FINANCIAL CORPORATION 53 3.16% $4,802
BROKER SOLUTIONS, INC. 47 3.20% $6,476
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 42 3.27% $7,043
MOVEMENT MORTGAGE, LLC 39 3.06% $6,905
PRIMELENDING, A PLAINSCAPITAL COMPANY 27 3.06% $7,237
FirstBank 26 2.95% $6,410
Regions Bank 17 2.95% $6,583
PENNYMAC LOAN SERVICES, LLC 14 3.21% $4,733
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 14 3.14% $6,963
INSPIRE HOME LOANS INC. 13 3.29% $6,968
GUILD MORTGAGE COMPANY 13 2.94% $6,933
CALIBER HOME LOANS, INC. 13 3.20% $6,396
South State Bank 12 2.95% $5,763
DAS Acquisition Company, LLC 12 3.58% $7,359
FREEDOM MORTGAGE CORPORATION 12 3.02% $4,780
SUCCESS MORTGAGE PARTNERS, INC. 10 2.79% $7,367
Mr. Cooper ( Nationstar Mortgage ) 10 3.34% $3,488
TJC Mortgage, Inc. 9 3.15% $7,805
BANKSOUTH MORTGAGE COMPANY, LLC 8 2.77% $7,856
BancorpSouth Bank 7 2.84% $6,420
LAKEVIEW LOAN SERVICING, LLC 7 3.28% $3,898
NEWREZ LLC 7 2.87% $3,820
CERTAINTY HOME LOANS, LLC 6 3.50% $7,370
LOANDEPOT.COM, LLC 6 3.71% $5,507
ISERVE RESIDENTIAL LENDING, LLC 6 3.15% $10,770
PANORAMA MORTGAGE GROUP, LLC 5 4.08% $8,810
Nations Lending Corporation 5 3.43% $7,180
First Option Mortgage, LLC 5 2.90% $7,276
Renasant Bank 5 3.15% $7,609
Citizens Bank 5 2.73% $7,107
SUMMIT FUNDING, INC. 5 3.50% $7,101
AMERISAVE MORTGAGE CORPORATION 5 2.90% $7,686
VANDERBILT MORTGAGE AND FINANCE, INC. 4 3.31% $6,485
CMG MORTGAGE, INC. 4 3.63% $8,356
HOME POINT FINANCIAL CORPORATION 4 2.94% $5,357
AMERICAN FINANCIAL NETWORK, INC. 4 3.41% $11,866
UNITED WHOLESALE MORTGAGE, LLC 4 2.77% $7,090
Lakeview Community Capital, LLC 3 3.12% $3,614
Synovus Bank 3 2.46% $8,404
STEARNS LENDING, LLC 3 2.79% $7,608
SOUTHPOINT FINANCIAL SERVICES, INC. 3 3.00% $5,684
Ameris Bank 3 2.58% $6,079
MORTGAGE INVESTORS GROUP, INC. 3 3.21% $8,958
PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.79% $7,623
Truist Bank 3 2.80% $8,631
Equity Prime Mortgage LLC 2 3.06% $5,398
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.38% $7,406
MEMBER FIRST MORTGAGE, LLC 2 3.19% $5,936
COMMUNITY MORTGAGE CORPORATION 2 2.75% $7,504
THE MORTGAGE FIRM, INC. 2 3.00% $6,015
VAN DYK MORTGAGE CORPORATION 2 3.13% $7,765
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 3.00% $8,675
ACOPIA, LLC 2 3.75% $8,321
AMERICAN FINANCIAL RESOURCES, INC. 2 3.75% $5,825
TOWNE MORTGAGE COMPANY 2 3.19% $6,690
VILLAGE CAPITAL & INVESTMENT LLC 2 3.00% $2,153
US MORTGAGE CORPORATION 2 3.69% $8,885
ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.38% $5,033
Carrington Mortgage Services, LLC 2 2.94% $6,764
FIRST COMMUNITY MORTGAGE, INC. 2 3.25% $6,098
Prosperity Home Mortgage, LLC 2 2.81% $6,517
LEADERONE FINANCIAL CORPORATION 2 3.38% $6,931
ZILLOW HOME LOANS, LLC 1 2.75% $8,713
AmeriHome Mortgage Company, LLC 1 3.13% $6,129
Bank of America 1 2.63% $2,533
Capital City Home Loans, LLC 1 3.25% $7,627
Christensen Financial, Inc. 1 3.25% $8,881
CHURCHILL MORTGAGE CORPORATION 1 3.00% $6,304
Commerce Home Mortgage, Inc. 1 2.75% $4,781
CRESCENT MORTGAGE COMPANY 1 2.75% $7,870
CROSSCOUNTRY MORTGAGE, LLC 1 2.25% $10,120
Encompass Lending Group, LP 1 3.25% $8,085
GENEVA FINANCIAL, LLC 1 3.25% $6,251
GUARANTEED RATE AFFINITY, LLC 1 3.63% $6,191
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.88% $9,045
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 3.00% $7,589
Ixonia Bank 1 3.75% $7,640
KELLER MORTGAGE, LLC 1 2.38% $4,932
Magnolia Bank 1 3.00% $8,031
MID AMERICA MORTGAGE, INC. 1 2.38% $888
MLD MORTGAGE INC. 1 3.25% $6,877
MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $6,599
Northpointe Bank 1 2.63% $6,546
OCEANSIDE MORTGAGE COMPANY 1 2.88% $2,449
POLARIS HOME FUNDING CORP. 1 3.25% $9,067
Reliant Bank 1 2.50% $4,423
SIRVA MORTGAGE, INC. 1 3.63% $4,555
SmartBank 1 2.63% $7,059
SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 3.25% $9,676
T2 FINANCIAL LLC 1 2.38% $8,067
UNITED SECURITY FINANCIAL CORP 1 2.88% $4,126
UNIVERSAL MORTGAGE & FINANCE, INC. 1 3.05% $11,707
Wells Fargo Bank 1 3.00% $3,421
Wolfe Financial, Inc 1 2.88% $6,327

The top Dalton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 89 FHA loans originated. Their average total fees are $5,977, which is $2,055 lower than the next largest lender, STOCKTON MORTGAGE CORPORATION.

The lowest fee Dalton FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($3,488), PENNYMAC LOAN SERVICES, LLC ($4,733), FREEDOM MORTGAGE CORPORATION ($4,780), HOMESTAR FINANCIAL CORPORATION ($4,802) and South State Bank ($5,763).

The lowest rate Dalton FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.73%), SUCCESS MORTGAGE PARTNERS, INC. (2.79%), GUILD MORTGAGE COMPANY (2.94%), FirstBank (2.95%) and South State Bank (2.95%).

Dalton FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
DALTON, GA MURRAY 2022 $420,680 $538,650 $651,050 $809,150
DALTON, GA WHITFIELD 2022 $420,680 $538,650 $651,050 $809,150

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Dalton (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 $173,750 (4.0%) $250,244 (7.0%) 0.00 395
2018-02-01 $179,700 (6.7%) $251,813 (9.9%) 0.00 396
2018-03-01 $179,900 (7.4%) $256,174 (18.2%) 0.00 396
2018-04-01 $188,650 (8.5%) $267,562 (19.5%) 0.00 394
2018-05-01 $189,950 (8.6%) $269,351 (13.5%) 0.00 360
2018-06-01 $189,900 (7.3%) $263,383 (9.0%) 0.00 383
2018-07-01 $187,000 (-1.1%) $260,061 (4.0%) 0.00 414
2018-08-01 $186,500 (2.3%) $263,608 (7.0%) 0.00 401
2018-09-01 $185,000 (8.8%) $265,114 (9.4%) 0.00 426
2018-10-01 $189,900 (12.4%) $262,154 (10.1%) 0.00 424
2018-11-01 $189,950 (11.8%) $265,209 (10.0%) 0.00 410
2018-12-01 $185,000 (8.8%) $257,525 (6.2%) 0.00 405
2019-01-01 $185,950 (7.0%) $249,917 (-0.1%) 0.00 383
2019-02-01 $184,900 (2.9%) $251,206 (-0.2%) 0.00 368
2019-03-01 $190,800 (6.1%) $253,397 (-1.1%) 0.00 356
2019-04-01 $191,850 (1.7%) $251,271 (-6.1%) 0.00 330
2019-05-01 $195,000 (2.7%) $248,056 (-7.9%) 0.00 337
2019-06-01 $195,000 (2.7%) $256,517 (-2.6%) 0.00 372
2019-07-01 $189,950 (1.6%) $249,013 (-4.3%) 0.00 372
2019-08-01 $194,528 (4.3%) $253,676 (-3.8%) 0.00 378
2019-09-01 $189,900 (2.7%) $249,464 (-5.9%) 0.00 404
2019-10-01 $194,950 (2.7%) $248,822 (-5.1%) 0.00 428
2019-11-01 $189,900 (0.0%) $245,710 (-7.4%) 0.00 414
2019-12-01 $189,950 (2.7%) $244,895 (-4.9%) 0.00 392
2020-01-01 $186,247 (0.2%) $239,763 (-4.1%) 0.00 365
2020-02-01 $199,900 (8.1%) $245,815 (-2.2%) 0.00 370
2020-03-01 $209,450 (9.8%) $249,397 (-1.6%) 0.00 353
2020-04-01 $214,200 (11.7%) $254,029 (1.1%) 0.00 335
2020-05-01 $227,900 (16.9%) $265,989 (7.2%) 0.00 301
2020-06-01 $239,450 (22.8%) $278,433 (8.5%) 0.00 260
2020-07-01 $244,450 (28.7%) $280,072 (12.5%) 0.00 227
2020-08-01 $248,000 (27.5%) $293,652 (15.8%) 0.00 207
2020-09-01 $252,500 (33.0%) $299,547 (20.1%) 0.00 215
2020-10-01 $250,000 (28.2%) $298,905 (20.1%) 0.00 226
2020-11-01 $249,900 (31.6%) $287,872 (17.2%) 0.00 245
2020-12-01 $250,000 (31.6%) $292,309 (19.4%) 0.00 224
2021-01-01 $249,900 (34.2%) $292,927 (22.2%) 0.00 209
2021-02-01 $259,950 (30.0%) $306,519 (24.7%) 0.00 150
2021-03-01 $242,450 (15.8%) $309,082 (23.9%) 0.00 115
2021-04-01 $247,400 (15.5%) $332,326 (30.8%) 0.00 116
2021-05-01 $259,000 (13.7%) $347,568 (30.7%) 0.00 124
2021-06-01 $264,950 (10.7%) $362,989 (30.4%) 0.00 137
2021-07-01 $255,850 (4.7%) $354,958 (26.7%) 0.00 177
2021-08-01 $263,450 (6.2%) $349,185 (18.9%) 0.00 222
2021-09-01 $249,900 (-1.0%) $345,065 (15.2%) 0.00 228
2021-10-01 $265,000 (6.0%) $368,889 (23.4%) 0.00 242
2021-11-01 $252,500 (1.0%) $364,888 (26.8%) 0.00 252
2021-12-01 $249,900 (0.0%) $390,271 (33.5%) 0.00 246
2022-01-01 $243,900 (-2.4%) $399,106 (36.3%) 0.00 220
2022-02-01 $254,950 (-1.9%) $411,475 (34.2%) 0.00 187
2022-03-01 $269,900 (11.3%) $417,216 (35.0%) 0.00 166
2022-04-01 $279,900 (13.1%) $433,117 (30.3%) 0.00 168
Dalton's median listing price for 2022-04-01 was $279,900, a difference of $32,500 (13.1%) versus the prior year and $10,000 versus the prior month.

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

Dalton's average listing price for 2022-04-01 was $433,117, a difference of $100,791 (30.3%) versus the prior year and $15,901 versus the prior month.

For the 2022-04-01 period, Dalton had 168 MLS listings, a difference of 2 listings (1%) versus the prior month and 52 listings (45%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Dalton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,132 sqft
2018-02-01 0 days 2,166 sqft
2018-03-01 0 days 2,158 sqft
2018-04-01 0 days 2,276 sqft
2018-05-01 0 days 2,349 sqft
2018-06-01 0 days 2,334 sqft
2018-07-01 0 days 2,201 sqft
2018-08-01 0 days 2,147 sqft
2018-09-01 0 days 2,100 sqft
2018-10-01 0 days 2,134 sqft
2018-11-01 0 days 2,126 sqft
2018-12-01 0 days 2,051 sqft
2019-01-01 0 days 2,126 sqft
2019-02-01 0 days 2,154 sqft
2019-03-01 0 days 2,216 sqft
2019-04-01 0 days 2,244 sqft
2019-05-01 0 days 2,169 sqft
2019-06-01 0 days 2,160 sqft
2019-07-01 0 days 2,105 sqft
2019-08-01 0 days 2,090 sqft
2019-09-01 0 days 2,021 sqft
2019-10-01 0 days 1,983 sqft
2019-11-01 0 days 2,000 sqft
2019-12-01 0 days 2,000 sqft
2020-01-01 0 days 2,002 sqft
2020-02-01 0 days 2,002 sqft
2020-03-01 0 days 2,080 sqft
2020-04-01 0 days 2,128 sqft
2020-05-01 0 days 2,166 sqft
2020-06-01 0 days 2,290 sqft
2020-07-01 0 days 2,354 sqft
2020-08-01 0 days 2,380 sqft
2020-09-01 0 days 2,421 sqft
2020-10-01 0 days 2,314 sqft
2020-11-01 0 days 2,278 sqft
2020-12-01 0 days 2,276 sqft
2021-01-01 0 days 2,120 sqft
2021-02-01 0 days 2,398 sqft
2021-03-01 0 days 2,194 sqft
2021-04-01 0 days 2,043 sqft
2021-05-01 0 days 2,200 sqft
2021-06-01 0 days 2,042 sqft
2021-07-01 0 days 2,068 sqft
2021-08-01 0 days 2,021 sqft
2021-09-01 0 days 1,813 sqft
2021-10-01 0 days 1,884 sqft
2021-11-01 0 days 1,806 sqft
2021-12-01 0 days 1,759 sqft
2022-01-01 0 days 1,748 sqft
2022-02-01 0 days 1,792 sqft
2022-03-01 0 days 1,850 sqft
2022-04-01 0 days 1,930 sqft
Dalton's median listing age (time on market) for 2022-04-01 was 0 days.

Dalton's median square footage for active listings during the 2022-04-01 period was 1,930 sqft. One year prior, the average listing was 2,043 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).