Dalton FHA Loan Rates, Closing Costs & Stats

DALTON, 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.

    Dalton's 81 lenders originated 497 FHA loans during 2023. The total origination value was $107,175,000, with an average FHA loan value of $215,644.

    Dalton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Dalton averaged 6.99% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Dalton's average FHA mortgage closing costs are $7,254.

    The average rate for the prior week (2024-04-12) was 6.69% and one month ago for the week of 2024-03-15, the average rate was 6.65%.

    The average rate one year ago was 6.58%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.98%.

    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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Dalton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 45 6.15% $11,077
    FirstBank 41 6.45% $8,487
    STOCKTON MORTGAGE CORPORATION 34 6.75% $9,866
    MOVEMENT MORTGAGE, LLC 24 6.79% $9,111
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 7.15% $11,549
    PRIMELENDING, A PLAINSCAPITAL COMPANY 22 6.82% $9,590
    GUILD MORTGAGE COMPANY 19 6.30% $9,824
    Regions Bank 18 6.11% $8,232
    UNITED WHOLESALE MORTGAGE, LLC 15 6.38% $9,599
    CMG MORTGAGE, INC. 14 6.71% $8,644
    BROKER SOLUTIONS, INC. 14 6.34% $11,020
    HOMESTAR FINANCIAL CORPORATION 13 6.76% $7,417
    FIRST COMMUNITY MORTGAGE, INC. 10 6.41% $9,463
    SUMMIT FUNDING, INC. 10 7.15% $10,224
    UNION HOME MORTGAGE CORP. 8 6.98% $10,741
    TJC Mortgage, Inc. 7 6.88% $10,941
    LEADERONE FINANCIAL CORPORATION 7 6.36% $9,978
    BANKSOUTH MORTGAGE COMPANY, LLC 6 6.98% $11,515
    Carrington Mortgage Services, LLC 6 6.15% $9,701
    PENNYMAC LOAN SERVICES, LLC 6 5.93% $12,150
    LOANDEPOT.COM, LLC 6 6.18% $10,369
    Renasant Bank 6 6.73% $10,367
    CROSSCOUNTRY MORTGAGE, LLC 5 6.41% $8,682
    CARDINAL FINANCIAL 5 6.07% $11,309
    Mr. Cooper ( Nationstar Mortgage ) 5 6.40% $12,349
    MORTGAGE INVESTORS GROUP, INC. 5 6.90% $10,195
    DAS Acquisition Company, LLC 5 7.20% $11,586
    ACOPIA, LLC 4 7.31% $11,117
    ISERVE RESIDENTIAL LENDING, LLC 4 6.25% $19,606
    EVERETT FINANCIAL, INC. 4 7.41% $7,395
    MID AMERICA MORTGAGE, INC. 3 7.75% $6,231
    GUARANTEED RATE, INC. 3 6.33% $12,775
    ALAMEDA MORTGAGE CORPORATION 3 6.38% $11,526
    MILEND, INC. 3 6.75% $16,588
    SUCCESS MORTGAGE PARTNERS, INC. 3 6.46% $12,805
    NFM, INC. 3 7.13% $8,947
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.44% $14,117
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.75% $5,731
    AMERICAN FINANCING CORPORATION 2 6.00% $9,117
    Equity Prime Mortgage LLC 2 7.00% $6,468
    Flagstar Bank, FSB 2 7.39% $6,547
    FREEDOM MORTGAGE CORPORATION 2 7.25% $9,642
    NEWREZ LLC 2 6.25% $10,058
    Northpointe Bank 2 6.19% $11,320
    OCMBC, INC. 2 6.25% $11,612
    RELIANCE FIRST CAPITAL, LLC 2 7.06% $9,935
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 5.69% $14,377
    Mortgage Research Center, LLC 1 7.13% $3,998
    FirstTrust Home Loans, Inc. 1 6.13% $8,574
    First Option Mortgage, LLC 1 8.50% $16,168
    FIRST COLONY MORTGAGE CORPORATION 1 7.00% $11,267
    NEW DAY FINANCIAL, LLC 1 7.25% $3,219
    American Mortgage & Equity Consultants, Inc. 1 6.63% $13,761
    CONTOUR MORTGAGE CORPORATION 1 5.13% $13,859
    US MORTGAGE CORPORATION 1 7.25% $10,477
    Wolfe Financial, Inc 1 6.25% $11,132
    PANORAMA MORTGAGE GROUP, LLC 1 6.75% $10,443
    COMMUNITY MORTGAGE CORPORATION 1 6.50% $9,570
    Plains Commerce Bank 1 6.75% $9,354
    PLAZA HOME MORTGAGE, INC. 1 6.25% $8,624
    Citizens Bank 1 5.38% $14,152
    Prosperity Home Mortgage, LLC 1 5.75% $5,993
    Century Mortgage Company DBA Century Lending Company 1 5.88% $4,641
    BAYSHORE MORTGAGE FUNDING, LLC 1 6.63% $8,223
    VILLAGE CAPITAL MORTGAGE 1 5.00% $12,944
    BancorpSouth 1 7.00% $9,383
    ROYAL UNITED MORTGAGE LLC 1 7.25% $7,623
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.75% $5,596
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $12,259
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $8,148
    Ameris Bank 1 5.75% $8,243
    Synovus Bank 1 6.13% $9,445
    The Central Trust Bank 1 6.00% $11,826
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $14,276
    AmeriHome Mortgage Company, LLC 1 6.88% $10,055
    United Community Bank 1 6.25% $16,250
    LIBERTY HOME MORTGAGE CORPORATION 1 6.25% $9,999
    MEMBER FIRST MORTGAGE, LLC 1 6.88% $12,665
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $8,753
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $12,383
    GENEVA FINANCIAL, LLC 1 6.63% $9,757

    The top Dalton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 45 FHA loans originated. Their average total fees are $11,077, which is $2,590 higher than the next largest lender, FirstBank.

    The lowest fee Dalton FHA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($7,417), Regions Bank ($8,232), FirstBank ($8,487), CMG MORTGAGE, INC. ($8,644) and MOVEMENT MORTGAGE, LLC ($9,111).

    The lowest rate Dalton FHA lenders (with over 10 loans originated) are Regions Bank (6.11%), QUICKEN LOANS, LLC (6.15%), GUILD MORTGAGE COMPANY (6.30%), BROKER SOLUTIONS, INC. (6.34%) and UNITED WHOLESALE MORTGAGE, LLC (6.38%).

    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
    DALTON, GA MURRAY 2023 $472,030 $604,400 $730,525 $907,900
    DALTON, GA WHITFIELD 2023 $472,030 $604,400 $730,525 $907,900

    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 $169,500 (2.4%) $250,905 (10.3%) 0.00 318
    2018-02-01 $169,900 (3.0%) $249,409 (13.2%) 0.00 327
    2018-03-01 $169,900 (3.0%) $250,115 (17.1%) 0.00 321
    2018-04-01 $175,250 (3.7%) $259,321 (18.2%) 0.00 327
    2018-05-01 $179,900 (5.9%) $256,616 (10.4%) 0.00 305
    2018-06-01 $179,900 (4.4%) $243,175 (2.6%) 0.00 314
    2018-07-01 $172,450 (-6.8%) $241,297 (-3.8%) 0.00 322
    2018-08-01 $170,425 (-1.7%) $241,644 (-1.1%) 0.00 317
    2018-09-01 $174,950 (3.0%) $245,357 (3.4%) 0.00 337
    2018-10-01 $179,200 (8.7%) $240,156 (3.7%) 0.00 326
    2018-11-01 $178,225 (5.7%) $242,477 (3.4%) 0.00 313
    2018-12-01 $173,500 (2.1%) $233,727 (-2.4%) 0.00 317
    2019-01-01 $175,450 (3.5%) $230,426 (-8.2%) 0.00 301
    2019-02-01 $177,000 (4.2%) $235,879 (-5.4%) 0.00 291
    2019-03-01 $182,171 (7.2%) $242,505 (-3.0%) 0.00 280
    2019-04-01 $185,871 (6.1%) $243,252 (-6.2%) 0.00 266
    2019-05-01 $188,400 (4.7%) $239,600 (-6.6%) 0.00 271
    2019-06-01 $189,900 (5.6%) $247,092 (1.6%) 0.00 297
    2019-07-01 $189,450 (9.9%) $243,905 (1.1%) 0.00 298
    2019-08-01 $189,973 (11.5%) $250,112 (3.5%) 0.00 312
    2019-09-01 $189,932 (8.6%) $247,303 (0.8%) 0.00 329
    2019-10-01 $189,875 (6.0%) $245,028 (2.0%) 0.00 337
    2019-11-01 $184,400 (3.5%) $241,137 (-0.6%) 0.00 332
    2019-12-01 $184,400 (6.3%) $237,791 (1.7%) 0.00 314
    2020-01-01 $179,900 (2.5%) $234,315 (1.7%) 0.00 289
    2020-02-01 $192,450 (8.7%) $243,199 (3.1%) 0.00 291
    2020-03-01 $199,900 (9.7%) $245,061 (1.1%) 0.00 274
    2020-04-01 $203,400 (9.4%) $249,220 (2.5%) 0.00 258
    2020-05-01 $219,900 (16.7%) $263,623 (10.0%) 0.00 227
    2020-06-01 $228,450 (20.3%) $275,568 (11.5%) 0.00 198
    2020-07-01 $235,558 (24.3%) $279,505 (14.6%) 0.00 170
    2020-08-01 $230,000 (21.1%) $292,117 (16.8%) 0.00 162
    2020-09-01 $249,400 (31.3%) $291,798 (18.0%) 0.00 165
    2020-10-01 $239,900 (26.4%) $285,896 (16.7%) 0.00 175
    2020-11-01 $246,988 (33.9%) $278,171 (15.4%) 0.00 191
    2020-12-01 $249,925 (35.5%) $291,971 (22.8%) 0.00 170
    2021-01-01 $249,900 (38.9%) $290,281 (23.9%) 0.00 154
    2021-02-01 $265,950 (38.2%) $307,920 (26.6%) 0.00 120
    2021-03-01 $239,900 (20.0%) $302,692 (23.5%) 0.00 93
    2021-04-01 $243,900 (19.9%) $319,553 (28.2%) 0.00 91
    2021-05-01 $249,900 (13.6%) $324,793 (23.2%) 0.00 96
    2021-06-01 $259,600 (13.6%) $354,912 (28.8%) 0.00 107
    2021-07-01 $249,900 (6.1%) $343,415 (22.9%) 0.00 140
    2021-08-01 $254,725 (10.8%) $341,429 (16.9%) 0.00 171
    2021-09-01 $238,700 (-4.3%) $341,163 (16.9%) 0.00 176
    2021-10-01 $250,000 (4.2%) $347,117 (21.4%) 0.00 180
    2021-11-01 $249,675 (1.1%) $354,874 (27.6%) 0.00 185
    2021-12-01 $248,000 (-0.8%) $358,796 (22.9%) 0.00 183
    2022-01-01 $239,900 (-4.0%) $365,754 (26.0%) 0.00 167
    2022-02-01 $249,950 (-6.0%) $380,305 (23.5%) 0.00 143
    2022-03-01 $268,700 (12.0%) $383,927 (26.8%) 0.00 130
    2022-04-01 $272,500 (11.7%) $400,407 (25.3%) 0.00 125
    2022-05-01 $266,225 (6.5%) $375,086 (15.5%) 0.00 204
    2022-06-01 $282,425 (8.8%) $360,173 (1.5%) 0.00 233
    2022-07-01 $279,900 (12.0%) $360,291 (4.9%) 0.00 271
    2022-08-01 $279,788 (9.8%) $362,219 (6.1%) 0.00 301
    2022-09-01 $279,950 (17.3%) $352,624 (3.4%) 0.00 309
    2022-10-01 $274,900 (10.0%) $337,738 (-2.7%) 0.00 301
    2022-11-01 $266,075 (6.6%) $334,559 (-5.7%) 0.00 288
    2022-12-01 $273,450 (10.3%) $350,302 (-2.4%) 0.00 249
    2023-01-01 $269,950 (12.5%) $345,771 (-5.5%) 0.00 199
    2023-02-01 $279,925 (12.0%) $364,843 (-4.1%) 0.00 188
    2023-03-01 $299,900 (11.6%) $368,771 (-4.0%) 0.00 157
    2023-04-01 $299,900 (10.1%) $363,475 (-9.2%) 0.00 143
    2023-05-01 $315,250 (18.4%) $389,203 (3.8%) 0.00 147
    2023-06-01 $312,500 (10.7%) $390,344 (8.4%) 0.00 177
    2023-07-01 $310,000 (10.8%) $381,316 (5.8%) 0.00 195
    2023-08-01 $312,113 (11.6%) $380,274 (5.0%) 0.00 220
    2023-09-01 $325,000 (16.1%) $436,588 (23.8%) 0.00 207
    2023-10-01 $324,950 (18.2%) $446,628 (32.2%) 0.00 233
    2023-11-01 $315,000 (18.4%) $446,615 (33.5%) 0.00 258
    2023-12-01 $325,000 (18.9%) $456,984 (30.5%) 0.00 255
    2024-01-01 $325,000 (20.4%) $462,571 (33.8%) 0.00 249
    2024-02-01 $334,625 (19.5%) $470,420 (28.9%) 0.00 240
    2024-03-01 $341,950 (14.0%) $467,933 (26.9%) 0.00 238
    Dalton's median listing price for 2024-03-01 was $341,950, a difference of $42,050 (14.0%) versus the prior year and $7,325 versus the prior month.

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

    Dalton's average listing price for 2024-03-01 was $467,933, a difference of $99,162 (26.9%) versus the prior year and $-2,487 versus the prior month.

    For the 2024-03-01 period, Dalton had 238 MLS listings, a difference of -2 listings (-1%) versus the prior month and 81 listings (52%) 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 2,001 sqft
    2018-02-01 0 days 1,979 sqft
    2018-03-01 0 days 2,028 sqft
    2018-04-01 0 days 2,108 sqft
    2018-05-01 0 days 2,114 sqft
    2018-06-01 0 days 2,130 sqft
    2018-07-01 0 days 2,086 sqft
    2018-08-01 0 days 1,931 sqft
    2018-09-01 0 days 1,917 sqft
    2018-10-01 0 days 2,028 sqft
    2018-11-01 0 days 2,015 sqft
    2018-12-01 0 days 1,918 sqft
    2019-01-01 0 days 1,985 sqft
    2019-02-01 0 days 1,976 sqft
    2019-03-01 0 days 2,047 sqft
    2019-04-01 0 days 2,084 sqft
    2019-05-01 0 days 2,062 sqft
    2019-06-01 0 days 2,033 sqft
    2019-07-01 0 days 1,939 sqft
    2019-08-01 0 days 1,967 sqft
    2019-09-01 0 days 1,951 sqft
    2019-10-01 0 days 1,932 sqft
    2019-11-01 0 days 1,943 sqft
    2019-12-01 0 days 1,948 sqft
    2020-01-01 0 days 1,915 sqft
    2020-02-01 0 days 1,913 sqft
    2020-03-01 0 days 1,910 sqft
    2020-04-01 0 days 1,894 sqft
    2020-05-01 0 days 2,080 sqft
    2020-06-01 0 days 2,226 sqft
    2020-07-01 0 days 2,312 sqft
    2020-08-01 0 days 2,340 sqft
    2020-09-01 0 days 2,382 sqft
    2020-10-01 0 days 2,268 sqft
    2020-11-01 0 days 2,218 sqft
    2020-12-01 0 days 2,154 sqft
    2021-01-01 0 days 2,069 sqft
    2021-02-01 0 days 2,141 sqft
    2021-03-01 0 days 1,881 sqft
    2021-04-01 0 days 1,947 sqft
    2021-05-01 0 days 1,880 sqft
    2021-06-01 0 days 1,901 sqft
    2021-07-01 0 days 1,900 sqft
    2021-08-01 0 days 1,873 sqft
    2021-09-01 0 days 1,792 sqft
    2021-10-01 0 days 1,802 sqft
    2021-11-01 0 days 1,796 sqft
    2021-12-01 0 days 1,738 sqft
    2022-01-01 0 days 1,700 sqft
    2022-02-01 0 days 1,765 sqft
    2022-03-01 0 days 1,819 sqft
    2022-04-01 0 days 1,814 sqft
    2022-05-01 0 days 1,572 sqft
    2022-06-01 0 days 1,588 sqft
    2022-07-01 0 days 1,764 sqft
    2022-08-01 0 days 1,710 sqft
    2022-09-01 0 days 1,680 sqft
    2022-10-01 0 days 1,680 sqft
    2022-11-01 0 days 1,664 sqft
    2022-12-01 0 days 1,744 sqft
    2023-01-01 0 days 1,696 sqft
    2023-02-01 0 days 1,724 sqft
    2023-03-01 0 days 1,838 sqft
    2023-04-01 0 days 1,863 sqft
    2023-05-01 0 days 1,876 sqft
    2023-06-01 0 days 1,860 sqft
    2023-07-01 0 days 1,928 sqft
    2023-08-01 0 days 1,925 sqft
    2023-09-01 0 days 1,923 sqft
    2023-10-01 0 days 1,920 sqft
    2023-11-01 0 days 1,931 sqft
    2023-12-01 0 days 1,895 sqft
    2024-01-01 0 days 1,835 sqft
    2024-02-01 0 days 1,810 sqft
    2024-03-01 0 days 1,807 sqft
    Dalton's median listing age (time on market) for 2024-03-01 was 0 days.

    Dalton's median square footage for active listings during the 2024-03-01 period was 1,807 sqft. One year prior, the average listing was 1,838 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).