Fitzgerald FHA Loan Rates, Closing Costs & Stats

Fitzgerald, 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.

    Fitzgerald's 19 lenders originated 42 FHA loans during 2023. The total origination value was $7,340,000, with an average FHA loan value of $174,762.

    Fitzgerald FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fitzgerald averaged 6.75% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Fitzgerald's average FHA mortgage closing costs are $5,671.

    The average rate for the prior week (2024-04-12) was 7.04% and one month ago for the week of 2024-03-15, the average rate was 6.51%.

    The average rate one year ago was 6.64%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Fitzgerald 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 Fitzgerald level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 6 6.54% $8,126
    HOMESTAR FINANCIAL CORPORATION 6 6.75% $4,796
    BANKSOUTH MORTGAGE COMPANY, LLC 4 6.50% $9,651
    Mr. Cooper ( Nationstar Mortgage ) 2 5.44% $11,352
    BROKER SOLUTIONS, INC. 2 6.50% $10,435
    CANOPY MORTGAGE, LLC 2 6.31% $14,528
    Colony Bank 2 7.19% $6,606
    UNITED WHOLESALE MORTGAGE, LLC 2 6.87% $8,123
    SHELTER HOME MORTGAGE, LLC 1 7.25% $20,770
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.88% $18,097
    UNION HOME MORTGAGE CORP. 1 7.63% $7,292
    JPMorgan Chase Bank 1 5.75% $4,573
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.00% $9,141
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $8,438
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.38% $3,285
    ACOPIA, LLC 1 7.75% $12,678
    MEGASTAR FINANCIAL CORP. 1 6.63% $9,586
    MORTGAGE INVESTORS GROUP, INC. 1 6.00% $7,133
    MOVEMENT MORTGAGE, LLC 1 6.50% $13,763

    The top Fitzgerald FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 6 FHA loans originated. Their average total fees are $8,126, which is $3,331 higher than the next largest lender, HOMESTAR FINANCIAL CORPORATION.

    The lowest fee Fitzgerald FHA lenders (with over 10 loans originated) are .

    The lowest rate Fitzgerald FHA lenders (with over 10 loans originated) are .

    Fitzgerald FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FITZGERALD, GA BEN HILL 2022 $420,680 $538,650 $651,050 $809,150
    FITZGERALD, GA BEN HILL 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fitzgerald (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 $109,900 (24.9%) $141,636 (17.9%) 0.00 46
    2018-02-01 $89,925 (1.6%) $126,202 (16.9%) 0.00 53
    2018-03-01 $89,950 (2.9%) $126,933 (16.2%) 0.00 51
    2018-04-01 $97,125 (8.0%) $125,382 (11.9%) 0.00 51
    2018-05-01 $89,999 (2.0%) $148,218 (42.2%) 0.00 56
    2018-06-01 $99,500 (10.6%) $157,254 (43.7%) 0.00 50
    2018-07-01 $99,500 (2.4%) $140,017 (24.0%) 0.00 53
    2018-08-01 $99,600 (1.0%) $125,909 (8.7%) 0.00 55
    2018-09-01 $99,500 (-0.4%) $128,106 (12.2%) 0.00 58
    2018-10-01 $99,500 (-6.0%) $125,127 (-8.3%) 0.00 54
    2018-11-01 $103,750 (-5.6%) $129,125 (-6.4%) 0.00 55
    2018-12-01 $97,200 (-11.6%) $132,750 (-4.0%) 0.00 59
    2019-01-01 $105,750 (-3.8%) $132,172 (-6.7%) 0.00 56
    2019-02-01 $116,250 (29.3%) $134,733 (6.8%) 0.00 56
    2019-03-01 $119,386 (32.7%) $133,696 (5.3%) 0.00 61
    2019-04-01 $119,900 (23.5%) $133,504 (6.5%) 0.00 59
    2019-05-01 $115,500 (28.3%) $130,567 (-11.9%) 0.00 54
    2019-06-01 $109,900 (10.5%) $118,740 (-24.5%) 0.00 55
    2019-07-01 $96,500 (-3.0%) $109,153 (-22.0%) 0.00 57
    2019-08-01 $97,305 (-2.3%) $114,334 (-9.2%) 0.00 59
    2019-09-01 $98,511 (-1.0%) $115,227 (-10.1%) 0.00 61
    2019-10-01 $99,091 (-0.4%) $117,950 (-5.7%) 0.00 63
    2019-11-01 $96,000 (-7.5%) $122,247 (-5.3%) 0.00 56
    2019-12-01 $98,000 (0.8%) $130,967 (-1.3%) 0.00 57
    2020-01-01 $92,900 (-12.2%) $125,892 (-4.8%) 0.00 60
    2020-02-01 $89,900 (-22.7%) $127,930 (-5.1%) 0.00 59
    2020-03-01 $95,500 (-20.0%) $138,514 (3.6%) 0.00 50
    2020-04-01 $103,250 (-13.9%) $141,395 (5.9%) 0.00 51
    2020-05-01 $107,000 (-7.4%) $136,522 (4.6%) 0.00 48
    2020-06-01 $121,675 (10.7%) $153,653 (29.4%) 0.00 48
    2020-07-01 $117,400 (21.7%) $161,388 (47.9%) 0.00 42
    2020-08-01 $92,500 (-4.9%) $144,098 (26.0%) 0.00 31
    2020-09-01 $99,100 (0.6%) $161,925 (40.5%) 0.00 28
    2020-10-01 $112,400 (13.4%) $161,594 (37.0%) 0.00 23
    2020-11-01 $119,900 (24.9%) $167,264 (36.8%) 0.00 28
    2020-12-01 $111,150 (13.4%) $139,529 (6.5%) 0.00 26
    2021-01-01 $119,900 (29.1%) $152,038 (20.8%) 0.00 20
    2021-02-01 $119,925 (33.4%) $157,117 (22.8%) 0.00 20
    2021-03-01 $112,000 (17.3%) $150,898 (8.9%) 0.00 17
    2021-04-01 $118,500 (14.8%) $176,793 (25.0%) 0.00 21
    2021-05-01 $125,000 (16.8%) $185,121 (35.6%) 0.00 21
    2021-06-01 $147,975 (21.6%) $202,258 (31.6%) 0.00 19
    2021-07-01 $146,950 (25.2%) $209,088 (29.6%) 0.00 15
    2021-08-01 $139,900 (51.2%) $189,293 (31.4%) 0.00 13
    2021-09-01 $152,175 (53.6%) $208,569 (28.8%) 0.00 14
    2021-10-01 $179,900 (60.1%) $233,267 (44.4%) 0.00 13
    2021-11-01 $189,900 (58.4%) $232,085 (38.8%) 0.00 22
    2021-12-01 $213,650 (92.2%) $252,897 (81.3%) 0.00 19
    2022-01-01 $209,900 (75.1%) $245,381 (61.4%) 0.00 21
    2022-02-01 $159,900 (33.3%) $220,003 (40.0%) 0.00 27
    2022-03-01 $151,950 (35.7%) $187,806 (24.5%) 0.00 24
    2022-04-01 $92,700 (-21.8%) $166,367 (-5.9%) 0.00 29
    2022-05-01 $144,150 (15.3%) $212,309 (14.7%) 0.00 25
    2022-06-01 $142,400 (-3.8%) $202,785 (0.3%) 0.00 34
    2022-07-01 $148,250 (0.9%) $206,146 (-1.4%) 0.00 29
    2022-08-01 $130,575 (-6.7%) $178,532 (-5.7%) 0.00 27
    2022-09-01 $148,675 (-2.3%) $175,981 (-15.6%) 0.00 27
    2022-10-01 $159,000 (-11.6%) $171,828 (-26.3%) 0.00 23
    2022-11-01 $159,500 (-16.0%) $186,648 (-19.6%) 0.00 28
    2022-12-01 $140,000 (-34.5%) $140,574 (-44.4%) 0.00 25
    2023-01-01 $139,900 (-33.4%) $148,383 (-39.5%) 0.00 33
    2023-02-01 $162,400 (1.6%) $186,748 (-15.1%) 0.00 33
    2023-03-01 $166,000 (9.3%) $189,719 (1.0%) 0.00 32
    2023-04-01 $184,000 (98.5%) $204,500 (22.9%) 0.00 27
    2023-05-01 $174,225 (20.9%) $215,311 (1.4%) 0.00 27
    2023-06-01 $168,000 (18.0%) $207,760 (2.5%) 0.00 20
    2023-07-01 $169,450 (14.3%) $211,270 (2.5%) 0.00 18
    2023-08-01 $165,700 (26.9%) $197,389 (10.6%) 0.00 22
    2023-09-01 $154,500 (3.9%) $175,115 (-0.5%) 0.00 24
    2023-10-01 $159,450 (0.3%) $175,508 (2.1%) 0.00 27
    2023-11-01 $189,850 (19.0%) $239,286 (28.2%) 0.00 27
    2023-12-01 $192,200 (37.3%) $269,028 (91.4%) 0.00 27
    2024-01-01 $202,923 (45.1%) $271,866 (83.2%) 0.00 29
    2024-02-01 $182,450 (12.4%) $243,907 (30.6%) 0.00 33
    2024-03-01 $189,900 (14.4%) $258,600 (36.3%) 0.00 30
    Fitzgerald's median listing price for 2024-03-01 was $189,900, a difference of $23,900 (14.4%) versus the prior year and $7,450 versus the prior month.

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

    Fitzgerald's average listing price for 2024-03-01 was $258,600, a difference of $68,881 (36.3%) versus the prior year and $14,693 versus the prior month.

    For the 2024-03-01 period, Fitzgerald had 30 MLS listings, a difference of -3 listings (-9%) versus the prior month and -2 listings (-6%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fitzgerald (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,805 sqft
    2018-02-01 0 days 1,671 sqft
    2018-03-01 0 days 1,696 sqft
    2018-04-01 0 days 1,801 sqft
    2018-05-01 0 days 1,747 sqft
    2018-06-01 0 days 1,805 sqft
    2018-07-01 0 days 1,743 sqft
    2018-08-01 0 days 1,831 sqft
    2018-09-01 0 days 1,727 sqft
    2018-10-01 0 days 1,776 sqft
    2018-11-01 0 days 1,806 sqft
    2018-12-01 0 days 1,799 sqft
    2019-01-01 0 days 1,721 sqft
    2019-02-01 0 days 1,757 sqft
    2019-03-01 0 days 1,798 sqft
    2019-04-01 0 days 1,798 sqft
    2019-05-01 0 days 1,855 sqft
    2019-06-01 0 days 1,849 sqft
    2019-07-01 0 days 1,853 sqft
    2019-08-01 0 days 1,786 sqft
    2019-09-01 0 days 1,699 sqft
    2019-10-01 0 days 1,681 sqft
    2019-11-01 0 days 1,712 sqft
    2019-12-01 0 days 1,797 sqft
    2020-01-01 0 days 1,756 sqft
    2020-02-01 0 days 1,780 sqft
    2020-03-01 0 days 1,795 sqft
    2020-04-01 0 days 1,748 sqft
    2020-05-01 0 days 1,645 sqft
    2020-06-01 0 days 1,813 sqft
    2020-07-01 0 days 1,791 sqft
    2020-08-01 0 days 1,642 sqft
    2020-09-01 0 days 1,613 sqft
    2020-10-01 0 days 1,814 sqft
    2020-11-01 0 days 1,935 sqft
    2020-12-01 0 days 1,805 sqft
    2021-01-01 0 days 2,042 sqft
    2021-02-01 0 days 2,042 sqft
    2021-03-01 0 days 1,518 sqft
    2021-04-01 0 days 1,516 sqft
    2021-05-01 0 days 1,574 sqft
    2021-06-01 0 days 1,620 sqft
    2021-07-01 0 days 1,868 sqft
    2021-08-01 0 days 1,902 sqft
    2021-09-01 0 days 1,931 sqft
    2021-10-01 0 days 2,012 sqft
    2021-11-01 0 days 1,796 sqft
    2021-12-01 0 days 1,875 sqft
    2022-01-01 0 days 1,964 sqft
    2022-02-01 0 days 1,996 sqft
    2022-03-01 0 days 1,774 sqft
    2022-04-01 0 days 1,738 sqft
    2022-05-01 0 days 1,617 sqft
    2022-06-01 0 days 1,946 sqft
    2022-07-01 0 days 1,868 sqft
    2022-08-01 0 days 1,773 sqft
    2022-09-01 0 days 1,762 sqft
    2022-10-01 0 days 1,572 sqft
    2022-11-01 0 days 1,741 sqft
    2022-12-01 0 days 1,616 sqft
    2023-01-01 0 days 1,778 sqft
    2023-02-01 0 days 1,865 sqft
    2023-03-01 0 days 1,840 sqft
    2023-04-01 0 days 1,957 sqft
    2023-05-01 0 days 1,825 sqft
    2023-06-01 0 days 1,984 sqft
    2023-07-01 0 days 2,359 sqft
    2023-08-01 0 days 1,905 sqft
    2023-09-01 0 days 1,778 sqft
    2023-10-01 0 days 1,772 sqft
    2023-11-01 0 days 1,928 sqft
    2023-12-01 0 days 1,962 sqft
    2024-01-01 0 days 1,883 sqft
    2024-02-01 0 days 1,662 sqft
    2024-03-01 0 days 1,592 sqft
    Fitzgerald's median listing age (time on market) for 2024-03-01 was 0 days.

    Fitzgerald's median square footage for active listings during the 2024-03-01 period was 1,592 sqft. One year prior, the average listing was 1,840 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).