Gainesville FHA Loan Rates, Closing Costs & Stats
GAINESVILLE, 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.
Gainesville's 96 lenders originated 713 FHA loans during 2023. The total origination value was $219,525,000, with an average FHA loan value of $307,889.
Gainesville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Gainesville
averaged
5.92%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Gainesville's average FHA mortgage closing costs are $8,482.
The average rate for the prior week (2024-09-27) was
5.81% and
one month ago for the week of 2024-08-30, the
average rate was 6.27%.
The average rate one year ago was 7.31%.
For refis of the same type during the week of 2024-10-04, the average rate
was 6.01%.
Gainesville 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 Gainesville level.
The top Gainesville FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
84 FHA loans originated. Their average total fees are
$14,797, which is $801
higher than the next largest lender,
BROKER SOLUTIONS, INC..
The lowest fee Gainesville FHA lenders (with over 10 loans originated) are
HOMESTAR FINANCIAL CORPORATION ($9,678), HOMEOWNERS FINANCIAL GROUP USA, LLC ($11,850), STOCKTON MORTGAGE CORPORATION ($12,505), QUICKEN LOANS, LLC ($13,369) and MOVEMENT MORTGAGE, LLC ($13,678).
The lowest rate Gainesville FHA lenders (with over 10 loans originated) are
VANDERBILT MORTGAGE AND FINANCE, INC. (5.89%), Ameris Bank (5.98%), LOANDEPOT.COM, LLC (6.02%), BROKER SOLUTIONS, INC. (6.08%) and UNITED WHOLESALE MORTGAGE, LLC (6.11%).
Gainesville FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
GAINESVILLE, GA | HALL | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
GAINESVILLE, GA | HALL | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Gainesville (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 | $317,450 (5.8%) | $432,480 (1.0%) | 1.18 | 852 |
2018-02-01 | $324,825 (4.9%) | $433,052 (-0.6%) | 1.18 | 893 |
2018-03-01 | $335,463 (5.3%) | $440,567 (1.7%) | 1.18 | 915 |
2018-04-01 | $349,900 (7.7%) | $470,120 (7.7%) | 1.19 | 1,018 |
2018-05-01 | $349,900 (6.4%) | $447,946 (1.8%) | 1.17 | 1,071 |
2018-06-01 | $352,950 (7.0%) | $461,402 (7.7%) | 1.18 | 1,072 |
2018-07-01 | $352,746 (8.5%) | $454,211 (6.5%) | 1.18 | 1,076 |
2018-08-01 | $355,450 (9.3%) | $457,845 (6.7%) | 1.19 | 1,066 |
2018-09-01 | $352,463 (8.5%) | $453,005 (6.7%) | 1.18 | 1,075 |
2018-10-01 | $339,925 (4.1%) | $439,127 (3.5%) | 1.15 | 1,224 |
2018-11-01 | $339,975 (6.4%) | $441,847 (5.0%) | 1.15 | 1,177 |
2018-12-01 | $337,900 (9.0%) | $432,480 (2.4%) | 1.17 | 1,164 |
2019-01-01 | $338,475 (6.6%) | $442,973 (2.4%) | 1.17 | 1,089 |
2019-02-01 | $347,460 (7.0%) | $470,817 (8.7%) | 1.17 | 1,063 |
2019-03-01 | $328,471 (-2.1%) | $443,095 (0.6%) | 1.07 | 1,213 |
2019-04-01 | $299,900 (-14.3%) | $392,982 (-16.4%) | 0.95 | 1,478 |
2019-05-01 | $299,900 (-14.3%) | $395,652 (-11.7%) | 0.94 | 1,521 |
2019-06-01 | $289,900 (-17.9%) | $397,158 (-13.9%) | 0.91 | 1,551 |
2019-07-01 | $286,945 (-18.7%) | $396,743 (-12.7%) | 0.90 | 1,566 |
2019-08-01 | $285,527 (-19.7%) | $388,923 (-15.1%) | 0.90 | 1,554 |
2019-09-01 | $286,243 (-18.8%) | $380,961 (-15.9%) | 0.92 | 1,495 |
2019-10-01 | $305,625 (-10.1%) | $407,943 (-7.1%) | 0.99 | 1,239 |
2019-11-01 | $324,000 (-4.7%) | $440,447 (-0.3%) | 1.06 | 1,017 |
2019-12-01 | $321,680 (-4.8%) | $442,671 (2.4%) | 1.07 | 978 |
2020-01-01 | $318,308 (-6.0%) | $447,870 (1.1%) | 1.06 | 910 |
2020-02-01 | $320,758 (-7.7%) | $459,250 (-2.5%) | 1.05 | 889 |
2020-03-01 | $339,900 (3.5%) | $470,219 (6.1%) | 1.07 | 942 |
2020-04-01 | $340,215 (13.4%) | $472,622 (20.3%) | 1.07 | 978 |
2020-05-01 | $349,999 (16.7%) | $488,072 (23.4%) | 1.06 | 915 |
2020-06-01 | $352,696 (21.7%) | $494,146 (24.4%) | 1.04 | 792 |
2020-07-01 | $352,475 (22.8%) | $501,063 (26.3%) | 1.02 | 744 |
2020-08-01 | $364,950 (27.8%) | $516,058 (32.7%) | 1.05 | 656 |
2020-09-01 | $372,175 (30.0%) | $544,887 (43.0%) | 1.07 | 583 |
2020-10-01 | $361,585 (18.3%) | $524,286 (28.5%) | 1.04 | 561 |
2020-11-01 | $362,000 (11.7%) | $543,112 (23.3%) | 1.06 | 502 |
2020-12-01 | $357,759 (11.2%) | $553,336 (25.0%) | 1.06 | 443 |
2021-01-01 | $365,000 (14.7%) | $576,801 (28.8%) | 1.09 | 362 |
2021-02-01 | $398,800 (24.3%) | $615,006 (33.9%) | 1.16 | 274 |
2021-03-01 | $384,450 (13.1%) | $618,370 (31.5%) | 1.09 | 278 |
2021-04-01 | $415,000 (22.0%) | $672,535 (42.3%) | 1.12 | 265 |
2021-05-01 | $439,750 (25.6%) | $671,518 (37.6%) | 1.17 | 276 |
2021-06-01 | $419,931 (19.1%) | $693,195 (40.3%) | 1.11 | 320 |
2021-07-01 | $419,900 (19.1%) | $705,574 (40.8%) | 1.11 | 397 |
2021-08-01 | $418,000 (14.5%) | $657,572 (27.4%) | 1.11 | 432 |
2021-09-01 | $426,939 (14.7%) | $627,148 (15.1%) | 1.14 | 414 |
2021-10-01 | $449,899 (24.4%) | $630,534 (20.3%) | 1.20 | 408 |
2021-11-01 | $468,749 (29.5%) | $636,426 (17.2%) | 1.25 | 404 |
2021-12-01 | $461,725 (29.1%) | $640,574 (15.8%) | 1.25 | 358 |
2022-01-01 | $458,802 (25.7%) | $629,230 (9.1%) | 1.24 | 295 |
2022-02-01 | $459,950 (15.3%) | $614,686 (-0.1%) | 1.20 | 306 |
2022-03-01 | $487,032 (26.7%) | $624,394 (1.0%) | 1.22 | 318 |
2022-04-01 | $498,225 (20.1%) | $674,260 (0.3%) | 1.19 | 341 |
2022-05-01 | $498,690 (13.4%) | $664,179 (-1.1%) | 1.14 | 422 |
2022-06-01 | $514,549 (22.5%) | $673,073 (-2.9%) | 1.15 | 506 |
2022-07-01 | $501,428 (19.4%) | $657,299 (-6.8%) | 1.13 | 610 |
2022-08-01 | $499,450 (19.5%) | $620,483 (-5.6%) | 1.15 | 661 |
2022-09-01 | $493,030 (15.5%) | $609,596 (-2.8%) | 1.15 | 688 |
2022-10-01 | $485,000 (7.8%) | $589,735 (-6.5%) | 1.14 | 688 |
2022-11-01 | $476,975 (1.8%) | $569,886 (-10.5%) | 1.15 | 676 |
2022-12-01 | $479,780 (3.9%) | $586,395 (-8.5%) | 1.18 | 610 |
2023-01-01 | $480,100 (4.6%) | $590,611 (-6.1%) | 1.19 | 535 |
2023-02-01 | $477,450 (3.8%) | $607,458 (-1.2%) | 1.15 | 500 |
2023-03-01 | $473,450 (-2.8%) | $610,352 (-2.3%) | 1.12 | 501 |
2023-04-01 | $494,557 (-0.7%) | $680,554 (0.9%) | 1.15 | 440 |
2023-05-01 | $496,855 (-0.4%) | $707,194 (6.5%) | 1.13 | 442 |
2023-06-01 | $496,885 (-3.4%) | $699,648 (4.0%) | 1.12 | 497 |
2023-07-01 | $498,353 (-0.6%) | $682,100 (3.8%) | 1.13 | 501 |
2023-08-01 | $483,440 (-3.2%) | $683,150 (10.1%) | 1.11 | 538 |
2023-09-01 | $480,870 (-2.5%) | $670,964 (10.1%) | 1.12 | 530 |
2023-10-01 | $486,950 (0.4%) | $645,889 (9.5%) | 1.15 | 542 |
2023-11-01 | $486,861 (2.1%) | $649,516 (14.0%) | 1.16 | 583 |
2023-12-01 | $494,889 (3.2%) | $665,435 (13.5%) | 1.21 | 576 |
2024-01-01 | $511,495 (6.5%) | $673,403 (14.0%) | 1.25 | 528 |
2024-02-01 | $522,173 (9.4%) | $697,027 (14.7%) | 1.26 | 517 |
2024-03-01 | $539,550 (14.0%) | $712,181 (16.7%) | 1.27 | 521 |
2024-04-01 | $547,331 (10.7%) | $719,158 (5.7%) | 1.27 | 548 |
2024-05-01 | $548,876 (10.5%) | $745,797 (5.5%) | 1.24 | 615 |
2024-06-01 | $549,000 (10.5%) | $746,192 (6.7%) | 1.23 | 663 |
2024-07-01 | $542,450 (8.9%) | $739,701 (8.4%) | 1.24 | 736 |
2024-08-01 | $515,000 (6.5%) | $719,242 (5.3%) | 1.20 | 781 |
2024-09-01 | $502,500 (4.5%) | $710,858 (6.0%) | 0.00 | 793 |
Gainesville's median listing price comes in at 0% of the national average.
Gainesville's average listing price for 2024-09-01 was $710,858, a difference of $39,894 (6.0%) versus the prior year and $-8,384 versus the prior month.
For the 2024-09-01 period, Gainesville had 793 MLS listings, a difference of 12 listings (2%) versus the prior month and 263 listings (50%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Gainesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 80 days | 2,575 sqft |
2018-02-01 | 78 days | 2,623 sqft |
2018-03-01 | 60 days | 2,642 sqft |
2018-04-01 | 60 days | 2,662 sqft |
2018-05-01 | 59 days | 2,675 sqft |
2018-06-01 | 71 days | 2,765 sqft |
2018-07-01 | 77 days | 2,729 sqft |
2018-08-01 | 78 days | 2,782 sqft |
2018-09-01 | 72 days | 2,780 sqft |
2018-10-01 | 75 days | 2,674 sqft |
2018-11-01 | 79 days | 2,665 sqft |
2018-12-01 | 86 days | 2,637 sqft |
2019-01-01 | 86 days | 2,665 sqft |
2019-02-01 | 79 days | 2,675 sqft |
2019-03-01 | 76 days | 2,723 sqft |
2019-04-01 | 72 days | 2,722 sqft |
2019-05-01 | 64 days | 2,718 sqft |
2019-06-01 | 65 days | 2,660 sqft |
2019-07-01 | 74 days | 2,681 sqft |
2019-08-01 | 78 days | 2,681 sqft |
2019-09-01 | 80 days | 2,656 sqft |
2019-10-01 | 78 days | 2,619 sqft |
2019-11-01 | 78 days | 2,600 sqft |
2019-12-01 | 80 days | 2,600 sqft |
2020-01-01 | 77 days | 2,570 sqft |
2020-02-01 | 68 days | 2,575 sqft |
2020-03-01 | 56 days | 2,667 sqft |
2020-04-01 | 59 days | 2,670 sqft |
2020-05-01 | 74 days | 2,675 sqft |
2020-06-01 | 81 days | 2,752 sqft |
2020-07-01 | 67 days | 2,714 sqft |
2020-08-01 | 60 days | 2,747 sqft |
2020-09-01 | 59 days | 2,766 sqft |
2020-10-01 | 52 days | 2,711 sqft |
2020-11-01 | 55 days | 2,651 sqft |
2020-12-01 | 66 days | 2,673 sqft |
2021-01-01 | 67 days | 2,692 sqft |
2021-02-01 | 43 days | 2,728 sqft |
2021-03-01 | 38 days | 2,566 sqft |
2021-04-01 | 41 days | 2,846 sqft |
2021-05-01 | 33 days | 2,830 sqft |
2021-06-01 | 33 days | 2,622 sqft |
2021-07-01 | 31 days | 2,640 sqft |
2021-08-01 | 42 days | 2,604 sqft |
2021-09-01 | 48 days | 2,618 sqft |
2021-10-01 | 53 days | 2,679 sqft |
2021-11-01 | 51 days | 2,691 sqft |
2021-12-01 | 58 days | 2,550 sqft |
2022-01-01 | 60 days | 2,500 sqft |
2022-02-01 | 33 days | 2,447 sqft |
2022-03-01 | 36 days | 2,527 sqft |
2022-04-01 | 34 days | 2,620 sqft |
2022-05-01 | 31 days | 2,534 sqft |
2022-06-01 | 30 days | 2,659 sqft |
2022-07-01 | 35 days | 2,574 sqft |
2022-08-01 | 47 days | 2,535 sqft |
2022-09-01 | 51 days | 2,507 sqft |
2022-10-01 | 54 days | 2,500 sqft |
2022-11-01 | 65 days | 2,505 sqft |
2022-12-01 | 77 days | 2,528 sqft |
2023-01-01 | 87 days | 2,566 sqft |
2023-02-01 | 58 days | 2,482 sqft |
2023-03-01 | 44 days | 2,453 sqft |
2023-04-01 | 42 days | 2,506 sqft |
2023-05-01 | 39 days | 2,562 sqft |
2023-06-01 | 37 days | 2,538 sqft |
2023-07-01 | 44 days | 2,543 sqft |
2023-08-01 | 47 days | 2,523 sqft |
2023-09-01 | 49 days | 2,470 sqft |
2023-10-01 | 47 days | 2,503 sqft |
2023-11-01 | 51 days | 2,498 sqft |
2023-12-01 | 58 days | 2,470 sqft |
2024-01-01 | 60 days | 2,556 sqft |
2024-02-01 | 47 days | 2,562 sqft |
2024-03-01 | 45 days | 2,621 sqft |
2024-04-01 | 44 days | 2,623 sqft |
2024-05-01 | 37 days | 2,648 sqft |
2024-06-01 | 42 days | 2,651 sqft |
2024-07-01 | 44 days | 2,580 sqft |
2024-08-01 | 49 days | 2,541 sqft |
2024-09-01 | 0 days | 2,504 sqft |
Gainesville's median square footage for active listings during the 2024-09-01 period was 2,504 sqft. One year prior, the average listing was 2,470 sqft.