Gainesville FHA Loan Rates, Closing Costs & Stats

GAINESVILLE, 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.

    Gainesville's 101 lenders originated 739 FHA loans during 2024. The total origination value was $249,465,000, with an average FHA loan value of $337,571.

    Gainesville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Gainesville averaged -0.11% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Gainesville's average FHA mortgage closing costs are $9,040.

    The average rate for the prior week (2025-06-13) was 6.77% and one month ago for the week of 2025-05-16, the average rate was 6.63%.

    The average rate one year ago was 6.99%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.02%.

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

    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.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 84 5.97% $15,217
    QUICKEN LOANS, LLC 54 6.25% $14,119
    VANDERBILT MORTGAGE AND FINANCE, INC. 34 5.27% $15,271
    LOANDEPOT.COM, LLC 30 5.30% $10,734
    FREEDOM MORTGAGE CORPORATION 30 6.19% $13,107
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 29 6.57% $13,440
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.42% $14,251
    First Option Mortgage, LLC 20 6.98% $14,085
    EVERETT FINANCIAL, INC. 17 7.03% $15,574
    BROKER SOLUTIONS, INC. 17 6.37% $14,445
    HOMEOWNERS FINANCIAL GROUP USA, LLC 16 6.12% $15,811
    PULTE MORTGAGE LLC 16 4.77% $9,150
    Paramount Residential Mortgage Group, Inc. 13 6.55% $14,439
    PENNYMAC LOAN SERVICES, LLC 12 6.16% $14,023
    INSPIRE HOME LOANS INC. 11 5.69% $11,779
    CROSSCOUNTRY MORTGAGE, LLC 10 6.26% $18,199
    Equity Prime Mortgage LLC 9 6.49% $12,512
    LAKEVIEW LOAN SERVICING, LLC 9 6.44% $9,497
    BANKSOUTH MORTGAGE COMPANY, LLC 8 6.64% $14,180
    Mr. Cooper ( Nationstar Mortgage ) 7 6.48% $18,687
    STOCKTON MORTGAGE CORPORATION 7 6.66% $12,570
    Ameris Bank 7 6.36% $13,068
    United Community Bank 7 6.71% $9,863
    Century Mortgage Company DBA Century Lending Company 6 6.43% $15,633
    GUARANTEED RATE, INC. 6 6.69% $14,060
    Truist 6 6.47% $10,229
    AMERISAVE MORTGAGE CORPORATION 6 6.02% $12,038
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 6 6.35% $18,291
    ACOPIA, LLC 6 6.10% $16,284
    AMERICAN FINANCIAL NETWORK, INC. 6 6.35% $14,784
    Carrington Mortgage Services, LLC 5 6.55% $18,011
    US MORTGAGE CORPORATION 5 6.63% $15,668
    GUARANTEED RATE AFFINITY, LLC 5 6.35% $15,935
    AmeriHome Mortgage Company, LLC 5 6.63% $6,754
    UNION HOME MORTGAGE CORP. 4 6.44% $13,161
    CANOPY MORTGAGE, LLC 4 7.09% $12,896
    Flagstar Bank, FSB 4 6.37% $9,677
    ZILLOW HOME LOANS, LLC 4 6.03% $11,882
    GUILD MORTGAGE COMPANY 4 5.56% $9,868
    NEWREZ LLC 4 6.44% $15,012
    HOMESIDE FINANCIAL, LLC 4 6.59% $13,632
    CARDINAL FINANCIAL 4 6.44% $13,890
    MILEND, INC. 4 6.53% $14,143
    Lakeview Community Capital, LLC 3 6.42% $10,935
    RADIUS FINANCIAL GROUP INC. 3 6.54% $14,810
    Regions Bank 3 6.33% $8,660
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.04% $14,228
    SUMMIT FUNDING, INC. 3 6.46% $15,297
    PLANET HOME LENDING, LLC 3 6.12% $7,103
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 5.79% $18,930
    Renasant Bank 3 6.21% $14,641
    South State Bank 3 6.13% $8,738
    South Pacific Financial Corporation 3 4.50% $11,874
    PANORAMA MORTGAGE GROUP, LLC 3 6.75% $14,354
    FIRST COMMUNITY MORTGAGE, INC. 3 6.62% $14,365
    First Heritage Mortgage, LLC 3 6.38% $13,763
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.33% $14,041
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.42% $14,562
    Old National Bank 2 5.63% $12,236
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 6.56% $19,424
    Franklin Loan Corporation 2 5.25% $16,541
    GMFS LLC 2 6.44% $9,849
    ISERVE RESIDENTIAL LENDING, LLC 2 6.94% $17,719
    JPMorgan Chase Bank 2 6.63% $7,592
    MID AMERICA MORTGAGE, INC. 2 7.44% $7,222
    MOVEMENT MORTGAGE, LLC 2 5.94% $10,694
    NATIONWIDE MORTGAGE BANKERS, INC. 2 7.00% $14,303
    CMG MORTGAGE, INC. 2 5.38% $19,753
    PLAZA HOME MORTGAGE, INC. 2 5.31% $20,427
    Prosperity Home Mortgage, LLC 2 6.69% $16,011
    AMERICAN FINANCING CORPORATION 2 6.12% $15,319
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.63% $10,835
    SUN WEST MORTGAGE COMPANY, INC. 2 5.50% $15,674
    VILLAGE CAPITAL MORTGAGE 2 6.50% $5,941
    Wells Fargo Bank 2 6.31% $12,192
    ROYAL UNITED MORTGAGE LLC 1 7.00% $4,334
    SeaTrust Mortgage Company 1 6.63% $12,528
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.63% $8,476
    SHELTER HOME MORTGAGE, LLC 1 6.75% $11,203
    MORTGAGE INVESTORS GROUP, INC. 1 5.99% $13,111
    Southern First Bank 1 7.25% $9,304
    Mortgage Assurance Inc. 1 6.25% $15,033
    MORIA DEVELOPMENT, INC. 1 6.63% $15,634
    Magnolia Bank 1 6.50% $15,315
    ENDEAVOR CAPITAL, LLC. 1 6.50% $9,119
    Loan Simple, Inc. 1 7.25% $14,098
    Waterstone Mortgage Corporation 1 6.75% $15,307
    SWBC MORTGAGE CORPORATION 1 6.75% $17,609
    T2 FINANCIAL LLC 1 6.25% $11,553
    The Loan Store, Inc. 1 5.49% $12,958
    THE MORTGAGE LINK, INC. 1 6.25% $13,520
    LOANPAL, LLC 1 4.88% $20,243
    Bank of America 1 6.75% $12,419
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.75% $14,182
    First Federal Bank 1 5.50% $16,006
    FBC MORTGAGE, LLC 1 3.99% $12,426
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.63% $9,385
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $8,477
    Presidential Bank, FSB 1 6.25% $18,177
    RELIANCE FIRST CAPITAL, LLC 1 6.63% $13,500
    NFM, INC. 1 6.25% $9,312

    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 $15,217, which is $1,098 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Gainesville FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC ($9,150), LOANDEPOT.COM, LLC ($10,734), INSPIRE HOME LOANS INC. ($11,779), FREEDOM MORTGAGE CORPORATION ($13,107) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($13,440).

    The lowest rate Gainesville FHA lenders (with over 10 loans originated) are PULTE MORTGAGE LLC (4.77%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.27%), LOANDEPOT.COM, LLC (5.30%), INSPIRE HOME LOANS INC. (5.69%) and UNITED WHOLESALE MORTGAGE, LLC (5.97%).

    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

    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).