Georgetown FHA Loan Rates, Closing Costs & Stats

Georgetown, SC

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.

Georgetown's 54 lenders originated 144 FHA loans during 2022. The total origination value was $33,430,000, with an average FHA loan value of $232,153.

Georgetown FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Georgetown averaged -0.83% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

Georgetown's average FHA mortgage closing costs are $7,710.

The average rate for the prior week (2023-11-17) was 6.77% and one month ago for the week of 2023-10-20, the average rate was 6.78%.

The average rate one year ago was 6%.

For refis of the same type during the week of 2023-11-24, the average rate was -1.28%.

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

Georgetown 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 Georgetown level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 18 4.53% $10,474
GUILD MORTGAGE COMPANY 10 4.73% $11,194
GUARANTEED RATE, INC. 8 3.84% $9,143
UNITED WHOLESALE MORTGAGE, LLC 6 4.46% $9,913
MOVEMENT MORTGAGE, LLC 6 4.19% $8,751
LOANDEPOT.COM, LLC 6 4.89% $9,659
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 4.62% $11,425
Servion, Inc. 3 4.67% $5,589
CMG MORTGAGE, INC. 3 4.79% $8,031
CALCON MUTUAL MORTGAGE LLC 3 4.71% $15,286
FINANCE OF AMERICA MORTGAGE LLC 3 4.13% $8,974
VILLAGE CAPITAL MORTGAGE 2 4.75% $5,490
CARDINAL FINANCIAL 2 4.31% $21,259
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.50% $7,460
Gateway First Bank 2 6.00% $5,520
GSF Mortgage Corporation 2 6.06% $7,603
HOME POINT FINANCIAL CORPORATION 2 5.00% $7,192
Mr. Cooper ( Nationstar Mortgage ) 2 4.06% $12,366
Nations Lending Corporation 2 4.50% $10,181
SOUTHWEST FUNDING, LP 2 6.19% $8,219
T2 FINANCIAL LLC 2 5.25% $12,249
US MORTGAGE CORPORATION 2 5.00% $6,642
VANDERBILT MORTGAGE AND FINANCE, INC. 2 5.44% $9,517
FREEDOM MORTGAGE CORPORATION 1 4.75% $8,691
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.75% $23,912
SOUTHPOINT FINANCIAL SERVICES, INC. 1 3.50% $7,918
Bank of America 1 2.25% $1,993
Ameris Bank 1 5.13% $10,128
AMERICAN FINANCING CORPORATION 1 3.88% $7,785
HOMESTAR FINANCIAL CORPORATION 1 4.25% $2,634
LIBERTY HOME MORTGAGE CORPORATION 1 5.63% $8,885
AMERISAVE MORTGAGE CORPORATION 1 5.25% $7,824
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $5,165
AmeriHome Mortgage Company, LLC 1 4.63% $12,329
SUN WEST MORTGAGE COMPANY, INC. 1 3.38% $11,084
MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $6,862
NATIONS DIRECT MORTGAGE, LLC 1 5.13% $5,000
Alcova Mortgage LLC 1 5.88% $10,895
NATIONWIDE MORTGAGE BANKERS, INC. 1 5.75% $19,597
NFM, INC. 1 4.75% $16,899
NTFN, INC. 1 2.75% $9,214
OPEN MORTGAGE, LLC 1 5.13% $17,681
PENNYMAC LOAN SERVICES, LLC 1 4.38% $10,512
American Security Mortgage Corp. 1 4.75% $11,456
Carrington Mortgage Services, LLC 1 6.13% $12,635
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 3.88% $8,570
CAROLINA ONE MORTGAGE, LLC 1 3.75% $9,887
Credence Funding Corporation 1 5.13% $14,494
EAGLE HOME MORTGAGE, LLC 1 5.63% $12,673
Renasant Bank 1 5.25% $6,263
Fifth Third Bank 1 5.00% $6,537
CALIBER HOME LOANS, INC. 1 5.13% $8,640
First-Citizens Bank & Trust Company 1 3.25% $10,127
Flagstar Bank, FSB 1 6.61% $16,902

The top Georgetown FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 18 FHA loans originated. Their average total fees are $10,474, which is $720 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Georgetown FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($10,474), GUILD MORTGAGE COMPANY ($11,194), .

The lowest rate Georgetown FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.53%), GUILD MORTGAGE COMPANY (4.73%), .

Georgetown FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Georgetown (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 $389,750 (9.9%) $580,223 (6.2%) 0.00 813
2018-02-01 $372,450 (2.7%) $549,377 (-0.4%) 0.00 861
2018-03-01 $379,000 (3.6%) $547,061 (-1.1%) 0.00 918
2018-04-01 $383,450 (3.7%) $559,797 (-0.1%) 0.00 915
2018-05-01 $377,450 (-0.1%) $555,478 (-2.0%) 0.00 942
2018-06-01 $373,950 (-1.9%) $558,663 (-2.7%) 0.00 926
2018-07-01 $393,725 (-1.3%) $581,753 (-1.0%) 0.00 893
2018-08-01 $399,450 (0.0%) $598,005 (2.2%) 0.00 891
2018-09-01 $399,000 (-0.2%) $586,703 (-0.8%) 0.00 896
2018-10-01 $398,125 (-0.5%) $583,435 (-1.0%) 0.00 903
2018-11-01 $383,125 (-4.1%) $564,588 (-2.9%) 0.00 937
2018-12-01 $369,445 (-7.4%) $552,314 (-6.0%) 0.00 941
2019-01-01 $369,900 (-5.1%) $545,498 (-6.0%) 0.00 899
2019-02-01 $388,279 (4.3%) $561,686 (2.2%) 0.00 886
2019-03-01 $393,671 (3.9%) $653,610 (19.5%) 0.00 911
2019-04-01 $399,000 (4.1%) $657,055 (17.4%) 0.00 929
2019-05-01 $398,750 (5.6%) $573,409 (3.2%) 0.00 917
2019-06-01 $399,900 (6.9%) $577,335 (3.3%) 0.00 893
2019-07-01 $415,673 (5.6%) $578,390 (-0.6%) 0.00 876
2019-08-01 $417,387 (4.5%) $577,135 (-3.5%) 0.00 854
2019-09-01 $407,551 (2.1%) $570,080 (-2.8%) 0.00 843
2019-10-01 $399,950 (0.5%) $565,747 (-3.0%) 0.00 836
2019-11-01 $399,900 (4.4%) $573,371 (1.6%) 0.00 812
2019-12-01 $390,750 (5.8%) $566,387 (2.6%) 0.00 804
2020-01-01 $386,950 (4.6%) $566,482 (3.9%) 0.00 773
2020-02-01 $379,900 (-2.2%) $554,941 (-1.2%) 0.00 806
2020-03-01 $379,900 (-3.5%) $557,775 (-14.7%) 0.00 788
2020-04-01 $383,225 (-4.0%) $554,560 (-15.6%) 0.00 782
2020-05-01 $384,900 (-3.5%) $557,212 (-2.8%) 0.00 763
2020-06-01 $383,473 (-4.1%) $545,457 (-5.5%) 0.00 714
2020-07-01 $385,604 (-7.2%) $560,252 (-3.1%) 0.00 650
2020-08-01 $359,900 (-13.8%) $548,016 (-5.1%) 0.00 608
2020-09-01 $330,850 (-18.8%) $527,424 (-7.5%) 0.00 582
2020-10-01 $329,250 (-17.7%) $523,464 (-7.5%) 0.00 585
2020-11-01 $349,500 (-12.6%) $526,876 (-8.1%) 0.00 567
2020-12-01 $336,975 (-13.8%) $531,521 (-6.2%) 0.00 553
2021-01-01 $324,900 (-16.0%) $539,161 (-4.8%) 0.00 503
2021-02-01 $333,036 (-12.3%) $563,421 (1.5%) 0.00 443
2021-03-01 $339,900 (-10.5%) $584,473 (4.8%) 0.00 356
2021-04-01 $347,500 (-9.3%) $631,614 (13.9%) 0.00 319
2021-05-01 $384,500 (-0.1%) $677,341 (21.6%) 0.00 268
2021-06-01 $382,000 (-0.4%) $677,102 (24.1%) 0.00 252
2021-07-01 $400,000 (3.7%) $724,567 (29.3%) 0.00 261
2021-08-01 $399,924 (11.1%) $688,027 (25.6%) 0.00 289
2021-09-01 $410,950 (24.2%) $691,538 (31.1%) 0.00 289
2021-10-01 $399,900 (21.5%) $701,118 (33.9%) 0.00 282
2021-11-01 $388,503 (11.2%) $662,852 (25.8%) 0.00 291
2021-12-01 $361,250 (7.2%) $668,529 (25.8%) 0.00 283
2022-01-01 $389,000 (19.7%) $701,672 (30.1%) 0.00 237
2022-02-01 $363,950 (9.3%) $715,556 (27.0%) 0.00 182
2022-03-01 $399,000 (17.4%) $743,853 (27.3%) 0.00 169
2022-04-01 $425,000 (22.3%) $765,810 (21.3%) 0.00 176
2022-05-01 $438,437 (14.0%) $724,204 (6.9%) 0.00 201
2022-06-01 $484,950 (27.0%) $752,712 (11.2%) 0.00 230
2022-07-01 $484,000 (21.0%) $748,563 (3.3%) 0.00 245
2022-08-01 $499,529 (24.9%) $777,349 (13.0%) 0.00 267
2022-09-01 $504,675 (22.8%) $772,350 (11.7%) 0.00 249
2022-10-01 $529,998 (32.5%) $771,100 (10.0%) 0.00 238
2022-11-01 $490,725 (26.3%) $713,726 (7.7%) 0.00 248
2022-12-01 $445,000 (23.2%) $667,453 (-0.2%) 0.00 244
2023-01-01 $476,000 (22.4%) $671,795 (-4.3%) 0.00 255
2023-02-01 $459,993 (26.4%) $702,994 (-1.8%) 0.00 259
2023-03-01 $462,495 (15.9%) $683,458 (-8.1%) 0.00 281
2023-04-01 $459,990 (8.2%) $701,975 (-8.3%) 0.00 292
2023-05-01 $431,975 (-1.5%) $679,696 (-6.2%) 0.00 274
2023-06-01 $444,950 (-8.3%) $671,904 (-10.7%) 0.00 280
2023-07-01 $462,400 (-4.5%) $674,133 (-9.9%) 0.00 282
2023-08-01 $488,200 (-2.3%) $715,023 (-8.0%) 0.00 284
2023-09-01 $484,500 (-4.0%) $742,244 (-3.9%) 0.00 309
2023-10-01 $492,348 (-7.1%) $765,198 (-0.8%) 0.00 332
Georgetown's median listing price for 2023-10-01 was $492,348, a difference of $-37,650 (-7.1%) versus the prior year and $7,848 versus the prior month.

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

Georgetown's average listing price for 2023-10-01 was $765,198, a difference of $-5,902 (-0.8%) versus the prior year and $22,954 versus the prior month.

For the 2023-10-01 period, Georgetown had 332 MLS listings, a difference of 23 listings (7%) versus the prior month and 94 listings (39%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Georgetown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,101 sqft
2018-02-01 0 days 2,089 sqft
2018-03-01 0 days 2,101 sqft
2018-04-01 0 days 2,101 sqft
2018-05-01 0 days 2,101 sqft
2018-06-01 0 days 2,101 sqft
2018-07-01 0 days 2,101 sqft
2018-08-01 0 days 2,201 sqft
2018-09-01 0 days 2,201 sqft
2018-10-01 0 days 2,201 sqft
2018-11-01 0 days 2,101 sqft
2018-12-01 0 days 2,001 sqft
2019-01-01 0 days 2,001 sqft
2019-02-01 0 days 2,101 sqft
2019-03-01 0 days 2,058 sqft
2019-04-01 0 days 2,001 sqft
2019-05-01 0 days 1,994 sqft
2019-06-01 0 days 2,001 sqft
2019-07-01 0 days 2,085 sqft
2019-08-01 0 days 2,079 sqft
2019-09-01 0 days 2,063 sqft
2019-10-01 0 days 2,052 sqft
2019-11-01 0 days 2,051 sqft
2019-12-01 0 days 2,013 sqft
2020-01-01 0 days 2,022 sqft
2020-02-01 0 days 1,951 sqft
2020-03-01 0 days 1,950 sqft
2020-04-01 0 days 1,950 sqft
2020-05-01 0 days 1,950 sqft
2020-06-01 0 days 1,950 sqft
2020-07-01 0 days 1,950 sqft
2020-08-01 0 days 1,901 sqft
2020-09-01 0 days 1,850 sqft
2020-10-01 0 days 1,850 sqft
2020-11-01 0 days 1,849 sqft
2020-12-01 0 days 1,838 sqft
2021-01-01 0 days 1,846 sqft
2021-02-01 0 days 1,872 sqft
2021-03-01 0 days 1,851 sqft
2021-04-01 0 days 1,911 sqft
2021-05-01 0 days 2,016 sqft
2021-06-01 0 days 1,983 sqft
2021-07-01 0 days 1,984 sqft
2021-08-01 0 days 2,016 sqft
2021-09-01 0 days 2,025 sqft
2021-10-01 0 days 2,007 sqft
2021-11-01 0 days 1,990 sqft
2021-12-01 0 days 1,935 sqft
2022-01-01 0 days 1,939 sqft
2022-02-01 0 days 1,925 sqft
2022-03-01 0 days 1,890 sqft
2022-04-01 0 days 1,900 sqft
2022-05-01 0 days 2,033 sqft
2022-06-01 0 days 2,176 sqft
2022-07-01 0 days 2,155 sqft
2022-08-01 0 days 2,190 sqft
2022-09-01 0 days 2,168 sqft
2022-10-01 0 days 2,174 sqft
2022-11-01 0 days 2,102 sqft
2022-12-01 0 days 2,038 sqft
2023-01-01 0 days 2,107 sqft
2023-02-01 0 days 2,086 sqft
2023-03-01 0 days 2,102 sqft
2023-04-01 0 days 2,056 sqft
2023-05-01 0 days 1,873 sqft
2023-06-01 0 days 1,884 sqft
2023-07-01 0 days 1,850 sqft
2023-08-01 0 days 1,895 sqft
2023-09-01 0 days 1,884 sqft
2023-10-01 0 days 1,874 sqft
Georgetown's median listing age (time on market) for 2023-10-01 was 0 days.

Georgetown's median square footage for active listings during the 2023-10-01 period was 1,874 sqft. One year prior, the average listing was 2,174 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).