Hinesville FHA Loan Rates, Closing Costs & Stats

HINESVILLE, 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.

    Hinesville's 74 lenders originated 339 FHA loans during 2023. The total origination value was $76,995,000, with an average FHA loan value of $227,124.

    Hinesville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Hinesville averaged 6.52% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Hinesville's average FHA mortgage closing costs are $7,540.

    The average rate for the prior week (2024-11-01) was 6.5% and one month ago for the week of 2024-10-04, the average rate was 6.02%.

    The average rate one year ago was 7.06%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.32%.

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

    Hinesville 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 Hinesville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BROKER SOLUTIONS, INC. 51 6.53% $9,096
    QUICKEN LOANS, LLC 31 6.44% $9,943
    UNITED WHOLESALE MORTGAGE, LLC 23 6.34% $12,130
    VANDERBILT MORTGAGE AND FINANCE, INC. 20 6.09% $11,380
    GUILD MORTGAGE COMPANY 14 6.50% $10,508
    GUARANTEED RATE, INC. 10 6.27% $8,963
    Plains Commerce Bank 10 6.51% $10,925
    Ameris Bank 9 6.24% $10,551
    SWBC MORTGAGE CORPORATION 8 6.95% $6,511
    MOVEMENT MORTGAGE, LLC 7 6.95% $11,586
    Flagstar Bank, FSB 6 6.82% $10,196
    SOUTHPOINT FINANCIAL SERVICES, INC. 6 6.83% $9,165
    Platinum Home Mortgage Corporation 6 6.75% $15,838
    CARDINAL FINANCIAL 6 5.96% $13,137
    Mortgage Research Center, LLC 6 7.00% $5,798
    BANKSOUTH MORTGAGE COMPANY, LLC 5 6.12% $13,968
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.03% $10,464
    HOMESTAR FINANCIAL CORPORATION 4 6.50% $6,593
    FREEDOM MORTGAGE CORPORATION 4 7.19% $11,302
    PLANET HOME LENDING, LLC 4 7.12% $13,803
    Mr. Cooper ( Nationstar Mortgage ) 4 6.31% $12,323
    AMERICAN FINANCIAL NETWORK, INC. 4 7.34% $10,882
    PENNYMAC LOAN SERVICES, LLC 3 6.46% $14,306
    CROSSCOUNTRY MORTGAGE, LLC 3 6.35% $12,205
    Prosperity Home Mortgage, LLC 3 6.46% $8,172
    Renasant Bank 3 6.29% $9,576
    ACOPIA, LLC 2 6.44% $10,713
    AMERISAVE MORTGAGE CORPORATION 2 5.63% $13,699
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 5.88% $8,150
    Citizens Bank 2 7.00% $9,032
    Colony Bank 2 6.44% $11,862
    Equity Prime Mortgage LLC 2 6.63% $10,865
    LOANDEPOT.COM, LLC 2 6.81% $9,099
    MILEND, INC. 2 6.88% $10,132
    MORTGAGE INVESTORS GROUP, INC. 2 6.19% $10,317
    Paramount Residential Mortgage Group, Inc. 2 6.19% $12,075
    THRIVE MORTGAGE, LLC 2 6.44% $11,302
    ZILLOW HOME LOANS, LLC 2 6.44% $9,587
    UNION HOME MORTGAGE CORP. 1 7.25% $10,128
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $16,285
    DAS Acquisition Company, LLC 1 8.63% $10,202
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $8,230
    COMMUNITY MORTGAGE CORPORATION 1 6.38% $11,490
    CMG MORTGAGE, INC. 1 7.25% $10,569
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $11,536
    Nations Lending Corporation 1 6.63% $8,694
    ONY GLO, INC. 1 7.63% $15,535
    U.S. Bank 1 7.63% $9,168
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.63% $10,011
    PENTAGON FEDERAL CREDIT UNION 1 5.00% $8,535
    Century Mortgage Company DBA Century Lending Company 1 6.25% $8,955
    Carrington Mortgage Services, LLC 1 6.00% $10,540
    CANOPY MORTGAGE, LLC 1 7.25% $10,523
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.13% $13,592
    CALIBER HOME LOANS, INC. 1 6.75% $8,289
    BECKAM FUNDING CORP. 1 7.25% $12,670
    Regions Bank 1 6.50% $14,133
    BAY EQUITY LLC 1 6.49% $13,119
    RESIDENTIAL BANCORP 1 5.75% $8,542
    RESIDENTIAL HOME FUNDING CORP. 1 5.63% $7,909
    Barrington Bank & Trust Company, N.A. 1 7.75% $12,862
    South State Bank 1 6.75% $11,016
    SOUTHWEST STAGE FUNDING, LLC 1 6.25% $4,389
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $12,824
    SUMMIT FUNDING, INC. 1 7.25% $7,127
    Bank of England 1 6.25% $10,974
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $15,562
    TOP FLITE FINANCIAL, INC. 1 6.63% $11,431
    HOMESIDE FINANCIAL, LLC 1 5.75% $7,699
    EVERETT FINANCIAL, INC. 1 7.13% $8,803
    INSPIRE HOME LOANS INC. 1 4.88% $7,845
    INTERLINC MORTGAGE SERVICES, LLC 1 6.63% $4,645
    TOWNE MORTGAGE COMPANY 1 5.63% $8,857
    Magnolia Bank 1 6.75% $21,713

    The top Hinesville FHA lender as defined by loan originations is BROKER SOLUTIONS, INC., with 51 FHA loans originated. Their average total fees are $9,096, which is $847 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Hinesville FHA lenders (with over 10 loans originated) are GUARANTEED RATE, INC. ($8,963), BROKER SOLUTIONS, INC. ($9,096), QUICKEN LOANS, LLC ($9,943), GUILD MORTGAGE COMPANY ($10,508) and Plains Commerce Bank ($10,925).

    The lowest rate Hinesville FHA lenders (with over 10 loans originated) are VANDERBILT MORTGAGE AND FINANCE, INC. (6.09%), GUARANTEED RATE, INC. (6.27%), UNITED WHOLESALE MORTGAGE, LLC (6.34%), QUICKEN LOANS, LLC (6.44%) and GUILD MORTGAGE COMPANY (6.50%).

    Hinesville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HINESVILLE, GA LIBERTY 2022 $420,680 $538,650 $651,050 $809,150
    HINESVILLE, GA LONG 2022 $420,680 $538,650 $651,050 $809,150
    HINESVILLE, GA LIBERTY 2023 $472,030 $604,400 $730,525 $907,900
    HINESVILLE, GA LONG 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).