Jefferson FHA Loan Rates, Closing Costs & Stats

Jefferson, 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.

    Jefferson's 102 lenders originated 832 FHA loans during 2021. The total origination value was $199,920,000, with an average FHA loan value of $240,288.

    Jefferson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Jefferson averaged 6.31% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

    Jefferson's average FHA mortgage closing costs are $7,266.

    The average rate for the prior week (2022-11-25) was 6.42% and one month ago for the week of 2022-10-28, the average rate was 6.96%.

    The average rate one year ago was 3.3%.

    For refis of the same type during the week of 2022-12-02, the average rate was 5.99%.

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

    Jefferson 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 Jefferson level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 83 2.83% $7,584
    HOMESTAR FINANCIAL CORPORATION 74 3.17% $7,096
    QUICKEN LOANS, LLC 66 2.70% $6,622
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 40 3.17% $8,735
    LAKEVIEW LOAN SERVICING, LLC 33 2.99% $4,825
    BROKER SOLUTIONS, INC. 30 3.45% $8,884
    AMERICAN FINANCIAL NETWORK, INC. 28 3.21% $12,560
    PENNYMAC LOAN SERVICES, LLC 28 3.10% $4,992
    Mr. Cooper ( Nationstar Mortgage ) 25 3.36% $3,640
    FREEDOM MORTGAGE CORPORATION 25 2.83% $5,096
    INSPIRE HOME LOANS INC. 23 3.03% $9,056
    VANDERBILT MORTGAGE AND FINANCE, INC. 15 2.82% $9,766
    MOVEMENT MORTGAGE, LLC 15 3.33% $7,276
    GUARANTEED RATE, INC. 13 3.20% $8,634
    US MORTGAGE CORPORATION 11 3.47% $10,383
    UNITED WHOLESALE MORTGAGE, LLC 11 2.87% $7,883
    NEWREZ LLC 11 3.12% $4,510
    HOMEOWNERS FINANCIAL GROUP USA, LLC 9 3.39% $10,562
    CALIBER HOME LOANS, INC. 9 2.76% $8,326
    ACOPIA, LLC 9 3.29% $8,791
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 9 3.25% $12,060
    AMERISAVE MORTGAGE CORPORATION 8 3.03% $9,169
    EAGLE HOME MORTGAGE, LLC 8 3.20% $9,399
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 8 3.05% $9,230
    AmeriHome Mortgage Company, LLC 8 2.80% $6,049
    VILLAGE CAPITAL MORTGAGE 8 2.92% $2,139
    Synovus Bank 6 2.77% $7,900
    ISERVE RESIDENTIAL LENDING, LLC 5 3.30% $12,193
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 3.08% $7,375
    BANKSOUTH MORTGAGE COMPANY, LLC 5 2.55% $8,887
    Capital City Home Loans, LLC 4 2.91% $8,772
    Ameris Bank 4 3.09% $8,823
    Carrington Mortgage Services, LLC 4 3.41% $6,945
    MILEND, INC. 4 2.88% $8,432
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.40% $9,542
    Regions Bank 4 2.91% $8,793
    STOCKTON MORTGAGE CORPORATION 4 3.47% $9,342
    THE MORTGAGE FIRM, INC. 3 3.35% $10,966
    CMG MORTGAGE, INC. 3 3.67% $9,560
    DAS Acquisition Company, LLC 3 3.08% $8,160
    FBC MORTGAGE, LLC 3 2.79% $5,665
    LOANDEPOT.COM, LLC 3 3.24% $8,492
    EVERETT FINANCIAL, INC. 3 3.71% $6,448
    CERTAINTY HOME LOANS, LLC 3 2.91% $8,615
    PLANET HOME LENDING, LLC 3 2.67% $4,765
    Prosperity Home Mortgage, LLC 3 3.13% $8,679
    HOMESIDE FINANCIAL, LLC 2 2.63% $8,454
    Nations Lending Corporation 2 3.44% $13,301
    NATIONWIDE MORTGAGE BANKERS, INC. 2 3.06% $11,729
    Magnolia Bank 2 2.81% $9,454
    CALCON MUTUAL MORTGAGE LLC 2 3.75% $7,375
    Paramount Residential Mortgage Group, Inc. 2 3.06% $9,417
    CROSSCOUNTRY MORTGAGE, LLC 2 3.25% $12,345
    InterContinental Capital Group, Inc 2 2.63% $12,171
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.38% $11,677
    RADIUS FINANCIAL GROUP INC. 2 2.87% $8,385
    MID AMERICA MORTGAGE, INC. 2 2.94% $3,547
    First Federal Bank 2 3.25% $9,834
    SHELTER HOME MORTGAGE, LLC 2 3.06% $9,173
    Lakeview Community Capital, LLC 2 2.81% $5,204
    SOUTHPOINT FINANCIAL SERVICES, INC. 2 2.62% $13,268
    Equity Prime Mortgage LLC 2 3.50% $10,891
    LENOX FINANCIAL MORTGAGE CORPORATION 2 2.69% $9,065
    Cf Bank 1 3.25% $5,444
    South State Bank 1 2.88% $9,552
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $8,541
    Amerifirst Financial, Inc. 1 3.25% $14,011
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.00% $7,454
    The Federal Savings Bank 1 2.88% $11,241
    TOP FLITE FINANCIAL, INC. 1 3.25% $10,358
    Truist 1 3.13% $9,073
    UNION CAPITAL MORTGAGE CORPORATION 1 3.25% $10,591
    Flagstar Bank, FSB 1 2.25% $6,722
    FLAT BRANCH MORTGAGE, INC. 1 3.63% $8,058
    First Option Mortgage, LLC 1 3.13% $9,187
    GUARANTEED RATE AFFINITY, LLC 1 3.00% $10,949
    GENEVA FINANCIAL, LLC 1 3.13% $8,278
    First Home Bank 1 3.50% $5,468
    GUARANTY HOME MORTGAGE CORPORATION 1 2.63% $8,605
    GUILD MORTGAGE COMPANY 1 2.88% $6,364
    First Guaranty Mortgage Corporation 1 2.88% $6,008
    HOME POINT FINANCIAL CORPORATION 1 2.50% $7,915
    HOMESPIRE MORTGAGE CORPORATION 1 3.00% $9,234
    FIRST COMMUNITY MORTGAGE, INC. 1 3.25% $9,783
    Hometown Equity Mortgage, LLC 1 3.13% $7,135
    FINANCE OF AMERICA MORTGAGE LLC 1 2.50% $13,368
    Ixonia Bank 1 3.00% $11,584
    LOANPAL, LLC 1 3.00% $9,648
    MEMBER FIRST MORTGAGE, LLC 1 2.50% $6,643
    MIDLAND MORTGAGE CORPORATION 1 3.00% $7,674
    Atlantic Coast Mortgage, LLC 1 2.38% $5,779
    MORTGAGE INVESTORS GROUP, INC. 1 3.50% $8,272
    Mortgage Research Center, LLC 1 2.88% $4,049
    DIRECT LENDERS, LLC 1 3.63% $11,017
    M&T Bank 1 3.50% $8,721
    NATIONS DIRECT MORTGAGE, LLC 1 2.50% $10,629
    PANORAMA MORTGAGE GROUP, LLC 1 4.63% $13,772
    ANGEL OAK HOME LOANS LLC 1 3.25% $11,054
    VICTORY MORTGAGE, L.L.C. 1 2.50% $8,149
    RELIANCE FIRST CAPITAL, LLC 1 2.88% $15,945
    Residential Mortgage Solutions, Inc. 1 2.75% $9,031
    SIRVA MORTGAGE, INC. 1 2.38% $4,900

    The top Jefferson FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 83 FHA loans originated. Their average total fees are $7,584, which is $488 higher than the next largest lender, HOMESTAR FINANCIAL CORPORATION.

    The lowest fee Jefferson FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($3,640), NEWREZ LLC ($4,510), LAKEVIEW LOAN SERVICING, LLC ($4,825), PENNYMAC LOAN SERVICES, LLC ($4,992) and FREEDOM MORTGAGE CORPORATION ($5,096).

    The lowest rate Jefferson FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.70%), VANDERBILT MORTGAGE AND FINANCE, INC. (2.82%), FREEDOM MORTGAGE CORPORATION (2.83%), DHI MORTGAGE COMPANY, LTD. (2.83%) and UNITED WHOLESALE MORTGAGE, LLC (2.87%).

    Jefferson FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    JEFFERSON, GA JACKSON 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Jefferson (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 $270,785 (15.7%) $317,584 (16.3%) 0.00 529
    2018-02-01 $266,975 (11.6%) $314,094 (11.1%) 0.00 539
    2018-03-01 $274,015 (11.7%) $320,073 (11.6%) 0.00 476
    2018-04-01 $289,725 (16.4%) $334,151 (15.5%) 0.00 453
    2018-05-01 $294,708 (17.9%) $342,119 (17.3%) 0.00 427
    2018-06-01 $296,475 (15.8%) $349,206 (17.3%) 0.00 426
    2018-07-01 $285,149 (12.0%) $342,046 (16.2%) 0.00 467
    2018-08-01 $282,215 (10.7%) $336,306 (12.2%) 0.00 486
    2018-09-01 $284,962 (9.4%) $334,684 (11.8%) 0.00 495
    2018-10-01 $276,711 (5.4%) $330,548 (9.5%) 0.00 613
    2018-11-01 $276,189 (5.2%) $327,608 (7.4%) 0.00 613
    2018-12-01 $275,558 (4.3%) $328,855 (5.8%) 0.00 593
    2019-01-01 $279,723 (3.3%) $330,739 (4.1%) 0.00 546
    2019-02-01 $289,000 (8.3%) $342,721 (9.1%) 0.00 538
    2019-03-01 $282,188 (3.0%) $328,625 (2.7%) 0.00 606
    2019-04-01 $274,080 (-5.4%) $308,320 (-7.7%) 0.00 679
    2019-05-01 $274,714 (-6.8%) $306,965 (-10.3%) 0.00 631
    2019-06-01 $266,335 (-10.2%) $306,951 (-12.1%) 0.00 640
    2019-07-01 $268,785 (-5.7%) $325,731 (-4.8%) 0.00 637
    2019-08-01 $267,355 (-5.3%) $317,230 (-5.7%) 0.00 648
    2019-09-01 $266,536 (-6.5%) $306,329 (-8.5%) 0.00 628
    2019-10-01 $272,991 (-1.3%) $317,830 (-3.9%) 0.00 555
    2019-11-01 $280,759 (1.7%) $332,545 (1.5%) 0.00 463
    2019-12-01 $284,643 (3.3%) $326,519 (-0.7%) 0.00 432
    2020-01-01 $284,925 (1.9%) $324,561 (-1.9%) 0.00 410
    2020-02-01 $285,000 (-1.4%) $331,481 (-3.3%) 0.00 405
    2020-03-01 $283,743 (0.6%) $330,154 (0.5%) 0.00 382
    2020-04-01 $285,659 (4.2%) $328,863 (6.7%) 0.00 414
    2020-05-01 $290,000 (5.6%) $338,011 (10.1%) 0.00 411
    2020-06-01 $300,256 (12.7%) $350,333 (14.1%) 0.00 371
    2020-07-01 $301,567 (12.2%) $354,860 (8.9%) 0.00 362
    2020-08-01 $306,670 (14.7%) $354,658 (11.8%) 0.00 352
    2020-09-01 $315,093 (18.2%) $360,339 (17.6%) 0.00 314
    2020-10-01 $315,185 (15.5%) $358,024 (12.7%) 0.00 290
    2020-11-01 $313,009 (11.5%) $368,219 (10.7%) 0.00 266
    2020-12-01 $305,400 (7.3%) $374,412 (14.7%) 0.00 252
    2021-01-01 $301,625 (5.9%) $375,989 (15.9%) 0.00 217
    2021-02-01 $314,581 (10.4%) $399,207 (20.4%) 0.00 173
    2021-03-01 $317,813 (12.0%) $414,313 (25.5%) 0.00 143
    2021-04-01 $332,500 (16.4%) $419,295 (27.5%) 0.00 137
    2021-05-01 $349,950 (20.7%) $433,205 (28.2%) 0.00 132
    2021-06-01 $370,000 (23.2%) $450,357 (28.6%) 0.00 156
    2021-07-01 $379,900 (26.0%) $469,334 (32.3%) 0.00 173
    2021-08-01 $379,450 (23.7%) $461,084 (30.0%) 0.00 207
    2021-09-01 $401,518 (27.4%) $475,641 (32.0%) 0.00 238
    2021-10-01 $407,154 (29.2%) $477,530 (33.4%) 0.00 247
    2021-11-01 $421,707 (34.7%) $479,585 (30.2%) 0.00 241
    2021-12-01 $444,990 (45.7%) $493,783 (31.9%) 0.00 230
    2022-01-01 $467,495 (55.0%) $525,391 (39.7%) 0.00 168
    2022-02-01 $456,810 (45.2%) $528,209 (32.3%) 0.00 155
    2022-03-01 $465,840 (46.6%) $539,720 (30.3%) 0.00 154
    2022-04-01 $475,000 (42.9%) $555,166 (32.4%) 0.00 167
    2022-05-01 $487,340 (39.3%) $564,608 (30.3%) 0.00 216
    2022-06-01 $476,009 (28.7%) $557,464 (23.8%) 0.00 268
    2022-07-01 $470,146 (23.8%) $554,303 (18.1%) 0.00 353
    2022-08-01 $470,037 (23.9%) $549,136 (19.1%) 0.00 395
    2022-09-01 $471,725 (17.5%) $533,605 (12.2%) 0.00 430
    2022-10-01 $450,000 (10.5%) $516,050 (8.1%) 0.00 469
    2022-11-01 $439,975 (4.3%) $521,789 (8.8%) 0.00 460
    Jefferson's median listing price for 2022-11-01 was $439,975, a difference of $18,268 (4.3%) versus the prior year and $-10,025 versus the prior month.

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

    Jefferson's average listing price for 2022-11-01 was $521,789, a difference of $42,204 (8.8%) versus the prior year and $5,739 versus the prior month.

    For the 2022-11-01 period, Jefferson had 460 MLS listings, a difference of -9 listings (-2%) versus the prior month and 219 listings (91%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Jefferson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,586 sqft
    2018-02-01 0 days 2,579 sqft
    2018-03-01 0 days 2,550 sqft
    2018-04-01 0 days 2,580 sqft
    2018-05-01 0 days 2,565 sqft
    2018-06-01 0 days 2,580 sqft
    2018-07-01 0 days 2,570 sqft
    2018-08-01 0 days 2,538 sqft
    2018-09-01 0 days 2,580 sqft
    2018-10-01 0 days 2,554 sqft
    2018-11-01 0 days 2,541 sqft
    2018-12-01 0 days 2,525 sqft
    2019-01-01 0 days 2,580 sqft
    2019-02-01 0 days 2,596 sqft
    2019-03-01 0 days 2,583 sqft
    2019-04-01 0 days 2,550 sqft
    2019-05-01 0 days 2,581 sqft
    2019-06-01 0 days 2,563 sqft
    2019-07-01 0 days 2,559 sqft
    2019-08-01 0 days 2,561 sqft
    2019-09-01 0 days 2,534 sqft
    2019-10-01 0 days 2,511 sqft
    2019-11-01 0 days 2,515 sqft
    2019-12-01 0 days 2,505 sqft
    2020-01-01 0 days 2,514 sqft
    2020-02-01 0 days 2,504 sqft
    2020-03-01 0 days 2,500 sqft
    2020-04-01 0 days 2,498 sqft
    2020-05-01 0 days 2,493 sqft
    2020-06-01 0 days 2,506 sqft
    2020-07-01 0 days 2,539 sqft
    2020-08-01 0 days 2,550 sqft
    2020-09-01 0 days 2,561 sqft
    2020-10-01 0 days 2,508 sqft
    2020-11-01 0 days 2,505 sqft
    2020-12-01 0 days 2,476 sqft
    2021-01-01 0 days 2,500 sqft
    2021-02-01 0 days 2,383 sqft
    2021-03-01 0 days 2,467 sqft
    2021-04-01 0 days 2,394 sqft
    2021-05-01 0 days 2,378 sqft
    2021-06-01 0 days 2,386 sqft
    2021-07-01 0 days 2,366 sqft
    2021-08-01 0 days 2,506 sqft
    2021-09-01 0 days 2,555 sqft
    2021-10-01 0 days 2,533 sqft
    2021-11-01 0 days 2,639 sqft
    2021-12-01 0 days 2,700 sqft
    2022-01-01 0 days 2,695 sqft
    2022-02-01 0 days 2,590 sqft
    2022-03-01 0 days 2,606 sqft
    2022-04-01 0 days 2,504 sqft
    2022-05-01 0 days 2,486 sqft
    2022-06-01 0 days 2,562 sqft
    2022-07-01 0 days 2,508 sqft
    2022-08-01 0 days 2,486 sqft
    2022-09-01 0 days 2,487 sqft
    2022-10-01 0 days 2,432 sqft
    2022-11-01 0 days 2,474 sqft
    Jefferson's median listing age (time on market) for 2022-11-01 was 0 days.

    Jefferson's median square footage for active listings during the 2022-11-01 period was 2,474 sqft. One year prior, the average listing was 2,639 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).