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 94 lenders originated 714 FHA loans during 2023. The total origination value was $229,120,000, with an average FHA loan value of $320,896.

    Jefferson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Jefferson averaged 6.56% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Jefferson's average FHA mortgage closing costs are $8,837.

    The average rate for the prior week (2024-04-12) was 6.35% and one month ago for the week of 2024-03-15, the average rate was 6.62%.

    The average rate one year ago was 6.25%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BROKER SOLUTIONS, INC. 93 6.24% $13,965
    DHI MORTGAGE COMPANY, LTD. 54 5.35% $9,523
    QUICKEN LOANS, LLC 46 6.40% $12,336
    UNITED WHOLESALE MORTGAGE, LLC 40 6.40% $13,247
    VICTORY MORTGAGE, L.L.C. 29 6.67% $9,745
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 28 6.79% $12,863
    HOMESTAR FINANCIAL CORPORATION 25 6.35% $11,539
    MOVEMENT MORTGAGE, LLC 22 6.49% $13,166
    EVERETT FINANCIAL, INC. 20 7.11% $13,945
    VANDERBILT MORTGAGE AND FINANCE, INC. 17 5.99% $14,548
    NVR Mortgage Finance, Inc. 17 5.79% $13,831
    First Option Mortgage, LLC 14 6.89% $14,980
    AMERICAN FINANCIAL NETWORK, INC. 12 6.80% $12,862
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 12 6.24% $14,197
    GUARANTEED RATE, INC. 11 6.51% $12,519
    PENNYMAC LOAN SERVICES, LLC 10 6.14% $14,592
    FREEDOM MORTGAGE CORPORATION 10 6.59% $13,938
    Ameris Bank 10 6.16% $13,720
    HOMEOWNERS FINANCIAL GROUP USA, LLC 8 6.53% $15,369
    Paramount Residential Mortgage Group, Inc. 7 6.79% $12,125
    US MORTGAGE CORPORATION 7 6.68% $16,473
    ACADEMY MORTGAGE CORPORATION 7 6.64% $16,829
    LOANDEPOT.COM, LLC 6 5.96% $12,317
    CROSSCOUNTRY MORTGAGE, LLC 6 6.34% $14,262
    Regions Bank 6 5.96% $13,592
    GENEVA FINANCIAL, LLC 5 7.10% $16,180
    STOCKTON MORTGAGE CORPORATION 5 6.63% $13,864
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.63% $18,013
    NEWREZ LLC 5 6.45% $14,094
    AMERISAVE MORTGAGE CORPORATION 5 6.23% $19,508
    Franklin Loan Corporation 4 6.66% $18,549
    GUARANTEED RATE AFFINITY, LLC 4 6.43% $14,575
    Renasant Bank 4 5.81% $14,607
    Prosperity Home Mortgage, LLC 4 6.34% $11,842
    MORTGAGE INVESTORS GROUP, INC. 4 6.72% $10,575
    RELIANCE FIRST CAPITAL, LLC 4 6.34% $14,321
    ZILLOW HOME LOANS, LLC 3 6.17% $12,496
    Synovus Bank 3 6.54% $13,139
    Flagstar Bank, FSB 3 7.42% $17,564
    ACOPIA, LLC 3 7.00% $14,404
    VILLAGE CAPITAL MORTGAGE 3 6.21% $15,758
    United Community Bank 3 6.92% $13,335
    UNION HOME MORTGAGE CORP. 2 7.13% $11,075
    AMERICAN FINANCING CORPORATION 2 5.56% $19,268
    CARDINAL FINANCIAL 2 7.00% $13,456
    Carrington Mortgage Services, LLC 2 6.00% $18,526
    Century Mortgage Company DBA Century Lending Company 2 6.00% $11,643
    ENVOY MORTGAGE, LTD 2 6.75% $11,954
    Equity Prime Mortgage LLC 2 6.06% $19,254
    FIRST ALLIANCE HOME MORTGAGE, LLC 2 6.75% $21,552
    FIRST COMMUNITY MORTGAGE, INC. 2 7.38% $9,568
    ISERVE RESIDENTIAL LENDING, LLC 2 7.13% $14,376
    LAKEVIEW LOAN SERVICING, LLC 2 5.87% $16,069
    NBKC BANK 2 5.88% $12,857
    NFM, INC. 2 7.06% $11,707
    Plains Commerce Bank 2 5.75% $14,903
    PLAZA HOME MORTGAGE, INC. 2 7.19% $16,298
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.50% $18,353
    SUMMIT FUNDING, INC. 2 6.37% $18,924
    SUN WEST MORTGAGE COMPANY, INC. 2 6.25% $11,793
    VERITAS FUNDING, LLC 2 6.13% $18,686
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $21,211
    M&T Bank 1 6.13% $8,372
    Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $12,975
    Mortgage Research Center, LLC 1 7.50% $5,996
    Mortgage Assurance Inc. 1 7.75% $11,289
    LOANPAL, LLC 1 6.13% $15,569
    Residential Mortgage Solutions, Inc. 1 6.63% $17,641
    SANCTUARY HOME MORTGAGE LLC 1 6.75% $10,905
    SHELTER HOME MORTGAGE, LLC 1 7.25% $10,388
    HOMESTEAD FUNDING CORP. 1 5.75% $7,378
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.13% $13,489
    GUARANTY MORTGAGE SERVICES, L.L.C. 1 7.25% $13,076
    V.I.P. MORTGAGE, INC. 1 7.63% $13,232
    Wolfe Financial, Inc 1 6.88% $11,508
    SWBC MORTGAGE CORPORATION 1 6.13% $8,090
    COMMUNITY MORTGAGE CORPORATION 1 7.12% $19,163
    T2 FINANCIAL LLC 1 8.13% $18,801
    THRIVE MORTGAGE, LLC 1 6.63% $15,256
    TOP FLITE FINANCIAL, INC. 1 7.25% $11,097
    TOTAL MORTGAGE SERVICES, LLC 1 7.63% $27,010
    Truist 1 6.13% $10,854
    CityWorth Mortgage LLC 1 5.75% $28,313
    Capital City Home Loans, LLC 1 6.25% $13,129
    CALIBER HOME LOANS, INC. 1 7.63% $10,847
    U.S. Bank 1 6.13% $12,282
    BAY EQUITY LLC 1 7.25% $12,627
    BANKSOUTH MORTGAGE COMPANY, LLC 1 6.50% $13,654
    NMSI, INC. 1 6.25% $18,251
    PANORAMA MORTGAGE GROUP, LLC 1 7.25% $13,677
    NATIONS RELIABLE LENDING, LLC 1 6.75% $10,961
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $21,402
    AMERICAN FINANCIAL RESOURCES, INC. 1 8.25% $11,739
    Arvest Bank 1 6.25% $13,487

    The top Jefferson FHA lender as defined by loan originations is BROKER SOLUTIONS, INC., with 93 FHA loans originated. Their average total fees are $13,965, which is $4,443 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Jefferson FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($9,523), VICTORY MORTGAGE, L.L.C. ($9,745), HOMESTAR FINANCIAL CORPORATION ($11,539), QUICKEN LOANS, LLC ($12,336) and GUARANTEED RATE, INC. ($12,519).

    The lowest rate Jefferson FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.35%), NVR Mortgage Finance, Inc. (5.79%), VANDERBILT MORTGAGE AND FINANCE, INC. (5.99%), PENNYMAC LOAN SERVICES, LLC (6.14%) and Ameris Bank (6.16%).

    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
    JEFFERSON, GA JACKSON 2023 $472,030 $604,400 $730,525 $907,900

    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 (15.9%) $317,585 (16.3%) 0.00 527
    2018-02-01 $266,975 (11.6%) $314,082 (11.1%) 0.00 537
    2018-03-01 $274,015 (11.7%) $320,083 (11.6%) 0.00 474
    2018-04-01 $289,725 (16.4%) $334,223 (15.5%) 0.00 451
    2018-05-01 $294,804 (18.0%) $342,368 (17.4%) 0.00 426
    2018-06-01 $297,950 (16.3%) $349,470 (17.4%) 0.00 424
    2018-07-01 $285,149 (12.0%) $342,215 (16.2%) 0.00 465
    2018-08-01 $281,759 (10.5%) $336,217 (12.1%) 0.00 483
    2018-09-01 $284,923 (9.2%) $334,585 (11.7%) 0.00 492
    2018-10-01 $276,775 (5.4%) $330,681 (9.5%) 0.00 610
    2018-11-01 $276,305 (5.2%) $328,058 (7.4%) 0.00 609
    2018-12-01 $276,459 (4.6%) $329,455 (6.0%) 0.00 589
    2019-01-01 $279,900 (3.4%) $331,487 (4.4%) 0.00 544
    2019-02-01 $289,675 (8.5%) $343,644 (9.4%) 0.00 536
    2019-03-01 $282,976 (3.3%) $329,579 (3.0%) 0.00 603
    2019-04-01 $274,728 (-5.2%) $309,977 (-7.3%) 0.00 675
    2019-05-01 $274,795 (-6.8%) $307,382 (-10.2%) 0.00 628
    2019-06-01 $266,795 (-10.5%) $307,822 (-11.9%) 0.00 634
    2019-07-01 $268,751 (-5.8%) $326,523 (-4.6%) 0.00 630
    2019-08-01 $267,124 (-5.2%) $317,909 (-5.5%) 0.00 640
    2019-09-01 $265,960 (-6.7%) $306,562 (-8.4%) 0.00 620
    2019-10-01 $272,157 (-1.7%) $317,676 (-3.9%) 0.00 548
    2019-11-01 $279,925 (1.3%) $332,605 (1.4%) 0.00 459
    2019-12-01 $284,173 (2.8%) $326,742 (-0.8%) 0.00 428
    2020-01-01 $284,900 (1.8%) $324,623 (-2.1%) 0.00 405
    2020-02-01 $285,000 (-1.6%) $331,838 (-3.4%) 0.00 402
    2020-03-01 $283,743 (0.3%) $330,596 (0.3%) 0.00 379
    2020-04-01 $285,193 (3.8%) $329,166 (6.2%) 0.00 411
    2020-05-01 $289,990 (5.5%) $338,131 (10.0%) 0.00 407
    2020-06-01 $300,256 (12.5%) $350,578 (13.9%) 0.00 367
    2020-07-01 $301,327 (12.1%) $355,146 (8.8%) 0.00 357
    2020-08-01 $306,285 (14.7%) $354,956 (11.7%) 0.00 348
    2020-09-01 $315,164 (18.5%) $360,969 (17.8%) 0.00 311
    2020-10-01 $315,338 (15.9%) $358,674 (12.9%) 0.00 287
    2020-11-01 $313,204 (11.9%) $368,775 (10.9%) 0.00 264
    2020-12-01 $305,438 (7.5%) $377,255 (15.5%) 0.00 250
    2021-01-01 $303,823 (6.6%) $379,587 (16.9%) 0.00 217
    2021-02-01 $315,456 (10.7%) $402,994 (21.4%) 0.00 171
    2021-03-01 $320,725 (13.0%) $418,543 (26.6%) 0.00 141
    2021-04-01 $335,360 (17.6%) $424,934 (29.1%) 0.00 135
    2021-05-01 $352,500 (21.6%) $438,764 (29.8%) 0.00 130
    2021-06-01 $372,475 (24.1%) $453,771 (29.4%) 0.00 154
    2021-07-01 $379,950 (26.1%) $470,921 (32.6%) 0.00 169
    2021-08-01 $379,450 (23.9%) $461,446 (30.0%) 0.00 203
    2021-09-01 $404,111 (28.2%) $478,092 (32.5%) 0.00 234
    2021-10-01 $409,990 (30.0%) $480,423 (33.9%) 0.00 244
    2021-11-01 $423,366 (35.2%) $483,047 (31.0%) 0.00 237
    2021-12-01 $445,235 (45.8%) $497,587 (31.9%) 0.00 226
    2022-01-01 $471,995 (55.4%) $527,877 (39.1%) 0.00 165
    2022-02-01 $458,339 (45.3%) $532,013 (32.0%) 0.00 152
    2022-03-01 $471,185 (46.9%) $543,778 (29.9%) 0.00 152
    2022-04-01 $475,654 (41.8%) $556,629 (31.0%) 0.00 165
    2022-05-01 $487,495 (38.3%) $567,489 (29.3%) 0.00 214
    2022-06-01 $478,495 (28.5%) $559,689 (23.3%) 0.00 265
    2022-07-01 $474,829 (25.0%) $555,571 (18.0%) 0.00 352
    2022-08-01 $474,900 (25.2%) $552,361 (19.7%) 0.00 391
    2022-09-01 $472,664 (17.0%) $535,658 (12.0%) 0.00 428
    2022-10-01 $450,000 (9.8%) $517,588 (7.7%) 0.00 464
    2022-11-01 $444,613 (5.0%) $523,506 (8.4%) 0.00 457
    2022-12-01 $429,999 (-3.4%) $525,351 (5.6%) 0.00 436
    2023-01-01 $432,770 (-8.3%) $529,425 (0.3%) 0.00 389
    2023-02-01 $443,187 (-3.3%) $527,337 (-0.9%) 0.00 366
    2023-03-01 $446,848 (-5.2%) $532,029 (-2.2%) 0.00 353
    2023-04-01 $442,479 (-7.0%) $524,800 (-5.7%) 0.00 355
    2023-05-01 $446,887 (-8.3%) $532,338 (-6.2%) 0.00 345
    2023-06-01 $449,725 (-6.0%) $510,357 (-8.8%) 0.00 352
    2023-07-01 $449,973 (-5.2%) $514,114 (-7.5%) 0.00 356
    2023-08-01 $447,627 (-5.7%) $508,992 (-7.9%) 0.00 364
    2023-09-01 $448,710 (-5.1%) $496,452 (-7.3%) 0.00 374
    2023-10-01 $442,122 (-1.8%) $504,232 (-2.6%) 0.00 405
    2023-11-01 $446,302 (0.4%) $515,205 (-1.6%) 0.00 416
    2023-12-01 $444,345 (3.3%) $519,169 (-1.2%) 0.00 410
    2024-01-01 $447,327 (3.4%) $528,459 (-0.2%) 0.00 383
    2024-02-01 $444,262 (0.2%) $531,754 (0.8%) 0.00 390
    2024-03-01 $440,000 (-1.5%) $536,062 (0.8%) 0.00 407
    Jefferson's median listing price for 2024-03-01 was $440,000, a difference of $-6,848 (-1.5%) versus the prior year and $-4,262 versus the prior month.

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

    Jefferson's average listing price for 2024-03-01 was $536,062, a difference of $4,033 (0.8%) versus the prior year and $4,308 versus the prior month.

    For the 2024-03-01 period, Jefferson had 407 MLS listings, a difference of 17 listings (4%) versus the prior month and 54 listings (15%) 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 2,591 sqft
    2018-02-01 0 days 2,577 sqft
    2018-03-01 0 days 2,549 sqft
    2018-04-01 0 days 2,582 sqft
    2018-05-01 0 days 2,576 sqft
    2018-06-01 0 days 2,587 sqft
    2018-07-01 0 days 2,569 sqft
    2018-08-01 0 days 2,529 sqft
    2018-09-01 0 days 2,580 sqft
    2018-10-01 0 days 2,536 sqft
    2018-11-01 0 days 2,548 sqft
    2018-12-01 0 days 2,545 sqft
    2019-01-01 0 days 2,580 sqft
    2019-02-01 0 days 2,602 sqft
    2019-03-01 0 days 2,605 sqft
    2019-04-01 0 days 2,584 sqft
    2019-05-01 0 days 2,602 sqft
    2019-06-01 0 days 2,580 sqft
    2019-07-01 0 days 2,584 sqft
    2019-08-01 0 days 2,573 sqft
    2019-09-01 0 days 2,551 sqft
    2019-10-01 0 days 2,518 sqft
    2019-11-01 0 days 2,511 sqft
    2019-12-01 0 days 2,501 sqft
    2020-01-01 0 days 2,504 sqft
    2020-02-01 0 days 2,501 sqft
    2020-03-01 0 days 2,500 sqft
    2020-04-01 0 days 2,497 sqft
    2020-05-01 0 days 2,493 sqft
    2020-06-01 0 days 2,508 sqft
    2020-07-01 0 days 2,536 sqft
    2020-08-01 0 days 2,550 sqft
    2020-09-01 0 days 2,560 sqft
    2020-10-01 0 days 2,500 sqft
    2020-11-01 0 days 2,506 sqft
    2020-12-01 0 days 2,500 sqft
    2021-01-01 0 days 2,500 sqft
    2021-02-01 0 days 2,390 sqft
    2021-03-01 0 days 2,445 sqft
    2021-04-01 0 days 2,392 sqft
    2021-05-01 0 days 2,384 sqft
    2021-06-01 0 days 2,390 sqft
    2021-07-01 0 days 2,366 sqft
    2021-08-01 0 days 2,466 sqft
    2021-09-01 0 days 2,562 sqft
    2021-10-01 0 days 2,543 sqft
    2021-11-01 0 days 2,648 sqft
    2021-12-01 0 days 2,711 sqft
    2022-01-01 0 days 2,688 sqft
    2022-02-01 0 days 2,582 sqft
    2022-03-01 0 days 2,617 sqft
    2022-04-01 0 days 2,504 sqft
    2022-05-01 0 days 2,490 sqft
    2022-06-01 0 days 2,562 sqft
    2022-07-01 0 days 2,508 sqft
    2022-08-01 0 days 2,488 sqft
    2022-09-01 0 days 2,488 sqft
    2022-10-01 0 days 2,436 sqft
    2022-11-01 0 days 2,479 sqft
    2022-12-01 0 days 2,432 sqft
    2023-01-01 0 days 2,443 sqft
    2023-02-01 0 days 2,471 sqft
    2023-03-01 0 days 2,467 sqft
    2023-04-01 0 days 2,462 sqft
    2023-05-01 0 days 2,465 sqft
    2023-06-01 0 days 2,467 sqft
    2023-07-01 0 days 2,500 sqft
    2023-08-01 0 days 2,499 sqft
    2023-09-01 0 days 2,445 sqft
    2023-10-01 0 days 2,444 sqft
    2023-11-01 0 days 2,448 sqft
    2023-12-01 0 days 2,442 sqft
    2024-01-01 0 days 2,494 sqft
    2024-02-01 0 days 2,456 sqft
    2024-03-01 0 days 2,489 sqft
    Jefferson's median listing age (time on market) for 2024-03-01 was 0 days.

    Jefferson's median square footage for active listings during the 2024-03-01 period was 2,489 sqft. One year prior, the average listing was 2,467 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).