Jesup FHA Loan Rates, Closing Costs & Stats

Jesup, 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.

    Jesup's 38 lenders originated 111 FHA loans during 2023. The total origination value was $22,855,000, with an average FHA loan value of $205,901.

    Jesup FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Jesup averaged 0.1% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Jesup's average FHA mortgage closing costs are $7,359.

    The average rate for the prior week (2024-11-08) was 6.61% and one month ago for the week of 2024-10-11, the average rate was 6.32%.

    The average rate one year ago was 7.26%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0%.

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

    Jesup 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 Jesup level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 17 6.45% $8,983
    VANDERBILT MORTGAGE AND FINANCE, INC. 10 6.40% $10,953
    UNITED WHOLESALE MORTGAGE, LLC 10 6.33% $9,224
    PLANET HOME LENDING, LLC 6 6.92% $11,784
    Platinum Home Mortgage Corporation 5 6.63% $11,690
    BROKER SOLUTIONS, INC. 5 6.70% $7,614
    PENNYMAC LOAN SERVICES, LLC 4 5.88% $10,046
    Plains Commerce Bank 4 6.94% $8,894
    GUILD MORTGAGE COMPANY 4 6.97% $8,885
    AMERICAN FINANCIAL NETWORK, INC. 3 7.13% $10,642
    HOMESTAR FINANCIAL CORPORATION 3 7.08% $6,893
    TOWNE MORTGAGE COMPANY 3 6.58% $8,984
    GUARANTEED RATE, INC. 2 7.19% $8,972
    BANKSOUTH MORTGAGE COMPANY, LLC 2 5.87% $11,490
    CARDINAL FINANCIAL 2 6.50% $11,350
    Nations Lending Corporation 1 7.25% $8,079
    NEWREZ LLC 1 7.25% $9,005
    NFM, INC. 1 7.63% $11,913
    OCMBC, INC. 1 7.25% $13,466
    Paramount Residential Mortgage Group, Inc. 1 6.25% $9,989
    Prosperity Home Mortgage, LLC 1 6.63% $6,711
    Renasant Bank 1 6.25% $14,345
    TOTAL MORTGAGE SERVICES, LLC 1 6.25% $8,286
    ZILLOW HOME LOANS, LLC 1 7.75% $10,456
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.25% $13,574
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $15,816
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $9,266
    Equity Prime Mortgage LLC 1 7.75% $7,276
    FREEDOM MORTGAGE CORPORATION 1 7.25% $12,089
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.13% $12,459
    JPMorgan Chase Bank 1 5.75% $9,875
    Lakeview Community Capital, LLC 1 6.75% $11,138
    Magnolia Bank 1 7.13% $11,607
    MILEND, INC. 1 5.50% $16,791
    Mortgage Research Center, LLC 1 6.75% $3,764
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $8,437
    MOVEMENT MORTGAGE, LLC 1 6.25% $9,008
    Mr. Cooper ( Nationstar Mortgage ) 1 4.75% $11,539

    The top Jesup FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 17 FHA loans originated. Their average total fees are $8,983, which is $1,971 lower than the next largest lender, VANDERBILT MORTGAGE AND FINANCE, INC..

    The lowest fee Jesup FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,983), UNITED WHOLESALE MORTGAGE, LLC ($9,224), VANDERBILT MORTGAGE AND FINANCE, INC. ($10,953), .

    The lowest rate Jesup FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.33%), VANDERBILT MORTGAGE AND FINANCE, INC. (6.40%), QUICKEN LOANS, LLC (6.45%), .

    Jesup FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Jesup (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 $134,950 (3.8%) $167,339 (-2.7%) 0.00 120
    2018-02-01 $137,375 (1.1%) $173,674 (-2.8%) 0.00 118
    2018-03-01 $136,750 (0.8%) $157,931 (-12.5%) 0.00 118
    2018-04-01 $138,500 (2.6%) $157,563 (-13.5%) 0.00 123
    2018-05-01 $139,200 (1.1%) $171,905 (-0.7%) 0.00 129
    2018-06-01 $139,000 (1.5%) $173,871 (-1.2%) 0.00 124
    2018-07-01 $138,500 (5.7%) $177,680 (6.9%) 0.00 102
    2018-08-01 $137,450 (5.8%) $185,552 (14.1%) 0.00 105
    2018-09-01 $137,000 (3.8%) $180,953 (10.2%) 0.00 112
    2018-10-01 $140,600 (10.3%) $187,641 (20.8%) 0.00 116
    2018-11-01 $145,000 (14.0%) $188,052 (19.9%) 0.00 116
    2018-12-01 $139,900 (3.7%) $181,491 (10.5%) 0.00 118
    2019-01-01 $142,450 (5.6%) $188,983 (12.9%) 0.00 119
    2019-02-01 $155,000 (12.8%) $191,645 (10.4%) 0.00 118
    2019-03-01 $162,263 (18.7%) $199,493 (26.3%) 0.00 112
    2019-04-01 $173,199 (25.1%) $208,046 (32.0%) 0.00 108
    2019-05-01 $178,800 (28.5%) $213,516 (24.2%) 0.00 108
    2019-06-01 $174,950 (25.9%) $214,619 (23.4%) 0.00 109
    2019-07-01 $177,000 (27.8%) $211,689 (19.1%) 0.00 114
    2019-08-01 $175,123 (27.4%) $211,777 (14.1%) 0.00 118
    2019-09-01 $182,057 (32.9%) $218,086 (20.5%) 0.00 116
    2019-10-01 $188,675 (34.2%) $228,325 (21.7%) 0.00 114
    2019-11-01 $199,500 (37.6%) $232,442 (23.6%) 0.00 102
    2019-12-01 $203,425 (45.4%) $240,491 (32.5%) 0.00 100
    2020-01-01 $205,700 (44.4%) $232,666 (23.1%) 0.00 96
    2020-02-01 $189,000 (21.9%) $220,155 (14.9%) 0.00 94
    2020-03-01 $179,875 (10.9%) $215,976 (8.3%) 0.00 89
    2020-04-01 $169,000 (-2.4%) $204,402 (-1.8%) 0.00 93
    2020-05-01 $174,450 (-2.4%) $206,303 (-3.4%) 0.00 82
    2020-06-01 $168,675 (-3.6%) $216,375 (0.8%) 0.00 70
    2020-07-01 $179,000 (1.1%) $226,766 (7.1%) 0.00 63
    2020-08-01 $184,000 (5.1%) $233,754 (10.4%) 0.00 59
    2020-09-01 $196,150 (7.7%) $236,466 (8.4%) 0.00 52
    2020-10-01 $193,425 (2.5%) $230,656 (1.0%) 0.00 50
    2020-11-01 $203,225 (1.9%) $239,311 (3.0%) 0.00 46
    2020-12-01 $229,250 (12.7%) $257,658 (7.1%) 0.00 47
    2021-01-01 $232,000 (12.8%) $268,183 (15.3%) 0.00 41
    2021-02-01 $216,100 (14.3%) $274,242 (24.6%) 0.00 39
    2021-03-01 $209,900 (16.7%) $268,259 (24.2%) 0.00 43
    2021-04-01 $248,225 (46.9%) $310,999 (52.2%) 0.00 38
    2021-05-01 $249,000 (42.7%) $305,671 (48.2%) 0.00 26
    2021-06-01 $245,700 (45.7%) $284,459 (31.5%) 0.00 35
    2021-07-01 $262,000 (46.4%) $321,317 (41.7%) 0.00 28
    2021-08-01 $271,000 (47.3%) $324,911 (39.0%) 0.00 33
    2021-09-01 $242,425 (23.6%) $303,218 (28.2%) 0.00 54
    2021-10-01 $235,750 (21.9%) $294,417 (27.6%) 0.00 62
    2021-11-01 $233,100 (14.7%) $300,037 (25.4%) 0.00 63
    2021-12-01 $232,500 (1.4%) $282,368 (9.6%) 0.00 65
    2022-01-01 $235,000 (1.3%) $293,952 (9.6%) 0.00 60
    2022-02-01 $234,500 (8.5%) $296,056 (8.0%) 0.00 49
    2022-03-01 $248,425 (18.4%) $303,241 (13.0%) 0.00 46
    2022-04-01 $234,400 (-5.6%) $283,613 (-8.8%) 0.00 49
    2022-05-01 $250,725 (0.7%) $288,249 (-5.7%) 0.00 44
    2022-06-01 $279,900 (13.9%) $312,533 (9.9%) 0.00 42
    2022-07-01 $272,000 (3.8%) $308,979 (-3.8%) 0.00 60
    2022-08-01 $265,724 (-2.0%) $289,630 (-10.9%) 0.00 68
    2022-09-01 $267,473 (10.3%) $321,780 (6.1%) 0.00 69
    2022-10-01 $259,900 (10.2%) $307,092 (4.3%) 0.00 70
    2022-11-01 $259,975 (11.5%) $312,890 (4.3%) 0.00 64
    2022-12-01 $259,000 (11.4%) $363,430 (28.7%) 0.00 62
    2023-01-01 $258,725 (10.1%) $371,154 (26.3%) 0.00 49
    2023-02-01 $251,950 (7.4%) $379,598 (28.2%) 0.00 47
    2023-03-01 $268,250 (8.0%) $396,984 (30.9%) 0.00 40
    2023-04-01 $317,450 (35.4%) $428,028 (50.9%) 0.00 35
    2023-05-01 $297,000 (18.5%) $420,355 (45.8%) 0.00 42
    2023-06-01 $299,225 (6.9%) $424,436 (35.8%) 0.00 47
    2023-07-01 $297,450 (9.4%) $427,113 (38.2%) 0.00 47
    2023-08-01 $279,000 (5.0%) $412,627 (42.5%) 0.00 47
    2023-09-01 $282,000 (5.4%) $393,882 (22.4%) 0.00 58
    2023-10-01 $260,500 (0.2%) $364,559 (18.7%) 0.00 62
    2023-11-01 $260,000 (0.0%) $365,013 (16.7%) 0.00 63
    2023-12-01 $262,900 (1.5%) $308,503 (-15.1%) 0.00 55
    2024-01-01 $258,900 (0.1%) $295,316 (-20.4%) 0.00 59
    2024-02-01 $265,700 (5.5%) $301,089 (-20.7%) 0.00 60
    2024-03-01 $279,900 (4.3%) $327,711 (-17.5%) 0.00 59
    2024-04-01 $273,750 (-13.8%) $329,105 (-23.1%) 0.00 86
    2024-05-01 $287,000 (-3.4%) $340,393 (-19.0%) 0.00 89
    2024-06-01 $289,000 (-3.4%) $334,346 (-21.2%) 0.00 81
    2024-07-01 $281,250 (-5.5%) $320,687 (-24.9%) 0.00 81
    2024-08-01 $287,500 (3.1%) $321,541 (-22.1%) 0.00 88
    2024-09-01 $289,950 (2.8%) $344,319 (-12.6%) 0.00 80
    2024-10-01 $288,000 (10.6%) $329,189 (-9.7%) 0.00 88
    Jesup's median listing price for 2024-10-01 was $288,000, a difference of $27,500 (10.6%) versus the prior year and $-1,950 versus the prior month.

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

    Jesup's average listing price for 2024-10-01 was $329,189, a difference of $-35,370 (-9.7%) versus the prior year and $-15,130 versus the prior month.

    For the 2024-10-01 period, Jesup had 88 MLS listings, a difference of 8 listings (10%) versus the prior month and 26 listings (42%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Jesup (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,804 sqft
    2018-02-01 0 days 1,852 sqft
    2018-03-01 0 days 1,803 sqft
    2018-04-01 0 days 1,776 sqft
    2018-05-01 0 days 1,789 sqft
    2018-06-01 0 days 1,802 sqft
    2018-07-01 0 days 1,812 sqft
    2018-08-01 0 days 1,844 sqft
    2018-09-01 0 days 1,800 sqft
    2018-10-01 0 days 1,849 sqft
    2018-11-01 0 days 1,910 sqft
    2018-12-01 0 days 1,875 sqft
    2019-01-01 0 days 1,916 sqft
    2019-02-01 0 days 1,901 sqft
    2019-03-01 0 days 1,933 sqft
    2019-04-01 0 days 1,955 sqft
    2019-05-01 0 days 1,986 sqft
    2019-06-01 0 days 2,083 sqft
    2019-07-01 0 days 2,093 sqft
    2019-08-01 0 days 2,049 sqft
    2019-09-01 0 days 2,062 sqft
    2019-10-01 0 days 2,087 sqft
    2019-11-01 0 days 2,157 sqft
    2019-12-01 0 days 2,199 sqft
    2020-01-01 0 days 2,167 sqft
    2020-02-01 0 days 2,067 sqft
    2020-03-01 0 days 1,939 sqft
    2020-04-01 0 days 1,901 sqft
    2020-05-01 0 days 1,978 sqft
    2020-06-01 0 days 2,014 sqft
    2020-07-01 0 days 2,135 sqft
    2020-08-01 0 days 1,933 sqft
    2020-09-01 0 days 1,987 sqft
    2020-10-01 0 days 1,968 sqft
    2020-11-01 0 days 1,814 sqft
    2020-12-01 0 days 2,295 sqft
    2021-01-01 0 days 2,352 sqft
    2021-02-01 0 days 1,944 sqft
    2021-03-01 0 days 2,023 sqft
    2021-04-01 0 days 2,328 sqft
    2021-05-01 0 days 2,349 sqft
    2021-06-01 0 days 1,965 sqft
    2021-07-01 0 days 2,500 sqft
    2021-08-01 0 days 2,130 sqft
    2021-09-01 0 days 2,105 sqft
    2021-10-01 0 days 1,958 sqft
    2021-11-01 0 days 2,100 sqft
    2021-12-01 0 days 1,975 sqft
    2022-01-01 0 days 2,072 sqft
    2022-02-01 0 days 2,093 sqft
    2022-03-01 0 days 2,045 sqft
    2022-04-01 0 days 1,851 sqft
    2022-05-01 0 days 1,977 sqft
    2022-06-01 0 days 2,173 sqft
    2022-07-01 0 days 1,968 sqft
    2022-08-01 0 days 1,856 sqft
    2022-09-01 0 days 1,861 sqft
    2022-10-01 0 days 1,742 sqft
    2022-11-01 0 days 1,787 sqft
    2022-12-01 0 days 1,844 sqft
    2023-01-01 0 days 1,827 sqft
    2023-02-01 0 days 1,782 sqft
    2023-03-01 0 days 1,771 sqft
    2023-04-01 0 days 1,800 sqft
    2023-05-01 0 days 1,851 sqft
    2023-06-01 0 days 1,952 sqft
    2023-07-01 0 days 1,914 sqft
    2023-08-01 0 days 1,854 sqft
    2023-09-01 0 days 1,728 sqft
    2023-10-01 0 days 1,765 sqft
    2023-11-01 0 days 1,741 sqft
    2023-12-01 0 days 1,705 sqft
    2024-01-01 0 days 1,674 sqft
    2024-02-01 0 days 1,684 sqft
    2024-03-01 0 days 1,824 sqft
    2024-04-01 0 days 1,859 sqft
    2024-05-01 0 days 1,979 sqft
    2024-06-01 0 days 1,979 sqft
    2024-07-01 0 days 1,898 sqft
    2024-08-01 0 days 1,869 sqft
    2024-09-01 0 days 1,875 sqft
    2024-10-01 0 days 1,827 sqft
    Jesup's median listing age (time on market) for 2024-10-01 was 0 days.

    Jesup's median square footage for active listings during the 2024-10-01 period was 1,827 sqft. One year prior, the average listing was 1,765 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).