Lagrange FHA Loan Rates, Closing Costs & Stats

LaGrange, GA-AL

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Lagrange's 95 lenders originated 437 FHA loans during 2023. The total origination value was $93,135,000, with an average FHA loan value of $213,124.

    Lagrange FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Lagrange averaged 6.93% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Lagrange's average FHA mortgage closing costs are $6,894.

    The average rate for the prior week (2024-04-12) was 6.82% and one month ago for the week of 2024-03-15, the average rate was 6.59%.

    The average rate one year ago was 6.21%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Lagrange 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 Lagrange level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Plains Commerce Bank 64 6.29% $10,465
    QUICKEN LOANS, LLC 38 6.25% $9,691
    BROKER SOLUTIONS, INC. 19 5.50% $11,047
    Flagstar Bank, FSB 18 6.77% $9,215
    UNITED WHOLESALE MORTGAGE, LLC 18 6.29% $8,879
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.72% $7,541
    CMG MORTGAGE, INC. 13 7.04% $10,751
    HOMEBRIDGE FINANCIAL SERVICES, INC. 12 6.65% $8,825
    CROSSCOUNTRY MORTGAGE, LLC 12 6.78% $10,059
    LOANDEPOT.COM, LLC 8 6.87% $10,284
    Synovus Bank 8 6.38% $10,055
    FREEDOM MORTGAGE CORPORATION 8 7.19% $10,314
    HOMESTAR FINANCIAL CORPORATION 7 6.48% $7,869
    GUARANTEED RATE, INC. 6 6.56% $9,204
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 6 5.71% $11,332
    FBC MORTGAGE, LLC 5 5.34% $10,155
    Renasant Bank 5 6.68% $8,902
    Equity Prime Mortgage LLC 5 6.55% $9,865
    Carrington Mortgage Services, LLC 5 6.28% $10,876
    AMERICAN FINANCIAL NETWORK, INC. 5 7.50% $9,179
    South State Bank 4 6.34% $7,943
    STOCKTON MORTGAGE CORPORATION 4 6.72% $11,339
    Ameris Bank 4 6.72% $8,169
    CARDINAL FINANCIAL 4 6.38% $9,959
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 7.22% $8,379
    Colony Bank 4 6.03% $6,726
    NORWICH COMMERCIAL GROUP, INC. 4 7.03% $4,512
    Keystone Funding, Inc. 4 6.56% $8,044
    MILEND, INC. 4 6.63% $12,425
    VANDERBILT MORTGAGE AND FINANCE, INC. 3 6.79% $9,174
    EVERETT FINANCIAL, INC. 3 6.83% $8,212
    ZILLOW HOME LOANS, LLC 3 6.38% $10,577
    The Federal Savings Bank 3 6.04% $12,205
    MOVEMENT MORTGAGE, LLC 3 6.88% $11,504
    CANOPY MORTGAGE, LLC 3 7.21% $14,704
    PENNYMAC LOAN SERVICES, LLC 3 5.83% $8,912
    Magnolia Bank 3 6.79% $13,313
    Mr. Cooper ( Nationstar Mortgage ) 3 6.38% $10,887
    LAKEVIEW LOAN SERVICING, LLC 2 6.00% $14,337
    ACOPIA, LLC 2 6.56% $8,336
    AmeriHome Mortgage Company, LLC 2 6.44% $11,056
    Century Mortgage Company DBA Century Lending Company 2 7.25% $0
    DAS Acquisition Company, LLC 2 7.13% $11,138
    HOMESIDE FINANCIAL, LLC 2 6.69% $8,593
    ISERVE RESIDENTIAL LENDING, LLC 2 7.13% $16,159
    ACADEMY MORTGAGE CORPORATION 2 8.00% $9,101
    MID AMERICA MORTGAGE, INC. 2 8.06% $11,477
    M&T Bank 2 7.00% $6,364
    Princeton Mortgage Corporation 2 6.63% $8,770
    Prosperity Home Mortgage, LLC 2 6.56% $7,993
    SUN WEST MORTGAGE COMPANY, INC. 2 6.75% $12,323
    MICHIGAN MUTUAL, INC. 1 7.88% $6,417
    American Mortgage & Equity Consultants, Inc. 1 6.13% $7,998
    First Federal Bank 1 6.00% $6,969
    FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $8,637
    EMM LOANS LLC 1 5.75% $10,027
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $13,328
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $8,241
    NATIONS RELIABLE LENDING, LLC 1 7.63% $14,272
    NEWREZ LLC 1 6.13% $6,827
    Northpointe Bank 1 6.63% $7,952
    EMBRACE HOME LOANS, INC. 1 6.75% $8,977
    Paramount Residential Mortgage Group, Inc. 1 6.13% $13,790
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.00% $12,518
    CRESCENT MORTGAGE COMPANY 1 7.63% $7,579
    PLAZA HOME MORTGAGE, INC. 1 5.75% $12,756
    POLARIS HOME FUNDING CORP. 1 6.25% $13,516
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 6.99% $14,491
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.13% $17,578
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.75% $15,955
    VAN DYK MORTGAGE CORPORATION 1 7.38% $9,748
    VILLAGE CAPITAL MORTGAGE 1 6.38% $13,924
    BAYSHORE MORTGAGE FUNDING, LLC 1 7.88% $11,806
    Regions Bank 1 5.75% $5,764
    RELIANCE FIRST CAPITAL, LLC 1 6.50% $9,095
    BANKSOUTH MORTGAGE COMPANY, LLC 1 6.13% $14,437
    ROYAL UNITED MORTGAGE LLC 1 6.75% $10,049
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.75% $10,339
    BancorpSouth 1 6.25% $7,158
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.00% $9,274
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $9,967
    Alcova Mortgage LLC 1 6.13% $7,493
    SWBC MORTGAGE CORPORATION 1 6.13% $4,914
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $7,522
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $20,075
    TJC Mortgage, Inc. 1 7.75% $4,850
    TOP FLITE FINANCIAL, INC. 1 7.00% $10,449
    TOWNE MORTGAGE COMPANY 1 7.13% $6,986
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 7.25% $10,900
    UNION HOME MORTGAGE CORP. 1 6.63% $9,654
    GUILD MORTGAGE COMPANY 1 6.63% $9,800
    United Community Bank 1 6.50% $9,406
    GMFS LLC 1 6.13% $10,420
    Loan Simple, Inc. 1 7.25% $13,140
    First Option Mortgage, LLC 1 6.63% $11,623

    The top Lagrange FHA lender as defined by loan originations is Plains Commerce Bank, with 64 FHA loans originated. Their average total fees are $10,465, which is $774 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Lagrange FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,541), HOMEBRIDGE FINANCIAL SERVICES, INC. ($8,825), UNITED WHOLESALE MORTGAGE, LLC ($8,879), Flagstar Bank, FSB ($9,215) and QUICKEN LOANS, LLC ($9,691).

    The lowest rate Lagrange FHA lenders (with over 10 loans originated) are BROKER SOLUTIONS, INC. (5.50%), QUICKEN LOANS, LLC (6.25%), Plains Commerce Bank (6.29%), UNITED WHOLESALE MORTGAGE, LLC (6.29%) and HOMEBRIDGE FINANCIAL SERVICES, INC. (6.65%).

    Lagrange FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Lagrange (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 $149,100 (3.8%) $200,245 (10.3%) 0.00 357
    2018-02-01 $149,925 (7.5%) $205,859 (14.8%) 0.00 343
    2018-03-01 $159,900 (14.9%) $206,954 (11.8%) 0.00 348
    2018-04-01 $169,800 (21.4%) $207,359 (9.9%) 0.00 379
    2018-05-01 $170,950 (15.2%) $207,172 (6.4%) 0.00 377
    2018-06-01 $169,900 (14.5%) $209,173 (5.2%) 0.00 386
    2018-07-01 $170,975 (6.8%) $210,893 (3.1%) 0.00 422
    2018-08-01 $162,375 (8.3%) $211,582 (5.6%) 0.00 418
    2018-09-01 $169,900 (13.7%) $208,581 (2.4%) 0.00 427
    2018-10-01 $175,000 (18.5%) $210,497 (4.3%) 0.00 426
    2018-11-01 $183,700 (23.8%) $211,122 (5.7%) 0.00 426
    2018-12-01 $180,000 (22.9%) $214,464 (6.5%) 0.00 417
    2019-01-01 $182,725 (22.6%) $212,457 (6.1%) 0.00 386
    2019-02-01 $189,575 (26.5%) $214,500 (4.2%) 0.00 370
    2019-03-01 $183,514 (14.8%) $215,003 (3.9%) 0.00 374
    2019-04-01 $175,000 (3.1%) $208,340 (0.5%) 0.00 387
    2019-05-01 $177,075 (3.6%) $209,352 (1.1%) 0.00 396
    2019-06-01 $177,995 (4.8%) $208,156 (-0.5%) 0.00 406
    2019-07-01 $172,700 (1.0%) $204,946 (-2.8%) 0.00 412
    2019-08-01 $177,577 (9.4%) $207,349 (-2.0%) 0.00 401
    2019-09-01 $181,443 (6.8%) $209,268 (0.3%) 0.00 390
    2019-10-01 $181,745 (3.9%) $210,184 (-0.2%) 0.00 381
    2019-11-01 $174,000 (-5.3%) $204,817 (-3.0%) 0.00 367
    2019-12-01 $169,935 (-5.6%) $203,676 (-5.0%) 0.00 364
    2020-01-01 $169,900 (-7.0%) $199,922 (-5.9%) 0.00 349
    2020-02-01 $169,900 (-10.4%) $201,146 (-6.2%) 0.00 346
    2020-03-01 $176,200 (-4.0%) $203,808 (-5.2%) 0.00 323
    2020-04-01 $176,450 (0.8%) $204,751 (-1.7%) 0.00 319
    2020-05-01 $188,000 (6.2%) $222,618 (6.3%) 0.00 291
    2020-06-01 $204,926 (15.1%) $234,227 (12.5%) 0.00 263
    2020-07-01 $216,725 (25.5%) $244,367 (19.2%) 0.00 238
    2020-08-01 $219,900 (23.8%) $248,814 (20.0%) 0.00 214
    2020-09-01 $216,075 (19.1%) $255,277 (22.0%) 0.00 195
    2020-10-01 $209,900 (15.5%) $255,820 (21.7%) 0.00 185
    2020-11-01 $189,490 (8.9%) $247,460 (20.8%) 0.00 180
    2020-12-01 $185,615 (9.2%) $242,921 (19.3%) 0.00 192
    2021-01-01 $192,990 (13.6%) $249,471 (24.8%) 0.00 175
    2021-02-01 $204,700 (20.5%) $257,764 (28.2%) 0.00 142
    2021-03-01 $213,725 (21.3%) $260,314 (27.7%) 0.00 125
    2021-04-01 $227,450 (28.9%) $271,361 (32.5%) 0.00 123
    2021-05-01 $214,975 (14.4%) $287,367 (29.1%) 0.00 103
    2021-06-01 $190,373 (-7.1%) $289,249 (23.5%) 0.00 109
    2021-07-01 $179,000 (-17.4%) $316,114 (29.4%) 0.00 122
    2021-08-01 $230,950 (5.0%) $332,302 (33.6%) 0.00 151
    2021-09-01 $236,175 (9.3%) $350,377 (37.3%) 0.00 148
    2021-10-01 $239,000 (13.9%) $359,839 (40.7%) 0.00 131
    2021-11-01 $219,445 (15.8%) $345,032 (39.4%) 0.00 135
    2021-12-01 $213,970 (15.3%) $356,631 (46.8%) 0.00 122
    2022-01-01 $165,000 (-14.5%) $327,342 (31.2%) 0.00 108
    2022-02-01 $177,675 (-13.2%) $314,680 (22.1%) 0.00 105
    2022-03-01 $179,950 (-15.8%) $310,394 (19.2%) 0.00 96
    2022-04-01 $209,900 (-7.7%) $293,079 (8.0%) 0.00 98
    2022-05-01 $229,750 (6.9%) $297,196 (3.4%) 0.00 104
    2022-06-01 $254,900 (33.9%) $320,345 (10.8%) 0.00 133
    2022-07-01 $250,000 (39.7%) $328,348 (3.9%) 0.00 142
    2022-08-01 $264,625 (14.6%) $317,641 (-4.4%) 0.00 171
    2022-09-01 $290,515 (23.0%) $326,541 (-6.8%) 0.00 173
    2022-10-01 $294,990 (23.4%) $328,421 (-8.7%) 0.00 189
    2022-11-01 $291,882 (33.0%) $323,203 (-6.3%) 0.00 207
    2022-12-01 $281,427 (31.5%) $310,840 (-12.8%) 0.00 216
    2023-01-01 $284,978 (72.7%) $307,539 (-6.1%) 0.00 202
    2023-02-01 $289,973 (63.2%) $314,282 (-0.1%) 0.00 207
    2023-03-01 $278,770 (54.9%) $310,002 (-0.1%) 0.00 195
    2023-04-01 $278,625 (32.7%) $303,631 (3.6%) 0.00 193
    2023-05-01 $285,136 (24.1%) $309,081 (4.0%) 0.00 184
    2023-06-01 $289,314 (13.5%) $316,130 (-1.3%) 0.00 194
    2023-07-01 $285,624 (14.3%) $303,101 (-7.7%) 0.00 184
    2023-08-01 $285,945 (8.1%) $310,992 (-2.1%) 0.00 209
    2023-09-01 $298,850 (2.9%) $321,232 (-1.6%) 0.00 259
    2023-10-01 $297,500 (0.9%) $322,251 (-1.9%) 0.00 283
    2023-11-01 $279,230 (-4.3%) $314,788 (-2.6%) 0.00 303
    2023-12-01 $278,400 (-1.1%) $312,890 (0.7%) 0.00 287
    2024-01-01 $270,500 (-5.1%) $308,455 (0.3%) 0.00 277
    2024-02-01 $268,425 (-7.4%) $297,671 (-5.3%) 0.00 282
    2024-03-01 $259,900 (-6.8%) $285,136 (-8.0%) 0.00 275
    Lagrange's median listing price for 2024-03-01 was $259,900, a difference of $-18,870 (-6.8%) versus the prior year and $-8,525 versus the prior month.

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

    Lagrange's average listing price for 2024-03-01 was $285,136, a difference of $-24,866 (-8.0%) versus the prior year and $-12,535 versus the prior month.

    For the 2024-03-01 period, Lagrange had 275 MLS listings, a difference of -7 listings (-2%) versus the prior month and 80 listings (41%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Lagrange (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,936 sqft
    2018-02-01 0 days 1,989 sqft
    2018-03-01 0 days 2,056 sqft
    2018-04-01 0 days 2,081 sqft
    2018-05-01 0 days 2,075 sqft
    2018-06-01 0 days 2,077 sqft
    2018-07-01 0 days 2,065 sqft
    2018-08-01 0 days 2,004 sqft
    2018-09-01 0 days 2,032 sqft
    2018-10-01 0 days 2,050 sqft
    2018-11-01 0 days 2,071 sqft
    2018-12-01 0 days 2,072 sqft
    2019-01-01 0 days 2,109 sqft
    2019-02-01 0 days 2,134 sqft
    2019-03-01 0 days 2,186 sqft
    2019-04-01 0 days 2,186 sqft
    2019-05-01 0 days 2,135 sqft
    2019-06-01 0 days 2,172 sqft
    2019-07-01 0 days 2,120 sqft
    2019-08-01 0 days 2,148 sqft
    2019-09-01 0 days 2,119 sqft
    2019-10-01 0 days 2,086 sqft
    2019-11-01 0 days 2,039 sqft
    2019-12-01 0 days 2,020 sqft
    2020-01-01 0 days 1,997 sqft
    2020-02-01 0 days 1,945 sqft
    2020-03-01 0 days 2,029 sqft
    2020-04-01 0 days 2,030 sqft
    2020-05-01 0 days 2,048 sqft
    2020-06-01 0 days 2,124 sqft
    2020-07-01 0 days 2,187 sqft
    2020-08-01 0 days 2,191 sqft
    2020-09-01 0 days 2,142 sqft
    2020-10-01 0 days 2,106 sqft
    2020-11-01 0 days 2,026 sqft
    2020-12-01 0 days 1,998 sqft
    2021-01-01 0 days 2,021 sqft
    2021-02-01 0 days 2,084 sqft
    2021-03-01 0 days 2,097 sqft
    2021-04-01 0 days 2,085 sqft
    2021-05-01 0 days 2,153 sqft
    2021-06-01 0 days 1,894 sqft
    2021-07-01 0 days 1,716 sqft
    2021-08-01 0 days 2,064 sqft
    2021-09-01 0 days 2,069 sqft
    2021-10-01 0 days 1,963 sqft
    2021-11-01 0 days 1,814 sqft
    2021-12-01 0 days 1,796 sqft
    2022-01-01 0 days 1,774 sqft
    2022-02-01 0 days 1,706 sqft
    2022-03-01 0 days 1,793 sqft
    2022-04-01 0 days 1,800 sqft
    2022-05-01 0 days 1,871 sqft
    2022-06-01 0 days 1,830 sqft
    2022-07-01 0 days 1,939 sqft
    2022-08-01 0 days 1,956 sqft
    2022-09-01 0 days 2,001 sqft
    2022-10-01 0 days 2,100 sqft
    2022-11-01 0 days 2,123 sqft
    2022-12-01 0 days 2,100 sqft
    2023-01-01 0 days 2,044 sqft
    2023-02-01 0 days 2,063 sqft
    2023-03-01 0 days 1,949 sqft
    2023-04-01 0 days 1,942 sqft
    2023-05-01 0 days 1,955 sqft
    2023-06-01 0 days 1,939 sqft
    2023-07-01 0 days 1,816 sqft
    2023-08-01 0 days 1,848 sqft
    2023-09-01 0 days 2,000 sqft
    2023-10-01 0 days 1,944 sqft
    2023-11-01 0 days 1,976 sqft
    2023-12-01 0 days 1,924 sqft
    2024-01-01 0 days 1,824 sqft
    2024-02-01 0 days 1,763 sqft
    2024-03-01 0 days 1,708 sqft
    Lagrange's median listing age (time on market) for 2024-03-01 was 0 days.

    Lagrange's median square footage for active listings during the 2024-03-01 period was 1,708 sqft. One year prior, the average listing was 1,949 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).