Macon FHA Loan Rates, Closing Costs & Stats
MACON-BIBB COUNTY, GA
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.
Macon's 131 lenders originated 1,189 FHA loans during 2021. The total origination value was $238,115,000, with an average FHA loan value of $200,265.
Macon FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Macon
averaged
6.4%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Macon's average FHA mortgage closing costs are $6,079.
The average rate for the prior week (2023-01-20) was
6.37% and
one month ago for the week of 2022-12-23, the
average rate was 6.16%.
The average rate one year ago was 3.65%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.95%.
Macon 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 Macon level.
The top Macon FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
154 FHA loans originated. Their average total fees are
$5,661, which is $2,119
lower than the next largest lender,
GUILD MORTGAGE COMPANY.
The lowest fee Macon FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($2,495), Mr. Cooper ( Nationstar Mortgage ) ($3,276), PENNYMAC LOAN SERVICES, LLC ($3,836), LAKEVIEW LOAN SERVICING, LLC ($4,085) and FREEDOM MORTGAGE CORPORATION ($4,150).
The lowest rate Macon FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.78%), Colony Bank (2.83%), UNITED WHOLESALE MORTGAGE, LLC (2.88%), CALIBER HOME LOANS, INC. (2.98%) and FREEDOM MORTGAGE CORPORATION (3.06%).
Macon FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
MACON-BIBB COUNTY, GA | BIBB | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
MACON-BIBB COUNTY, GA | CRAWFORD | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
MACON-BIBB COUNTY, GA | JONES | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
MACON-BIBB COUNTY, GA | MONROE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
MACON-BIBB COUNTY, GA | TWIGGS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Macon (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $140,995 (1.1%) | $187,948 (-1.2%) | 0.52 | 750 |
2018-02-01 | $139,925 (0.0%) | $187,262 (-1.7%) | 0.51 | 763 |
2018-03-01 | $144,990 (-1.0%) | $194,567 (-2.6%) | 0.51 | 785 |
2018-04-01 | $149,700 (0.3%) | $202,604 (1.6%) | 0.51 | 815 |
2018-05-01 | $150,445 (0.4%) | $210,527 (6.7%) | 0.50 | 833 |
2018-06-01 | $157,500 (4.5%) | $215,471 (7.6%) | 0.53 | 843 |
2018-07-01 | $159,800 (6.6%) | $213,851 (6.8%) | 0.53 | 864 |
2018-08-01 | $162,400 (4.8%) | $216,757 (5.3%) | 0.54 | 878 |
2018-09-01 | $164,250 (9.6%) | $219,623 (8.3%) | 0.55 | 884 |
2018-10-01 | $165,000 (17.9%) | $219,237 (14.5%) | 0.56 | 885 |
2018-11-01 | $164,475 (13.6%) | $221,820 (13.1%) | 0.56 | 884 |
2018-12-01 | $159,500 (12.3%) | $216,935 (15.3%) | 0.55 | 851 |
2019-01-01 | $152,623 (8.3%) | $217,964 (16.0%) | 0.53 | 792 |
2019-02-01 | $153,973 (10.0%) | $219,011 (17.0%) | 0.52 | 803 |
2019-03-01 | $125,836 (-13.2%) | $192,894 (-0.9%) | 0.41 | 1,145 |
2019-04-01 | $88,450 (-40.9%) | $162,573 (-19.8%) | 0.28 | 1,607 |
2019-05-01 | $90,000 (-40.2%) | $166,441 (-20.9%) | 0.28 | 1,618 |
2019-06-01 | $172,000 (9.2%) | $242,588 (12.6%) | 0.54 | 937 |
2019-07-01 | $159,990 (0.1%) | $235,286 (10.0%) | 0.50 | 956 |
2019-08-01 | $158,602 (-2.3%) | $236,599 (9.2%) | 0.50 | 947 |
2019-09-01 | $156,520 (-4.7%) | $236,100 (7.5%) | 0.50 | 931 |
2019-10-01 | $157,631 (-4.5%) | $239,087 (9.1%) | 0.51 | 913 |
2019-11-01 | $159,900 (-2.8%) | $245,115 (10.5%) | 0.52 | 851 |
2019-12-01 | $159,900 (0.3%) | $241,712 (11.4%) | 0.53 | 828 |
2020-01-01 | $158,625 (3.9%) | $237,805 (9.1%) | 0.53 | 788 |
2020-02-01 | $152,490 (-1.0%) | $236,536 (8.0%) | 0.50 | 804 |
2020-03-01 | $150,000 (19.2%) | $235,337 (22.0%) | 0.47 | 783 |
2020-04-01 | $150,495 (70.2%) | $239,327 (47.2%) | 0.47 | 779 |
2020-05-01 | $157,500 (75.0%) | $253,775 (52.5%) | 0.48 | 709 |
2020-06-01 | $163,450 (-5.0%) | $264,898 (9.2%) | 0.48 | 598 |
2020-07-01 | $172,300 (7.7%) | $270,035 (14.8%) | 0.50 | 587 |
2020-08-01 | $176,250 (11.1%) | $279,837 (18.3%) | 0.51 | 506 |
2020-09-01 | $169,073 (8.0%) | $277,020 (17.3%) | 0.48 | 474 |
2020-10-01 | $167,990 (6.6%) | $489,511 (104.7%) | 0.48 | 468 |
2020-11-01 | $173,198 (8.3%) | $287,081 (17.1%) | 0.51 | 441 |
2020-12-01 | $182,400 (14.1%) | $296,186 (22.5%) | 0.54 | 428 |
2021-01-01 | $175,245 (10.5%) | $293,163 (23.3%) | 0.52 | 401 |
2021-02-01 | $177,373 (16.3%) | $287,045 (21.4%) | 0.52 | 352 |
2021-03-01 | $195,520 (30.4%) | $289,790 (23.1%) | 0.55 | 358 |
2021-04-01 | $196,223 (30.4%) | $292,659 (22.3%) | 0.53 | 373 |
2021-05-01 | $189,900 (20.6%) | $262,663 (3.5%) | 0.50 | 375 |
2021-06-01 | $183,445 (12.2%) | $260,063 (-1.8%) | 0.48 | 421 |
2021-07-01 | $189,450 (10.0%) | $259,959 (-3.7%) | 0.50 | 458 |
2021-08-01 | $195,368 (10.9%) | $256,803 (-8.2%) | 0.52 | 504 |
2021-09-01 | $207,995 (23.0%) | $325,977 (17.7%) | 0.55 | 547 |
2021-10-01 | $211,740 (26.0%) | $424,664 (-13.3%) | 0.56 | 497 |
2021-11-01 | $212,990 (23.0%) | $449,857 (56.7%) | 0.57 | 472 |
2021-12-01 | $207,495 (13.8%) | $468,644 (58.2%) | 0.56 | 407 |
2022-01-01 | $198,945 (13.5%) | $464,756 (58.5%) | 0.54 | 407 |
2022-02-01 | $167,450 (-5.6%) | $441,531 (53.8%) | 0.44 | 398 |
2022-03-01 | $166,500 (-14.8%) | $335,239 (15.7%) | 0.42 | 397 |
2022-04-01 | $186,250 (-5.1%) | $457,897 (56.5%) | 0.44 | 395 |
2022-05-01 | $213,000 (12.2%) | $569,349 (116.8%) | 0.49 | 428 |
2022-06-01 | $232,450 (26.7%) | $451,778 (73.7%) | 0.52 | 486 |
2022-07-01 | $239,900 (26.6%) | $458,391 (76.3%) | 0.54 | 521 |
2022-08-01 | $229,700 (17.6%) | $424,636 (65.4%) | 0.53 | 532 |
2022-09-01 | $235,000 (13.0%) | $394,408 (21.0%) | 0.55 | 543 |
2022-10-01 | $225,000 (6.3%) | $388,894 (-8.4%) | 0.53 | 567 |
2022-11-01 | $225,000 (5.6%) | $410,884 (-8.7%) | 0.54 | 584 |
2022-12-01 | $237,250 (14.3%) | $415,319 (-11.4%) | 0.59 | 567 |
Macon's median listing price comes in at 59% of the national average.
Macon's average listing price for 2022-12-01 was $415,319, a difference of $-53,325 (-11.4%) versus the prior year and $4,435 versus the prior month.
For the 2022-12-01 period, Macon had 567 MLS listings, a difference of -17 listings (-3%) versus the prior month and 160 listings (39%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Macon (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 82 days | 1,916 sqft |
2018-02-01 | 86 days | 1,915 sqft |
2018-03-01 | 73 days | 1,983 sqft |
2018-04-01 | 75 days | 2,016 sqft |
2018-05-01 | 74 days | 2,016 sqft |
2018-06-01 | 76 days | 2,021 sqft |
2018-07-01 | 81 days | 2,021 sqft |
2018-08-01 | 75 days | 2,055 sqft |
2018-09-01 | 85 days | 2,028 sqft |
2018-10-01 | 89 days | 2,072 sqft |
2018-11-01 | 95 days | 2,042 sqft |
2018-12-01 | 103 days | 2,007 sqft |
2019-01-01 | 108 days | 1,978 sqft |
2019-02-01 | 104 days | 1,954 sqft |
2019-03-01 | 98 days | 1,959 sqft |
2019-04-01 | 94 days | 1,980 sqft |
2019-05-01 | 92 days | 2,010 sqft |
2019-06-01 | 81 days | 2,014 sqft |
2019-07-01 | 79 days | 2,005 sqft |
2019-08-01 | 86 days | 2,001 sqft |
2019-09-01 | 88 days | 1,993 sqft |
2019-10-01 | 93 days | 1,987 sqft |
2019-11-01 | 99 days | 2,002 sqft |
2019-12-01 | 101 days | 1,989 sqft |
2020-01-01 | 107 days | 1,961 sqft |
2020-02-01 | 95 days | 1,889 sqft |
2020-03-01 | 76 days | 1,885 sqft |
2020-04-01 | 81 days | 1,867 sqft |
2020-05-01 | 84 days | 1,878 sqft |
2020-06-01 | 86 days | 1,966 sqft |
2020-07-01 | 73 days | 2,060 sqft |
2020-08-01 | 75 days | 2,064 sqft |
2020-09-01 | 70 days | 1,963 sqft |
2020-10-01 | 64 days | 1,904 sqft |
2020-11-01 | 57 days | 1,906 sqft |
2020-12-01 | 57 days | 1,926 sqft |
2021-01-01 | 57 days | 1,919 sqft |
2021-02-01 | 55 days | 1,922 sqft |
2021-03-01 | 45 days | 1,937 sqft |
2021-04-01 | 40 days | 1,911 sqft |
2021-05-01 | 45 days | 1,886 sqft |
2021-06-01 | 39 days | 1,849 sqft |
2021-07-01 | 48 days | 1,857 sqft |
2021-08-01 | 50 days | 1,891 sqft |
2021-09-01 | 47 days | 1,945 sqft |
2021-10-01 | 53 days | 1,952 sqft |
2021-11-01 | 58 days | 1,947 sqft |
2021-12-01 | 61 days | 1,908 sqft |
2022-01-01 | 58 days | 1,779 sqft |
2022-02-01 | 38 days | 1,649 sqft |
2022-03-01 | 35 days | 1,667 sqft |
2022-04-01 | 38 days | 1,755 sqft |
2022-05-01 | 41 days | 1,840 sqft |
2022-06-01 | 34 days | 1,869 sqft |
2022-07-01 | 43 days | 1,880 sqft |
2022-08-01 | 48 days | 1,859 sqft |
2022-09-01 | 46 days | 1,914 sqft |
2022-10-01 | 45 days | 1,912 sqft |
2022-11-01 | 51 days | 1,893 sqft |
2022-12-01 | 63 days | 1,898 sqft |
Macon's median square footage for active listings during the 2022-12-01 period was 1,898 sqft. One year prior, the average listing was 1,908 sqft.