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 128 lenders originated 810 FHA
loans during 2023. The total origination value was $165,280,000, with an average FHA loan value of
$204,049.
Macon FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Macon
averaged
6.2%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Macon's average FHA mortgage closing costs are $7,207.
The average rate for the prior week (2024-10-04) was
5.72% and
one month ago for the week of 2024-09-06, the
average rate was 6.25%.
The average rate one year ago was 7.38%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.24%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
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.
Name |
# of Loans |
2023 Avg. 30yFix Rate |
2023 Avg. Closing Costs |
QUICKEN LOANS, LLC
|
95
|
6.38%
|
$9,469
|
UNITED WHOLESALE MORTGAGE, LLC
|
52
|
6.35%
|
$10,627
|
ATLANTIC BAY MORTGAGE GROUP, L.L.C.
|
52
|
6.61%
|
$9,081
|
BROKER SOLUTIONS, INC.
|
45
|
6.40%
|
$9,481
|
GUILD MORTGAGE COMPANY
|
27
|
6.78%
|
$9,307
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
27
|
6.93%
|
$8,118
|
INSPIRE HOME LOANS INC.
|
24
|
5.90%
|
$8,346
|
FBC MORTGAGE, LLC
|
20
|
5.21%
|
$9,110
|
Colony Bank
|
14
|
6.56%
|
$9,971
|
CROSSCOUNTRY MORTGAGE, LLC
|
12
|
7.21%
|
$9,844
|
HOMESTAR FINANCIAL CORPORATION
|
11
|
6.24%
|
$8,634
|
LOANDEPOT.COM, LLC
|
11
|
6.67%
|
$7,848
|
First Federal Bank
|
11
|
6.59%
|
$10,113
|
Carrington Mortgage Services, LLC
|
10
|
6.10%
|
$11,077
|
BancorpSouth
|
10
|
6.38%
|
$7,452
|
ACADEMY MORTGAGE CORPORATION
|
10
|
7.04%
|
$12,871
|
VAN DYK MORTGAGE CORPORATION
|
10
|
6.93%
|
$7,955
|
Ameris Bank
|
10
|
6.34%
|
$12,436
|
CANOPY MORTGAGE, LLC
|
10
|
6.64%
|
$15,644
|
AMERISAVE MORTGAGE CORPORATION
|
10
|
6.29%
|
$12,253
|
EVERETT FINANCIAL, INC.
|
9
|
7.29%
|
$12,246
|
MOVEMENT MORTGAGE, LLC
|
8
|
6.53%
|
$10,107
|
MILEND, INC.
|
8
|
6.53%
|
$11,672
|
FREEDOM MORTGAGE CORPORATION
|
8
|
7.06%
|
$10,895
|
GUARANTEED RATE, INC.
|
8
|
6.69%
|
$9,206
|
Mr. Cooper ( Nationstar Mortgage )
|
7
|
6.21%
|
$10,298
|
CARDINAL FINANCIAL
|
7
|
6.46%
|
$10,908
|
HOMESPIRE MORTGAGE CORPORATION
|
7
|
6.25%
|
$8,210
|
SOUTHEAST MORTGAGE OF GEORGIA, INC.
|
7
|
6.82%
|
$10,491
|
THRIVE MORTGAGE, LLC
|
7
|
6.70%
|
$9,913
|
Equity Prime Mortgage LLC
|
7
|
6.88%
|
$11,044
|
AMERICAN FINANCIAL NETWORK, INC.
|
6
|
7.21%
|
$12,604
|
Flagstar Bank, FSB
|
6
|
6.76%
|
$8,272
|
PENNYMAC LOAN SERVICES, LLC
|
5
|
5.55%
|
$10,631
|
NEWREZ LLC
|
5
|
6.43%
|
$9,761
|
First Option Mortgage, LLC
|
5
|
6.63%
|
$10,519
|
VANDERBILT MORTGAGE AND FINANCE, INC.
|
5
|
6.78%
|
$9,383
|
NFM, INC.
|
5
|
6.60%
|
$9,264
|
Renasant Bank
|
5
|
6.25%
|
$8,910
|
CRESCENT MORTGAGE COMPANY
|
5
|
6.30%
|
$9,379
|
LAKEVIEW LOAN SERVICING, LLC
|
5
|
6.43%
|
$9,385
|
TOP FLITE FINANCIAL, INC.
|
4
|
6.72%
|
$6,759
|
SUMMIT FUNDING, INC.
|
4
|
7.22%
|
$12,123
|
EMM LOANS LLC
|
4
|
7.38%
|
$8,328
|
ZILLOW HOME LOANS, LLC
|
4
|
6.50%
|
$8,963
|
MORTGAGE INVESTORS GROUP, INC.
|
3
|
6.58%
|
$6,945
|
FIRST COLONY MORTGAGE CORPORATION
|
3
|
7.38%
|
$6,769
|
Prosperity Home Mortgage, LLC
|
3
|
6.42%
|
$7,946
|
PLANET HOME LENDING, LLC
|
3
|
6.96%
|
$12,925
|
Mortgage Research Center, LLC
|
3
|
7.13%
|
$9,103
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
3
|
6.63%
|
$10,152
|
VILLAGE CAPITAL MORTGAGE
|
3
|
6.00%
|
$12,050
|
Nations Lending Corporation
|
3
|
7.04%
|
$7,721
|
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC.
|
3
|
5.79%
|
$13,592
|
LOANPAL, LLC
|
3
|
6.58%
|
$7,618
|
ACOPIA, LLC
|
3
|
6.25%
|
$8,009
|
Paramount Residential Mortgage Group, Inc.
|
3
|
6.67%
|
$9,504
|
SECURITYNATIONAL MORTGAGE COMPANY
|
3
|
7.42%
|
$11,502
|
Capital City Home Loans, LLC
|
3
|
6.42%
|
$8,544
|
AmeriHome Mortgage Company, LLC
|
3
|
6.58%
|
$5,240
|
Truist
|
3
|
5.75%
|
$9,833
|
FIRST COMMUNITY MORTGAGE, INC.
|
3
|
7.42%
|
$7,289
|
NBKC BANK
|
2
|
5.81%
|
$8,723
|
AMERICAN FINANCING CORPORATION
|
2
|
6.69%
|
$8,362
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
2
|
7.00%
|
$8,083
|
Bank of America
|
2
|
6.44%
|
$6,339
|
BAYSHORE MORTGAGE FUNDING, LLC
|
2
|
7.56%
|
$15,715
|
CMG MORTGAGE, INC.
|
2
|
6.88%
|
$12,667
|
CONTOUR MORTGAGE CORPORATION
|
2
|
7.19%
|
$9,828
|
DAS Acquisition Company, LLC
|
2
|
6.88%
|
$9,639
|
GMFS LLC
|
2
|
6.19%
|
$7,489
|
GSF Mortgage Corporation
|
2
|
5.69%
|
$5,772
|
GUARANTEED RATE AFFINITY, LLC
|
2
|
6.38%
|
$6,463
|
HOMESIDE FINANCIAL, LLC
|
2
|
7.44%
|
$11,337
|
JPMorgan Chase Bank
|
2
|
7.06%
|
$5,681
|
Keystone Funding, Inc.
|
2
|
6.12%
|
$8,902
|
Lakeview Community Capital, LLC
|
2
|
6.00%
|
$8,279
|
OCMBC, INC.
|
2
|
6.50%
|
$9,592
|
Regions Bank
|
2
|
7.50%
|
$7,672
|
Shamrock Home Loans, Inc.
|
2
|
6.25%
|
$6,848
|
STOCKTON MORTGAGE CORPORATION
|
2
|
6.75%
|
$10,859
|
Synovus Bank
|
2
|
5.88%
|
$8,328
|
TOWNE MORTGAGE COMPANY
|
2
|
6.81%
|
$11,649
|
UNION HOME MORTGAGE CORP.
|
2
|
6.38%
|
$13,057
|
CHURCHILL MORTGAGE CORPORATION
|
1
|
6.13%
|
$9,063
|
OPEN MORTGAGE, LLC
|
1
|
6.25%
|
$9,849
|
PANORAMA MORTGAGE GROUP, LLC
|
1
|
7.49%
|
$16,845
|
HOMEOWNERS FINANCIAL GROUP USA, LLC
|
1
|
6.75%
|
$12,056
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
1
|
6.88%
|
$8,669
|
PENTAGON FEDERAL CREDIT UNION
|
1
|
5.38%
|
$10,001
|
PHH Mortgage Corporation
|
1
|
5.99%
|
$9,546
|
Franklin Loan Corporation
|
1
|
5.88%
|
$17,244
|
Platinum Home Mortgage Corporation
|
1
|
6.75%
|
$16,781
|
PLAZA HOME MORTGAGE, INC.
|
1
|
6.50%
|
$6,854
|
POLARIS HOME FUNDING CORP.
|
1
|
6.25%
|
$9,818
|
Presidential Bank, FSB
|
1
|
7.25%
|
$10,960
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
1
|
6.25%
|
$15,486
|
PRIMELENDING, A PLAINSCAPITAL COMPANY
|
1
|
7.13%
|
$17,003
|
FirstBank
|
1
|
5.50%
|
$7,224
|
Evolve Bank & Trust
|
1
|
6.13%
|
$7,702
|
RADIUS FINANCIAL GROUP INC.
|
1
|
6.50%
|
$12,712
|
AMERICAN FINANCIAL RESOURCES, INC.
|
1
|
7.50%
|
$10,250
|
RELIANCE FIRST CAPITAL, LLC
|
1
|
6.50%
|
$9,448
|
ENVOY MORTGAGE, LTD
|
1
|
6.75%
|
$8,794
|
RESIDENTIAL BANCORP
|
1
|
6.38%
|
$10,582
|
RUOFF MORTGAGE COMPANY, INC.
|
1
|
5.25%
|
$5,706
|
SeaTrust Mortgage Company
|
1
|
7.13%
|
$4,832
|
DIRECT LENDERS, LLC
|
1
|
6.63%
|
$13,807
|
Century Mortgage Company DBA Century Lending Company
|
1
|
6.75%
|
$14,247
|
DIAMOND RESIDENTIAL MORTGAGE CORPORATION
|
1
|
6.38%
|
$11,171
|
SOUTHPOINT FINANCIAL SERVICES, INC.
|
1
|
6.75%
|
$9,888
|
South State Bank
|
1
|
6.99%
|
$7,906
|
CBM Mortgage, Inc.
|
1
|
6.88%
|
$11,471
|
Colonial Savings, F.A.
|
1
|
6.50%
|
$14,648
|
SUN WEST MORTGAGE COMPANY, INC.
|
1
|
6.88%
|
$9,444
|
SWBC MORTGAGE CORPORATION
|
1
|
7.25%
|
$8,258
|
BAY EQUITY LLC
|
1
|
6.63%
|
$9,774
|
The Federal Savings Bank
|
1
|
5.25%
|
$20,507
|
CityWorth Mortgage LLC
|
1
|
5.75%
|
$12,458
|
CITY FIRST MORTGAGE SERVICES, L.L.C.
|
1
|
7.25%
|
$7,542
|
BANKSOUTH MORTGAGE COMPANY, LLC
|
1
|
6.25%
|
$8,013
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
1
|
7.50%
|
$9,419
|
MORTGAGE ACCESS CORP.
|
1
|
7.63%
|
$11,112
|
MID AMERICA MORTGAGE, INC.
|
1
|
6.50%
|
$9,295
|
MEMBER FIRST MORTGAGE, LLC
|
1
|
7.13%
|
$7,356
|
NEW DAY FINANCIAL, LLC
|
1
|
7.99%
|
$6,140
|
LIBERTY HOME MORTGAGE CORPORATION
|
1
|
7.13%
|
$9,593
|
LEADERONE FINANCIAL CORPORATION
|
1
|
5.63%
|
$8,632
|
The top Macon FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
95 FHA loans originated. Their average total fees are
$9,469, which is $1,158
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Macon FHA lenders (with over 10 loans originated) are
BancorpSouth ($7,452), LOANDEPOT.COM, LLC ($7,848), VAN DYK MORTGAGE CORPORATION ($7,955), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,118) and INSPIRE HOME LOANS INC. ($8,346).
The lowest rate Macon FHA lenders (with over 10 loans originated) are
FBC MORTGAGE, LLC (5.21%), INSPIRE HOME LOANS INC. (5.90%), Carrington Mortgage Services, LLC (6.10%), HOMESTAR FINANCIAL CORPORATION (6.24%) and AMERISAVE MORTGAGE CORPORATION (6.29%).
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 |
MACON-BIBB COUNTY, GA |
BIBB |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
MACON-BIBB COUNTY, GA |
CRAWFORD |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
MACON-BIBB COUNTY, GA |
JONES |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
MACON-BIBB COUNTY, GA |
MONROE |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
MACON-BIBB COUNTY, GA |
TWIGGS |
2023 |
$472,030 |
$604,400 |
$730,525 |
$907,900 |
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).