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%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
QUICKEN LOANS, LLC 154 2.78% $5,661
GUILD MORTGAGE COMPANY 68 3.39% $7,780
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 54 3.27% $6,667
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 54 3.16% $6,847
INSPIRE HOME LOANS INC. 46 3.27% $6,913
Renasant Bank 42 3.20% $5,900
CROSSCOUNTRY MORTGAGE, LLC 41 3.23% $7,294
BROKER SOLUTIONS, INC. 41 3.42% $6,919
HOMESTAR FINANCIAL CORPORATION 40 3.14% $5,613
HOMEBRIDGE FINANCIAL SERVICES, INC. 26 3.35% $7,255
First Federal Bank 24 3.09% $5,792
Colony Bank 24 2.83% $5,984
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 23 3.48% $7,610
PENNYMAC LOAN SERVICES, LLC 22 3.16% $3,836
UNITED WHOLESALE MORTGAGE, LLC 19 2.88% $7,306
Mr. Cooper ( Nationstar Mortgage ) 19 3.51% $3,276
LOANDEPOT.COM, LLC 17 3.53% $6,713
LAKEVIEW LOAN SERVICING, LLC 16 3.16% $4,085
CALIBER HOME LOANS, INC. 13 2.98% $6,012
Carrington Mortgage Services, LLC 12 3.35% $7,784
FREEDOM MORTGAGE CORPORATION 12 3.06% $4,150
Ameris Bank 11 3.14% $6,930
VILLAGE CAPITAL MORTGAGE 11 3.19% $2,495
ISERVE RESIDENTIAL LENDING, LLC 9 3.26% $10,762
SECURITYNATIONAL MORTGAGE COMPANY 9 3.13% $8,297
Platinum Home Mortgage Corporation 8 3.50% $10,841
CRESCENT MORTGAGE COMPANY 8 2.61% $8,036
Equity Prime Mortgage LLC 8 3.73% $4,011
Paramount Residential Mortgage Group, Inc. 8 3.33% $7,361
Capital City Home Loans, LLC 7 2.98% $7,299
AmeriHome Mortgage Company, LLC 7 3.04% $4,350
Synovus Bank 7 2.77% $6,177
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 7 3.04% $7,334
South State Bank 7 2.89% $6,813
NEWREZ LLC 6 3.27% $4,174
HOME POINT FINANCIAL CORPORATION 6 3.00% $7,004
Lakeview Community Capital, LLC 6 3.29% $4,386
VAN DYK MORTGAGE CORPORATION 6 3.46% $4,709
GMFS LLC 5 2.82% $5,453
MOVEMENT MORTGAGE, LLC 5 3.60% $5,873
Prosperity Home Mortgage, LLC 5 3.48% $8,315
AMERICAN FINANCIAL NETWORK, INC. 5 2.98% $10,032
SOUTHEAST MORTGAGE OF GEORGIA, INC. 5 3.53% $7,794
BANKSOUTH MORTGAGE COMPANY, LLC 5 2.83% $8,650
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 4.00% $5,755
VANDERBILT MORTGAGE AND FINANCE, INC. 4 2.97% $7,042
Mortgage Research Center, LLC 4 2.94% $4,848
AMERICAN FINANCING CORPORATION 4 3.28% $7,029
Bank of England 4 3.47% $6,415
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 3.78% $7,275
First Guaranty Mortgage Corporation 4 2.97% $6,422
First Option Mortgage, LLC 4 3.19% $7,539
MUTUAL OF OMAHA MORTGAGE, INC. 4 3.09% $7,007
JET DIRECT FUNDING CORP 4 2.97% $7,013
GUARANTEED RATE AFFINITY, LLC 4 3.00% $6,508
Sierra Pacific Mortgage Company, Inc. 3 3.42% $8,105
ANGEL OAK HOME LOANS LLC 3 3.13% $6,615
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 2.79% $8,353
SUCCESS MORTGAGE PARTNERS, INC. 3 3.13% $8,983
HOMESPIRE MORTGAGE CORPORATION 3 3.13% $4,782
AMERISAVE MORTGAGE CORPORATION 3 3.33% $7,202
STEARNS LENDING, LLC 3 3.13% $5,689
Hometown Equity Mortgage, LLC 2 2.94% $7,149
ACOPIA, LLC 2 4.31% $9,999
BAY EQUITY LLC 2 3.56% $5,451
CERTAINTY HOME LOANS, LLC 2 2.56% $8,263
CMG MORTGAGE, INC. 2 3.75% $9,273
CREDIT UNION FINANCIAL SERVICES, LLC 2 3.06% $3,396
EVERETT FINANCIAL, INC. 2 3.63% $6,094
GUARANTEED RATE, INC. 2 2.94% $9,970
LENDUS, LLC 2 3.25% $7,737
LIBERTY HOME MORTGAGE CORPORATION 2 3.06% $8,563
MEGASTAR FINANCIAL CORP. 2 3.00% $5,292
North American Savings Bank, F.S.B. 2 3.44% $3,278
PANORAMA MORTGAGE GROUP, LLC 2 2.50% $6,398
RELIANCE FIRST CAPITAL, LLC 2 2.81% $8,713
SHELTER HOME MORTGAGE, LLC 2 3.56% $6,014
SUMMIT FUNDING, INC. 2 2.87% $5,513
THE MORTGAGE FIRM, INC. 2 3.44% $7,234
MORIA DEVELOPMENT, INC. 1 3.38% $5,945
MORTGAGE INVESTORS GROUP, INC. 1 2.75% $5,056
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 2.88% $4,468
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.75% $5,879
GUARANTY HOME MORTGAGE CORPORATION 1 3.38% $4,545
GoPrime Mortgage, Inc. 1 3.25% $5,472
GENEVA FINANCIAL, LLC 1 2.88% $7,270
Network Funding, L.P. 1 3.25% $6,629
Gateway First Bank 1 4.38% $3,461
UNITED SECURITY FINANCIAL CORP 1 2.88% $4,208
OCEANSIDE MORTGAGE COMPANY 1 2.75% $2,261
AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.38% $5,812
FLAT BRANCH MORTGAGE, INC. 1 4.13% $9,528
Flagstar Bank, FSB 1 2.47% $5,138
Peoples Bank 1 3.63% $6,345
First Reliance Bank 1 3.13% $8,823
PLAZA HOME MORTGAGE, INC. 1 3.49% $7,479
PNC Bank 1 3.00% $3,501
POLARIS HOME FUNDING CORP. 1 3.25% $11,112
First Horizon Bank 1 3.00% $6,078
FINANCE OF AMERICA MORTGAGE LLC 1 3.25% $7,503
Evolve Bank & Trust 1 3.13% $8,418
EMBRACE HOME LOANS, INC. 1 4.13% $4,596
RADIUS FINANCIAL GROUP INC. 1 3.75% $7,728
Regions Bank 1 3.25% $6,804
AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $4,989
CONTOUR MORTGAGE CORPORATION 1 3.50% $7,763
CityWorth Mortgage LLC 1 3.75% $8,049
Alcova Mortgage LLC 1 3.25% $3,427
Citizens Bank 1 3.13% $5,022
CELEBRITY HOME LOANS, LLC 1 3.38% $7,474
SOUTHPOINT FINANCIAL SERVICES, INC. 1 2.88% $4,246
Cadence Bank, N.A. 1 2.38% $5,057
BECKAM FUNDING CORP. 1 3.88% $7,991
STOCKTON MORTGAGE CORPORATION 1 2.38% $7,219
Barrington Bank & Trust Company, N.A. 1 3.88% $7,447
Victorian Finance, LLC 1 3.13% $4,525
Atlantic Union Bank 1 3.25% $6,142
The Federal Savings Bank 1 2.38% $9,993
The Huntington National Bank 1 3.13% $9,590
ACADEMY MORTGAGE CORPORATION 1 3.75% $10,446
TJC Mortgage, Inc. 1 3.25% $7,283
TOP FLITE FINANCIAL, INC. 1 3.25% $14,821
JPMorgan Chase Bank 1 3.13% $2,864
INTERLINC MORTGAGE SERVICES, LLC 1 3.38% $5,188
1ST SIGNATURE LENDING, LLC 1 3.25% $5,901
Truist 1 3.00% $5,572
United Bank 1 2.88% $7,738
HOMESIDE FINANCIAL, LLC 1 3.00% $6,289
United Community Bank 1 3.25% $4,501
MEMBER FIRST MORTGAGE, LLC 1 3.13% $3,902
MID AMERICA MORTGAGE, INC. 1 2.50% $2,870

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. Louis
Date 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 for 2022-12-01 was $237,250, a difference of $29,755 (14.3%) versus the prior year and $12,250 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-12-01 was 63 days. This is 3% longer than the same period one year ago.

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.

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).