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).