Macon FHA Loan Rates, Closing Costs & Stats

MACON-BIBB COUNTY, GA

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    • 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 6.63% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Macon's average FHA mortgage closing costs are $7,207.

    The average rate for the prior week (2024-11-01) was 6.6% and one month ago for the week of 2024-10-04, the average rate was 5.92%.

    The average rate one year ago was 7.37%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.36%.

    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).