Milledgeville FHA Loan Rates, Closing Costs & Stats

Milledgeville, 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.

Milledgeville's 38 lenders originated 110 FHA loans during 2023. The total origination value was $20,820,000, with an average FHA loan value of $189,273.

Milledgeville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Milledgeville averaged 7.03% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

Milledgeville's average FHA mortgage closing costs are $6,924.

The average rate for the prior week (2024-04-12) was 6.82% and one month ago for the week of 2024-03-15, the average rate was 6.88%.

The average rate one year ago was 6.51%.

For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Milledgeville 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 Milledgeville level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
VAN DYK MORTGAGE CORPORATION 20 6.64% $6,758
QUICKEN LOANS, LLC 10 6.18% $9,061
UNITED WHOLESALE MORTGAGE, LLC 7 6.80% $11,253
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 6.77% $8,831
STOCKTON MORTGAGE CORPORATION 4 6.75% $9,342
Carrington Mortgage Services, LLC 3 5.63% $9,100
HOMESPIRE MORTGAGE CORPORATION 3 6.29% $7,440
MUTUAL OF OMAHA MORTGAGE, INC. 3 7.17% $11,303
Equity Prime Mortgage LLC 3 6.88% $7,001
Flagstar Bank, FSB 2 6.94% $7,979
LOANDEPOT.COM, LLC 2 6.12% $9,832
BROKER SOLUTIONS, INC. 2 6.25% $10,755
Nations Lending Corporation 2 6.88% $5,704
GUILD MORTGAGE COMPANY 2 7.31% $7,804
PLANET HOME LENDING, LLC 2 7.06% $14,671
Regions Bank 2 6.44% $10,362
LAKEVIEW LOAN SERVICING, LLC 2 6.50% $9,835
PENNYMAC LOAN SERVICES, LLC 1 6.25% $12,496
Plains Commerce Bank 1 6.25% $11,245
Platinum Home Mortgage Corporation 1 6.75% $15,865
ACADEMY MORTGAGE CORPORATION 1 6.63% $8,753
ZILLOW HOME LOANS, LLC 1 6.50% $13,263
AMERISAVE MORTGAGE CORPORATION 1 6.25% $23,902
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $11,582
BANKSOUTH MORTGAGE COMPANY, LLC 1 6.63% $7,680
CARDINAL FINANCIAL 1 6.75% $14,488
Century Mortgage Company DBA Century Lending Company 1 6.75% $10,182
CMG MORTGAGE, INC. 1 6.25% $12,580
Colony Bank 1 5.75% $9,538
FIRST COMMUNITY MORTGAGE, INC. 1 6.25% $8,380
FREEDOM MORTGAGE CORPORATION 1 7.25% $8,117
GMFS LLC 1 7.63% $5,168
GUARANTY HOME MORTGAGE CORPORATION 1 6.75% $8,567
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.49% $12,442
HOMESTAR FINANCIAL CORPORATION 1 6.25% $9,808
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.63% $6,356
Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $10,718
NFM, INC. 1 6.63% $14,837

The top Milledgeville FHA lender as defined by loan originations is VAN DYK MORTGAGE CORPORATION, with 20 FHA loans originated. Their average total fees are $6,758, which is $2,302 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Milledgeville FHA lenders (with over 10 loans originated) are VAN DYK MORTGAGE CORPORATION ($6,758), QUICKEN LOANS, LLC ($9,061), .

The lowest rate Milledgeville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.18%), VAN DYK MORTGAGE CORPORATION (6.64%), .

Milledgeville FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
MILLEDGEVILLE, GA BALDWIN 2022 $420,680 $538,650 $651,050 $809,150
MILLEDGEVILLE, GA HANCOCK 2022 $420,680 $538,650 $651,050 $809,150
MILLEDGEVILLE, GA BALDWIN 2023 $472,030 $604,400 $730,525 $907,900
MILLEDGEVILLE, GA HANCOCK 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Milledgeville (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 $187,475 (7.1%) $225,647 (9.8%) 0.00 253
2018-02-01 $189,200 (7.7%) $228,910 (9.5%) 0.00 261
2018-03-01 $186,900 (6.8%) $234,920 (9.6%) 0.00 268
2018-04-01 $188,450 (7.7%) $243,359 (14.5%) 0.00 284
2018-05-01 $189,000 (7.6%) $246,990 (18.8%) 0.00 278
2018-06-01 $191,900 (6.7%) $260,109 (19.3%) 0.00 264
2018-07-01 $194,975 (5.4%) $258,585 (13.7%) 0.00 271
2018-08-01 $194,900 (5.8%) $252,634 (13.7%) 0.00 307
2018-09-01 $191,900 (3.8%) $247,899 (7.5%) 0.00 300
2018-10-01 $191,150 (6.2%) $245,909 (9.2%) 0.00 291
2018-11-01 $190,900 (2.4%) $243,191 (7.7%) 0.00 277
2018-12-01 $190,900 (3.2%) $238,656 (6.0%) 0.00 254
2019-01-01 $190,900 (1.8%) $231,097 (2.4%) 0.00 257
2019-02-01 $193,500 (2.3%) $234,560 (2.5%) 0.00 273
2019-03-01 $207,229 (10.9%) $245,262 (4.4%) 0.00 303
2019-04-01 $229,000 (21.5%) $262,296 (7.8%) 0.00 339
2019-05-01 $235,975 (24.9%) $270,952 (9.7%) 0.00 332
2019-06-01 $225,000 (17.3%) $273,679 (5.2%) 0.00 324
2019-07-01 $222,450 (14.1%) $265,511 (2.7%) 0.00 325
2019-08-01 $227,973 (17.0%) $271,070 (7.3%) 0.00 324
2019-09-01 $232,432 (21.1%) $272,421 (9.9%) 0.00 315
2019-10-01 $240,950 (26.1%) $275,310 (12.0%) 0.00 296
2019-11-01 $239,000 (25.2%) $273,998 (12.7%) 0.00 287
2019-12-01 $229,608 (20.3%) $275,544 (15.5%) 0.00 266
2020-01-01 $244,900 (28.3%) $288,537 (24.9%) 0.00 237
2020-02-01 $242,000 (25.1%) $298,949 (27.5%) 0.00 222
2020-03-01 $244,950 (18.2%) $309,844 (26.3%) 0.00 220
2020-04-01 $240,475 (5.0%) $307,260 (17.1%) 0.00 204
2020-05-01 $259,950 (10.2%) $314,871 (16.2%) 0.00 190
2020-06-01 $244,000 (8.4%) $313,555 (14.6%) 0.00 160
2020-07-01 $234,000 (5.2%) $326,290 (22.9%) 0.00 147
2020-08-01 $237,000 (4.0%) $323,510 (19.4%) 0.00 136
2020-09-01 $237,000 (2.0%) $315,873 (16.0%) 0.00 148
2020-10-01 $240,000 (-0.4%) $313,742 (14.0%) 0.00 151
2020-11-01 $239,000 (0.0%) $313,377 (14.4%) 0.00 130
2020-12-01 $233,850 (1.9%) $331,340 (20.3%) 0.00 141
2021-01-01 $223,450 (-8.8%) $295,447 (2.4%) 0.00 136
2021-02-01 $220,000 (-9.1%) $314,909 (5.3%) 0.00 125
2021-03-01 $230,000 (-6.1%) $296,597 (-4.3%) 0.00 93
2021-04-01 $233,975 (-2.7%) $306,844 (-0.1%) 0.00 92
2021-05-01 $239,950 (-7.7%) $325,470 (3.4%) 0.00 85
2021-06-01 $212,000 (-13.1%) $332,422 (6.0%) 0.00 93
2021-07-01 $212,000 (-9.4%) $335,976 (3.0%) 0.00 88
2021-08-01 $270,500 (14.1%) $353,178 (9.2%) 0.00 101
2021-09-01 $269,900 (13.9%) $347,415 (10.0%) 0.00 105
2021-10-01 $215,000 (-10.4%) $330,590 (5.4%) 0.00 102
2021-11-01 $189,950 (-20.5%) $318,866 (1.8%) 0.00 95
2021-12-01 $185,225 (-20.8%) $287,208 (-13.3%) 0.00 94
2022-01-01 $229,900 (2.9%) $297,540 (0.7%) 0.00 90
2022-02-01 $263,000 (19.6%) $307,209 (-2.5%) 0.00 91
2022-03-01 $295,875 (28.6%) $322,814 (8.8%) 0.00 99
2022-04-01 $310,000 (32.5%) $352,638 (14.9%) 0.00 114
2022-05-01 $314,950 (31.3%) $391,044 (20.2%) 0.00 132
2022-06-01 $347,499 (63.9%) $426,436 (28.3%) 0.00 134
2022-07-01 $349,850 (65.0%) $437,783 (30.3%) 0.00 129
2022-08-01 $379,500 (40.3%) $429,119 (21.5%) 0.00 126
2022-09-01 $367,950 (36.3%) $414,742 (19.4%) 0.00 135
2022-10-01 $368,000 (71.2%) $419,359 (26.9%) 0.00 132
2022-11-01 $355,975 (87.4%) $426,142 (33.6%) 0.00 120
2022-12-01 $349,900 (88.9%) $429,870 (49.7%) 0.00 110
2023-01-01 $349,450 (52.0%) $416,419 (40.0%) 0.00 117
2023-02-01 $334,675 (27.3%) $406,708 (32.4%) 0.00 102
2023-03-01 $349,225 (18.0%) $456,154 (41.3%) 0.00 99
2023-04-01 $340,000 (9.7%) $449,028 (27.3%) 0.00 114
2023-05-01 $347,000 (10.2%) $460,832 (17.9%) 0.00 102
2023-06-01 $346,750 (-0.2%) $495,685 (16.2%) 0.00 103
2023-07-01 $279,400 (-20.1%) $438,745 (0.2%) 0.00 126
2023-08-01 $299,450 (-21.1%) $444,937 (3.7%) 0.00 130
2023-09-01 $299,450 (-18.6%) $463,715 (11.8%) 0.00 129
2023-10-01 $279,250 (-24.1%) $448,874 (7.0%) 0.00 138
2023-11-01 $278,475 (-21.8%) $459,422 (7.8%) 0.00 137
2023-12-01 $302,450 (-13.6%) $462,298 (7.5%) 0.00 135
2024-01-01 $299,875 (-14.2%) $463,802 (11.4%) 0.00 133
2024-02-01 $319,975 (-4.4%) $484,978 (19.2%) 0.00 141
2024-03-01 $334,950 (-4.1%) $512,779 (12.4%) 0.00 135
Milledgeville's median listing price for 2024-03-01 was $334,950, a difference of $-14,275 (-4.1%) versus the prior year and $14,975 versus the prior month.

Milledgeville's median listing price comes in at 0% of the national average.

Milledgeville's average listing price for 2024-03-01 was $512,779, a difference of $56,625 (12.4%) versus the prior year and $27,801 versus the prior month.

For the 2024-03-01 period, Milledgeville had 135 MLS listings, a difference of -6 listings (-4%) versus the prior month and 36 listings (36%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Milledgeville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,835 sqft
2018-02-01 0 days 1,917 sqft
2018-03-01 0 days 1,902 sqft
2018-04-01 0 days 1,898 sqft
2018-05-01 0 days 1,834 sqft
2018-06-01 0 days 1,916 sqft
2018-07-01 0 days 1,937 sqft
2018-08-01 0 days 1,852 sqft
2018-09-01 0 days 1,889 sqft
2018-10-01 0 days 1,911 sqft
2018-11-01 0 days 1,909 sqft
2018-12-01 0 days 1,886 sqft
2019-01-01 0 days 1,848 sqft
2019-02-01 0 days 1,886 sqft
2019-03-01 0 days 2,009 sqft
2019-04-01 0 days 2,174 sqft
2019-05-01 0 days 2,151 sqft
2019-06-01 0 days 2,150 sqft
2019-07-01 0 days 2,105 sqft
2019-08-01 0 days 2,079 sqft
2019-09-01 0 days 2,074 sqft
2019-10-01 0 days 2,057 sqft
2019-11-01 0 days 2,030 sqft
2019-12-01 0 days 2,017 sqft
2020-01-01 0 days 2,124 sqft
2020-02-01 0 days 2,100 sqft
2020-03-01 0 days 2,108 sqft
2020-04-01 0 days 2,065 sqft
2020-05-01 0 days 2,100 sqft
2020-06-01 0 days 2,126 sqft
2020-07-01 0 days 2,163 sqft
2020-08-01 0 days 2,275 sqft
2020-09-01 0 days 2,233 sqft
2020-10-01 0 days 2,295 sqft
2020-11-01 0 days 2,240 sqft
2020-12-01 0 days 2,150 sqft
2021-01-01 0 days 2,128 sqft
2021-02-01 0 days 2,128 sqft
2021-03-01 0 days 2,091 sqft
2021-04-01 0 days 1,893 sqft
2021-05-01 0 days 1,776 sqft
2021-06-01 0 days 1,850 sqft
2021-07-01 0 days 1,892 sqft
2021-08-01 0 days 1,933 sqft
2021-09-01 0 days 1,935 sqft
2021-10-01 0 days 1,748 sqft
2021-11-01 0 days 1,632 sqft
2021-12-01 0 days 1,643 sqft
2022-01-01 0 days 1,752 sqft
2022-02-01 0 days 1,764 sqft
2022-03-01 0 days 2,006 sqft
2022-04-01 0 days 1,947 sqft
2022-05-01 0 days 1,942 sqft
2022-06-01 0 days 1,800 sqft
2022-07-01 0 days 1,800 sqft
2022-08-01 0 days 1,806 sqft
2022-09-01 0 days 1,800 sqft
2022-10-01 0 days 1,944 sqft
2022-11-01 0 days 2,057 sqft
2022-12-01 0 days 2,090 sqft
2023-01-01 0 days 1,953 sqft
2023-02-01 0 days 1,853 sqft
2023-03-01 0 days 2,049 sqft
2023-04-01 0 days 1,836 sqft
2023-05-01 0 days 1,806 sqft
2023-06-01 0 days 1,691 sqft
2023-07-01 0 days 1,632 sqft
2023-08-01 0 days 1,720 sqft
2023-09-01 0 days 1,786 sqft
2023-10-01 0 days 1,652 sqft
2023-11-01 0 days 1,800 sqft
2023-12-01 0 days 1,788 sqft
2024-01-01 0 days 1,796 sqft
2024-02-01 0 days 1,986 sqft
2024-03-01 0 days 2,036 sqft
Milledgeville's median listing age (time on market) for 2024-03-01 was 0 days.

Milledgeville's median square footage for active listings during the 2024-03-01 period was 2,036 sqft. One year prior, the average listing was 2,049 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).