Milledgeville FHA Loan Rates, Closing Costs & Stats

Milledgeville, 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.

    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 6.35% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

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

    The average rate for the prior week (2024-12-06) was 6.22% and one month ago for the week of 2024-11-08, the average rate was 6.38%.

    The average rate one year ago was 6.89%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

    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
    2024-04-01 $366,950 (7.9%) $558,793 (24.5%) 0.00 156
    2024-05-01 $394,250 (13.6%) $612,048 (32.8%) 0.00 158
    2024-06-01 $399,000 (15.1%) $652,276 (31.6%) 0.00 141
    2024-07-01 $339,000 (21.3%) $610,172 (39.1%) 0.00 146
    2024-08-01 $349,900 (16.9%) $624,440 (40.3%) 0.00 151
    2024-09-01 $384,000 (28.2%) $634,819 (36.9%) 0.00 168
    2024-10-01 $386,475 (38.4%) $609,979 (35.9%) 0.00 169
    2024-11-01 $389,000 (39.7%) $594,710 (29.5%) 0.00 171
    Milledgeville's median listing price for 2024-11-01 was $389,000, a difference of $110,525 (39.7%) versus the prior year and $2,525 versus the prior month.

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

    Milledgeville's average listing price for 2024-11-01 was $594,710, a difference of $135,288 (29.5%) versus the prior year and $-15,269 versus the prior month.

    For the 2024-11-01 period, Milledgeville had 171 MLS listings, a difference of 2 listings (1%) versus the prior month and 34 listings (25%) 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
    2024-04-01 0 days 1,941 sqft
    2024-05-01 0 days 2,016 sqft
    2024-06-01 0 days 2,066 sqft
    2024-07-01 0 days 2,028 sqft
    2024-08-01 0 days 2,056 sqft
    2024-09-01 0 days 2,056 sqft
    2024-10-01 0 days 2,096 sqft
    2024-11-01 0 days 2,109 sqft
    Milledgeville's median listing age (time on market) for 2024-11-01 was 0 days.

    Milledgeville's median square footage for active listings during the 2024-11-01 period was 2,109 sqft. One year prior, the average listing was 1,800 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).