Rome FHA Loan Rates, Closing Costs & Stats

ROME, 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.

    Rome's 90 lenders originated 434 FHA loans during 2024. The total origination value was $97,290,000, with an average FHA loan value of $224,171.

    Rome FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Rome averaged 6.6% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Rome's average FHA mortgage closing costs are $7,274.

    The average rate for the prior week (2025-03-28) was 6.4% and one month ago for the week of 2025-02-28, the average rate was 6.48%.

    The average rate one year ago was 6.9%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.25%.

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

    Rome 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 Rome level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 32 6.37% $10,258
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 6.76% $9,276
    MOVEMENT MORTGAGE, LLC 20 6.33% $11,928
    UNITED WHOLESALE MORTGAGE, LLC 19 6.26% $12,578
    CANOPY MORTGAGE, LLC 18 6.32% $14,614
    AMERICAN PACIFIC MORTGAGE CORPORATION 17 6.79% $10,066
    BANKSOUTH MORTGAGE COMPANY, LLC 17 6.35% $12,176
    EVERETT FINANCIAL, INC. 15 6.98% $11,750
    Renasant Bank 13 6.58% $8,238
    FirstBank 12 6.45% $10,762
    PENNYMAC LOAN SERVICES, LLC 12 6.02% $10,113
    FREEDOM MORTGAGE CORPORATION 8 6.53% $9,910
    Ameris Bank 8 6.22% $8,335
    BROKER SOLUTIONS, INC. 7 6.57% $10,410
    SWBC MORTGAGE CORPORATION 6 6.06% $3,864
    Regions Bank 6 6.44% $8,534
    LOANDEPOT.COM, LLC 5 6.25% $8,820
    SOUTHPOINT FINANCIAL SERVICES, INC. 5 6.63% $8,257
    CROSSCOUNTRY MORTGAGE, LLC 5 7.20% $8,999
    Prosperity Home Mortgage, LLC 5 5.68% $13,045
    Equity Prime Mortgage LLC 5 7.38% $8,691
    NJ LENDERS CORP. 5 5.97% $14,880
    VANDERBILT MORTGAGE AND FINANCE, INC. 4 6.37% $10,172
    GUARANTEED RATE, INC. 4 6.47% $10,144
    Synovus Bank 4 5.88% $10,278
    UNION HOME MORTGAGE CORP. 4 6.31% $10,607
    DIRECT LENDERS, LLC 4 6.25% $6,386
    TOWNE MORTGAGE COMPANY 3 6.75% $11,125
    Carrington Mortgage Services, LLC 3 6.25% $12,496
    Flagstar Bank, FSB 3 6.46% $8,707
    MID AMERICA MORTGAGE, INC. 3 7.33% $7,983
    NVR Mortgage Finance, Inc. 3 5.75% $9,304
    PLANET HOME LENDING, LLC 3 6.38% $7,329
    SUMMIT FUNDING, INC. 3 6.88% $13,763
    United Community Bank 3 6.50% $9,561
    LAKEVIEW LOAN SERVICING, LLC 2 6.69% $6,930
    STOCKTON MORTGAGE CORPORATION 2 6.06% $8,371
    Mr. Cooper ( Nationstar Mortgage ) 2 6.44% $15,581
    PNC Bank 2 6.38% $10,385
    PREMIA MORTGAGE, LLC 2 6.31% $6,413
    AMERICAN FINANCIAL NETWORK, INC. 2 7.25% $11,156
    ACOPIA, LLC 2 6.62% $9,843
    JPMorgan Chase Bank 2 6.63% $5,558
    Mortgage Assurance Inc. 2 6.13% $8,958
    ZILLOW HOME LOANS, LLC 2 6.94% $8,081
    LOANPAL, LLC 2 5.68% $7,872
    CMG MORTGAGE, INC. 2 5.99% $14,811
    US MORTGAGE CORPORATION 2 7.31% $12,702
    VILLAGE CAPITAL MORTGAGE 2 6.87% $3,921
    Paramount Residential Mortgage Group, Inc. 2 6.00% $10,602
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 2 6.44% $5,243
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.50% $12,185
    HOMEOWNERS FINANCIAL GROUP USA, LLC 2 6.94% $13,433
    Wells Fargo Bank 1 6.63% $8,625
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.88% $4,159
    ENDEAVOR CAPITAL, LLC. 1 6.25% $9,748
    EMM LOANS LLC 1 5.88% $16,257
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 5.50% $14,450
    RUOFF MORTGAGE COMPANY, INC. 1 6.13% $5,418
    SIRVA MORTGAGE, INC. 1 6.50% $4,078
    CityWorth Mortgage LLC 1 6.25% $11,424
    Wolfe Financial, Inc 1 6.75% $10,438
    CARDINAL FINANCIAL 1 6.25% $6,641
    Capital City Home Loans, LLC 1 7.00% $7,418
    TJC Mortgage, Inc. 1 6.63% $14,211
    Truist 1 6.20% $10,556
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.00% $11,594
    AMERICAN FINANCIAL RESOURCES, INC. 1 5.75% $17,852
    HOMESIDE FINANCIAL, LLC 1 6.25% $16,187
    GSF Mortgage Corporation 1 7.25% $12,576
    First Option Mortgage, LLC 1 7.63% $9,551
    GUILD MORTGAGE COMPANY 1 6.50% $9,520
    U.S. Bank 1 7.13% $7,748
    HOMESPIRE MORTGAGE CORPORATION 1 5.75% $9,799
    Hometown Equity Mortgage, LLC 1 6.50% $6,134
    ISERVE RESIDENTIAL LENDING, LLC 1 6.75% $22,656
    Ixonia Bank 1 6.13% $16,057
    JMAC LENDING, INC. 1 6.13% $11,310
    LEADERONE FINANCIAL CORPORATION 1 6.50% $13,452
    LIBERTY HOME MORTGAGE CORPORATION 1 7.00% $5,958
    FIRST COLONY MORTGAGE CORPORATION 1 6.25% $6,877
    Loan Simple, Inc. 1 7.25% $11,582
    MILEND, INC. 1 6.13% $19,094
    MORTGAGE INVESTORS GROUP, INC. 1 6.13% $13,704
    Fifth Third Bank 1 6.63% $6,796
    M&T Bank 1 6.13% $8,143
    NEWREZ LLC 1 7.25% $7,164
    FBC MORTGAGE, LLC 1 6.75% $9,439
    Northpointe Bank 1 6.13% $11,246
    ENVOY MORTGAGE, LTD 1 5.50% $10,187

    The top Rome FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 32 FHA loans originated. Their average total fees are $10,258, which is $982 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Rome FHA lenders (with over 10 loans originated) are Renasant Bank ($8,238), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,276), AMERICAN PACIFIC MORTGAGE CORPORATION ($10,066), PENNYMAC LOAN SERVICES, LLC ($10,113) and QUICKEN LOANS, LLC ($10,258).

    The lowest rate Rome FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (6.02%), UNITED WHOLESALE MORTGAGE, LLC (6.26%), CANOPY MORTGAGE, LLC (6.32%), MOVEMENT MORTGAGE, LLC (6.33%) and BANKSOUTH MORTGAGE COMPANY, LLC (6.35%).

    Rome FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Rome (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 $179,700 (15.1%) $243,993 (5.6%) 0.00 320
    2018-02-01 $170,575 (11.2%) $229,231 (5.1%) 0.00 326
    2018-03-01 $175,000 (15.8%) $233,905 (5.8%) 0.00 339
    2018-04-01 $179,900 (13.6%) $249,023 (8.8%) 0.00 362
    2018-05-01 $189,500 (18.5%) $260,546 (11.5%) 0.00 353
    2018-06-01 $199,000 (18.0%) $268,334 (13.4%) 0.00 353
    2018-07-01 $192,350 (16.7%) $264,456 (13.6%) 0.00 381
    2018-08-01 $177,400 (4.4%) $255,653 (7.2%) 0.00 427
    2018-09-01 $174,950 (3.0%) $264,159 (11.8%) 0.00 402
    2018-10-01 $159,683 (-8.7%) $241,672 (-1.3%) 0.00 449
    2018-11-01 $164,900 (-5.8%) $244,198 (0.7%) 0.00 461
    2018-12-01 $160,000 (-8.5%) $246,080 (2.5%) 0.00 442
    2019-01-01 $158,563 (-11.8%) $248,118 (1.7%) 0.00 401
    2019-02-01 $169,900 (-0.4%) $274,795 (19.9%) 0.00 385
    2019-03-01 $175,614 (0.4%) $281,539 (20.4%) 0.00 376
    2019-04-01 $171,914 (-4.4%) $277,213 (11.3%) 0.00 404
    2019-05-01 $187,425 (-1.1%) $290,157 (11.4%) 0.00 416
    2019-06-01 $189,900 (-4.6%) $275,752 (2.8%) 0.00 431
    2019-07-01 $195,279 (1.5%) $277,182 (4.8%) 0.00 443
    2019-08-01 $208,577 (17.6%) $279,667 (9.4%) 0.00 432
    2019-09-01 $210,643 (20.4%) $278,817 (5.6%) 0.00 412
    2019-10-01 $218,575 (36.9%) $287,671 (19.0%) 0.00 381
    2019-11-01 $219,900 (33.4%) $290,946 (19.1%) 0.00 344
    2019-12-01 $219,900 (37.4%) $287,387 (16.8%) 0.00 348
    2020-01-01 $219,675 (38.5%) $283,184 (14.1%) 0.00 308
    2020-02-01 $232,500 (36.9%) $289,491 (5.4%) 0.00 317
    2020-03-01 $230,750 (31.4%) $284,290 (1.0%) 0.00 307
    2020-04-01 $222,200 (29.3%) $288,409 (4.0%) 0.00 307
    2020-05-01 $239,900 (28.0%) $307,120 (5.9%) 0.00 286
    2020-06-01 $248,200 (30.7%) $312,405 (13.3%) 0.00 254
    2020-07-01 $245,925 (25.9%) $318,620 (15.0%) 0.00 228
    2020-08-01 $246,950 (18.4%) $334,284 (19.5%) 0.00 219
    2020-09-01 $234,950 (11.5%) $307,416 (10.3%) 0.00 221
    2020-10-01 $219,950 (0.6%) $288,505 (0.3%) 0.00 218
    2020-11-01 $220,000 (0.1%) $287,644 (-1.1%) 0.00 207
    2020-12-01 $231,200 (5.1%) $299,369 (4.2%) 0.00 194
    2021-01-01 $231,200 (5.3%) $319,735 (12.9%) 0.00 162
    2021-02-01 $237,000 (1.9%) $341,119 (17.8%) 0.00 148
    2021-03-01 $245,875 (6.6%) $342,749 (20.6%) 0.00 133
    2021-04-01 $240,425 (8.2%) $339,622 (17.8%) 0.00 119
    2021-05-01 $249,450 (4.0%) $370,879 (20.8%) 0.00 121
    2021-06-01 $244,631 (-1.4%) $359,343 (15.0%) 0.00 158
    2021-07-01 $234,900 (-4.5%) $344,706 (8.2%) 0.00 172
    2021-08-01 $217,400 (-12.0%) $319,712 (-4.4%) 0.00 184
    2021-09-01 $212,175 (-9.7%) $321,896 (4.7%) 0.00 165
    2021-10-01 $210,000 (-4.5%) $319,739 (10.8%) 0.00 163
    2021-11-01 $200,000 (-9.1%) $333,201 (15.8%) 0.00 155
    2021-12-01 $226,200 (-2.2%) $339,259 (13.3%) 0.00 141
    2022-01-01 $234,900 (1.6%) $369,939 (15.7%) 0.00 109
    2022-02-01 $244,675 (3.2%) $381,733 (11.9%) 0.00 114
    2022-03-01 $241,750 (-1.7%) $361,541 (5.5%) 0.00 138
    2022-04-01 $249,000 (3.6%) $353,260 (4.0%) 0.00 141
    2022-05-01 $247,528 (-0.8%) $337,838 (-8.9%) 0.00 168
    2022-06-01 $250,000 (2.2%) $373,231 (3.9%) 0.00 170
    2022-07-01 $257,900 (9.8%) $366,431 (6.3%) 0.00 195
    2022-08-01 $251,200 (15.6%) $364,409 (14.0%) 0.00 191
    2022-09-01 $259,450 (22.3%) $370,306 (15.0%) 0.00 189
    2022-10-01 $243,750 (16.1%) $339,233 (6.1%) 0.00 210
    2022-11-01 $239,500 (19.8%) $344,146 (3.3%) 0.00 219
    2022-12-01 $242,475 (7.2%) $342,854 (1.1%) 0.00 200
    2023-01-01 $245,437 (4.5%) $329,938 (-10.8%) 0.00 195
    2023-02-01 $247,325 (1.1%) $320,075 (-16.2%) 0.00 200
    2023-03-01 $261,215 (8.1%) $338,130 (-6.5%) 0.00 182
    2023-04-01 $265,450 (6.6%) $334,318 (-5.4%) 0.00 166
    2023-05-01 $285,000 (15.1%) $345,872 (2.4%) 0.00 156
    2023-06-01 $280,000 (12.0%) $340,470 (-8.8%) 0.00 152
    2023-07-01 $289,000 (12.1%) $360,199 (-1.7%) 0.00 159
    2023-08-01 $286,750 (14.2%) $357,529 (-1.9%) 0.00 164
    2023-09-01 $285,000 (9.9%) $355,756 (-3.9%) 0.00 174
    2023-10-01 $288,200 (18.2%) $350,573 (3.3%) 0.00 215
    2023-11-01 $284,900 (19.0%) $348,137 (1.2%) 0.00 227
    2023-12-01 $289,900 (19.6%) $345,898 (0.9%) 0.00 225
    2024-01-01 $275,000 (12.0%) $345,980 (4.9%) 0.00 209
    2024-02-01 $268,750 (8.7%) $331,938 (3.7%) 0.00 221
    2024-03-01 $274,950 (5.3%) $328,975 (-2.7%) 0.00 226
    2024-04-01 $292,575 (10.2%) $344,386 (3.0%) 0.00 236
    2024-05-01 $292,450 (2.6%) $354,985 (2.6%) 0.00 252
    2024-06-01 $289,900 (3.5%) $348,838 (2.5%) 0.00 278
    2024-07-01 $294,605 (1.9%) $364,863 (1.3%) 0.00 283
    2024-08-01 $282,950 (-1.3%) $361,917 (1.2%) 0.00 310
    2024-09-01 $279,550 (-1.9%) $359,471 (1.0%) 0.00 340
    2024-10-01 $279,925 (-2.9%) $355,894 (1.5%) 0.00 343
    2024-11-01 $279,900 (-1.8%) $354,110 (1.7%) 0.00 336
    2024-12-01 $274,450 (-5.3%) $346,162 (0.1%) 0.00 323
    2025-01-01 $275,000 (0.0%) $349,729 (1.1%) 0.00 300
    2025-02-01 $284,925 (6.0%) $375,805 (13.2%) 0.00 318
    2025-03-01 $289,950 (5.5%) $383,579 (16.6%) 0.00 346
    Rome's median listing price for 2025-03-01 was $289,950, a difference of $15,000 (5.5%) versus the prior year and $5,025 versus the prior month.

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

    Rome's average listing price for 2025-03-01 was $383,579, a difference of $54,604 (16.6%) versus the prior year and $7,774 versus the prior month.

    For the 2025-03-01 period, Rome had 346 MLS listings, a difference of 28 listings (9%) versus the prior month and 120 listings (53%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Rome (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,999 sqft
    2018-02-01 0 days 1,797 sqft
    2018-03-01 0 days 1,820 sqft
    2018-04-01 0 days 1,894 sqft
    2018-05-01 0 days 1,916 sqft
    2018-06-01 0 days 1,944 sqft
    2018-07-01 0 days 1,860 sqft
    2018-08-01 0 days 1,820 sqft
    2018-09-01 0 days 1,817 sqft
    2018-10-01 0 days 1,893 sqft
    2018-11-01 0 days 1,892 sqft
    2018-12-01 0 days 1,881 sqft
    2019-01-01 0 days 1,881 sqft
    2019-02-01 0 days 1,846 sqft
    2019-03-01 0 days 1,896 sqft
    2019-04-01 0 days 1,916 sqft
    2019-05-01 0 days 2,025 sqft
    2019-06-01 0 days 2,163 sqft
    2019-07-01 0 days 2,127 sqft
    2019-08-01 0 days 2,065 sqft
    2019-09-01 0 days 2,029 sqft
    2019-10-01 0 days 2,010 sqft
    2019-11-01 0 days 2,029 sqft
    2019-12-01 0 days 1,965 sqft
    2020-01-01 0 days 2,014 sqft
    2020-02-01 0 days 2,026 sqft
    2020-03-01 0 days 1,990 sqft
    2020-04-01 0 days 1,978 sqft
    2020-05-01 0 days 2,175 sqft
    2020-06-01 0 days 2,238 sqft
    2020-07-01 0 days 2,122 sqft
    2020-08-01 0 days 2,083 sqft
    2020-09-01 0 days 1,940 sqft
    2020-10-01 0 days 1,847 sqft
    2020-11-01 0 days 1,869 sqft
    2020-12-01 0 days 1,864 sqft
    2021-01-01 0 days 1,848 sqft
    2021-02-01 0 days 1,861 sqft
    2021-03-01 0 days 1,898 sqft
    2021-04-01 0 days 1,879 sqft
    2021-05-01 0 days 2,025 sqft
    2021-06-01 0 days 1,878 sqft
    2021-07-01 0 days 1,925 sqft
    2021-08-01 0 days 1,775 sqft
    2021-09-01 0 days 1,699 sqft
    2021-10-01 0 days 1,671 sqft
    2021-11-01 0 days 1,570 sqft
    2021-12-01 0 days 1,638 sqft
    2022-01-01 0 days 1,646 sqft
    2022-02-01 0 days 1,757 sqft
    2022-03-01 0 days 1,632 sqft
    2022-04-01 0 days 1,807 sqft
    2022-05-01 0 days 1,690 sqft
    2022-06-01 0 days 1,870 sqft
    2022-07-01 0 days 1,748 sqft
    2022-08-01 0 days 1,729 sqft
    2022-09-01 0 days 1,738 sqft
    2022-10-01 0 days 1,711 sqft
    2022-11-01 0 days 1,688 sqft
    2022-12-01 0 days 1,658 sqft
    2023-01-01 0 days 1,621 sqft
    2023-02-01 0 days 1,650 sqft
    2023-03-01 0 days 1,717 sqft
    2023-04-01 0 days 1,692 sqft
    2023-05-01 0 days 1,852 sqft
    2023-06-01 0 days 1,852 sqft
    2023-07-01 0 days 1,852 sqft
    2023-08-01 0 days 1,914 sqft
    2023-09-01 0 days 1,850 sqft
    2023-10-01 0 days 1,826 sqft
    2023-11-01 0 days 1,726 sqft
    2023-12-01 0 days 1,778 sqft
    2024-01-01 0 days 1,750 sqft
    2024-02-01 0 days 1,665 sqft
    2024-03-01 0 days 1,650 sqft
    2024-04-01 0 days 1,775 sqft
    2024-05-01 0 days 1,717 sqft
    2024-06-01 0 days 1,740 sqft
    2024-07-01 0 days 1,720 sqft
    2024-08-01 0 days 1,652 sqft
    2024-09-01 0 days 1,662 sqft
    2024-10-01 0 days 1,691 sqft
    2024-11-01 0 days 1,728 sqft
    2024-12-01 0 days 1,761 sqft
    2025-01-01 0 days 1,767 sqft
    2025-02-01 0 days 1,799 sqft
    2025-03-01 0 days 1,808 sqft
    Rome's median listing age (time on market) for 2025-03-01 was 0 days.

    Rome's median square footage for active listings during the 2025-03-01 period was 1,808 sqft. One year prior, the average listing was 1,650 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).