Savannah FHA Loan Rates, Closing Costs & Stats

SAVANNAH, 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.

    Savannah's 139 lenders originated 1,530 FHA loans during 2023. The total origination value was $418,610,000, with an average FHA loan value of $273,601.

    Savannah FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Savannah averaged 6.25% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Savannah's average FHA mortgage closing costs are $8,197.

    The average rate for the prior week (2025-02-07) was 6.17% and one month ago for the week of 2025-01-10, the average rate was 6.53%.

    The average rate one year ago was 6.36%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.68%.

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

    Savannah 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 Savannah level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 188 6.15% $11,131
    UNITED WHOLESALE MORTGAGE, LLC 157 6.19% $12,516
    BROKER SOLUTIONS, INC. 134 6.34% $11,313
    BANKSOUTH MORTGAGE COMPANY, LLC 57 6.24% $13,256
    GUARANTEED RATE, INC. 56 6.25% $11,229
    DHI MORTGAGE COMPANY, LTD. 49 5.33% $9,013
    PENNYMAC LOAN SERVICES, LLC 48 5.88% $12,395
    GUILD MORTGAGE COMPANY 43 6.74% $12,350
    MOVEMENT MORTGAGE, LLC 37 6.65% $12,081
    Flagstar Bank, FSB 36 6.45% $11,680
    VANDERBILT MORTGAGE AND FINANCE, INC. 30 6.70% $11,576
    SOUTHPOINT FINANCIAL SERVICES, INC. 28 7.00% $10,082
    TOWNE MORTGAGE COMPANY 24 6.52% $11,984
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 6.54% $10,782
    Plains Commerce Bank 22 6.04% $14,060
    FREEDOM MORTGAGE CORPORATION 19 6.89% $12,112
    Ameris Bank 19 6.25% $13,134
    EAGLE HOME MORTGAGE, LLC 17 5.81% $14,320
    Colony Bank 17 6.38% $12,454
    LOANDEPOT.COM, LLC 14 6.34% $12,312
    HOMESTAR FINANCIAL CORPORATION 14 6.42% $8,429
    Mortgage Research Center, LLC 13 6.68% $9,237
    AMERISAVE MORTGAGE CORPORATION 13 6.21% $13,169
    JET HOMELOANS, LLC 13 6.45% $10,770
    Carrington Mortgage Services, LLC 13 6.64% $12,424
    Mr. Cooper ( Nationstar Mortgage ) 12 6.21% $13,830
    AMERICAN FINANCIAL NETWORK, INC. 12 6.61% $13,374
    CARDINAL FINANCIAL 12 6.55% $13,702
    Northpointe Bank 11 6.24% $9,351
    NFM, INC. 11 7.19% $13,837
    ACADEMY MORTGAGE CORPORATION 10 6.39% $15,168
    NEWREZ LLC 9 6.12% $14,997
    AMERICAN PACIFIC MORTGAGE CORPORATION 9 6.49% $13,412
    MUTUAL OF OMAHA MORTGAGE, INC. 9 6.53% $15,114
    SUCCESS MORTGAGE PARTNERS, INC. 8 6.30% $13,586
    PLANET HOME LENDING, LLC 8 6.28% $12,251
    Magnolia Bank 8 6.20% $9,520
    SUMMIT FUNDING, INC. 8 7.11% $12,430
    HOMESPIRE MORTGAGE CORPORATION 7 6.54% $8,353
    CROSSCOUNTRY MORTGAGE, LLC 7 6.57% $10,698
    Renasant Bank 7 6.45% $12,675
    LAKEVIEW LOAN SERVICING, LLC 6 6.50% $12,357
    Prosperity Home Mortgage, LLC 6 5.85% $14,296
    Truist 6 5.73% $9,437
    Wells Fargo Bank 6 6.38% $8,185
    MILEND, INC. 6 6.40% $14,588
    VILLAGE CAPITAL MORTGAGE 5 6.08% $12,433
    OCMBC, INC. 5 6.85% $14,645
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 5 6.50% $13,988
    AMERICAN FINANCING CORPORATION 5 6.43% $14,194
    SUN WEST MORTGAGE COMPANY, INC. 5 6.28% $15,035
    Equity Prime Mortgage LLC 5 6.70% $12,996
    FIRST CONTINENTAL MORTGAGE, LTD. 4 7.00% $7,789
    RESIDENTIAL HOME FUNDING CORP. 4 6.72% $9,477
    CMG MORTGAGE, INC. 4 6.34% $13,576
    PULTE MORTGAGE LLC 4 6.06% $10,063
    MEMBER FIRST MORTGAGE, LLC 4 6.56% $9,516
    CANOPY MORTGAGE, LLC 4 6.47% $9,442
    LOANPAL, LLC 4 5.59% $14,076
    SWBC MORTGAGE CORPORATION 4 7.00% $9,587
    Queensborough National Bank & Trust Company 3 6.13% $8,894
    The Federal Savings Bank 3 6.88% $16,835
    HOMEBRIDGE FINANCIAL SERVICES, INC. 3 6.66% $10,380
    AmeriHome Mortgage Company, LLC 3 6.92% $8,938
    Lakeview Community Capital, LLC 3 5.92% $13,891
    RELIANCE FIRST CAPITAL, LLC 3 7.33% $11,279
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 3 6.75% $8,945
    Nations Lending Corporation 3 6.13% $16,097
    Neighborhood Loans, Inc. 3 6.29% $15,434
    NBH Bank 2 6.88% $7,173
    Regions Bank 2 5.50% $14,833
    EVERETT FINANCIAL, INC. 2 7.00% $21,659
    Loan Simple, Inc. 2 7.44% $15,499
    United Community Bank 2 5.88% $12,819
    CALIBER HOME LOANS, INC. 2 6.25% $9,256
    TOP FLITE FINANCIAL, INC. 2 7.00% $15,840
    MID AMERICA MORTGAGE, INC. 2 7.50% $7,247
    UNION HOME MORTGAGE CORP. 2 6.50% $16,397
    NEW DAY FINANCIAL, LLC 2 7.13% $2,828
    Franklin Loan Corporation 2 5.88% $14,568
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.69% $22,533
    PLAZA HOME MORTGAGE, INC. 2 7.00% $10,891
    Platinum Home Mortgage Corporation 2 6.75% $18,200
    M&T Bank 2 6.69% $7,165
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.75% $20,430
    RUOFF MORTGAGE COMPANY, INC. 2 7.44% $5,758
    BAY EQUITY LLC 2 6.25% $13,236
    Wolfe Financial, Inc 2 7.38% $13,248
    South State Bank 2 6.44% $8,926
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 6.06% $19,911
    LIBERTY HOME MORTGAGE CORPORATION 1 7.38% $4,468
    ACOPIA, LLC 1 6.99% $11,123
    Alcova Mortgage LLC 1 6.13% $15,858
    ALLIED MORTGAGE GROUP, INC. 1 5.88% $15,376
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.00% $10,442
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.63% $12,017
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $31,280
    Armed Forces Bank 1 6.38% $17,354
    Bank of America 1 6.88% $7,020
    Barrington Bank & Trust Company, N.A. 1 6.75% $12,820
    CALCON MUTUAL MORTGAGE LLC 1 7.25% $17,592
    Century Mortgage Company DBA Century Lending Company 1 6.75% $9,665
    CERTAINTY HOME LOANS, LLC 1 6.63% $6,952
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $10,490
    Citizens Bank 1 7.75% $12,148
    CONTOUR MORTGAGE CORPORATION 1 5.75% $9,391
    Credence Funding Corporation 1 6.50% $5,264
    DELMAR FINANCIAL COMPANY 1 7.00% $8,400
    DIRECT MORTGAGE, CORP. 1 5.75% $11,083
    DIRECT MORTGAGE LOANS, LLC 1 5.75% $16,724
    EQUITY RESOURCES, INC. 1 6.99% $8,420
    FIRST ALLIANCE HOME MORTGAGE, LLC 1 6.75% $13,598
    GARDNER FINANCIAL SERVICES, LTD. 1 6.13% $23,227
    GEO-CORP, INC. 1 6.88% $15,653
    GMFS LLC 1 7.25% $6,311
    GUARANTY HOME MORTGAGE CORPORATION 1 7.13% $4,868
    HOMESIDE FINANCIAL, LLC 1 6.75% $20,588
    INTERCOASTAL MORTGAGE COMPANY 1 6.88% $8,924
    JMAC LENDING, INC. 1 6.38% $10,369
    JPMorgan Chase Bank 1 7.75% $6,438
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 1 4.75% $11,223
    LEADERONE FINANCIAL CORPORATION 1 5.75% $12,379
    ABSOLUTE HOME MORTGAGE CORPORATION 1 6.75% $9,451
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 6.75% $18,100
    MORTGAGE ACCESS CORP. 1 6.63% $23,556
    NexBank 1 6.50% $12,777
    Paramount Residential Mortgage Group, Inc. 1 6.75% $14,272
    PENTAGON FEDERAL CREDIT UNION 1 4.88% $11,734
    PREMIA MORTGAGE, LLC 1 7.13% $6,649
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.13% $21,069
    RESIDENTIAL BANCORP 1 6.63% $12,793
    RESOURCE FINANCIAL SERVICES, INC. 1 6.75% $8,159
    SeaTrust Mortgage Company 1 6.50% $21,560
    STOCKTON MORTGAGE CORPORATION 1 5.75% $15,744
    Synovus Bank 1 5.50% $11,853
    THE MORTGAGE FIRM, INC. 1 6.63% $7,328
    U.S. Bank 1 7.25% $8,890
    VAN DYK MORTGAGE CORPORATION 1 7.13% $14,363
    Waterstone Mortgage Corporation 1 6.13% $20,807

    The top Savannah FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 188 FHA loans originated. Their average total fees are $11,131, which is $1,385 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Savannah FHA lenders (with over 10 loans originated) are HOMESTAR FINANCIAL CORPORATION ($8,429), DHI MORTGAGE COMPANY, LTD. ($9,013), Mortgage Research Center, LLC ($9,237), Northpointe Bank ($9,351) and SOUTHPOINT FINANCIAL SERVICES, INC. ($10,082).

    The lowest rate Savannah FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.33%), EAGLE HOME MORTGAGE, LLC (5.81%), PENNYMAC LOAN SERVICES, LLC (5.88%), Plains Commerce Bank (6.04%) and QUICKEN LOANS, LLC (6.15%).

    Savannah FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Savannah (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 $266,650 (6.9%) $384,285 (12.1%) 0.99 2,367
    2018-02-01 $274,623 (6.7%) $387,796 (9.6%) 1.00 2,425
    2018-03-01 $279,000 (6.3%) $388,826 (7.6%) 0.98 2,526
    2018-04-01 $279,561 (5.5%) $388,248 (5.9%) 0.95 2,542
    2018-05-01 $279,900 (5.6%) $388,548 (6.0%) 0.93 2,563
    2018-06-01 $279,000 (4.3%) $381,338 (2.9%) 0.93 2,591
    2018-07-01 $279,900 (5.2%) $384,867 (3.2%) 0.93 2,529
    2018-08-01 $275,071 (4.6%) $382,995 (4.0%) 0.92 2,467
    2018-09-01 $279,250 (5.4%) $389,745 (5.5%) 0.94 2,417
    2018-10-01 $279,500 (7.3%) $393,779 (6.1%) 0.95 2,445
    2018-11-01 $278,975 (5.3%) $392,039 (4.1%) 0.95 2,542
    2018-12-01 $278,000 (4.9%) $395,523 (4.3%) 0.96 2,500
    2019-01-01 $278,200 (4.3%) $402,217 (4.7%) 0.96 2,427
    2019-02-01 $283,555 (3.3%) $410,377 (5.8%) 0.96 2,412
    2019-03-01 $288,186 (3.3%) $417,281 (7.3%) 0.94 2,434
    2019-04-01 $291,423 (4.2%) $419,903 (8.2%) 0.93 2,487
    2019-05-01 $289,950 (3.6%) $419,564 (8.0%) 0.91 2,484
    2019-06-01 $290,000 (3.9%) $421,639 (10.6%) 0.91 2,443
    2019-07-01 $290,363 (3.7%) $418,300 (8.7%) 0.91 2,438
    2019-08-01 $291,845 (6.1%) $416,150 (8.7%) 0.92 2,437
    2019-09-01 $293,564 (5.1%) $414,237 (6.3%) 0.94 2,449
    2019-10-01 $294,709 (5.4%) $412,962 (4.9%) 0.95 2,446
    2019-11-01 $294,000 (5.4%) $414,040 (5.6%) 0.96 2,356
    2019-12-01 $295,600 (6.3%) $422,490 (6.8%) 0.99 2,328
    2020-01-01 $297,445 (6.9%) $424,131 (5.5%) 0.99 2,195
    2020-02-01 $299,900 (5.8%) $430,805 (5.0%) 0.98 2,211
    2020-03-01 $304,888 (5.8%) $435,587 (4.4%) 0.96 2,182
    2020-04-01 $300,367 (3.1%) $430,237 (2.5%) 0.94 2,215
    2020-05-01 $309,000 (6.6%) $437,326 (4.2%) 0.94 2,120
    2020-06-01 $318,564 (9.9%) $445,897 (5.8%) 0.94 1,966
    2020-07-01 $322,350 (11.0%) $451,189 (7.9%) 0.93 1,850
    2020-08-01 $322,990 (10.7%) $457,713 (10.0%) 0.93 1,704
    2020-09-01 $325,000 (10.7%) $472,791 (14.1%) 0.93 1,618
    2020-10-01 $319,000 (8.2%) $469,196 (13.6%) 0.91 1,564
    2020-11-01 $304,360 (3.5%) $455,906 (10.1%) 0.89 1,537
    2020-12-01 $300,000 (1.5%) $452,665 (7.1%) 0.89 1,414
    2021-01-01 $305,000 (2.5%) $464,487 (9.5%) 0.91 1,204
    2021-02-01 $306,788 (2.3%) $482,200 (11.9%) 0.89 1,009
    2021-03-01 $312,060 (2.4%) $500,798 (15.0%) 0.89 832
    2021-04-01 $319,725 (6.4%) $496,215 (15.3%) 0.87 759
    2021-05-01 $321,308 (4.0%) $516,510 (18.1%) 0.85 737
    2021-06-01 $322,484 (1.2%) $526,045 (18.0%) 0.85 726
    2021-07-01 $329,000 (2.1%) $523,504 (16.0%) 0.87 791
    2021-08-01 $329,500 (2.0%) $526,566 (15.0%) 0.88 776
    2021-09-01 $329,248 (1.3%) $537,634 (13.7%) 0.88 768
    2021-10-01 $339,857 (6.5%) $546,272 (16.4%) 0.91 733
    2021-11-01 $339,102 (11.4%) $543,500 (19.2%) 0.91 654
    2021-12-01 $349,450 (16.5%) $560,952 (23.9%) 0.95 602
    2022-01-01 $349,610 (14.6%) $577,187 (24.3%) 0.95 494
    2022-02-01 $372,080 (21.3%) $616,999 (28.0%) 0.97 422
    2022-03-01 $383,128 (22.8%) $629,561 (25.7%) 0.96 436
    2022-04-01 $395,000 (23.5%) $640,365 (29.1%) 0.94 453
    2022-05-01 $394,725 (22.9%) $609,964 (18.1%) 0.90 603
    2022-06-01 $399,900 (24.0%) $608,139 (15.6%) 0.89 694
    2022-07-01 $404,842 (23.1%) $611,510 (16.8%) 0.91 832
    2022-08-01 $399,000 (21.1%) $589,938 (12.0%) 0.92 939
    2022-09-01 $399,900 (21.5%) $601,566 (11.9%) 0.93 952
    2022-10-01 $400,000 (17.7%) $606,646 (11.1%) 0.94 1,004
    2022-11-01 $399,701 (17.9%) $594,487 (9.4%) 0.96 1,046
    2022-12-01 $399,900 (14.4%) $595,112 (6.1%) 0.99 1,006
    2023-01-01 $399,495 (14.3%) $594,455 (3.0%) 0.99 900
    2023-02-01 $399,048 (7.3%) $612,638 (-0.7%) 0.96 757
    2023-03-01 $409,257 (6.8%) $625,888 (-0.6%) 0.96 757
    2023-04-01 $428,048 (8.4%) $665,390 (3.9%) 1.00 693
    2023-05-01 $432,975 (9.7%) $679,370 (11.4%) 0.98 738
    2023-06-01 $432,450 (8.1%) $856,648 (40.9%) 0.97 792
    2023-07-01 $425,000 (5.0%) $850,067 (39.0%) 0.97 797
    2023-08-01 $425,998 (6.8%) $840,921 (42.5%) 0.98 824
    2023-09-01 $429,941 (7.5%) $834,273 (38.7%) 1.00 879
    2023-10-01 $426,604 (6.7%) $819,183 (35.0%) 1.00 998
    2023-11-01 $417,250 (4.4%) $810,060 (36.3%) 0.99 1,054
    2023-12-01 $423,115 (5.8%) $797,093 (33.9%) 1.03 1,025
    2024-01-01 $420,500 (5.3%) $828,422 (39.4%) 1.03 937
    2024-02-01 $430,495 (7.9%) $872,123 (42.4%) 1.04 919
    2024-03-01 $439,900 (7.5%) $887,535 (41.8%) 1.04 938
    2024-04-01 $429,900 (0.4%) $859,139 (29.1%) 1.00 1,082
    2024-05-01 $440,175 (1.7%) $850,577 (25.2%) 1.01 1,123
    2024-06-01 $438,081 (1.3%) $798,429 (-6.8%) 0.99 1,280
    2024-07-01 $430,500 (1.3%) $788,645 (-7.2%) 0.98 1,418
    2024-08-01 $425,000 (-0.2%) $776,341 (-7.7%) 0.99 1,469
    2024-09-01 $432,450 (0.6%) $758,604 (-9.1%) 1.02 1,522
    2024-10-01 $435,233 (2.0%) $766,402 (-6.4%) 1.02 1,562
    2024-11-01 $426,558 (2.2%) $759,259 (-6.3%) 1.02 1,648
    2024-12-01 $423,763 (0.2%) $721,271 (-9.5%) 1.05 1,641
    2025-01-01 $421,450 (0.2%) $645,727 (-22.1%) 0.00 1,553
    Savannah's median listing price for 2025-01-01 was $421,450, a difference of $950 (0.2%) versus the prior year and $-2,313 versus the prior month.

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

    Savannah's average listing price for 2025-01-01 was $645,727, a difference of $-182,695 (-22.1%) versus the prior year and $-75,544 versus the prior month.

    For the 2025-01-01 period, Savannah had 1,553 MLS listings, a difference of -88 listings (-5%) versus the prior month and 616 listings (66%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Savannah (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 92 days 2,173 sqft
    2018-02-01 83 days 2,200 sqft
    2018-03-01 61 days 2,248 sqft
    2018-04-01 64 days 2,264 sqft
    2018-05-01 66 days 2,239 sqft
    2018-06-01 68 days 2,224 sqft
    2018-07-01 72 days 2,228 sqft
    2018-08-01 77 days 2,192 sqft
    2018-09-01 79 days 2,209 sqft
    2018-10-01 77 days 2,200 sqft
    2018-11-01 75 days 2,201 sqft
    2018-12-01 81 days 2,202 sqft
    2019-01-01 89 days 2,200 sqft
    2019-02-01 92 days 2,211 sqft
    2019-03-01 78 days 2,238 sqft
    2019-04-01 65 days 2,262 sqft
    2019-05-01 64 days 2,279 sqft
    2019-06-01 67 days 2,294 sqft
    2019-07-01 71 days 2,293 sqft
    2019-08-01 73 days 2,289 sqft
    2019-09-01 76 days 2,289 sqft
    2019-10-01 78 days 2,286 sqft
    2019-11-01 84 days 2,273 sqft
    2019-12-01 88 days 2,245 sqft
    2020-01-01 95 days 2,247 sqft
    2020-02-01 87 days 2,253 sqft
    2020-03-01 69 days 2,296 sqft
    2020-04-01 74 days 2,290 sqft
    2020-05-01 78 days 2,300 sqft
    2020-06-01 80 days 2,295 sqft
    2020-07-01 71 days 2,345 sqft
    2020-08-01 64 days 2,312 sqft
    2020-09-01 65 days 2,270 sqft
    2020-10-01 65 days 2,203 sqft
    2020-11-01 64 days 2,147 sqft
    2020-12-01 69 days 2,104 sqft
    2021-01-01 75 days 2,097 sqft
    2021-02-01 57 days 2,056 sqft
    2021-03-01 45 days 2,036 sqft
    2021-04-01 41 days 2,055 sqft
    2021-05-01 33 days 2,103 sqft
    2021-06-01 38 days 2,041 sqft
    2021-07-01 36 days 2,094 sqft
    2021-08-01 40 days 2,007 sqft
    2021-09-01 44 days 2,017 sqft
    2021-10-01 50 days 2,047 sqft
    2021-11-01 53 days 2,046 sqft
    2021-12-01 56 days 2,064 sqft
    2022-01-01 60 days 2,046 sqft
    2022-02-01 30 days 2,081 sqft
    2022-03-01 26 days 2,112 sqft
    2022-04-01 26 days 2,160 sqft
    2022-05-01 19 days 2,129 sqft
    2022-06-01 25 days 2,217 sqft
    2022-07-01 30 days 2,161 sqft
    2022-08-01 37 days 2,161 sqft
    2022-09-01 44 days 2,151 sqft
    2022-10-01 48 days 2,126 sqft
    2022-11-01 50 days 2,156 sqft
    2022-12-01 58 days 2,126 sqft
    2023-01-01 68 days 2,132 sqft
    2023-02-01 63 days 2,114 sqft
    2023-03-01 45 days 2,184 sqft
    2023-04-01 41 days 2,244 sqft
    2023-05-01 32 days 2,236 sqft
    2023-06-01 33 days 2,200 sqft
    2023-07-01 39 days 2,161 sqft
    2023-08-01 39 days 2,087 sqft
    2023-09-01 42 days 2,081 sqft
    2023-10-01 44 days 2,092 sqft
    2023-11-01 49 days 2,042 sqft
    2023-12-01 55 days 2,008 sqft
    2024-01-01 60 days 1,977 sqft
    2024-02-01 49 days 2,021 sqft
    2024-03-01 43 days 2,060 sqft
    2024-04-01 40 days 2,027 sqft
    2024-05-01 37 days 2,093 sqft
    2024-06-01 39 days 2,080 sqft
    2024-07-01 48 days 2,023 sqft
    2024-08-01 52 days 2,007 sqft
    2024-09-01 58 days 2,041 sqft
    2024-10-01 60 days 2,039 sqft
    2024-11-01 64 days 1,983 sqft
    2024-12-01 66 days 1,970 sqft
    2025-01-01 0 days 1,970 sqft
    Savannah's median listing age (time on market) for 2025-01-01 was 0 days. This is -100% shorter than the same period one year ago.

    Savannah's median square footage for active listings during the 2025-01-01 period was 1,970 sqft. One year prior, the average listing was 1,977 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).