St. Marys FHA Loan Rates, Closing Costs & Stats

St. Marys, 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.

    St. Marys's 50 lenders originated 166 FHA loans during 2023. The total origination value was $69,230,000, with an average FHA loan value of $417,048.

    St. Marys FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in St. Marys averaged 5.78% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    St. Marys's average FHA mortgage closing costs are $7,178.

    The average rate for the prior week (2024-12-06) was 6.15% and one month ago for the week of 2024-11-08, the average rate was 6.32%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.18%.

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

    St. Marys 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 St. Marys level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 37 6.20% $10,261
    GUARANTEED RATE, INC. 12 6.57% $11,565
    THRIVE MORTGAGE, LLC 11 6.11% $13,290
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.39% $10,402
    UNITED WHOLESALE MORTGAGE, LLC 6 6.18% $10,963
    DHI MORTGAGE COMPANY, LTD. 5 5.85% $8,683
    PENNYMAC LOAN SERVICES, LLC 4 6.19% $9,892
    CMG MORTGAGE, INC. 4 6.63% $8,837
    Century Mortgage Company DBA Century Lending Company 4 6.50% $12,233
    FREEDOM MORTGAGE CORPORATION 4 7.13% $13,121
    NBKC BANK 3 7.08% $8,735
    EMM LOANS LLC 3 5.79% $11,762
    LOANDEPOT.COM, LLC 3 6.58% $8,271
    ZILLOW HOME LOANS, LLC 2 5.88% $13,724
    NEWREZ LLC 2 6.00% $11,494
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.19% $14,312
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.50% $10,451
    CROSSCOUNTRY MORTGAGE, LLC 2 6.19% $6,969
    Carrington Mortgage Services, LLC 2 6.38% $14,555
    CARDINAL FINANCIAL 2 6.69% $12,784
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $11,722
    Platinum Home Mortgage Corporation 1 6.75% $15,864
    PLAZA HOME MORTGAGE, INC. 1 7.25% $6,505
    Sunflower Bank 1 6.63% $16,410
    SUN WEST MORTGAGE COMPANY, INC. 1 5.63% $18,221
    TOP FLITE FINANCIAL, INC. 1 6.75% $8,211
    UNIVERSAL MORTGAGE & FINANCE, INC. 1 6.50% $20,746
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.25% $11,193
    VILLAGE CAPITAL MORTGAGE 1 6.88% $10,454
    MOVEMENT MORTGAGE, LLC 1 7.00% $13,036
    AMERISAVE MORTGAGE CORPORATION 1 5.63% $11,591
    Bank of England 1 6.63% $10,776
    BROKER SOLUTIONS, INC. 1 5.35% $20,273
    CALIBER HOME LOANS, INC. 1 7.25% $8,880
    Capital City Home Loans, LLC 1 7.75% $8,043
    CHURCHILL MORTGAGE CORPORATION 1 6.38% $7,852
    Equity Prime Mortgage LLC 1 6.50% $14,468
    FIRST COMMUNITY MORTGAGE, INC. 1 6.75% $8,572
    First Option Mortgage, LLC 1 7.63% $12,151
    Flagstar Bank, FSB 1 7.99% $6,142
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $10,920
    HOMESIDE FINANCIAL, LLC 1 7.25% $8,678
    INSPIRE HOME LOANS INC. 1 6.13% $10,283
    LIBERTY HOME MORTGAGE CORPORATION 1 7.25% $17,382
    MEMBER FIRST MORTGAGE, LLC 1 7.13% $6,249
    MILEND, INC. 1 7.13% $9,304
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.75% $8,359
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $7,432
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $10,582
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $10,953

    The top St. Marys FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 37 FHA loans originated. Their average total fees are $10,261, which is $1,305 lower than the next largest lender, GUARANTEED RATE, INC..

    The lowest fee St. Marys FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($10,261), GUARANTEED RATE, INC. ($11,565), THRIVE MORTGAGE, LLC ($13,290), .

    The lowest rate St. Marys FHA lenders (with over 10 loans originated) are THRIVE MORTGAGE, LLC (6.11%), QUICKEN LOANS, LLC (6.20%), GUARANTEED RATE, INC. (6.57%), .

    St. Marys FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - St. Marys (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 $219,948 (-2.2%) $258,449 (2.6%) 0.00 302
    2018-02-01 $225,000 (-0.4%) $272,766 (6.8%) 0.00 301
    2018-03-01 $229,000 (4.1%) $265,182 (4.1%) 0.00 310
    2018-04-01 $234,450 (7.1%) $277,752 (7.6%) 0.00 302
    2018-05-01 $239,000 (12.8%) $283,658 (11.4%) 0.00 297
    2018-06-01 $233,900 (13.6%) $281,865 (11.2%) 0.00 324
    2018-07-01 $229,995 (12.5%) $276,414 (11.0%) 0.00 341
    2018-08-01 $228,223 (12.4%) $279,778 (13.2%) 0.00 355
    2018-09-01 $225,000 (10.8%) $278,298 (13.4%) 0.00 360
    2018-10-01 $219,700 (5.4%) $271,280 (7.7%) 0.00 390
    2018-11-01 $217,000 (1.3%) $264,388 (3.5%) 0.00 403
    2018-12-01 $219,250 (-0.8%) $266,210 (2.2%) 0.00 382
    2019-01-01 $217,000 (-1.3%) $270,291 (4.6%) 0.00 340
    2019-02-01 $215,000 (-4.4%) $274,317 (0.6%) 0.00 338
    2019-03-01 $218,086 (-4.8%) $283,136 (6.8%) 0.00 323
    2019-04-01 $217,136 (-7.4%) $287,116 (3.4%) 0.00 307
    2019-05-01 $219,444 (-8.2%) $285,606 (0.7%) 0.00 298
    2019-06-01 $219,450 (-6.2%) $282,672 (0.3%) 0.00 299
    2019-07-01 $234,850 (2.1%) $286,517 (3.7%) 0.00 296
    2019-08-01 $238,873 (4.7%) $288,399 (3.1%) 0.00 283
    2019-09-01 $245,132 (9.0%) $292,904 (5.3%) 0.00 265
    2019-10-01 $251,250 (14.4%) $295,665 (9.0%) 0.00 253
    2019-11-01 $255,000 (17.5%) $293,965 (11.2%) 0.00 268
    2019-12-01 $249,900 (14.0%) $298,622 (12.2%) 0.00 256
    2020-01-01 $249,925 (15.2%) $302,512 (11.9%) 0.00 249
    2020-02-01 $240,000 (11.6%) $299,970 (9.4%) 0.00 241
    2020-03-01 $264,900 (21.5%) $321,032 (13.4%) 0.00 230
    2020-04-01 $277,400 (27.8%) $322,687 (12.4%) 0.00 230
    2020-05-01 $299,900 (36.7%) $337,981 (18.3%) 0.00 198
    2020-06-01 $304,725 (38.9%) $342,977 (21.3%) 0.00 202
    2020-07-01 $299,225 (27.4%) $338,687 (18.2%) 0.00 196
    2020-08-01 $296,000 (23.9%) $337,613 (17.1%) 0.00 175
    2020-09-01 $287,400 (17.2%) $334,702 (14.3%) 0.00 180
    2020-10-01 $289,000 (15.0%) $335,727 (13.6%) 0.00 185
    2020-11-01 $294,446 (15.5%) $339,651 (15.5%) 0.00 175
    2020-12-01 $288,998 (15.7%) $336,245 (12.6%) 0.00 177
    2021-01-01 $290,000 (16.0%) $345,105 (14.1%) 0.00 137
    2021-02-01 $290,425 (21.0%) $363,020 (21.0%) 0.00 120
    2021-03-01 $314,900 (18.9%) $386,511 (20.4%) 0.00 101
    2021-04-01 $318,250 (14.7%) $403,673 (25.1%) 0.00 67
    2021-05-01 $299,450 (-0.2%) $394,747 (16.8%) 0.00 76
    2021-06-01 $302,450 (-0.8%) $378,796 (10.4%) 0.00 88
    2021-07-01 $299,900 (0.2%) $367,062 (8.4%) 0.00 105
    2021-08-01 $298,200 (0.7%) $360,316 (6.7%) 0.00 115
    2021-09-01 $294,800 (2.6%) $375,190 (12.1%) 0.00 95
    2021-10-01 $309,900 (7.2%) $379,014 (12.9%) 0.00 112
    2021-11-01 $332,500 (12.9%) $366,393 (7.9%) 0.00 119
    2021-12-01 $322,450 (11.6%) $413,703 (23.0%) 0.00 119
    2022-01-01 $349,050 (20.4%) $438,966 (27.2%) 0.00 105
    2022-02-01 $386,250 (33.0%) $488,974 (34.7%) 0.00 83
    2022-03-01 $380,970 (21.0%) $487,457 (26.1%) 0.00 62
    2022-04-01 $378,195 (18.8%) $500,733 (24.0%) 0.00 65
    2022-05-01 $377,200 (26.0%) $473,122 (19.9%) 0.00 79
    2022-06-01 $377,473 (24.8%) $476,163 (25.7%) 0.00 92
    2022-07-01 $370,000 (23.4%) $443,883 (20.9%) 0.00 133
    2022-08-01 $387,150 (29.8%) $443,300 (23.0%) 0.00 143
    2022-09-01 $369,900 (25.5%) $419,402 (11.8%) 0.00 143
    2022-10-01 $371,400 (19.9%) $423,875 (11.8%) 0.00 159
    2022-11-01 $368,323 (10.8%) $431,167 (17.7%) 0.00 175
    2022-12-01 $359,900 (11.6%) $411,294 (-0.6%) 0.00 172
    2023-01-01 $369,900 (6.0%) $423,141 (-3.6%) 0.00 149
    2023-02-01 $369,900 (-4.2%) $425,228 (-13.0%) 0.00 125
    2023-03-01 $399,900 (5.0%) $453,802 (-6.9%) 0.00 124
    2023-04-01 $397,486 (5.1%) $491,219 (-1.9%) 0.00 124
    2023-05-01 $399,900 (6.0%) $507,175 (7.2%) 0.00 133
    2023-06-01 $390,098 (3.3%) $486,653 (2.2%) 0.00 163
    2023-07-01 $366,900 (-0.8%) $477,858 (7.7%) 0.00 170
    2023-08-01 $356,425 (-7.9%) $460,405 (3.9%) 0.00 178
    2023-09-01 $354,400 (-4.2%) $462,125 (10.2%) 0.00 194
    2023-10-01 $350,950 (-5.5%) $461,612 (8.9%) 0.00 215
    2023-11-01 $349,300 (-5.2%) $455,358 (5.6%) 0.00 225
    2023-12-01 $351,900 (-2.2%) $457,099 (11.1%) 0.00 218
    2024-01-01 $356,400 (-3.7%) $445,373 (5.3%) 0.00 228
    2024-02-01 $374,095 (1.1%) $455,591 (7.1%) 0.00 213
    2024-03-01 $376,900 (-5.8%) $462,695 (2.0%) 0.00 226
    2024-04-01 $384,450 (-3.3%) $443,561 (-9.7%) 0.00 287
    2024-05-01 $407,450 (1.9%) $459,478 (-9.4%) 0.00 277
    2024-06-01 $419,900 (7.6%) $470,585 (-3.3%) 0.00 297
    2024-07-01 $409,530 (11.6%) $463,370 (-3.0%) 0.00 314
    2024-08-01 $399,900 (12.2%) $458,270 (-0.5%) 0.00 323
    2024-09-01 $399,950 (12.9%) $455,446 (-1.5%) 0.00 321
    2024-10-01 $398,300 (13.5%) $450,032 (-2.5%) 0.00 336
    2024-11-01 $395,000 (13.1%) $447,073 (-1.8%) 0.00 332
    St. Marys's median listing price for 2024-11-01 was $395,000, a difference of $45,700 (13.1%) versus the prior year and $-3,300 versus the prior month.

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

    St. Marys's average listing price for 2024-11-01 was $447,073, a difference of $-8,285 (-1.8%) versus the prior year and $-2,959 versus the prior month.

    For the 2024-11-01 period, St. Marys had 332 MLS listings, a difference of -4 listings (-1%) versus the prior month and 107 listings (48%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - St. Marys (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,073 sqft
    2018-02-01 0 days 2,108 sqft
    2018-03-01 0 days 2,083 sqft
    2018-04-01 0 days 2,081 sqft
    2018-05-01 0 days 2,078 sqft
    2018-06-01 0 days 2,081 sqft
    2018-07-01 0 days 2,026 sqft
    2018-08-01 0 days 2,054 sqft
    2018-09-01 0 days 2,036 sqft
    2018-10-01 0 days 1,984 sqft
    2018-11-01 0 days 1,934 sqft
    2018-12-01 0 days 1,947 sqft
    2019-01-01 0 days 1,922 sqft
    2019-02-01 0 days 1,937 sqft
    2019-03-01 0 days 1,960 sqft
    2019-04-01 0 days 1,994 sqft
    2019-05-01 0 days 1,954 sqft
    2019-06-01 0 days 1,946 sqft
    2019-07-01 0 days 2,012 sqft
    2019-08-01 0 days 2,012 sqft
    2019-09-01 0 days 2,046 sqft
    2019-10-01 0 days 2,071 sqft
    2019-11-01 0 days 2,065 sqft
    2019-12-01 0 days 2,062 sqft
    2020-01-01 0 days 2,045 sqft
    2020-02-01 0 days 2,034 sqft
    2020-03-01 0 days 2,061 sqft
    2020-04-01 0 days 2,088 sqft
    2020-05-01 0 days 2,180 sqft
    2020-06-01 0 days 2,255 sqft
    2020-07-01 0 days 2,215 sqft
    2020-08-01 0 days 2,137 sqft
    2020-09-01 0 days 2,155 sqft
    2020-10-01 0 days 2,100 sqft
    2020-11-01 0 days 2,099 sqft
    2020-12-01 0 days 2,080 sqft
    2021-01-01 0 days 2,103 sqft
    2021-02-01 0 days 2,060 sqft
    2021-03-01 0 days 2,066 sqft
    2021-04-01 0 days 2,070 sqft
    2021-05-01 0 days 1,997 sqft
    2021-06-01 0 days 2,076 sqft
    2021-07-01 0 days 2,000 sqft
    2021-08-01 0 days 2,059 sqft
    2021-09-01 0 days 1,997 sqft
    2021-10-01 0 days 2,026 sqft
    2021-11-01 0 days 2,040 sqft
    2021-12-01 0 days 2,044 sqft
    2022-01-01 0 days 2,114 sqft
    2022-02-01 0 days 2,155 sqft
    2022-03-01 0 days 2,089 sqft
    2022-04-01 0 days 2,100 sqft
    2022-05-01 0 days 2,084 sqft
    2022-06-01 0 days 2,102 sqft
    2022-07-01 0 days 2,130 sqft
    2022-08-01 0 days 2,132 sqft
    2022-09-01 0 days 2,055 sqft
    2022-10-01 0 days 2,101 sqft
    2022-11-01 0 days 2,044 sqft
    2022-12-01 0 days 2,036 sqft
    2023-01-01 0 days 2,014 sqft
    2023-02-01 0 days 2,028 sqft
    2023-03-01 0 days 2,117 sqft
    2023-04-01 0 days 2,096 sqft
    2023-05-01 0 days 2,061 sqft
    2023-06-01 0 days 2,064 sqft
    2023-07-01 0 days 2,045 sqft
    2023-08-01 0 days 2,039 sqft
    2023-09-01 0 days 2,008 sqft
    2023-10-01 0 days 1,986 sqft
    2023-11-01 0 days 1,934 sqft
    2023-12-01 0 days 1,956 sqft
    2024-01-01 0 days 1,969 sqft
    2024-02-01 0 days 2,021 sqft
    2024-03-01 0 days 2,067 sqft
    2024-04-01 0 days 2,110 sqft
    2024-05-01 0 days 2,158 sqft
    2024-06-01 0 days 2,211 sqft
    2024-07-01 0 days 2,159 sqft
    2024-08-01 0 days 2,117 sqft
    2024-09-01 0 days 2,067 sqft
    2024-10-01 0 days 2,056 sqft
    2024-11-01 0 days 2,051 sqft
    St. Marys's median listing age (time on market) for 2024-11-01 was 0 days.

    St. Marys's median square footage for active listings during the 2024-11-01 period was 2,051 sqft. One year prior, the average listing was 1,934 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).