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 52 lenders originated 232 FHA loans during 2024. The total origination value was $81,550,000, with an average FHA loan value of $351,509.

    St. Marys FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in St. Marys averaged -0.3% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    St. Marys's average FHA mortgage closing costs are $7,722.

    The average rate for the prior week (2025-06-13) was 6.28% and one month ago for the week of 2025-05-16, the average rate was 6.24%.

    The average rate one year ago was 6.5%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.38%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 57 6.26% $11,585
    DHI MORTGAGE COMPANY, LTD. 14 4.36% $6,407
    UNITED WHOLESALE MORTGAGE, LLC 11 6.18% $12,486
    EMM LOANS LLC 10 6.67% $10,118
    Presidential Bank, FSB 9 6.14% $11,923
    GUARANTEED RATE, INC. 7 6.82% $10,485
    NBKC BANK 7 6.39% $8,516
    FREEDOM MORTGAGE CORPORATION 7 6.02% $11,927
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.00% $9,985
    PENNYMAC LOAN SERVICES, LLC 5 6.10% $10,081
    INSPIRE HOME LOANS INC. 5 5.15% $9,218
    HOMESIDE FINANCIAL, LLC 5 6.28% $12,146
    Mr. Cooper ( Nationstar Mortgage ) 4 6.56% $15,573
    FIRST CONTINENTAL MORTGAGE, LTD. 4 6.34% $7,219
    LOANDEPOT.COM, LLC 3 6.16% $11,558
    Century Mortgage Company DBA Century Lending Company 3 6.50% $7,511
    NEWREZ LLC 3 6.25% $14,361
    Paramount Residential Mortgage Group, Inc. 2 6.75% $13,308
    TOWNE MORTGAGE COMPANY 2 5.88% $7,359
    BROKER SOLUTIONS, INC. 2 7.19% $12,742
    CROSSCOUNTRY MORTGAGE, LLC 2 5.69% $12,152
    Mortgage Research Center, LLC 2 6.50% $8,976
    SUN WEST MORTGAGE COMPANY, INC. 2 6.13% $18,380
    Residential Mortgage Solutions, Inc. 1 6.50% $11,631
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.25% $11,024
    The Federal Savings Bank 1 6.00% $15,243
    Truist 1 5.75% $8,367
    UNION HOME MORTGAGE CORP. 1 6.63% $17,059
    United Community Bank 1 6.63% $13,854
    Keystone Funding, Inc. 1 5.75% $11,931
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.63% $6,358
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $10,712
    Ameris Bank 1 6.75% $5,559
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 7.75% $12,414
    CANOPY MORTGAGE, LLC 1 7.13% $8,975
    CARDINAL FINANCIAL 1 7.25% $13,679
    Carrington Mortgage Services, LLC 1 6.13% $13,101
    ENDEAVOR CAPITAL, LLC. 1 6.63% $10,139
    Flagstar Bank, FSB 1 5.88% $12,965
    Franklin Loan Corporation 1 5.99% $16,837
    Hancock Whitney Bank 1 6.63% $8,231
    Home Mortgage Alliance Corp 1 7.25% $8,551
    HOMESTEAD FUNDING CORP. 1 6.25% $11,411
    INTERCOASTAL MORTGAGE COMPANY 1 6.13% $11,324
    ACOPIA, LLC 1 5.50% $13,724
    LOANLEADERS OF AMERICA, INC. 1 6.25% $14,486
    LOANPAL, LLC 1 6.63% $8,676
    MEMBER FIRST MORTGAGE, LLC 1 5.63% $5,574
    MILEND, INC. 1 5.99% $14,732
    MOVEMENT MORTGAGE, LLC 1 6.63% $13,056
    PLANET HOME LENDING, LLC 1 5.49% $8,971
    RELIANCE FIRST CAPITAL, LLC 1 6.50% $12,426

    The top St. Marys FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 57 FHA loans originated. Their average total fees are $11,585, which is $5,178 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee St. Marys FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($6,407), EMM LOANS LLC ($10,118), QUICKEN LOANS, LLC ($11,585), UNITED WHOLESALE MORTGAGE, LLC ($12,486) and .

    The lowest rate St. Marys FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.36%), UNITED WHOLESALE MORTGAGE, LLC (6.18%), QUICKEN LOANS, LLC (6.26%), EMM LOANS LLC (6.67%) and .

    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

    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).