St. Marys FHA Loan Rates, Closing Costs & Stats

St. Marys, GA

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 5.71% for the week of 2024-10-11, compared to the national average (all FHA variants) of 6.1% for the same period.

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

The average rate for the prior week (2024-10-04) was 5.53% and one month ago for the week of 2024-09-06, the average rate was 5.75%.

The average rate one year ago was 7.18%.

For refis of the same type during the week of 2024-10-11, the average rate was 6%.

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
St. Marys's median listing price for 2024-09-01 was $399,950, a difference of $45,550 (12.9%) versus the prior year and $50 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 2024-09-01 was $455,446, a difference of $-6,679 (-1.5%) versus the prior year and $-2,824 versus the prior month.

For the 2024-09-01 period, St. Marys had 321 MLS listings, a difference of -2 listings (-1%) versus the prior month and 127 listings (65%) 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
St. Marys's median listing age (time on market) for 2024-09-01 was 0 days.

St. Marys's median square footage for active listings during the 2024-09-01 period was 2,067 sqft. One year prior, the average listing was 2,008 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).