Summerville FHA Loan Rates, Closing Costs & Stats

Summerville, 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.

    Summerville's 39 lenders originated 99 FHA loans during 2024. The total origination value was $17,865,000, with an average FHA loan value of $180,455.

    Summerville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Summerville averaged 7.27% for the week of 2026-10-09, compared to the national average (all FHA variants) of 7.17% for the same period.

    Summerville's average FHA mortgage closing costs are $7,066.

    The average rate for the prior week (2026-10-02) was 7.49% and one month ago for the week of 2026-09-04, the average rate was 6.56%.

    The average rate one year ago was 6.21%.

    For refis of the same type during the week of 2026-10-09, the average rate was 7.37%.

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

    Summerville 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 Summerville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 10 6.54% $9,897
    United Community Bank 10 6.46% $7,394
    UNION HOME MORTGAGE CORP. 6 6.69% $8,985
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 6.75% $9,564
    UNITED WHOLESALE MORTGAGE, LLC 4 5.87% $9,227
    FirstBank 4 6.22% $11,557
    Equity Prime Mortgage LLC 4 6.56% $14,536
    SUMMIT FUNDING, INC. 3 7.54% $10,765
    LEADERONE FINANCIAL CORPORATION 3 6.58% $11,901
    EVERETT FINANCIAL, INC. 2 6.88% $13,005
    Mr. Cooper ( Nationstar Mortgage ) 2 6.69% $13,867
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.19% $8,466
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.25% $16,579
    CMG MORTGAGE, INC. 2 7.38% $6,569
    PENNYMAC LOAN SERVICES, LLC 2 6.44% $6,172
    SWBC MORTGAGE CORPORATION 2 6.94% $3,598
    FREEDOM MORTGAGE CORPORATION 2 6.69% $11,217
    SOUTHEAST MORTGAGE OF GEORGIA, INC. 1 6.63% $10,134
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 5.75% $2,482
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.00% $6,277
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $5,908
    TJC Mortgage, Inc. 1 6.50% $12,838
    MOVEMENT MORTGAGE, LLC 1 6.75% $9,551
    AmeriHome Mortgage Company, LLC 1 6.63% $3,810
    BROKER SOLUTIONS, INC. 1 6.75% $8,473
    CANOPY MORTGAGE, LLC 1 6.25% $9,451
    Carrington Mortgage Services, LLC 1 6.50% $13,961
    Century Mortgage Company DBA Century Lending Company 1 6.13% $12,814
    Cornerstone First Mortgage, Inc 1 6.25% $7,582
    FAIR WAY LENDING LLC 1 6.25% $9,570
    GUILD MORTGAGE COMPANY 1 6.75% $10,757
    LOANDEPOT.COM, LLC 1 6.75% $9,000
    MORTGAGE INVESTORS GROUP, INC. 1 7.13% $7,170
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $9,485
    NEW DAY FINANCIAL, LLC 1 7.50% $4,308
    PANORAMA MORTGAGE GROUP, LLC 1 6.25% $13,452
    Paramount Residential Mortgage Group, Inc. 1 5.63% $9,573
    Pinnacle Bank 1 5.25% $9,847
    RUOFF MORTGAGE COMPANY, INC. 1 5.38% $7,486

    The top Summerville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 10 FHA loans originated. Their average total fees are $9,897, which is $2,503 higher than the next largest lender, United Community Bank.

    The lowest fee Summerville FHA lenders (with over 10 loans originated) are United Community Bank ($7,394), QUICKEN LOANS, LLC ($9,897), .

    The lowest rate Summerville FHA lenders (with over 10 loans originated) are United Community Bank (6.46%), QUICKEN LOANS, LLC (6.54%), .

    Summerville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Summerville (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 $99,575 (7.2%) $184,358 (-4.1%) 0.00 58
    2018-02-01 $103,750 (11.7%) $184,046 (-5.7%) 0.00 63
    2018-03-01 $100,000 (4.2%) $169,122 (-9.1%) 0.00 66
    2018-04-01 $97,500 (-6.7%) $159,013 (-15.5%) 0.00 73
    2018-05-01 $98,925 (1.5%) $149,302 (-16.1%) 0.00 71
    2018-06-01 $129,900 (36.1%) $173,514 (-1.3%) 0.00 69
    2018-07-01 $127,425 (26.2%) $173,560 (2.4%) 0.00 76
    2018-08-01 $128,325 (33.8%) $181,549 (8.9%) 0.00 74
    2018-09-01 $128,700 (18.1%) $195,487 (2.1%) 0.00 63
    2018-10-01 $117,425 (-7.1%) $176,939 (-10.2%) 0.00 69
    2018-11-01 $128,175 (1.4%) $206,288 (3.1%) 0.00 70
    2018-12-01 $130,000 (6.6%) $240,489 (23.9%) 0.00 65
    2019-01-01 $146,250 (46.9%) $238,597 (29.4%) 0.00 60
    2019-02-01 $149,475 (44.1%) $246,212 (33.8%) 0.00 61
    2019-03-01 $150,814 (50.8%) $241,801 (43.0%) 0.00 61
    2019-04-01 $142,789 (46.5%) $229,136 (44.1%) 0.00 62
    2019-05-01 $147,250 (48.9%) $229,731 (53.9%) 0.00 68
    2019-06-01 $136,450 (5.0%) $230,071 (32.6%) 0.00 68
    2019-07-01 $134,450 (5.5%) $227,598 (31.1%) 0.00 74
    2019-08-01 $131,527 (2.5%) $230,449 (26.9%) 0.00 73
    2019-09-01 $130,106 (1.1%) $240,376 (23.0%) 0.00 74
    2019-10-01 $129,383 (10.2%) $251,246 (42.0%) 0.00 73
    2019-11-01 $125,000 (-2.5%) $231,604 (12.3%) 0.00 70
    2019-12-01 $122,200 (-6.0%) $200,100 (-16.8%) 0.00 68
    2020-01-01 $120,575 (-17.6%) $198,959 (-16.6%) 0.00 64
    2020-02-01 $120,000 (-19.7%) $216,120 (-12.2%) 0.00 65
    2020-03-01 $121,200 (-19.6%) $203,580 (-15.8%) 0.00 65
    2020-04-01 $123,500 (-13.5%) $188,425 (-17.8%) 0.00 67
    2020-05-01 $125,000 (-15.1%) $210,048 (-8.6%) 0.00 51
    2020-06-01 $161,150 (18.1%) $229,354 (-0.3%) 0.00 45
    2020-07-01 $167,225 (24.4%) $231,035 (1.5%) 0.00 38
    2020-08-01 $169,500 (28.9%) $193,303 (-16.1%) 0.00 35
    2020-09-01 $165,925 (27.5%) $186,691 (-22.3%) 0.00 25
    2020-10-01 $124,900 (-3.5%) $194,683 (-22.5%) 0.00 23
    2020-11-01 $124,925 (-0.1%) $164,090 (-29.2%) 0.00 22
    2020-12-01 $122,450 (0.2%) $163,045 (-18.5%) 0.00 19
    2021-01-01 $114,900 (-4.7%) $140,782 (-29.2%) 0.00 17
    2021-02-01 $124,425 (3.7%) $139,852 (-35.3%) 0.00 15
    2021-03-01 $132,500 (9.3%) $179,215 (-12.0%) 0.00 21
    2021-04-01 $166,625 (34.9%) $201,209 (6.8%) 0.00 19
    2021-05-01 $146,900 (17.5%) $176,995 (-15.7%) 0.00 18
    2021-06-01 $146,900 (-8.8%) $179,234 (-21.9%) 0.00 21
    2021-07-01 $179,900 (7.6%) $211,857 (-8.3%) 0.00 23
    2021-08-01 $201,725 (19.0%) $248,301 (28.5%) 0.00 25
    2021-09-01 $187,700 (13.1%) $266,144 (42.6%) 0.00 28
    2021-10-01 $247,400 (98.1%) $298,379 (53.3%) 0.00 32
    2021-11-01 $261,250 (109.1%) $368,258 (124.4%) 0.00 30
    2021-12-01 $268,124 (119.0%) $384,268 (135.7%) 0.00 36
    2022-01-01 $235,000 (104.5%) $358,866 (154.9%) 0.00 34
    2022-02-01 $208,675 (67.7%) $387,637 (177.2%) 0.00 33
    2022-03-01 $187,000 (41.1%) $357,846 (99.7%) 0.00 37
    2022-04-01 $235,000 (41.0%) $322,692 (60.4%) 0.00 37
    2022-05-01 $226,000 (53.9%) $339,756 (92.0%) 0.00 35
    2022-06-01 $249,225 (69.7%) $349,398 (94.9%) 0.00 37
    2022-07-01 $249,450 (38.7%) $362,153 (70.9%) 0.00 36
    2022-08-01 $279,725 (38.7%) $428,252 (72.5%) 0.00 34
    2022-09-01 $249,000 (32.7%) $356,700 (34.0%) 0.00 34
    2022-10-01 $229,950 (-7.1%) $352,285 (18.1%) 0.00 33
    2022-11-01 $224,675 (-14.0%) $326,681 (-11.3%) 0.00 38
    2022-12-01 $234,500 (-12.5%) $349,265 (-9.1%) 0.00 40
    2023-01-01 $226,175 (-3.8%) $330,905 (-7.8%) 0.00 42
    2023-02-01 $250,000 (19.8%) $362,790 (-6.4%) 0.00 38
    2023-03-01 $249,900 (33.6%) $385,035 (7.6%) 0.00 38
    2023-04-01 $232,400 (-1.1%) $325,622 (0.9%) 0.00 44
    2023-05-01 $204,200 (-9.7%) $311,477 (-8.3%) 0.00 51
    2023-06-01 $221,050 (-11.3%) $352,684 (0.9%) 0.00 59
    2023-07-01 $244,450 (-2.0%) $353,182 (-2.5%) 0.00 53
    2023-08-01 $268,425 (-4.0%) $366,668 (-14.4%) 0.00 48
    2023-09-01 $299,000 (20.1%) $436,281 (22.3%) 0.00 42
    2023-10-01 $269,000 (17.0%) $406,708 (15.5%) 0.00 43
    2023-11-01 $246,950 (9.9%) $391,914 (20.0%) 0.00 50
    2023-12-01 $224,750 (-4.2%) $353,804 (1.3%) 0.00 50
    2024-01-01 $253,550 (12.1%) $406,730 (22.9%) 0.00 48
    2024-02-01 $279,450 (11.8%) $420,798 (16.0%) 0.00 50
    2024-03-01 $260,000 (4.0%) $396,994 (3.1%) 0.00 52
    2024-04-01 $214,500 (-7.7%) $377,547 (16.0%) 0.00 46
    2024-05-01 $206,250 (1.0%) $380,515 (22.2%) 0.00 44
    2024-06-01 $214,500 (-3.0%) $394,296 (11.8%) 0.00 57
    2024-07-01 $193,249 (-21.0%) $370,330 (4.9%) 0.00 72
    2024-08-01 $195,000 (-27.4%) $345,521 (-5.8%) 0.00 72
    2024-09-01 $195,388 (-34.7%) $316,250 (-27.5%) 0.00 72
    2024-10-01 $211,175 (-21.5%) $310,135 (-23.8%) 0.00 71
    2024-11-01 $209,900 (-15.0%) $307,284 (-21.6%) 0.00 68
    2024-12-01 $212,925 (-5.3%) $300,453 (-15.1%) 0.00 69
    2025-01-01 $199,850 (-21.2%) $294,496 (-27.6%) 0.00 67
    2025-02-01 $233,675 (-16.4%) $319,756 (-24.0%) 0.00 70
    2025-03-01 $222,450 (-14.4%) $331,466 (-16.5%) 0.00 64
    2025-04-01 $217,000 (1.2%) $336,976 (-10.8%) 0.00 67
    2025-05-01 $219,000 (6.2%) $391,013 (2.8%) 0.00 65
    2025-06-01 $212,450 (-1.0%) $383,923 (-2.6%) 0.00 65
    2025-07-01 $220,000 (13.8%) $384,470 (3.8%) 0.00 66
    2025-08-01 $215,000 (10.3%) $403,483 (16.8%) 0.00 70
    2025-09-01 $239,000 (22.3%) $429,943 (36.0%) 0.00 78
    2025-10-01 $235,475 (11.5%) $439,087 (41.6%) 0.00 80
    2025-11-01 $239,900 (14.3%) $448,811 (46.1%) 0.00 82
    2025-12-01 $239,900 (12.7%) $492,748 (64.0%) 0.00 75
    2026-01-01 $240,000 (20.1%) $502,798 (70.7%) 0.00 73
    2026-02-01 $242,175 (3.6%) $472,591 (47.8%) 0.00 74
    2026-03-01 $234,950 (5.6%) $441,785 (33.3%) 0.00 81
    2026-04-01 $219,900 (1.3%) $417,426 (23.9%) 0.00 93
    2026-05-01 $209,900 (-4.2%) $418,149 (6.9%) 0.00 98
    2026-06-01 $209,900 (-1.2%) $432,489 (12.7%) 0.00 95
    2026-07-01 $219,750 (-0.1%) $402,623 (4.7%) 0.00 90
    2026-08-01 $223,000 (3.7%) $399,684 (-0.9%) 0.00 87
    2026-09-01 $220,000 (-8.0%) $352,894 (-17.9%) 0.00 91
    Summerville's median listing price for 2026-09-01 was $220,000, a difference of $-19,000 (-8.0%) versus the prior year and $-3,000 versus the prior month.

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

    Summerville's average listing price for 2026-09-01 was $352,894, a difference of $-77,049 (-17.9%) versus the prior year and $-46,790 versus the prior month.

    For the 2026-09-01 period, Summerville had 91 MLS listings, a difference of 4 listings (5%) versus the prior month and 13 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Summerville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,542 sqft
    2018-02-01 0 days 1,586 sqft
    2018-03-01 0 days 1,696 sqft
    2018-04-01 0 days 1,658 sqft
    2018-05-01 0 days 1,619 sqft
    2018-06-01 0 days 1,600 sqft
    2018-07-01 0 days 1,554 sqft
    2018-08-01 0 days 1,592 sqft
    2018-09-01 0 days 1,608 sqft
    2018-10-01 0 days 1,565 sqft
    2018-11-01 0 days 1,617 sqft
    2018-12-01 0 days 1,710 sqft
    2019-01-01 0 days 1,788 sqft
    2019-02-01 0 days 1,634 sqft
    2019-03-01 0 days 1,647 sqft
    2019-04-01 0 days 1,664 sqft
    2019-05-01 0 days 1,773 sqft
    2019-06-01 0 days 1,817 sqft
    2019-07-01 0 days 1,760 sqft
    2019-08-01 0 days 1,745 sqft
    2019-09-01 0 days 1,673 sqft
    2019-10-01 0 days 1,568 sqft
    2019-11-01 0 days 1,371 sqft
    2019-12-01 0 days 1,412 sqft
    2020-01-01 0 days 1,465 sqft
    2020-02-01 0 days 1,568 sqft
    2020-03-01 0 days 1,396 sqft
    2020-04-01 0 days 1,378 sqft
    2020-05-01 0 days 1,519 sqft
    2020-06-01 0 days 1,616 sqft
    2020-07-01 0 days 1,663 sqft
    2020-08-01 0 days 1,675 sqft
    2020-09-01 0 days 1,612 sqft
    2020-10-01 0 days 1,466 sqft
    2020-11-01 0 days 1,241 sqft
    2020-12-01 0 days 1,307 sqft
    2021-01-01 0 days 1,296 sqft
    2021-02-01 0 days 1,475 sqft
    2021-03-01 0 days 1,481 sqft
    2021-04-01 0 days 1,799 sqft
    2021-05-01 0 days 1,561 sqft
    2021-06-01 0 days 1,620 sqft
    2021-07-01 0 days 1,736 sqft
    2021-08-01 0 days 1,826 sqft
    2021-09-01 0 days 1,908 sqft
    2021-10-01 0 days 2,021 sqft
    2021-11-01 0 days 2,326 sqft
    2021-12-01 0 days 2,349 sqft
    2022-01-01 0 days 2,000 sqft
    2022-02-01 0 days 1,673 sqft
    2022-03-01 0 days 1,625 sqft
    2022-04-01 0 days 1,710 sqft
    2022-05-01 0 days 1,599 sqft
    2022-06-01 0 days 1,713 sqft
    2022-07-01 0 days 2,095 sqft
    2022-08-01 0 days 2,267 sqft
    2022-09-01 0 days 1,924 sqft
    2022-10-01 0 days 1,884 sqft
    2022-11-01 0 days 1,870 sqft
    2022-12-01 0 days 1,828 sqft
    2023-01-01 0 days 1,757 sqft
    2023-02-01 0 days 1,794 sqft
    2023-03-01 0 days 1,753 sqft
    2023-04-01 0 days 1,545 sqft
    2023-05-01 0 days 1,556 sqft
    2023-06-01 0 days 1,595 sqft
    2023-07-01 0 days 1,543 sqft
    2023-08-01 0 days 1,570 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,914 sqft
    2023-11-01 0 days 1,559 sqft
    2023-12-01 0 days 1,464 sqft
    2024-01-01 0 days 1,813 sqft
    2024-02-01 0 days 1,922 sqft
    2024-03-01 0 days 1,871 sqft
    2024-04-01 0 days 1,591 sqft
    2024-05-01 0 days 1,600 sqft
    2024-06-01 0 days 1,800 sqft
    2024-07-01 0 days 1,633 sqft
    2024-08-01 0 days 1,600 sqft
    2024-09-01 0 days 1,548 sqft
    2024-10-01 0 days 1,563 sqft
    2024-11-01 0 days 1,550 sqft
    2024-12-01 0 days 1,568 sqft
    2025-01-01 0 days 1,603 sqft
    2025-02-01 0 days 1,636 sqft
    2025-03-01 0 days 1,600 sqft
    2025-04-01 0 days 1,610 sqft
    2025-05-01 0 days 1,600 sqft
    2025-06-01 0 days 1,595 sqft
    2025-07-01 0 days 1,487 sqft
    2025-08-01 0 days 1,577 sqft
    2025-09-01 0 days 1,594 sqft
    2025-10-01 0 days 1,631 sqft
    2025-11-01 0 days 1,614 sqft
    2025-12-01 0 days 1,658 sqft
    2026-01-01 0 days 1,653 sqft
    2026-02-01 0 days 1,699 sqft
    2026-03-01 0 days 1,651 sqft
    2026-04-01 0 days 1,655 sqft
    2026-05-01 0 days 1,707 sqft
    2026-06-01 0 days 1,717 sqft
    2026-07-01 0 days 1,736 sqft
    2026-08-01 0 days 1,642 sqft
    2026-09-01 0 days 1,629 sqft
    Summerville's median listing age (time on market) for 2026-09-01 was 0 days.

    Summerville's median square footage for active listings during the 2026-09-01 period was 1,629 sqft. One year prior, the average listing was 1,594 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).