Talladega FHA Loan Rates, Closing Costs & Stats

Talladega-Sylacauga, AL

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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.

    Talladega's 75 lenders originated 345 FHA loans during 2024. The total origination value was $69,045,000, with an average FHA loan value of $200,130.

    Talladega FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Talladega averaged 6.65% for the week of 2025-07-11, compared to the national average (all FHA variants) of 6.523% for the same period.

    Talladega's average FHA mortgage closing costs are $6,823.

    The average rate for the prior week (2025-07-04) was 6.38% and one month ago for the week of 2025-06-06, the average rate was 6.61%.

    The average rate one year ago was 6.95%.

    For refis of the same type during the week of 2025-07-11, the average rate was 6.33%.

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

    Talladega 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 Talladega level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    MORIA DEVELOPMENT, INC. 26 6.23% $9,437
    UNITED WHOLESALE MORTGAGE, LLC 20 6.27% $10,938
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 6.52% $8,721
    QUICKEN LOANS, LLC 15 6.22% $8,973
    SouthPoint Bank 14 6.02% $5,775
    MOVEMENT MORTGAGE, LLC 12 6.68% $7,239
    FREEDOM MORTGAGE CORPORATION 10 6.17% $12,039
    FBC MORTGAGE, LLC 10 6.04% $11,676
    INSPIRE HOME LOANS INC. 9 5.15% $7,135
    SUCCESS MORTGAGE PARTNERS, INC. 9 6.60% $9,407
    BROKER SOLUTIONS, INC. 8 6.69% $9,362
    STOCKTON MORTGAGE CORPORATION 7 6.14% $9,231
    Ameris Bank 7 6.27% $12,131
    Hamilton Mortgage Corporation 7 6.36% $8,209
    HUNT MORTGAGE CORPORATION 6 6.23% $9,217
    Renasant Bank 5 6.68% $8,739
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 5 6.83% $9,924
    PENNYMAC LOAN SERVICES, LLC 5 5.80% $8,236
    SOUTHWEST FUNDING, LP 5 6.75% $8,744
    ACOPIA, LLC 4 6.63% $8,440
    EVERETT FINANCIAL, INC. 4 6.44% $7,357
    FIRST COMMUNITY MORTGAGE, INC. 4 6.66% $9,956
    Flagstar Bank, FSB 4 6.61% $9,208
    LOANDEPOT.COM, LLC 4 5.47% $12,206
    TOWNE MORTGAGE COMPANY 4 7.06% $7,917
    NEWREZ LLC 3 6.92% $7,667
    ZILLOW HOME LOANS, LLC 3 6.88% $8,457
    GUILD MORTGAGE COMPANY 3 6.92% $10,103
    The Loan Store, Inc. 3 6.37% $7,611
    Bank of England 3 6.63% $7,614
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.50% $6,124
    CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $8,474
    Cornerstone First Mortgage, Inc 2 6.56% $6,300
    Liberty Mortgage Corporation 2 6.63% $5,345
    VILLAGE CAPITAL MORTGAGE 2 6.38% $3,350
    MORTGAGE INVESTORS GROUP, INC. 2 6.56% $7,460
    Regions Bank 2 7.25% $5,619
    South State Bank 2 5.81% $6,380
    FirstBank 2 6.88% $10,870
    AMERICAN FINANCIAL RESOURCES, INC. 2 7.25% $8,016
    First Federal Bank, A FSB 2 5.63% $8,942
    MILEND, INC. 1 6.25% $13,033
    Consumer First Mortgage, Inc. 1 7.25% $9,778
    EMBRACE HOME LOANS, INC. 1 7.13% $8,187
    Mortgage Research Center, LLC 1 7.13% $5,461
    CANOPY MORTGAGE, LLC 1 5.75% $14,421
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $7,016
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $16,622
    Nations Lending Corporation 1 6.75% $10,763
    NETWORK CAPITAL FUNDING CORPORATION 1 6.25% $9,967
    HOMESIDE FINANCIAL, LLC 1 5.50% $9,135
    NEXERA HOLDING LLC 1 7.13% $8,164
    Paramount Residential Mortgage Group, Inc. 1 5.99% $7,855
    Barrington Bank & Trust Company, N.A. 1 7.25% $6,971
    PLANET HOME LENDING, LLC 1 6.50% $8,639
    Prosperity Home Mortgage, LLC 1 6.25% $9,235
    Home Mortgage Alliance Corp 1 7.75% $6,402
    Equity Prime Mortgage LLC 1 7.75% $11,992
    RELIANCE FIRST CAPITAL, LLC 1 5.50% $5,410
    Assurance Financial Group, L.L.C. 1 5.75% $6,797
    ROYAL UNITED MORTGAGE LLC 1 6.00% $14,779
    Sierra Pacific Mortgage Company, Inc. 1 7.25% $9,406
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.88% $7,793
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.99% $4,764
    FIRST COLONY MORTGAGE CORPORATION 1 5.63% $8,243
    AmeriHome Mortgage Company, LLC 1 5.99% $6,200
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.99% $6,879
    ISERVE RESIDENTIAL LENDING, LLC 1 6.25% $12,998
    Ixonia Bank 1 7.63% $6,541
    LEADERONE FINANCIAL CORPORATION 1 7.25% $7,178
    Legends Bank 1 5.63% $5,557
    AMERICAN FINANCING CORPORATION 1 6.38% $9,843
    Synovus Bank 1 5.63% $12,627
    Loan Simple, Inc. 1 7.25% $9,801
    MICHIGAN MUTUAL, INC. 1 7.25% $12,549

    The top Talladega FHA lender as defined by loan originations is MORIA DEVELOPMENT, INC., with 26 FHA loans originated. Their average total fees are $9,437, which is $1,501 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Talladega FHA lenders (with over 10 loans originated) are SouthPoint Bank ($5,775), MOVEMENT MORTGAGE, LLC ($7,239), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,721), QUICKEN LOANS, LLC ($8,973) and MORIA DEVELOPMENT, INC. ($9,437).

    The lowest rate Talladega FHA lenders (with over 10 loans originated) are SouthPoint Bank (6.02%), FBC MORTGAGE, LLC (6.04%), FREEDOM MORTGAGE CORPORATION (6.17%), QUICKEN LOANS, LLC (6.22%) and MORIA DEVELOPMENT, INC. (6.23%).

    Talladega FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TALLADEGA-SYLACAUGA, AL TALLADEGA 2022 $420,680 $538,650 $651,050 $809,150
    TALLADEGA-SYLACAUGA, AL TALLADEGA 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).