Talladega FHA Loan Rates, Closing Costs & Stats

Talladega-Sylacauga, AL

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 0.22% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

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

The average rate for the prior week (2025-06-27) was 6.51% and one month ago for the week of 2025-05-30, the average rate was 6.78%.

The average rate one year ago was 6.91%.

For refis of the same type during the week of 2025-07-04, the average rate was -0.2%.

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).