Thomasville FHA Loan Rates, Closing Costs & Stats

Thomasville, 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.

    Thomasville's 33 lenders originated 114 FHA loans during 2023. The total origination value was $24,530,000, with an average FHA loan value of $215,175.

    Thomasville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Thomasville averaged 6.09% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Thomasville's average FHA mortgage closing costs are $7,605.

    The average rate for the prior week (2024-12-06) was 6.26% and one month ago for the week of 2024-11-08, the average rate was 6.12%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

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

    Thomasville 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 Thomasville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Flagstar Bank, FSB 34 6.78% $11,271
    QUICKEN LOANS, LLC 15 6.18% $11,384
    Renasant Bank 8 6.08% $8,713
    MORTGAGE INVESTORS GROUP, INC. 4 6.53% $7,985
    FREEDOM MORTGAGE CORPORATION 3 7.25% $10,197
    AMERISAVE MORTGAGE CORPORATION 3 6.29% $16,153
    UNITED WHOLESALE MORTGAGE, LLC 3 6.08% $12,606
    Carrington Mortgage Services, LLC 3 6.58% $11,939
    Ameris Bank 2 6.44% $10,885
    Capital City Home Loans, LLC 2 6.31% $11,533
    PENNYMAC LOAN SERVICES, LLC 2 5.69% $11,295
    LOANDEPOT.COM, LLC 2 7.44% $7,873
    MOVEMENT MORTGAGE, LLC 2 7.19% $8,947
    TOP FLITE FINANCIAL, INC. 2 7.00% $10,895
    Truist 2 6.00% $5,962
    VILLAGE CAPITAL MORTGAGE 2 5.75% $8,818
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.13% $14,184
    ZILLOW HOME LOANS, LLC 1 6.63% $10,518
    EVERETT FINANCIAL, INC. 1 6.88% $12,618
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $10,966
    GMFS LLC 1 6.25% $6,270
    HOMESTAR FINANCIAL CORPORATION 1 7.13% $6,879
    MICHIGAN MUTUAL, INC. 1 7.50% $9,574
    MID AMERICA MORTGAGE, INC. 1 7.88% $0
    MLD MORTGAGE INC. 1 5.63% $10,130
    Mortgage Research Center, LLC 1 7.50% $6,204
    Nations Lending Corporation 1 6.75% $7,178
    Paramount Residential Mortgage Group, Inc. 1 6.25% $12,052
    PREMIA MORTGAGE, LLC 1 6.75% $15,470
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $13,146
    ServisFirst Bank 1 6.50% $8,614
    Synovus Bank 1 6.63% $8,187
    TOWNE MORTGAGE COMPANY 1 7.13% $16,631

    The top Thomasville FHA lender as defined by loan originations is Flagstar Bank, FSB, with 34 FHA loans originated. Their average total fees are $11,271, which is $113 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Thomasville FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB ($11,271), QUICKEN LOANS, LLC ($11,384), .

    The lowest rate Thomasville FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.18%), Flagstar Bank, FSB (6.78%), .

    Thomasville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Thomasville (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 $199,900 (12.6%) $260,758 (5.2%) 0.00 248
    2018-02-01 $203,475 (18.4%) $270,785 (9.8%) 0.00 249
    2018-03-01 $209,000 (14.9%) $271,313 (6.8%) 0.00 260
    2018-04-01 $209,900 (10.5%) $277,263 (2.2%) 0.00 254
    2018-05-01 $214,900 (8.1%) $283,499 (0.7%) 0.00 262
    2018-06-01 $209,450 (4.8%) $278,314 (-1.5%) 0.00 277
    2018-07-01 $207,200 (3.7%) $278,340 (-3.0%) 0.00 289
    2018-08-01 $194,900 (-8.7%) $268,554 (-6.9%) 0.00 289
    2018-09-01 $199,900 (-8.7%) $284,543 (0.8%) 0.00 279
    2018-10-01 $199,900 (-10.1%) $277,872 (-3.1%) 0.00 280
    2018-11-01 $197,400 (-10.0%) $273,129 (-0.5%) 0.00 279
    2018-12-01 $204,900 (-4.7%) $284,681 (11.2%) 0.00 265
    2019-01-01 $217,400 (8.8%) $292,414 (12.1%) 0.00 248
    2019-02-01 $224,925 (10.5%) $304,124 (12.3%) 0.00 252
    2019-03-01 $224,186 (7.3%) $299,182 (10.3%) 0.00 245
    2019-04-01 $224,186 (6.8%) $302,979 (9.3%) 0.00 235
    2019-05-01 $219,675 (2.2%) $292,474 (3.2%) 0.00 229
    2019-06-01 $225,000 (7.4%) $291,617 (4.8%) 0.00 225
    2019-07-01 $234,950 (13.4%) $298,555 (7.3%) 0.00 225
    2019-08-01 $238,273 (22.3%) $311,188 (15.9%) 0.00 217
    2019-09-01 $238,682 (19.4%) $328,432 (15.4%) 0.00 211
    2019-10-01 $236,905 (18.5%) $339,359 (22.1%) 0.00 207
    2019-11-01 $239,450 (21.3%) $336,198 (23.1%) 0.00 210
    2019-12-01 $252,725 (23.3%) $341,227 (19.9%) 0.00 203
    2020-01-01 $251,250 (15.6%) $336,390 (15.0%) 0.00 197
    2020-02-01 $259,000 (15.2%) $350,123 (15.1%) 0.00 190
    2020-03-01 $249,925 (11.5%) $352,162 (17.7%) 0.00 184
    2020-04-01 $239,650 (6.9%) $330,422 (9.1%) 0.00 183
    2020-05-01 $238,000 (8.3%) $343,371 (17.4%) 0.00 170
    2020-06-01 $247,900 (10.2%) $350,444 (20.2%) 0.00 163
    2020-07-01 $245,225 (4.4%) $335,275 (12.3%) 0.00 164
    2020-08-01 $257,400 (8.0%) $356,228 (14.5%) 0.00 151
    2020-09-01 $269,000 (12.7%) $363,610 (10.7%) 0.00 149
    2020-10-01 $258,900 (9.3%) $335,592 (-1.1%) 0.00 164
    2020-11-01 $253,725 (6.0%) $337,910 (0.5%) 0.00 171
    2020-12-01 $270,225 (6.9%) $361,183 (5.9%) 0.00 145
    2021-01-01 $289,900 (15.4%) $374,528 (11.3%) 0.00 140
    2021-02-01 $344,000 (32.8%) $396,731 (13.3%) 0.00 111
    2021-03-01 $349,000 (39.6%) $384,970 (9.3%) 0.00 101
    2021-04-01 $317,425 (32.5%) $380,241 (15.1%) 0.00 103
    2021-05-01 $299,900 (26.0%) $390,296 (13.7%) 0.00 86
    2021-06-01 $299,225 (20.7%) $397,352 (13.4%) 0.00 82
    2021-07-01 $289,900 (18.2%) $413,875 (23.4%) 0.00 78
    2021-08-01 $274,425 (6.6%) $387,965 (8.9%) 0.00 84
    2021-09-01 $299,000 (11.2%) $420,256 (15.6%) 0.00 88
    2021-10-01 $287,000 (10.9%) $422,013 (25.8%) 0.00 90
    2021-11-01 $272,400 (7.4%) $422,418 (25.0%) 0.00 94
    2021-12-01 $277,450 (2.7%) $426,365 (18.1%) 0.00 100
    2022-01-01 $265,000 (-8.6%) $411,249 (9.8%) 0.00 93
    2022-02-01 $250,675 (-27.1%) $417,211 (5.2%) 0.00 70
    2022-03-01 $268,700 (-23.0%) $467,653 (21.5%) 0.00 67
    2022-04-01 $259,450 (-18.3%) $447,437 (17.7%) 0.00 71
    2022-05-01 $276,750 (-7.7%) $439,896 (12.7%) 0.00 78
    2022-06-01 $271,250 (-9.4%) $404,813 (1.9%) 0.00 90
    2022-07-01 $272,400 (-6.0%) $377,680 (-8.8%) 0.00 110
    2022-08-01 $272,450 (-0.7%) $379,673 (-2.1%) 0.00 118
    2022-09-01 $287,450 (-3.9%) $390,655 (-7.0%) 0.00 124
    2022-10-01 $305,000 (6.3%) $393,111 (-6.9%) 0.00 125
    2022-11-01 $280,500 (3.0%) $383,847 (-9.1%) 0.00 128
    2022-12-01 $284,500 (2.5%) $378,241 (-11.3%) 0.00 111
    2023-01-01 $298,250 (12.6%) $392,869 (-4.5%) 0.00 103
    2023-02-01 $314,475 (25.5%) $375,738 (-9.9%) 0.00 106
    2023-03-01 $298,450 (11.1%) $364,235 (-22.1%) 0.00 93
    2023-04-01 $299,900 (15.6%) $376,655 (-15.8%) 0.00 104
    2023-05-01 $304,900 (10.2%) $376,295 (-14.5%) 0.00 103
    2023-06-01 $317,450 (17.0%) $383,637 (-5.2%) 0.00 102
    2023-07-01 $349,900 (28.5%) $443,756 (17.5%) 0.00 100
    2023-08-01 $349,925 (28.4%) $448,596 (18.2%) 0.00 116
    2023-09-01 $354,900 (23.5%) $455,915 (16.7%) 0.00 109
    2023-10-01 $349,675 (14.7%) $445,624 (13.4%) 0.00 119
    2023-11-01 $325,000 (15.9%) $420,487 (9.6%) 0.00 139
    2023-12-01 $330,000 (16.0%) $422,352 (11.7%) 0.00 130
    2024-01-01 $332,200 (11.4%) $412,259 (4.9%) 0.00 129
    2024-02-01 $331,250 (5.3%) $396,236 (5.5%) 0.00 138
    2024-03-01 $330,000 (10.6%) $393,081 (7.9%) 0.00 143
    2024-04-01 $327,000 (9.0%) $407,731 (8.3%) 0.00 141
    2024-05-01 $330,750 (8.5%) $434,017 (15.3%) 0.00 142
    2024-06-01 $324,500 (2.2%) $414,023 (7.9%) 0.00 145
    2024-07-01 $350,000 (0.0%) $437,172 (-1.5%) 0.00 131
    2024-08-01 $350,000 (0.0%) $432,237 (-3.7%) 0.00 140
    2024-09-01 $347,250 (-2.2%) $418,206 (-8.3%) 0.00 159
    2024-10-01 $340,375 (-2.7%) $422,957 (-5.1%) 0.00 160
    2024-11-01 $328,250 (1.0%) $405,465 (-3.6%) 0.00 172
    Thomasville's median listing price for 2024-11-01 was $328,250, a difference of $3,250 (1.0%) versus the prior year and $-12,125 versus the prior month.

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

    Thomasville's average listing price for 2024-11-01 was $405,465, a difference of $-15,022 (-3.6%) versus the prior year and $-17,492 versus the prior month.

    For the 2024-11-01 period, Thomasville had 172 MLS listings, a difference of 12 listings (8%) versus the prior month and 33 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Thomasville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,919 sqft
    2018-02-01 0 days 1,955 sqft
    2018-03-01 0 days 1,951 sqft
    2018-04-01 0 days 1,936 sqft
    2018-05-01 0 days 1,946 sqft
    2018-06-01 0 days 1,935 sqft
    2018-07-01 0 days 1,896 sqft
    2018-08-01 0 days 1,852 sqft
    2018-09-01 0 days 1,852 sqft
    2018-10-01 0 days 1,863 sqft
    2018-11-01 0 days 1,878 sqft
    2018-12-01 0 days 1,903 sqft
    2019-01-01 0 days 1,955 sqft
    2019-02-01 0 days 1,936 sqft
    2019-03-01 0 days 1,959 sqft
    2019-04-01 0 days 2,005 sqft
    2019-05-01 0 days 1,900 sqft
    2019-06-01 0 days 1,980 sqft
    2019-07-01 0 days 2,034 sqft
    2019-08-01 0 days 2,090 sqft
    2019-09-01 0 days 2,149 sqft
    2019-10-01 0 days 2,188 sqft
    2019-11-01 0 days 2,107 sqft
    2019-12-01 0 days 2,184 sqft
    2020-01-01 0 days 2,241 sqft
    2020-02-01 0 days 2,205 sqft
    2020-03-01 0 days 2,066 sqft
    2020-04-01 0 days 2,008 sqft
    2020-05-01 0 days 2,074 sqft
    2020-06-01 0 days 2,074 sqft
    2020-07-01 0 days 2,043 sqft
    2020-08-01 0 days 2,220 sqft
    2020-09-01 0 days 2,229 sqft
    2020-10-01 0 days 2,136 sqft
    2020-11-01 0 days 2,108 sqft
    2020-12-01 0 days 2,152 sqft
    2021-01-01 0 days 2,231 sqft
    2021-02-01 0 days 2,296 sqft
    2021-03-01 0 days 2,219 sqft
    2021-04-01 0 days 2,187 sqft
    2021-05-01 0 days 2,244 sqft
    2021-06-01 0 days 2,242 sqft
    2021-07-01 0 days 2,228 sqft
    2021-08-01 0 days 1,983 sqft
    2021-09-01 0 days 2,222 sqft
    2021-10-01 0 days 2,203 sqft
    2021-11-01 0 days 2,039 sqft
    2021-12-01 0 days 2,020 sqft
    2022-01-01 0 days 1,925 sqft
    2022-02-01 0 days 1,977 sqft
    2022-03-01 0 days 2,148 sqft
    2022-04-01 0 days 1,904 sqft
    2022-05-01 0 days 2,044 sqft
    2022-06-01 0 days 1,933 sqft
    2022-07-01 0 days 1,900 sqft
    2022-08-01 0 days 1,825 sqft
    2022-09-01 0 days 1,960 sqft
    2022-10-01 0 days 2,059 sqft
    2022-11-01 0 days 2,024 sqft
    2022-12-01 0 days 1,912 sqft
    2023-01-01 0 days 1,991 sqft
    2023-02-01 0 days 1,823 sqft
    2023-03-01 0 days 1,867 sqft
    2023-04-01 0 days 1,830 sqft
    2023-05-01 0 days 1,728 sqft
    2023-06-01 0 days 1,801 sqft
    2023-07-01 0 days 1,972 sqft
    2023-08-01 0 days 2,088 sqft
    2023-09-01 0 days 2,074 sqft
    2023-10-01 0 days 1,994 sqft
    2023-11-01 0 days 1,914 sqft
    2023-12-01 0 days 1,914 sqft
    2024-01-01 0 days 1,951 sqft
    2024-02-01 0 days 1,941 sqft
    2024-03-01 0 days 1,928 sqft
    2024-04-01 0 days 1,913 sqft
    2024-05-01 0 days 1,974 sqft
    2024-06-01 0 days 1,900 sqft
    2024-07-01 0 days 2,094 sqft
    2024-08-01 0 days 1,934 sqft
    2024-09-01 0 days 1,838 sqft
    2024-10-01 0 days 1,862 sqft
    2024-11-01 0 days 1,815 sqft
    Thomasville's median listing age (time on market) for 2024-11-01 was 0 days.

    Thomasville's median square footage for active listings during the 2024-11-01 period was 1,815 sqft. One year prior, the average listing was 1,914 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).