Tifton FHA Loan Rates, Closing Costs & Stats

Tifton, 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.

    Tifton's 32 lenders originated 89 FHA loans during 2023. The total origination value was $17,105,000, with an average FHA loan value of $192,191.

    Tifton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tifton averaged 6.51% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Tifton's average FHA mortgage closing costs are $6,834.

    The average rate for the prior week (2024-04-12) was 6.8% and one month ago for the week of 2024-03-15, the average rate was 6.57%.

    The average rate one year ago was 6.3%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Tifton 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 Tifton level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 12 6.54% $8,097
    BANKSOUTH MORTGAGE COMPANY, LLC 8 6.80% $10,037
    CANOPY MORTGAGE, LLC 7 6.07% $14,084
    Flagstar Bank, FSB 5 6.38% $10,669
    UNION HOME MORTGAGE CORP. 4 6.63% $5,130
    HOMESTAR FINANCIAL CORPORATION 4 6.34% $5,156
    UNITED WHOLESALE MORTGAGE, LLC 3 6.21% $17,145
    ACOPIA, LLC 2 6.81% $10,783
    Carrington Mortgage Services, LLC 2 6.38% $6,764
    STOCKTON MORTGAGE CORPORATION 2 6.50% $8,099
    TOWNE MORTGAGE COMPANY 2 6.50% $10,422
    CROSSCOUNTRY MORTGAGE, LLC 2 6.75% $8,177
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $11,739
    PLAZA HOME MORTGAGE, INC. 1 6.25% $14,479
    Prosperity Home Mortgage, LLC 1 6.99% $7,073
    Renasant Bank 1 6.75% $6,862
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 7.13% $5,715
    Synovus Bank 1 6.25% $10,172
    TOTAL MORTGAGE SERVICES, LLC 1 6.75% $8,028
    Truist 1 6.63% $3,929
    ZILLOW HOME LOANS, LLC 1 6.00% $10,355
    Ameris Bank 1 7.50% $6,455
    BROKER SOLUTIONS, INC. 1 7.13% $5,769
    CARDINAL FINANCIAL 1 5.00% $11,959
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $10,254
    Colony Bank 1 7.75% $9,022
    DAS Acquisition Company, LLC 1 7.25% $16,308
    FREEDOM MORTGAGE CORPORATION 1 6.25% $12,699
    GENEVA FINANCIAL, LLC 1 6.50% $9,833
    GEORGIA'S OWN 1 6.50% $6,409
    LOANDEPOT.COM, LLC 1 7.13% $10,426
    MID AMERICA MORTGAGE, INC. 1 7.50% $5,377

    The top Tifton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 12 FHA loans originated. Their average total fees are $8,097, which is $1,940 lower than the next largest lender, BANKSOUTH MORTGAGE COMPANY, LLC.

    The lowest fee Tifton FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,097), .

    The lowest rate Tifton FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.54%), .

    Tifton FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tifton (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 $144,725 (-4.3%) $166,247 (4.4%) 0.00 116
    2018-02-01 $153,075 (2.7%) $175,236 (9.2%) 0.00 117
    2018-03-01 $155,000 (3.0%) $181,505 (7.8%) 0.00 125
    2018-04-01 $169,450 (6.0%) $192,432 (10.4%) 0.00 129
    2018-05-01 $169,450 (7.6%) $189,931 (8.3%) 0.00 118
    2018-06-01 $174,950 (14.8%) $197,028 (11.0%) 0.00 110
    2018-07-01 $174,900 (20.7%) $197,892 (17.7%) 0.00 105
    2018-08-01 $165,000 (17.9%) $188,990 (14.9%) 0.00 119
    2018-09-01 $159,000 (12.8%) $187,568 (14.2%) 0.00 130
    2018-10-01 $156,400 (13.6%) $185,010 (15.5%) 0.00 128
    2018-11-01 $152,900 (15.4%) $180,868 (13.2%) 0.00 128
    2018-12-01 $163,900 (22.3%) $184,656 (16.8%) 0.00 126
    2019-01-01 $179,450 (24.0%) $189,231 (13.8%) 0.00 112
    2019-02-01 $165,050 (7.8%) $192,699 (10.0%) 0.00 115
    2019-03-01 $172,557 (11.3%) $196,394 (8.2%) 0.00 110
    2019-04-01 $177,325 (4.7%) $203,255 (5.6%) 0.00 103
    2019-05-01 $173,800 (2.6%) $209,462 (10.3%) 0.00 105
    2019-06-01 $177,875 (1.7%) $208,323 (5.7%) 0.00 99
    2019-07-01 $179,000 (2.3%) $210,352 (6.3%) 0.00 97
    2019-08-01 $182,300 (10.5%) $213,498 (13.0%) 0.00 96
    2019-09-01 $180,950 (13.8%) $209,480 (11.7%) 0.00 96
    2019-10-01 $182,575 (16.7%) $207,674 (12.3%) 0.00 97
    2019-11-01 $184,950 (21.0%) $212,129 (17.3%) 0.00 104
    2019-12-01 $178,625 (9.0%) $199,062 (7.8%) 0.00 105
    2020-01-01 $179,000 (-0.3%) $200,629 (6.0%) 0.00 102
    2020-02-01 $177,450 (7.5%) $199,452 (3.5%) 0.00 99
    2020-03-01 $182,175 (5.6%) $205,048 (4.4%) 0.00 82
    2020-04-01 $203,725 (14.9%) $211,023 (3.8%) 0.00 82
    2020-05-01 $214,900 (23.7%) $223,053 (6.5%) 0.00 77
    2020-06-01 $226,175 (27.2%) $229,424 (10.1%) 0.00 68
    2020-07-01 $236,900 (32.4%) $238,183 (13.2%) 0.00 64
    2020-08-01 $252,200 (38.3%) $264,017 (23.7%) 0.00 54
    2020-09-01 $232,400 (28.4%) $266,236 (27.1%) 0.00 47
    2020-10-01 $214,900 (17.7%) $250,414 (20.6%) 0.00 53
    2020-11-01 $214,600 (16.0%) $247,903 (16.9%) 0.00 43
    2020-12-01 $146,425 (-18.0%) $178,076 (-10.5%) 0.00 65
    2021-01-01 $198,700 (11.0%) $260,108 (29.7%) 0.00 45
    2021-02-01 $199,900 (12.7%) $247,771 (24.2%) 0.00 40
    2021-03-01 $192,425 (5.6%) $245,134 (19.6%) 0.00 38
    2021-04-01 $223,750 (9.8%) $266,845 (26.5%) 0.00 39
    2021-05-01 $219,000 (1.9%) $259,459 (16.3%) 0.00 44
    2021-06-01 $214,450 (-5.2%) $233,931 (2.0%) 0.00 44
    2021-07-01 $219,950 (-7.2%) $244,680 (2.7%) 0.00 42
    2021-08-01 $192,925 (-23.5%) $242,582 (-8.1%) 0.00 50
    2021-09-01 $196,250 (-15.6%) $232,068 (-12.8%) 0.00 48
    2021-10-01 $214,500 (-0.2%) $252,017 (0.6%) 0.00 39
    2021-11-01 $225,725 (5.2%) $251,505 (1.5%) 0.00 31
    2021-12-01 $220,000 (50.3%) $249,441 (40.1%) 0.00 36
    2022-01-01 $229,450 (15.5%) $255,353 (-1.8%) 0.00 38
    2022-02-01 $238,700 (19.4%) $284,113 (14.7%) 0.00 36
    2022-03-01 $302,750 (57.3%) $341,091 (39.1%) 0.00 35
    2022-04-01 $317,250 (41.8%) $372,058 (39.4%) 0.00 31
    2022-05-01 $281,125 (28.4%) $350,214 (35.0%) 0.00 35
    2022-06-01 $273,750 (27.7%) $344,751 (47.4%) 0.00 35
    2022-07-01 $245,000 (11.4%) $330,480 (35.1%) 0.00 41
    2022-08-01 $248,275 (28.7%) $316,396 (30.4%) 0.00 46
    2022-09-01 $246,500 (25.6%) $351,654 (51.5%) 0.00 48
    2022-10-01 $260,000 (21.2%) $331,912 (31.7%) 0.00 52
    2022-11-01 $266,750 (18.2%) $341,953 (36.0%) 0.00 60
    2022-12-01 $276,500 (25.7%) $343,280 (37.6%) 0.00 63
    2023-01-01 $276,500 (20.5%) $348,494 (36.5%) 0.00 64
    2023-02-01 $259,900 (8.9%) $339,100 (19.4%) 0.00 55
    2023-03-01 $253,450 (-16.3%) $321,427 (-5.8%) 0.00 51
    2023-04-01 $250,000 (-21.2%) $324,139 (-12.9%) 0.00 48
    2023-05-01 $250,725 (-10.8%) $323,546 (-7.6%) 0.00 46
    2023-06-01 $257,550 (-5.9%) $344,220 (-0.2%) 0.00 50
    2023-07-01 $259,900 (6.1%) $335,147 (1.4%) 0.00 54
    2023-08-01 $273,820 (10.3%) $346,081 (9.4%) 0.00 64
    2023-09-01 $275,000 (11.6%) $307,985 (-12.4%) 0.00 68
    2023-10-01 $279,475 (7.5%) $313,411 (-5.6%) 0.00 66
    2023-11-01 $292,500 (9.7%) $314,866 (-7.9%) 0.00 67
    2023-12-01 $274,000 (-0.9%) $315,430 (-8.1%) 0.00 69
    2024-01-01 $277,475 (0.4%) $329,897 (-5.3%) 0.00 64
    2024-02-01 $272,310 (4.8%) $311,349 (-8.2%) 0.00 68
    2024-03-01 $259,750 (2.5%) $285,791 (-11.1%) 0.00 63
    Tifton's median listing price for 2024-03-01 was $259,750, a difference of $6,300 (2.5%) versus the prior year and $-12,560 versus the prior month.

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

    Tifton's average listing price for 2024-03-01 was $285,791, a difference of $-35,636 (-11.1%) versus the prior year and $-25,558 versus the prior month.

    For the 2024-03-01 period, Tifton had 63 MLS listings, a difference of -5 listings (-7%) versus the prior month and 12 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tifton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,805 sqft
    2018-02-01 0 days 1,913 sqft
    2018-03-01 0 days 1,971 sqft
    2018-04-01 0 days 2,095 sqft
    2018-05-01 0 days 2,007 sqft
    2018-06-01 0 days 2,040 sqft
    2018-07-01 0 days 2,156 sqft
    2018-08-01 0 days 2,030 sqft
    2018-09-01 0 days 2,007 sqft
    2018-10-01 0 days 1,996 sqft
    2018-11-01 0 days 1,853 sqft
    2018-12-01 0 days 1,932 sqft
    2019-01-01 0 days 1,991 sqft
    2019-02-01 0 days 2,002 sqft
    2019-03-01 0 days 2,025 sqft
    2019-04-01 0 days 2,023 sqft
    2019-05-01 0 days 2,047 sqft
    2019-06-01 0 days 2,045 sqft
    2019-07-01 0 days 2,047 sqft
    2019-08-01 0 days 2,070 sqft
    2019-09-01 0 days 2,078 sqft
    2019-10-01 0 days 2,084 sqft
    2019-11-01 0 days 2,050 sqft
    2019-12-01 0 days 2,044 sqft
    2020-01-01 0 days 2,037 sqft
    2020-02-01 0 days 1,992 sqft
    2020-03-01 0 days 1,994 sqft
    2020-04-01 0 days 1,987 sqft
    2020-05-01 0 days 2,084 sqft
    2020-06-01 0 days 2,200 sqft
    2020-07-01 0 days 2,234 sqft
    2020-08-01 0 days 2,200 sqft
    2020-09-01 0 days 2,105 sqft
    2020-10-01 0 days 2,096 sqft
    2020-11-01 0 days 2,096 sqft
    2020-12-01 0 days 2,247 sqft
    2021-01-01 0 days 2,133 sqft
    2021-02-01 0 days 2,136 sqft
    2021-03-01 0 days 2,054 sqft
    2021-04-01 0 days 1,908 sqft
    2021-05-01 0 days 1,956 sqft
    2021-06-01 0 days 1,855 sqft
    2021-07-01 0 days 1,945 sqft
    2021-08-01 0 days 1,882 sqft
    2021-09-01 0 days 1,766 sqft
    2021-10-01 0 days 1,818 sqft
    2021-11-01 0 days 1,961 sqft
    2021-12-01 0 days 1,963 sqft
    2022-01-01 0 days 1,962 sqft
    2022-02-01 0 days 1,897 sqft
    2022-03-01 0 days 1,926 sqft
    2022-04-01 0 days 2,015 sqft
    2022-05-01 0 days 2,189 sqft
    2022-06-01 0 days 2,250 sqft
    2022-07-01 0 days 1,901 sqft
    2022-08-01 0 days 1,865 sqft
    2022-09-01 0 days 2,069 sqft
    2022-10-01 0 days 2,058 sqft
    2022-11-01 0 days 2,076 sqft
    2022-12-01 0 days 2,086 sqft
    2023-01-01 0 days 2,086 sqft
    2023-02-01 0 days 2,086 sqft
    2023-03-01 0 days 1,914 sqft
    2023-04-01 0 days 1,897 sqft
    2023-05-01 0 days 1,842 sqft
    2023-06-01 0 days 1,996 sqft
    2023-07-01 0 days 2,030 sqft
    2023-08-01 0 days 1,992 sqft
    2023-09-01 0 days 1,945 sqft
    2023-10-01 0 days 1,957 sqft
    2023-11-01 0 days 1,981 sqft
    2023-12-01 0 days 1,923 sqft
    2024-01-01 0 days 1,957 sqft
    2024-02-01 0 days 1,945 sqft
    2024-03-01 0 days 1,862 sqft
    Tifton's median listing age (time on market) for 2024-03-01 was 0 days.

    Tifton's median square footage for active listings during the 2024-03-01 period was 1,862 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).