Toccoa FHA Loan Rates, Closing Costs & Stats

Toccoa, 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.

    Toccoa's 48 lenders originated 140 FHA loans during 2024. The total origination value was $30,490,000, with an average FHA loan value of $217,786.

    Toccoa FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Toccoa averaged 6.44% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Toccoa's average FHA mortgage closing costs are $7,394.

    The average rate for the prior week (2025-03-28) was 6.43% and one month ago for the week of 2025-02-28, the average rate was 6.62%.

    The average rate one year ago was 6.94%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.26%.

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

    Toccoa 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 Toccoa level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    PREMIER MORTGAGE RESOURCES, L.L.C. 17 6.37% $12,137
    QUICKEN LOANS, LLC 9 6.26% $11,492
    AMERICAN PACIFIC MORTGAGE CORPORATION 9 6.63% $10,707
    UNITED WHOLESALE MORTGAGE, LLC 8 6.22% $10,545
    BROKER SOLUTIONS, INC. 6 6.75% $11,681
    HOMEOWNERS FINANCIAL GROUP USA, LLC 5 6.00% $14,408
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.85% $9,531
    ZILLOW HOME LOANS, LLC 3 7.04% $9,046
    CROSSCOUNTRY MORTGAGE, LLC 3 6.88% $8,961
    STOCKTON MORTGAGE CORPORATION 3 6.50% $12,263
    INSPIRE HOME LOANS INC. 3 5.50% $8,345
    United Community Bank 3 6.50% $8,556
    EVERETT FINANCIAL, INC. 3 7.63% $10,903
    SENTE MORTGAGE, INC. 2 5.88% $12,478
    LOANDEPOT.COM, LLC 2 5.87% $9,491
    FBC MORTGAGE, LLC 2 4.49% $8,133
    T2 FINANCIAL LLC 2 6.69% $11,956
    Magnolia Bank 2 6.25% $8,843
    Ameris Bank 2 7.13% $10,332
    Paramount Residential Mortgage Group, Inc. 2 6.63% $9,087
    GENEVA FINANCIAL, LLC 2 6.56% $8,807
    First Option Mortgage, LLC 2 7.19% $8,777
    UNION HOME MORTGAGE CORP. 2 6.88% $14,082
    TJC Mortgage, Inc. 1 6.25% $6,812
    Willamette Valley Bank 1 6.63% $13,506
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $8,717
    AMERICAN FINANCING CORPORATION 1 5.50% $11,582
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.63% $11,122
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $13,155
    BANKSOUTH MORTGAGE COMPANY, LLC 1 6.25% $13,367
    CARDINAL FINANCIAL 1 6.75% $10,639
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 7.75% $9,829
    Colony Bank 1 6.63% $11,993
    Cornerstone First Mortgage, Inc 1 6.50% $11,491
    FIRST COMMUNITY MORTGAGE, INC. 1 7.63% $11,715
    First Heritage Mortgage, LLC 1 6.25% $8,035
    Flagstar Bank, FSB 1 6.92% $7,879
    GUARANTEED RATE, INC. 1 6.25% $11,583
    JMAC LENDING, INC. 1 7.13% $8,505
    MEMBER FIRST MORTGAGE, LLC 1 5.63% $11,671
    MORTGAGE INVESTORS GROUP, INC. 1 6.63% $7,038
    MOVEMENT MORTGAGE, LLC 1 7.13% $12,787
    Alcova Mortgage LLC 1 6.50% $2,643
    NATIONS DIRECT MORTGAGE, LLC 1 6.63% $19,834
    PENNYMAC LOAN SERVICES, LLC 1 5.25% $4,620
    Prosperity Home Mortgage, LLC 1 6.00% $9,366
    Regions Bank 1 5.75% $6,960
    SUMMIT FUNDING, INC. 1 6.00% $11,024

    The top Toccoa FHA lender as defined by loan originations is PREMIER MORTGAGE RESOURCES, L.L.C., with 17 FHA loans originated. Their average total fees are $12,137, which is $645 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Toccoa FHA lenders (with over 10 loans originated) are PREMIER MORTGAGE RESOURCES, L.L.C. ($12,137), .

    The lowest rate Toccoa FHA lenders (with over 10 loans originated) are PREMIER MORTGAGE RESOURCES, L.L.C. (6.37%), .

    Toccoa FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Toccoa (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 $216,000 (0.7%) $291,172 (6.4%) 0.00 124
    2018-02-01 $216,000 (-1.9%) $287,059 (4.1%) 0.00 130
    2018-03-01 $229,450 (1.8%) $289,124 (3.0%) 0.00 142
    2018-04-01 $243,475 (8.2%) $298,603 (6.9%) 0.00 144
    2018-05-01 $235,375 (3.7%) $297,791 (8.7%) 0.00 153
    2018-06-01 $229,000 (-3.8%) $292,674 (4.4%) 0.00 158
    2018-07-01 $250,000 (0.0%) $304,483 (2.9%) 0.00 149
    2018-08-01 $250,000 (0.1%) $302,984 (1.4%) 0.00 136
    2018-09-01 $235,000 (-6.0%) $292,799 (-4.0%) 0.00 135
    2018-10-01 $225,000 (-0.4%) $282,041 (-6.4%) 0.00 146
    2018-11-01 $220,000 (-10.6%) $303,628 (-0.5%) 0.00 143
    2018-12-01 $239,000 (1.1%) $315,162 (3.3%) 0.00 129
    2019-01-01 $244,950 (13.4%) $321,139 (10.3%) 0.00 123
    2019-02-01 $224,000 (3.7%) $312,671 (8.9%) 0.00 115
    2019-03-01 $200,143 (-12.8%) $284,988 (-1.4%) 0.00 118
    2019-04-01 $191,818 (-21.2%) $267,286 (-10.5%) 0.00 123
    2019-05-01 $214,175 (-9.0%) $278,289 (-6.6%) 0.00 111
    2019-06-01 $199,900 (-12.7%) $270,920 (-7.4%) 0.00 115
    2019-07-01 $205,825 (-17.7%) $270,769 (-11.1%) 0.00 123
    2019-08-01 $179,655 (-28.1%) $264,438 (-12.7%) 0.00 121
    2019-09-01 $186,711 (-20.6%) $267,007 (-8.8%) 0.00 122
    2019-10-01 $215,350 (-4.3%) $275,868 (-2.2%) 0.00 116
    2019-11-01 $250,000 (13.6%) $299,474 (-1.4%) 0.00 101
    2019-12-01 $252,200 (5.5%) $302,360 (-4.1%) 0.00 89
    2020-01-01 $252,450 (3.1%) $301,616 (-6.1%) 0.00 82
    2020-02-01 $254,900 (13.8%) $297,139 (-5.0%) 0.00 78
    2020-03-01 $247,000 (23.4%) $282,910 (-0.7%) 0.00 78
    2020-04-01 $244,700 (27.6%) $281,015 (5.1%) 0.00 85
    2020-05-01 $247,000 (15.3%) $292,465 (5.1%) 0.00 76
    2020-06-01 $270,750 (35.4%) $314,663 (16.2%) 0.00 66
    2020-07-01 $249,250 (21.1%) $307,401 (13.5%) 0.00 54
    2020-08-01 $257,400 (43.3%) $308,117 (16.5%) 0.00 52
    2020-09-01 $281,150 (50.6%) $320,551 (20.1%) 0.00 55
    2020-10-01 $279,900 (30.0%) $321,748 (16.6%) 0.00 53
    2020-11-01 $277,975 (11.2%) $313,730 (4.8%) 0.00 51
    2020-12-01 $207,450 (-17.7%) $272,516 (-9.9%) 0.00 46
    2021-01-01 $279,450 (10.7%) $304,661 (1.0%) 0.00 57
    2021-02-01 $264,900 (3.9%) $334,119 (12.5%) 0.00 65
    2021-03-01 $324,450 (31.4%) $386,218 (36.5%) 0.00 57
    2021-04-01 $324,450 (32.6%) $393,109 (39.9%) 0.00 52
    2021-05-01 $329,450 (33.4%) $401,060 (37.1%) 0.00 52
    2021-06-01 $329,900 (21.9%) $383,757 (22.0%) 0.00 55
    2021-07-01 $349,900 (40.4%) $431,142 (40.3%) 0.00 54
    2021-08-01 $324,450 (26.1%) $364,725 (18.4%) 0.00 52
    2021-09-01 $314,250 (11.8%) $339,940 (6.1%) 0.00 67
    2021-10-01 $299,950 (7.2%) $330,551 (2.7%) 0.00 59
    2021-11-01 $275,600 (-0.9%) $297,738 (-5.1%) 0.00 59
    2021-12-01 $281,200 (35.6%) $307,148 (12.7%) 0.00 55
    2022-01-01 $294,900 (5.5%) $318,000 (4.4%) 0.00 41
    2022-02-01 $286,725 (8.2%) $300,579 (-10.0%) 0.00 40
    2022-03-01 $289,950 (-10.6%) $321,792 (-16.7%) 0.00 43
    2022-04-01 $307,500 (-5.2%) $326,739 (-16.9%) 0.00 38
    2022-05-01 $278,475 (-15.5%) $339,034 (-15.5%) 0.00 54
    2022-06-01 $277,000 (-16.0%) $334,770 (-12.8%) 0.00 49
    2022-07-01 $268,900 (-23.2%) $311,806 (-27.7%) 0.00 65
    2022-08-01 $281,200 (-13.3%) $310,385 (-14.9%) 0.00 85
    2022-09-01 $284,900 (-9.3%) $317,232 (-6.7%) 0.00 78
    2022-10-01 $269,750 (-10.1%) $310,999 (-5.9%) 0.00 79
    2022-11-01 $282,400 (2.5%) $322,629 (8.4%) 0.00 75
    2022-12-01 $309,900 (10.2%) $355,663 (15.8%) 0.00 64
    2023-01-01 $328,650 (11.4%) $360,189 (13.3%) 0.00 59
    2023-02-01 $334,950 (16.8%) $393,526 (30.9%) 0.00 55
    2023-03-01 $331,250 (14.2%) $390,733 (21.4%) 0.00 61
    2023-04-01 $330,000 (7.3%) $410,528 (25.6%) 0.00 66
    2023-05-01 $336,175 (20.7%) $383,016 (13.0%) 0.00 74
    2023-06-01 $338,675 (22.3%) $414,098 (23.7%) 0.00 67
    2023-07-01 $339,900 (26.4%) $428,148 (37.3%) 0.00 76
    2023-08-01 $327,475 (16.5%) $406,085 (30.8%) 0.00 82
    2023-09-01 $309,950 (8.8%) $395,367 (24.6%) 0.00 72
    2023-10-01 $327,500 (21.4%) $414,313 (33.2%) 0.00 75
    2023-11-01 $289,900 (2.7%) $389,749 (20.8%) 0.00 85
    2023-12-01 $286,000 (-7.7%) $376,426 (5.8%) 0.00 79
    2024-01-01 $299,950 (-8.7%) $387,196 (7.5%) 0.00 78
    2024-02-01 $305,950 (-8.7%) $432,782 (10.0%) 0.00 76
    2024-03-01 $297,400 (-10.2%) $437,121 (11.9%) 0.00 78
    2024-04-01 $299,225 (-9.3%) $415,515 (1.2%) 0.00 73
    2024-05-01 $332,000 (-1.2%) $460,466 (20.2%) 0.00 75
    2024-06-01 $319,500 (-5.7%) $443,948 (7.2%) 0.00 85
    2024-07-01 $308,675 (-9.2%) $421,645 (-1.5%) 0.00 103
    2024-08-01 $294,900 (-10.0%) $416,769 (2.6%) 0.00 108
    2024-09-01 $277,450 (-10.5%) $419,353 (6.1%) 0.00 116
    2024-10-01 $284,950 (-13.0%) $439,332 (6.0%) 0.00 121
    2024-11-01 $277,450 (-4.3%) $420,513 (7.9%) 0.00 124
    2024-12-01 $296,175 (3.6%) $418,752 (11.2%) 0.00 129
    2025-01-01 $299,675 (-0.1%) $430,371 (11.2%) 0.00 111
    2025-02-01 $293,150 (-4.2%) $420,557 (-2.8%) 0.00 115
    2025-03-01 $309,900 (4.2%) $425,404 (-2.7%) 0.00 118
    Toccoa's median listing price for 2025-03-01 was $309,900, a difference of $12,500 (4.2%) versus the prior year and $16,750 versus the prior month.

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

    Toccoa's average listing price for 2025-03-01 was $425,404, a difference of $-11,717 (-2.7%) versus the prior year and $4,847 versus the prior month.

    For the 2025-03-01 period, Toccoa had 118 MLS listings, a difference of 3 listings (3%) versus the prior month and 40 listings (51%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Toccoa (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,937 sqft
    2018-02-01 0 days 1,985 sqft
    2018-03-01 0 days 2,132 sqft
    2018-04-01 0 days 2,096 sqft
    2018-05-01 0 days 2,085 sqft
    2018-06-01 0 days 2,028 sqft
    2018-07-01 0 days 2,168 sqft
    2018-08-01 0 days 2,134 sqft
    2018-09-01 0 days 2,044 sqft
    2018-10-01 0 days 1,926 sqft
    2018-11-01 0 days 1,967 sqft
    2018-12-01 0 days 2,039 sqft
    2019-01-01 0 days 2,054 sqft
    2019-02-01 0 days 1,884 sqft
    2019-03-01 0 days 1,815 sqft
    2019-04-01 0 days 1,792 sqft
    2019-05-01 0 days 1,777 sqft
    2019-06-01 0 days 1,733 sqft
    2019-07-01 0 days 1,756 sqft
    2019-08-01 0 days 1,756 sqft
    2019-09-01 0 days 1,770 sqft
    2019-10-01 0 days 1,806 sqft
    2019-11-01 0 days 2,030 sqft
    2019-12-01 0 days 2,122 sqft
    2020-01-01 0 days 2,161 sqft
    2020-02-01 0 days 2,180 sqft
    2020-03-01 0 days 1,978 sqft
    2020-04-01 0 days 2,041 sqft
    2020-05-01 0 days 2,011 sqft
    2020-06-01 0 days 2,223 sqft
    2020-07-01 0 days 1,925 sqft
    2020-08-01 0 days 1,720 sqft
    2020-09-01 0 days 1,720 sqft
    2020-10-01 0 days 1,693 sqft
    2020-11-01 0 days 1,741 sqft
    2020-12-01 0 days 1,632 sqft
    2021-01-01 0 days 1,625 sqft
    2021-02-01 0 days 1,545 sqft
    2021-03-01 0 days 1,693 sqft
    2021-04-01 0 days 1,517 sqft
    2021-05-01 0 days 1,648 sqft
    2021-06-01 0 days 1,734 sqft
    2021-07-01 0 days 1,852 sqft
    2021-08-01 0 days 1,960 sqft
    2021-09-01 0 days 1,788 sqft
    2021-10-01 0 days 1,840 sqft
    2021-11-01 0 days 1,638 sqft
    2021-12-01 0 days 1,694 sqft
    2022-01-01 0 days 1,668 sqft
    2022-02-01 0 days 1,663 sqft
    2022-03-01 0 days 1,710 sqft
    2022-04-01 0 days 1,642 sqft
    2022-05-01 0 days 1,760 sqft
    2022-06-01 0 days 1,751 sqft
    2022-07-01 0 days 1,672 sqft
    2022-08-01 0 days 1,611 sqft
    2022-09-01 0 days 1,683 sqft
    2022-10-01 0 days 1,607 sqft
    2022-11-01 0 days 1,634 sqft
    2022-12-01 0 days 1,745 sqft
    2023-01-01 0 days 1,793 sqft
    2023-02-01 0 days 1,792 sqft
    2023-03-01 0 days 1,762 sqft
    2023-04-01 0 days 1,784 sqft
    2023-05-01 0 days 1,800 sqft
    2023-06-01 0 days 1,900 sqft
    2023-07-01 0 days 1,875 sqft
    2023-08-01 0 days 1,780 sqft
    2023-09-01 0 days 1,848 sqft
    2023-10-01 0 days 1,770 sqft
    2023-11-01 0 days 1,657 sqft
    2023-12-01 0 days 1,576 sqft
    2024-01-01 0 days 1,658 sqft
    2024-02-01 0 days 1,650 sqft
    2024-03-01 0 days 1,646 sqft
    2024-04-01 0 days 1,597 sqft
    2024-05-01 0 days 1,742 sqft
    2024-06-01 0 days 1,734 sqft
    2024-07-01 0 days 1,754 sqft
    2024-08-01 0 days 1,729 sqft
    2024-09-01 0 days 1,553 sqft
    2024-10-01 0 days 1,600 sqft
    2024-11-01 0 days 1,600 sqft
    2024-12-01 0 days 1,702 sqft
    2025-01-01 0 days 1,665 sqft
    2025-02-01 0 days 1,707 sqft
    2025-03-01 0 days 1,613 sqft
    Toccoa's median listing age (time on market) for 2025-03-01 was 0 days.

    Toccoa's median square footage for active listings during the 2025-03-01 period was 1,613 sqft. One year prior, the average listing was 1,646 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).