Statesboro FHA Loan Rates, Closing Costs & Stats

Statesboro, 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.

    Statesboro's 61 lenders originated 285 FHA loans during 2024. The total origination value was $75,195,000, with an average FHA loan value of $263,842.

    Statesboro FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Statesboro averaged 6.81% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Statesboro's average FHA mortgage closing costs are $8,195.

    The average rate for the prior week (2025-07-11) was 6.8% and one month ago for the week of 2025-06-13, the average rate was 6.86%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.57%.

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

    Statesboro 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 Statesboro level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 43 6.41% $11,578
    UNITED WHOLESALE MORTGAGE, LLC 28 6.20% $13,317
    MOVEMENT MORTGAGE, LLC 24 6.56% $11,782
    BROKER SOLUTIONS, INC. 15 6.70% $10,801
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.81% $10,447
    FIRST COLONY MORTGAGE CORPORATION 8 6.36% $11,535
    FREEDOM MORTGAGE CORPORATION 7 6.36% $10,596
    Equity Prime Mortgage LLC 6 6.50% $11,853
    GUILD MORTGAGE COMPANY 6 6.15% $10,674
    Flagstar Bank, FSB 6 5.88% $10,684
    AMERICAN FINANCIAL NETWORK, INC. 5 6.80% $12,560
    PENNYMAC LOAN SERVICES, LLC 5 6.37% $9,202
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 6.88% $12,390
    EMM LOANS LLC 5 6.15% $11,545
    Colony Bank 4 6.09% $11,474
    Renasant Bank 4 6.31% $10,898
    PLANET HOME LENDING, LLC 4 6.19% $11,998
    Ameris Bank 4 6.06% $7,203
    Carrington Mortgage Services, LLC 3 6.04% $12,041
    TOWNE MORTGAGE COMPANY 3 7.54% $9,002
    BANKSOUTH MORTGAGE COMPANY, LLC 3 6.38% $12,813
    LAKEVIEW LOAN SERVICING, LLC 3 6.75% $8,654
    LOANDEPOT.COM, LLC 3 6.29% $10,664
    Mr. Cooper ( Nationstar Mortgage ) 3 6.50% $12,700
    Mortgage Research Center, LLC 3 6.33% $9,559
    Plains Commerce Bank 3 6.67% $14,151
    VANDERBILT MORTGAGE AND FINANCE, INC. 2 5.93% $11,749
    AMERICAN FINANCING CORPORATION 2 6.25% $13,443
    CARDINAL FINANCIAL 2 6.50% $9,398
    CROSSCOUNTRY MORTGAGE, LLC 2 6.69% $9,969
    ENDEAVOR CAPITAL, LLC. 2 6.37% $12,949
    FIRST COMMUNITY MORTGAGE, INC. 2 6.87% $16,255
    NATIONS DIRECT MORTGAGE, LLC 2 7.13% $10,673
    Nations Lending Corporation 2 6.63% $8,716
    NEWREZ LLC 2 6.50% $5,299
    Synovus Bank 2 6.31% $7,763
    GMFS LLC 1 5.88% $7,709
    Franklin Loan Corporation 1 6.63% $12,703
    MUTUAL OF OMAHA MORTGAGE, INC. 1 5.75% $26,265
    AmeriHome Mortgage Company, LLC 1 6.13% $6,556
    U.S. Bank 1 6.75% $8,684
    US MORTGAGE CORPORATION 1 6.00% $16,488
    Northpointe Bank 1 6.38% $6,634
    Oakstar Bank 1 6.99% $9,040
    Paramount Residential Mortgage Group, Inc. 1 6.13% $13,458
    First-Citizens Bank & Trust Company 1 5.25% $7,606
    COUNTRYPLACE MORTGAGE, LTD. 1 5.63% $17,960
    Cornerstone First Mortgage, Inc 1 6.63% $10,994
    CityWorth Mortgage LLC 1 6.13% $18,458
    RELIANCE FIRST CAPITAL, LLC 1 7.13% $12,874
    Century Mortgage Company DBA Century Lending Company 1 7.13% $19,336
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.25% $9,043
    STOCKTON MORTGAGE CORPORATION 1 6.38% $11,026
    SUN WEST MORTGAGE COMPANY, INC. 1 5.88% $18,190
    ABSOLUTE HOME MORTGAGE CORPORATION 1 6.63% $15,738
    BETTER MORTGAGE CORPORATION 1 6.25% $9,653
    TruHome Solutions, LLC 1 6.13% $8,484
    HOMESPIRE MORTGAGE CORPORATION 1 7.13% $11,962
    HOMESIDE FINANCIAL, LLC 1 5.75% $8,235
    MILEND, INC. 1 5.75% $14,892
    GUARANTEED RATE, INC. 1 6.50% $11,969

    The top Statesboro FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 43 FHA loans originated. Their average total fees are $11,578, which is $1,739 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Statesboro FHA lenders (with over 10 loans originated) are BROKER SOLUTIONS, INC. ($10,801), QUICKEN LOANS, LLC ($11,578), MOVEMENT MORTGAGE, LLC ($11,782), UNITED WHOLESALE MORTGAGE, LLC ($13,317) and .

    The lowest rate Statesboro FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.20%), QUICKEN LOANS, LLC (6.41%), MOVEMENT MORTGAGE, LLC (6.56%), BROKER SOLUTIONS, INC. (6.70%) and .

    Statesboro FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    STATESBORO, GA BULLOCH 2022 $420,680 $538,650 $651,050 $809,150
    STATESBORO, GA BULLOCH 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).