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Georgia FHA Home Loans

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2018 Georgia FHA Loan Requirements

Georgia FHA Loans | Requirements | Loan Limits | Application

Our goal is to provide you with all of the information and tools you need in order to determine if a FHA loan is right for you. On this page, you can view the 2018 Georgia FHA loan guidelines, view loan limits by county, and calculate your monthly payment.  These guidelines include the FHA requirements related to credit history, income, employment, and the type of property you want to purchase.  After reading the loan requirements and loan limits, you can use our detailed FHA calculator, which will allow you to see what your monthly payment, mortgage insurance, and monthly escrow will be.

One of the most common questions people ask is regarding where in Georgia FHA loans are available. They are available throughout every county of the state, and you can view the max lending limits for your county below.  FHA mortgages are especially popular in cities and larger towns, such as: Albany, Alpharetta, Athens, Augusta, Columbus, Johns Creek, Macon, Marietta, Roswell, Sandy Springs, Savannah, and Valdosta. You can finance a home purchase with a FHA loan in a rural area as well though.

Georgia FHA Loan Requirements

Keep in mind that each application is looked at individually, and FHA loans have a considerable amount of leniency in what is required for an approval. There are some concrete loan requirements set out by the FHA though, which dictates what loans they will insure. The following information is written in the context of buying a home with a FHA loan. If you already have a FHA loan, or if you wish to refinance into a FHA loan, please click here to learn about FHA refinancing.

The mandatory Georgia FHA loan requirements for a home purchase are as follows:

  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. The FHA does not insure investment properties. Multifamily homes are allowed, which can have up to 4 units, but you must occupy at least one of them for it to be eligible for a FHA home loan in Georgia.
  • Credit Score – A credit score of 580 or higher is needed for FHA loans.  This includes first time home buyer mortgages, repeat buyer loans, and any FHA refinance program.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistency of income.
  • Income Documentation – Paystubs and tax returns are required to show employment income, as well as bank statements, including your checking or savings accounts.
  • DTI Ratio – Your monthly debts, including your new mortgage payment, must not exceed 43% of your bring home income.  What you want to do is calculate all of your current monthly debts (do not include anything that does not show on your credit report – only those that appear on a credit report are counted).  Then, take the total of your current debts, plus what your expected new mortgage payment, and get a total.  Let’s say your current monthly debts are $750 and your new mortgage payment will be $1,000/month.  Your total monthly debts would be $1,750.  Compare this amount to your monthly income to calculate your DTI ratio.  Your monthly debts compared to your monthly income shall not exceed 43% for you to qualify for a FHA loan.

You can calculate your new FHA payment below. Not sure what your FHA interest rate will be?  We can provide you with a free consultation and rate quote.

FHA Mortgage Calculator

%

Total Monthly Payment

$0

FHA base loan amount$0
FHA upfront MIP 1.75%$0
FHA total loan amount$0
Principal & interest$0
FHA MIP 0%$0
Monthly escrow$0
Down payment0%

  • Price of Home – Enter the price of the home you want to buy. If you do not have a home in mind yet, just add in a number in the range you expect to want to buy a home for.
  • Mortgage – The second field titled “mortgage”, is by default on a 30 year fixed loan schedule.  This is the most common loan repayment schedule selected for FHA loans.  You can change it to 20 years, 15 years, or 10 years if you want a shorter loan amortization.
  • Interest Rate – The interest rate a borrower receives depends on their credit, income, and other qualifying factors.  To get an actual rate quote, you will need to speak with a licensed loan officer.  You can call 1-800-731-3560 to speak with a loan specialist and receive a rate quote.
  • Down Payment – FHA loans require a 3.5% down payment.  If you would like to put more down, add in more into the down payment field.  Please note that not everyone will qualify for a 3.5% down payment, and of course, not all applicants are approved for a loan at all.  The 3.5% is the amount that many FHA loan applicants will be allowed as a minimum down payment.
  • Property Taxes – Add the annual taxes for the home you want to buy.  To find out how much the annual property taxes are, check with the county accessor.  You can also ask a real estate agent to help you find out what the exact annual property taxes are for a home you are interested in.
  • Annual Insurance – The amount that the annual homeowners insurance will cost depends on the property you intend to buy, your homeowners insurance claim history (if you have owned a home before, and had to make a claim), and the specific homeowners insurance company that you select to insure your home.
  • Down Payment – This is the percentage that is calculated based upon the home purchase price and the down payment amount.

After summiting information into these fields, it will calculate how much the FHA mortgage payment will be based upon these numbers.  The next set of data presented on the right side and shows under the total monthly payment is as follows:

  • FHA Base Loan Amount -This is the amount of your loan after subtracting your down payment from the total, but prior to adding in the FHA upfront mortgage insurance premium (UPMIP).
  • FHA Upfront MIP – All FHA loans require a 1.75% upfront mortgage insurance premium to be paid. This is calculated from the base loan amount. This 1.75% is the same for any borrower and on any type of FHA loan. It does not vary from one FHA lender to another.
  • FHA Total Loan Amount – This is the combined total of your FHA base loan amount (after subtracting the down payment), along with the FHA UPMIP. You have the option to pay the FHA UPMIP amount out of pocket, or you can wrap it into the loan amount.  Most decide to include it in the loan amount, so we have it automatically added on the calculator.
  • Principle and Interest – This is the amount of your mortgage payment before adding mortgage insurance, and property taxes, and property insurance.
  • FHA MIP – This is the monthly mortgage insurance premiums required on all FHA loans.   The amount depends on the type of loan, how many years the repayment schedule is (such as 15 years or 30 years), and the loan-to-value (LTV) ratio.  A 15 year loan with a LTV less than 90%, the monthly MIP will be 0.45%.  A 15 year loan with a LTV greater than 90%, the monthly MIP will be 0.70%.  For a 30 year loan with a LTV less than 95% the monthly MIP is 0.80%.  For a 30 year loan with a LTV greater than 95%, the monthly MIP is 0.85%.
  • Monthly Escrow – This is how much your property taxes and property insurance is after taking the annual amounts and dividing them by 12 monthly payments.

Would you like to receive more information or apply for a FHA loan?

Georgia FHA Loan Limits for 2018

Use this table to determine the max lending limits for your county. The four columns and amounts for each represent the highest loan amount the FHA will insure based on the number of units.  Keep in mind, these maximum loan limits are the ceiling amount that can be financed with a FHA loan.  The limit to how much you can personally borrow will depend on your credit, income, and how much debt you currently have.

County Single Family 2 Family 3 Family 4 Family
APPLING COUNTY $294,515 $377,075 $455,800 $566,425
ATKINSON COUNTY $294,515 $377,075 $455,800 $566,425
BACON COUNTY $294,515 $377,075 $455,800 $566,425
BAKER COUNTY $294,515 $377,075 $455,800 $566,425
BALDWIN COUNTY $294,515 $377,075 $455,800 $566,425
BANKS COUNTY $294,515 $377,075 $455,800 $566,425
BARROW COUNTY $359,950 $460,800 $557,000 $692,200
BARTOW COUNTY $359,950 $460,800 $557,000 $692,200
BEN HILL COUNTY $294,515 $377,075 $455,800 $566,425
BERRIEN COUNTY $294,515 $377,075 $455,800 $566,425
BIBB COUNTY $294,515 $377,075 $455,800 $566,425
BLECKLEY COUNTY $294,515 $377,075 $455,800 $566,425
BRANTLEY COUNTY $294,515 $377,075 $455,800 $566,425
BROOKS COUNTY $294,515 $377,075 $455,800 $566,425
BRYAN COUNTY $294,515 $377,075 $455,800 $566,425
BULLOCH COUNTY $294,515 $377,075 $455,800 $566,425
BURKE COUNTY $294,515 $377,075 $455,800 $566,425
BUTTS COUNTY $359,950 $460,800 $557,000 $692,200
CALHOUN COUNTY $294,515 $377,075 $455,800 $566,425
CAMDEN COUNTY $294,515 $377,075 $455,800 $566,425
CANDLER COUNTY $294,515 $377,075 $455,800 $566,425
CARROLL COUNTY $359,950 $460,800 $557,000 $692,200
CATOOSA COUNTY $294,515 $377,075 $455,800 $566,425
CHARLTON COUNTY $294,515 $377,075 $455,800 $566,425
CHATHAM COUNTY $294,515 $377,075 $455,800 $566,425
CHATTAHOOCHEE COUNTY $294,515 $377,075 $455,800 $566,425
CHATTOOGA COUNTY $294,515 $377,075 $455,800 $566,425
CHEROKEE COUNTY $359,950 $460,800 $557,000 $692,200
CLARKE COUNTY $320,850 $410,750 $496,500 $617,000
CLAY COUNTY $294,515 $377,075 $455,800 $566,425
CLAYTON COUNTY $359,950 $460,800 $557,000 $692,200
CLINCH COUNTY $294,515 $377,075 $455,800 $566,425
COBB COUNTY $359,950 $460,800 $557,000 $692,200
COFFEE COUNTY $294,515 $377,075 $455,800 $566,425
COLQUITT COUNTY $294,515 $377,075 $455,800 $566,425
COLUMBIA COUNTY $294,515 $377,075 $455,800 $566,425
COOK COUNTY $294,515 $377,075 $455,800 $566,425
COWETA COUNTY $359,950 $460,800 $557,000 $692,200
CRAWFORD COUNTY $294,515 $377,075 $455,800 $566,425
CRISP COUNTY $294,515 $377,075 $455,800 $566,425
DADE COUNTY $294,515 $377,075 $455,800 $566,425
DAWSON COUNTY $359,950 $460,800 $557,000 $692,200
DECATUR COUNTY $294,515 $377,075 $455,800 $566,425
DEKALB COUNTY $359,950 $460,800 $557,000 $692,200
DODGE COUNTY $294,515 $377,075 $455,800 $566,425
DOOLY COUNTY $294,515 $377,075 $455,800 $566,425
DOUGHERTY COUNTY $294,515 $377,075 $455,800 $566,425
DOUGLAS COUNTY $359,950 $460,800 $557,000 $692,200
EARLY COUNTY $294,515 $377,o75 $455,800 $566,425
ECHOLS COUNTY $294,515 $377,075 $455,800 $566,425
EFFINGHAM COUNTY $294,515 $377,075 $455,800 $566,425
ELBERT COUNTY $294,515 $377,075 $455,800 $566,425
EMANUEL COUNTY $294,515 $377,075 $455,800 $566,425
EVANS COUNTY $294,515 $377,075 $455,800 $566,425
FINNIN COUNTY $294,515 $377,075 $455,800 $566,425
FAYETTE COUNTY $359,950 $460,800 $557,000 $692,200
FLOYD COUNTY $294,515 $377,075 $455,800 $566,425
FORSYTH COUNTY $359,950 $460,800 $557,000 $692,200
FRANKLIN COUNTY $294,515 $377,075  $455,800 $566,425
FULTON COUNTY $359,950 $460,800 $557,000 $692,200
GILMER COUNTY $294,515 $377,075 $455,800 $566,425
GLASCOCK COUNTY $294,515 $377,075 $455,800 $566,425
GLYNN COUNTY $294,515 $377,075 $455,800 $566,425
GORDON COUNTY $294,515 $377,075 $455,800 $566,425
GRADY COUNTY $294,515 $377,075 $455,800 $566,425
GREENE COUNTY $515,200 $659,550 $797,250 $990,800
GWINNETT COUNTY $359,950 $460,800 $557,000 $692,200
HABERSHAM COUNTY $294,515 $377,075 $455,800 $566,425
HALL COUNTY $294,515 $377,075 $455,800 $566,425
HANCOCK COUNTY $294,515 $377,075 $455,800 $566,425
HARALSON COUNTY $359,950 $460,800 $557,000 $692,200
HARRIS COUNTY $294,515 $377,075 $455,800 $566,425
HART COUNTY $294,515 $377,075 $455,800 $566,425
HEARD COUNTY $359,950 $460,800 $557,000 $692,200
HENRY COUNTY $359,950 $460,800 $557,000 $692,200
HOUSTON COUNTY $294,515 $377,075 $455,800 $566,425
IRWIN COUNTY $294,515 $377,075 $455,800 $566,425
JACKSON COUNTY $294,515 $377,075 $455,800 $566,425
JASPER COUNTY $359,950 $460,800 $557,000 $692,200
JEFF DAVIS COUNTY $294,515 $377,075 $455,800 $566,425
JEFFERSON COUNTY $294,515 $377,075 $455,800 $566,425
JENKINS COUNTY $294,515 $377,075 $455,800 $566,425
JOHNSON COUNTY $294,515 $377,075 $455,800 $566,425
JONES COUNTY $294,515 $377,075 $455,800 $566,425
LAMAR COUNTY $359,950 $460,800 $557,000 $692,200
LANIER COUNTY $294,515 $377,075 $455,800 $566,425
LAURENS COUNTY $294,515 $377,075 $455,800 $566,425
LEE COUNTY $294,515 $377,075 $455,800 $566,425
LIBERTY COUNTY $294,515 $377,075 $455,800 $566,425
LINCOLN COUNTY $294,515 $377,075 $455,800 $566,425
LONG COUNTY $294,515 $377,075 $455,800 $566,425
LOWNDES COUNTY $294,515 $377,075 $455,800 $566,425
LUMPKIN COUNTY $294,515 $377,075 $455,800 $566,425
MACON COUNTY $294,515 $377,075 $455,800 $566,425
MADISON COUNTY $320,850 $410,750 $496,500 $617,000
MARION COUNTY $294,515 $377,075 $455,800 $566,425
MCDUFFIE COUNTY $294,515 $377,075 $455,800 $566,425
MCINTOSH COUNTY $294,515 $377,075 $455,800 $566,425
MERIWETHER COUNTY $359,950 $460,800 $557,000 $692,200
MILLER COUNTY $294,515 $377,075 $455,800 $566,425
MITCHELL COUNTY $294,515 $377,075 $455,800 $566,425
MONROE COUNTY $294,515 $377,075 $455,800 $566,425
MONTGOMERY COUNTY $294,515 $377,075 $455,800 $566,425
MORGAN COUNTY $359,950 $460,800 $557,000 $692,200
MURRAY COUNTY $294,515 $377,075 $455,800 $566,425
MUSCOGEE COUNTY $294,515 $377,075 $455,800 $566,425
NEWTON COUNTY $359,950 $460,800 $557,000 $692,200
OCONEE COUNTHY $320,850 $410,750 $496,500 $617,000
OGLETHORPE COUNTY $320,850 $410,750 $496,500 $617,000
PAULDING COUNTY $359,950 $460,800 $557,000 $692,200
PEACH COUNTY $294,515 $377,075 $455,800 $566,425
PICKENS COUNTY $359,950 $460,800 $557,000 $692,200
PIERCE COUNTY $294,515 $377,075 $455,800 $566,425
PIKE COUNTY $359,950 $460,800 $557,000 $692,200
POLK COUNTY $294,515 $377,075 $455,800 $566,425
PULASKI COUNTY $294,515 $377,075 $455,800 $566,425
PUTNAM COUNTY $294,515 $377,075 $455,800 $566,425
QUITNAM COUNTY $294,515 $377,075 $455,800 $566,425
RABUN COUNTY $294,515 $377,075 $455,800 $566,425
RANDOLPH COUNTY $294,515 $377,075 $455,800 $566,425
RICHMAN COUNTY $294,515 $377,075 $455,800 $566,425
ROCKDALE COUNTY $359,950 $460,800 $557,000 $692,200
SCHLEY COUNTY $294,515 $377,075 $455,800 $566,425
SCREVEN COUNTY $294,515 $377,075 $455,800 $566,425
SEMINOLE COUNTY $294,515 $377,075 $455,800 $566,425
SPALDING COUNTY $359,950 $460,800 $557,000 $692,200
STEPHENS COUNTY $294,515 $377,075 $455,800 $566,425
STEWART COUNTY $294,515 $377,075 $455,800 $566,425
SUMTER COUNTY $294,515 $377,075 $455,800 $566,425
TALBOT COUNTY $294,515 $377,075 $455,800 $566,425
TALIAFERRO COUNTY $294,515 $377,075 $455,800 $566,425
TATTNALL COUNTY $294,515 $377,075 $455,800 $566,425
TAYLOR COUNTY $294,515 $377,075 $455,800 $566,425
TELFAIR COUNTY $294,515 $377,075 $455,800 $566,425
TERRELL COUNTY $294,515 $377,075 $455,800 $566,425
THOMAS COUNTY $294,515 $377,075 $455,800 $566,425
TIFT COUNTY $294,515 $377,075 $455,800 $566,425
TOOMBS COUNTY $294,515 $377,075 $455,800 $566,425
TOWNS COUNTY $294,515 $377,075 $455,800 $566,425
TREUTLEN COUNTY $294,515 $377,075 $455,800 $566,425
TROUP COUNTY $294,515 $377,075 $455,800 $566,425
TURNER COUNTY $294,515 $377,075 $455,800 $566,425
TWIGGS COUNTY $294,515 $377,075 $455,800 $566,425
UNION COUNTY $294,515 $377,075 $455,800 $566,425
UPSON COUNTY $294,515 $377,075 $455,800 $566,425
WALKER COUNTY $294,515 $377,075 $455,800 $566,425
WALTON COUNTY $359,950 $460,800 $557,000 $692,200
WARE COUNTY $294,515 $377,075 $455,800 $566,425
WARREN COUNTY $294,515 $377,075 $455,800 $566,425
WASHINGTON COUNTY $294,515 $377,075 $455,800 $566,425
WAYNE COUNTY $294,515 $377,075 $455,800 $566,425
WEBSTER COUNTY $294,525 $377,075 $455,800 $566,425
WHEELER COUNTY $294,515 $377,075 $455,800 $566,425
WHITE COUNTY $294,515 $377,075 $455,800 $566,425
WHITFIELD COUNTY $294,515 $377,075 $455,800 $566,425
WILCOX COUNTY $294,515 $377,075 $455,800 $566,425
WILKES COUNTY $294,515 $377,075 $455,800 $566,425
WILKINSON COUNTY $294,515 $377,075 $455,800 $566,425
WORTH COUNTY $294,515 $377,075 $455,800 $566,425

 

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