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Georgia FHA Home Loans

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2019 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 2019 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 – Pay stubs 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 assessor.  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 submitting information into these fields, it will calculate how much the FHA mortgage payment will be based upon what is inputted.  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 2019

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 $314,827 $403,125 $487,250 $605,525
ATKINSON COUNTY $314,827 $403,125 $487,250 $605,525
BACON COUNTY $314,827 $403,125 $487,250 $605,525
BAKER COUNTY $314,827 $403,125 $487,250 $605,525
BALDWIN COUNTY $314,827 $403,125 $487,250 $605,525
BANKS COUNTY $314,827 $403,125 $487,250 $605,525
BARROW COUNTY $379,500 $485,800 $587,250 $729,800
BARTOW COUNTY $379,500 $485,800 $587,250 $729,800
BEN HILL COUNTY $314,827 $403,125 $487,250 $605,525
BERRIEN COUNTY $314,827 $403,125 $487,250 $605,525
BIBB COUNTY $314,827 $403,125 $487,250 $605,525
BLECKLEY COUNTY $314,827 $403,125 $487,250 $605,525
BRANTLEY COUNTY $314,827 $403,125 $487,250 $605,525
BROOKS COUNTY $314,827 $403,125 $487,250 $605,525
BRYAN COUNTY $314,827 $403,125 $487,250 $605,525
BULLOCH COUNTY $314,827 $403,125 $487,250 $605,525
BURKE COUNTY $314,827 $403,125 $487,250 $605,525
BUTTS COUNTY $379,500 $485,800 $587,250 $729,800
CALHOUN COUNTY $314,827 $403,125 $487,250 $605,525
CAMDEN COUNTY $314,827 $403,125 $487,250 $605,525
CANDLER COUNTY $314,827 $403,125 $487,250 $605,525
CARROLL COUNTY $379,500 $485,800 $587,250 $729,800
CATOOSA COUNTY $314,827 $403,125 $487,250 $605,525
CHARLTON COUNTY $314,827 $403,125 $487,250 $605,525
CHATHAM COUNTY $314,827 $403,125 $487,250 $605,525
CHATTAHOOCHEE COUNTY $314,827 $403,125 $487,250 $605,525
CHATTOOGA COUNTY $314,827 $403,125 $487,250 $605,525
CHEROKEE COUNTY $379,500 $485,800 $587,250 $729,800
CLARKE COUNTY $341,550 $437,250 $528,500 $656,800
CLAY COUNTY $314,827 $403,125 $487,250 $605,525
CLAYTON COUNTY $379,500 $485,800 $587,250 $729,800
CLINCH COUNTY $314,827 $403,125 $487,250 $605,525
COBB COUNTY $379,500 $485,800 $587,250 $729,800
COFFEE COUNTY $314,827 $403,125 $487,250 $605,525
COLQUITT COUNTY $314,827 $403,125 $487,250 $605,525
COLUMBIA COUNTY $314,827 $403,125 $487,250 $605,525
COOK COUNTY $314,827 $403,125 $487,250 $605,525
COWETA COUNTY $379,500 $485,800 $587,250 $729,800
CRAWFORD COUNTY $314,827 $403,125 $487,250 $605,525
CRISP COUNTY $314,827 $403,125 $487,250 $605,525
DADE COUNTY $314,827 $403,125 $487,250 $605,525
DAWSON COUNTY $379,500 $485,800 $587,250 $729,800
DECATUR COUNTY $314,827 $403,125 $487,250 $605,525
DEKALB COUNTY $379,500 $485,800 $587,250 $729,800
DODGE COUNTY $314,827 $403,125 $487,250 $605,525
DOOLY COUNTY $314,827 $403,125 $487,250 $605,525
DOUGHERTY COUNTY $314,827 $403,125 $487,250 $605,525
DOUGLAS COUNTY $379,500 $485,800 $587,250 $729,800
EARLY COUNTY $314,827 $403,125 $487,250 $605,525
ECHOLS COUNTY $314,827 $403,125 $487,250 $605,525
EFFINGHAM COUNTY $314,827 $403,125 $487,250 $605,525
ELBERT COUNTY $314,827 $403,125 $487,250 $605,525
EMANUEL COUNTY $314,827 $403,125 $487,250 $605,525
EVANS COUNTY $314,827 $403,125 $487,250 $605,525
FINNIN COUNTY $314,827 $403,125 $487,250 $605,525
FAYETTE COUNTY $379,500 $485,800 $587,250 $729,800
FLOYD COUNTY $314,827 $403,125 $487,250 $605,525
FORSYTH COUNTY $379,500 $485,800 $587,250 $729,800
FRANKLIN COUNTY $314,827 $403,125  $487,250 $605,525
FULTON COUNTY $379,500 $485,800 $587,250 $729,800
GILMER COUNTY $314,827 $403,125 $487,250 $605,525
GLASCOCK COUNTY $314,827 $403,125 $487,250 $605,525
GLYNN COUNTY $314,827 $403,125 $487,250 $605,525
GORDON COUNTY $314,827 $403,125 $487,250 $605,525
GRADY COUNTY $314,827 $403,125 $487,250 $605,525
GREENE COUNTY $515,200 $659,550 $797,250 $990,800
GWINNETT COUNTY $379,500 $485,800 $587,250 $729,800
HABERSHAM COUNTY $314,827 $403,125 $487,250 $605,525
HALL COUNTY $314,827 $403,125 $487,250 $605,525
HANCOCK COUNTY $314,827 $403,125 $487,250 $605,525
HARALSON COUNTY $379,500 $485,800 $587,250 $729,800
HARRIS COUNTY $314,827 $403,125 $487,250 $605,525
HART COUNTY $314,827 $403,125 $487,250 $605,525
HEARD COUNTY $379,500 $485,800 $587,250 $729,800
HENRY COUNTY $379,500 $485,800 $587,250 $729,800
HOUSTON COUNTY $314,827 $403,125 $487,250 $605,525
IRWIN COUNTY $314,827 $403,125 $487,250 $605,525
JACKSON COUNTY $314,827 $403,125 $487,250 $605,525
JASPER COUNTY $379,500 $485,800 $587,250 $729,800
JEFF DAVIS COUNTY $314,827 $403,125 $487,250 $605,525
JEFFERSON COUNTY $314,827 $403,125 $487,250 $605,525
JENKINS COUNTY $314,827 $403,125 $487,250 $605,525
JOHNSON COUNTY $314,827 $403,125 $487,250 $605,525
JONES COUNTY $314,827 $403,125 $487,250 $605,525
LAMAR COUNTY $379,500 $485,800 $587,250 $729,800
LANIER COUNTY $314,827 $403,125 $487,250 $605,525
LAURENS COUNTY $314,827 $403,125 $487,250 $605,525
LEE COUNTY $314,827 $403,125 $487,250 $605,525
LIBERTY COUNTY $314,827 $403,125 $487,250 $605,525
LINCOLN COUNTY $314,827 $403,125 $487,250 $605,525
LONG COUNTY $314,827 $403,125 $487,250 $605,525
LOWNDES COUNTY $314,827 $403,125 $487,250 $605,525
LUMPKIN COUNTY $314,827 $403,125 $487,250 $605,525
MACON COUNTY $314,827 $403,125 $487,250 $605,525
MADISON COUNTY $341,550 $437,250 $528,500 $656,800
MARION COUNTY $314,827 $403,125 $487,250 $605,525
MCDUFFIE COUNTY $314,827 $403,125 $487,250 $605,525
MCINTOSH COUNTY $314,827 $403,125 $487,250 $605,525
MERIWETHER COUNTY $379,500 $485,800 $587,250 $729,800
MILLER COUNTY $314,827 $403,125 $487,250 $605,525
MITCHELL COUNTY $314,827 $403,125 $487,250 $605,525
MONROE COUNTY $314,827 $403,125 $487,250 $605,525
MONTGOMERY COUNTY $314,827 $403,125 $487,250 $605,525
MORGAN COUNTY $379,500 $485,800 $587,250 $729,800
MURRAY COUNTY $314,827 $403,125 $487,250 $605,525
MUSCOGEE COUNTY $314,827 $403,125 $487,250 $605,525
NEWTON COUNTY $379,500 $485,800 $587,250 $729,800
OCONEE COUNTHY $341,550 $437,250 $528,500 $656,800
OGLETHORPE COUNTY $341,550 $437,250 $528,500 $656,800
PAULDING COUNTY $379,500 $485,800 $587,250 $729,800
PEACH COUNTY $314,827 $403,125 $487,250 $605,525
PICKENS COUNTY $379,500 $485,800 $587,250 $729,800
PIERCE COUNTY $314,827 $403,125 $487,250 $605,525
PIKE COUNTY $379,500 $485,800 $587,250 $729,800
POLK COUNTY $314,827 $403,125 $487,250 $605,525
PULASKI COUNTY $314,827 $403,125 $487,250 $605,525
PUTNAM COUNTY $314,827 $403,125 $487,250 $605,525
QUITNAM COUNTY $314,827 $403,125 $487,250 $605,525
RABUN COUNTY $314,827 $403,125 $487,250 $605,525
RANDOLPH COUNTY $314,827 $403,125 $487,250 $605,525
RICHMAN COUNTY $314,827 $403,125 $487,250 $605,525
ROCKDALE COUNTY $379,500 $485,800 $587,250 $729,800
SCHLEY COUNTY $314,827 $403,125 $487,250 $605,525
SCREVEN COUNTY $314,827 $403,125 $487,250 $605,525
SEMINOLE COUNTY $314,827 $403,125 $487,250 $605,525
SPALDING COUNTY $379,500 $485,800 $587,250 $729,800
STEPHENS COUNTY $314,827 $403,125 $487,250 $605,525
STEWART COUNTY $314,827 $403,125 $487,250 $605,525
SUMTER COUNTY $314,827 $403,125 $487,250 $605,525
TALBOT COUNTY $314,827 $403,125 $487,250 $605,525
TALIAFERRO COUNTY $314,827 $403,125 $487,250 $605,525
TATTNALL COUNTY $314,827 $403,125 $487,250 $605,525
TAYLOR COUNTY $314,827 $403,125 $487,250 $605,525
TELFAIR COUNTY $314,827 $403,125 $487,250 $605,525
TERRELL COUNTY $314,827 $403,125 $487,250 $605,525
THOMAS COUNTY $314,827 $403,125 $487,250 $605,525
TIFT COUNTY $314,827 $403,125 $487,250 $605,525
TOOMBS COUNTY $314,827 $403,125 $487,250 $605,525
TOWNS COUNTY $314,827 $403,125 $487,250 $605,525
TREUTLEN COUNTY $314,827 $403,125 $487,250 $605,525
TROUP COUNTY $314,827 $403,125 $487,250 $605,525
TURNER COUNTY $314,827 $403,125 $487,250 $605,525
TWIGGS COUNTY $314,827 $403,125 $487,250 $605,525
UNION COUNTY $314,827 $403,125 $487,250 $605,525
UPSON COUNTY $314,827 $403,125 $487,250 $605,525
WALKER COUNTY $314,827 $403,125 $487,250 $605,525
WALTON COUNTY $379,500 $485,800 $587,250 $729,800
WARE COUNTY $314,827 $403,125 $487,250 $605,525
WARREN COUNTY $314,827 $403,125 $487,250 $605,525
WASHINGTON COUNTY $314,827 $403,125 $487,250 $605,525
WAYNE COUNTY $314,827 $403,125 $487,250 $605,525
WEBSTER COUNTY $314,827 $403,125 $487,250 $605,525
WHEELER COUNTY $314,827 $403,125 $487,250 $605,525
WHITE COUNTY $314,827 $403,125 $487,250 $605,525
WHITFIELD COUNTY $314,827 $403,125 $487,250 $605,525
WILCOX COUNTY $314,827 $403,125 $487,250 $605,525
WILKES COUNTY $314,827 $403,125 $487,250 $605,525
WILKINSON COUNTY $314,827 $403,125 $487,250 $605,525
WORTH COUNTY $314,827 $403,125 $487,250 $605,525

 

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