Georgia FHA Loans –  Requirements and Loan Limits for 2024 – Georgia FHA Lenders

georgia fha lenders

Georgia home buyers who need a small down payment or have poor credit scores may be able to purchase a home with an Georgia FHA loan. There are many FHA lenders in Georgia who offer FHA loans, but not all of them participate in all of the FHA loan options available.

We will take you through the Georgia FHA loan requirements, detail what is needed to qualify, then help you to get pre-qualified. If you already know that an FHA loan is right for you, then click to connect with an Georgia FHA lender whether you live in Atanta, Columbus, Savannah, Sandy Springs, or anywhere else.

Georgia FHA Down Payment Requirements

The down payment requirements for an FHA loan is the same in every state. The minimum requirement for an FHA loan is 3.5% of the purchase price. However, if your credit score is below 580, then the down payment requirement will be 10%.

If you do not have the down payment needed, you can also use gift funds from a relative.

Georgia FHA Down Payment Assistance

There are various down payment assistance programs in every state. Below is a list of just a few down payment assistance programs that may be available to you in Georgia. Home buyers will need to contact, and arrange for these programs independently. Lenders will accept the funds from these programs for your down payment but they will not arrange for the down payment assistance.

Gwinnett County Down Payment Assistance Program

Georgia Dream Home Ownership Program

Georgia FHA Loan Requirements for 2024

These are the basic FHA loan requirements for this year. All of these must be met to be approved for an FHA loan. If you are not positive on whether you meet these standards or have questions, an FHA lender can help.

  • Down payment of 3.5% or 10% if your credit score is below 580
  • 2-year employment history with some exceptions allowed
  • Fully document your income for the past two years
  • Minimum FICO score requirement of 500 – down payment will vary
  • Mortgage Insurance Premium (MIP) is required for every FHA loan
  • Maximum debt to income ratio of 43% with exceptions up to 56%
  • The home must be your primary residence
  • No bankruptcies or foreclosures in the past two years

Georgia FHA Loan Benefits

These are the benefits of an FHA loan versus a conventional loan:

  • Lower credit scores permitted
  • Lower down payment requirement
  • FHA interest rates are lower than conventional rates
  • Gift funds allowed
  • Seller closing cost contributions are allowed
  • FHA loans are assumable
  • Co-signers allowed
  • Higher debt to income ratios permitted

Top Georgia FHA lenders

These lenders are just a few options for you to consider. Please note that each lender is different and it is possible that none of these options are best for you depending upon your scenario.

  1. Carrington Mortgage Services Contact
  2. Bank of England GeorgiaContact
  3. Flagstar BankContact
  4. Quicken LoansContact
  5. Home Point FinancialContact
  6. Georgia’s Own Credit UnionContact

Let us help you to find the best Georgia FHA lenders in your area by completing this FHA loan scenario form with some basic loan scenario information. No credit report will be pulled and we can connect you with the best option.

Georgia FHA Loan Limits

Every county in the United States has specific maximum loan limits that are set for single family homes, as well as 2-4 unit properties. The limits are set based upon the average home sales value in that county. The base FHA loan limit for single family residences in Georgia for most counties is $498,257. Use this FHA loan limit lookup tool to see what the FHA loan limits are in your county.

County Name Single Family 2 Units 3 Units 4 Units
APPLING $498,257 $637,950 $771,125 $958,350
ATKINSON $498,257 $637,950 $771,125 $958,350
BACON $498,257 $637,950 $771,125 $958,350
BAKER $498,257 $637,950 $771,125 $958,350
BALDWIN $498,257 $637,950 $771,125 $958,350
BANKS $498,257 $637,950 $771,125 $958,350
BARROW $649,750 $831,800 $1,005,450 $1,249,550
BARTOW $649,750 $831,800 $1,005,450 $1,249,550
BEN HILL $498,257 $637,950 $771,125 $958,350
BERRIEN $498,257 $637,950 $771,125 $958,350
BIBB $498,257 $637,950 $771,125 $958,350
BLECKLEY $498,257 $637,950 $771,125 $958,350
BRANTLEY $498,257 $637,950 $771,125 $958,350
BROOKS $498,257 $637,950 $771,125 $958,350
BRYAN $498,257 $637,950 $771,125 $958,350
BULLOCH $498,257 $637,950 $771,125 $958,350
BURKE $498,257 $637,950 $771,125 $958,350
BUTTS $649,750 $831,800 $1,005,450 $1,249,550
CALHOUN $498,257 $637,950 $771,125 $958,350
CAMDEN $498,257 $637,950 $771,125 $958,350
CANDLER $498,257 $637,950 $771,125 $958,350
CARROLL $649,750 $831,800 $1,005,450 $1,249,550
CATOOSA $498,257 $637,950 $771,125 $958,350
CHARLTON $498,257 $637,950 $771,125 $958,350
CHATHAM $498,257 $637,950 $771,125 $958,350
CHATTAHOOCHEE $498,257 $637,950 $771,125 $958,350
CHATTOOGA $498,257 $637,950 $771,125 $958,350
CHEROKEE $649,750 $831,800 $1,005,450 $1,249,550
CLARKE $546,250 $699,300 $845,300 $1,050,500
CLAY $498,257 $637,950 $771,125 $958,350
CLAYTON $649,750 $831,800 $1,005,450 $1,249,550
CLINCH $498,257 $637,950 $771,125 $958,350
COBB $649,750 $831,800 $1,005,450 $1,249,550
COFFEE $498,257 $637,950 $771,125 $958,350
COLQUITT $498,257 $637,950 $771,125 $958,350
COLUMBIA $498,257 $637,950 $771,125 $958,350
COOK $498,257 $637,950 $771,125 $958,350
COWETA $649,750 $831,800 $1,005,450 $1,249,550
CRAWFORD $498,257 $637,950 $771,125 $958,350
CRISP $498,257 $637,950 $771,125 $958,350
DADE $498,257 $637,950 $771,125 $958,350
DAWSON $649,750 $831,800 $1,005,450 $1,249,550
DECATUR $498,257 $637,950 $771,125 $958,350
DEKALB $649,750 $831,800 $1,005,450 $1,249,550
DODGE $498,257 $637,950 $771,125 $958,350
DOOLY $498,257 $637,950 $771,125 $958,350
DOUGHERTY $498,257 $637,950 $771,125 $958,350
DOUGLAS $649,750 $831,800 $1,005,450 $1,249,550
EARLY $498,257 $637,950 $771,125 $958,350
ECHOLS $498,257 $637,950 $771,125 $958,350
EFFINGHAM $498,257 $637,950 $771,125 $958,350
ELBERT $498,257 $637,950 $771,125 $958,350
EMANUEL $498,257 $637,950 $771,125 $958,350
EVANS $498,257 $637,950 $771,125 $958,350
FANNIN $498,257 $637,950 $771,125 $958,350
FAYETTE $649,750 $831,800 $1,005,450 $1,249,550
FLOYD $498,257 $637,950 $771,125 $958,350
FORSYTH $649,750 $831,800 $1,005,450 $1,249,550
FRANKLIN $498,257 $637,950 $771,125 $958,350
FULTON $649,750 $831,800 $1,005,450 $1,249,550
GILMER $498,257 $637,950 $771,125 $958,350
GLASCOCK $498,257 $637,950 $771,125 $958,350
GLYNN $498,257 $637,950 $771,125 $958,350
GORDON $498,257 $637,950 $771,125 $958,350
GRADY $498,257 $637,950 $771,125 $958,350
GREENE $529,000 $677,200 $818,600 $1,017,300
GWINNETT $649,750 $831,800 $1,005,450 $1,249,550
HABERSHAM $498,257 $637,950 $771,125 $958,350
HALL $498,257 $637,950 $771,125 $958,350
HANCOCK $498,257 $637,950 $771,125 $958,350
HARALSON $649,750 $831,800 $1,005,450 $1,249,550
HARRIS $498,257 $637,950 $771,125 $958,350
HART $498,257 $637,950 $771,125 $958,350
HEARD $649,750 $831,800 $1,005,450 $1,249,550
HENRY $649,750 $831,800 $1,005,450 $1,249,550
HOUSTON $498,257 $637,950 $771,125 $958,350
IRWIN $498,257 $637,950 $771,125 $958,350
JACKSON $498,257 $637,950 $771,125 $958,350
JASPER $649,750 $831,800 $1,005,450 $1,249,550
JEFF DAVIS $498,257 $637,950 $771,125 $958,350
JEFFERSON $498,257 $637,950 $771,125 $958,350
JENKINS $498,257 $637,950 $771,125 $958,350
JOHNSON $498,257 $637,950 $771,125 $958,350
JONES $498,257 $637,950 $771,125 $958,350
LAMAR $649,750 $831,800 $1,005,450 $1,249,550
LANIER $498,257 $637,950 $771,125 $958,350
LAURENS $498,257 $637,950 $771,125 $958,350
LEE $498,257 $637,950 $771,125 $958,350
LIBERTY $498,257 $637,950 $771,125 $958,350
LINCOLN $498,257 $637,950 $771,125 $958,350
LONG $498,257 $637,950 $771,125 $958,350
LOWNDES $498,257 $637,950 $771,125 $958,350
LUMPKIN $498,257 $637,950 $771,125 $958,350
MACON $498,257 $637,950 $771,125 $958,350
MADISON $546,250 $699,300 $845,300 $1,050,500
MARION $498,257 $637,950 $771,125 $958,350
MCDUFFIE $498,257 $637,950 $771,125 $958,350
MCINTOSH $498,257 $637,950 $771,125 $958,350
MERIWETHER $649,750 $831,800 $1,005,450 $1,249,550
MILLER $498,257 $637,950 $771,125 $958,350
MITCHELL $498,257 $637,950 $771,125 $958,350
MONROE $498,257 $637,950 $771,125 $958,350
MONTGOMERY $498,257 $637,950 $771,125 $958,350
MORGAN $649,750 $831,800 $1,005,450 $1,249,550
MURRAY $498,257 $637,950 $771,125 $958,350
MUSCOGEE $498,257 $637,950 $771,125 $958,350
NEWTON $649,750 $831,800 $1,005,450 $1,249,550
OCONEE $546,250 $699,300 $845,300 $1,050,500
OGLETHORPE $546,250 $699,300 $845,300 $1,050,500
PAULDING $649,750 $831,800 $1,005,450 $1,249,550
PEACH $498,257 $637,950 $771,125 $958,350
PICKENS $649,750 $831,800 $1,005,450 $1,249,550
PIERCE $498,257 $637,950 $771,125 $958,350
PIKE $649,750 $831,800 $1,005,450 $1,249,550
POLK $498,257 $637,950 $771,125 $958,350
PULASKI $498,257 $637,950 $771,125 $958,350
PUTNAM $498,257 $637,950 $771,125 $958,350
QUITMAN $498,257 $637,950 $771,125 $958,350
RABUN $498,257 $637,950 $771,125 $958,350
RANDOLPH $498,257 $637,950 $771,125 $958,350
RICHMOND $498,257 $637,950 $771,125 $958,350
ROCKDALE $649,750 $831,800 $1,005,450 $1,249,550
SCHLEY $498,257 $637,950 $771,125 $958,350
SCREVEN $498,257 $637,950 $771,125 $958,350
SEMINOLE $498,257 $637,950 $771,125 $958,350
SPALDING $649,750 $831,800 $1,005,450 $1,249,550
STEPHENS $498,257 $637,950 $771,125 $958,350
STEWART $498,257 $637,950 $771,125 $958,350
SUMTER $498,257 $637,950 $771,125 $958,350
TALBOT $498,257 $637,950 $771,125 $958,350
TALIAFERRO $498,257 $637,950 $771,125 $958,350
TATTNALL $498,257 $637,950 $771,125 $958,350
TAYLOR $498,257 $637,950 $771,125 $958,350
TELFAIR $498,257 $637,950 $771,125 $958,350
TERRELL $498,257 $637,950 $771,125 $958,350
THOMAS $498,257 $637,950 $771,125 $958,350
TIFT $498,257 $637,950 $771,125 $958,350
TOOMBS $498,257 $637,950 $771,125 $958,350
TOWNS $498,257 $637,950 $771,125 $958,350
TREUTLEN $498,257 $637,950 $771,125 $958,350
TROUP $498,257 $637,950 $771,125 $958,350
TURNER $498,257 $637,950 $771,125 $958,350
TWIGGS $498,257 $637,950 $771,125 $958,350
UNION $498,257 $637,950 $771,125 $958,350
UPSON $498,257 $637,950 $771,125 $958,350
WALKER $498,257 $637,950 $771,125 $958,350
WALTON $649,750 $831,800 $1,005,450 $1,249,550
WARE $498,257 $637,950 $771,125 $958,350
WARREN $498,257 $637,950 $771,125 $958,350
WASHINGTON $498,257 $637,950 $771,125 $958,350
WAYNE $498,257 $637,950 $771,125 $958,350
WEBSTER $498,257 $637,950 $771,125 $958,350
WHEELER $498,257 $637,950 $771,125 $958,350
WHITE $498,257 $637,950 $771,125 $958,350
WHITFIELD $498,257 $637,950 $771,125 $958,350
WILCOX $498,257 $637,950 $771,125 $958,350
WILKES $498,257 $637,950 $771,125 $958,350
WILKINSON $498,257 $637,950 $771,125 $958,350
WORTH $498,257 $637,950 $771,125 $958,350

FHA 203k Loans in Georgia

FHA 203k loans are a great program which will allow you to borrow the money needed to purchase the home plus additional funds needed to rehabilitate or remodel the home. This program is also available in your state and we work with lenders that help with your FHA 203k loan.

If you would like to fully understand how this program works, we suggest reading our article on FHA 203k loans.

FHA Streamline Refinance in Georgia

The FHA streamline refinance program is available to existing homeowners who would like to refinance for a lower rate while eliminating some of the refinance costs such as an appraisal. You may also get a discount on the mortgage insurance premium which is another advantage.

For more information, please read our article on the FHA streamline refinance.

Georgia FHA Loan Pre-Approval Process

If you are looking for an FHA loan, there is an optimal process you should follow to get pre-approved.

  1. The first step is to make sure you have the minimum down payment needed to qualify
  2. check your credit and try to cleanup anything that is pulling down your scores
  3. Get a copy of your tax returns for the past two years
  4. Get copies of your pay stubs for the past month
  5. Get copies of your last two months’ bank statements
  6. Speak to an FHA lender about your loan scenario

Speak to a lender early in the process because they can identify opportunities to help with your FHA approval. This should be done months before you start looking for a home. Read more about how to get pre-approved for an FHA loan.

What to Look for in an FHA Lender

We take a few things into consideration when looking at which lenders we work with. Some of these also may be, or should be very important to you as you continue shopping for an FHA loan.

A good FHA lender will:

  • Allow for credit scores as low as 500
  • Provide FHA 203k loans
  • Offer competitive rates and fees
  • Have a great processing and underwriting team
  • Work closely with you throughout the loan process
  • Communicate well and will provide you with updates along the way

Georgia FHA Loan Calculator

FHA Calculator
Purchase Price
Interest Rate
Annual Property Taxes
Annual Homeowner's
Insurance
Credit Score Above 580
Term of Loan
FHA Payment Amount
$0
Monthly Principal &
Interest
FHA Monthly Mortgage
Insurance
Monthly Taxes and
Insurance
Loan
Amount
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Upfront FHA Mortgage
Insurance

Frequently Asked FHA Questions

Can I get an FHA loan with a bankruptcy?
In general, you will need to wait two years before applying for an FHA loan after a bankruptcy. However, there are some exceptions which may allow you to apply sooner. Read our article on the bankruptcy waiting period.

Are all FHA lenders the same?
Not all lenders who offer FHA loans are the same. They all do not offer all of the FHA programs and their rates and fees may also vary. Most importantly, the individuals who help to process and underwrite your loan will have a huge impact on your FHA loan experience.

Can I use gift funds for an FHA loan?
FHA loans do allow for gift funds to cover your down payment as well as your closing costs. The gift funds must come from a relative or a close friend as approved by the lender. You will need to provide the lender with a gift letter that is signed by the donor.

Do I need an appraisal for an FHA loan?
The FHA does require an appraisal and inspection before your loan can be approved. The FHA inspection has clear guidelines on what needs to be repaired before your loan can close. They want to make sure home buyers are moving into a home that is safe and operational.

Can I get an FHA loan for an investment property?
FHA loans are for primary residences only and if your goal is to purchase an investment property, you cannot use FHA insured financing for that purchase. However, if you are currently living in a home that is financed with an FHA loan, you can move to a new home and keep the current home as an investment.