Georgia FHA Loans –  Requirements and Loan Limits for 2022 – 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 2022

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
  2. Bank of England Georgia
  3. Flagstar Bank
  4. Quicken Loans
  5. Home Point Financial
  6. Georgia’s Own Credit Union

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 $420,680. 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 $420,680 $538,650 $651,050 $809,150
ATKINSON $420,680 $538,650 $651,050 $809,150
BACON $420,680 $538,650 $651,050 $809,150
BAKER $420,680 $538,650 $651,050 $809,150
BALDWIN $420,680 $538,650 $651,050 $809,150
BANKS $420,680 $538,650 $651,050 $809,150
BARROW $471,500 $603,600 $729,600 $906,750
BARTOW $471,500 $603,600 $729,600 $906,750
BEN HILL $420,680 $538,650 $651,050 $809,150
BERRIEN $420,680 $538,650 $651,050 $809,150
BIBB $420,680 $538,650 $651,050 $809,150
BLECKLEY $420,680 $538,650 $651,050 $809,150
BRANTLEY $420,680 $538,650 $651,050 $809,150
BROOKS $420,680 $538,650 $651,050 $809,150
BRYAN $420,680 $538,650 $651,050 $809,150
BULLOCH $420,680 $538,650 $651,050 $809,150
BURKE $420,680 $538,650 $651,050 $809,150
BUTTS $471,500 $603,600 $729,600 $906,750
CALHOUN $420,680 $538,650 $651,050 $809,150
CAMDEN $420,680 $538,650 $651,050 $809,150
CANDLER $420,680 $538,650 $651,050 $809,150
CARROLL $471,500 $603,600 $729,600 $906,750
CATOOSA $420,680 $538,650 $651,050 $809,150
CHARLTON $420,680 $538,650 $651,050 $809,150
CHATHAM $420,680 $538,650 $651,050 $809,150
CHATTAHOOCHEE $420,680 $538,650 $651,050 $809,150
CHATTOOGA $420,680 $538,650 $651,050 $809,150
CHEROKEE $471,500 $603,600 $729,600 $906,750
CLARKE $457,700 $585,950 $708,250 $880,200
CLAY $420,680 $538,650 $651,050 $809,150
CLAYTON $471,500 $603,600 $729,600 $906,750
CLINCH $420,680 $538,650 $651,050 $809,150
COBB $471,500 $603,600 $729,600 $906,750
COFFEE $420,680 $538,650 $651,050 $809,150
COLQUITT $420,680 $538,650 $651,050 $809,150
COLUMBIA $420,680 $538,650 $651,050 $809,150
COOK $420,680 $538,650 $651,050 $809,150
COWETA $471,500 $603,600 $729,600 $906,750
CRAWFORD $420,680 $538,650 $651,050 $809,150
CRISP $420,680 $538,650 $651,050 $809,150
DADE $420,680 $538,650 $651,050 $809,150
DAWSON $471,500 $603,600 $729,600 $906,750
DECATUR $420,680 $538,650 $651,050 $809,150
DEKALB $471,500 $603,600 $729,600 $906,750
DODGE $420,680 $538,650 $651,050 $809,150
DOOLY $420,680 $538,650 $651,050 $809,150
DOUGHERTY $420,680 $538,650 $651,050 $809,150
DOUGLAS $471,500 $603,600 $729,600 $906,750
EARLY $420,680 $538,650 $651,050 $809,150
ECHOLS $420,680 $538,650 $651,050 $809,150
EFFINGHAM $420,680 $538,650 $651,050 $809,150
ELBERT $420,680 $538,650 $651,050 $809,150
EMANUEL $420,680 $538,650 $651,050 $809,150
EVANS $420,680 $538,650 $651,050 $809,150
FANNIN $420,680 $538,650 $651,050 $809,150
FAYETTE $471,500 $603,600 $729,600 $906,750
FLOYD $420,680 $538,650 $651,050 $809,150
FORSYTH $471,500 $603,600 $729,600 $906,750
FRANKLIN $420,680 $538,650 $651,050 $809,150
FULTON $471,500 $603,600 $729,600 $906,750
GILMER $420,680 $538,650 $651,050 $809,150
GLASCOCK $420,680 $538,650 $651,050 $809,150
GLYNN $420,680 $538,650 $651,050 $809,150
GORDON $420,680 $538,650 $651,050 $809,150
GRADY $420,680 $538,650 $651,050 $809,150
GREENE $515,200 $659,550 $797,250 $990,800
GWINNETT $471,500 $603,600 $729,600 $906,750
HABERSHAM $420,680 $538,650 $651,050 $809,150
HALL $420,680 $538,650 $651,050 $809,150
HANCOCK $420,680 $538,650 $651,050 $809,150
HARALSON $471,500 $603,600 $729,600 $906,750
HARRIS $420,680 $538,650 $651,050 $809,150
HART $420,680 $538,650 $651,050 $809,150
HEARD $471,500 $603,600 $729,600 $906,750
HENRY $471,500 $603,600 $729,600 $906,750
HOUSTON $420,680 $538,650 $651,050 $809,150
IRWIN $420,680 $538,650 $651,050 $809,150
JACKSON $420,680 $538,650 $651,050 $809,150
JASPER $471,500 $603,600 $729,600 $906,750
JEFF DAVIS $420,680 $538,650 $651,050 $809,150
JEFFERSON $420,680 $538,650 $651,050 $809,150
JENKINS $420,680 $538,650 $651,050 $809,150
JOHNSON $420,680 $538,650 $651,050 $809,150
JONES $420,680 $538,650 $651,050 $809,150
LAMAR $471,500 $603,600 $729,600 $906,750
LANIER $420,680 $538,650 $651,050 $809,150
LAURENS $420,680 $538,650 $651,050 $809,150
LEE $420,680 $538,650 $651,050 $809,150
LIBERTY $420,680 $538,650 $651,050 $809,150
LINCOLN $420,680 $538,650 $651,050 $809,150
LONG $420,680 $538,650 $651,050 $809,150
LOWNDES $420,680 $538,650 $651,050 $809,150
LUMPKIN $420,680 $538,650 $651,050 $809,150
MACON $420,680 $538,650 $651,050 $809,150
MADISON $457,700 $585,950 $708,250 $880,200
MARION $420,680 $538,650 $651,050 $809,150
MCDUFFIE $420,680 $538,650 $651,050 $809,150
MCINTOSH $420,680 $538,650 $651,050 $809,150
MERIWETHER $471,500 $603,600 $729,600 $906,750
MILLER $420,680 $538,650 $651,050 $809,150
MITCHELL $420,680 $538,650 $651,050 $809,150
MONROE $420,680 $538,650 $651,050 $809,150
MONTGOMERY $420,680 $538,650 $651,050 $809,150
MORGAN $471,500 $603,600 $729,600 $906,750
MURRAY $420,680 $538,650 $651,050 $809,150
MUSCOGEE $420,680 $538,650 $651,050 $809,150
NEWTON $471,500 $603,600 $729,600 $906,750
OCONEE $457,700 $585,950 $708,250 $880,200
OGLETHORPE $457,700 $585,950 $708,250 $880,200
PAULDING $471,500 $603,600 $729,600 $906,750
PEACH $420,680 $538,650 $651,050 $809,150
PICKENS $471,500 $603,600 $729,600 $906,750
PIERCE $420,680 $538,650 $651,050 $809,150
PIKE $471,500 $603,600 $729,600 $906,750
POLK $420,680 $538,650 $651,050 $809,150
PULASKI $420,680 $538,650 $651,050 $809,150
PUTNAM $420,680 $538,650 $651,050 $809,150
QUITMAN $420,680 $538,650 $651,050 $809,150
RABUN $420,680 $538,650 $651,050 $809,150
RANDOLPH $420,680 $538,650 $651,050 $809,150
RICHMOND $420,680 $538,650 $651,050 $809,150
ROCKDALE $471,500 $603,600 $729,600 $906,750
SCHLEY $420,680 $538,650 $651,050 $809,150
SCREVEN $420,680 $538,650 $651,050 $809,150
SEMINOLE $420,680 $538,650 $651,050 $809,150
SPALDING $471,500 $603,600 $729,600 $906,750
STEPHENS $420,680 $538,650 $651,050 $809,150
STEWART $420,680 $538,650 $651,050 $809,150
SUMTER $420,680 $538,650 $651,050 $809,150
TALBOT $420,680 $538,650 $651,050 $809,150
TALIAFERRO $420,680 $538,650 $651,050 $809,150
TATTNALL $420,680 $538,650 $651,050 $809,150
TAYLOR $420,680 $538,650 $651,050 $809,150
TELFAIR $420,680 $538,650 $651,050 $809,150
TERRELL $420,680 $538,650 $651,050 $809,150
THOMAS $420,680 $538,650 $651,050 $809,150
TIFT $420,680 $538,650 $651,050 $809,150
TOOMBS $420,680 $538,650 $651,050 $809,150
TOWNS $420,680 $538,650 $651,050 $809,150
TREUTLEN $420,680 $538,650 $651,050 $809,150
TROUP $420,680 $538,650 $651,050 $809,150
TURNER $420,680 $538,650 $651,050 $809,150
TWIGGS $420,680 $538,650 $651,050 $809,150
UNION $420,680 $538,650 $651,050 $809,150
UPSON $420,680 $538,650 $651,050 $809,150
WALKER $420,680 $538,650 $651,050 $809,150
WALTON $471,500 $603,600 $729,600 $906,750
WARE $420,680 $538,650 $651,050 $809,150
WARREN $420,680 $538,650 $651,050 $809,150
WASHINGTON $420,680 $538,650 $651,050 $809,150
WAYNE $420,680 $538,650 $651,050 $809,150
WEBSTER $420,680 $538,650 $651,050 $809,150
WHEELER $420,680 $538,650 $651,050 $809,150
WHITE $420,680 $538,650 $651,050 $809,150
WHITFIELD $420,680 $538,650 $651,050 $809,150
WILCOX $420,680 $538,650 $651,050 $809,150
WILKES $420,680 $538,650 $651,050 $809,150
WILKINSON $420,680 $538,650 $651,050 $809,150
WORTH $420,680 $538,650 $651,050 $809,150

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

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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.