If you want to learn about the new FHA Loan Limits in Georgia, you’ve come to the right place.
Today, we’ll reveal and explain the updated 2024 FHA Loan Limits for The Peach State.
Unlike conforming loan limits, the Federal Housing Administration (FHA) sets its own loan limits.
In 2024, Georgia saw a nice increase to its FHA loan limits; these new limits are as follows:
- Single-family properties: $498,257
- Two-family properties: $637,950
- Three-family properties: $771,125
- Four-family properties: $958,350
Although it’s important to note that some counties in Georgia have higher FHA loan limits due to increased median home prices.
For example, Atlanta, Sandy Springs, and Alpharetta have the highest FHA loan limits in Georgia at $649,750 for single family, $831,800 for two family, $1,005,450 for three family, and $1,249,550 for four family.
Table of Contents
2024 FHA Loan Limits in Georgia By City & County
| MSA & City Name | County Name | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price |
|---|---|---|---|---|---|---|
| SAVANNAH, GA | BRYAN | $498,257 | $637,950 | $771,125 | $958,350 | $365,000 |
| NON-METRO | CLINCH | $498,257 | $637,950 | $771,125 | $958,350 | $69,000 |
| MACON-BIBB COUNTY, GA | CRAWFORD | $498,257 | $637,950 | $771,125 | $958,350 | $227,000 |
| NON-METRO | EVANS | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| GAINESVILLE, GA | HALL | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA | HARALSON | $649,750 | $831,800 | $1,005,450 | $1,249,550 | $565,000 |
| NON-METRO | JEFF DAVIS | $498,257 | $637,950 | $771,125 | $958,350 | $64,000 |
| NON-METRO | JEFFERSON | $498,257 | $637,950 | $771,125 | $958,350 | $58,000 |
| NON-METRO | JENKINS | $498,257 | $637,950 | $771,125 | $958,350 | $63,000 |
| VIDALIA, GA | MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $108,000 |
| COLUMBUS, GA-AL | STEWART | $498,257 | $637,950 | $771,125 | $958,350 | $277,000 |
| NON-METRO | TALIAFERRO | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
| NON-METRO | TATTNALL | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| NON-METRO | TAYLOR | $498,257 | $637,950 | $771,125 | $958,350 | $49,000 |
| WAYCROSS, GA | WARE | $498,257 | $637,950 | $771,125 | $958,350 | $109,000 |
| NON-METRO | WILKES | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| ALBANY, GA | WORTH | $498,257 | $637,950 | $771,125 | $958,350 | $224,000 |
| DOUGLAS, GA | ATKINSON | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| BRUNSWICK, GA | BRANTLEY | $498,257 | $637,950 | $771,125 | $958,350 | $300,000 |
| ST. MARYS, GA | CAMDEN | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| DOUGLAS, GA | COFFEE | $498,257 | $637,950 | $771,125 | $958,350 | $84,000 |
| MOULTRIE, GA | COLQUITT | $498,257 | $637,950 | $771,125 | $958,350 | $86,000 |
| NON-METRO | COOK | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| CORDELE, GA | CRISP | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA | FULTON | $649,750 | $831,800 | $1,005,450 | $1,249,550 | $565,000 |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA | HENRY | $649,750 | $831,800 | $1,005,450 | $1,249,550 | $565,000 |
| JEFFERSON, GA | JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $370,000 |
| VALDOSTA, GA | LANIER | $498,257 | $637,950 | $771,125 | $958,350 | $203,000 |
| ALBANY, GA | LEE | $498,257 | $637,950 | $771,125 | $958,350 | $224,000 |
| AUGUSTA-RICHMOND COUNTY, GA-SC | LINCOLN | $498,257 | $637,950 | $771,125 | $958,350 | $297,000 |
| NON-METRO | MITCHELL | $498,257 | $637,950 | $771,125 | $958,350 | $85,000 |
| COLUMBUS, GA-AL | MUSCOGEE | $498,257 | $637,950 | $771,125 | $958,350 | $277,000 |
| NON-METRO | PUTNAM | $498,257 | $637,950 | $771,125 | $958,350 | $265,000 |
| EUFAULA, AL-GA | QUITMAN | $498,257 | $637,950 | $771,125 | $958,350 | $128,000 |
| TOCCOA, GA | STEPHENS | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| NON-METRO | TELFAIR | $498,257 | $637,950 | $771,125 | $958,350 | $46,000 |
| ALBANY, GA | TERRELL | $498,257 | $637,950 | $771,125 | $958,350 | $224,000 |
| THOMASVILLE, GA | THOMAS | $498,257 | $637,950 | $771,125 | $958,350 | $176,000 |
| JESUP, GA | WAYNE | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| NON-METRO | WILCOX | $498,257 | $637,950 | $771,125 | $958,350 | $35,000 |
| MILLEDGEVILLE, GA | BALDWIN | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| NON-METRO | CALHOUN | $498,257 | $637,950 | $771,125 | $958,350 | $36,000 |
| SUMMERVILLE, GA | CHATTOOGA | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| ATHENS-CLARKE COUNTY, GA | CLARKE | $546,250 | $699,300 | $845,300 | $1,050,500 | $475,000 |
| NON-METRO | CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $68,000 |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA | COWETA | $649,750 | $831,800 | $1,005,450 | $1,249,550 | $565,000 |
| BAINBRIDGE, GA | DECATUR | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| NON-METRO | EARLY | $498,257 | $637,950 | $771,125 | $958,350 | $63,000 |
| VALDOSTA, GA | ECHOLS | $498,257 | $637,950 | $771,125 | $958,350 | $203,000 |
| ATLANTA-SANDY SPRINGS-ALPHARETTA, GA | FORSYTH | $649,750 | $831,800 | $1,005,450 | $1,249,550 | $565,000 |
What is the Max FHA Loan Amount Georgia?
In Georgia for 2024, the maximum FHA loan amounts are as follows:
- Single-family properties: $498,257
- Two-family properties: $637,950
- Three-family properties: $771,125
- Four-family properties: $958,350
Note that in high cost of living areas the max FHA loan amounts increase to:
- $649,750 for one family
- $831,800 for two family
- $1,005,450 for three family
- $1,249,550 for four family
What are the 2024 FHA Loan Limits Atlanta?
The city of Atlanta has the the highest FHA loan limits in Georgia, coming in at $649,750 for one family, $831,800 for two family, $1,005,450 for three family, and $1,249,550 for four family.
What are the 2024 FHA Loan Limits Fulton County GA?
The 2024 FHA loan limits for Fulton County, which includes Atlanta, Sandy Springs, and Alpharetta have the highest FHA loan limits in Georgia at $649,750 for single family, $831,800 for two family, $1,005,450 for three family, and $1,249,550 for four family.
What are the 2024 FHA Loan Limits Gwinnett County GA?
Gwinnett County is part of the Atlanta metropolitan area and is one of the most populous counties in the state. The 2024 FHA loan limits for Gwinnett County, Georgia are $649,750 for single family, $831,800 for two family, $1,005,450 for three family, and $1,249,550 for four family.
What Determines FHA Loan Limits?
FHA loan limits are determined individually for each county, primarily based on median home prices from the previous year.
The Federal Housing Finance Agency (FHFA) uses housing price data to set conforming loan limits for conventional loans.
The U.S. Department of Housing and Urban Development (HUD) then employs these limits to establish both a “floor” and a “ceiling” for FHA loans.
The “floor” represents the maximum loan amount available for FHA loans in most regions, calculated as 65% of the conforming loan limit.
In contrast, the “ceiling” applies to high-cost areas and can be as much as 150% of the conforming loan limit.
2024 Requirements for FHA Loan in Georgia
An FHA-backed loan provides homebuyers in Georgia with the opportunity to purchase a home with more lenient credit score requirements and a smaller down payment compared to conventional loan standards.
Here’s a general guide on how to qualify for an FHA loan in Georgia:
1. Credit Score Requirements
- Minimum Credit Score: Typically, a minimum credit score of 580 is required for an FHA loan, allowing a down payment as low as 3.5%.
- Lower Credit Scores: Applicants with credit scores between 500 and 579 may still be eligible but might need a down payment of at least 10%.
2. Down Payment
- Standard Down Payment: With a credit score of 580 or higher, a 3.5% down payment is standard.
- Gift Funds: FHA loans permit down payments using gift funds, subject to specific conditions and documentation.
3. Debt-to-Income Ratio (DTI)
- DTI Limits: Generally, your DTI should not exceed 43% to 45%, comparing your gross monthly income to your monthly debt obligations.
- Higher DTI Ratios: In some cases, lenders may accept higher DTI ratios if there are compensating factors, such as a higher credit score or larger down payment.
4. Mortgage Insurance
- Upfront and Annual Premiums: FHA loans require both upfront and annual mortgage insurance premiums (MIP). The upfront MIP can be rolled into the mortgage, while the annual MIP is paid monthly as part of your mortgage payment.
5. Property Requirements
- Primary Residence: The property must serve as your primary residence, not an investment property.
- FHA Appraisal: An FHA-approved appraiser must assess the property to ensure it meets specific safety, security, and structural integrity standards.
6. Employment History
- Stable Employment: Lenders generally prefer a stable employment history, usually two years with the same employer or in the same line of work.
7. Income Verification
- Proof of Income: Provide proof of income through pay stubs, tax returns, and W-2s.
- Consistent Income: The income should be consistent and expected to continue.
8. Loan Limits
- Adherence to Loan Limits: Ensure that the loan amount you seek falls within the FHA loan limits for your area in Georgia.
9. Additional Documentation
- Identification: A valid government-issued ID.
- Social Security Number: Required for all borrowers on the loan application.
- Additional Documents: Depending on the lender, other documentation may be necessary.
10. Lender Specific Requirements
- Lender Overlay: Some lenders may have additional ‘overlays’ or requirements beyond what the FHA mandates.
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About the Author
Brian Reese is a senior advisor and co-owner at District Lending. He is one of the world’s leading experts in veteran benefits, having helped millions of veterans secure their financial future since 2013. Brian is the founder VA Claims Insider, an education-based Coaching & Consulting company whose mission is to educate and empower veterans to get the VA disability benefits they’ve earned for their honorable service. A former active-duty air force officer, Brian deployed to Afghanistan in support of Operation Enduring Freedom. He is a distinguished graduate of management of the United States Air Force Academy and earned his MBA as a National Honor Scholar from the Spears School of Business at Oklahoma State University.
“As a military veteran, I’ve made it my life’s mission to help people live happier and wealthier lives. District Lending brings this mission to life. We believe in integrity, honesty, and transparency, which is why you’ll see our rates right on our website. You’ll find lower rates and zero lending fees, which means you can buy your dream home for less. The savings are passed on to you — the way it should be.”
– Brian Reese, Advisor and Co-Owner, District Lending
