FHA makes up 24.2% of Savannah originations, with Colony Bank and Wells Fargo leading FHA volume — comparing their MIP structures on $214,000 surfaces $906+ in first-year MIP cost differences. Always request side-by-side MIP schedules from both Colony Bank and Wells Fargo before choosing.
Savannah, Georgia: 2026 Market Data
📊 LOCAL MARKET DATA
- Median home price: $278,000
- Year-over-year price change: 4.8%
- FHA loan share: 24.2%
- Conventional loan share: 64.8%
- Property tax rate (Chatham County): 0.86%
- Top local lenders: Colony Bank, Wells Fargo, Chase
Data from U.S. Census Bureau, HMDA, county assessor
FHA Loans in Savannah: 2026 Market Snapshot
If you're weighing an FHA loan in Savannah, it helps to understand where the local market stands heading into 2026. The median home price here sits at $278,000, up 4.8% year over year, so buyers are working with steadily rising prices that affect how much home their budget will stretch to cover. FHA loans currently make up 24.2% of the local lending picture, while conventional loans account for the larger share at 64.8%. That tells you FHA financing is a meaningful path for many Savannah buyers, even if conventional loans remain more common overall. One local cost worth factoring into your monthly math is the Chatham County property tax rate of 0.86%, which applies to homes throughout the area. As you shop, it's wise to gather quotes from several lenders rather than settling on the first offer, since terms and fees can vary widely. Read the fine print on rates, points, and mortgage insurance before committing. An FHA loan can be a practical option for buyers with smaller down payments, but comparing your full picture against a conventional loan is always a smart step before you sign anything.
Median Loan Amount in Savannah: $214,000 and the Conforming Limit Question
A median loan amount around $214,000 puts most Savannah buyers comfortably under the FHA loan limit, which for the majority of Georgia counties in 2026 sits at $498,257. That means the conforming limit question rarely becomes a roadblock here unless you're chasing a higher-end home in the historic district or a renovated waterfront property on Tybee Island. The gap between a typical Savannah loan and the county ceiling gives buyers substantial room before bumping into jumbo territory. For most working families purchasing in Pooler, Wilmington Island, or the Southside, FHA financing covers the purchase price with no concern about exceeding limits. Where the limit matters is for move-up buyers and those eyeing premium coastal listings, since crossing into jumbo or high-balance loans changes the down payment math entirely. Before assuming you'll need anything beyond a standard FHA loan, confirm the current Chatham County limit with your lender, since these figures adjust annually with home price trends.
