Abilene FHA Loan Rates, Closing Costs & Stats

ABILENE, TX

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Abilene's 67 lenders originated 516 FHA loans during 2024. The total origination value was $113,040,000, with an average FHA loan value of $219,070.

    Abilene FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Abilene averaged 0.38% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Abilene's average FHA mortgage closing costs are $7,612.

    The average rate for the prior week (2025-06-27) was 6.87% and one month ago for the week of 2025-05-30, the average rate was 6.54%.

    The average rate one year ago was 6.67%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.3%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Abilene FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Abilene level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    First Financial Bank 102 6.45% $9,011
    PRIMELENDING, A PLAINSCAPITAL COMPANY 63 6.69% $11,528
    SUCCESS MORTGAGE PARTNERS, INC. 29 7.16% $10,318
    MORTGAGE FINANCIAL SERVICES, LLC 28 6.95% $11,023
    SWBC MORTGAGE CORPORATION 25 6.62% $5,147
    City Bank 23 6.91% $8,730
    DHI MORTGAGE COMPANY, LTD. 20 5.10% $8,993
    SUMMIT FUNDING, INC. 20 6.67% $10,357
    UNITED WHOLESALE MORTGAGE, LLC 16 6.23% $9,351
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 15 7.07% $9,642
    FREEDOM MORTGAGE CORPORATION 10 5.90% $7,583
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 7.32% $11,019
    ENVOY MORTGAGE, LTD 9 6.90% $9,761
    Paramount Residential Mortgage Group, Inc. 8 6.66% $7,964
    AMERICAN PACIFIC MORTGAGE CORPORATION 7 6.77% $10,733
    QUICKEN LOANS, LLC 7 6.84% $9,834
    CARDINAL FINANCIAL 7 7.04% $14,156
    LOANDEPOT.COM, LLC 6 7.21% $7,389
    MEMBER FIRST MORTGAGE, LLC 5 6.55% $7,755
    Citizens Bank 4 6.69% $9,375
    T2 FINANCIAL LLC 4 6.06% $10,107
    Prosperity Bank 4 6.19% $8,905
    CROSSCOUNTRY MORTGAGE, LLC 4 6.61% $12,766
    EUSTIS AND AMERICAN MORTGAGE COMPANY 4 6.41% $6,948
    Plains Commerce Bank 3 7.00% $8,576
    PENNYMAC LOAN SERVICES, LLC 3 5.79% $10,172
    CMG MORTGAGE, INC. 3 6.58% $15,407
    GUARANTEED RATE, INC. 3 6.58% $13,498
    BROKER SOLUTIONS, INC. 2 7.63% $10,044
    American Mortgage Bank, LLC 2 6.31% $10,664
    AmeriHome Mortgage Company, LLC 2 6.38% $7,626
    CANOPY MORTGAGE, LLC 2 6.19% $10,683
    Equity Prime Mortgage LLC 2 7.50% $8,469
    GUILD MORTGAGE COMPANY 2 7.19% $10,304
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.50% $8,737
    MOVEMENT MORTGAGE, LLC 2 6.75% $13,151
    PLANET HOME LENDING, LLC 2 6.25% $8,028
    Prosperity Home Mortgage, LLC 2 5.87% $11,843
    Renasant Bank 2 6.94% $11,244
    SFMC, LP 2 6.75% $14,579
    SUN WEST MORTGAGE COMPANY, INC. 2 6.38% $13,099
    TEXAS TECH 2 5.88% $8,510
    NEWREZ LLC 1 6.13% $11,673
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.63% $10,333
    Fifth Third Bank 1 6.75% $6,998
    PHH Mortgage Corporation 1 7.13% $4,824
    DIRECTIONS EQUITY, LLC 1 6.25% $4,078
    ZILLOW HOME LOANS, LLC 1 7.25% $8,633
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $8,703
    Century Mortgage Company DBA Century Lending Company 1 5.88% $11,700
    The Central Trust Bank 1 7.13% $12,803
    Centennial Bank 1 7.00% $11,059
    UNION SQUARE 1 6.00% $9,405
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.50% $14,148
    AMERITRUST MORTGAGE CORPORATION 1 7.50% $7,730
    AMERICAN FINANCIAL NETWORK, INC. 1 6.75% $10,722
    BAY-VALLEY MORTGAGE GROUP 1 6.50% $9,724
    Sunflower Bank 1 6.13% $8,129
    Wallick & Volk, Inc. 1 7.00% $21,353
    Lakeview Community Capital, LLC 1 6.75% $6,432
    Loan Simple, Inc. 1 6.75% $13,888
    INTEGRITY MORTGAGE CORPORATION OF TEXAS 1 5.50% $12,085
    MICHIGAN MUTUAL, INC. 1 7.25% $11,858
    HOMESIDE FINANCIAL, LLC 1 7.63% $9,338
    Mortgage Research Center, LLC 1 8.00% $4,786
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.50% $4,397
    AMPLIFY 1 6.38% $9,381

    The top Abilene FHA lender as defined by loan originations is First Financial Bank, with 102 FHA loans originated. Their average total fees are $9,011, which is $2,517 lower than the next largest lender, PRIMELENDING, A PLAINSCAPITAL COMPANY.

    The lowest fee Abilene FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($5,147), FREEDOM MORTGAGE CORPORATION ($7,583), City Bank ($8,730), DHI MORTGAGE COMPANY, LTD. ($8,993) and First Financial Bank ($9,011).

    The lowest rate Abilene FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.10%), FREEDOM MORTGAGE CORPORATION (5.90%), UNITED WHOLESALE MORTGAGE, LLC (6.23%), First Financial Bank (6.45%) and SWBC MORTGAGE CORPORATION (6.62%).

    Abilene FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ABILENE, TX CALLAHAN 2022 $420,680 $538,650 $651,050 $809,150
    ABILENE, TX JONES 2022 $420,680 $538,650 $651,050 $809,150
    ABILENE, TX TAYLOR 2022 $420,680 $538,650 $651,050 $809,150
    ABILENE, TX CALLAHAN 2023 $472,030 $604,400 $730,525 $907,900
    ABILENE, TX JONES 2023 $472,030 $604,400 $730,525 $907,900
    ABILENE, TX TAYLOR 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).