Alexandria FHA Loan Rates, Closing Costs & Stats

ALEXANDRIA, LA

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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.

    Alexandria's 48 lenders originated 414 FHA loans during 2024. The total origination value was $81,120,000, with an average FHA loan value of $195,942.

    Alexandria FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Alexandria averaged 6.17% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Alexandria's average FHA mortgage closing costs are $7,037.

    The average rate for the prior week (2025-03-28) was 6.56% and one month ago for the week of 2025-02-28, the average rate was 6.55%.

    The average rate one year ago was 6.77%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.66%.

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

    Alexandria 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 Alexandria level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Red River Bank 80 6.10% $7,141
    UNITED WHOLESALE MORTGAGE, LLC 49 6.28% $9,632
    TOWNE MORTGAGE COMPANY 35 6.15% $10,624
    PRIMARY RESIDENTIAL MORTGAGE, INC. 26 6.97% $7,715
    GUILD MORTGAGE COMPANY 26 6.57% $8,865
    DHI MORTGAGE COMPANY, LTD. 24 4.95% $7,639
    QUICKEN LOANS, LLC 23 6.57% $8,377
    GMFS LLC 21 6.48% $6,247
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 6.63% $8,625
    Equity Prime Mortgage LLC 13 6.88% $9,429
    FREEDOM MORTGAGE CORPORATION 9 6.39% $12,531
    Sabine State Bank and Trust Company 7 6.11% $8,175
    BROKER SOLUTIONS, INC. 5 6.80% $9,082
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 4 6.22% $6,622
    PENNYMAC LOAN SERVICES, LLC 3 6.08% $6,473
    HOMESIDE FINANCIAL, LLC 3 6.83% $8,595
    AMERISAVE MORTGAGE CORPORATION 3 6.46% $8,634
    NEWREZ LLC 3 5.92% $10,712
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.19% $8,702
    JPMorgan Chase Bank 2 6.25% $6,097
    PLANET HOME LENDING, LLC 2 6.31% $4,556
    LOANDEPOT.COM, LLC 2 6.75% $12,043
    Magnolia Bank 2 6.50% $8,043
    Mortgage Research Center, LLC 2 7.19% $3,992
    Hancock Whitney Bank 2 6.13% $7,489
    Flagstar Bank, FSB 2 6.25% $9,339
    FIRST COMMUNITY MORTGAGE, INC. 2 6.56% $12,419
    UNION HOME MORTGAGE CORP. 2 6.31% $9,549
    Towne Bank 2 6.63% $8,475
    ZILLOW HOME LOANS, LLC 1 6.00% $11,512
    Assurance Financial Group, L.L.C. 1 7.75% $8,281
    BancorpSouth 1 6.63% $6,555
    CARDINAL FINANCIAL 1 6.75% $14,645
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $7,694
    FIDELITY BANK 1 6.19% $6,578
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $6,948
    Mr. Cooper ( Nationstar Mortgage ) 1 7.13% $8,166
    Nations Lending Corporation 1 6.75% $10,202
    NEW DAY FINANCIAL, LLC 1 7.50% $4,127
    Paramount Residential Mortgage Group, Inc. 1 6.63% $5,590
    Plains Commerce Bank 1 6.63% $9,918
    PLAZA HOME MORTGAGE, INC. 1 8.25% $7,088
    PREMIA MORTGAGE, LLC 1 6.25% $8,993
    Presidential Bank, FSB 1 6.63% $9,409
    SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.75% $7,128
    STANDARD MORTGAGE CORPORATION 1 5.50% $10,088
    SUN WEST MORTGAGE COMPANY, INC. 1 7.75% $7,124
    TIB The Independent Bankersbank 1 6.50% $10,765

    The top Alexandria FHA lender as defined by loan originations is Red River Bank, with 80 FHA loans originated. Their average total fees are $7,141, which is $2,491 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Alexandria FHA lenders (with over 10 loans originated) are GMFS LLC ($6,247), Red River Bank ($7,141), DHI MORTGAGE COMPANY, LTD. ($7,639), PRIMARY RESIDENTIAL MORTGAGE, INC. ($7,715) and QUICKEN LOANS, LLC ($8,377).

    The lowest rate Alexandria FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.95%), Red River Bank (6.10%), TOWNE MORTGAGE COMPANY (6.15%), UNITED WHOLESALE MORTGAGE, LLC (6.28%) and GMFS LLC (6.48%).

    Alexandria FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    ALEXANDRIA, LA GRANT 2022 $420,680 $538,650 $651,050 $809,150
    ALEXANDRIA, LA RAPIDES 2022 $420,680 $538,650 $651,050 $809,150
    ALEXANDRIA, LA GRANT 2023 $472,030 $604,400 $730,525 $907,900
    ALEXANDRIA, LA RAPIDES 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Alexandria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $187,000 (1.5%) $234,593 (6.9%) 0.69 463
    2018-02-01 $189,800 (8.3%) $237,355 (7.8%) 0.69 473
    2018-03-01 $184,000 (5.1%) $229,268 (3.8%) 0.65 470
    2018-04-01 $181,625 (3.8%) $222,694 (2.5%) 0.62 491
    2018-05-01 $179,850 (2.2%) $219,716 (-2.4%) 0.60 501
    2018-06-01 $180,000 (0.2%) $219,782 (-4.9%) 0.60 531
    2018-07-01 $179,000 (1.1%) $219,039 (-6.2%) 0.60 540
    2018-08-01 $179,000 (-0.5%) $223,269 (-5.5%) 0.60 524
    2018-09-01 $180,000 (-0.4%) $225,496 (-6.0%) 0.61 539
    2018-10-01 $179,700 (-0.1%) $223,787 (-6.5%) 0.61 526
    2018-11-01 $174,975 (-3.2%) $215,347 (-8.8%) 0.59 523
    2018-12-01 $174,950 (-2.8%) $218,089 (-5.3%) 0.60 491
    2019-01-01 $179,700 (-3.9%) $226,000 (-3.7%) 0.62 470
    2019-02-01 $182,850 (-3.7%) $223,305 (-5.9%) 0.62 470
    2019-03-01 $188,214 (2.3%) $226,346 (-1.3%) 0.62 462
    2019-04-01 $195,700 (7.8%) $233,174 (4.7%) 0.62 462
    2019-05-01 $194,000 (7.9%) $234,641 (6.8%) 0.61 487
    2019-06-01 $199,900 (11.1%) $234,806 (6.8%) 0.62 529
    2019-07-01 $199,075 (11.2%) $230,567 (5.3%) 0.62 536
    2019-08-01 $192,682 (7.6%) $228,999 (2.6%) 0.62 518
    2019-09-01 $186,955 (3.9%) $229,346 (1.7%) 0.60 498
    2019-10-01 $186,336 (3.7%) $229,828 (2.7%) 0.60 482
    2019-11-01 $186,000 (6.3%) $226,779 (5.3%) 0.61 448
    2019-12-01 $179,900 (2.8%) $222,794 (2.2%) 0.60 467
    2020-01-01 $179,923 (0.1%) $217,930 (-3.6%) 0.60 459
    2020-02-01 $184,642 (1.0%) $217,608 (-2.6%) 0.60 477
    2020-03-01 $188,675 (0.2%) $226,469 (0.1%) 0.59 406
    2020-04-01 $189,850 (-3.0%) $229,766 (-1.5%) 0.59 369
    2020-05-01 $198,650 (2.4%) $243,799 (3.9%) 0.61 321
    2020-06-01 $213,950 (7.0%) $253,058 (7.8%) 0.63 287
    2020-07-01 $218,250 (9.6%) $259,816 (12.7%) 0.63 279
    2020-08-01 $219,250 (13.8%) $257,685 (12.5%) 0.63 286
    2020-09-01 $225,000 (20.4%) $266,897 (16.4%) 0.64 243
    2020-10-01 $231,900 (24.5%) $275,747 (20.0%) 0.66 235
    2020-11-01 $221,750 (19.2%) $267,526 (18.0%) 0.65 238
    2020-12-01 $216,200 (20.2%) $264,179 (18.6%) 0.64 237
    2021-01-01 $210,000 (16.7%) $266,687 (22.4%) 0.63 211
    2021-02-01 $208,750 (13.1%) $269,592 (23.9%) 0.61 186
    2021-03-01 $183,425 (-2.8%) $245,878 (8.6%) 0.52 158
    2021-04-01 $162,425 (-14.5%) $236,108 (2.8%) 0.44 150
    2021-05-01 $159,850 (-19.5%) $235,660 (-3.3%) 0.42 128
    2021-06-01 $173,425 (-18.9%) $253,156 (0.0%) 0.46 158
    2021-07-01 $179,900 (-17.6%) $244,343 (-6.0%) 0.47 179
    2021-08-01 $171,950 (-21.6%) $231,459 (-10.2%) 0.47 181
    2021-09-01 $166,500 (-26.0%) $221,062 (-17.2%) 0.45 203
    2021-10-01 $169,900 (-26.7%) $223,879 (-18.8%) 0.45 193
    2021-11-01 $183,625 (-17.2%) $234,831 (-12.2%) 0.49 179
    2021-12-01 $185,000 (-14.4%) $230,580 (-12.7%) 0.50 180
    2022-01-01 $185,000 (-11.9%) $226,433 (-15.1%) 0.50 172
    2022-02-01 $187,750 (-10.1%) $233,677 (-13.3%) 0.49 170
    2022-03-01 $189,000 (3.0%) $232,657 (-5.4%) 0.48 156
    2022-04-01 $209,000 (28.7%) $238,543 (1.0%) 0.50 167
    2022-05-01 $222,950 (39.5%) $265,849 (12.8%) 0.51 199
    2022-06-01 $226,950 (30.9%) $273,374 (8.0%) 0.51 228
    2022-07-01 $224,900 (25.0%) $264,926 (8.4%) 0.51 261
    2022-08-01 $227,250 (32.2%) $273,258 (18.1%) 0.53 270
    2022-09-01 $220,475 (32.4%) $270,685 (22.5%) 0.52 268
    2022-10-01 $219,900 (29.4%) $266,021 (18.8%) 0.52 264
    2022-11-01 $222,000 (20.9%) $260,495 (10.9%) 0.53 269
    2022-12-01 $218,000 (17.8%) $253,079 (9.8%) 0.54 274
    2023-01-01 $199,950 (8.1%) $246,646 (8.9%) 0.50 263
    2023-02-01 $205,000 (9.2%) $250,193 (7.1%) 0.50 271
    2023-03-01 $208,500 (10.3%) $250,070 (7.5%) 0.49 273
    2023-04-01 $219,900 (5.2%) $256,745 (7.6%) 0.51 265
    2023-05-01 $222,625 (-0.2%) $268,425 (1.0%) 0.50 287
    2023-06-01 $235,350 (3.7%) $274,191 (0.3%) 0.53 301
    2023-07-01 $223,000 (-0.8%) $264,040 (-0.3%) 0.51 302
    2023-08-01 $220,000 (-3.2%) $253,154 (-7.4%) 0.51 353
    2023-09-01 $219,250 (-0.6%) $248,479 (-8.2%) 0.51 358
    2023-10-01 $221,875 (0.9%) $250,545 (-5.8%) 0.52 356
    2023-11-01 $228,725 (3.0%) $254,640 (-2.3%) 0.55 364
    2023-12-01 $223,950 (2.7%) $256,662 (1.4%) 0.55 371
    2024-01-01 $229,450 (14.8%) $262,022 (6.2%) 0.56 361
    2024-02-01 $229,000 (11.7%) $259,587 (3.8%) 0.55 363
    2024-03-01 $234,900 (12.7%) $268,628 (7.4%) 0.55 364
    2024-04-01 $234,975 (6.9%) $272,519 (6.1%) 0.55 369
    2024-05-01 $231,925 (4.2%) $273,095 (1.7%) 0.52 398
    2024-06-01 $229,900 (-2.3%) $268,702 (-2.0%) 0.52 426
    2024-07-01 $232,450 (4.2%) $277,624 (5.1%) 0.53 395
    2024-08-01 $229,950 (4.5%) $280,393 (10.8%) 0.53 374
    2024-09-01 $224,725 (2.5%) $272,989 (9.9%) 0.53 377
    2024-10-01 $229,900 (3.6%) $279,514 (11.6%) 0.54 377
    2024-11-01 $230,000 (0.6%) $290,276 (14.0%) 0.55 363
    2024-12-01 $230,000 (2.7%) $282,301 (10.0%) 0.57 361
    2025-01-01 $231,225 (0.8%) $285,746 (9.1%) 0.00 352
    2025-02-01 $237,000 (3.5%) $287,346 (10.7%) 0.00 338
    2025-03-01 $239,950 (2.2%) $296,158 (10.3%) 0.00 350
    Alexandria's median listing price for 2025-03-01 was $239,950, a difference of $5,050 (2.2%) versus the prior year and $2,950 versus the prior month.

    Alexandria's median listing price comes in at 0% of the national average.

    Alexandria's average listing price for 2025-03-01 was $296,158, a difference of $27,530 (10.3%) versus the prior year and $8,812 versus the prior month.

    For the 2025-03-01 period, Alexandria had 350 MLS listings, a difference of 12 listings (4%) versus the prior month and -14 listings (-4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Alexandria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 90 days 1,985 sqft
    2018-02-01 93 days 2,001 sqft
    2018-03-01 86 days 1,970 sqft
    2018-04-01 75 days 1,920 sqft
    2018-05-01 71 days 1,885 sqft
    2018-06-01 72 days 1,870 sqft
    2018-07-01 72 days 1,850 sqft
    2018-08-01 77 days 1,865 sqft
    2018-09-01 86 days 1,893 sqft
    2018-10-01 86 days 1,894 sqft
    2018-11-01 90 days 1,887 sqft
    2018-12-01 96 days 1,870 sqft
    2019-01-01 101 days 1,897 sqft
    2019-02-01 95 days 1,905 sqft
    2019-03-01 88 days 1,911 sqft
    2019-04-01 75 days 1,940 sqft
    2019-05-01 65 days 1,953 sqft
    2019-06-01 65 days 1,977 sqft
    2019-07-01 68 days 1,953 sqft
    2019-08-01 73 days 1,939 sqft
    2019-09-01 80 days 1,917 sqft
    2019-10-01 86 days 1,902 sqft
    2019-11-01 86 days 1,885 sqft
    2019-12-01 88 days 1,851 sqft
    2020-01-01 91 days 1,851 sqft
    2020-02-01 87 days 1,851 sqft
    2020-03-01 72 days 1,867 sqft
    2020-04-01 84 days 1,880 sqft
    2020-05-01 85 days 1,917 sqft
    2020-06-01 92 days 1,915 sqft
    2020-07-01 68 days 1,962 sqft
    2020-08-01 50 days 1,949 sqft
    2020-09-01 62 days 2,007 sqft
    2020-10-01 72 days 2,030 sqft
    2020-11-01 71 days 2,008 sqft
    2020-12-01 81 days 2,028 sqft
    2021-01-01 81 days 2,000 sqft
    2021-02-01 76 days 2,006 sqft
    2021-03-01 58 days 1,829 sqft
    2021-04-01 57 days 1,830 sqft
    2021-05-01 49 days 1,767 sqft
    2021-06-01 32 days 1,795 sqft
    2021-07-01 38 days 1,801 sqft
    2021-08-01 45 days 1,751 sqft
    2021-09-01 46 days 1,744 sqft
    2021-10-01 59 days 1,741 sqft
    2021-11-01 66 days 1,808 sqft
    2021-12-01 63 days 1,816 sqft
    2022-01-01 69 days 1,825 sqft
    2022-02-01 61 days 1,815 sqft
    2022-03-01 53 days 1,764 sqft
    2022-04-01 50 days 1,771 sqft
    2022-05-01 46 days 1,823 sqft
    2022-06-01 40 days 1,889 sqft
    2022-07-01 38 days 1,887 sqft
    2022-08-01 58 days 1,849 sqft
    2022-09-01 63 days 1,826 sqft
    2022-10-01 61 days 1,834 sqft
    2022-11-01 68 days 1,813 sqft
    2022-12-01 75 days 1,809 sqft
    2023-01-01 80 days 1,809 sqft
    2023-02-01 74 days 1,832 sqft
    2023-03-01 67 days 1,846 sqft
    2023-04-01 69 days 1,849 sqft
    2023-05-01 67 days 1,917 sqft
    2023-06-01 63 days 1,922 sqft
    2023-07-01 57 days 1,881 sqft
    2023-08-01 53 days 1,860 sqft
    2023-09-01 54 days 1,833 sqft
    2023-10-01 66 days 1,865 sqft
    2023-11-01 68 days 1,893 sqft
    2023-12-01 75 days 1,874 sqft
    2024-01-01 81 days 1,881 sqft
    2024-02-01 81 days 1,862 sqft
    2024-03-01 70 days 1,870 sqft
    2024-04-01 65 days 1,869 sqft
    2024-05-01 54 days 1,857 sqft
    2024-06-01 57 days 1,867 sqft
    2024-07-01 66 days 1,907 sqft
    2024-08-01 66 days 1,947 sqft
    2024-09-01 72 days 1,878 sqft
    2024-10-01 77 days 1,943 sqft
    2024-11-01 85 days 1,955 sqft
    2024-12-01 90 days 1,908 sqft
    2025-01-01 0 days 1,886 sqft
    2025-02-01 0 days 1,903 sqft
    2025-03-01 0 days 1,980 sqft
    Alexandria's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Alexandria's median square footage for active listings during the 2025-03-01 period was 1,980 sqft. One year prior, the average listing was 1,870 sqft.

    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).