Alice FHA Loan Rates, Closing Costs & Stats

Alice, TX

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.

Alice's 36 lenders originated 90 FHA loans during 2023. The total origination value was $17,880,000, with an average FHA loan value of $198,667.

Alice FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Alice averaged 6% for the week of 2024-10-04, compared to the national average (all FHA variants) of 5.885% for the same period.

Alice's average FHA mortgage closing costs are $8,412.

The average rate for the prior week (2024-09-27) was 5.79% and one month ago for the week of 2024-08-30, the average rate was 6.35%.

The average rate one year ago was 7.19%.

For refis of the same type during the week of 2024-10-04, the average rate was 5.89%.

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

Alice 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 Alice level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
MOVEMENT MORTGAGE, LLC 13 6.48% $10,537
First National Bank Texas 7 6.55% $8,877
QUICKEN LOANS, LLC 5 6.30% $9,893
LOANDEPOT.COM, LLC 5 6.55% $12,109
AMCAP MORTGAGE, LTD. 5 7.13% $10,160
UNITED WHOLESALE MORTGAGE, LLC 5 6.95% $10,991
PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.63% $8,659
GUILD MORTGAGE COMPANY 3 6.96% $8,876
LEADERONE FINANCIAL CORPORATION 3 6.91% $11,114
ACADEMY MORTGAGE CORPORATION 2 5.88% $9,991
Gateway First Bank 2 7.38% $5,322
PILGRIM MORTGAGE LLC 2 7.38% $7,349
Loan Simple, Inc. 1 7.13% $15,508
Nations Lending Corporation 1 7.25% $8,876
PENNYMAC LOAN SERVICES, LLC 1 5.75% $12,724
Plains Commerce Bank 1 6.25% $15,015
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 8.13% $7,152
Prosperity Home Mortgage, LLC 1 7.13% $11,233
RB MORTGAGE LLC 1 6.63% $6,059
STOCKTON MORTGAGE CORPORATION 1 8.13% $7,244
SUN WEST MORTGAGE COMPANY, INC. 1 6.00% $11,087
THRIVE MORTGAGE, LLC 1 6.88% $19,176
UNION HOME MORTGAGE CORP. 1 7.63% $10,756
Wells Fargo Bank 1 5.50% $19,288
WILLOW BEND MORTGAGE COMPANY, LLC 1 6.75% $13,192
Ameris Bank 1 6.13% $10,305
BROKER SOLUTIONS, INC. 1 5.99% $11,233
CALCON MUTUAL MORTGAGE LLC 1 6.88% $18,329
CARDINAL FINANCIAL 1 7.75% $12,515
Centennial Bank 1 7.50% $9,868
CMG MORTGAGE, INC. 1 7.63% $19,779
CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $15,156
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $16,631
Flagstar Bank, FSB 1 6.25% $7,273
GARDNER FINANCIAL SERVICES, LTD. 1 6.63% $13,492
LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $12,949

The top Alice FHA lender as defined by loan originations is MOVEMENT MORTGAGE, LLC, with 13 FHA loans originated. Their average total fees are $10,537, which is $1,660 higher than the next largest lender, First National Bank Texas.

The lowest fee Alice FHA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC ($10,537), .

The lowest rate Alice FHA lenders (with over 10 loans originated) are MOVEMENT MORTGAGE, LLC (6.48%), .

Alice FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
ALICE, TX DUVAL 2022 $420,680 $538,650 $651,050 $809,150
ALICE, TX JIM WELLS 2022 $420,680 $538,650 $651,050 $809,150
ALICE, TX DUVAL 2023 $472,030 $604,400 $730,525 $907,900
ALICE, TX JIM WELLS 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Alice (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 $165,625 (20.0%) $202,972 (23.1%) 0.00 163
2018-02-01 $165,125 (10.1%) $207,033 (15.5%) 0.00 151
2018-03-01 $169,900 (9.4%) $218,552 (17.1%) 0.00 143
2018-04-01 $171,175 (10.2%) $223,459 (17.4%) 0.00 138
2018-05-01 $158,000 (2.7%) $206,997 (8.5%) 0.00 148
2018-06-01 $152,400 (-2.0%) $208,061 (8.5%) 0.00 154
2018-07-01 $150,125 (-2.3%) $205,852 (8.0%) 0.00 156
2018-08-01 $149,250 (-4.6%) $200,632 (5.4%) 0.00 161
2018-09-01 $149,000 (-0.6%) $193,155 (2.7%) 0.00 154
2018-10-01 $147,500 (1.8%) $189,109 (-3.4%) 0.00 147
2018-11-01 $129,370 (-14.3%) $182,136 (-8.5%) 0.00 138
2018-12-01 $146,000 (-10.4%) $187,684 (-6.9%) 0.00 127
2019-01-01 $147,875 (-10.7%) $191,715 (-5.6%) 0.00 123
2019-02-01 $140,725 (-14.8%) $198,482 (-4.1%) 0.00 118
2019-03-01 $142,900 (-15.9%) $199,896 (-8.5%) 0.00 118
2019-04-01 $146,925 (-14.2%) $197,658 (-11.6%) 0.00 118
2019-05-01 $149,300 (-5.5%) $197,994 (-4.4%) 0.00 123
2019-06-01 $140,900 (-7.6%) $183,956 (-11.6%) 0.00 111
2019-07-01 $142,550 (-5.1%) $181,782 (-11.7%) 0.00 108
2019-08-01 $154,386 (3.4%) $189,677 (-5.5%) 0.00 109
2019-09-01 $155,716 (4.5%) $194,359 (0.6%) 0.00 109
2019-10-01 $156,602 (6.2%) $197,480 (4.4%) 0.00 108
2019-11-01 $169,950 (31.4%) $201,332 (10.5%) 0.00 108
2019-12-01 $153,100 (4.9%) $191,970 (2.3%) 0.00 111
2020-01-01 $159,900 (8.1%) $193,893 (1.1%) 0.00 102
2020-02-01 $178,250 (26.7%) $209,247 (5.4%) 0.00 105
2020-03-01 $172,400 (20.6%) $203,804 (2.0%) 0.00 106
2020-04-01 $164,500 (12.0%) $197,063 (-0.3%) 0.00 117
2020-05-01 $169,000 (13.2%) $198,031 (0.0%) 0.00 108
2020-06-01 $185,950 (32.0%) $213,988 (16.3%) 0.00 92
2020-07-01 $190,675 (33.8%) $227,989 (25.4%) 0.00 84
2020-08-01 $189,900 (23.0%) $237,079 (25.0%) 0.00 86
2020-09-01 $212,500 (36.5%) $243,793 (25.4%) 0.00 81
2020-10-01 $199,700 (27.5%) $237,174 (20.1%) 0.00 82
2020-11-01 $188,925 (11.2%) $226,697 (12.6%) 0.00 74
2020-12-01 $190,975 (24.7%) $224,499 (16.9%) 0.00 76
2021-01-01 $188,000 (17.6%) $220,479 (13.7%) 0.00 71
2021-02-01 $177,450 (-0.5%) $218,566 (4.5%) 0.00 66
2021-03-01 $175,000 (1.5%) $204,702 (0.4%) 0.00 64
2021-04-01 $199,625 (21.4%) $213,748 (8.5%) 0.00 58
2021-05-01 $175,000 (3.6%) $202,367 (2.2%) 0.00 57
2021-06-01 $183,000 (-1.6%) $210,246 (-1.8%) 0.00 52
2021-07-01 $170,000 (-10.8%) $208,058 (-8.7%) 0.00 74
2021-08-01 $159,000 (-16.3%) $194,368 (-18.0%) 0.00 78
2021-09-01 $173,725 (-18.3%) $210,454 (-13.7%) 0.00 82
2021-10-01 $175,000 (-12.4%) $205,541 (-13.3%) 0.00 88
2021-11-01 $167,250 (-11.5%) $212,416 (-6.3%) 0.00 83
2021-12-01 $157,750 (-17.4%) $219,570 (-2.2%) 0.00 80
2022-01-01 $149,500 (-20.5%) $200,900 (-8.9%) 0.00 75
2022-02-01 $154,500 (-12.9%) $210,420 (-3.7%) 0.00 65
2022-03-01 $173,725 (-0.7%) $264,353 (29.1%) 0.00 68
2022-04-01 $163,000 (-18.4%) $224,469 (5.0%) 0.00 66
2022-05-01 $161,750 (-7.6%) $232,396 (14.8%) 0.00 69
2022-06-01 $175,000 (-4.4%) $239,441 (13.9%) 0.00 79
2022-07-01 $169,450 (-0.3%) $217,440 (4.5%) 0.00 87
2022-08-01 $169,700 (6.7%) $230,421 (18.6%) 0.00 96
2022-09-01 $169,225 (-2.6%) $227,970 (8.3%) 0.00 100
2022-10-01 $169,900 (-2.9%) $231,491 (12.6%) 0.00 102
2022-11-01 $167,850 (0.4%) $226,321 (6.6%) 0.00 108
2022-12-01 $159,500 (1.1%) $209,343 (-4.7%) 0.00 104
2023-01-01 $159,250 (6.5%) $207,109 (3.1%) 0.00 108
2023-02-01 $159,000 (2.9%) $209,001 (-0.7%) 0.00 106
2023-03-01 $159,250 (-8.3%) $211,338 (-20.1%) 0.00 98
2023-04-01 $175,000 (7.4%) $227,220 (1.2%) 0.00 90
2023-05-01 $198,075 (22.5%) $239,432 (3.0%) 0.00 97
2023-06-01 $182,475 (4.3%) $238,505 (-0.4%) 0.00 100
2023-07-01 $168,000 (-0.9%) $221,175 (1.7%) 0.00 92
2023-08-01 $169,450 (-0.2%) $224,527 (-2.6%) 0.00 98
2023-09-01 $174,900 (3.4%) $222,558 (-2.4%) 0.00 102
2023-10-01 $182,500 (7.4%) $244,715 (5.7%) 0.00 100
2023-11-01 $173,750 (3.5%) $238,548 (5.4%) 0.00 104
2023-12-01 $187,000 (17.2%) $259,403 (23.9%) 0.00 109
2024-01-01 $185,000 (16.2%) $261,573 (26.3%) 0.00 107
2024-02-01 $184,375 (16.0%) $233,940 (11.9%) 0.00 109
2024-03-01 $209,500 (31.6%) $249,886 (18.2%) 0.00 104
2024-04-01 $219,925 (25.7%) $273,213 (20.2%) 0.00 109
2024-05-01 $219,950 (11.0%) $281,991 (17.8%) 0.00 113
2024-06-01 $229,500 (25.8%) $297,472 (24.7%) 0.00 127
2024-07-01 $227,250 (35.3%) $298,173 (34.8%) 0.00 135
2024-08-01 $225,000 (32.8%) $294,051 (31.0%) 0.00 139
2024-09-01 $225,000 (28.6%) $294,298 (32.2%) 0.00 143
Alice's median listing price for 2024-09-01 was $225,000, a difference of $50,100 (28.6%) versus the prior year and $0 versus the prior month.

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

Alice's average listing price for 2024-09-01 was $294,298, a difference of $71,740 (32.2%) versus the prior year and $247 versus the prior month.

For the 2024-09-01 period, Alice had 143 MLS listings, a difference of 4 listings (3%) versus the prior month and 41 listings (40%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Alice (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,885 sqft
2018-02-01 0 days 1,982 sqft
2018-03-01 0 days 2,100 sqft
2018-04-01 0 days 2,097 sqft
2018-05-01 0 days 1,932 sqft
2018-06-01 0 days 1,901 sqft
2018-07-01 0 days 1,823 sqft
2018-08-01 0 days 1,814 sqft
2018-09-01 0 days 1,788 sqft
2018-10-01 0 days 1,720 sqft
2018-11-01 0 days 1,708 sqft
2018-12-01 0 days 1,755 sqft
2019-01-01 0 days 1,746 sqft
2019-02-01 0 days 1,760 sqft
2019-03-01 0 days 1,760 sqft
2019-04-01 0 days 1,759 sqft
2019-05-01 0 days 1,806 sqft
2019-06-01 0 days 1,821 sqft
2019-07-01 0 days 1,794 sqft
2019-08-01 0 days 1,812 sqft
2019-09-01 0 days 1,848 sqft
2019-10-01 0 days 1,857 sqft
2019-11-01 0 days 1,820 sqft
2019-12-01 0 days 1,742 sqft
2020-01-01 0 days 1,759 sqft
2020-02-01 0 days 1,810 sqft
2020-03-01 0 days 1,805 sqft
2020-04-01 0 days 1,797 sqft
2020-05-01 0 days 1,785 sqft
2020-06-01 0 days 1,875 sqft
2020-07-01 0 days 2,027 sqft
2020-08-01 0 days 2,071 sqft
2020-09-01 0 days 2,106 sqft
2020-10-01 0 days 2,049 sqft
2020-11-01 0 days 1,857 sqft
2020-12-01 0 days 1,800 sqft
2021-01-01 0 days 1,775 sqft
2021-02-01 0 days 1,788 sqft
2021-03-01 0 days 1,757 sqft
2021-04-01 0 days 1,718 sqft
2021-05-01 0 days 1,632 sqft
2021-06-01 0 days 1,656 sqft
2021-07-01 0 days 1,716 sqft
2021-08-01 0 days 1,644 sqft
2021-09-01 0 days 1,690 sqft
2021-10-01 0 days 1,638 sqft
2021-11-01 0 days 1,711 sqft
2021-12-01 0 days 1,735 sqft
2022-01-01 0 days 1,512 sqft
2022-02-01 0 days 1,574 sqft
2022-03-01 0 days 1,632 sqft
2022-04-01 0 days 1,429 sqft
2022-05-01 0 days 1,496 sqft
2022-06-01 0 days 1,498 sqft
2022-07-01 0 days 1,490 sqft
2022-08-01 0 days 1,515 sqft
2022-09-01 0 days 1,580 sqft
2022-10-01 0 days 1,632 sqft
2022-11-01 0 days 1,602 sqft
2022-12-01 0 days 1,624 sqft
2023-01-01 0 days 1,550 sqft
2023-02-01 0 days 1,461 sqft
2023-03-01 0 days 1,446 sqft
2023-04-01 0 days 1,476 sqft
2023-05-01 0 days 1,508 sqft
2023-06-01 0 days 1,496 sqft
2023-07-01 0 days 1,503 sqft
2023-08-01 0 days 1,519 sqft
2023-09-01 0 days 1,495 sqft
2023-10-01 0 days 1,495 sqft
2023-11-01 0 days 1,487 sqft
2023-12-01 0 days 1,512 sqft
2024-01-01 0 days 1,514 sqft
2024-02-01 0 days 1,513 sqft
2024-03-01 0 days 1,542 sqft
2024-04-01 0 days 1,564 sqft
2024-05-01 0 days 1,593 sqft
2024-06-01 0 days 1,647 sqft
2024-07-01 0 days 1,662 sqft
2024-08-01 0 days 1,681 sqft
2024-09-01 0 days 1,610 sqft
Alice's median listing age (time on market) for 2024-09-01 was 0 days.

Alice's median square footage for active listings during the 2024-09-01 period was 1,610 sqft. One year prior, the average listing was 1,495 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).