Alice FHA Loan Rates, Closing Costs & Stats

Alice, 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.

    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 -0.09% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

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

    The average rate for the prior week (2024-11-08) was 6.72% and one month ago for the week of 2024-10-11, the average rate was 6.02%.

    The average rate one year ago was 7.57%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

    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
    2024-10-01 $225,000 (23.3%) $302,664 (23.7%) 0.00 143
    Alice's median listing price for 2024-10-01 was $225,000, a difference of $42,500 (23.3%) 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 2024-10-01 was $302,664, a difference of $57,949 (23.7%) versus the prior year and $8,366 versus the prior month.

    For the 2024-10-01 period, Alice had 143 MLS listings, a difference of 0 listings (0%) versus the prior month and 43 listings (43%) 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
    2024-10-01 0 days 1,615 sqft
    Alice's median listing age (time on market) for 2024-10-01 was 0 days.

    Alice's median square footage for active listings during the 2024-10-01 period was 1,615 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).