Amarillo FHA Loan Rates, Closing Costs & Stats

AMARILLO, 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.

    Amarillo's 66 lenders originated 1,005 FHA loans during 2024. The total origination value was $225,565,000, with an average FHA loan value of $224,443.

    Amarillo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Amarillo averaged 6.23% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Amarillo's average FHA mortgage closing costs are $7,939.

    The average rate for the prior week (2025-03-28) was 6.63% and one month ago for the week of 2025-02-28, the average rate was 6.61%.

    The average rate one year ago was 6.63%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.15%.

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

    Amarillo 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 Amarillo level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Amarillo National Bank 115 6.29% $8,889
    ASSOCIATED MORTGAGE CORPORATION 84 6.26% $10,577
    EUSTIS AND AMERICAN MORTGAGE COMPANY 47 6.65% $10,884
    TEXAS TECH 45 6.17% $8,838
    Alliance Credit Union 42 6.27% $6,206
    NATIONS RELIABLE LENDING, LLC 41 6.50% $12,861
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 38 6.58% $8,769
    UNITED WHOLESALE MORTGAGE, LLC 32 5.98% $12,095
    GUILD MORTGAGE COMPANY 30 6.87% $10,282
    SECURITYNATIONAL MORTGAGE COMPANY 24 7.00% $11,398
    PRIMELENDING, A PLAINSCAPITAL COMPANY 24 6.58% $9,808
    THE MORTGAGE LINK, INC. 23 6.69% $16,073
    First United Bank 21 6.27% $8,818
    Centennial Bank 17 6.65% $9,222
    QUICKEN LOANS, LLC 17 6.39% $11,122
    CARDINAL FINANCIAL 15 6.55% $12,020
    FREEDOM MORTGAGE CORPORATION 13 6.30% $8,161
    Flagstar Bank, FSB 11 6.10% $11,133
    PREMIER LENDING, INC. 8 6.47% $13,130
    HOMETRUST MORTGAGE COMPANY 8 6.16% $10,535
    PLANET HOME LENDING, LLC 8 5.73% $6,093
    NEWREZ LLC 5 6.85% $9,558
    BROKER SOLUTIONS, INC. 5 6.95% $10,439
    DAS Acquisition Company, LLC 5 6.70% $11,652
    PENNYMAC LOAN SERVICES, LLC 5 6.40% $7,421
    UNION HOME MORTGAGE CORP. 4 6.38% $12,647
    Mortgage Research Center, LLC 4 6.63% $7,255
    LAKEVIEW LOAN SERVICING, LLC 4 6.72% $8,737
    Mr. Cooper ( Nationstar Mortgage ) 4 6.53% $6,606
    AMERICAN FINANCIAL NETWORK, INC. 3 7.58% $11,377
    CROSSCOUNTRY MORTGAGE, LLC 3 6.16% $10,078
    First National Bank Texas 3 7.00% $8,916
    CMG MORTGAGE, INC. 3 6.88% $16,335
    AmeriHome Mortgage Company, LLC 3 6.25% $6,444
    HOMESIDE FINANCIAL, LLC 3 6.42% $14,144
    Nations Lending Corporation 2 6.88% $14,784
    EVERETT FINANCIAL, INC. 2 6.56% $10,017
    Gateway First Bank 2 6.25% $9,407
    GUARANTEED RATE, INC. 2 6.85% $8,762
    Loan Simple, Inc. 2 7.13% $12,662
    Access Community Credit Union 2 6.25% $9,407
    NFM, INC. 2 7.06% $10,645
    PLAZA HOME MORTGAGE, INC. 2 6.31% $19,253
    U.S. Bank 2 6.75% $8,460
    VILLAGE CAPITAL MORTGAGE 2 7.25% $2,768
    INTELLILOAN, INC. 1 5.75% $6,480
    First Financial Bank 1 5.25% $10,086
    ZILLOW HOME LOANS, LLC 1 5.75% $11,007
    CORNERSTONE HOME LENDING, INC. 1 7.25% $15,445
    CHURCHILL MORTGAGE CORPORATION 1 7.13% $7,470
    CHARTER WEST BANK 1 6.25% $10,447
    Century Mortgage Company DBA Century Lending Company 1 6.99% $10,759
    SOUTHWEST FUNDING, LP 1 7.63% $17,043
    SOUTHWEST STAGE FUNDING, LLC 1 7.38% $5,009
    T2 FINANCIAL LLC 1 6.50% $8,552
    Barrington Bank & Trust Company, N.A. 1 7.25% $7,196
    AMERISAVE MORTGAGE CORPORATION 1 6.50% $23,648
    TOWNE MORTGAGE COMPANY 1 6.50% $8,146
    American Mortgage & Equity Consultants, Inc. 1 6.63% $9,318
    AHL FUNDING 1 6.25% $18,114
    UNIVERSITY Federal Credit Union 1 7.25% $10,514
    MLD MORTGAGE INC. 1 6.50% $8,893
    V.I.P. MORTGAGE, INC. 1 6.75% $8,964
    LOANDEPOT.COM, LLC 1 7.75% $16,488
    LEADERONE FINANCIAL CORPORATION 1 7.13% $14,811
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.99% $9,193

    The top Amarillo FHA lender as defined by loan originations is Amarillo National Bank, with 115 FHA loans originated. Their average total fees are $8,889, which is $1,689 lower than the next largest lender, ASSOCIATED MORTGAGE CORPORATION.

    The lowest fee Amarillo FHA lenders (with over 10 loans originated) are Alliance Credit Union ($6,206), FREEDOM MORTGAGE CORPORATION ($8,161), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,769), First United Bank ($8,818) and TEXAS TECH ($8,838).

    The lowest rate Amarillo FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.98%), Flagstar Bank, FSB (6.10%), TEXAS TECH (6.17%), ASSOCIATED MORTGAGE CORPORATION (6.26%) and First United Bank (6.27%).

    Amarillo FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    AMARILLO, TX ARMSTRONG 2022 $420,680 $538,650 $651,050 $809,150
    AMARILLO, TX CARSON 2022 $420,680 $538,650 $651,050 $809,150
    AMARILLO, TX OLDHAM 2022 $420,680 $538,650 $651,050 $809,150
    AMARILLO, TX POTTER 2022 $420,680 $538,650 $651,050 $809,150
    AMARILLO, TX RANDALL 2022 $420,680 $538,650 $651,050 $809,150
    AMARILLO, TX ARMSTRONG 2023 $472,030 $604,400 $730,525 $907,900
    AMARILLO, TX CARSON 2023 $472,030 $604,400 $730,525 $907,900
    AMARILLO, TX OLDHAM 2023 $472,030 $604,400 $730,525 $907,900
    AMARILLO, TX POTTER 2023 $472,030 $604,400 $730,525 $907,900
    AMARILLO, TX RANDALL 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Amarillo (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 $218,975 (9.5%) $298,124 (8.6%) 0.81 1,018
    2018-02-01 $225,250 (9.9%) $298,518 (9.3%) 0.82 1,023
    2018-03-01 $225,000 (6.2%) $303,151 (10.3%) 0.79 1,017
    2018-04-01 $231,450 (8.0%) $306,502 (8.4%) 0.78 1,016
    2018-05-01 $236,700 (8.7%) $309,283 (6.7%) 0.79 1,083
    2018-06-01 $238,900 (8.9%) $311,231 (7.4%) 0.80 1,144
    2018-07-01 $238,600 (8.5%) $310,106 (9.6%) 0.80 1,202
    2018-08-01 $236,200 (7.5%) $307,728 (8.5%) 0.79 1,215
    2018-09-01 $234,900 (9.3%) $306,618 (9.0%) 0.79 1,191
    2018-10-01 $234,850 (9.7%) $305,584 (7.4%) 0.80 1,235
    2018-11-01 $235,950 (10.0%) $302,984 (5.9%) 0.80 1,228
    2018-12-01 $233,613 (8.7%) $302,514 (3.2%) 0.81 1,194
    2019-01-01 $227,450 (3.9%) $294,602 (-1.2%) 0.79 1,137
    2019-02-01 $235,425 (4.5%) $299,480 (0.3%) 0.80 1,136
    2019-03-01 $240,286 (6.8%) $304,817 (0.6%) 0.79 1,127
    2019-04-01 $243,500 (5.2%) $305,551 (-0.3%) 0.77 1,116
    2019-05-01 $248,975 (5.2%) $314,697 (1.8%) 0.78 1,091
    2019-06-01 $244,950 (2.5%) $311,815 (0.2%) 0.77 1,140
    2019-07-01 $239,475 (0.4%) $312,099 (0.6%) 0.75 1,129
    2019-08-01 $239,616 (1.5%) $310,531 (0.9%) 0.76 1,103
    2019-09-01 $239,115 (1.8%) $306,885 (0.1%) 0.77 1,065
    2019-10-01 $237,363 (1.1%) $304,455 (-0.4%) 0.77 1,037
    2019-11-01 $234,700 (-0.5%) $306,651 (1.2%) 0.77 966
    2019-12-01 $229,450 (-1.8%) $302,064 (-0.2%) 0.77 937
    2020-01-01 $227,344 (-0.1%) $300,875 (2.1%) 0.76 862
    2020-02-01 $239,925 (1.9%) $317,160 (5.9%) 0.79 864
    2020-03-01 $260,372 (8.4%) $334,361 (9.7%) 0.82 808
    2020-04-01 $269,450 (10.7%) $333,321 (9.1%) 0.84 787
    2020-05-01 $279,000 (12.1%) $344,382 (9.4%) 0.85 771
    2020-06-01 $281,200 (14.8%) $353,522 (13.4%) 0.83 729
    2020-07-01 $279,472 (16.7%) $353,564 (13.3%) 0.81 665
    2020-08-01 $272,268 (13.6%) $351,797 (13.3%) 0.78 604
    2020-09-01 $274,950 (15.0%) $353,128 (15.1%) 0.79 594
    2020-10-01 $275,000 (15.9%) $355,429 (16.7%) 0.79 583
    2020-11-01 $279,800 (19.2%) $354,693 (15.7%) 0.82 571
    2020-12-01 $279,685 (21.9%) $360,706 (19.4%) 0.83 509
    2021-01-01 $275,900 (21.4%) $364,537 (21.2%) 0.82 459
    2021-02-01 $317,375 (32.3%) $412,383 (30.0%) 0.92 370
    2021-03-01 $334,875 (28.6%) $436,602 (30.6%) 0.95 330
    2021-04-01 $340,440 (26.4%) $440,938 (32.3%) 0.92 334
    2021-05-01 $325,250 (16.6%) $436,979 (26.9%) 0.86 305
    2021-06-01 $306,250 (8.9%) $406,486 (15.0%) 0.81 368
    2021-07-01 $299,700 (7.2%) $398,968 (12.8%) 0.79 402
    2021-08-01 $288,000 (5.8%) $396,877 (12.8%) 0.77 407
    2021-09-01 $288,450 (4.9%) $393,084 (11.3%) 0.77 405
    2021-10-01 $305,000 (10.9%) $402,139 (13.1%) 0.81 403
    2021-11-01 $313,500 (12.0%) $405,464 (14.3%) 0.84 383
    2021-12-01 $316,200 (13.1%) $410,301 (13.8%) 0.86 361
    2022-01-01 $315,200 (14.2%) $403,720 (10.8%) 0.85 316
    2022-02-01 $332,625 (4.8%) $426,390 (3.4%) 0.87 286
    2022-03-01 $336,000 (0.3%) $441,005 (1.0%) 0.84 251
    2022-04-01 $326,950 (-4.0%) $433,513 (-1.7%) 0.78 283
    2022-05-01 $322,000 (-1.0%) $407,502 (-6.8%) 0.74 342
    2022-06-01 $330,950 (8.1%) $394,456 (-3.0%) 0.74 407
    2022-07-01 $320,000 (6.8%) $382,496 (-4.1%) 0.72 481
    2022-08-01 $326,838 (13.5%) $381,309 (-3.9%) 0.76 507
    2022-09-01 $326,500 (13.2%) $383,139 (-2.5%) 0.76 501
    2022-10-01 $325,000 (6.6%) $374,577 (-6.9%) 0.76 526
    2022-11-01 $327,450 (4.5%) $377,437 (-6.9%) 0.79 562
    2022-12-01 $340,000 (7.5%) $379,130 (-7.6%) 0.84 550
    2023-01-01 $346,650 (10.0%) $386,446 (-4.3%) 0.86 541
    2023-02-01 $359,925 (8.2%) $394,745 (-7.4%) 0.87 554
    2023-03-01 $349,900 (4.1%) $393,769 (-10.7%) 0.83 566
    2023-04-01 $355,025 (8.6%) $404,331 (-6.7%) 0.83 592
    2023-05-01 $373,500 (16.0%) $421,912 (3.5%) 0.85 646
    2023-06-01 $375,396 (13.4%) $426,414 (8.1%) 0.84 698
    2023-07-01 $375,000 (17.2%) $424,902 (11.1%) 0.85 732
    2023-08-01 $368,870 (12.9%) $417,217 (9.4%) 0.85 735
    2023-09-01 $345,000 (5.7%) $422,409 (10.3%) 0.80 771
    2023-10-01 $335,500 (3.2%) $418,442 (11.7%) 0.79 808
    2023-11-01 $317,000 (-3.2%) $394,058 (4.4%) 0.75 882
    2023-12-01 $320,000 (-5.9%) $396,071 (4.5%) 0.78 891
    2024-01-01 $314,503 (-9.3%) $396,685 (2.7%) 0.77 872
    2024-02-01 $313,950 (-12.8%) $397,010 (0.6%) 0.76 876
    2024-03-01 $315,000 (-10.0%) $400,797 (1.8%) 0.74 882
    2024-04-01 $313,750 (-11.6%) $410,827 (1.6%) 0.73 882
    2024-05-01 $317,600 (-15.0%) $417,284 (-1.1%) 0.72 910
    2024-06-01 $315,000 (-16.1%) $417,349 (-2.1%) 0.72 971
    2024-07-01 $299,394 (-20.2%) $392,033 (-7.7%) 0.68 1,021
    2024-08-01 $299,000 (-18.9%) $382,087 (-8.4%) 0.70 1,023
    2024-09-01 $299,900 (-13.1%) $376,821 (-10.8%) 0.71 1,019
    2024-10-01 $293,875 (-12.4%) $373,967 (-10.6%) 0.69 1,045
    2024-11-01 $295,250 (-6.9%) $379,987 (-3.6%) 0.71 1,047
    2024-12-01 $298,250 (-6.8%) $381,274 (-3.7%) 0.74 1,033
    2025-01-01 $297,355 (-5.5%) $379,034 (-4.5%) 0.74 986
    2025-02-01 $290,747 (-7.4%) $378,316 (-4.7%) 0.71 1,029
    2025-03-01 $298,500 (-5.2%) $382,322 (-4.6%) 0.00 1,013
    Amarillo's median listing price for 2025-03-01 was $298,500, a difference of $-16,500 (-5.2%) versus the prior year and $7,753 versus the prior month.

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

    Amarillo's average listing price for 2025-03-01 was $382,322, a difference of $-18,475 (-4.6%) versus the prior year and $4,006 versus the prior month.

    For the 2025-03-01 period, Amarillo had 1,013 MLS listings, a difference of -16 listings (-2%) versus the prior month and 131 listings (15%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Amarillo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 70 days 2,067 sqft
    2018-02-01 48 days 2,085 sqft
    2018-03-01 48 days 2,094 sqft
    2018-04-01 53 days 2,123 sqft
    2018-05-01 51 days 2,137 sqft
    2018-06-01 47 days 2,147 sqft
    2018-07-01 52 days 2,140 sqft
    2018-08-01 53 days 2,137 sqft
    2018-09-01 57 days 2,132 sqft
    2018-10-01 59 days 2,121 sqft
    2018-11-01 61 days 2,119 sqft
    2018-12-01 71 days 2,115 sqft
    2019-01-01 68 days 2,106 sqft
    2019-02-01 45 days 2,106 sqft
    2019-03-01 51 days 2,113 sqft
    2019-04-01 58 days 2,122 sqft
    2019-05-01 60 days 2,136 sqft
    2019-06-01 60 days 2,122 sqft
    2019-07-01 59 days 2,114 sqft
    2019-08-01 59 days 2,118 sqft
    2019-09-01 60 days 2,104 sqft
    2019-10-01 63 days 2,090 sqft
    2019-11-01 68 days 2,059 sqft
    2019-12-01 74 days 2,030 sqft
    2020-01-01 71 days 2,033 sqft
    2020-02-01 56 days 2,054 sqft
    2020-03-01 53 days 2,147 sqft
    2020-04-01 54 days 2,179 sqft
    2020-05-01 56 days 2,220 sqft
    2020-06-01 50 days 2,258 sqft
    2020-07-01 52 days 2,240 sqft
    2020-08-01 51 days 2,225 sqft
    2020-09-01 44 days 2,226 sqft
    2020-10-01 45 days 2,212 sqft
    2020-11-01 43 days 2,216 sqft
    2020-12-01 54 days 2,211 sqft
    2021-01-01 63 days 2,197 sqft
    2021-02-01 40 days 2,393 sqft
    2021-03-01 37 days 2,485 sqft
    2021-04-01 30 days 2,520 sqft
    2021-05-01 32 days 2,487 sqft
    2021-06-01 24 days 2,217 sqft
    2021-07-01 31 days 2,204 sqft
    2021-08-01 34 days 2,162 sqft
    2021-09-01 38 days 2,097 sqft
    2021-10-01 41 days 2,142 sqft
    2021-11-01 44 days 2,160 sqft
    2021-12-01 47 days 2,132 sqft
    2022-01-01 46 days 2,125 sqft
    2022-02-01 33 days 2,221 sqft
    2022-03-01 31 days 2,234 sqft
    2022-04-01 22 days 2,164 sqft
    2022-05-01 22 days 2,138 sqft
    2022-06-01 27 days 2,143 sqft
    2022-07-01 31 days 2,103 sqft
    2022-08-01 37 days 2,129 sqft
    2022-09-01 40 days 2,136 sqft
    2022-10-01 45 days 2,148 sqft
    2022-11-01 44 days 2,156 sqft
    2022-12-01 51 days 2,160 sqft
    2023-01-01 54 days 2,147 sqft
    2023-02-01 41 days 2,165 sqft
    2023-03-01 45 days 2,120 sqft
    2023-04-01 44 days 2,145 sqft
    2023-05-01 42 days 2,190 sqft
    2023-06-01 42 days 2,204 sqft
    2023-07-01 45 days 2,197 sqft
    2023-08-01 48 days 2,167 sqft
    2023-09-01 47 days 2,118 sqft
    2023-10-01 50 days 2,101 sqft
    2023-11-01 52 days 2,059 sqft
    2023-12-01 57 days 2,053 sqft
    2024-01-01 62 days 2,036 sqft
    2024-02-01 47 days 2,033 sqft
    2024-03-01 48 days 2,040 sqft
    2024-04-01 52 days 2,011 sqft
    2024-05-01 47 days 2,064 sqft
    2024-06-01 51 days 2,053 sqft
    2024-07-01 52 days 1,984 sqft
    2024-08-01 53 days 1,972 sqft
    2024-09-01 56 days 1,953 sqft
    2024-10-01 58 days 1,960 sqft
    2024-11-01 64 days 1,977 sqft
    2024-12-01 72 days 1,999 sqft
    2025-01-01 68 days 1,989 sqft
    2025-02-01 48 days 2,002 sqft
    2025-03-01 0 days 2,023 sqft
    Amarillo'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.

    Amarillo's median square footage for active listings during the 2025-03-01 period was 2,023 sqft. One year prior, the average listing was 2,040 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).