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 -0.03% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

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

    The average rate for the prior week (2025-06-27) was 6.56% and one month ago for the week of 2025-05-30, the average rate was 6.93%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.21%.

    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

    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).