Austin FHA Loan Rates, Closing Costs & Stats

AUSTIN-ROUND ROCK-GEORGETOWN, 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.

    Austin's 206 lenders originated 6,004 FHA loans during 2023. The total origination value was $2,219,440,000, with an average FHA loan value of $369,660.

    Austin FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Austin averaged 5.6% for the week of 2024-10-25, compared to the national average (all FHA variants) of 6.253% for the same period.

    Austin's average FHA mortgage closing costs are $10,272.

    The average rate for the prior week (2024-10-18) was 5.59% and one month ago for the week of 2024-09-20, the average rate was 5.21%.

    The average rate one year ago was 7.05%.

    For refis of the same type during the week of 2024-10-25, the average rate was 6.2%.

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

    Austin 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 Austin level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 733 5.30% $11,041
    EAGLE HOME MORTGAGE, LLC 565 5.25% $10,750
    VELOCIO MORTGAGE L.L.C. 328 5.61% $15,006
    CMG MORTGAGE, INC. 302 5.74% $17,392
    UNITED WHOLESALE MORTGAGE, LLC 302 6.23% $17,100
    LOANDEPOT.COM, LLC 267 6.21% $13,631
    KBHS HOME LOANS, LLC 259 5.87% $15,880
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 130 6.61% $14,213
    INSPIRE HOME LOANS INC. 123 5.46% $11,588
    South Pacific Financial Corporation 113 5.74% $12,275
    CORNERSTONE HOME LENDING, INC. 104 6.30% $17,513
    SFMC, LP 97 6.09% $17,644
    ADVISA MORTGAGE SERVICES, LTD. 97 6.00% $11,225
    QUICKEN LOANS, LLC 94 6.12% $15,299
    PULTE MORTGAGE LLC 79 5.88% $9,964
    EVERETT FINANCIAL, INC. 78 6.73% $12,436
    UNIVERSITY Federal Credit Union 74 6.07% $15,154
    GUILD MORTGAGE COMPANY 69 6.38% $15,318
    LOANPEOPLE, LLC 62 6.42% $17,285
    PRIMELENDING, A PLAINSCAPITAL COMPANY 58 6.54% $18,233
    PLAZA HOME MORTGAGE, INC. 58 6.02% $16,955
    SECURITYNATIONAL MORTGAGE COMPANY 54 6.86% $16,275
    MOVEMENT MORTGAGE, LLC 53 6.46% $18,032
    Paramount Residential Mortgage Group, Inc. 49 6.17% $15,672
    HOME FINANCING UNLIMITED, INC. 49 5.94% $14,680
    CITY FIRST MORTGAGE SERVICES, L.L.C. 48 6.76% $16,007
    THRIVE MORTGAGE, LLC 42 6.38% $16,656
    CROSSCOUNTRY MORTGAGE, LLC 41 6.64% $16,644
    JET HOMELOANS, LLC 39 5.79% $13,654
    BROKER SOLUTIONS, INC. 37 6.46% $16,828
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 36 6.50% $15,288
    CARDINAL FINANCIAL 36 6.26% $18,314
    NEWREZ LLC 33 6.28% $14,838
    FREEDOM MORTGAGE CORPORATION 33 6.50% $16,276
    M/I FINANCIAL, LLC 31 5.70% $23,182
    CLM MORTGAGE, INC 31 6.33% $14,979
    Equity Prime Mortgage LLC 30 6.76% $13,837
    Flagstar Bank, FSB 29 6.49% $15,168
    HOMEAMERICAN MORTGAGE CORPORATION 29 5.51% $6,969
    INTERLINC MORTGAGE SERVICES, LLC 27 7.12% $8,439
    Century Mortgage Company DBA Century Lending Company 26 6.33% $16,183
    GUARANTEED RATE, INC. 24 6.27% $15,329
    CALCON MUTUAL MORTGAGE LLC 24 6.82% $19,268
    AMERICAN FINANCIAL NETWORK, INC. 23 6.46% $16,749
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.30% $16,831
    BAY EQUITY LLC 20 6.34% $12,426
    GUARANTEED RATE AFFINITY, LLC 18 6.50% $13,884
    PENNYMAC LOAN SERVICES, LLC 17 5.94% $18,094
    First Bank 17 6.33% $16,158
    Network Funding, L.P. 16 6.21% $17,581
    GARDNER FINANCIAL SERVICES, LTD. 16 6.21% $21,312
    PRIORITY HOME MORTGAGE, L.P. 15 5.55% $11,516
    Waterstone Mortgage Corporation 15 6.62% $14,242
    MORTGAGE FINANCIAL SERVICES, LLC 15 6.63% $14,919
    Loan Simple, Inc. 15 6.77% $16,429
    AMCAP MORTGAGE, LTD. 14 6.58% $16,971
    Republic State Mortgage Co. 14 6.47% $14,620
    CANOPY MORTGAGE, LLC 14 6.43% $17,457
    Plains Commerce Bank 14 6.66% $17,300
    First United Bank and Trust Company 12 6.46% $15,010
    NATIONS RELIABLE LENDING, LLC 12 6.47% $15,771
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 12 6.74% $15,894
    NTFN, INC. 12 6.16% $16,433
    JPMorgan Chase Bank 11 6.53% $9,712
    SUN WEST MORTGAGE COMPANY, INC. 10 6.89% $13,716
    SWBC MORTGAGE CORPORATION 10 6.30% $11,961
    ZILLOW HOME LOANS, LLC 10 5.84% $14,233
    SeaTrust Mortgage Company 9 6.83% $14,747
    Carrington Mortgage Services, LLC 9 6.97% $20,001
    Gateway First Bank 9 6.75% $13,473
    Sunflower Bank 9 6.01% $17,102
    OCMBC, INC. 9 6.75% $16,974
    CRESTMARK MORTGAGE COMPANY, LTD. 9 6.40% $16,204
    BancorpSouth 8 6.05% $12,613
    Alcova Mortgage LLC 8 6.61% $11,101
    Assurance Financial Group, L.L.C. 8 6.23% $17,754
    NFM, INC. 8 6.94% $15,025
    Northpointe Bank 8 6.50% $17,048
    MID AMERICA MORTGAGE, INC. 8 7.13% $12,704
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.20% $15,792
    American Mortgage & Equity Consultants, Inc. 7 6.93% $16,189
    V.I.P. MORTGAGE, INC. 7 6.63% $19,857
    GENEVA FINANCIAL, LLC 7 7.14% $16,864
    HOMESIDE FINANCIAL, LLC 7 6.57% $15,027
    Nations Lending Corporation 6 6.17% $11,697
    CHURCHILL MORTGAGE CORPORATION 6 6.54% $15,302
    UNION HOME MORTGAGE CORP. 6 6.90% $17,125
    CORNERSTONE MORTGAGE PARTNERS OF TEXAS, L.P. 6 5.98% $14,175
    BM Real Estate Services, Inc. 6 6.15% $15,933
    HOMETRUST MORTGAGE COMPANY 5 5.98% $17,501
    Stride Bank 5 6.83% $14,132
    SENTE MORTGAGE, INC. 5 6.85% $18,703
    WILLOW BEND MORTGAGE COMPANY, LLC 5 6.40% $15,968
    Bank of England 5 6.63% $14,352
    T2 FINANCIAL LLC 5 6.20% $15,278
    Neighborhood Loans, Inc. 5 6.90% $16,021
    The Loan Store, Inc. 5 6.63% $16,185
    Encompass Lending Group, LP 5 6.43% $23,198
    TOWNE MORTGAGE COMPANY 4 5.88% $19,563
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 6.22% $13,277
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 6.88% $15,283
    FIRST CENTENNIAL MORTGAGE CORPORATION 4 6.75% $13,855
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 6.44% $21,266
    HOMEOWNERS FINANCIAL GROUP USA, LLC 4 6.16% $24,244
    Regions Bank 4 5.81% $13,886
    AXIA FINANCIAL, LLC 4 6.31% $16,092
    Mortgage Research Center, LLC 4 6.50% $11,606
    Wells Fargo Bank 4 6.41% $20,849
    First National Bank Texas 4 7.19% $13,151
    ON Q FINANCIAL, INC. 3 6.83% $16,306
    U.S. Bank 3 6.41% $15,829
    THE MORTGAGE LINK, INC. 3 6.38% $16,219
    VILLAGE CAPITAL MORTGAGE 3 6.83% $7,994
    FBC MORTGAGE, LLC 3 6.17% $18,315
    AHL FUNDING 3 6.92% $29,165
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 6.63% $15,233
    Citizens Bank 3 5.67% $17,837
    FIRST CONTINENTAL MORTGAGE, LTD. 3 5.63% $13,569
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.04% $19,719
    BECKAM FUNDING CORP. 3 6.92% $25,487
    GEO-CORP, INC. 3 7.29% $21,460
    LEGEND LENDING CORPORATION 3 7.13% $18,062
    RB MORTGAGE LLC 3 6.83% $13,047
    Town Square Mortgage & Investments, Inc. 3 6.83% $12,113
    JMAC LENDING, INC. 3 5.88% $21,048
    Golden Empire Mortgage, Inc. 2 7.69% $13,569
    American Bank of Commerce 2 6.00% $17,044
    AmeriHome Mortgage Company, LLC 2 6.31% $10,642
    AMERISAVE MORTGAGE CORPORATION 2 5.56% $21,548
    Bank of America 2 6.69% $10,657
    Barrington Bank & Trust Company, N.A. 2 5.75% $13,730
    BELEM SERVICING LLC 2 6.81% $18,135
    BNC National Bank 2 5.38% $11,276
    CASTLE & COOKE MORTGAGE, LLC 2 6.69% $18,481
    City Bank 2 6.38% $10,516
    ENVOY MORTGAGE, LTD 2 6.25% $16,296
    FIRST COMMUNITY MORTGAGE, INC. 2 6.19% $14,498
    Florida Capital Bank 2 6.13% $22,470
    FRONTIER FINANCIAL, INC. 2 7.00% $14,206
    ACADEMY MORTGAGE CORPORATION 2 5.75% $17,981
    Hamilton Mortgage Corporation 2 7.06% $10,735
    LAND HOME FINANCIAL SERVICES, INC. 2 7.00% $24,477
    MICHIGAN MUTUAL, INC. 2 6.13% $27,956
    Mr. Cooper ( Nationstar Mortgage ) 2 5.81% $22,264
    NBKC BANK 2 6.50% $12,394
    NEW FED MORTGAGE, CORP. 2 6.63% $16,228
    NexBank 2 6.19% $14,434
    PILGRIM MORTGAGE LLC 2 6.63% $10,110
    PINNACLE LENDING GROUP, INC. 2 6.50% $13,038
    PLANET HOME LENDING, LLC 2 7.00% $11,831
    Sierra Pacific Mortgage Company, Inc. 2 6.31% $13,736
    SUCCESS MORTGAGE PARTNERS, INC. 2 6.38% $15,826
    The Federal Savings Bank 2 5.88% $15,485
    TOTAL MORTGAGE SERVICES, LLC 2 6.44% $14,387
    Vellum Mortgage, Inc. 2 5.87% $11,293
    VERITAS FUNDING, LLC 2 6.25% $12,376
    Wallick & Volk, Inc. 2 6.69% $15,234
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.00% $35,488
    RESIDENTIAL BANCORP 1 6.75% $18,969
    ROYAL UNITED MORTGAGE LLC 1 5.13% $18,519
    S1L, Inc. 1 5.63% $21,853
    MLB RESIDENTIAL LENDING, LLC 1 6.38% $18,948
    MEMBER FIRST MORTGAGE, LLC 1 6.75% $8,704
    MASON MCDUFFIE MORTGAGE CORPORATION 1 7.25% $17,894
    MANN FINANCIAL INC. 1 7.00% $17,276
    A&D Mortgage LLC 1 6.63% $20,720
    Simmons Bank 1 6.88% $12,585
    Magnolia Bank 1 6.25% $21,151
    LEADERONE FINANCIAL CORPORATION 1 7.50% $17,908
    Strong Home Mortgage, LLC 1 4.99% $10,133
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 6.99% $15,314
    SUMMIT FUNDING, INC. 1 7.88% $14,913
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $12,456
    LADERA LENDING, INC. 1 6.63% $15,726
    Inwood National Bank 1 6.13% $11,608
    HOME APPROVALS DIRECT, INC. 1 6.25% $12,388
    Texas Mortgage Lending, LLC 1 7.13% $17,804
    The Central Trust Bank 1 6.63% $11,663
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $9,423
    The Freedom Bank of Virginia 1 6.63% $12,499
    GSF Mortgage Corporation 1 5.63% $10,629
    First United Bank 1 6.25% $12,567
    First Savings Bank 1 5.75% $15,901
    Affiliated Bank 1 7.38% $11,901
    First Financial Bank 1 6.63% $10,011
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.49% $16,764
    Trinity Oaks Mortgage, LLC 1 6.00% $16,275
    DATA MORTGAGE, INC. 1 6.00% $18,027
    United Fidelity Funding Corp. 1 6.75% $22,448
    Commerce Home Mortgage, Inc. 1 7.63% $10,666
    UNIVERSAL LENDING CORPORATION 1 6.63% $17,495
    Colonial Savings, F.A. 1 7.63% $12,478
    BOKF 1 7.13% $14,153
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 6.00% $16,117
    Wolfe Financial, Inc 1 7.25% $14,904
    ARC HOME LLC 1 6.13% $19,715
    Wyndham Capital Mortgage, Inc. 1 5.25% $11,139
    AmRes Corporation 1 5.25% $10,143
    AMERITRUST MORTGAGE CORPORATION 1 6.50% $11,345
    PENTAGON FEDERAL CREDIT UNION 1 6.88% $13,136
    Prosperity Home Mortgage, LLC 1 5.25% $16,781
    PATRIOT MORTGAGE COMPANY 1 7.00% $12,264
    Origin Bank 1 6.00% $11,649
    Old National Bank 1 5.75% $10,827
    MY MORTGAGE, INC. 1 6.63% $19,023
    Renasant Bank 1 5.75% $23,548

    The top Austin FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 733 FHA loans originated. Their average total fees are $11,041, which is $290 higher than the next largest lender, EAGLE HOME MORTGAGE, LLC.

    The lowest fee Austin FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($6,969), INTERLINC MORTGAGE SERVICES, LLC ($8,439), JPMorgan Chase Bank ($9,712), PULTE MORTGAGE LLC ($9,964) and EAGLE HOME MORTGAGE, LLC ($10,750).

    The lowest rate Austin FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (5.25%), DHI MORTGAGE COMPANY, LTD. (5.30%), INSPIRE HOME LOANS INC. (5.46%), HOMEAMERICAN MORTGAGE CORPORATION (5.51%) and PRIORITY HOME MORTGAGE, L.P. (5.55%).

    Austin FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    AUSTIN-ROUND ROCK-GEORGETOWN, TX BASTROP 2022 $483,000 $618,300 $747,400 $928,850
    AUSTIN-ROUND ROCK-GEORGETOWN, TX CALDWELL 2022 $483,000 $618,300 $747,400 $928,850
    AUSTIN-ROUND ROCK-GEORGETOWN, TX HAYS 2022 $483,000 $618,300 $747,400 $928,850
    AUSTIN-ROUND ROCK-GEORGETOWN, TX TRAVIS 2022 $483,000 $618,300 $747,400 $928,850
    AUSTIN-ROUND ROCK-GEORGETOWN, TX WILLIAMSON 2022 $483,000 $618,300 $747,400 $928,850
    AUSTIN-ROUND ROCK-GEORGETOWN, TX BASTROP 2023 $571,550 $731,700 $884,450 $1,099,150
    AUSTIN-ROUND ROCK-GEORGETOWN, TX CALDWELL 2023 $571,550 $731,700 $884,450 $1,099,150
    AUSTIN-ROUND ROCK-GEORGETOWN, TX HAYS 2023 $571,550 $731,700 $884,450 $1,099,150
    AUSTIN-ROUND ROCK-GEORGETOWN, TX TRAVIS 2023 $571,550 $731,700 $884,450 $1,099,150
    AUSTIN-ROUND ROCK-GEORGETOWN, TX WILLIAMSON 2023 $571,550 $731,700 $884,450 $1,099,150

    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).