Beaumont FHA Loan Rates, Closing Costs & Stats

BEAUMONT-PORT ARTHUR, 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.

    Beaumont's 128 lenders originated 1,820 FHA loans during 2021. The total origination value was $327,110,000, with an average FHA loan value of $179,731.

    Beaumont FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Beaumont averaged 6.24% for the week of 2023-01-27, compared to the national average (all FHA variants) of 6.186% for the same period.

    Beaumont's average FHA mortgage closing costs are $7,155.

    The average rate for the prior week (2023-01-20) was 6.02% and one month ago for the week of 2022-12-23, the average rate was 6.61%.

    The average rate one year ago was 4.1%.

    For refis of the same type during the week of 2023-01-27, the average rate was 6.09%.

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

    Beaumont 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 Beaumont level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    OPEN MORTGAGE, LLC 118 3.01% $8,033
    QUICKEN LOANS, LLC 111 2.76% $6,298
    GUILD MORTGAGE COMPANY 104 3.17% $9,267
    Republic State Mortgage Co. 92 3.16% $6,515
    FBC MORTGAGE, LLC 83 3.18% $8,114
    Gateway First Bank 72 3.52% $7,314
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 70 3.62% $8,280
    MID AMERICA MORTGAGE, INC. 65 3.57% $6,234
    GUARANTEED RATE, INC. 61 3.26% $9,138
    AMCAP MORTGAGE, LTD. 58 3.54% $9,056
    FREEDOM MORTGAGE CORPORATION 52 2.94% $6,842
    LAKEVIEW LOAN SERVICING, LLC 39 3.09% $4,828
    Magnolia Bank 32 2.88% $6,044
    UNITED WHOLESALE MORTGAGE, LLC 28 2.78% $6,910
    Town Square Mortgage & Investments, Inc. 27 3.46% $5,934
    Mr. Cooper ( Nationstar Mortgage ) 27 3.36% $3,013
    City Bank 26 2.98% $7,299
    AmeriHome Mortgage Company, LLC 24 2.89% $4,051
    Flagstar Bank, FSB 23 2.62% $7,799
    Citizens Bank 23 2.85% $6,861
    PENNYMAC LOAN SERVICES, LLC 22 3.33% $4,073
    Network Funding, L.P. 22 3.53% $9,018
    SOUTHWEST FUNDING, LP 18 3.47% $9,168
    PLAZA HOME MORTGAGE, INC. 16 3.09% $8,158
    CALIBER HOME LOANS, INC. 15 3.06% $7,183
    Lakeview Community Capital, LLC 15 3.33% $4,366
    Carrington Mortgage Services, LLC 13 3.39% $9,092
    DHI MORTGAGE COMPANY, LTD. 13 3.10% $9,438
    LHM FINANCIAL CORPORATION 13 2.89% $8,246
    HOMETRUST MORTGAGE COMPANY 12 3.56% $8,078
    CROSSCOUNTRY MORTGAGE, LLC 11 3.45% $9,197
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 10 2.69% $8,049
    AMERICAN FINANCIAL NETWORK, INC. 10 3.25% $12,292
    NEWREZ LLC 10 3.05% $3,749
    American Mortgage Bank, LLC 10 3.63% $8,980
    SECURITYNATIONAL MORTGAGE COMPANY 10 3.60% $7,663
    Equity Prime Mortgage LLC 10 3.68% $8,679
    EVERETT FINANCIAL, INC. 10 3.66% $6,544
    HOME POINT FINANCIAL CORPORATION 10 3.10% $7,481
    VILLAGE CAPITAL MORTGAGE 9 2.97% $2,910
    LOANDEPOT.COM, LLC 8 3.56% $8,004
    BROKER SOLUTIONS, INC. 7 2.76% $8,171
    ENVOY MORTGAGE, LTD 6 3.17% $9,093
    ACADEMY MORTGAGE CORPORATION 5 3.45% $7,688
    CORNERSTONE HOME LENDING, INC. 5 3.78% $9,185
    First Guaranty Mortgage Corporation 5 3.15% $6,166
    MORTGAGE FINANCIAL SERVICES, LLC 5 3.50% $7,307
    PLANET HOME LENDING, LLC 5 2.75% $7,347
    HOMEBRIDGE FINANCIAL SERVICES, INC. 5 3.28% $9,546
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.45% $8,882
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 3.38% $6,771
    CMG MORTGAGE, INC. 5 3.10% $11,808
    THRIVE MORTGAGE, LLC 4 3.13% $8,595
    SUN WEST MORTGAGE COMPANY, INC. 4 2.97% $7,767
    Barrington Bank & Trust Company, N.A. 4 3.28% $6,698
    GREAT WESTERN FINANCIAL SERVICES, INC. 4 3.63% $7,377
    GUARANTY HOME MORTGAGE CORPORATION 3 2.88% $8,124
    Colten Mortgage, LLC 3 3.46% $6,663
    SOUTHWEST STAGE FUNDING, LLC 3 3.21% $8,389
    Chickasaw Community Bank 3 3.38% $6,575
    MOVEMENT MORTGAGE, LLC 3 3.25% $9,850
    Mortgage Research Center, LLC 3 3.37% $3,970
    LEADERONE FINANCIAL CORPORATION 3 3.46% $7,774
    Priority Bank 3 2.46% $11,340
    INTERLINC MORTGAGE SERVICES, LLC 2 3.44% $7,960
    FLAT BRANCH MORTGAGE, INC. 2 3.06% $6,826
    JPMorgan Chase Bank 2 3.25% $2,200
    CRESCENT MORTGAGE COMPANY 2 2.50% $10,857
    MOUNTAIN WEST FINANCIAL, INC. 2 3.25% $8,498
    First Financial Bank 2 3.44% $8,170
    First Federal Bank 2 2.50% $6,354
    CITY FIRST MORTGAGE SERVICES, L.L.C. 2 4.06% $8,183
    WILLOW BEND MORTGAGE COMPANY, LLC 2 2.88% $9,530
    SWBC MORTGAGE CORPORATION 2 3.06% $8,573
    Nations Lending Corporation 2 2.94% $7,439
    BBVA USA 2 4.19% $5,961
    CERTAINTY HOME LOANS, LLC 2 3.25% $12,144
    ENDEAVOR CAPITAL, LLC. 2 2.88% $2,328
    OCEANSIDE MORTGAGE COMPANY 2 3.25% $2,853
    AMERISAVE MORTGAGE CORPORATION 2 3.19% $7,301
    Hometown Lenders, Inc. 2 3.69% $6,780
    NATIONS RELIABLE LENDING, LLC 2 3.50% $9,794
    ZILLOW HOME LOANS, LLC 1 2.50% $11,265
    ACOPIA, LLC 1 3.25% $5,145
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.25% $9,424
    AMERICAN FINANCING CORPORATION 1 2.75% $10,756
    AMERICA'S CHOICE HOME LOANS LP 1 3.25% $8,058
    ASPIRE FINANCIAL, INC. 1 2.75% $5,886
    Assurance Financial Group, L.L.C. 1 4.38% $13,749
    Austin Capital Bank SSB 1 3.63% $18,472
    Bank of America 1 2.25% $1,621
    CHERRY CREEK MORTGAGE, LLC 1 3.38% $5,532
    Colonial Savings, F.A. 1 2.75% $6,620
    CONTOUR MORTGAGE CORPORATION 1 3.13% $7,752
    DAS Acquisition Company, LLC 1 3.25% $8,294
    DIRECTIONS EQUITY, LLC 1 3.75% $9,249
    EMBRACE HOME LOANS, INC. 1 2.88% $6,473
    EMM LOANS LLC 1 3.00% $10,202
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 2.50% $4,895
    EVANSVILLE TEACHERS 1 2.75% $8,461
    First National Bank Texas 1 2.50% $11,460
    First Savings Bank 1 2.38% $19,866
    GIBRALTAR MORTGAGE SERVICES, LLC 1 3.50% $10,656
    GUARANTEED RATE AFFINITY, LLC 1 2.25% $6,596
    Hometown Equity Mortgage, LLC 1 4.50% $10,907
    InterContinental Capital Group, Inc 1 3.25% $8,629
    JET HOMELOANS, LLC 1 2.99% $10,952
    LIBERTY HOME MORTGAGE CORPORATION 1 3.13% $13,005
    Loan Simple, Inc. 1 3.25% $7,983
    Low VA Rates, LLC 1 3.25% $3,807
    MICHIGAN MUTUAL, INC. 1 3.00% $10,230
    Midwest Mortgage Associates Corporation 1 2.63% $11,954
    MORIA DEVELOPMENT, INC. 1 3.75% $7,386
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 4.25% $13,408
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $9,429
    NBKC BANK 1 2.75% $7,515
    NTFN, INC. 1 3.25% $6,899
    Paramount Residential Mortgage Group, Inc. 1 4.25% $15,269
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.88% $6,130
    RANLIFE, INC. 1 2.75% $6,055
    S1L, Inc. 1 3.25% $14,317
    SFMC, LP 1 3.75% $9,201
    Stride Bank 1 3.63% $7,239
    SUCCESS MORTGAGE PARTNERS, INC. 1 4.13% $6,739
    SUMMIT FUNDING, INC. 1 3.00% $14,515
    Sunflower Bank 1 4.00% $8,653
    The Home Loan Expert LLC 1 3.50% $8,357
    V.I.P. MORTGAGE, INC. 1 3.00% $9,070

    The top Beaumont FHA lender as defined by loan originations is OPEN MORTGAGE, LLC, with 118 FHA loans originated. Their average total fees are $8,033, which is $1,735 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Beaumont FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($3,013), NEWREZ LLC ($3,749), AmeriHome Mortgage Company, LLC ($4,051), PENNYMAC LOAN SERVICES, LLC ($4,073) and Lakeview Community Capital, LLC ($4,366).

    The lowest rate Beaumont FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB (2.62%), CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP (2.69%), QUICKEN LOANS, LLC (2.76%), UNITED WHOLESALE MORTGAGE, LLC (2.78%) and Citizens Bank (2.85%).

    Beaumont FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BEAUMONT-PORT ARTHUR, TX HARDIN 2022 $420,680 $538,650 $651,050 $809,150
    BEAUMONT-PORT ARTHUR, TX JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
    BEAUMONT-PORT ARTHUR, TX ORANGE 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Beaumont (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 $159,575 (-3.2%) $213,688 (1.7%) 0.59 983
    2018-02-01 $157,975 (-6.7%) $219,818 (4.5%) 0.57 999
    2018-03-01 $155,450 (-9.6%) $212,592 (-0.3%) 0.55 980
    2018-04-01 $158,950 (-11.4%) $219,713 (-0.4%) 0.54 1,016
    2018-05-01 $165,000 (-8.1%) $226,631 (1.8%) 0.55 1,063
    2018-06-01 $172,500 (-3.6%) $229,262 (3.0%) 0.58 1,135
    2018-07-01 $175,500 (0.3%) $230,659 (7.5%) 0.59 1,219
    2018-08-01 $178,225 (1.9%) $230,175 (6.7%) 0.60 1,266
    2018-09-01 $178,950 (5.3%) $226,911 (4.1%) 0.60 1,260
    2018-10-01 $179,900 (7.5%) $225,210 (4.3%) 0.61 1,272
    2018-11-01 $177,450 (10.9%) $223,695 (5.0%) 0.60 1,256
    2018-12-01 $175,000 (9.6%) $226,253 (6.0%) 0.60 1,228
    2019-01-01 $174,950 (9.6%) $228,919 (7.1%) 0.60 1,206
    2019-02-01 $177,575 (12.4%) $229,363 (4.3%) 0.60 1,239
    2019-03-01 $184,014 (18.4%) $230,805 (8.6%) 0.60 1,301
    2019-04-01 $189,000 (18.9%) $232,648 (5.9%) 0.60 1,336
    2019-05-01 $189,900 (15.1%) $234,024 (3.3%) 0.59 1,320
    2019-06-01 $190,000 (10.1%) $234,258 (2.2%) 0.59 1,358
    2019-07-01 $191,625 (9.2%) $231,636 (0.4%) 0.60 1,418
    2019-08-01 $190,818 (7.1%) $230,072 (0.0%) 0.60 1,455
    2019-09-01 $192,045 (7.3%) $231,243 (1.9%) 0.61 1,435
    2019-10-01 $192,864 (7.2%) $231,227 (2.7%) 0.62 1,421
    2019-11-01 $189,900 (7.0%) $229,023 (2.4%) 0.62 1,378
    2019-12-01 $184,950 (5.7%) $228,784 (1.1%) 0.62 1,328
    2020-01-01 $187,250 (7.0%) $231,449 (1.1%) 0.63 1,246
    2020-02-01 $185,950 (4.7%) $231,552 (1.0%) 0.61 1,244
    2020-03-01 $189,450 (3.0%) $236,089 (2.3%) 0.59 1,232
    2020-04-01 $194,900 (3.1%) $238,113 (2.4%) 0.61 1,202
    2020-05-01 $199,000 (4.8%) $243,593 (4.1%) 0.60 1,224
    2020-06-01 $202,725 (6.7%) $246,383 (5.2%) 0.60 1,332
    2020-07-01 $206,904 (8.0%) $247,865 (7.0%) 0.60 1,314
    2020-08-01 $209,900 (10.0%) $250,897 (9.1%) 0.60 1,262
    2020-09-01 $214,000 (11.4%) $250,593 (8.4%) 0.61 1,161
    2020-10-01 $210,000 (8.9%) $249,891 (8.1%) 0.60 1,163
    2020-11-01 $207,400 (9.2%) $248,189 (8.4%) 0.61 1,165
    2020-12-01 $200,000 (8.1%) $249,973 (9.3%) 0.59 1,075
    2021-01-01 $205,000 (9.5%) $251,270 (8.6%) 0.61 1,039
    2021-02-01 $207,850 (11.8%) $250,367 (8.1%) 0.60 1,060
    2021-03-01 $210,750 (11.2%) $255,874 (8.4%) 0.60 1,074
    2021-04-01 $220,000 (12.9%) $261,167 (9.7%) 0.60 1,025
    2021-05-01 $210,000 (5.5%) $256,561 (5.3%) 0.56 978
    2021-06-01 $212,450 (4.8%) $257,527 (4.5%) 0.56 997
    2021-07-01 $209,950 (1.5%) $255,919 (3.3%) 0.55 1,067
    2021-08-01 $205,063 (-2.3%) $252,251 (0.5%) 0.55 1,134
    2021-09-01 $210,000 (-1.9%) $259,851 (3.7%) 0.56 1,121
    2021-10-01 $210,000 (0.0%) $260,673 (4.3%) 0.56 1,128
    2021-11-01 $214,900 (3.6%) $264,313 (6.5%) 0.57 1,116
    2021-12-01 $210,000 (5.0%) $262,825 (5.1%) 0.57 1,059
    2022-01-01 $215,000 (4.9%) $273,961 (9.0%) 0.58 1,019
    2022-02-01 $219,940 (5.8%) $277,375 (10.8%) 0.57 1,006
    2022-03-01 $227,450 (7.9%) $280,700 (9.7%) 0.57 1,011
    2022-04-01 $237,000 (7.7%) $287,433 (10.1%) 0.57 1,006
    2022-05-01 $237,450 (13.1%) $296,525 (15.6%) 0.54 1,050
    2022-06-01 $236,769 (11.5%) $301,841 (17.2%) 0.53 1,129
    2022-07-01 $229,900 (9.5%) $291,537 (13.9%) 0.52 1,298
    2022-08-01 $219,675 (7.1%) $284,068 (12.6%) 0.51 1,357
    2022-09-01 $219,300 (4.4%) $279,895 (7.7%) 0.51 1,410
    2022-10-01 $225,000 (7.1%) $284,331 (9.1%) 0.53 1,443
    2022-11-01 $228,400 (6.3%) $282,577 (6.9%) 0.55 1,481
    2022-12-01 $229,900 (9.5%) $278,059 (5.8%) 0.57 1,367
    Beaumont's median listing price for 2022-12-01 was $229,900, a difference of $19,900 (9.5%) versus the prior year and $1,500 versus the prior month.

    Beaumont's median listing price comes in at 57% of the national average.

    Beaumont's average listing price for 2022-12-01 was $278,059, a difference of $15,234 (5.8%) versus the prior year and $-4,518 versus the prior month.

    For the 2022-12-01 period, Beaumont had 1,367 MLS listings, a difference of -114 listings (-8%) versus the prior month and 308 listings (29%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Beaumont (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 66 days 2,047 sqft
    2018-02-01 62 days 2,042 sqft
    2018-03-01 55 days 2,023 sqft
    2018-04-01 49 days 2,001 sqft
    2018-05-01 47 days 1,991 sqft
    2018-06-01 50 days 1,980 sqft
    2018-07-01 53 days 1,981 sqft
    2018-08-01 53 days 1,957 sqft
    2018-09-01 57 days 1,957 sqft
    2018-10-01 61 days 1,975 sqft
    2018-11-01 65 days 1,956 sqft
    2018-12-01 71 days 1,945 sqft
    2019-01-01 73 days 1,951 sqft
    2019-02-01 65 days 1,958 sqft
    2019-03-01 53 days 1,980 sqft
    2019-04-01 48 days 2,004 sqft
    2019-05-01 56 days 2,007 sqft
    2019-06-01 59 days 1,995 sqft
    2019-07-01 55 days 1,995 sqft
    2019-08-01 58 days 1,981 sqft
    2019-09-01 61 days 1,978 sqft
    2019-10-01 64 days 1,971 sqft
    2019-11-01 68 days 1,963 sqft
    2019-12-01 75 days 1,953 sqft
    2020-01-01 82 days 1,956 sqft
    2020-02-01 75 days 1,947 sqft
    2020-03-01 59 days 1,960 sqft
    2020-04-01 64 days 1,986 sqft
    2020-05-01 71 days 1,986 sqft
    2020-06-01 56 days 1,983 sqft
    2020-07-01 52 days 1,979 sqft
    2020-08-01 61 days 2,006 sqft
    2020-09-01 75 days 2,004 sqft
    2020-10-01 73 days 2,001 sqft
    2020-11-01 62 days 1,967 sqft
    2020-12-01 63 days 1,947 sqft
    2021-01-01 65 days 1,949 sqft
    2021-02-01 59 days 1,949 sqft
    2021-03-01 56 days 1,962 sqft
    2021-04-01 53 days 1,971 sqft
    2021-05-01 51 days 1,913 sqft
    2021-06-01 47 days 1,913 sqft
    2021-07-01 43 days 1,872 sqft
    2021-08-01 46 days 1,861 sqft
    2021-09-01 52 days 1,901 sqft
    2021-10-01 55 days 1,896 sqft
    2021-11-01 54 days 1,897 sqft
    2021-12-01 62 days 1,874 sqft
    2022-01-01 64 days 1,880 sqft
    2022-02-01 49 days 1,881 sqft
    2022-03-01 44 days 1,881 sqft
    2022-04-01 43 days 1,895 sqft
    2022-05-01 40 days 1,881 sqft
    2022-06-01 40 days 1,886 sqft
    2022-07-01 44 days 1,875 sqft
    2022-08-01 47 days 1,853 sqft
    2022-09-01 58 days 1,841 sqft
    2022-10-01 60 days 1,857 sqft
    2022-11-01 61 days 1,897 sqft
    2022-12-01 72 days 1,902 sqft
    Beaumont's median listing age (time on market) for 2022-12-01 was 72 days. This is 16% longer than the same period one year ago.

    Beaumont's median square footage for active listings during the 2022-12-01 period was 1,902 sqft. One year prior, the average listing was 1,874 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).