Beaumont FHA Loan Rates, Closing Costs & Stats

BEAUMONT-PORT ARTHUR, TX

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).