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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.