Brenham FHA Loan Rates, Closing Costs & Stats

Brenham, 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.

    Brenham's 20 lenders originated 60 FHA loans during 2023. The total origination value was $15,810,000, with an average FHA loan value of $263,500.

    Brenham FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Brenham averaged 6.37% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Brenham's average FHA mortgage closing costs are $8,324.

    The average rate for the prior week (2024-04-12) was 6.26% and one month ago for the week of 2024-03-15, the average rate was 6.43%.

    The average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Brenham 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 Brenham level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 15 5.09% $8,716
    T2 FINANCIAL LLC 7 6.96% $11,078
    CROSSCOUNTRY MORTGAGE, LLC 4 7.44% $10,996
    CORNERSTONE HOME LENDING, INC. 3 6.71% $10,555
    Flagstar Bank, FSB 3 7.06% $10,278
    UNITED WHOLESALE MORTGAGE, LLC 3 6.63% $9,192
    CMG MORTGAGE, INC. 2 6.69% $12,402
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 7.00% $15,049
    NFM, INC. 2 6.94% $14,140
    The Loan Store, Inc. 1 5.25% $23,657
    BancorpSouth 1 6.00% $9,054
    V.I.P. MORTGAGE, INC. 1 6.50% $13,120
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $15,717
    GUILD MORTGAGE COMPANY 1 6.63% $16,231
    LEADERONE FINANCIAL CORPORATION 1 6.75% $10,640
    LIBERTY HOME MORTGAGE CORPORATION 1 6.75% $3,415
    Paramount Residential Mortgage Group, Inc. 1 6.75% $9,687
    PLAZA HOME MORTGAGE, INC. 1 5.75% $9,894
    QUICKEN LOANS, LLC 1 6.75% $10,481
    RANLIFE, INC. 1 7.00% $15,092

    The top Brenham FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 15 FHA loans originated. Their average total fees are $8,716, which is $2,361 lower than the next largest lender, T2 FINANCIAL LLC.

    The lowest fee Brenham FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,716), .

    The lowest rate Brenham FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.09%), .

    Brenham FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BRENHAM, TX WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
    BRENHAM, TX WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Brenham (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 $267,425 (22.0%) $346,875 (29.7%) 0.00 92
    2018-02-01 $255,425 (8.8%) $367,602 (38.0%) 0.00 87
    2018-03-01 $254,500 (5.6%) $400,915 (49.7%) 0.00 92
    2018-04-01 $277,250 (18.0%) $403,590 (48.7%) 0.00 103
    2018-05-01 $286,300 (22.5%) $384,049 (38.1%) 0.00 108
    2018-06-01 $301,950 (29.1%) $380,669 (25.4%) 0.00 108
    2018-07-01 $295,950 (23.5%) $365,357 (17.4%) 0.00 94
    2018-08-01 $274,700 (15.4%) $362,672 (17.6%) 0.00 96
    2018-09-01 $297,950 (24.7%) $368,686 (14.0%) 0.00 81
    2018-10-01 $279,900 (16.8%) $355,030 (12.0%) 0.00 81
    2018-11-01 $289,475 (16.1%) $351,907 (14.2%) 0.00 74
    2018-12-01 $269,000 (6.1%) $336,260 (5.8%) 0.00 72
    2019-01-01 $270,000 (1.0%) $376,592 (8.6%) 0.00 68
    2019-02-01 $274,875 (7.6%) $404,852 (10.1%) 0.00 71
    2019-03-01 $261,621 (2.8%) $391,833 (-2.3%) 0.00 77
    2019-04-01 $254,246 (-8.3%) $380,860 (-5.6%) 0.00 87
    2019-05-01 $249,600 (-12.8%) $377,258 (-1.8%) 0.00 86
    2019-06-01 $250,000 (-17.2%) $359,512 (-5.6%) 0.00 88
    2019-07-01 $295,733 (-0.1%) $383,708 (5.0%) 0.00 93
    2019-08-01 $299,079 (8.9%) $392,169 (8.1%) 0.00 92
    2019-09-01 $292,847 (-1.7%) $381,257 (3.4%) 0.00 83
    2019-10-01 $288,225 (3.0%) $369,844 (4.2%) 0.00 78
    2019-11-01 $275,000 (-5.0%) $388,013 (10.3%) 0.00 79
    2019-12-01 $276,000 (2.6%) $405,553 (20.6%) 0.00 76
    2020-01-01 $282,250 (4.5%) $409,928 (8.9%) 0.00 74
    2020-02-01 $299,000 (8.8%) $428,031 (5.7%) 0.00 73
    2020-03-01 $327,000 (25.0%) $447,883 (14.3%) 0.00 84
    2020-04-01 $301,488 (18.6%) $432,150 (13.5%) 0.00 90
    2020-05-01 $298,475 (19.6%) $427,603 (13.4%) 0.00 95
    2020-06-01 $279,000 (11.6%) $424,509 (18.1%) 0.00 85
    2020-07-01 $306,250 (3.6%) $431,662 (12.5%) 0.00 78
    2020-08-01 $291,000 (-2.7%) $399,694 (1.9%) 0.00 68
    2020-09-01 $297,750 (1.7%) $409,770 (7.5%) 0.00 66
    2020-10-01 $299,500 (3.9%) $398,116 (7.6%) 0.00 63
    2020-11-01 $282,250 (2.6%) $342,367 (-11.8%) 0.00 58
    2020-12-01 $282,600 (2.4%) $350,567 (-13.6%) 0.00 55
    2021-01-01 $299,000 (5.9%) $353,932 (-13.7%) 0.00 46
    2021-02-01 $272,869 (-8.7%) $333,340 (-22.1%) 0.00 55
    2021-03-01 $272,675 (-16.6%) $372,612 (-16.8%) 0.00 53
    2021-04-01 $302,500 (0.3%) $412,416 (-4.6%) 0.00 36
    2021-05-01 $310,000 (3.9%) $434,887 (1.7%) 0.00 25
    2021-06-01 $313,750 (12.5%) $434,407 (2.3%) 0.00 29
    2021-07-01 $318,000 (3.8%) $436,064 (1.0%) 0.00 30
    2021-08-01 $370,500 (27.3%) $460,196 (15.1%) 0.00 40
    2021-09-01 $374,000 (25.6%) $478,753 (16.8%) 0.00 52
    2021-10-01 $375,000 (25.2%) $475,049 (19.3%) 0.00 57
    2021-11-01 $329,000 (16.6%) $441,651 (29.0%) 0.00 52
    2021-12-01 $354,575 (25.5%) $429,218 (22.4%) 0.00 55
    2022-01-01 $344,000 (15.1%) $439,421 (24.2%) 0.00 47
    2022-02-01 $316,615 (16.0%) $422,495 (26.8%) 0.00 44
    2022-03-01 $299,375 (9.8%) $415,998 (11.6%) 0.00 41
    2022-04-01 $299,000 (-1.2%) $395,711 (-4.1%) 0.00 35
    2022-05-01 $320,723 (3.5%) $442,278 (1.7%) 0.00 45
    2022-06-01 $322,500 (2.8%) $449,000 (3.4%) 0.00 65
    2022-07-01 $327,000 (2.8%) $445,896 (2.3%) 0.00 77
    2022-08-01 $321,000 (-13.4%) $443,975 (-3.5%) 0.00 83
    2022-09-01 $336,225 (-10.1%) $472,914 (-1.2%) 0.00 88
    2022-10-01 $325,000 (-13.3%) $467,286 (-1.6%) 0.00 97
    2022-11-01 $319,925 (-2.8%) $444,336 (0.6%) 0.00 95
    2022-12-01 $319,700 (-9.8%) $453,637 (5.7%) 0.00 86
    2023-01-01 $320,985 (-6.7%) $454,017 (3.3%) 0.00 67
    2023-02-01 $326,338 (3.1%) $439,598 (4.1%) 0.00 69
    2023-03-01 $320,725 (7.1%) $445,181 (7.0%) 0.00 66
    2023-04-01 $322,893 (8.0%) $415,392 (5.0%) 0.00 71
    2023-05-01 $339,450 (5.8%) $411,920 (-6.9%) 0.00 69
    2023-06-01 $337,500 (4.7%) $438,153 (-2.4%) 0.00 91
    2023-07-01 $339,900 (3.9%) $458,017 (2.7%) 0.00 97
    2023-08-01 $338,950 (5.6%) $448,718 (1.1%) 0.00 102
    2023-09-01 $336,000 (-0.1%) $539,728 (14.1%) 0.00 101
    2023-10-01 $346,975 (6.8%) $540,902 (15.8%) 0.00 99
    2023-11-01 $349,950 (9.4%) $604,430 (36.0%) 0.00 94
    2023-12-01 $350,000 (9.5%) $603,350 (33.0%) 0.00 93
    2024-01-01 $346,170 (7.9%) $595,216 (31.1%) 0.00 89
    2024-02-01 $364,975 (11.8%) $642,235 (46.1%) 0.00 89
    2024-03-01 $341,250 (6.4%) $575,993 (29.4%) 0.00 100
    Brenham's median listing price for 2024-03-01 was $341,250, a difference of $20,525 (6.4%) versus the prior year and $-23,725 versus the prior month.

    Brenham's median listing price comes in at 0% of the national average.

    Brenham's average listing price for 2024-03-01 was $575,993, a difference of $130,812 (29.4%) versus the prior year and $-66,242 versus the prior month.

    For the 2024-03-01 period, Brenham had 100 MLS listings, a difference of 11 listings (12%) versus the prior month and 34 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Brenham (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,268 sqft
    2018-02-01 0 days 2,268 sqft
    2018-03-01 0 days 2,241 sqft
    2018-04-01 0 days 2,372 sqft
    2018-05-01 0 days 2,303 sqft
    2018-06-01 0 days 2,397 sqft
    2018-07-01 0 days 2,308 sqft
    2018-08-01 0 days 2,162 sqft
    2018-09-01 0 days 2,144 sqft
    2018-10-01 0 days 2,194 sqft
    2018-11-01 0 days 2,286 sqft
    2018-12-01 0 days 2,149 sqft
    2019-01-01 0 days 2,131 sqft
    2019-02-01 0 days 2,105 sqft
    2019-03-01 0 days 2,056 sqft
    2019-04-01 0 days 1,985 sqft
    2019-05-01 0 days 1,939 sqft
    2019-06-01 0 days 1,951 sqft
    2019-07-01 0 days 2,082 sqft
    2019-08-01 0 days 2,091 sqft
    2019-09-01 0 days 2,091 sqft
    2019-10-01 0 days 2,091 sqft
    2019-11-01 0 days 1,935 sqft
    2019-12-01 0 days 1,941 sqft
    2020-01-01 0 days 1,949 sqft
    2020-02-01 0 days 2,072 sqft
    2020-03-01 0 days 2,100 sqft
    2020-04-01 0 days 2,089 sqft
    2020-05-01 0 days 2,094 sqft
    2020-06-01 0 days 2,097 sqft
    2020-07-01 0 days 2,103 sqft
    2020-08-01 0 days 2,073 sqft
    2020-09-01 0 days 2,093 sqft
    2020-10-01 0 days 2,101 sqft
    2020-11-01 0 days 2,041 sqft
    2020-12-01 0 days 1,889 sqft
    2021-01-01 0 days 1,850 sqft
    2021-02-01 0 days 1,865 sqft
    2021-03-01 0 days 1,857 sqft
    2021-04-01 0 days 1,808 sqft
    2021-05-01 0 days 1,863 sqft
    2021-06-01 0 days 1,836 sqft
    2021-07-01 0 days 1,706 sqft
    2021-08-01 0 days 1,951 sqft
    2021-09-01 0 days 2,050 sqft
    2021-10-01 0 days 1,888 sqft
    2021-11-01 0 days 1,879 sqft
    2021-12-01 0 days 1,828 sqft
    2022-01-01 0 days 1,816 sqft
    2022-02-01 0 days 1,817 sqft
    2022-03-01 0 days 1,816 sqft
    2022-04-01 0 days 1,632 sqft
    2022-05-01 0 days 1,770 sqft
    2022-06-01 0 days 1,829 sqft
    2022-07-01 0 days 1,817 sqft
    2022-08-01 0 days 1,783 sqft
    2022-09-01 0 days 1,824 sqft
    2022-10-01 0 days 1,857 sqft
    2022-11-01 0 days 1,825 sqft
    2022-12-01 0 days 1,916 sqft
    2023-01-01 0 days 1,925 sqft
    2023-02-01 0 days 1,892 sqft
    2023-03-01 0 days 1,849 sqft
    2023-04-01 0 days 1,845 sqft
    2023-05-01 0 days 1,809 sqft
    2023-06-01 0 days 1,697 sqft
    2023-07-01 0 days 1,754 sqft
    2023-08-01 0 days 1,754 sqft
    2023-09-01 0 days 1,823 sqft
    2023-10-01 0 days 1,789 sqft
    2023-11-01 0 days 1,780 sqft
    2023-12-01 0 days 1,902 sqft
    2024-01-01 0 days 1,929 sqft
    2024-02-01 0 days 1,997 sqft
    2024-03-01 0 days 1,955 sqft
    Brenham's median listing age (time on market) for 2024-03-01 was 0 days.

    Brenham's median square footage for active listings during the 2024-03-01 period was 1,955 sqft. One year prior, the average listing was 1,849 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).