Brownsville FHA Loan Rates, Closing Costs & Stats

BROWNSVILLE-HARLINGEN, 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.

    Brownsville's 78 lenders originated 995 FHA loans during 2023. The total origination value was $235,105,000, with an average FHA loan value of $236,286.

    Brownsville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Brownsville averaged 6.38% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Brownsville's average FHA mortgage closing costs are $8,522.

    The average rate for the prior week (2024-12-06) was 6.15% and one month ago for the week of 2024-11-08, the average rate was 6.31%.

    The average rate one year ago was 6.62%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.43%.

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

    Brownsville 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 Brownsville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    NATIONS RELIABLE LENDING, LLC 114 6.57% $13,853
    HALLMARK HOME MORTGAGE, LLC 96 6.51% $11,992
    ACADEMY MORTGAGE CORPORATION 66 6.40% $12,974
    UNITED WHOLESALE MORTGAGE, LLC 38 6.33% $11,386
    CROSSCOUNTRY MORTGAGE, LLC 37 6.54% $13,703
    WILLOW BEND MORTGAGE COMPANY, LLC 37 6.67% $16,512
    SECURITYNATIONAL MORTGAGE COMPANY 37 6.58% $11,866
    AMCAP MORTGAGE, LTD. 34 6.92% $13,365
    DIRECTIONS EQUITY, LLC 34 6.73% $8,691
    PLAZA HOME MORTGAGE, INC. 29 6.02% $11,356
    MORTGAGE FINANCIAL SERVICES, LLC 27 6.45% $10,430
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 6.99% $12,235
    AMERICAN PACIFIC MORTGAGE CORPORATION 23 6.74% $12,143
    ASCENT HOME LENDING, LLC 23 6.74% $16,034
    DRAPER AND KRAMER MORTGAGE CORP. 20 6.33% $13,298
    QUICKEN LOANS, LLC 16 6.41% $11,963
    MORTGAGE SOLUTIONS OF COLORADO, LLC 15 7.26% $11,636
    EUSTIS AND AMERICAN MORTGAGE COMPANY 12 6.68% $11,149
    PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.43% $9,806
    MOVEMENT MORTGAGE, LLC 11 6.24% $13,358
    Century Mortgage Company DBA Century Lending Company 10 6.12% $11,548
    Paramount Residential Mortgage Group, Inc. 10 6.34% $11,893
    S1L, Inc. 9 6.36% $12,966
    Nations Lending Corporation 9 6.68% $9,980
    DAS Acquisition Company, LLC 7 7.14% $11,290
    HOMESIDE FINANCIAL, LLC 7 7.21% $10,689
    PRIMARY RESIDENTIAL MORTGAGE, INC. 7 6.73% $15,055
    SUN WEST MORTGAGE COMPANY, INC. 7 6.66% $9,928
    Gateway First Bank 6 6.65% $10,842
    CARDINAL FINANCIAL 6 6.58% $9,806
    PENNYMAC LOAN SERVICES, LLC 5 5.92% $10,422
    MICHIGAN MUTUAL, INC. 5 6.45% $11,568
    CMG MORTGAGE, INC. 5 6.92% $12,166
    LEADERONE FINANCIAL CORPORATION 4 6.66% $11,889
    GENEVA FINANCIAL, LLC 4 7.56% $9,764
    EVERETT FINANCIAL, INC. 4 6.31% $10,847
    Equity Prime Mortgage LLC 4 6.94% $12,666
    PLANET HOME LENDING, LLC 4 5.84% $9,813
    Town Square Mortgage & Investments, Inc. 4 6.78% $9,666
    Flagstar Bank, FSB 4 6.46% $9,319
    NEWREZ LLC 3 6.25% $7,388
    GUILD MORTGAGE COMPANY 3 6.25% $9,702
    Plains Commerce Bank 3 6.08% $10,327
    THRIVE MORTGAGE, LLC 3 6.38% $13,031
    FREEDOM MORTGAGE CORPORATION 3 6.21% $13,174
    Waterstone Mortgage Corporation 3 7.33% $10,211
    JPMorgan Chase Bank 2 6.13% $6,511
    CALCON MUTUAL MORTGAGE LLC 2 7.00% $15,620
    HOME FUNDING CORPORATION 2 6.69% $9,120
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.44% $10,989
    U.S. Bank 2 6.75% $11,579
    BROKER SOLUTIONS, INC. 2 6.44% $14,246
    Mr. Cooper ( Nationstar Mortgage ) 2 6.63% $10,158
    Mortgage Research Center, LLC 2 6.88% $6,234
    Ixonia Bank 2 5.69% $12,015
    Lone Star National Bank 2 6.06% $9,945
    TOWNE MORTGAGE COMPANY 1 6.13% $8,610
    UNION HOME MORTGAGE CORP. 1 7.00% $12,631
    United Fidelity Funding Corp. 1 6.88% $8,462
    VILLAGE CAPITAL MORTGAGE 1 6.88% $3,483
    International Bank of Commerce 1 6.75% $4,317
    Wallick & Volk, Inc. 1 5.88% $3,323
    KELLER MORTGAGE, LLC 1 5.88% $10,842
    MEMBER FIRST MORTGAGE, LLC 1 7.13% $9,635
    V.I.P. MORTGAGE, INC. 1 6.75% $9,315
    Commerce Home Mortgage, Inc. 1 7.13% $11,447
    City Bank 1 6.88% $10,921
    Centennial Bank 1 6.25% $10,689
    NBKC BANK 1 6.50% $9,856
    GUARANTEED RATE, INC. 1 6.75% $9,472
    GSF Mortgage Corporation 1 5.63% $8,261
    First United Bank and Trust Company 1 6.38% $14,900
    BOKF 1 6.63% $8,897
    BETTER MORTGAGE CORPORATION 1 5.75% $20,816
    BECKAM FUNDING CORP. 1 7.75% $25,982
    SIRVA MORTGAGE, INC. 1 7.63% $6,546
    Ameris Bank 1 6.25% $15,555
    The Loan Store, Inc. 1 7.13% $10,996

    The top Brownsville FHA lender as defined by loan originations is NATIONS RELIABLE LENDING, LLC, with 114 FHA loans originated. Their average total fees are $13,853, which is $1,861 higher than the next largest lender, HALLMARK HOME MORTGAGE, LLC.

    The lowest fee Brownsville FHA lenders (with over 10 loans originated) are DIRECTIONS EQUITY, LLC ($8,691), PRIMELENDING, A PLAINSCAPITAL COMPANY ($9,806), MORTGAGE FINANCIAL SERVICES, LLC ($10,430), EUSTIS AND AMERICAN MORTGAGE COMPANY ($11,149) and PLAZA HOME MORTGAGE, INC. ($11,356).

    The lowest rate Brownsville FHA lenders (with over 10 loans originated) are PLAZA HOME MORTGAGE, INC. (6.02%), Century Mortgage Company DBA Century Lending Company (6.12%), MOVEMENT MORTGAGE, LLC (6.24%), UNITED WHOLESALE MORTGAGE, LLC (6.33%) and DRAPER AND KRAMER MORTGAGE CORP. (6.33%).

    Brownsville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Brownsville (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 $200,000 (2.6%) $282,802 (2.6%) 0.74 1,594
    2018-02-01 $204,374 (5.4%) $284,402 (2.8%) 0.74 1,610
    2018-03-01 $209,000 (6.4%) $294,820 (4.7%) 0.73 1,608
    2018-04-01 $209,974 (5.3%) $297,318 (4.5%) 0.71 1,567
    2018-05-01 $221,950 (8.3%) $304,156 (5.5%) 0.74 1,561
    2018-06-01 $225,000 (6.5%) $308,066 (3.8%) 0.75 1,603
    2018-07-01 $224,975 (7.1%) $307,151 (3.3%) 0.75 1,631
    2018-08-01 $221,000 (8.1%) $305,779 (4.6%) 0.74 1,637
    2018-09-01 $215,000 (7.6%) $302,495 (4.3%) 0.72 1,583
    2018-10-01 $218,448 (9.3%) $308,371 (6.7%) 0.74 1,559
    2018-11-01 $217,900 (6.7%) $305,311 (5.3%) 0.74 1,556
    2018-12-01 $215,000 (3.6%) $301,647 (4.2%) 0.74 1,521
    2019-01-01 $212,500 (6.3%) $298,967 (5.7%) 0.73 1,458
    2019-02-01 $214,675 (5.0%) $299,483 (5.3%) 0.73 1,472
    2019-03-01 $221,786 (6.1%) $303,218 (2.9%) 0.73 1,475
    2019-04-01 $224,925 (7.1%) $303,462 (2.1%) 0.71 1,486
    2019-05-01 $229,950 (3.6%) $308,495 (1.4%) 0.72 1,477
    2019-06-01 $229,900 (2.2%) $309,575 (0.5%) 0.72 1,490
    2019-07-01 $232,000 (3.1%) $318,034 (3.5%) 0.73 1,420
    2019-08-01 $232,818 (5.4%) $322,228 (5.4%) 0.74 1,402
    2019-09-01 $234,045 (8.9%) $327,031 (8.1%) 0.75 1,382
    2019-10-01 $237,000 (8.5%) $332,147 (7.7%) 0.76 1,355
    2019-11-01 $235,000 (7.9%) $326,907 (7.1%) 0.77 1,321
    2019-12-01 $229,975 (7.0%) $320,188 (6.2%) 0.77 1,324
    2020-01-01 $229,315 (7.9%) $319,019 (6.7%) 0.77 1,260
    2020-02-01 $230,000 (7.1%) $319,744 (6.8%) 0.75 1,271
    2020-03-01 $239,125 (7.8%) $326,932 (7.8%) 0.75 1,242
    2020-04-01 $239,000 (6.3%) $326,689 (7.7%) 0.75 1,216
    2020-05-01 $245,900 (6.9%) $365,176 (18.4%) 0.75 1,178
    2020-06-01 $250,000 (8.7%) $371,113 (19.9%) 0.74 1,017
    2020-07-01 $256,000 (10.3%) $375,911 (18.2%) 0.74 933
    2020-08-01 $249,000 (7.0%) $367,748 (14.1%) 0.71 873
    2020-09-01 $249,000 (6.4%) $373,373 (14.2%) 0.71 819
    2020-10-01 $249,900 (5.4%) $379,767 (14.3%) 0.72 761
    2020-11-01 $249,450 (6.2%) $383,033 (17.2%) 0.73 740
    2020-12-01 $249,949 (8.7%) $386,507 (20.7%) 0.74 713
    2021-01-01 $255,660 (11.5%) $395,026 (23.8%) 0.76 622
    2021-02-01 $260,000 (13.0%) $397,601 (24.4%) 0.76 565
    2021-03-01 $257,725 (7.8%) $403,916 (23.6%) 0.73 521
    2021-04-01 $260,000 (8.8%) $427,622 (30.9%) 0.70 444
    2021-05-01 $279,000 (13.5%) $468,097 (28.2%) 0.74 368
    2021-06-01 $279,000 (11.6%) $469,771 (26.6%) 0.73 352
    2021-07-01 $286,000 (11.7%) $473,219 (25.9%) 0.75 407
    2021-08-01 $286,675 (15.1%) $462,601 (25.8%) 0.76 439
    2021-09-01 $292,000 (17.3%) $463,792 (24.2%) 0.78 464
    2021-10-01 $282,500 (13.1%) $470,175 (23.8%) 0.75 465
    2021-11-01 $294,750 (18.2%) $478,704 (25.0%) 0.79 457
    2021-12-01 $296,000 (18.4%) $491,233 (27.1%) 0.80 452
    2022-01-01 $299,950 (17.3%) $519,096 (31.4%) 0.81 408
    2022-02-01 $304,975 (17.3%) $520,426 (30.9%) 0.79 405
    2022-03-01 $321,000 (24.6%) $523,280 (29.6%) 0.80 405
    2022-04-01 $325,000 (25.0%) $521,244 (21.9%) 0.77 427
    2022-05-01 $323,348 (15.9%) $487,061 (4.1%) 0.74 462
    2022-06-01 $339,475 (21.7%) $469,147 (-0.1%) 0.76 544
    2022-07-01 $325,000 (13.6%) $463,121 (-2.1%) 0.73 613
    2022-08-01 $325,000 (13.4%) $456,254 (-1.4%) 0.75 686
    2022-09-01 $328,125 (12.4%) $449,899 (-3.0%) 0.77 714
    2022-10-01 $320,500 (13.5%) $428,637 (-8.8%) 0.75 820
    2022-11-01 $322,500 (9.4%) $425,513 (-11.1%) 0.78 865
    2022-12-01 $320,000 (8.1%) $421,370 (-14.2%) 0.79 862
    2023-01-01 $317,475 (5.8%) $420,103 (-19.1%) 0.79 862
    2023-02-01 $319,000 (4.6%) $419,433 (-19.4%) 0.77 879
    2023-03-01 $319,000 (-0.6%) $418,534 (-20.0%) 0.75 862
    2023-04-01 $324,700 (-0.1%) $428,534 (-17.8%) 0.76 824
    2023-05-01 $325,000 (0.5%) $434,876 (-10.7%) 0.74 818
    2023-06-01 $330,000 (-2.8%) $453,083 (-3.4%) 0.74 851
    2023-07-01 $330,000 (1.5%) $451,746 (-2.5%) 0.75 898
    2023-08-01 $325,000 (0.0%) $445,788 (-2.3%) 0.75 945
    2023-09-01 $319,000 (-2.8%) $424,173 (-5.7%) 0.74 999
    2023-10-01 $319,450 (-0.3%) $417,748 (-2.5%) 0.75 1,069
    2023-11-01 $311,250 (-3.5%) $407,704 (-4.2%) 0.74 1,155
    2023-12-01 $305,000 (-4.7%) $398,248 (-5.5%) 0.74 1,232
    2024-01-01 $307,850 (-3.0%) $402,184 (-4.3%) 0.75 1,215
    2024-02-01 $304,900 (-4.4%) $397,100 (-5.3%) 0.73 1,273
    2024-03-01 $308,000 (-3.5%) $407,098 (-2.7%) 0.72 1,310
    2024-04-01 $315,000 (-3.0%) $411,069 (-4.1%) 0.73 1,370
    2024-05-01 $317,975 (-2.2%) $411,781 (-5.3%) 0.72 1,392
    2024-06-01 $319,000 (-3.3%) $403,566 (-10.9%) 0.72 1,473
    2024-07-01 $312,500 (-5.3%) $394,809 (-12.6%) 0.71 1,506
    2024-08-01 $309,900 (-4.7%) $396,231 (-11.1%) 0.72 1,546
    2024-09-01 $306,000 (-4.1%) $396,999 (-6.4%) 0.72 1,583
    2024-10-01 $299,999 (-6.1%) $392,804 (-6.0%) 0.71 1,676
    2024-11-01 $299,000 (-3.9%) $387,877 (-4.9%) 0.72 1,752
    Brownsville's median listing price for 2024-11-01 was $299,000, a difference of $-12,250 (-3.9%) versus the prior year and $-999 versus the prior month.

    Brownsville's median listing price comes in at 72% of the national average.

    Brownsville's average listing price for 2024-11-01 was $387,877, a difference of $-19,827 (-4.9%) versus the prior year and $-4,927 versus the prior month.

    For the 2024-11-01 period, Brownsville had 1,752 MLS listings, a difference of 76 listings (5%) versus the prior month and 597 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Brownsville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 110 days 1,649 sqft
    2018-02-01 109 days 1,643 sqft
    2018-03-01 109 days 1,650 sqft
    2018-04-01 95 days 1,665 sqft
    2018-05-01 89 days 1,676 sqft
    2018-06-01 89 days 1,700 sqft
    2018-07-01 91 days 1,709 sqft
    2018-08-01 94 days 1,694 sqft
    2018-09-01 101 days 1,694 sqft
    2018-10-01 107 days 1,709 sqft
    2018-11-01 109 days 1,708 sqft
    2018-12-01 115 days 1,706 sqft
    2019-01-01 110 days 1,688 sqft
    2019-02-01 102 days 1,670 sqft
    2019-03-01 96 days 1,659 sqft
    2019-04-01 92 days 1,650 sqft
    2019-05-01 90 days 1,665 sqft
    2019-06-01 83 days 1,693 sqft
    2019-07-01 93 days 1,687 sqft
    2019-08-01 96 days 1,685 sqft
    2019-09-01 98 days 1,694 sqft
    2019-10-01 97 days 1,705 sqft
    2019-11-01 94 days 1,695 sqft
    2019-12-01 96 days 1,700 sqft
    2020-01-01 96 days 1,686 sqft
    2020-02-01 95 days 1,732 sqft
    2020-03-01 77 days 1,752 sqft
    2020-04-01 87 days 1,728 sqft
    2020-05-01 96 days 1,738 sqft
    2020-06-01 100 days 1,783 sqft
    2020-07-01 79 days 1,781 sqft
    2020-08-01 81 days 1,761 sqft
    2020-09-01 76 days 1,792 sqft
    2020-10-01 81 days 1,800 sqft
    2020-11-01 83 days 1,825 sqft
    2020-12-01 81 days 1,800 sqft
    2021-01-01 89 days 1,849 sqft
    2021-02-01 77 days 1,833 sqft
    2021-03-01 68 days 1,888 sqft
    2021-04-01 48 days 1,916 sqft
    2021-05-01 44 days 1,946 sqft
    2021-06-01 42 days 1,910 sqft
    2021-07-01 37 days 1,887 sqft
    2021-08-01 46 days 1,884 sqft
    2021-09-01 46 days 1,918 sqft
    2021-10-01 51 days 1,871 sqft
    2021-11-01 50 days 1,858 sqft
    2021-12-01 55 days 1,856 sqft
    2022-01-01 63 days 1,943 sqft
    2022-02-01 46 days 1,883 sqft
    2022-03-01 45 days 1,881 sqft
    2022-04-01 40 days 1,843 sqft
    2022-05-01 41 days 1,800 sqft
    2022-06-01 38 days 1,849 sqft
    2022-07-01 44 days 1,808 sqft
    2022-08-01 47 days 1,791 sqft
    2022-09-01 58 days 1,799 sqft
    2022-10-01 58 days 1,820 sqft
    2022-11-01 63 days 1,823 sqft
    2022-12-01 72 days 1,808 sqft
    2023-01-01 78 days 1,803 sqft
    2023-02-01 71 days 1,800 sqft
    2023-03-01 63 days 1,815 sqft
    2023-04-01 66 days 1,831 sqft
    2023-05-01 67 days 1,787 sqft
    2023-06-01 57 days 1,801 sqft
    2023-07-01 60 days 1,800 sqft
    2023-08-01 66 days 1,775 sqft
    2023-09-01 65 days 1,747 sqft
    2023-10-01 66 days 1,758 sqft
    2023-11-01 66 days 1,750 sqft
    2023-12-01 67 days 1,710 sqft
    2024-01-01 79 days 1,713 sqft
    2024-02-01 79 days 1,701 sqft
    2024-03-01 68 days 1,700 sqft
    2024-04-01 67 days 1,697 sqft
    2024-05-01 71 days 1,693 sqft
    2024-06-01 73 days 1,700 sqft
    2024-07-01 78 days 1,691 sqft
    2024-08-01 77 days 1,664 sqft
    2024-09-01 78 days 1,643 sqft
    2024-10-01 83 days 1,627 sqft
    2024-11-01 92 days 1,620 sqft
    Brownsville's median listing age (time on market) for 2024-11-01 was 92 days. This is 39% longer than the same period one year ago.

    Brownsville's median square footage for active listings during the 2024-11-01 period was 1,620 sqft. One year prior, the average listing was 1,750 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).