Brownsville FHA Loans
BROWNSVILLE-HARLINGEN, 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.
Brownsville's 100 lenders originated 1,521 FHA loans during 2021. The total origination value was $265,595,000, with an average FHA loan value of $174,619.
Brownsville FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Brownsville
averaged
5.22%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.65% and
one month ago for the week of 2022-04-08, the
average rate was 4.82%.
The average rate one year ago was 3.23%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.19%.
Brownsville FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Brownsville level.
The top Brownsville FHA lender as defined by loan originations is PLANET HOME LENDING, LLC, with
113 FHA loans originated. Their average total fees are
$9,008, which is $1,381
higher than the next largest lender,
FINANCE OF AMERICA MORTGAGE LLC.
The lowest fee Brownsville FHA lenders (with over 10 loans originated) are
Mr. Cooper ( Nationstar Mortgage ) ($2,928), PENNYMAC LOAN SERVICES, LLC ($3,870), AmeriHome Mortgage Company, LLC ($4,098), LAKEVIEW LOAN SERVICING, LLC ($4,513) and Lakeview Community Capital, LLC ($4,632).
The lowest rate Brownsville FHA lenders (with over 10 loans originated) are
NEWREZ LLC (2.63%), UNITED WHOLESALE MORTGAGE, LLC (2.68%), QUICKEN LOANS, LLC (2.76%), MORTGAGE FINANCIAL SERVICES, LLC (2.82%) and FREEDOM MORTGAGE CORPORATION (2.98%).
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 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Brownsville (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 | $215,000 (8.6%) | $297,178 (3.3%) | 0.79 | 1,876 |
2018-02-01 | $217,000 (9.5%) | $298,759 (2.8%) | 0.78 | 1,886 |
2018-03-01 | $219,900 (10.3%) | $312,323 (5.9%) | 0.76 | 1,865 |
2018-04-01 | $222,000 (7.0%) | $314,268 (6.6%) | 0.75 | 1,810 |
2018-05-01 | $229,750 (6.9%) | $321,586 (7.9%) | 0.77 | 1,801 |
2018-06-01 | $239,000 (8.7%) | $324,761 (5.5%) | 0.80 | 1,836 |
2018-07-01 | $239,000 (8.7%) | $322,783 (5.0%) | 0.80 | 1,860 |
2018-08-01 | $234,000 (6.4%) | $319,285 (4.1%) | 0.78 | 1,852 |
2018-09-01 | $228,000 (3.7%) | $316,279 (4.0%) | 0.76 | 1,779 |
2018-10-01 | $229,000 (6.5%) | $326,640 (7.8%) | 0.77 | 1,747 |
2018-11-01 | $228,500 (4.3%) | $320,363 (5.1%) | 0.77 | 1,742 |
2018-12-01 | $227,500 (3.5%) | $315,457 (3.2%) | 0.78 | 1,700 |
2019-01-01 | $224,450 (4.4%) | $308,422 (3.8%) | 0.77 | 1,618 |
2019-02-01 | $224,000 (3.2%) | $310,619 (4.0%) | 0.75 | 1,637 |
2019-03-01 | $229,386 (4.3%) | $314,286 (0.6%) | 0.75 | 1,638 |
2019-04-01 | $229,950 (3.6%) | $314,347 (0.0%) | 0.72 | 1,651 |
2019-05-01 | $234,950 (2.3%) | $317,554 (-1.3%) | 0.72 | 1,652 |
2019-06-01 | $234,900 (-1.7%) | $319,745 (-1.5%) | 0.72 | 1,675 |
2019-07-01 | $239,450 (0.2%) | $327,692 (1.5%) | 0.74 | 1,616 |
2019-08-01 | $240,500 (2.8%) | $335,090 (5.0%) | 0.76 | 1,593 |
2019-09-01 | $243,750 (6.9%) | $343,925 (8.7%) | 0.77 | 1,565 |
2019-10-01 | $244,500 (6.8%) | $346,125 (6.0%) | 0.78 | 1,551 |
2019-11-01 | $244,900 (7.2%) | $342,639 (7.0%) | 0.79 | 1,525 |
2019-12-01 | $239,700 (5.4%) | $337,558 (7.0%) | 0.80 | 1,532 |
2020-01-01 | $239,000 (6.5%) | $333,302 (8.1%) | 0.80 | 1,450 |
2020-02-01 | $239,000 (6.7%) | $336,828 (8.4%) | 0.77 | 1,452 |
2020-03-01 | $249,000 (8.6%) | $335,382 (6.7%) | 0.78 | 1,420 |
2020-04-01 | $248,750 (8.2%) | $335,684 (6.8%) | 0.77 | 1,397 |
2020-05-01 | $255,000 (8.5%) | $415,673 (30.9%) | 0.77 | 1,348 |
2020-06-01 | $265,388 (13.0%) | $428,097 (33.9%) | 0.78 | 1,191 |
2020-07-01 | $268,750 (12.2%) | $443,605 (35.4%) | 0.77 | 1,080 |
2020-08-01 | $259,000 (7.7%) | $458,524 (36.8%) | 0.74 | 1,015 |
2020-09-01 | $265,000 (8.7%) | $471,317 (37.0%) | 0.76 | 963 |
2020-10-01 | $264,000 (8.0%) | $459,337 (32.7%) | 0.75 | 887 |
2020-11-01 | $264,500 (8.0%) | $464,263 (35.5%) | 0.76 | 855 |
2020-12-01 | $269,895 (12.6%) | $469,778 (39.2%) | 0.79 | 821 |
2021-01-01 | $275,000 (15.1%) | $478,717 (43.6%) | 0.81 | 710 |
2021-02-01 | $272,450 (14.0%) | $450,327 (33.7%) | 0.78 | 636 |
2021-03-01 | $270,750 (8.7%) | $462,414 (37.9%) | 0.76 | 581 |
2021-04-01 | $281,750 (13.3%) | $498,792 (48.6%) | 0.76 | 494 |
2021-05-01 | $297,000 (16.5%) | $536,180 (29.0%) | 0.78 | 421 |
2021-06-01 | $298,450 (12.5%) | $542,813 (26.8%) | 0.78 | 392 |
2021-07-01 | $297,000 (10.5%) | $536,151 (20.9%) | 0.77 | 449 |
2021-08-01 | $297,000 (14.7%) | $516,982 (12.8%) | 0.78 | 499 |
2021-09-01 | $299,000 (12.8%) | $509,005 (8.0%) | 0.79 | 517 |
2021-10-01 | $294,000 (11.4%) | $517,058 (12.6%) | 0.77 | 535 |
2021-11-01 | $300,000 (13.4%) | $530,713 (14.3%) | 0.79 | 529 |
2021-12-01 | $305,000 (13.0%) | $550,528 (17.2%) | 0.81 | 522 |
2022-01-01 | $325,000 (18.2%) | $577,918 (20.7%) | 0.87 | 457 |
2022-02-01 | $325,000 (19.3%) | $580,656 (28.9%) | 0.83 | 460 |
2022-03-01 | $325,000 (20.0%) | $582,848 (26.0%) | 0.80 | 450 |
2022-04-01 | $329,000 (16.8%) | $573,001 (14.9%) | 0.77 | 483 |
Brownsville's median listing price comes in at 77% of the national average.
Brownsville's average listing price for 2022-04-01 was $573,001, a difference of $74,209 (14.9%) versus the prior year and $-9,847 versus the prior month.
For the 2022-04-01 period, Brownsville had 483 MLS listings, a difference of 33 listings (7%) versus the prior month and -11 listings (-2%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Brownsville (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 135 days | 1,638 sqft |
2018-02-01 | 136 days | 1,627 sqft |
2018-03-01 | 134 days | 1,650 sqft |
2018-04-01 | 128 days | 1,670 sqft |
2018-05-01 | 117 days | 1,680 sqft |
2018-06-01 | 119 days | 1,700 sqft |
2018-07-01 | 121 days | 1,713 sqft |
2018-08-01 | 122 days | 1,698 sqft |
2018-09-01 | 127 days | 1,693 sqft |
2018-10-01 | 132 days | 1,705 sqft |
2018-11-01 | 137 days | 1,707 sqft |
2018-12-01 | 144 days | 1,703 sqft |
2019-01-01 | 138 days | 1,689 sqft |
2019-02-01 | 126 days | 1,660 sqft |
2019-03-01 | 127 days | 1,649 sqft |
2019-04-01 | 114 days | 1,644 sqft |
2019-05-01 | 107 days | 1,659 sqft |
2019-06-01 | 102 days | 1,689 sqft |
2019-07-01 | 109 days | 1,692 sqft |
2019-08-01 | 114 days | 1,697 sqft |
2019-09-01 | 115 days | 1,714 sqft |
2019-10-01 | 115 days | 1,716 sqft |
2019-11-01 | 108 days | 1,720 sqft |
2019-12-01 | 114 days | 1,723 sqft |
2020-01-01 | 115 days | 1,720 sqft |
2020-02-01 | 115 days | 1,748 sqft |
2020-03-01 | 102 days | 1,773 sqft |
2020-04-01 | 104 days | 1,733 sqft |
2020-05-01 | 107 days | 1,776 sqft |
2020-06-01 | 114 days | 1,802 sqft |
2020-07-01 | 106 days | 1,827 sqft |
2020-08-01 | 96 days | 1,820 sqft |
2020-09-01 | 99 days | 1,900 sqft |
2020-10-01 | 101 days | 1,837 sqft |
2020-11-01 | 102 days | 1,914 sqft |
2020-12-01 | 106 days | 1,853 sqft |
2021-01-01 | 108 days | 1,887 sqft |
2021-02-01 | 89 days | 1,889 sqft |
2021-03-01 | 88 days | 1,940 sqft |
2021-04-01 | 63 days | 2,007 sqft |
2021-05-01 | 50 days | 2,030 sqft |
2021-06-01 | 54 days | 2,002 sqft |
2021-07-01 | 44 days | 1,944 sqft |
2021-08-01 | 48 days | 1,924 sqft |
2021-09-01 | 50 days | 1,965 sqft |
2021-10-01 | 53 days | 1,942 sqft |
2021-11-01 | 53 days | 1,914 sqft |
2021-12-01 | 56 days | 1,898 sqft |
2022-01-01 | 66 days | 2,004 sqft |
2022-02-01 | 58 days | 1,925 sqft |
2022-03-01 | 51 days | 1,883 sqft |
2022-04-01 | 46 days | 1,856 sqft |
Brownsville's median square footage for active listings during the 2022-04-01 period was 1,856 sqft. One year prior, the average listing was 2,007 sqft.