College Station FHA Loan Rates, Closing Costs & Stats

COLLEGE STATION-BRYAN, 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.

    College Station's 85 lenders originated 436 FHA loans during 2022. The total origination value was $111,140,000, with an average FHA loan value of $254,908.

    College Station FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in College Station averaged 6.23% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    College Station's average FHA mortgage closing costs are $7,586.

    The average rate for the prior week (2023-05-19) was 6.21% and one month ago for the week of 2023-04-21, the average rate was 6.05%.

    The average rate one year ago was 5.07%.

    For refis of the same type during the week of 2023-05-26, the average rate was 5.45%.

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

    College Station 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 College Station level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 39 5.14% $7,187
    DHI MORTGAGE COMPANY, LTD. 39 4.34% $9,332
    Sunflower Bank 30 4.95% $11,487
    Wallick & Volk, Inc. 26 5.12% $7,903
    AMERICA'S CHOICE HOME LOANS LP 21 4.96% $11,913
    UNITED WHOLESALE MORTGAGE, LLC 17 5.04% $9,980
    QUICKEN LOANS, LLC 12 5.06% $8,604
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 5.63% $10,374
    CMG MORTGAGE, INC. 12 4.76% $11,801
    City Bank 12 4.95% $9,302
    BROKER SOLUTIONS, INC. 11 5.61% $9,491
    INTERLINC MORTGAGE SERVICES, LLC 11 4.41% $10,503
    AMCAP MORTGAGE, LTD. 9 5.67% $11,924
    Flagstar Bank, FSB 8 4.85% $9,736
    LOANDEPOT.COM, LLC 8 4.69% $13,395
    HOME POINT FINANCIAL CORPORATION 6 4.10% $8,085
    MOVEMENT MORTGAGE, LLC 5 5.28% $10,155
    PENNYMAC LOAN SERVICES, LLC 5 3.55% $9,531
    GUILD MORTGAGE COMPANY 5 4.78% $10,281
    PILGRIM MORTGAGE LLC 5 5.75% $13,807
    CALIBER HOME LOANS, INC. 4 4.50% $9,994
    JPMorgan Chase Bank 4 4.72% $6,531
    LAKEVIEW LOAN SERVICING, LLC 4 3.12% $4,819
    GUARANTEED RATE, INC. 4 5.31% $12,038
    SOUTHWEST STAGE FUNDING, LLC 3 6.04% $10,551
    ASPIRE FINANCIAL, INC. 3 4.66% $10,598
    CARDINAL FINANCIAL 3 4.25% $9,606
    CORNERSTONE HOME LENDING, INC. 3 4.83% $11,101
    CROSSCOUNTRY MORTGAGE, LLC 3 5.19% $15,257
    EVERETT FINANCIAL, INC. 3 6.75% $8,276
    Extraco Banks 3 4.50% $10,061
    HOMETRUST MORTGAGE COMPANY 3 5.17% $10,116
    MORTGAGE FINANCIAL SERVICES, LLC 3 3.79% $8,372
    PLAZA HOME MORTGAGE, INC. 3 5.75% $11,652
    TruHome Solutions, LLC 3 4.63% $14,687
    INSPIRE HOME LOANS INC. 2 5.75% $13,388
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.31% $9,723
    SWBC MORTGAGE CORPORATION 2 5.00% $7,736
    Gateway First Bank 2 6.81% $10,030
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.44% $14,873
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 5.44% $8,564
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.88% $11,009
    First Bank & Trust 2 4.19% $7,466
    CANOPY MORTGAGE, LLC 2 5.12% $16,866
    Guaranty Bank & Trust, N.A. 2 4.63% $9,737
    Paramount Residential Mortgage Group, Inc. 2 4.75% $9,922
    HOMEWAY MORTGAGE LLC 1 5.38% $8,538
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.00% $11,584
    Carrington Mortgage Services, LLC 1 3.13% $6,016
    LEADERONE FINANCIAL CORPORATION 1 3.63% $12,512
    CALCON MUTUAL MORTGAGE LLC 1 5.75% $13,584
    Loan Simple, Inc. 1 2.63% $21,016
    MORIA DEVELOPMENT, INC. 1 5.63% $13,184
    VAN DYK MORTGAGE CORPORATION 1 6.63% $22,627
    Mortgage Research Center, LLC 1 4.13% $5,421
    Arvest Bank 1 4.00% $7,438
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.13% $7,760
    NATIONS RELIABLE LENDING, LLC 1 4.25% $9,211
    OPEN MORTGAGE, LLC 1 5.63% $14,729
    Paramount Bank 1 3.63% $7,960
    AMERISAVE MORTGAGE CORPORATION 1 4.50% $18,539
    AmeriHome Mortgage Company, LLC 1 5.38% $8,482
    VILLAGE CAPITAL MORTGAGE 1 2.99% $3,643
    Amerifirst Financial, Inc. 1 5.38% $3,122
    RANLIFE, INC. 1 5.75% $9,498
    Republic State Mortgage Co. 1 5.13% $11,707
    Amarillo National Bank 1 3.25% $5,621
    The Federal Savings Bank 1 5.63% $6,418
    THE MORTGAGE FIRM, INC. 1 5.25% $10,471
    TIB The Independent Bankersbank 1 4.50% $11,462
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.63% $14,997
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 4.75% $7,903
    First Guaranty Mortgage Corporation 1 5.13% $14,169
    First United Bank and Trust Company 1 4.63% $9,421
    First National Bank Texas 1 3.75% $11,133
    First Bank 1 5.75% $12,940
    FREEDOM MORTGAGE CORPORATION 1 6.38% $10,251
    GENEVA FINANCIAL, LLC 1 6.63% $13,161
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $11,874
    Goldwater Bank, N.A. 1 6.25% $13,834
    Encompass Lending Group, LP 1 5.50% $13,352
    DRAPER AND KRAMER MORTGAGE CORP. 1 4.13% $8,673
    DIRECTIONS EQUITY, LLC 1 7.13% $6,295
    HOMESTAR FINANCIAL CORPORATION 1 5.25% $10,670
    AMERICAN HOMESTAR MORTGAGE, L.L.C. 1 6.25% $14,004

    The top College Station FHA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 39 FHA loans originated. Their average total fees are $7,187, which is $2,144 lower than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee College Station FHA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,187), Wallick & Volk, Inc. ($7,903), QUICKEN LOANS, LLC ($8,604), City Bank ($9,302) and DHI MORTGAGE COMPANY, LTD. ($9,332).

    The lowest rate College Station FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.34%), INTERLINC MORTGAGE SERVICES, LLC (4.41%), CMG MORTGAGE, INC. (4.76%), Sunflower Bank (4.95%) and City Bank (4.95%).

    College Station FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    COLLEGE STATION-BRYAN, TX BRAZOS 2022 $420,680 $538,650 $651,050 $809,150
    COLLEGE STATION-BRYAN, TX BURLESON 2022 $420,680 $538,650 $651,050 $809,150
    COLLEGE STATION-BRYAN, TX ROBERTSON 2022 $420,680 $538,650 $651,050 $809,150
    COLLEGE STATION-BRYAN, TX BRAZOS 2023 $472,030 $604,400 $730,525 $907,900
    COLLEGE STATION-BRYAN, TX BURLESON 2023 $472,030 $604,400 $730,525 $907,900
    COLLEGE STATION-BRYAN, TX ROBERTSON 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - College Station (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 $288,250 (-6.0%) $390,378 (-0.9%) 1.07 901
    2018-02-01 $279,900 (-9.7%) $391,718 (-1.6%) 1.02 973
    2018-03-01 $275,900 (-14.1%) $387,148 (-8.1%) 0.97 1,026
    2018-04-01 $274,900 (-15.4%) $383,979 (-10.1%) 0.93 1,077
    2018-05-01 $269,950 (-17.9%) $381,726 (-10.7%) 0.90 1,135
    2018-06-01 $269,900 (-5.2%) $379,306 (5.6%) 0.90 1,134
    2018-07-01 $269,900 (-3.6%) $375,223 (3.5%) 0.90 1,179
    2018-08-01 $269,900 (-14.4%) $378,816 (-7.1%) 0.90 1,132
    2018-09-01 $270,000 (-12.9%) $386,067 (-2.5%) 0.91 1,096
    2018-10-01 $269,900 (-12.9%) $389,782 (-2.9%) 0.91 1,091
    2018-11-01 $269,450 (-13.1%) $392,603 (-3.2%) 0.91 1,080
    2018-12-01 $266,500 (-11.1%) $369,931 (-7.0%) 0.92 1,045
    2019-01-01 $262,400 (-9.0%) $364,833 (-6.5%) 0.91 1,031
    2019-02-01 $259,675 (-7.2%) $351,383 (-10.3%) 0.88 1,132
    2019-03-01 $258,000 (-6.5%) $346,468 (-10.5%) 0.86 1,233
    2019-04-01 $264,900 (-3.6%) $353,427 (-8.0%) 0.84 1,266
    2019-05-01 $269,900 (0.0%) $355,701 (-6.8%) 0.84 1,278
    2019-06-01 $269,000 (-0.3%) $353,273 (-6.9%) 0.84 1,279
    2019-07-01 $269,875 (0.0%) $345,921 (-7.8%) 0.84 1,305
    2019-08-01 $269,900 (0.0%) $348,974 (-7.9%) 0.85 1,303
    2019-09-01 $269,844 (-0.1%) $356,712 (-7.6%) 0.85 1,206
    2019-10-01 $269,700 (-0.1%) $353,560 (-9.3%) 0.87 1,249
    2019-11-01 $269,900 (0.2%) $356,228 (-9.3%) 0.88 1,190
    2019-12-01 $269,950 (1.3%) $358,107 (-3.2%) 0.90 1,127
    2020-01-01 $262,450 (0.0%) $357,157 (-2.1%) 0.88 1,088
    2020-02-01 $265,900 (2.4%) $371,509 (5.7%) 0.87 1,243
    2020-03-01 $266,725 (3.4%) $365,307 (5.4%) 0.84 1,344
    2020-04-01 $271,450 (2.5%) $366,305 (3.6%) 0.85 1,338
    2020-05-01 $273,500 (1.3%) $366,868 (3.1%) 0.83 1,295
    2020-06-01 $277,313 (3.1%) $371,189 (5.1%) 0.82 1,186
    2020-07-01 $266,450 (-1.3%) $368,061 (6.4%) 0.77 1,148
    2020-08-01 $262,500 (-2.7%) $370,834 (6.3%) 0.75 1,077
    2020-09-01 $252,450 (-6.5%) $371,992 (4.3%) 0.72 1,047
    2020-10-01 $249,900 (-7.3%) $369,951 (4.6%) 0.72 975
    2020-11-01 $246,800 (-8.6%) $377,607 (6.0%) 0.72 910
    2020-12-01 $238,450 (-11.7%) $332,118 (-7.3%) 0.71 831
    2021-01-01 $239,900 (-8.6%) $331,686 (-7.1%) 0.72 729
    2021-02-01 $242,450 (-8.8%) $342,129 (-7.9%) 0.70 665
    2021-03-01 $254,369 (-4.6%) $367,714 (0.7%) 0.72 639
    2021-04-01 $271,004 (-0.2%) $380,841 (4.0%) 0.73 526
    2021-05-01 $305,000 (11.5%) $442,146 (20.5%) 0.81 397
    2021-06-01 $324,950 (17.2%) $460,154 (24.0%) 0.86 396
    2021-07-01 $327,000 (22.7%) $485,062 (31.8%) 0.86 405
    2021-08-01 $298,450 (13.7%) $429,776 (15.9%) 0.80 475
    2021-09-01 $295,501 (17.1%) $428,337 (15.2%) 0.79 458
    2021-10-01 $306,000 (22.5%) $418,092 (13.0%) 0.82 427
    2021-11-01 $292,225 (18.4%) $419,085 (11.0%) 0.78 373
    2021-12-01 $289,225 (21.3%) $427,052 (28.6%) 0.78 336
    2022-01-01 $284,900 (18.8%) $434,206 (30.9%) 0.77 309
    2022-02-01 $322,000 (32.8%) $490,068 (43.2%) 0.84 324
    2022-03-01 $322,500 (26.8%) $480,653 (30.7%) 0.81 320
    2022-04-01 $329,900 (21.7%) $468,963 (23.1%) 0.79 365
    2022-05-01 $350,000 (14.8%) $506,137 (14.5%) 0.80 422
    2022-06-01 $359,438 (10.6%) $506,258 (10.0%) 0.80 561
    2022-07-01 $345,450 (5.6%) $500,456 (3.2%) 0.78 604
    2022-08-01 $352,824 (18.2%) $501,698 (16.7%) 0.81 672
    2022-09-01 $356,768 (20.7%) $504,765 (17.8%) 0.83 685
    2022-10-01 $359,000 (17.3%) $514,045 (23.0%) 0.84 736
    2022-11-01 $366,113 (25.3%) $520,748 (24.3%) 0.88 697
    2022-12-01 $370,000 (27.9%) $526,676 (23.3%) 0.91 683
    2023-01-01 $369,425 (29.7%) $519,350 (19.6%) 0.91 648
    2023-02-01 $360,475 (12.0%) $504,890 (3.0%) 0.87 642
    2023-03-01 $379,725 (17.7%) $540,957 (12.6%) 0.89 606
    2023-04-01 $400,428 (21.4%) $559,328 (19.3%) 0.93 613
    College Station's median listing price for 2023-04-01 was $400,428, a difference of $70,528 (21.4%) versus the prior year and $20,703 versus the prior month.

    College Station's median listing price comes in at 93% of the national average.

    College Station's average listing price for 2023-04-01 was $559,328, a difference of $90,365 (19.3%) versus the prior year and $18,371 versus the prior month.

    For the 2023-04-01 period, College Station had 613 MLS listings, a difference of 7 listings (1%) versus the prior month and 248 listings (68%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - College Station (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 77 days 2,083 sqft
    2018-02-01 65 days 2,008 sqft
    2018-03-01 54 days 2,007 sqft
    2018-04-01 53 days 2,000 sqft
    2018-05-01 58 days 1,980 sqft
    2018-06-01 64 days 1,961 sqft
    2018-07-01 70 days 1,980 sqft
    2018-08-01 74 days 1,976 sqft
    2018-09-01 78 days 1,978 sqft
    2018-10-01 81 days 1,931 sqft
    2018-11-01 89 days 1,913 sqft
    2018-12-01 99 days 1,911 sqft
    2019-01-01 92 days 1,895 sqft
    2019-02-01 66 days 1,864 sqft
    2019-03-01 57 days 1,869 sqft
    2019-04-01 66 days 1,904 sqft
    2019-05-01 74 days 1,940 sqft
    2019-06-01 73 days 1,939 sqft
    2019-07-01 73 days 1,947 sqft
    2019-08-01 81 days 1,953 sqft
    2019-09-01 87 days 1,963 sqft
    2019-10-01 86 days 1,960 sqft
    2019-11-01 91 days 1,955 sqft
    2019-12-01 96 days 1,935 sqft
    2020-01-01 93 days 1,900 sqft
    2020-02-01 71 days 1,900 sqft
    2020-03-01 58 days 1,881 sqft
    2020-04-01 71 days 1,906 sqft
    2020-05-01 83 days 1,911 sqft
    2020-06-01 95 days 1,905 sqft
    2020-07-01 88 days 1,858 sqft
    2020-08-01 79 days 1,856 sqft
    2020-09-01 79 days 1,818 sqft
    2020-10-01 80 days 1,794 sqft
    2020-11-01 85 days 1,759 sqft
    2020-12-01 84 days 1,764 sqft
    2021-01-01 75 days 1,752 sqft
    2021-02-01 66 days 1,767 sqft
    2021-03-01 49 days 1,790 sqft
    2021-04-01 41 days 1,828 sqft
    2021-05-01 38 days 1,945 sqft
    2021-06-01 34 days 2,021 sqft
    2021-07-01 36 days 2,049 sqft
    2021-08-01 37 days 1,892 sqft
    2021-09-01 44 days 1,873 sqft
    2021-10-01 50 days 1,889 sqft
    2021-11-01 52 days 1,852 sqft
    2021-12-01 60 days 1,850 sqft
    2022-01-01 54 days 1,855 sqft
    2022-02-01 29 days 1,957 sqft
    2022-03-01 28 days 1,866 sqft
    2022-04-01 23 days 1,888 sqft
    2022-05-01 24 days 1,961 sqft
    2022-06-01 28 days 1,991 sqft
    2022-07-01 40 days 1,953 sqft
    2022-08-01 49 days 1,945 sqft
    2022-09-01 55 days 1,949 sqft
    2022-10-01 63 days 1,936 sqft
    2022-11-01 71 days 1,966 sqft
    2022-12-01 82 days 1,962 sqft
    2023-01-01 87 days 1,963 sqft
    2023-02-01 79 days 1,930 sqft
    2023-03-01 61 days 2,002 sqft
    2023-04-01 60 days 2,041 sqft
    College Station's median listing age (time on market) for 2023-04-01 was 60 days. This is 159% longer than the same period one year ago.

    College Station's median square footage for active listings during the 2023-04-01 period was 2,041 sqft. One year prior, the average listing was 1,888 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).