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 80 lenders originated 488 FHA loans during 2023. The total origination value was $132,700,000, with an average FHA loan value of $271,926.

    College Station FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in College Station averaged 6.9% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    College Station's average FHA mortgage closing costs are $8,157.

    The average rate for the prior week (2024-04-12) was 6.39% and one month ago for the week of 2024-03-15, the average rate was 6.26%.

    The average rate one year ago was 5.99%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 82 5.59% $8,706
    UNITED WHOLESALE MORTGAGE, LLC 39 6.48% $12,807
    CORNERSTONE HOME LENDING, INC. 33 6.84% $11,925
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 28 5.83% $7,220
    NEW FED MORTGAGE, CORP. 22 6.64% $13,173
    INSPIRE HOME LOANS INC. 17 5.26% $9,592
    PILGRIM MORTGAGE LLC 17 6.45% $14,277
    QUICKEN LOANS, LLC 13 6.44% $11,874
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.85% $9,971
    Flagstar Bank, FSB 13 6.61% $12,927
    Sunflower Bank 11 6.07% $13,431
    City Bank 9 6.44% $10,364
    Wallick & Volk, Inc. 9 6.76% $9,846
    CMG MORTGAGE, INC. 8 6.03% $16,356
    CARDINAL FINANCIAL 7 6.96% $11,890
    First Financial Bank 7 6.55% $11,027
    BROKER SOLUTIONS, INC. 7 6.63% $12,299
    JPMorgan Chase Bank 6 5.92% $6,223
    MOVEMENT MORTGAGE, LLC 6 6.73% $9,835
    AMCAP MORTGAGE, LTD. 5 7.18% $13,780
    TruHome Solutions, LLC 4 6.31% $13,799
    CROSSCOUNTRY MORTGAGE, LLC 4 6.88% $13,317
    LOANDEPOT.COM, LLC 4 7.12% $11,947
    GARDNER FINANCIAL SERVICES, LTD. 4 6.19% $16,277
    Guaranty Bank & Trust, N.A. 4 6.94% $10,573
    CHURCHILL MORTGAGE CORPORATION 4 6.41% $14,113
    Equity Prime Mortgage LLC 3 7.00% $13,045
    Mortgage Research Center, LLC 3 7.04% $7,970
    RESIDENTIAL BANCORP 3 6.71% $19,041
    SECURITYNATIONAL MORTGAGE COMPANY 3 7.33% $13,998
    SOUTHWEST STAGE FUNDING, LLC 3 6.50% $8,768
    GUILD MORTGAGE COMPANY 3 6.29% $16,075
    SWBC MORTGAGE CORPORATION 2 6.69% $8,608
    SFMC, LP 2 6.75% $17,960
    CALCON MUTUAL MORTGAGE LLC 2 6.50% $16,313
    Prosperity Bank 2 6.50% $9,145
    Loan Simple, Inc. 2 6.69% $19,302
    First National Bank Texas 2 7.18% $13,822
    PLAZA HOME MORTGAGE, INC. 2 5.93% $10,196
    Paramount Residential Mortgage Group, Inc. 2 7.63% $14,929
    Extraco Banks 2 6.31% $8,369
    HOMETRUST MORTGAGE COMPANY 2 6.56% $10,543
    EVERETT FINANCIAL, INC. 2 6.88% $15,933
    NEWREZ LLC 2 6.25% $9,954
    T2 FINANCIAL LLC 2 7.44% $11,284
    ZILLOW HOME LOANS, LLC 1 6.00% $15,630
    Amarillo National Bank 1 7.00% $9,387
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.75% $10,637
    AMERICAN HOMESTAR MORTGAGE, L.L.C. 1 6.50% $12,277
    American Momentum Bank 1 6.75% $7,860
    American National Bank & Trust 1 7.13% $8,862
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $11,061
    CANOPY MORTGAGE, LLC 1 6.75% $14,255
    Centennial Bank 1 7.13% $9,662
    Century Mortgage Company DBA Century Lending Company 1 6.75% $14,491
    Chickasaw Community Bank 1 6.75% $15,922
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.75% $7,226
    First Savings Bank 1 6.25% $14,098
    FREEDOM MORTGAGE CORPORATION 1 6.75% $14,798
    GENEVA FINANCIAL, LLC 1 7.50% $15,889
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $10,233
    Hamilton Mortgage Corporation 1 7.13% $15,241
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 5.63% $9,648
    HOMESIDE FINANCIAL, LLC 1 6.63% $11,622
    Hometown Equity Mortgage, LLC 1 6.75% $13,554
    LEGEND LENDING CORPORATION 1 6.75% $17,417
    MID AMERICA MORTGAGE, INC. 1 6.75% $30,584
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $10,461
    Network Funding, L.P. 1 7.13% $20,425
    North American Savings Bank, F.S.B. 1 6.88% $6,835
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.13% $7,089
    OPEN MORTGAGE, LLC 1 8.38% $8,987
    PENNYMAC LOAN SERVICES, LLC 1 6.75% $15,585
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.75% $11,053
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.75% $9,420
    SUCCESS MORTGAGE PARTNERS, INC. 1 5.50% $11,066
    SUN WEST MORTGAGE COMPANY, INC. 1 6.99% $9,050
    The Federal Savings Bank 1 6.25% $19,397
    VILLAGE CAPITAL MORTGAGE 1 6.25% $11,554
    ADVISA MORTGAGE SERVICES, LTD. 1 5.88% $6,586

    The top College Station FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 82 FHA loans originated. Their average total fees are $8,706, which is $4,101 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee College Station FHA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($7,220), DHI MORTGAGE COMPANY, LTD. ($8,706), INSPIRE HOME LOANS INC. ($9,592), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,971) and QUICKEN LOANS, LLC ($11,874).

    The lowest rate College Station FHA lenders (with over 10 loans originated) are INSPIRE HOME LOANS INC. (5.26%), DHI MORTGAGE COMPANY, LTD. (5.59%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (5.83%), Sunflower Bank (6.07%) and QUICKEN LOANS, LLC (6.44%).

    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 (-9.8%) $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 $259,186 (-6.1%) $351,003 (-9.3%) 0.85 1,197
    2019-04-01 $264,925 (-3.6%) $353,458 (-8.0%) 0.84 1,265
    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 $269,791 (0.0%) $346,316 (-8.6%) 0.85 1,287
    2019-09-01 $269,627 (-0.1%) $350,779 (-9.1%) 0.86 1,270
    2019-10-01 $269,718 (-0.1%) $353,064 (-9.4%) 0.87 1,253
    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 (2.9%) $365,307 (4.1%) 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 (7.1%) 0.75 1,077
    2020-09-01 $252,450 (-6.4%) $371,992 (6.1%) 0.72 1,047
    2020-10-01 $249,900 (-7.4%) $369,951 (4.8%) 0.72 975
    2020-11-01 $247,100 (-8.5%) $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 $242,425 (-8.8%) $341,743 (-8.0%) 0.71 665
    2021-03-01 $254,369 (-4.6%) $367,714 (0.7%) 0.72 639
    2021-04-01 $271,754 (0.1%) $380,767 (4.0%) 0.74 526
    2021-05-01 $305,000 (11.5%) $442,146 (20.5%) 0.81 397
    2021-06-01 $324,950 (17.2%) $460,156 (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 (18.3%) $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 (43.4%) 0.84 324
    2022-03-01 $322,500 (26.8%) $478,989 (30.3%) 0.81 320
    2022-04-01 $329,450 (21.2%) $467,502 (22.8%) 0.79 364
    2022-05-01 $350,000 (14.8%) $506,109 (14.5%) 0.80 421
    2022-06-01 $359,450 (10.6%) $507,422 (10.3%) 0.80 561
    2022-07-01 $344,950 (5.5%) $499,669 (3.0%) 0.78 605
    2022-08-01 $352,900 (18.2%) $502,522 (16.9%) 0.82 673
    2022-09-01 $356,768 (20.7%) $504,835 (17.9%) 0.83 685
    2022-10-01 $354,900 (16.0%) $513,613 (22.9%) 0.84 737
    2022-11-01 $365,800 (25.2%) $520,340 (24.2%) 0.88 697
    2022-12-01 $370,000 (27.9%) $526,267 (23.2%) 0.91 683
    2023-01-01 $367,450 (29.0%) $518,266 (19.4%) 0.91 648
    2023-02-01 $359,950 (11.8%) $504,354 (2.9%) 0.87 642
    2023-03-01 $379,725 (17.7%) $540,957 (12.9%) 0.90 606
    2023-04-01 $399,900 (21.4%) $557,611 (19.3%) 0.93 613
    2023-05-01 $399,900 (14.3%) $551,049 (8.9%) 0.91 634
    2023-06-01 $380,000 (5.7%) $529,649 (4.4%) 0.85 708
    2023-07-01 $370,200 (7.3%) $513,633 (2.8%) 0.84 751
    2023-08-01 $370,375 (5.0%) $510,402 (1.6%) 0.85 843
    2023-09-01 $370,000 (3.7%) $502,140 (-0.5%) 0.86 899
    2023-10-01 $365,312 (2.9%) $492,545 (-4.1%) 0.86 942
    2023-11-01 $365,000 (-0.2%) $485,726 (-6.7%) 0.87 935
    2023-12-01 $364,900 (-1.4%) $489,688 (-7.0%) 0.89 882
    2024-01-01 $366,250 (-0.3%) $485,993 (-6.2%) 0.89 861
    2024-02-01 $364,900 (1.4%) $480,764 (-4.7%) 0.88 887
    2024-03-01 $365,000 (-3.9%) $492,782 (-8.9%) 0.86 960
    College Station's median listing price for 2024-03-01 was $365,000, a difference of $-14,725 (-3.9%) versus the prior year and $100 versus the prior month.

    College Station's median listing price comes in at 86% of the national average.

    College Station's average listing price for 2024-03-01 was $492,782, a difference of $-48,175 (-8.9%) versus the prior year and $12,018 versus the prior month.

    For the 2024-03-01 period, College Station had 960 MLS listings, a difference of 73 listings (8%) versus the prior month and 354 listings (58%) 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 73 days 2,083 sqft
    2018-02-01 61 days 2,008 sqft
    2018-03-01 53 days 2,007 sqft
    2018-04-01 52 days 2,000 sqft
    2018-05-01 56 days 1,980 sqft
    2018-06-01 61 days 1,961 sqft
    2018-07-01 66 days 1,980 sqft
    2018-08-01 71 days 1,976 sqft
    2018-09-01 75 days 1,978 sqft
    2018-10-01 79 days 1,931 sqft
    2018-11-01 86 days 1,913 sqft
    2018-12-01 96 days 1,911 sqft
    2019-01-01 88 days 1,895 sqft
    2019-02-01 62 days 1,863 sqft
    2019-03-01 56 days 1,876 sqft
    2019-04-01 65 days 1,904 sqft
    2019-05-01 72 days 1,939 sqft
    2019-06-01 71 days 1,939 sqft
    2019-07-01 71 days 1,947 sqft
    2019-08-01 74 days 1,958 sqft
    2019-09-01 78 days 1,956 sqft
    2019-10-01 82 days 1,955 sqft
    2019-11-01 86 days 1,955 sqft
    2019-12-01 94 days 1,935 sqft
    2020-01-01 90 days 1,900 sqft
    2020-02-01 67 days 1,900 sqft
    2020-03-01 55 days 1,881 sqft
    2020-04-01 69 days 1,906 sqft
    2020-05-01 80 days 1,911 sqft
    2020-06-01 90 days 1,905 sqft
    2020-07-01 81 days 1,858 sqft
    2020-08-01 75 days 1,856 sqft
    2020-09-01 73 days 1,818 sqft
    2020-10-01 75 days 1,794 sqft
    2020-11-01 81 days 1,759 sqft
    2020-12-01 79 days 1,764 sqft
    2021-01-01 74 days 1,752 sqft
    2021-02-01 62 days 1,766 sqft
    2021-03-01 45 days 1,789 sqft
    2021-04-01 39 days 1,826 sqft
    2021-05-01 36 days 1,945 sqft
    2021-06-01 32 days 2,021 sqft
    2021-07-01 34 days 2,049 sqft
    2021-08-01 35 days 1,892 sqft
    2021-09-01 42 days 1,869 sqft
    2021-10-01 48 days 1,889 sqft
    2021-11-01 51 days 1,852 sqft
    2021-12-01 59 days 1,850 sqft
    2022-01-01 53 days 1,854 sqft
    2022-02-01 28 days 1,957 sqft
    2022-03-01 26 days 1,859 sqft
    2022-04-01 22 days 1,884 sqft
    2022-05-01 23 days 1,956 sqft
    2022-06-01 28 days 1,987 sqft
    2022-07-01 40 days 1,953 sqft
    2022-08-01 48 days 1,949 sqft
    2022-09-01 55 days 1,949 sqft
    2022-10-01 62 days 1,934 sqft
    2022-11-01 70 days 1,962 sqft
    2022-12-01 81 days 1,962 sqft
    2023-01-01 86 days 1,958 sqft
    2023-02-01 78 days 1,930 sqft
    2023-03-01 60 days 2,002 sqft
    2023-04-01 57 days 2,041 sqft
    2023-05-01 46 days 2,026 sqft
    2023-06-01 44 days 1,948 sqft
    2023-07-01 55 days 1,897 sqft
    2023-08-01 57 days 1,925 sqft
    2023-09-01 57 days 1,911 sqft
    2023-10-01 67 days 1,888 sqft
    2023-11-01 76 days 1,889 sqft
    2023-12-01 83 days 1,887 sqft
    2024-01-01 84 days 1,896 sqft
    2024-02-01 71 days 1,886 sqft
    2024-03-01 47 days 1,893 sqft
    College Station's median listing age (time on market) for 2024-03-01 was 47 days. This is -22% shorter than the same period one year ago.

    College Station's median square footage for active listings during the 2024-03-01 period was 1,893 sqft. One year prior, the average listing was 2,002 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).