College Station FHA Loan Rates, Closing Costs & Stats

COLLEGE STATION-BRYAN, 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.

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 6.47% for the week of 2023-12-01, compared to the national average (all FHA variants) of 6.949% for the same period.

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

The average rate for the prior week (2023-11-24) was 6.68% and one month ago for the week of 2023-10-27, the average rate was 7.09%.

The average rate one year ago was 6.31%.

For refis of the same type during the week of 2023-12-01, the average rate was 5.69%.

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 $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%) 0.79 365
2022-05-01 $349,750 (14.7%) $505,628 (14.4%) 0.80 422
2022-06-01 $358,475 (10.3%) $506,095 (10.0%) 0.80 561
2022-07-01 $344,900 (5.5%) $498,776 (2.8%) 0.78 604
2022-08-01 $352,824 (18.2%) $501,698 (16.7%) 0.82 672
2022-09-01 $356,768 (20.7%) $504,002 (17.7%) 0.83 685
2022-10-01 $354,443 (15.8%) $512,908 (22.7%) 0.83 736
2022-11-01 $365,563 (25.1%) $519,970 (24.1%) 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%) $504,887 (3.0%) 0.87 641
2023-03-01 $380,950 (18.1%) $541,610 (13.1%) 0.90 605
2023-04-01 $399,900 (21.4%) $557,611 (19.3%) 0.93 613
2023-05-01 $399,900 (14.3%) $551,049 (9.0%) 0.91 634
2023-06-01 $380,000 (6.0%) $529,649 (4.7%) 0.85 708
2023-07-01 $370,200 (7.3%) $513,633 (3.0%) 0.84 751
2023-08-01 $370,375 (5.0%) $510,402 (1.7%) 0.85 843
2023-09-01 $370,000 (3.7%) $502,140 (-0.4%) 0.86 899
2023-10-01 $365,312 (3.1%) $492,545 (-4.0%) 0.86 942
2023-11-01 $365,000 (-0.2%) $485,726 (-6.6%) 0.87 935
College Station's median listing price for 2023-11-01 was $365,000, a difference of $-563 (-0.2%) versus the prior year and $-312 versus the prior month.

College Station's median listing price comes in at 87% of the national average.

College Station's average listing price for 2023-11-01 was $485,726, a difference of $-34,244 (-6.6%) versus the prior year and $-6,819 versus the prior month.

For the 2023-11-01 period, College Station had 935 MLS listings, a difference of -7 listings (-1%) versus the prior month and 238 listings (34%) 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 1,768 sqft
2021-03-01 45 days 1,790 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 1,886 sqft
2022-05-01 23 days 1,958 sqft
2022-06-01 28 days 1,987 sqft
2022-07-01 40 days 1,953 sqft
2022-08-01 48 days 1,947 sqft
2022-09-01 54 days 1,949 sqft
2022-10-01 62 days 1,932 sqft
2022-11-01 69 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 1,931 sqft
2023-03-01 61 days 2,003 sqft
2023-04-01 57 days 2,040 sqft
2023-05-01 46 days 2,024 sqft
2023-06-01 44 days 1,947 sqft
2023-07-01 55 days 1,897 sqft
2023-08-01 57 days 1,925 sqft
2023-09-01 57 days 1,912 sqft
2023-10-01 67 days 1,889 sqft
2023-11-01 76 days 1,889 sqft
College Station's median listing age (time on market) for 2023-11-01 was 76 days. This is 9% longer than the same period one year ago.

College Station's median square footage for active listings during the 2023-11-01 period was 1,889 sqft. One year prior, the average listing was 1,962 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).