Corpus Christi FHA Loan Rates, Closing Costs & Stats

CORPUS CHRISTI, 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.

    Corpus Christi's 109 lenders originated 1,157 FHA loans during 2022. The total origination value was $270,135,000, with an average FHA loan value of $233,479.

    Corpus Christi FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Corpus Christi averaged -0.6% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Corpus Christi's average FHA mortgage closing costs are $7,703.

    The average rate for the prior week (2023-11-17) was 6.9% and one month ago for the week of 2023-10-20, the average rate was 7.1%.

    The average rate one year ago was 6.23%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.3%.

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

    Corpus Christi 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 Corpus Christi level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 122 4.16% $9,695
    EVERETT FINANCIAL, INC. 121 5.28% $7,072
    GUILD MORTGAGE COMPANY 86 5.40% $11,164
    CALIBER HOME LOANS, INC. 52 4.03% $9,428
    PRIMARY RESIDENTIAL MORTGAGE, INC. 52 5.51% $8,803
    WILLOW BEND MORTGAGE COMPANY, LLC 44 4.95% $9,482
    QUICKEN LOANS, LLC 44 4.42% $10,028
    Gateway First Bank 38 5.83% $7,852
    CROSSCOUNTRY MORTGAGE, LLC 31 6.40% $10,673
    UNITED WHOLESALE MORTGAGE, LLC 30 4.92% $10,039
    AMCAP MORTGAGE, LTD. 29 5.55% $12,054
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 26 5.09% $9,842
    FREEDOM MORTGAGE CORPORATION 24 4.72% $9,521
    LOANDEPOT.COM, LLC 24 5.39% $12,218
    PRIMELENDING, A PLAINSCAPITAL COMPANY 18 5.94% $10,141
    CORNERSTONE HOME LENDING, INC. 15 5.02% $10,474
    First National Bank Texas 15 5.31% $9,267
    CARDINAL FINANCIAL 15 5.27% $12,312
    ACADEMY MORTGAGE CORPORATION 14 5.92% $11,778
    LEGEND LENDING CORPORATION 13 5.70% $14,805
    CMG MORTGAGE, INC. 10 5.41% $12,291
    HOME POINT FINANCIAL CORPORATION 9 4.94% $10,921
    GUARANTEED RATE, INC. 8 5.12% $9,143
    SUCCESS MORTGAGE PARTNERS, INC. 8 5.19% $11,269
    PENNYMAC LOAN SERVICES, LLC 8 4.14% $5,557
    SECURITYNATIONAL MORTGAGE COMPANY 7 5.11% $9,682
    SUN WEST MORTGAGE COMPANY, INC. 7 4.74% $10,767
    MID AMERICA MORTGAGE, INC. 5 5.68% $10,982
    LAKEVIEW LOAN SERVICING, LLC 5 3.49% $4,727
    MOVEMENT MORTGAGE, LLC 5 5.48% $8,634
    PANORAMA MORTGAGE GROUP, LLC 5 5.43% $11,915
    Loan Simple, Inc. 5 4.95% $12,340
    BROKER SOLUTIONS, INC. 5 5.57% $11,735
    UNION HOME MORTGAGE CORP. 4 5.72% $8,363
    Sunflower Bank 4 5.09% $9,505
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 5.97% $13,813
    PLAZA HOME MORTGAGE, INC. 4 5.13% $11,940
    SWBC MORTGAGE CORPORATION 4 5.97% $9,667
    THRIVE MORTGAGE, LLC 4 4.03% $13,589
    PILGRIM MORTGAGE LLC 4 5.00% $10,635
    AMERISAVE MORTGAGE CORPORATION 4 4.91% $11,335
    Mr. Cooper ( Nationstar Mortgage ) 4 3.97% $3,532
    GREAT WESTERN FINANCIAL SERVICES, INC. 3 4.67% $13,336
    INTERLINC MORTGAGE SERVICES, LLC 3 6.29% $6,261
    CERTAINTY HOME LOANS, LLC 3 5.33% $8,327
    Extraco Banks 3 3.42% $9,525
    Century Mortgage Company DBA Century Lending Company 3 6.04% $12,824
    DIRECTIONS EQUITY, LLC 3 6.46% $8,688
    VAN DYK MORTGAGE CORPORATION 3 5.50% $8,719
    LOANPEOPLE, LLC 3 6.21% $9,522
    ZILLOW HOME LOANS, LLC 2 4.94% $9,658
    ASPIRE FINANCIAL, INC. 2 4.25% $9,963
    CALCON MUTUAL MORTGAGE LLC 2 7.44% $11,077
    Equity Prime Mortgage LLC 2 5.50% $6,653
    FBC MORTGAGE, LLC 2 4.38% $7,884
    Flagstar Bank, FSB 2 4.69% $7,188
    Hometown Equity Mortgage, LLC 2 5.94% $10,204
    Lakeview Community Capital, LLC 2 3.69% $6,329
    LHM FINANCIAL CORPORATION 2 5.69% $8,832
    MORIA DEVELOPMENT, INC. 2 5.44% $9,077
    MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.50% $9,709
    NATIONS RELIABLE LENDING, LLC 2 3.56% $9,439
    PLANET HOME LENDING, LLC 2 6.31% $11,489
    SOUTHWEST STAGE FUNDING, LLC 2 5.06% $10,816
    Trinity Oaks Mortgage, LLC 2 3.88% $11,286
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.00% $6,302
    INFINITY MORTGAGE HOLDINGS, LLC 1 4.13% $11,541
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 4.50% $7,094
    NATIONS DIRECT MORTGAGE, LLC 1 5.63% $8,680
    VILLAGE CAPITAL MORTGAGE 1 2.75% $4,019
    Neighborhood Loans, Inc. 1 4.38% $8,592
    Network Funding, L.P. 1 6.63% $5,574
    Pacific Lending LLC 1 5.25% $7,649
    HANCOCK MORTGAGE PARTNERS, LLC 1 5.75% $10,031
    GENEVA FINANCIAL, LLC 1 5.63% $15,116
    PENTAGON FEDERAL CREDIT UNION 1 5.00% $7,997
    Peoples Bank 1 4.50% $15,666
    PHH Mortgage Corporation 1 2.88% $14,193
    First Home Bank 1 4.63% $18,139
    V.I.P. MORTGAGE, INC. 1 6.25% $10,827
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.25% $7,700
    PREMIA MORTGAGE, LLC 1 4.63% $8,093
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.25% $9,576
    Commerce Home Mortgage, Inc. 1 4.13% $8,579
    Colonial Savings, F.A. 1 6.00% $20,129
    S1L, Inc. 1 6.00% $8,137
    Citizens Bank 1 3.00% $12,629
    SENTE MORTGAGE, INC. 1 6.75% $16,864
    SOUTHWEST FUNDING, LP 1 3.88% $20,526
    Amerifirst Financial, Inc. 1 3.75% $7,322
    STARBOARD FINANCIAL MANAGEMENT, LLC 1 5.13% $15,330
    CHERRY CREEK MORTGAGE, LLC 1 5.13% $6,918
    CASTLE & COOKE MORTGAGE, LLC 1 3.88% $8,201
    Carrington Mortgage Services, LLC 1 3.38% $6,761
    CANOPY MORTGAGE, LLC 1 7.13% $13,388
    TEXAS DOW EMPLOYEES CREDIT UNION 1 4.88% $9,556
    THE MORTGAGE FIRM, INC. 1 6.75% $9,663
    BAY EQUITY LLC 1 4.63% $8,514
    Town Square Mortgage & Investments, Inc. 1 5.62% $5,065
    AMERICAN FINANCIAL RESOURCES, INC. 1 6.25% $10,165
    Austin Capital Bank SSB 1 5.25% $9,977
    UNITED MORTGAGE CORP 1 5.00% $17,360
    Atlantic Coast Mortgage, LLC 1 4.50% $7,861
    LOANPAL, LLC 1 3.75% $10,755
    LEADERONE FINANCIAL CORPORATION 1 4.13% $8,313
    MANN FINANCIAL INC. 1 6.00% $6,275
    MICHIGAN MUTUAL, INC. 1 4.63% $15,743
    JPMorgan Chase Bank 1 2.75% $4,871
    U.S. Bank 1 3.25% $8,367

    The top Corpus Christi FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 122 FHA loans originated. Their average total fees are $9,695, which is $2,622 higher than the next largest lender, EVERETT FINANCIAL, INC..

    The lowest fee Corpus Christi FHA lenders (with over 10 loans originated) are EVERETT FINANCIAL, INC. ($7,072), Gateway First Bank ($7,852), PRIMARY RESIDENTIAL MORTGAGE, INC. ($8,803), First National Bank Texas ($9,267) and CALIBER HOME LOANS, INC. ($9,428).

    The lowest rate Corpus Christi FHA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (4.03%), DHI MORTGAGE COMPANY, LTD. (4.16%), QUICKEN LOANS, LLC (4.42%), FREEDOM MORTGAGE CORPORATION (4.72%) and UNITED WHOLESALE MORTGAGE, LLC (4.92%).

    Corpus Christi FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    CORPUS CHRISTI, TX NUECES 2022 $420,680 $538,650 $651,050 $809,150
    CORPUS CHRISTI, TX SAN PATRICIO 2022 $420,680 $538,650 $651,050 $809,150
    CORPUS CHRISTI, TX NUECES 2023 $472,030 $604,400 $730,525 $907,900
    CORPUS CHRISTI, TX SAN PATRICIO 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Corpus Christi (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 $229,900 (0.1%) $293,823 (-1.2%) 0.85 1,900
    2018-02-01 $234,025 (1.2%) $294,829 (-0.9%) 0.85 1,908
    2018-03-01 $238,950 (1.7%) $304,542 (0.1%) 0.84 1,909
    2018-04-01 $239,900 (0.4%) $309,544 (-0.3%) 0.81 1,943
    2018-05-01 $239,900 (2.1%) $311,737 (1.6%) 0.80 1,946
    2018-06-01 $238,900 (1.7%) $308,836 (0.1%) 0.80 2,035
    2018-07-01 $239,000 (1.7%) $310,423 (1.0%) 0.80 2,035
    2018-08-01 $239,700 (1.1%) $309,434 (0.3%) 0.80 2,077
    2018-09-01 $239,431 (3.2%) $310,442 (2.8%) 0.81 2,085
    2018-10-01 $237,000 (3.1%) $309,902 (5.1%) 0.80 2,072
    2018-11-01 $233,950 (1.8%) $305,917 (5.2%) 0.79 2,050
    2018-12-01 $234,900 (2.2%) $305,753 (5.8%) 0.81 1,929
    2019-01-01 $237,250 (3.2%) $307,825 (4.8%) 0.82 1,888
    2019-02-01 $239,900 (2.5%) $312,260 (5.9%) 0.81 1,917
    2019-03-01 $244,066 (2.1%) $319,706 (5.0%) 0.80 1,940
    2019-04-01 $249,750 (4.1%) $327,887 (5.9%) 0.79 1,967
    2019-05-01 $249,950 (4.2%) $330,517 (6.0%) 0.78 2,032
    2019-06-01 $249,900 (4.6%) $328,481 (6.4%) 0.78 2,061
    2019-07-01 $249,900 (4.6%) $331,059 (6.7%) 0.78 2,055
    2019-08-01 $250,745 (4.6%) $332,502 (7.5%) 0.79 2,027
    2019-09-01 $252,014 (5.3%) $334,784 (7.8%) 0.81 1,985
    2019-10-01 $252,659 (6.6%) $335,811 (8.4%) 0.82 1,944
    2019-11-01 $249,000 (6.4%) $331,304 (8.3%) 0.82 1,926
    2019-12-01 $249,900 (6.4%) $332,033 (8.6%) 0.83 1,862
    2020-01-01 $249,000 (5.0%) $330,849 (7.5%) 0.83 1,775
    2020-02-01 $254,900 (6.3%) $339,841 (8.8%) 0.84 1,737
    2020-03-01 $262,974 (7.8%) $354,806 (11.0%) 0.82 1,747
    2020-04-01 $259,450 (3.9%) $354,128 (8.0%) 0.81 1,739
    2020-05-01 $269,500 (7.8%) $361,920 (9.5%) 0.82 1,575
    2020-06-01 $269,500 (7.8%) $368,837 (12.3%) 0.79 1,379
    2020-07-01 $271,950 (8.8%) $377,031 (13.9%) 0.79 1,279
    2020-08-01 $278,000 (10.9%) $376,870 (13.3%) 0.80 1,220
    2020-09-01 $279,925 (11.1%) $388,177 (16.0%) 0.80 1,186
    2020-10-01 $279,900 (10.8%) $389,667 (16.0%) 0.80 1,130
    2020-11-01 $279,675 (12.3%) $383,906 (15.9%) 0.82 1,151
    2020-12-01 $271,963 (8.8%) $380,951 (14.7%) 0.81 1,083
    2021-01-01 $269,900 (8.4%) $385,095 (16.4%) 0.81 968
    2021-02-01 $272,413 (6.9%) $385,507 (13.4%) 0.79 902
    2021-03-01 $275,000 (4.6%) $385,671 (8.7%) 0.78 827
    2021-04-01 $276,400 (6.5%) $393,138 (11.0%) 0.75 760
    2021-05-01 $292,450 (8.5%) $418,797 (15.7%) 0.78 686
    2021-06-01 $290,665 (7.9%) $421,213 (14.2%) 0.77 701
    2021-07-01 $298,000 (9.6%) $428,274 (13.6%) 0.79 831
    2021-08-01 $298,750 (7.5%) $419,218 (11.2%) 0.80 909
    2021-09-01 $289,028 (3.3%) $405,662 (4.5%) 0.77 960
    2021-10-01 $294,950 (5.4%) $404,759 (3.9%) 0.79 936
    2021-11-01 $294,723 (5.4%) $405,330 (5.6%) 0.79 887
    2021-12-01 $285,950 (5.1%) $397,165 (4.3%) 0.78 829
    2022-01-01 $289,900 (7.4%) $402,697 (4.6%) 0.78 823
    2022-02-01 $299,450 (9.9%) $426,264 (10.6%) 0.78 749
    2022-03-01 $305,200 (11.0%) $433,681 (12.5%) 0.76 733
    2022-04-01 $315,000 (14.0%) $428,787 (9.1%) 0.75 779
    2022-05-01 $331,700 (13.4%) $435,222 (3.9%) 0.76 924
    2022-06-01 $332,400 (14.4%) $440,064 (4.5%) 0.74 1,082
    2022-07-01 $320,000 (7.4%) $431,824 (0.8%) 0.72 1,329
    2022-08-01 $313,308 (4.9%) $427,462 (2.0%) 0.72 1,457
    2022-09-01 $313,036 (8.3%) $428,864 (5.7%) 0.73 1,415
    2022-10-01 $310,115 (5.1%) $429,472 (6.1%) 0.73 1,450
    2022-11-01 $310,899 (5.5%) $432,555 (6.7%) 0.75 1,498
    2022-12-01 $313,550 (9.7%) $427,184 (7.6%) 0.77 1,407
    2023-01-01 $319,000 (10.0%) $428,056 (6.3%) 0.79 1,350
    2023-02-01 $326,595 (9.1%) $445,108 (4.4%) 0.79 1,310
    2023-03-01 $331,460 (8.6%) $455,107 (4.9%) 0.78 1,342
    2023-04-01 $349,900 (11.1%) $471,407 (9.9%) 0.81 1,341
    2023-05-01 $355,620 (7.2%) $491,038 (12.8%) 0.81 1,363
    2023-06-01 $360,000 (8.3%) $495,415 (12.6%) 0.81 1,540
    2023-07-01 $356,990 (11.6%) $484,062 (12.1%) 0.81 1,597
    2023-08-01 $355,000 (13.3%) $485,398 (13.6%) 0.82 1,672
    2023-09-01 $347,910 (11.1%) $467,335 (9.0%) 0.81 1,769
    2023-10-01 $347,578 (12.1%) $468,708 (9.1%) 0.82 1,838
    Corpus Christi's median listing price for 2023-10-01 was $347,578, a difference of $37,463 (12.1%) versus the prior year and $-332 versus the prior month.

    Corpus Christi's median listing price comes in at 82% of the national average.

    Corpus Christi's average listing price for 2023-10-01 was $468,708, a difference of $39,236 (9.1%) versus the prior year and $1,373 versus the prior month.

    For the 2023-10-01 period, Corpus Christi had 1,838 MLS listings, a difference of 69 listings (4%) versus the prior month and 388 listings (27%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Corpus Christi (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 98 days 1,818 sqft
    2018-02-01 88 days 1,823 sqft
    2018-03-01 66 days 1,844 sqft
    2018-04-01 63 days 1,857 sqft
    2018-05-01 64 days 1,851 sqft
    2018-06-01 64 days 1,856 sqft
    2018-07-01 62 days 1,864 sqft
    2018-08-01 65 days 1,874 sqft
    2018-09-01 73 days 1,885 sqft
    2018-10-01 77 days 1,889 sqft
    2018-11-01 82 days 1,877 sqft
    2018-12-01 87 days 1,850 sqft
    2019-01-01 93 days 1,839 sqft
    2019-02-01 83 days 1,815 sqft
    2019-03-01 76 days 1,828 sqft
    2019-04-01 72 days 1,848 sqft
    2019-05-01 73 days 1,845 sqft
    2019-06-01 75 days 1,850 sqft
    2019-07-01 74 days 1,844 sqft
    2019-08-01 76 days 1,854 sqft
    2019-09-01 78 days 1,863 sqft
    2019-10-01 80 days 1,870 sqft
    2019-11-01 89 days 1,850 sqft
    2019-12-01 97 days 1,834 sqft
    2020-01-01 92 days 1,824 sqft
    2020-02-01 87 days 1,813 sqft
    2020-03-01 67 days 1,832 sqft
    2020-04-01 73 days 1,798 sqft
    2020-05-01 85 days 1,845 sqft
    2020-06-01 86 days 1,856 sqft
    2020-07-01 73 days 1,878 sqft
    2020-08-01 75 days 1,877 sqft
    2020-09-01 73 days 1,869 sqft
    2020-10-01 71 days 1,878 sqft
    2020-11-01 72 days 1,807 sqft
    2020-12-01 81 days 1,814 sqft
    2021-01-01 85 days 1,781 sqft
    2021-02-01 66 days 1,800 sqft
    2021-03-01 65 days 1,775 sqft
    2021-04-01 60 days 1,729 sqft
    2021-05-01 51 days 1,785 sqft
    2021-06-01 52 days 1,763 sqft
    2021-07-01 45 days 1,790 sqft
    2021-08-01 51 days 1,762 sqft
    2021-09-01 52 days 1,740 sqft
    2021-10-01 56 days 1,740 sqft
    2021-11-01 59 days 1,743 sqft
    2021-12-01 57 days 1,735 sqft
    2022-01-01 63 days 1,735 sqft
    2022-02-01 56 days 1,761 sqft
    2022-03-01 48 days 1,757 sqft
    2022-04-01 39 days 1,751 sqft
    2022-05-01 38 days 1,777 sqft
    2022-06-01 40 days 1,756 sqft
    2022-07-01 44 days 1,750 sqft
    2022-08-01 51 days 1,697 sqft
    2022-09-01 63 days 1,680 sqft
    2022-10-01 68 days 1,720 sqft
    2022-11-01 77 days 1,733 sqft
    2022-12-01 75 days 1,734 sqft
    2023-01-01 82 days 1,740 sqft
    2023-02-01 73 days 1,740 sqft
    2023-03-01 62 days 1,776 sqft
    2023-04-01 62 days 1,775 sqft
    2023-05-01 64 days 1,773 sqft
    2023-06-01 57 days 1,785 sqft
    2023-07-01 58 days 1,738 sqft
    2023-08-01 64 days 1,752 sqft
    2023-09-01 65 days 1,720 sqft
    2023-10-01 67 days 1,708 sqft
    Corpus Christi's median listing age (time on market) for 2023-10-01 was 67 days. This is -2% shorter than the same period one year ago.

    Corpus Christi's median square footage for active listings during the 2023-10-01 period was 1,708 sqft. One year prior, the average listing was 1,720 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).