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 91 lenders originated 1,169 FHA loans during 2023. The total origination value was $302,065,000, with an average FHA loan value of $258,396.

    Corpus Christi FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Corpus Christi averaged 6.62% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Corpus Christi's average FHA mortgage closing costs are $8,180.

    The average rate for the prior week (2024-04-05) was 6.55% and one month ago for the week of 2024-03-08, the average rate was 6.48%.

    The average rate one year ago was 6.02%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.77%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 168 5.45% $8,984
    CROSSCOUNTRY MORTGAGE, LLC 111 6.90% $11,663
    GARDNER FINANCIAL SERVICES, LTD. 82 6.93% $12,170
    UNITED WHOLESALE MORTGAGE, LLC 71 6.49% $11,199
    GUILD MORTGAGE COMPANY 65 6.69% $11,389
    PRIMARY RESIDENTIAL MORTGAGE, INC. 38 7.44% $11,069
    EAGLE HOME MORTGAGE, LLC 33 4.81% $9,253
    AMCAP MORTGAGE, LTD. 31 6.99% $11,291
    WILLOW BEND MORTGAGE COMPANY, LLC 23 6.72% $11,622
    PRIMELENDING, A PLAINSCAPITAL COMPANY 22 7.08% $11,180
    CMG MORTGAGE, INC. 20 6.64% $12,705
    QUICKEN LOANS, LLC 19 6.18% $12,561
    Neighborhood Loans, Inc. 18 6.81% $11,491
    LEGEND LENDING CORPORATION 16 6.94% $15,501
    NEWREZ LLC 16 6.41% $11,329
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.88% $9,611
    BROKER SOLUTIONS, INC. 13 7.17% $12,513
    CALCON MUTUAL MORTGAGE LLC 12 6.50% $15,583
    PLAZA HOME MORTGAGE, INC. 12 6.42% $14,266
    SUCCESS MORTGAGE PARTNERS, INC. 11 7.04% $10,434
    FREEDOM MORTGAGE CORPORATION 11 6.58% $12,913
    MID AMERICA MORTGAGE, INC. 11 7.07% $19,820
    Gateway First Bank 10 6.93% $13,835
    EVERETT FINANCIAL, INC. 10 6.55% $10,646
    CARDINAL FINANCIAL 9 6.49% $9,145
    ACADEMY MORTGAGE CORPORATION 8 6.17% $15,490
    UNION HOME MORTGAGE CORP. 7 7.05% $10,619
    MOVEMENT MORTGAGE, LLC 6 7.04% $11,596
    LOANDEPOT.COM, LLC 6 6.65% $13,368
    Flagstar Bank, FSB 6 6.08% $9,021
    Prosperity Bank 5 6.35% $8,773
    NFM, INC. 5 6.95% $13,220
    First National Bank Texas 5 6.30% $9,636
    Loan Simple, Inc. 5 6.80% $15,120
    Century Mortgage Company DBA Century Lending Company 5 6.35% $13,223
    Equity Prime Mortgage LLC 4 7.44% $10,965
    DAS Acquisition Company, LLC 4 7.47% $15,468
    SUN WEST MORTGAGE COMPANY, INC. 4 6.33% $13,097
    PENNYMAC LOAN SERVICES, LLC 4 5.97% $9,807
    LOANPEOPLE, LLC 4 6.56% $9,797
    Paramount Residential Mortgage Group, Inc. 3 6.75% $16,386
    Extraco Banks 3 6.83% $8,460
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.08% $10,255
    MANN FINANCIAL INC. 3 6.67% $14,518
    HOMESIDE FINANCIAL, LLC 3 6.88% $12,772
    CORNERSTONE HOME LENDING, INC. 2 6.94% $10,728
    T2 FINANCIAL LLC 2 7.69% $13,793
    THRIVE MORTGAGE, LLC 2 6.63% $9,815
    SeaTrust Mortgage Company 2 6.81% $11,029
    AMERISAVE MORTGAGE CORPORATION 2 6.00% $15,183
    V.I.P. MORTGAGE, INC. 2 6.38% $10,402
    Wallick & Volk, Inc. 2 6.00% $8,729
    Mr. Cooper ( Nationstar Mortgage ) 2 6.63% $16,237
    ZILLOW HOME LOANS, LLC 2 6.19% $14,085
    AXIA FINANCIAL, LLC 2 6.69% $13,334
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.13% $11,209
    OCMBC, INC. 2 7.31% $10,495
    BETTER MORTGAGE CORPORATION 2 5.38% $12,155
    Network Funding, L.P. 2 7.00% $18,259
    DIRECTIONS EQUITY, LLC 2 6.63% $9,321
    PENTAGON FEDERAL CREDIT UNION 2 5.31% $10,353
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.81% $12,749
    Zions Bank 1 5.63% $7,461
    EMBRACE HOME LOANS, INC. 1 6.25% $10,574
    FBC MORTGAGE, LLC 1 6.13% $16,866
    Citizens Bank 1 6.25% $7,604
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.13% $17,703
    GUARANTEED RATE, INC. 1 6.75% $8,542
    CHERRY CREEK MORTGAGE, LLC 1 6.75% $5,056
    Hamilton Mortgage Corporation 1 6.99% $15,380
    HighTechLending Inc 1 7.50% $21,582
    INTERCAP LENDING INC. 1 6.00% $10,176
    Ixonia Bank 1 5.88% $14,263
    LEADERONE FINANCIAL CORPORATION 1 6.75% $20,544
    BM Real Estate Services, Inc. 1 5.63% $18,210
    MORTGAGE FINANCIAL SERVICES, LLC 1 6.25% $12,776
    Mortgage Research Center, LLC 1 6.63% $4,567
    Nations Lending Corporation 1 7.63% $5,131
    Bank of England 1 7.50% $12,138
    PILGRIM MORTGAGE LLC 1 6.00% $16,647
    Plains Commerce Bank 1 8.25% $10,690
    Bank of America 1 5.13% $6,001
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $16,322
    Prosperity Home Mortgage, LLC 1 6.12% $13,599
    Republic State Mortgage Co. 1 7.25% $12,752
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.13% $19,114
    Simmons Bank 1 6.25% $8,185
    STOCKTON MORTGAGE CORPORATION 1 7.25% $14,994
    SWBC MORTGAGE CORPORATION 1 7.25% $10,275
    AMERICAN FINANCIAL NETWORK, INC. 1 8.25% $11,143
    Alcova Mortgage LLC 1 6.88% $10,289

    The top Corpus Christi FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 168 FHA loans originated. Their average total fees are $8,984, which is $2,679 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee Corpus Christi FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,984), EAGLE HOME MORTGAGE, LLC ($9,253), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,611), SUCCESS MORTGAGE PARTNERS, INC. ($10,434) and EVERETT FINANCIAL, INC. ($10,646).

    The lowest rate Corpus Christi FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.81%), DHI MORTGAGE COMPANY, LTD. (5.45%), QUICKEN LOANS, LLC (6.18%), NEWREZ LLC (6.41%) and PLAZA HOME MORTGAGE, INC. (6.42%).

    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%) $294,715 (-1.1%) 0.85 1,902
    2018-02-01 $234,050 (1.1%) $295,657 (-0.9%) 0.85 1,911
    2018-03-01 $239,000 (1.8%) $305,410 (0.1%) 0.84 1,911
    2018-04-01 $239,900 (0.4%) $309,569 (-0.6%) 0.81 1,943
    2018-05-01 $239,900 (2.1%) $312,554 (1.9%) 0.80 1,947
    2018-06-01 $238,900 (1.7%) $309,723 (0.3%) 0.80 2,035
    2018-07-01 $239,000 (1.7%) $311,260 (1.3%) 0.80 2,036
    2018-08-01 $239,900 (1.2%) $310,308 (0.6%) 0.80 2,076
    2018-09-01 $239,431 (3.2%) $310,540 (2.8%) 0.80 2,084
    2018-10-01 $237,000 (3.1%) $310,441 (5.3%) 0.80 2,074
    2018-11-01 $233,975 (1.8%) $306,390 (5.4%) 0.79 2,052
    2018-12-01 $234,900 (2.2%) $306,181 (5.9%) 0.81 1,932
    2019-01-01 $237,328 (3.2%) $308,286 (4.6%) 0.82 1,891
    2019-02-01 $239,900 (2.5%) $312,705 (5.8%) 0.81 1,920
    2019-03-01 $244,069 (2.1%) $320,109 (4.8%) 0.80 1,943
    2019-04-01 $249,750 (4.1%) $328,152 (6.0%) 0.79 1,969
    2019-05-01 $249,950 (4.2%) $330,691 (5.8%) 0.78 2,027
    2019-06-01 $249,900 (4.6%) $327,910 (5.9%) 0.78 2,052
    2019-07-01 $249,900 (4.6%) $330,482 (6.2%) 0.78 2,046
    2019-08-01 $250,541 (4.4%) $331,927 (7.0%) 0.79 2,018
    2019-09-01 $251,502 (5.0%) $334,214 (7.6%) 0.80 1,976
    2019-10-01 $252,018 (6.3%) $335,240 (8.0%) 0.81 1,935
    2019-11-01 $249,000 (6.4%) $330,918 (8.0%) 0.82 1,919
    2019-12-01 $249,900 (6.4%) $331,615 (8.3%) 0.83 1,855
    2020-01-01 $249,000 (4.9%) $330,368 (7.2%) 0.83 1,776
    2020-02-01 $254,900 (6.3%) $339,979 (8.7%) 0.83 1,739
    2020-03-01 $262,775 (7.7%) $354,263 (10.7%) 0.82 1,748
    2020-04-01 $259,450 (3.9%) $353,571 (7.8%) 0.81 1,738
    2020-05-01 $269,500 (7.8%) $361,300 (9.3%) 0.82 1,574
    2020-06-01 $269,475 (7.8%) $368,159 (12.3%) 0.79 1,378
    2020-07-01 $271,950 (8.8%) $376,298 (13.9%) 0.79 1,278
    2020-08-01 $278,000 (11.0%) $376,545 (13.4%) 0.80 1,220
    2020-09-01 $279,925 (11.3%) $387,501 (15.9%) 0.80 1,186
    2020-10-01 $279,900 (11.1%) $388,713 (16.0%) 0.80 1,129
    2020-11-01 $279,450 (12.2%) $383,080 (15.8%) 0.82 1,150
    2020-12-01 $271,438 (8.6%) $379,943 (14.6%) 0.81 1,082
    2021-01-01 $269,900 (8.4%) $383,935 (16.2%) 0.81 967
    2021-02-01 $272,413 (6.9%) $384,413 (13.1%) 0.79 900
    2021-03-01 $275,000 (4.7%) $384,503 (8.5%) 0.78 825
    2021-04-01 $276,400 (6.5%) $391,907 (10.8%) 0.75 758
    2021-05-01 $292,450 (8.5%) $417,585 (15.6%) 0.78 684
    2021-06-01 $290,665 (7.9%) $420,030 (14.1%) 0.77 699
    2021-07-01 $298,000 (9.6%) $426,972 (13.5%) 0.79 829
    2021-08-01 $298,750 (7.5%) $418,023 (11.0%) 0.80 908
    2021-09-01 $288,750 (3.2%) $404,513 (4.4%) 0.77 959
    2021-10-01 $295,000 (5.4%) $403,883 (3.9%) 0.79 935
    2021-11-01 $294,723 (5.5%) $404,324 (5.6%) 0.79 885
    2021-12-01 $286,475 (5.5%) $396,686 (4.4%) 0.78 828
    2022-01-01 $289,700 (7.3%) $402,728 (4.9%) 0.78 822
    2022-02-01 $299,450 (9.9%) $425,059 (10.6%) 0.78 746
    2022-03-01 $304,594 (10.8%) $432,325 (12.4%) 0.76 732
    2022-04-01 $315,000 (14.0%) $427,317 (9.0%) 0.75 777
    2022-05-01 $331,403 (13.3%) $434,008 (3.9%) 0.76 923
    2022-06-01 $330,975 (13.9%) $438,975 (4.5%) 0.74 1,081
    2022-07-01 $320,000 (7.4%) $430,965 (0.9%) 0.72 1,327
    2022-08-01 $313,000 (4.8%) $426,693 (2.1%) 0.72 1,455
    2022-09-01 $312,786 (8.3%) $428,075 (5.8%) 0.73 1,413
    2022-10-01 $310,000 (5.1%) $429,579 (6.4%) 0.73 1,448
    2022-11-01 $310,839 (5.5%) $432,710 (7.0%) 0.75 1,498
    2022-12-01 $313,550 (9.5%) $427,184 (7.7%) 0.77 1,407
    2023-01-01 $319,000 (10.1%) $428,056 (6.3%) 0.79 1,350
    2023-02-01 $326,595 (9.1%) $445,108 (4.7%) 0.79 1,310
    2023-03-01 $330,648 (8.6%) $455,245 (5.3%) 0.78 1,340
    2023-04-01 $349,900 (11.1%) $471,568 (10.4%) 0.81 1,340
    2023-05-01 $355,000 (7.1%) $491,023 (13.1%) 0.81 1,363
    2023-06-01 $360,000 (8.8%) $495,347 (12.8%) 0.81 1,540
    2023-07-01 $356,876 (11.5%) $484,062 (12.3%) 0.81 1,597
    2023-08-01 $355,000 (13.4%) $485,398 (13.8%) 0.82 1,672
    2023-09-01 $347,910 (11.2%) $467,335 (9.2%) 0.81 1,769
    2023-10-01 $347,578 (12.1%) $468,708 (9.1%) 0.82 1,838
    2023-11-01 $347,750 (11.9%) $463,255 (7.1%) 0.83 1,859
    2023-12-01 $339,995 (8.4%) $453,516 (6.2%) 0.83 1,832
    2024-01-01 $339,450 (6.4%) $449,447 (5.0%) 0.83 1,802
    2024-02-01 $335,000 (2.6%) $447,057 (0.4%) 0.81 1,836
    2024-03-01 $345,000 (4.3%) $465,226 (2.2%) 0.81 1,946
    Corpus Christi's median listing price for 2024-03-01 was $345,000, a difference of $14,352 (4.3%) versus the prior year and $10,000 versus the prior month.

    Corpus Christi's median listing price comes in at 81% of the national average.

    Corpus Christi's average listing price for 2024-03-01 was $465,226, a difference of $9,981 (2.2%) versus the prior year and $18,169 versus the prior month.

    For the 2024-03-01 period, Corpus Christi had 1,946 MLS listings, a difference of 110 listings (6%) versus the prior month and 606 listings (45%) 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 65 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 1,886 sqft
    2018-10-01 77 days 1,890 sqft
    2018-11-01 82 days 1,877 sqft
    2018-12-01 87 days 1,850 sqft
    2019-01-01 93 days 1,840 sqft
    2019-02-01 83 days 1,815 sqft
    2019-03-01 76 days 1,828 sqft
    2019-04-01 72 days 1,850 sqft
    2019-05-01 73 days 1,848 sqft
    2019-06-01 75 days 1,850 sqft
    2019-07-01 73 days 1,844 sqft
    2019-08-01 76 days 1,855 sqft
    2019-09-01 77 days 1,866 sqft
    2019-10-01 80 days 1,874 sqft
    2019-11-01 89 days 1,851 sqft
    2019-12-01 96 days 1,837 sqft
    2020-01-01 92 days 1,827 sqft
    2020-02-01 87 days 1,815 sqft
    2020-03-01 68 days 1,833 sqft
    2020-04-01 73 days 1,798 sqft
    2020-05-01 85 days 1,845 sqft
    2020-06-01 86 days 1,855 sqft
    2020-07-01 73 days 1,877 sqft
    2020-08-01 75 days 1,877 sqft
    2020-09-01 73 days 1,869 sqft
    2020-10-01 71 days 1,876 sqft
    2020-11-01 71 days 1,805 sqft
    2020-12-01 81 days 1,812 sqft
    2021-01-01 85 days 1,780 sqft
    2021-02-01 66 days 1,800 sqft
    2021-03-01 64 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 1,789 sqft
    2021-08-01 51 days 1,761 sqft
    2021-09-01 52 days 1,739 sqft
    2021-10-01 56 days 1,740 sqft
    2021-11-01 59 days 1,743 sqft
    2021-12-01 57 days 1,736 sqft
    2022-01-01 63 days 1,735 sqft
    2022-02-01 56 days 1,757 sqft
    2022-03-01 48 days 1,753 sqft
    2022-04-01 39 days 1,750 sqft
    2022-05-01 38 days 1,775 sqft
    2022-06-01 40 days 1,752 sqft
    2022-07-01 44 days 1,747 sqft
    2022-08-01 51 days 1,695 sqft
    2022-09-01 63 days 1,680 sqft
    2022-10-01 68 days 1,719 sqft
    2022-11-01 77 days 1,732 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 1,776 sqft
    2023-05-01 64 days 1,773 sqft
    2023-06-01 57 days 1,785 sqft
    2023-07-01 59 days 1,745 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
    2023-11-01 72 days 1,708 sqft
    2023-12-01 78 days 1,680 sqft
    2024-01-01 80 days 1,676 sqft
    2024-02-01 74 days 1,652 sqft
    2024-03-01 62 days 1,654 sqft
    Corpus Christi's median listing age (time on market) for 2024-03-01 was 62 days. This is 0% longer than the same period one year ago.

    Corpus Christi's median square footage for active listings during the 2024-03-01 period was 1,654 sqft. One year prior, the average listing was 1,776 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).