Corsicana FHA Loan Rates, Closing Costs & Stats

Corsicana, 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.

Corsicana's 44 lenders originated 158 FHA loans during 2024. The total origination value was $39,340,000, with an average FHA loan value of $248,987.

Corsicana FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Corsicana averaged 0.29% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

Corsicana's average FHA mortgage closing costs are $8,998.

The average rate for the prior week (2025-06-27) was 6.88% and one month ago for the week of 2025-05-30, the average rate was 7.05%.

The average rate one year ago was 6.97%.

For refis of the same type during the week of 2025-07-04, the average rate was 0.2%.

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

Corsicana 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 Corsicana level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
GUILD MORTGAGE COMPANY 13 6.61% $9,886
UNITED WHOLESALE MORTGAGE, LLC 12 5.97% $12,839
DHI MORTGAGE COMPANY, LTD. 12 4.59% $8,592
S1L, Inc. 10 6.75% $11,994
Equity Prime Mortgage LLC 7 6.23% $12,610
QUICKEN LOANS, LLC 6 6.31% $13,296
Trinity Oaks Mortgage, LLC 6 6.46% $12,148
TOWNE MORTGAGE COMPANY 6 5.94% $12,037
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 7.25% $13,639
EVERETT FINANCIAL, INC. 5 7.30% $9,655
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.13% $12,870
CARDINAL FINANCIAL 4 6.59% $18,714
LOANPEOPLE, LLC 3 7.50% $11,917
Gateway First Bank 3 6.63% $11,064
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.25% $10,860
Flagstar Bank, FSB 3 6.29% $9,326
CROSSCOUNTRY MORTGAGE, LLC 3 6.42% $16,450
AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 6.42% $8,972
AFFORDABLE MORTGAGE ADVISORS, LLC. 2 7.13% $11,194
GUARANTEED RATE, INC. 2 6.38% $11,140
LAKEVIEW LOAN SERVICING, LLC 2 6.50% $7,185
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 7.44% $17,045
SWBC MORTGAGE CORPORATION 2 7.38% $6,801
THE MORTGAGE LINK, INC. 2 6.00% $20,898
LOANDEPOT.COM, LLC 1 7.25% $8,715
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 6.63% $8,804
ML Mortgage Corp. 1 6.25% $12,469
NATIONS RELIABLE LENDING, LLC 1 7.13% $9,275
NFM, INC. 1 6.75% $9,917
Paramount Residential Mortgage Group, Inc. 1 5.99% $18,234
PENNYMAC LOAN SERVICES, LLC 1 5.75% $10,008
Plains Commerce Bank 1 7.38% $17,711
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $36,470
COUNTRYPLACE MORTGAGE, LTD. 1 5.75% $9,715
CMG MORTGAGE, INC. 1 7.63% $12,734
SECURITYNATIONAL MORTGAGE COMPANY 1 6.88% $12,832
SFMC, LP 1 6.63% $7,717
SUN WEST MORTGAGE COMPANY, INC. 1 8.00% $26,508
AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $6,779
WILLOW BEND MORTGAGE COMPANY, LLC 1 6.75% $13,721
Independent Bank 1 6.63% $12,473
Ixonia Bank 1 7.38% $6,331
JPMorgan Chase Bank 1 6.75% $6,716
BOKF 1 8.13% $8,973

The top Corsicana FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 13 FHA loans originated. Their average total fees are $9,886, which is $2,953 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Corsicana FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. ($8,592), GUILD MORTGAGE COMPANY ($9,886), S1L, Inc. ($11,994), UNITED WHOLESALE MORTGAGE, LLC ($12,839) and .

The lowest rate Corsicana FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (4.59%), UNITED WHOLESALE MORTGAGE, LLC (5.97%), GUILD MORTGAGE COMPANY (6.61%), S1L, Inc. (6.75%) and .

Corsicana FHA Loan Limits

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

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).