Corsicana FHA Loan Rates, Closing Costs & Stats

Corsicana, 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.

    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).