Dallas FHA Loan Rates, Closing Costs & Stats
Dallas-Fort Worth-Arlington, 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.
Dallas's 338 lenders originated 34,381 FHA loans during 2021. The total origination value was $8,947,295,000, with an average FHA loan value of $260,240.
Dallas FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Dallas
averaged
6.26%
for the week of 2023-01-27, compared to the national average (all FHA variants) of
6.186% for the same period.
Dallas's average FHA mortgage closing costs are $8,629.
The average rate for the prior week (2023-01-20) was
6.33% and
one month ago for the week of 2022-12-23, the
average rate was 6.52%.
The average rate one year ago was 3.61%.
For refis of the same type during the week of 2023-01-27, the average rate
was 5.79%.
Dallas 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 Dallas level.
The top Dallas FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
2,267 FHA loans originated. Their average total fees are
$8,584, which is $1,882
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Dallas FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL MORTGAGE ($2,680), OCEANSIDE MORTGAGE COMPANY ($3,437), CHERRY CREEK MORTGAGE, LLC ($4,656), Mr. Cooper ( Nationstar Mortgage ) ($4,892) and PHH Mortgage Corporation ($5,085).
The lowest rate Dallas FHA lenders (with over 10 loans originated) are
South Pacific Financial Corporation (2.56%), ASPIRE FINANCIAL, INC. (2.59%), InterContinental Capital Group, Inc (2.63%), ON Q FINANCIAL, INC. (2.64%) and Paramount Bank (2.68%).
Dallas FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| DALLAS-FORT WORTH-ARLINGTON, TX | COLLIN | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | DALLAS | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | DENTON | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | ELLIS | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | HUNT | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | JOHNSON | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | KAUFMAN | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | PARKER | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | ROCKWALL | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | TARRANT | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
| DALLAS-FORT WORTH-ARLINGTON, TX | WISE | 2022 | $450,800 | $577,100 | $697,600 | $866,950 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Dallas (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 | $354,950 (0.0%) | $496,768 (-2.5%) | 1.32 | 14,317 |
| 2018-02-01 | $369,450 (0.7%) | $519,837 (-0.8%) | 1.34 | 14,306 |
| 2018-03-01 | $374,330 (0.1%) | $528,313 (-2.6%) | 1.31 | 15,283 |
| 2018-04-01 | $378,721 (-0.3%) | $537,033 (-3.0%) | 1.28 | 16,642 |
| 2018-05-01 | $384,950 (0.8%) | $543,163 (-1.7%) | 1.29 | 18,234 |
| 2018-06-01 | $374,900 (0.0%) | $525,196 (-2.8%) | 1.25 | 20,162 |
| 2018-07-01 | $366,000 (-0.7%) | $511,290 (-2.3%) | 1.22 | 22,057 |
| 2018-08-01 | $350,000 (-2.0%) | $486,561 (-2.3%) | 1.17 | 22,552 |
| 2018-09-01 | $347,118 (-0.8%) | $482,982 (-2.8%) | 1.16 | 22,653 |
| 2018-10-01 | $345,000 (-1.6%) | $482,501 (-3.3%) | 1.17 | 22,820 |
| 2018-11-01 | $344,900 (-1.5%) | $482,686 (-2.9%) | 1.17 | 22,380 |
| 2018-12-01 | $339,990 (-2.9%) | $476,789 (-3.4%) | 1.17 | 20,551 |
| 2019-01-01 | $339,945 (-4.2%) | $472,039 (-5.0%) | 1.17 | 19,006 |
| 2019-02-01 | $347,450 (-6.0%) | $486,374 (-6.4%) | 1.17 | 19,532 |
| 2019-03-01 | $353,714 (-5.5%) | $497,762 (-5.8%) | 1.16 | 20,212 |
| 2019-04-01 | $360,000 (-4.9%) | $508,641 (-5.3%) | 1.14 | 21,066 |
| 2019-05-01 | $364,369 (-5.4%) | $507,995 (-6.5%) | 1.14 | 22,317 |
| 2019-06-01 | $359,122 (-4.2%) | $503,320 (-4.2%) | 1.12 | 23,946 |
| 2019-07-01 | $355,123 (-3.0%) | $493,654 (-3.5%) | 1.11 | 24,769 |
| 2019-08-01 | $347,920 (-0.6%) | $481,577 (-1.0%) | 1.10 | 24,744 |
| 2019-09-01 | $344,815 (-0.7%) | $477,864 (-1.1%) | 1.10 | 24,357 |
| 2019-10-01 | $343,995 (-0.3%) | $477,142 (-1.1%) | 1.11 | 23,848 |
| 2019-11-01 | $342,900 (-0.6%) | $476,134 (-1.4%) | 1.12 | 22,184 |
| 2019-12-01 | $337,450 (-0.8%) | $469,546 (-1.5%) | 1.13 | 19,666 |
| 2020-01-01 | $335,985 (-1.2%) | $466,298 (-1.2%) | 1.12 | 17,983 |
| 2020-02-01 | $340,000 (-2.1%) | $474,793 (-2.4%) | 1.11 | 17,679 |
| 2020-03-01 | $329,000 (-7.0%) | $449,480 (-9.7%) | 1.03 | 19,706 |
| 2020-04-01 | $339,995 (-5.6%) | $471,106 (-7.4%) | 1.06 | 18,656 |
| 2020-05-01 | $350,000 (-3.9%) | $497,354 (-2.1%) | 1.06 | 18,843 |
| 2020-06-01 | $359,000 (0.0%) | $514,773 (2.3%) | 1.06 | 17,018 |
| 2020-07-01 | $360,000 (1.4%) | $523,070 (6.0%) | 1.04 | 15,906 |
| 2020-08-01 | $360,000 (3.5%) | $531,235 (10.3%) | 1.03 | 14,784 |
| 2020-09-01 | $361,500 (4.8%) | $542,635 (13.6%) | 1.04 | 13,643 |
| 2020-10-01 | $359,000 (4.4%) | $549,365 (15.1%) | 1.03 | 12,784 |
| 2020-11-01 | $361,450 (5.4%) | $559,376 (17.5%) | 1.06 | 11,231 |
| 2020-12-01 | $357,344 (5.9%) | $558,381 (18.9%) | 1.06 | 9,470 |
| 2021-01-01 | $350,000 (4.2%) | $551,280 (18.2%) | 1.04 | 8,130 |
| 2021-02-01 | $359,450 (5.7%) | $577,093 (21.6%) | 1.05 | 6,281 |
| 2021-03-01 | $363,720 (10.6%) | $576,970 (28.4%) | 1.03 | 5,884 |
| 2021-04-01 | $375,000 (10.3%) | $592,924 (25.9%) | 1.02 | 5,747 |
| 2021-05-01 | $380,000 (8.6%) | $581,705 (17.0%) | 1.01 | 6,069 |
| 2021-06-01 | $389,450 (8.5%) | $589,137 (14.5%) | 1.03 | 7,002 |
| 2021-07-01 | $395,000 (9.7%) | $575,238 (10.0%) | 1.04 | 8,444 |
| 2021-08-01 | $399,000 (10.8%) | $564,889 (6.3%) | 1.06 | 9,294 |
| 2021-09-01 | $398,180 (10.2%) | $562,288 (3.6%) | 1.06 | 8,970 |
| 2021-10-01 | $399,000 (11.1%) | $574,797 (4.6%) | 1.06 | 8,311 |
| 2021-11-01 | $400,000 (10.7%) | $583,159 (4.3%) | 1.07 | 7,393 |
| 2021-12-01 | $400,000 (11.9%) | $583,580 (4.5%) | 1.08 | 6,299 |
| 2022-01-01 | $400,000 (14.3%) | $596,340 (8.2%) | 1.08 | 4,936 |
| 2022-02-01 | $410,875 (14.3%) | $638,974 (10.7%) | 1.07 | 4,180 |
| 2022-03-01 | $425,000 (16.9%) | $655,947 (13.7%) | 1.06 | 4,587 |
| 2022-04-01 | $440,000 (17.3%) | $672,363 (13.4%) | 1.05 | 5,456 |
| 2022-05-01 | $474,859 (25.0%) | $677,637 (16.5%) | 1.09 | 8,108 |
| 2022-06-01 | $488,781 (25.5%) | $672,310 (14.1%) | 1.09 | 11,304 |
| 2022-07-01 | $479,900 (21.5%) | $643,738 (11.9%) | 1.09 | 14,865 |
| 2022-08-01 | $462,500 (15.9%) | $617,695 (9.4%) | 1.07 | 16,558 |
| 2022-09-01 | $453,503 (13.9%) | $611,044 (8.7%) | 1.06 | 16,532 |
| 2022-10-01 | $449,999 (12.8%) | $612,347 (6.5%) | 1.06 | 17,494 |
| 2022-11-01 | $447,390 (11.9%) | $610,144 (4.6%) | 1.08 | 17,906 |
| 2022-12-01 | $435,213 (8.8%) | $596,604 (2.2%) | 1.09 | 16,429 |
Dallas's median listing price comes in at 109% of the national average.
Dallas's average listing price for 2022-12-01 was $596,604, a difference of $13,024 (2.2%) versus the prior year and $-13,540 versus the prior month.
For the 2022-12-01 period, Dallas had 16,429 MLS listings, a difference of -1,477 listings (-8%) versus the prior month and 10,130 listings (161%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Dallas (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 65 days | 2,590 sqft |
| 2018-02-01 | 51 days | 2,634 sqft |
| 2018-03-01 | 43 days | 2,643 sqft |
| 2018-04-01 | 40 days | 2,675 sqft |
| 2018-05-01 | 37 days | 2,721 sqft |
| 2018-06-01 | 39 days | 2,672 sqft |
| 2018-07-01 | 41 days | 2,627 sqft |
| 2018-08-01 | 48 days | 2,551 sqft |
| 2018-09-01 | 53 days | 2,515 sqft |
| 2018-10-01 | 57 days | 2,498 sqft |
| 2018-11-01 | 60 days | 2,469 sqft |
| 2018-12-01 | 67 days | 2,437 sqft |
| 2019-01-01 | 69 days | 2,414 sqft |
| 2019-02-01 | 58 days | 2,438 sqft |
| 2019-03-01 | 47 days | 2,474 sqft |
| 2019-04-01 | 45 days | 2,507 sqft |
| 2019-05-01 | 45 days | 2,521 sqft |
| 2019-06-01 | 48 days | 2,515 sqft |
| 2019-07-01 | 50 days | 2,490 sqft |
| 2019-08-01 | 52 days | 2,439 sqft |
| 2019-09-01 | 54 days | 2,416 sqft |
| 2019-10-01 | 57 days | 2,404 sqft |
| 2019-11-01 | 59 days | 2,397 sqft |
| 2019-12-01 | 66 days | 2,350 sqft |
| 2020-01-01 | 68 days | 2,327 sqft |
| 2020-02-01 | 54 days | 2,337 sqft |
| 2020-03-01 | 44 days | 2,305 sqft |
| 2020-04-01 | 51 days | 2,327 sqft |
| 2020-05-01 | 53 days | 2,392 sqft |
| 2020-06-01 | 47 days | 2,403 sqft |
| 2020-07-01 | 46 days | 2,396 sqft |
| 2020-08-01 | 45 days | 2,368 sqft |
| 2020-09-01 | 46 days | 2,319 sqft |
| 2020-10-01 | 47 days | 2,294 sqft |
| 2020-11-01 | 49 days | 2,253 sqft |
| 2020-12-01 | 53 days | 2,202 sqft |
| 2021-01-01 | 52 days | 2,154 sqft |
| 2021-02-01 | 42 days | 2,149 sqft |
| 2021-03-01 | 39 days | 2,152 sqft |
| 2021-04-01 | 30 days | 2,147 sqft |
| 2021-05-01 | 30 days | 2,170 sqft |
| 2021-06-01 | 29 days | 2,172 sqft |
| 2021-07-01 | 28 days | 2,172 sqft |
| 2021-08-01 | 31 days | 2,176 sqft |
| 2021-09-01 | 36 days | 2,166 sqft |
| 2021-10-01 | 37 days | 2,153 sqft |
| 2021-11-01 | 39 days | 2,152 sqft |
| 2021-12-01 | 43 days | 2,147 sqft |
| 2022-01-01 | 41 days | 2,121 sqft |
| 2022-02-01 | 32 days | 2,105 sqft |
| 2022-03-01 | 25 days | 2,117 sqft |
| 2022-04-01 | 23 days | 2,153 sqft |
| 2022-05-01 | 22 days | 2,249 sqft |
| 2022-06-01 | 22 days | 2,304 sqft |
| 2022-07-01 | 29 days | 2,285 sqft |
| 2022-08-01 | 35 days | 2,261 sqft |
| 2022-09-01 | 43 days | 2,249 sqft |
| 2022-10-01 | 45 days | 2,246 sqft |
| 2022-11-01 | 49 days | 2,241 sqft |
| 2022-12-01 | 59 days | 2,215 sqft |
Dallas's median square footage for active listings during the 2022-12-01 period was 2,215 sqft. One year prior, the average listing was 2,147 sqft.