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 321 lenders originated 22,035 FHA loans during 2023. The total origination value was $7,284,605,000, with an average FHA loan value of $330,592.

Dallas FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Dallas averaged -0.2% for the week of 2024-06-21, compared to the national average (all FHA variants) of 0% for the same period.

Dallas's average FHA mortgage closing costs are $9,716.

The average rate for the prior week (2024-06-14) was 6.49% and one month ago for the week of 2024-05-17, the average rate was 6.64%.

The average rate one year ago was 6.62%.

For refis of the same type during the week of 2024-06-21, the average rate was -0.04%.

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

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.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
DHI MORTGAGE COMPANY, LTD. 2,807 5.41% $10,532
EAGLE HOME MORTGAGE, LLC 1,515 4.87% $9,079
UNITED WHOLESALE MORTGAGE, LLC 1,357 6.35% $14,754
EVERETT FINANCIAL, INC. 808 6.81% $13,440
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 748 6.73% $13,990
LOANDEPOT.COM, LLC 676 6.52% $12,614
Town Square Mortgage & Investments, Inc. 638 6.74% $11,667
CARDINAL FINANCIAL 626 6.58% $15,748
QUICKEN LOANS, LLC 622 6.26% $14,485
SFMC, LP 590 6.63% $15,905
GUILD MORTGAGE COMPANY 382 6.84% $14,462
AMCAP MORTGAGE, LTD. 369 6.45% $14,820
VELOCIO MORTGAGE L.L.C. 327 5.80% $13,267
ARK-LA-TEX FINANCIAL SERVICES, LLC. 316 6.58% $12,089
GUARANTEED RATE, INC. 303 6.44% $15,121
CROSSCOUNTRY MORTGAGE, LLC 281 6.84% $16,014
PULTE MORTGAGE LLC 277 5.80% $10,128
Republic State Mortgage Co. 239 6.10% $12,426
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 235 6.80% $16,551
PRIMELENDING, A PLAINSCAPITAL COMPANY 235 6.40% $18,636
HOMESIDE FINANCIAL, LLC 234 5.99% $17,776
Paramount Residential Mortgage Group, Inc. 204 6.55% $15,723
CMG MORTGAGE, INC. 168 6.45% $16,523
Neighborhood Loans, Inc. 154 6.96% $14,704
SECURITYNATIONAL MORTGAGE COMPANY 153 6.84% $14,042
CORNERSTONE HOME LENDING, INC. 149 6.27% $19,471
MORTGAGE FINANCIAL SERVICES, LLC 125 6.81% $15,533
Plains Commerce Bank 123 6.61% $14,652
PLAZA HOME MORTGAGE, INC. 122 6.15% $15,380
FREEDOM MORTGAGE CORPORATION 113 6.42% $16,061
THE MORTGAGE LINK, INC. 111 6.67% $17,502
First United Bank and Trust Company 108 6.76% $15,446
Equity Prime Mortgage LLC 100 6.96% $16,323
AMERICAN FINANCIAL NETWORK, INC. 97 7.00% $16,307
BROKER SOLUTIONS, INC. 96 6.63% $15,293
Independent Bank 96 6.54% $13,825
PENNYMAC LOAN SERVICES, LLC 94 6.23% $14,834
S1L, Inc. 91 6.50% $14,384
M/I FINANCIAL, LLC 89 6.44% $15,409
NEWREZ LLC 87 6.65% $12,976
CALCON MUTUAL MORTGAGE LLC 86 6.81% $17,456
NATIONS RELIABLE LENDING, LLC 83 6.52% $17,489
SUN WEST MORTGAGE COMPANY, INC. 82 6.63% $13,191
BROOKHOLLOW MORTGAGE SERVICES, LTD 81 6.35% $16,225
Century Mortgage Company DBA Century Lending Company 78 6.44% $16,093
DAS Acquisition Company, LLC 76 6.63% $16,869
Flagstar Bank, FSB 75 6.62% $13,223
BancorpSouth 74 6.55% $11,011
THRIVE MORTGAGE, LLC 73 6.31% $20,404
PLANET HOME LENDING, LLC 73 6.43% $15,423
UNION HOME MORTGAGE CORP. 72 6.84% $14,882
Sunflower Bank 69 6.08% $13,366
JPMorgan Chase Bank 69 6.44% $8,023
K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 66 6.16% $16,592
MID AMERICA MORTGAGE, INC. 64 6.90% $7,320
Trinity Oaks Mortgage, LLC 62 6.43% $17,778
ACADEMY MORTGAGE CORPORATION 61 6.68% $14,845
GARDNER FINANCIAL SERVICES, LTD. 60 6.42% $16,653
Gateway First Bank 59 6.77% $12,040
Prosperity Home Mortgage, LLC 57 6.70% $13,252
INTEGRITY MORTGAGE CORPORATION OF TEXAS 55 6.33% $13,977
BECKAM FUNDING CORP. 55 7.15% $21,282
Loan Simple, Inc. 54 6.83% $16,932
GUARANTEED RATE AFFINITY, LLC 53 6.70% $14,490
MOVEMENT MORTGAGE, LLC 52 6.64% $14,933
INSPIRE HOME LOANS INC. 51 5.73% $11,396
Network Funding, L.P. 45 6.81% $14,298
SUCCESS MORTGAGE PARTNERS, INC. 44 7.01% $13,769
EUSTIS AND AMERICAN MORTGAGE COMPANY 43 6.73% $14,401
FIRST CONTINENTAL MORTGAGE, LTD. 43 5.91% $8,711
HOMEBRIDGE FINANCIAL SERVICES, INC. 42 6.40% $15,372
AMERICAN PACIFIC MORTGAGE CORPORATION 42 6.80% $15,149
OPEN MORTGAGE, LLC 40 6.66% $15,153
CLM MORTGAGE, INC 40 5.92% $14,196
OCMBC, INC. 40 7.21% $15,679
T2 FINANCIAL LLC 38 6.52% $15,402
SWBC MORTGAGE CORPORATION 38 6.85% $11,371
City Bank 37 6.46% $14,009
Waterstone Mortgage Corporation 36 6.57% $13,528
Nations Lending Corporation 36 6.55% $12,001
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 35 6.88% $14,392
INTERLINC MORTGAGE SERVICES, LLC 35 6.61% $14,678
WILLOW BEND MORTGAGE COMPANY, LLC 34 6.79% $15,261
SENTE MORTGAGE, INC. 33 6.71% $13,057
NFM, INC. 33 6.66% $17,753
ZILLOW HOME LOANS, LLC 32 6.22% $13,092
CRESTMARK MORTGAGE COMPANY, LTD. 32 6.55% $12,272
BOKF 32 6.95% $11,770
GENEVA FINANCIAL, LLC 31 6.54% $17,407
First Bank 31 6.27% $17,559
MATTAMY HOME FUNDING, LLC 31 5.93% $12,646
MORTGAGE SOLUTIONS OF COLORADO, LLC 31 7.23% $13,920
CITY FIRST MORTGAGE SERVICES, L.L.C. 29 6.87% $14,550
NBH Bank 29 7.16% $10,354
CHURCHILL MORTGAGE CORPORATION 28 6.67% $16,036
CHERRY CREEK MORTGAGE, LLC 28 6.90% $4,908
SUMMIT FUNDING, INC. 28 6.53% $16,706
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 27 6.81% $15,964
V.I.P. MORTGAGE, INC. 26 6.63% $16,832
BM Real Estate Services, Inc. 26 6.85% $14,242
South Pacific Financial Corporation 26 6.12% $12,974
AMERISAVE MORTGAGE CORPORATION 26 6.05% $18,342
Prosperity Bank 26 6.31% $11,209
Mortgage Research Center, LLC 25 6.58% $10,554
Citizens Bank 24 6.62% $13,185
CALIBER HOME LOANS, INC. 23 6.65% $11,630
Bank of England 23 6.81% $14,353
TOWNE MORTGAGE COMPANY 22 6.33% $13,563
VILLAGE CAPITAL MORTGAGE 22 6.60% $10,419
Carrington Mortgage Services, LLC 21 6.85% $14,617
Origin Bank 21 6.81% $11,280
AMERICAN PORTFOLIO MORTGAGE CORPORATION 20 7.23% $11,976
PRIMARY RESIDENTIAL MORTGAGE, INC. 20 6.78% $16,233
PRIORITY HOME MORTGAGE, L.P. 20 6.30% $9,106
Affiliated Bank 20 7.03% $12,515
MUTUAL OF OMAHA MORTGAGE, INC. 19 6.54% $13,740
LAND HOME FINANCIAL SERVICES, INC. 19 7.16% $19,036
Mr. Cooper ( Nationstar Mortgage ) 19 6.40% $15,469
NBKC BANK 18 6.03% $11,606
JET HOMELOANS, LLC 18 5.77% $19,351
Bank of America 17 6.24% $10,856
PENTAGON FEDERAL CREDIT UNION 17 5.42% $13,728
PANORAMA MORTGAGE GROUP, LLC 17 6.68% $14,386
BAY EQUITY LLC 16 6.77% $14,287
MICHIGAN MUTUAL, INC. 16 6.58% $18,809
AmeriHome Mortgage Company, LLC 16 6.25% $14,439
American Mortgage & Equity Consultants, Inc. 16 6.68% $14,410
Midwest Mortgage Associates Corporation 16 6.92% $13,665
Colonial Savings, F.A. 16 6.48% $12,951
Encompass Lending Group, LP 15 6.89% $14,752
RESIDENTIAL BANCORP 15 6.48% $16,768
MEMBER FIRST MORTGAGE, LLC 14 6.29% $14,043
KBHS HOME LOANS, LLC 14 6.36% $18,226
Simmons Bank 14 6.23% $10,761
AMERICAN FINANCIAL RESOURCES, INC. 13 6.75% $13,378
First State Bank 13 6.48% $18,825
First Financial Bank 13 6.38% $12,254
ASPIRE FINANCIAL, INC. 13 5.91% $12,188
The Loan Store, Inc. 13 6.82% $14,871
Magnolia Bank 12 6.44% $15,820
Texas Mortgage Lending, LLC 11 6.50% $15,115
DRAPER AND KRAMER MORTGAGE CORP. 11 6.68% $15,369
MANN FINANCIAL INC. 11 6.76% $17,137
U.S. Bank 11 6.52% $10,561
AXIA FINANCIAL, LLC 10 6.75% $15,768
Centennial Bank 10 7.40% $10,530
Strong Home Mortgage, LLC 10 6.10% $13,086
Truist 10 6.08% $16,133
American National Bank & Trust 10 6.33% $18,247
Northpointe Bank 9 6.31% $16,161
NATIONS DIRECT MORTGAGE, LLC 9 6.65% $14,867
First National Bank Texas 9 6.44% $11,974
Regions Bank 9 6.14% $15,570
INTERCAP LENDING INC. 9 6.11% $17,150
NexBank 9 6.25% $15,083
FC LENDING, LTD. 8 6.08% $10,042
Wells Fargo Bank 8 5.59% $8,250
LOANPEOPLE, LLC 8 6.94% $17,003
LHM FINANCIAL CORPORATION 8 6.13% $12,841
Sierra Pacific Mortgage Company, Inc. 8 6.56% $15,516
American Bank of Commerce 8 6.31% $13,663
Hometown Equity Mortgage, LLC 8 6.89% $12,842
RED DIAMOND HOME LOANS, LLC 7 6.52% $13,364
SeaTrust Mortgage Company 7 6.59% $15,281
TruHome Solutions, LLC 7 6.05% $13,023
ML Mortgage Corp. 7 7.25% $16,594
PREMIA MORTGAGE, LLC 7 5.98% $12,306
Vellum Mortgage, Inc. 7 6.32% $11,599
Victorian Finance, LLC 7 6.96% $12,174
Renasant Bank 6 6.64% $17,773
First National Bank 6 6.29% $11,950
Ixonia Bank 6 7.21% $14,125
CANOPY MORTGAGE, LLC 6 6.13% $15,343
PNC Bank 6 6.50% $8,180
DATCU 6 6.21% $9,195
NTFN, INC. 6 6.25% $16,903
HOMESPIRE MORTGAGE CORPORATION 5 6.30% $14,631
CASTLE & COOKE MORTGAGE, LLC 5 6.90% $16,566
The Federal Savings Bank 5 6.53% $14,995
MOUNTAIN WEST FINANCIAL, INC. 5 7.15% $13,173
PREMIER MORTGAGE RESOURCES, L.L.C. 5 7.38% $15,045
Preston Home Loans Inc 5 6.75% $18,165
COMPASS MORTGAGE, INC. 5 6.62% $10,028
Commerce Home Mortgage, Inc. 5 7.18% $10,488
FIRST COMMUNITY MORTGAGE, INC. 5 6.75% $13,802
First Option Mortgage, LLC 5 6.65% $16,858
AHL FUNDING 4 7.06% $23,836
BAYSHORE MORTGAGE FUNDING, LLC 4 6.25% $16,403
Barrington Bank & Trust Company, N.A. 4 6.97% $10,388
Ameris Bank 4 6.47% $16,660
AMERICAN FINANCING CORPORATION 4 6.09% $14,910
UNION SQUARE 4 5.91% $10,947
FIRST CENTENNIAL MORTGAGE CORPORATION 4 6.41% $11,094
VAN DYK MORTGAGE CORPORATION 4 6.50% $10,365
NATIONWIDE MORTGAGE BANKERS, INC. 4 6.72% $14,401
Great Plains National Bank 4 6.25% $11,462
Farmers Bank & Trust Company 4 6.41% $12,318
ENCORE BANK 4 7.09% $12,314
ON Q FINANCIAL, INC. 4 6.78% $11,314
PACIFIC RESIDENTIAL MORTGAGE, LLC 4 6.81% $12,859
PILGRIM MORTGAGE LLC 4 6.03% $17,611
Cornerstone First Mortgage, Inc 4 6.91% $16,283
RADIUS FINANCIAL GROUP INC. 4 7.09% $12,974
JMAC LENDING, INC. 3 6.04% $14,538
LEGEND LENDING CORPORATION 3 6.17% $21,405
First Horizon Bank 3 6.63% $10,305
LEADERONE FINANCIAL CORPORATION 3 6.25% $14,927
Keystone Funding, Inc. 3 6.67% $18,709
F & M Bank 3 6.79% $11,998
LIBERTY HOME MORTGAGE CORPORATION 3 7.25% $14,706
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 6.54% $17,589
Commercial Bank of Texas 3 5.92% $13,543
TIB The Independent Bankersbank 3 7.17% $11,068
UNIVERSITY Federal Credit Union 3 6.67% $12,962
UMB Bank 3 6.08% $12,289
Florida Capital Bank 3 6.58% $16,876
RANLIFE, INC. 3 6.58% $12,318
CORNERSTONE MORTGAGE PARTNERS OF TEXAS, L.P. 3 5.83% $19,184
First Liberty Bank 3 6.38% $12,374
ENDEAVOR CAPITAL, LLC. 3 6.96% $10,968
North American Savings Bank, F.S.B. 3 5.46% $10,473
United Fidelity Funding Corp. 3 6.66% $18,032
Wallick & Volk, Inc. 3 6.92% $10,309
Watermark Capital, Inc. 3 6.29% $11,655
A&D Mortgage LLC 2 6.44% $21,948
First Federal Bank 2 6.06% $27,206
ASSOCIATED MORTGAGE CORPORATION 2 5.88% $14,844
Community First National Bank 2 6.50% $12,061
Acre Mortgage and Financial Inc 2 7.44% $13,074
SOUTHWEST STAGE FUNDING, LLC 2 6.56% $7,442
JMJ FINANCIAL GROUP 2 6.69% $12,310
LAKEVIEW LOAN SERVICING, LLC 2 6.50% $18,582
INTELLILOAN, INC. 2 6.81% $6,606
Amarillo National Bank 2 6.44% $11,421
HOMETRUST MORTGAGE COMPANY 2 6.25% $11,686
ALAMEDA MORTGAGE CORPORATION 2 6.31% $11,973
TEXAS TECH 2 6.69% $18,566
Willamette Valley Bank 2 6.38% $13,585
Chambers Bank 2 6.56% $11,376
HALLMARK HOME MORTGAGE, LLC 2 7.00% $14,217
Trustmark National Bank 2 6.13% $9,186
ENVOY MORTGAGE, LTD 2 7.06% $13,170
FIRST COLONY MORTGAGE CORPORATION 2 7.13% $10,314
Towne Bank 2 6.13% $11,943
TOTAL MORTGAGE SERVICES, LLC 2 6.19% $10,360
GEO-CORP, INC. 2 7.69% $16,291
ONY GLO, INC. 2 6.12% $15,196
EMBRACE HOME LOANS, INC. 2 6.19% $10,809
EECU 2 6.63% $16,113
BELEM SERVICING LLC 2 6.62% $13,974
TJC Mortgage, Inc. 2 6.69% $16,948
DIRECTIONS EQUITY, LLC 2 7.81% $16,137
BETTER MORTGAGE CORPORATION 2 6.31% $12,136
Integrity Home Mortgage Corp 2 7.31% $21,935
AmRes Corporation 2 6.69% $14,362
BNC National Bank 2 5.00% $24,274
First United Bank 2 6.88% $10,694
DATA MORTGAGE, INC. 1 7.13% $10,986
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.75% $11,028
Guaranty Bank & Trust, N.A. 1 6.75% $12,897
Goldwater Bank, N.A. 1 6.75% $12,739
GMFS LLC 1 6.63% $16,949
INTERCOASTAL MORTGAGE COMPANY 1 5.25% $12,033
GERSHMAN INVESTMENT CORP. 1 6.50% $9,642
INTERNATIONAL CITY MORTGAGE, INC. 1 6.75% $14,004
INTERSTATE HOME LOAN CENTER, INC. 1 6.38% $14,326
Inwood National Bank 1 7.13% $9,343
JET DIRECT FUNDING CORP 1 5.99% $17,247
Franklin Loan Corporation 1 6.25% $11,308
Kwik Mortgage Corporation 1 6.63% $17,382
FLAT BRANCH MORTGAGE, INC. 1 6.75% $10,431
Flanagan State Bank 1 6.00% $7,764
LOANLEADERS OF AMERICA, INC. 1 6.50% $16,001
FirstTrust Home Loans, Inc. 1 7.25% $21,888
MASON MCDUFFIE MORTGAGE CORPORATION 1 5.75% $13,378
First Savings Bank 1 7.25% $22,466
First National Bank of Omaha 1 6.50% $13,651
MidFirst Bank 1 6.00% $9,977
MLB RESIDENTIAL LENDING, LLC 1 6.88% $13,790
MORIA DEVELOPMENT, INC. 1 7.00% $17,750
MORTGAGE ACCESS CORP. 1 7.75% $12,003
FIRST INTEGRITY MORTGAGE SERVICES, INC. 1 6.75% $17,621
First-Citizens Bank & Trust Company 1 6.25% $16,897
MY MORTGAGE, INC. 1 7.25% $15,834
First Bank 1 7.13% $11,884
FIDELITY BANK 1 6.63% $22,973
Evolve Bank & Trust 1 7.13% $6,653
NORWICH COMMERCIAL GROUP, INC. 1 7.75% $21,990
Notre Dame Federal Credit Union Corporation 1 7.50% $8,565
NOVA FINANCIAL & INVESTMENT CORPORATION 1 7.38% $9,690
East Coast Capital Corp. 1 6.25% $13,378
PINNACLE LENDING GROUP, INC. 1 6.75% $11,209
HOME FINANCING UNLIMITED, INC. 1 6.00% $17,799
PLUS RELOCATION MORTGAGE, LLC 1 7.25% $9,815
PREMIER LENDING, INC. 1 7.63% $19,955
Princeton Mortgage Corporation 1 6.50% $12,735
PROPER RATE, LLC 1 7.25% $12,816
CITYWIDE HOME LOANS, LLC 1 5.75% $18,808
Chickasaw Community Bank 1 6.13% $8,872
Quontic Bank 1 6.63% $15,788
RUOFF MORTGAGE COMPANY, INC. 1 7.25% $4,286
BAY-VALLEY MORTGAGE GROUP 1 6.38% $24,040
SIRVA MORTGAGE, INC. 1 6.75% $8,676
SIWELL, INC. 1 6.88% $12,442
Southside Bank 1 7.50% $11,085
STANDARD MORTGAGE CORPORATION 1 6.13% $13,352
Stride Bank 1 6.50% $14,084
Atlantic Coast Mortgage, LLC 1 6.63% $11,244
Assurance Financial Group, L.L.C. 1 6.75% $8,906
Armed Forces Bank 1 5.75% $14,620
1ST 2ND MORTGAGE COMPANY OF N.J., INC. 1 5.88% $11,263
The Central Trust Bank 1 5.63% $10,015
THOMPSON KANE & COMPANY, LLC 1 6.50% $15,218
American Mortgage Bank, LLC 1 7.50% $12,493
AMERICAN FEDERAL MORTGAGE CORPORATION 1 5.75% $13,367
UNITED SECURITY FINANCIAL CORP 1 7.00% $22,288
ABSOLUTE HOME MORTGAGE CORPORATION 1 5.88% $23,363
US MORTGAGE CORPORATION 1 7.13% $12,381
VANDERBILT MORTGAGE AND FINANCE, INC. 1 5.63% $10,980
ALTITUDE FINANCIAL CORPORATION 1 6.63% $14,064
Hawthorn Bank 1 5.25% $7,731

The top Dallas FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 2,807 FHA loans originated. Their average total fees are $10,532, which is $1,453 higher than the next largest lender, EAGLE HOME MORTGAGE, LLC.

The lowest fee Dallas FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($4,908), MID AMERICA MORTGAGE, INC. ($7,320), JPMorgan Chase Bank ($8,023), FIRST CONTINENTAL MORTGAGE, LTD. ($8,711) and EAGLE HOME MORTGAGE, LLC ($9,079).

The lowest rate Dallas FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.87%), DHI MORTGAGE COMPANY, LTD. (5.41%), PENTAGON FEDERAL CREDIT UNION (5.42%), INSPIRE HOME LOANS INC. (5.73%) and JET HOMELOANS, LLC (5.77%).

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
DALLAS-FORT WORTH-ARLINGTON, TX COLLIN 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX DALLAS 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX DENTON 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX ELLIS 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX HUNT 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX JOHNSON 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX KAUFMAN 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX PARKER 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX ROCKWALL 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX TARRANT 2023 $531,300 $680,150 $822,150 $1,021,750
DALLAS-FORT WORTH-ARLINGTON, TX WISE 2023 $531,300 $680,150 $822,150 $1,021,750

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).