Dallas FHA Loans
DALLAS-PLANO-IRVING, 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 304 lenders originated 22,044 FHA loans during 2021. The total origination value was $5,879,940,000, with an average FHA loan value of $266,737.
Dallas FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Dallas
averaged
4.7%
for the week of 2022-03-25, compared to the national average (all FHA variants) of
4.648% for the same period.
The average rate for the prior week (2022-03-18) was
4.52% and
one month ago for the week of 2022-02-18, the
average rate was 4.14%.
The average rate one year ago was 3.38%.
For refis of the same type during the week of 2022-03-25, the average rate
was 4.45%.
Dallas FHA Loan Lenders by Rates & Fees
The below table looks at the average fees 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
1,837 FHA loans originated. Their average total fees are
$8,565, which is $2,578
higher than the next largest lender,
LAKEVIEW LOAN SERVICING, LLC.
The lowest fee Dallas FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,749), OCEANSIDE MORTGAGE COMPANY ($3,439), CHERRY CREEK MORTGAGE, LLC ($4,960), Mr. Cooper ( Nationstar Mortgage ) ($5,062) and MID AMERICA MORTGAGE, INC. ($5,648).
The lowest rate Dallas FHA lenders (with over 10 loans originated) are
South Pacific Financial Corporation (2.53%), ASPIRE FINANCIAL, INC. (2.60%), InterContinental Capital Group, Inc (2.60%), LOANPAL, LLC (2.64%) and OCEANSIDE MORTGAGE COMPANY (2.66%).
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 | $351,878 (0.5%) | $495,654 (-1.6%) | 1.30 | 14,408 |
| 2018-02-01 | $367,586 (1.5%) | $519,017 (0.1%) | 1.33 | 14,403 |
| 2018-03-01 | $370,000 (0.1%) | $526,908 (-1.7%) | 1.28 | 15,331 |
| 2018-04-01 | $376,369 (-0.7%) | $536,251 (-2.1%) | 1.26 | 16,677 |
| 2018-05-01 | $384,950 (1.6%) | $543,991 (-1.0%) | 1.28 | 18,262 |
| 2018-06-01 | $374,900 (0.0%) | $525,365 (-2.4%) | 1.25 | 20,224 |
| 2018-07-01 | $366,250 (0.2%) | $511,223 (-1.9%) | 1.22 | 22,140 |
| 2018-08-01 | $349,950 (-1.7%) | $485,936 (-2.3%) | 1.17 | 22,475 |
| 2018-09-01 | $345,000 (-1.4%) | $482,649 (-2.7%) | 1.15 | 22,382 |
| 2018-10-01 | $342,520 (-2.1%) | $481,161 (-3.4%) | 1.15 | 22,509 |
| 2018-11-01 | $340,000 (-2.9%) | $482,594 (-2.6%) | 1.14 | 22,084 |
| 2018-12-01 | $339,000 (-3.1%) | $476,066 (-3.1%) | 1.16 | 20,347 |
| 2019-01-01 | $338,000 (-3.9%) | $470,639 (-5.1%) | 1.17 | 18,975 |
| 2019-02-01 | $344,738 (-6.2%) | $483,746 (-6.8%) | 1.15 | 19,188 |
| 2019-03-01 | $351,957 (-4.9%) | $498,132 (-5.5%) | 1.15 | 19,833 |
| 2019-04-01 | $359,700 (-4.4%) | $511,026 (-4.7%) | 1.13 | 20,734 |
| 2019-05-01 | $360,000 (-6.5%) | $509,897 (-6.3%) | 1.11 | 21,981 |
| 2019-06-01 | $358,400 (-4.4%) | $504,692 (-3.9%) | 1.10 | 23,540 |
| 2019-07-01 | $353,450 (-3.5%) | $493,702 (-3.4%) | 1.10 | 24,435 |
| 2019-08-01 | $347,757 (-0.6%) | $481,341 (-1.0%) | 1.09 | 23,890 |
| 2019-09-01 | $344,226 (-0.2%) | $478,149 (-0.9%) | 1.09 | 23,144 |
| 2019-10-01 | $341,740 (-0.2%) | $477,954 (-0.7%) | 1.09 | 23,402 |
| 2019-11-01 | $340,000 (0.0%) | $475,723 (-1.4%) | 1.10 | 21,903 |
| 2019-12-01 | $335,436 (-1.1%) | $468,817 (-1.5%) | 1.12 | 19,514 |
| 2020-01-01 | $333,388 (-1.4%) | $465,385 (-1.1%) | 1.11 | 17,767 |
| 2020-02-01 | $339,900 (-1.4%) | $475,261 (-1.8%) | 1.10 | 17,440 |
| 2020-03-01 | $342,495 (-2.7%) | $481,248 (-3.4%) | 1.07 | 18,088 |
| 2020-04-01 | $339,479 (-5.6%) | $470,711 (-7.9%) | 1.06 | 18,523 |
| 2020-05-01 | $349,900 (-2.8%) | $497,619 (-2.4%) | 1.06 | 18,581 |
| 2020-06-01 | $356,000 (-0.7%) | $515,387 (2.1%) | 1.04 | 16,756 |
| 2020-07-01 | $359,846 (1.8%) | $523,384 (6.0%) | 1.03 | 15,709 |
| 2020-08-01 | $359,990 (3.5%) | $532,123 (10.6%) | 1.03 | 14,567 |
| 2020-09-01 | $359,550 (4.5%) | $543,543 (13.7%) | 1.03 | 13,442 |
| 2020-10-01 | $356,000 (4.2%) | $549,352 (14.9%) | 1.02 | 12,456 |
| 2020-11-01 | $358,950 (5.6%) | $559,768 (17.7%) | 1.03 | 11,106 |
| 2020-12-01 | $353,995 (5.5%) | $558,517 (19.1%) | 1.04 | 9,391 |
| 2021-01-01 | $349,900 (5.0%) | $550,512 (18.3%) | 1.03 | 8,041 |
| 2021-02-01 | $358,495 (5.5%) | $578,669 (21.8%) | 1.03 | 6,218 |
| 2021-03-01 | $361,413 (5.5%) | $581,201 (20.8%) | 1.01 | 5,730 |
| 2021-04-01 | $373,495 (10.0%) | $602,114 (27.9%) | 1.00 | 5,618 |
| 2021-05-01 | $379,900 (8.6%) | $587,549 (18.1%) | 1.00 | 5,936 |
| 2021-06-01 | $387,000 (8.7%) | $594,650 (15.4%) | 1.01 | 6,873 |
| 2021-07-01 | $395,000 (9.8%) | $580,237 (10.9%) | 1.03 | 8,098 |
| 2021-08-01 | $395,300 (9.8%) | $567,592 (6.7%) | 1.04 | 9,132 |
| 2021-09-01 | $396,080 (10.2%) | $562,909 (3.6%) | 1.04 | 8,860 |
| 2021-10-01 | $397,072 (11.5%) | $576,139 (4.9%) | 1.04 | 8,246 |
| 2021-11-01 | $400,000 (11.4%) | $585,654 (4.6%) | 1.05 | 7,339 |
| 2021-12-01 | $399,950 (13.0%) | $585,819 (4.9%) | 1.07 | 6,252 |
| 2022-01-01 | $400,000 (14.3%) | $598,299 (8.7%) | 1.07 | 4,910 |
Dallas's median listing price comes in at 107% of the national average.
Dallas's average listing price for 2022-01-01 was $598,299, a difference of $47,787 (8.7%) versus the prior year and $12,480 versus the prior month.
For the 2022-01-01 period, Dallas had 4,910 MLS listings, a difference of -1,342 listings (-21%) versus the prior month and -3,131 listings (-39%) 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 | 66 days | 2,585 sqft |
| 2018-02-01 | 52 days | 2,631 sqft |
| 2018-03-01 | 44 days | 2,644 sqft |
| 2018-04-01 | 43 days | 2,672 sqft |
| 2018-05-01 | 39 days | 2,723 sqft |
| 2018-06-01 | 42 days | 2,669 sqft |
| 2018-07-01 | 42 days | 2,627 sqft |
| 2018-08-01 | 48 days | 2,545 sqft |
| 2018-09-01 | 53 days | 2,509 sqft |
| 2018-10-01 | 58 days | 2,480 sqft |
| 2018-11-01 | 59 days | 2,457 sqft |
| 2018-12-01 | 66 days | 2,426 sqft |
| 2019-01-01 | 70 days | 2,399 sqft |
| 2019-02-01 | 59 days | 2,424 sqft |
| 2019-03-01 | 49 days | 2,462 sqft |
| 2019-04-01 | 45 days | 2,494 sqft |
| 2019-05-01 | 45 days | 2,508 sqft |
| 2019-06-01 | 49 days | 2,500 sqft |
| 2019-07-01 | 49 days | 2,477 sqft |
| 2019-08-01 | 51 days | 2,424 sqft |
| 2019-09-01 | 56 days | 2,402 sqft |
| 2019-10-01 | 57 days | 2,392 sqft |
| 2019-11-01 | 59 days | 2,387 sqft |
| 2019-12-01 | 65 days | 2,338 sqft |
| 2020-01-01 | 68 days | 2,320 sqft |
| 2020-02-01 | 57 days | 2,329 sqft |
| 2020-03-01 | 46 days | 2,340 sqft |
| 2020-04-01 | 50 days | 2,316 sqft |
| 2020-05-01 | 55 days | 2,374 sqft |
| 2020-06-01 | 48 days | 2,387 sqft |
| 2020-07-01 | 47 days | 2,379 sqft |
| 2020-08-01 | 46 days | 2,360 sqft |
| 2020-09-01 | 46 days | 2,312 sqft |
| 2020-10-01 | 48 days | 2,280 sqft |
| 2020-11-01 | 50 days | 2,248 sqft |
| 2020-12-01 | 52 days | 2,194 sqft |
| 2021-01-01 | 53 days | 2,144 sqft |
| 2021-02-01 | 43 days | 2,147 sqft |
| 2021-03-01 | 41 days | 2,145 sqft |
| 2021-04-01 | 33 days | 2,141 sqft |
| 2021-05-01 | 31 days | 2,167 sqft |
| 2021-06-01 | 29 days | 2,169 sqft |
| 2021-07-01 | 30 days | 2,164 sqft |
| 2021-08-01 | 31 days | 2,169 sqft |
| 2021-09-01 | 36 days | 2,162 sqft |
| 2021-10-01 | 37 days | 2,150 sqft |
| 2021-11-01 | 39 days | 2,150 sqft |
| 2021-12-01 | 43 days | 2,145 sqft |
| 2022-01-01 | 43 days | 2,116 sqft |
Dallas's median square footage for active listings during the 2022-01-01 period was 2,116 sqft. One year prior, the average listing was 2,144 sqft.
