Del Rio FHA Loan Rates, Closing Costs & Stats

Del Rio, 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.

    Del Rio's 27 lenders originated 163 FHA loans during 2023. The total origination value was $36,185,000, with an average FHA loan value of $221,994.

    Del Rio FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Del Rio averaged 6.77% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Del Rio's average FHA mortgage closing costs are $7,780.

    The average rate for the prior week (2024-04-12) was 6.36% and one month ago for the week of 2024-03-15, the average rate was 6.43%.

    The average rate one year ago was 6.26%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Del Rio 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 Del Rio level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 80 6.54% $10,784
    Flagstar Bank, FSB 33 6.22% $10,909
    SFMC, LP 9 6.92% $12,190
    QUICKEN LOANS, LLC 4 6.50% $11,632
    UNITED WHOLESALE MORTGAGE, LLC 4 6.12% $13,014
    Armed Forces Bank 3 6.50% $9,568
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 3 7.38% $11,620
    GARDNER FINANCIAL SERVICES, LTD. 3 6.67% $13,431
    AMCAP MORTGAGE, LTD. 2 6.81% $11,401
    GUARANTEED RATE AFFINITY, LLC 2 6.75% $11,013
    Century Mortgage Company DBA Century Lending Company 1 6.75% $12,785
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $6,532
    GUARANTEED RATE, INC. 1 6.75% $9,971
    GUILD MORTGAGE COMPANY 1 6.38% $7,673
    LAKEVIEW LOAN SERVICING, LLC 1 5.50% $13,592
    MORTGAGE FINANCIAL SERVICES, LLC 1 7.38% $12,112
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 8.63% $5,229
    NEWREZ LLC 1 6.75% $8,743
    PENNYMAC LOAN SERVICES, LLC 1 7.13% $14,694
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.00% $10,026
    Carrington Mortgage Services, LLC 1 6.63% $13,234
    SECURITYNATIONAL MORTGAGE COMPANY 1 5.38% $10,140
    CALCON MUTUAL MORTGAGE LLC 1 7.13% $11,402
    THRIVE MORTGAGE, LLC 1 6.25% $16,369
    TOWNE MORTGAGE COMPANY 1 5.25% $15,478
    Town Square Mortgage & Investments, Inc. 1 7.50% $5,503
    Equity Prime Mortgage LLC 1 5.63% $14,473

    The top Del Rio FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 80 FHA loans originated. Their average total fees are $10,784, which is $125 lower than the next largest lender, Flagstar Bank, FSB.

    The lowest fee Del Rio FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,784), Flagstar Bank, FSB ($10,909), .

    The lowest rate Del Rio FHA lenders (with over 10 loans originated) are Flagstar Bank, FSB (6.22%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.54%), .

    Del Rio FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Del Rio (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 $171,350 (-1.1%) $210,752 (-0.3%) 0.00 186
    2018-02-01 $174,450 (-1.5%) $206,790 (-5.8%) 0.00 197
    2018-03-01 $179,500 (2.6%) $209,324 (-4.4%) 0.00 183
    2018-04-01 $184,950 (-0.5%) $212,385 (-5.0%) 0.00 182
    2018-05-01 $184,925 (8.8%) $214,813 (0.6%) 0.00 187
    2018-06-01 $189,000 (10.8%) $219,635 (4.8%) 0.00 176
    2018-07-01 $189,125 (11.9%) $221,770 (6.5%) 0.00 169
    2018-08-01 $194,975 (14.7%) $223,783 (8.6%) 0.00 178
    2018-09-01 $193,500 (17.3%) $230,369 (12.4%) 0.00 174
    2018-10-01 $186,150 (12.3%) $212,872 (4.3%) 0.00 174
    2018-11-01 $184,950 (13.3%) $207,971 (3.3%) 0.00 158
    2018-12-01 $185,000 (5.7%) $210,290 (0.4%) 0.00 149
    2019-01-01 $184,850 (7.9%) $208,552 (-1.0%) 0.00 148
    2019-02-01 $182,800 (4.8%) $204,645 (-1.0%) 0.00 150
    2019-03-01 $183,286 (2.1%) $207,525 (-0.9%) 0.00 146
    2019-04-01 $185,000 (0.0%) $211,507 (-0.4%) 0.00 149
    2019-05-01 $190,150 (2.8%) $211,920 (-1.4%) 0.00 147
    2019-06-01 $200,000 (5.8%) $217,983 (-0.8%) 0.00 136
    2019-07-01 $189,950 (0.4%) $221,113 (-0.3%) 0.00 119
    2019-08-01 $184,336 (-5.5%) $218,076 (-2.6%) 0.00 121
    2019-09-01 $175,991 (-9.1%) $212,609 (-7.7%) 0.00 129
    2019-10-01 $171,927 (-7.6%) $208,964 (-1.8%) 0.00 135
    2019-11-01 $178,500 (-3.5%) $205,393 (-1.2%) 0.00 137
    2019-12-01 $174,975 (-5.4%) $204,586 (-2.7%) 0.00 151
    2020-01-01 $162,500 (-12.1%) $199,371 (-4.4%) 0.00 150
    2020-02-01 $178,000 (-2.6%) $205,065 (0.2%) 0.00 154
    2020-03-01 $187,025 (2.0%) $214,010 (3.1%) 0.00 150
    2020-04-01 $191,575 (3.6%) $219,711 (3.9%) 0.00 145
    2020-05-01 $194,450 (2.3%) $225,758 (6.5%) 0.00 122
    2020-06-01 $193,500 (-3.3%) $225,105 (3.3%) 0.00 112
    2020-07-01 $224,975 (18.4%) $226,025 (2.2%) 0.00 104
    2020-08-01 $174,250 (-5.5%) $214,662 (-1.6%) 0.00 96
    2020-09-01 $188,750 (7.3%) $216,176 (1.7%) 0.00 97
    2020-10-01 $192,500 (12.0%) $220,466 (5.5%) 0.00 83
    2020-11-01 $175,250 (-1.8%) $215,809 (5.1%) 0.00 84
    2020-12-01 $193,500 (10.6%) $230,589 (12.7%) 0.00 94
    2021-01-01 $179,900 (10.7%) $229,569 (15.2%) 0.00 88
    2021-02-01 $179,900 (1.1%) $239,003 (16.6%) 0.00 82
    2021-03-01 $183,725 (-1.8%) $242,821 (13.5%) 0.00 85
    2021-04-01 $182,475 (-4.8%) $244,061 (11.1%) 0.00 67
    2021-05-01 $179,900 (-7.5%) $241,523 (7.0%) 0.00 63
    2021-06-01 $178,675 (-7.7%) $248,719 (10.5%) 0.00 62
    2021-07-01 $194,500 (-13.6%) $246,817 (9.2%) 0.00 68
    2021-08-01 $195,100 (12.0%) $247,704 (15.4%) 0.00 78
    2021-09-01 $196,200 (4.0%) $252,776 (16.9%) 0.00 82
    2021-10-01 $195,900 (1.8%) $250,650 (13.7%) 0.00 98
    2021-11-01 $201,750 (15.1%) $246,619 (14.3%) 0.00 113
    2021-12-01 $215,000 (11.1%) $237,658 (3.1%) 0.00 119
    2022-01-01 $219,700 (22.1%) $242,652 (5.7%) 0.00 96
    2022-02-01 $225,000 (25.1%) $259,087 (8.4%) 0.00 105
    2022-03-01 $225,000 (22.5%) $265,535 (9.4%) 0.00 103
    2022-04-01 $240,000 (31.5%) $295,436 (21.1%) 0.00 106
    2022-05-01 $249,900 (38.9%) $297,450 (23.2%) 0.00 109
    2022-06-01 $284,750 (59.4%) $313,254 (26.0%) 0.00 106
    2022-07-01 $299,000 (53.7%) $339,059 (37.4%) 0.00 129
    2022-08-01 $299,225 (53.4%) $329,507 (33.0%) 0.00 138
    2022-09-01 $293,875 (49.8%) $321,586 (27.2%) 0.00 138
    2022-10-01 $265,500 (35.5%) $317,073 (26.5%) 0.00 138
    2022-11-01 $266,055 (31.9%) $329,935 (33.8%) 0.00 146
    2022-12-01 $271,500 (26.3%) $333,378 (40.3%) 0.00 141
    2023-01-01 $264,110 (20.2%) $332,098 (36.9%) 0.00 134
    2023-02-01 $259,596 (15.4%) $323,396 (24.8%) 0.00 144
    2023-03-01 $250,000 (11.1%) $319,790 (20.4%) 0.00 145
    2023-04-01 $262,000 (9.2%) $313,733 (6.2%) 0.00 139
    2023-05-01 $285,576 (14.3%) $313,100 (5.3%) 0.00 157
    2023-06-01 $275,750 (-3.2%) $305,461 (-2.5%) 0.00 160
    2023-07-01 $269,950 (-9.7%) $300,585 (-11.4%) 0.00 154
    2023-08-01 $259,000 (-13.4%) $287,473 (-12.8%) 0.00 152
    2023-09-01 $269,740 (-8.2%) $288,786 (-10.2%) 0.00 156
    2023-10-01 $280,053 (5.5%) $300,720 (-5.2%) 0.00 152
    2023-11-01 $272,000 (2.2%) $304,027 (-7.9%) 0.00 158
    2023-12-01 $277,000 (2.0%) $305,514 (-8.4%) 0.00 158
    2024-01-01 $273,225 (3.5%) $315,954 (-4.9%) 0.00 155
    2024-02-01 $256,725 (-1.1%) $313,541 (-3.1%) 0.00 170
    2024-03-01 $265,000 (6.0%) $320,053 (0.1%) 0.00 180
    Del Rio's median listing price for 2024-03-01 was $265,000, a difference of $15,000 (6.0%) versus the prior year and $8,275 versus the prior month.

    Del Rio's median listing price comes in at 0% of the national average.

    Del Rio's average listing price for 2024-03-01 was $320,053, a difference of $263 (0.1%) versus the prior year and $6,512 versus the prior month.

    For the 2024-03-01 period, Del Rio had 180 MLS listings, a difference of 10 listings (6%) versus the prior month and 35 listings (24%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Del Rio (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,979 sqft
    2018-02-01 0 days 1,909 sqft
    2018-03-01 0 days 2,000 sqft
    2018-04-01 0 days 1,983 sqft
    2018-05-01 0 days 1,989 sqft
    2018-06-01 0 days 2,018 sqft
    2018-07-01 0 days 2,037 sqft
    2018-08-01 0 days 2,046 sqft
    2018-09-01 0 days 2,040 sqft
    2018-10-01 0 days 2,017 sqft
    2018-11-01 0 days 2,001 sqft
    2018-12-01 0 days 2,001 sqft
    2019-01-01 0 days 2,000 sqft
    2019-02-01 0 days 1,956 sqft
    2019-03-01 0 days 1,981 sqft
    2019-04-01 0 days 2,011 sqft
    2019-05-01 0 days 2,042 sqft
    2019-06-01 0 days 2,049 sqft
    2019-07-01 0 days 2,061 sqft
    2019-08-01 0 days 2,004 sqft
    2019-09-01 0 days 1,919 sqft
    2019-10-01 0 days 1,862 sqft
    2019-11-01 0 days 1,919 sqft
    2019-12-01 0 days 1,857 sqft
    2020-01-01 0 days 1,837 sqft
    2020-02-01 0 days 1,894 sqft
    2020-03-01 0 days 1,935 sqft
    2020-04-01 0 days 1,976 sqft
    2020-05-01 0 days 1,974 sqft
    2020-06-01 0 days 1,978 sqft
    2020-07-01 0 days 2,007 sqft
    2020-08-01 0 days 1,943 sqft
    2020-09-01 0 days 1,880 sqft
    2020-10-01 0 days 1,858 sqft
    2020-11-01 0 days 1,845 sqft
    2020-12-01 0 days 1,908 sqft
    2021-01-01 0 days 1,868 sqft
    2021-02-01 0 days 1,905 sqft
    2021-03-01 0 days 1,808 sqft
    2021-04-01 0 days 1,817 sqft
    2021-05-01 0 days 1,769 sqft
    2021-06-01 0 days 1,793 sqft
    2021-07-01 0 days 1,833 sqft
    2021-08-01 0 days 1,874 sqft
    2021-09-01 0 days 1,931 sqft
    2021-10-01 0 days 1,800 sqft
    2021-11-01 0 days 1,774 sqft
    2021-12-01 0 days 1,741 sqft
    2022-01-01 0 days 1,728 sqft
    2022-02-01 0 days 1,769 sqft
    2022-03-01 0 days 1,911 sqft
    2022-04-01 0 days 2,005 sqft
    2022-05-01 0 days 2,025 sqft
    2022-06-01 0 days 2,190 sqft
    2022-07-01 0 days 2,190 sqft
    2022-08-01 0 days 2,125 sqft
    2022-09-01 0 days 2,074 sqft
    2022-10-01 0 days 2,001 sqft
    2022-11-01 0 days 2,011 sqft
    2022-12-01 0 days 2,026 sqft
    2023-01-01 0 days 1,959 sqft
    2023-02-01 0 days 1,977 sqft
    2023-03-01 0 days 2,013 sqft
    2023-04-01 0 days 2,020 sqft
    2023-05-01 0 days 2,017 sqft
    2023-06-01 0 days 2,000 sqft
    2023-07-01 0 days 2,020 sqft
    2023-08-01 0 days 2,012 sqft
    2023-09-01 0 days 2,053 sqft
    2023-10-01 0 days 2,074 sqft
    2023-11-01 0 days 2,095 sqft
    2023-12-01 0 days 2,064 sqft
    2024-01-01 0 days 2,036 sqft
    2024-02-01 0 days 2,037 sqft
    2024-03-01 0 days 2,058 sqft
    Del Rio's median listing age (time on market) for 2024-03-01 was 0 days.

    Del Rio's median square footage for active listings during the 2024-03-01 period was 2,058 sqft. One year prior, the average listing was 2,013 sqft.

    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).