Dumas FHA Loan Rates, Closing Costs & Stats

Dumas, 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.

    Dumas's 24 lenders originated 86 FHA loans during 2023. The total origination value was $16,990,000, with an average FHA loan value of $197,558.

    Dumas FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Dumas averaged 6.81% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Dumas's average FHA mortgage closing costs are $7,042.

    The average rate for the prior week (2024-04-05) was 6.74% and one month ago for the week of 2024-03-08, the average rate was 6.48%.

    The average rate one year ago was 6.41%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.54%.

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

    Dumas 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 Dumas level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    HOMETRUST MORTGAGE COMPANY 26 6.59% $8,463
    ASSOCIATED MORTGAGE CORPORATION 8 6.69% $9,834
    PREMIER LENDING, INC. 6 6.83% $11,393
    EVERETT FINANCIAL, INC. 6 7.35% $9,762
    Amarillo National Bank 4 6.19% $8,155
    CARDINAL FINANCIAL 3 6.67% $16,161
    First United Bank 3 6.92% $7,554
    SECURITYNATIONAL MORTGAGE COMPANY 3 7.75% $10,945
    GUILD MORTGAGE COMPANY 2 8.13% $9,456
    NATIONS RELIABLE LENDING, LLC 2 6.88% $12,033
    SUN WEST MORTGAGE COMPANY, INC. 2 7.19% $9,965
    TEXAS TECH 2 6.56% $7,202
    UNITED WHOLESALE MORTGAGE, LLC 2 6.59% $8,617
    ACADEMY MORTGAGE CORPORATION 2 6.50% $14,465
    FREEDOM MORTGAGE CORPORATION 1 6.75% $16,421
    AMCAP MORTGAGE, LTD. 1 8.63% $8,968
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $12,171
    CALCON MUTUAL MORTGAGE LLC 1 6.13% $8,800
    First National Bank Texas 1 7.38% $6,882
    FLAT BRANCH MORTGAGE, INC. 1 6.75% $7,044
    1ST SIGNATURE LENDING, LLC 1 7.00% $16,704
    Prosperity Home Mortgage, LLC 1 5.99% $7,532
    S1L, Inc. 1 7.25% $7,744
    TIB The Independent Bankersbank 1 6.63% $10,484

    The top Dumas FHA lender as defined by loan originations is HOMETRUST MORTGAGE COMPANY, with 26 FHA loans originated. Their average total fees are $8,463, which is $1,371 lower than the next largest lender, ASSOCIATED MORTGAGE CORPORATION.

    The lowest fee Dumas FHA lenders (with over 10 loans originated) are HOMETRUST MORTGAGE COMPANY ($8,463), .

    The lowest rate Dumas FHA lenders (with over 10 loans originated) are HOMETRUST MORTGAGE COMPANY (6.59%), .

    Dumas FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Dumas (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 $199,964 (42.9%) $218,690 (39.2%) 0.00 43
    2018-02-01 $199,900 (49.5%) $222,391 (42.4%) 0.00 43
    2018-03-01 $189,250 (18.7%) $205,256 (10.3%) 0.00 42
    2018-04-01 $186,750 (17.5%) $206,309 (12.1%) 0.00 43
    2018-05-01 $187,125 (25.0%) $201,396 (15.6%) 0.00 44
    2018-06-01 $199,000 (23.5%) $215,853 (12.3%) 0.00 54
    2018-07-01 $196,625 (21.0%) $210,451 (9.0%) 0.00 66
    2018-08-01 $193,625 (3.3%) $206,298 (2.1%) 0.00 66
    2018-09-01 $192,500 (11.9%) $207,039 (3.7%) 0.00 66
    2018-10-01 $199,000 (2.3%) $218,218 (1.8%) 0.00 62
    2018-11-01 $196,750 (-1.6%) $211,942 (-1.0%) 0.00 60
    2018-12-01 $198,500 (-0.7%) $208,309 (-4.7%) 0.00 56
    2019-01-01 $192,875 (-3.6%) $199,808 (-8.6%) 0.00 59
    2019-02-01 $188,500 (-5.7%) $197,080 (-11.4%) 0.00 66
    2019-03-01 $169,143 (-10.6%) $193,218 (-5.9%) 0.00 63
    2019-04-01 $151,143 (-19.1%) $185,071 (-10.3%) 0.00 58
    2019-05-01 $175,225 (-6.4%) $185,749 (-7.8%) 0.00 57
    2019-06-01 $166,000 (-16.6%) $188,943 (-12.5%) 0.00 62
    2019-07-01 $164,125 (-16.5%) $183,851 (-12.6%) 0.00 62
    2019-08-01 $168,000 (-13.2%) $185,351 (-10.2%) 0.00 59
    2019-09-01 $174,750 (-9.2%) $190,109 (-8.2%) 0.00 55
    2019-10-01 $179,350 (-9.9%) $193,281 (-11.4%) 0.00 53
    2019-11-01 $185,000 (-6.0%) $189,027 (-10.8%) 0.00 56
    2019-12-01 $143,000 (-28.0%) $175,598 (-15.7%) 0.00 64
    2020-01-01 $135,000 (-30.0%) $167,610 (-16.1%) 0.00 63
    2020-02-01 $130,000 (-31.0%) $163,270 (-17.2%) 0.00 56
    2020-03-01 $131,500 (-22.3%) $161,953 (-16.2%) 0.00 60
    2020-04-01 $134,450 (-11.0%) $163,875 (-11.5%) 0.00 61
    2020-05-01 $133,500 (-23.8%) $162,901 (-12.3%) 0.00 59
    2020-06-01 $130,500 (-21.4%) $169,916 (-10.1%) 0.00 45
    2020-07-01 $159,900 (-2.6%) $171,372 (-6.8%) 0.00 45
    2020-08-01 $159,700 (-4.9%) $173,102 (-6.6%) 0.00 46
    2020-09-01 $157,900 (-9.6%) $173,637 (-8.7%) 0.00 43
    2020-10-01 $148,450 (-17.2%) $175,293 (-9.3%) 0.00 42
    2020-11-01 $159,925 (-13.6%) $177,847 (-5.9%) 0.00 39
    2020-12-01 $152,450 (6.6%) $161,452 (-8.1%) 0.00 34
    2021-01-01 $155,000 (14.8%) $179,908 (7.3%) 0.00 27
    2021-02-01 $151,900 (16.9%) $187,089 (14.6%) 0.00 26
    2021-03-01 $162,500 (23.6%) $208,688 (28.9%) 0.00 25
    2021-04-01 $217,500 (61.8%) $223,065 (36.1%) 0.00 24
    2021-05-01 $197,000 (47.6%) $216,950 (33.2%) 0.00 21
    2021-06-01 $204,750 (56.9%) $216,812 (27.6%) 0.00 22
    2021-07-01 $165,000 (3.2%) $201,578 (17.6%) 0.00 21
    2021-08-01 $166,200 (4.1%) $184,935 (6.8%) 0.00 20
    2021-09-01 $172,500 (9.3%) $200,542 (15.5%) 0.00 19
    2021-10-01 $169,900 (14.5%) $196,758 (12.3%) 0.00 19
    2021-11-01 $160,000 (0.1%) $169,188 (-4.9%) 0.00 21
    2021-12-01 $163,750 (7.4%) $182,109 (12.8%) 0.00 19
    2022-01-01 $162,500 (4.8%) $185,875 (3.3%) 0.00 18
    2022-02-01 $169,500 (11.6%) $198,731 (6.2%) 0.00 18
    2022-03-01 $142,250 (-12.5%) $163,685 (-21.6%) 0.00 16
    2022-04-01 $182,000 (-16.3%) $213,188 (-4.4%) 0.00 18
    2022-05-01 $196,000 (-0.5%) $227,661 (4.9%) 0.00 24
    2022-06-01 $199,900 (-2.4%) $218,081 (0.6%) 0.00 29
    2022-07-01 $200,000 (21.2%) $220,322 (9.3%) 0.00 31
    2022-08-01 $198,675 (19.5%) $226,110 (22.3%) 0.00 32
    2022-09-01 $223,125 (29.4%) $241,581 (20.5%) 0.00 36
    2022-10-01 $210,000 (23.6%) $234,983 (19.4%) 0.00 38
    2022-11-01 $198,075 (23.8%) $227,617 (34.5%) 0.00 40
    2022-12-01 $179,500 (9.6%) $218,232 (19.8%) 0.00 40
    2023-01-01 $167,783 (3.3%) $217,998 (17.3%) 0.00 48
    2023-02-01 $178,750 (5.5%) $220,970 (11.2%) 0.00 47
    2023-03-01 $190,000 (33.6%) $233,304 (42.5%) 0.00 44
    2023-04-01 $235,000 (29.1%) $262,276 (23.0%) 0.00 32
    2023-05-01 $234,750 (19.8%) $267,837 (17.7%) 0.00 26
    2023-06-01 $230,000 (15.1%) $260,978 (19.7%) 0.00 27
    2023-07-01 $220,000 (10.0%) $241,127 (9.4%) 0.00 32
    2023-08-01 $220,000 (10.7%) $249,538 (10.4%) 0.00 35
    2023-09-01 $220,000 (-1.4%) $255,877 (5.9%) 0.00 38
    2023-10-01 $230,500 (9.8%) $249,683 (6.3%) 0.00 45
    2023-11-01 $231,225 (16.7%) $260,378 (14.4%) 0.00 47
    2023-12-01 $238,000 (32.6%) $264,439 (21.2%) 0.00 43
    2024-01-01 $244,950 (46.0%) $274,721 (26.0%) 0.00 41
    2024-02-01 $262,000 (46.6%) $276,130 (25.0%) 0.00 39
    2024-03-01 $257,500 (35.5%) $289,211 (24.0%) 0.00 45
    Dumas's median listing price for 2024-03-01 was $257,500, a difference of $67,500 (35.5%) versus the prior year and $-4,500 versus the prior month.

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

    Dumas's average listing price for 2024-03-01 was $289,211, a difference of $55,907 (24.0%) versus the prior year and $13,081 versus the prior month.

    For the 2024-03-01 period, Dumas had 45 MLS listings, a difference of 6 listings (15%) versus the prior month and 1 listings (2%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Dumas (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,099 sqft
    2018-02-01 0 days 2,121 sqft
    2018-03-01 0 days 2,092 sqft
    2018-04-01 0 days 1,810 sqft
    2018-05-01 0 days 1,850 sqft
    2018-06-01 0 days 2,276 sqft
    2018-07-01 0 days 2,219 sqft
    2018-08-01 0 days 2,200 sqft
    2018-09-01 0 days 2,276 sqft
    2018-10-01 0 days 2,308 sqft
    2018-11-01 0 days 2,269 sqft
    2018-12-01 0 days 2,184 sqft
    2019-01-01 0 days 1,925 sqft
    2019-02-01 0 days 1,945 sqft
    2019-03-01 0 days 1,878 sqft
    2019-04-01 0 days 1,787 sqft
    2019-05-01 0 days 1,843 sqft
    2019-06-01 0 days 1,882 sqft
    2019-07-01 0 days 1,780 sqft
    2019-08-01 0 days 1,838 sqft
    2019-09-01 0 days 1,911 sqft
    2019-10-01 0 days 1,953 sqft
    2019-11-01 0 days 1,894 sqft
    2019-12-01 0 days 1,776 sqft
    2020-01-01 0 days 1,621 sqft
    2020-02-01 0 days 1,596 sqft
    2020-03-01 0 days 1,604 sqft
    2020-04-01 0 days 1,666 sqft
    2020-05-01 0 days 1,536 sqft
    2020-06-01 0 days 1,552 sqft
    2020-07-01 0 days 1,752 sqft
    2020-08-01 0 days 1,707 sqft
    2020-09-01 0 days 1,631 sqft
    2020-10-01 0 days 1,431 sqft
    2020-11-01 0 days 1,473 sqft
    2020-12-01 0 days 1,450 sqft
    2021-01-01 0 days 1,435 sqft
    2021-02-01 0 days 1,398 sqft
    2021-03-01 0 days 1,564 sqft
    2021-04-01 0 days 1,794 sqft
    2021-05-01 0 days 1,636 sqft
    2021-06-01 0 days 1,802 sqft
    2021-07-01 0 days 1,715 sqft
    2021-08-01 0 days 1,555 sqft
    2021-09-01 0 days 1,943 sqft
    2021-10-01 0 days 1,467 sqft
    2021-11-01 0 days 1,527 sqft
    2021-12-01 0 days 1,643 sqft
    2022-01-01 0 days 1,600 sqft
    2022-02-01 0 days 1,725 sqft
    2022-03-01 0 days 1,554 sqft
    2022-04-01 0 days 1,756 sqft
    2022-05-01 0 days 1,796 sqft
    2022-06-01 0 days 1,710 sqft
    2022-07-01 0 days 1,711 sqft
    2022-08-01 0 days 1,629 sqft
    2022-09-01 0 days 1,947 sqft
    2022-10-01 0 days 1,981 sqft
    2022-11-01 0 days 1,984 sqft
    2022-12-01 0 days 1,807 sqft
    2023-01-01 0 days 1,728 sqft
    2023-02-01 0 days 1,638 sqft
    2023-03-01 0 days 1,761 sqft
    2023-04-01 0 days 2,167 sqft
    2023-05-01 0 days 2,168 sqft
    2023-06-01 0 days 2,064 sqft
    2023-07-01 0 days 2,010 sqft
    2023-08-01 0 days 2,003 sqft
    2023-09-01 0 days 2,034 sqft
    2023-10-01 0 days 1,966 sqft
    2023-11-01 0 days 1,965 sqft
    2023-12-01 0 days 1,835 sqft
    2024-01-01 0 days 2,009 sqft
    2024-02-01 0 days 2,188 sqft
    2024-03-01 0 days 2,054 sqft
    Dumas's median listing age (time on market) for 2024-03-01 was 0 days.

    Dumas's median square footage for active listings during the 2024-03-01 period was 2,054 sqft. One year prior, the average listing was 1,761 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).