Eagle Pass FHA Loan Rates, Closing Costs & Stats

Eagle Pass, 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.

    Eagle Pass's 21 lenders originated 190 FHA loans during 2023. The total origination value was $43,550,000, with an average FHA loan value of $229,211.

    Eagle Pass FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Eagle Pass averaged -0.34% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Eagle Pass's average FHA mortgage closing costs are $7,462.

    The average rate for the prior week (2024-11-08) was 6.37% and one month ago for the week of 2024-10-11, the average rate was 5.77%.

    The average rate one year ago was 7.11%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

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

    Eagle Pass 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 Eagle Pass level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 114 6.54% $11,239
    UNITED WHOLESALE MORTGAGE, LLC 7 6.24% $12,938
    CMG MORTGAGE, INC. 4 6.75% $14,407
    LEADERONE FINANCIAL CORPORATION 4 6.28% $11,973
    MORTGAGE FINANCIAL SERVICES, LLC 4 6.69% $12,471
    MOVEMENT MORTGAGE, LLC 4 6.25% $11,677
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.83% $9,903
    AMCAP MORTGAGE, LTD. 3 6.87% $13,718
    Gateway First Bank 3 6.58% $12,085
    NATIONS DIRECT MORTGAGE, LLC 2 7.00% $8,877
    QUICKEN LOANS, LLC 2 6.24% $13,828
    THRIVE MORTGAGE, LLC 2 6.44% $13,395
    WILLOW BEND MORTGAGE COMPANY, LLC 1 7.13% $12,904
    Equity Prime Mortgage LLC 1 7.25% $7,038
    PENNYMAC LOAN SERVICES, LLC 1 5.75% $12,228
    PILGRIM MORTGAGE LLC 1 5.38% $9,967
    PLAZA HOME MORTGAGE, INC. 1 5.00% $12,449
    PNC Bank 1 6.25% $5,406
    TOWNE MORTGAGE COMPANY 1 5.75% $8,697
    Town Square Mortgage & Investments, Inc. 1 7.63% $12,979
    ACADEMY MORTGAGE CORPORATION 1 7.25% $8,755

    The top Eagle Pass FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 114 FHA loans originated. Their average total fees are $11,239, which is $1,699 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Eagle Pass FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,239), .

    The lowest rate Eagle Pass FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.54%), .

    Eagle Pass FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Eagle Pass (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 $151,500 (2.4%) $167,749 (5.9%) 0.00 218
    2018-02-01 $149,500 (2.1%) $169,915 (9.2%) 0.00 222
    2018-03-01 $145,000 (0.0%) $166,487 (7.1%) 0.00 232
    2018-04-01 $145,000 (-1.0%) $167,204 (6.5%) 0.00 233
    2018-05-01 $148,500 (-0.1%) $169,937 (7.2%) 0.00 243
    2018-06-01 $149,000 (1.7%) $168,106 (6.7%) 0.00 243
    2018-07-01 $148,750 (2.6%) $167,010 (5.6%) 0.00 255
    2018-08-01 $146,500 (0.3%) $166,196 (5.3%) 0.00 265
    2018-09-01 $155,000 (3.9%) $171,204 (5.3%) 0.00 263
    2018-10-01 $159,200 (7.5%) $174,095 (6.3%) 0.00 258
    2018-11-01 $158,250 (6.4%) $172,891 (4.8%) 0.00 252
    2018-12-01 $156,000 (4.7%) $171,711 (2.7%) 0.00 239
    2019-01-01 $152,875 (0.9%) $172,253 (2.7%) 0.00 234
    2019-02-01 $149,850 (0.2%) $170,298 (0.2%) 0.00 244
    2019-03-01 $148,929 (2.7%) $167,811 (0.8%) 0.00 232
    2019-04-01 $148,029 (2.1%) $167,384 (0.1%) 0.00 210
    2019-05-01 $150,000 (1.0%) $172,780 (1.7%) 0.00 196
    2019-06-01 $150,000 (0.7%) $173,607 (3.3%) 0.00 190
    2019-07-01 $150,000 (0.8%) $174,147 (4.3%) 0.00 193
    2019-08-01 $148,636 (1.5%) $171,343 (3.1%) 0.00 198
    2019-09-01 $146,591 (-5.4%) $167,762 (-2.0%) 0.00 199
    2019-10-01 $145,000 (-8.9%) $166,354 (-4.5%) 0.00 204
    2019-11-01 $145,000 (-8.4%) $165,959 (-4.0%) 0.00 218
    2019-12-01 $149,875 (-3.9%) $167,848 (-2.3%) 0.00 219
    2020-01-01 $150,000 (-1.9%) $166,912 (-3.1%) 0.00 219
    2020-02-01 $152,500 (1.8%) $166,314 (-2.3%) 0.00 229
    2020-03-01 $156,325 (5.0%) $172,155 (2.6%) 0.00 224
    2020-04-01 $162,125 (9.5%) $176,251 (5.3%) 0.00 225
    2020-05-01 $160,000 (6.7%) $174,074 (0.8%) 0.00 212
    2020-06-01 $160,000 (6.7%) $176,468 (1.7%) 0.00 201
    2020-07-01 $166,000 (10.7%) $177,021 (1.7%) 0.00 199
    2020-08-01 $160,000 (7.7%) $171,987 (0.4%) 0.00 185
    2020-09-01 $166,750 (13.8%) $175,959 (4.9%) 0.00 176
    2020-10-01 $160,000 (10.3%) $171,437 (3.1%) 0.00 169
    2020-11-01 $164,925 (13.7%) $173,710 (4.7%) 0.00 158
    2020-12-01 $165,500 (10.4%) $178,713 (6.5%) 0.00 151
    2021-01-01 $165,000 (10.0%) $177,703 (6.5%) 0.00 148
    2021-02-01 $175,000 (14.8%) $183,982 (10.6%) 0.00 152
    2021-03-01 $175,000 (12.0%) $184,355 (7.1%) 0.00 142
    2021-04-01 $175,000 (7.9%) $187,136 (6.2%) 0.00 136
    2021-05-01 $167,000 (4.4%) $184,719 (6.1%) 0.00 122
    2021-06-01 $159,000 (-0.6%) $186,333 (5.6%) 0.00 118
    2021-07-01 $175,000 (5.4%) $192,401 (8.7%) 0.00 124
    2021-08-01 $177,500 (10.9%) $192,895 (12.2%) 0.00 116
    2021-09-01 $176,000 (5.6%) $195,836 (11.3%) 0.00 107
    2021-10-01 $171,500 (7.2%) $191,533 (11.7%) 0.00 109
    2021-11-01 $174,475 (5.8%) $192,137 (10.6%) 0.00 113
    2021-12-01 $182,500 (10.3%) $195,657 (9.5%) 0.00 116
    2022-01-01 $189,000 (14.6%) $194,229 (9.3%) 0.00 115
    2022-02-01 $198,500 (13.4%) $202,590 (10.1%) 0.00 136
    2022-03-01 $199,525 (14.0%) $205,313 (11.4%) 0.00 129
    2022-04-01 $219,900 (25.7%) $218,489 (16.8%) 0.00 123
    2022-05-01 $219,600 (31.5%) $220,844 (19.6%) 0.00 125
    2022-06-01 $219,250 (37.9%) $222,696 (19.5%) 0.00 136
    2022-07-01 $225,000 (28.6%) $226,898 (17.9%) 0.00 142
    2022-08-01 $235,000 (32.4%) $240,351 (24.6%) 0.00 148
    2022-09-01 $235,400 (33.8%) $243,724 (24.5%) 0.00 153
    2022-10-01 $235,800 (37.5%) $252,905 (32.0%) 0.00 166
    2022-11-01 $235,250 (34.8%) $251,294 (30.8%) 0.00 173
    2022-12-01 $237,800 (30.3%) $253,880 (29.8%) 0.00 170
    2023-01-01 $239,925 (26.9%) $256,063 (31.8%) 0.00 151
    2023-02-01 $237,475 (19.6%) $262,515 (29.6%) 0.00 152
    2023-03-01 $235,000 (17.8%) $260,471 (26.9%) 0.00 136
    2023-04-01 $230,000 (4.6%) $251,505 (15.1%) 0.00 127
    2023-05-01 $248,500 (13.2%) $266,577 (20.7%) 0.00 120
    2023-06-01 $259,750 (18.5%) $273,727 (22.9%) 0.00 129
    2023-07-01 $260,000 (15.6%) $274,786 (21.1%) 0.00 125
    2023-08-01 $263,500 (12.1%) $276,956 (15.2%) 0.00 133
    2023-09-01 $265,000 (12.6%) $275,402 (13.0%) 0.00 130
    2023-10-01 $263,500 (11.8%) $275,200 (8.8%) 0.00 131
    2023-11-01 $259,975 (10.5%) $276,175 (9.9%) 0.00 137
    2023-12-01 $256,300 (7.8%) $279,630 (10.1%) 0.00 137
    2024-01-01 $257,800 (7.5%) $287,047 (12.1%) 0.00 137
    2024-02-01 $259,125 (9.1%) $283,166 (7.9%) 0.00 142
    2024-03-01 $259,750 (10.5%) $281,747 (8.2%) 0.00 145
    2024-04-01 $258,500 (12.4%) $279,430 (11.1%) 0.00 135
    2024-05-01 $265,000 (6.6%) $285,480 (7.1%) 0.00 134
    2024-06-01 $265,000 (2.0%) $286,077 (4.5%) 0.00 140
    2024-07-01 $275,000 (5.8%) $288,800 (5.1%) 0.00 155
    2024-08-01 $278,000 (5.5%) $291,969 (5.4%) 0.00 162
    2024-09-01 $278,000 (4.9%) $291,175 (5.7%) 0.00 172
    2024-10-01 $275,000 (4.4%) $287,415 (4.4%) 0.00 178
    Eagle Pass's median listing price for 2024-10-01 was $275,000, a difference of $11,500 (4.4%) versus the prior year and $-3,000 versus the prior month.

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

    Eagle Pass's average listing price for 2024-10-01 was $287,415, a difference of $12,215 (4.4%) versus the prior year and $-3,760 versus the prior month.

    For the 2024-10-01 period, Eagle Pass had 178 MLS listings, a difference of 6 listings (3%) versus the prior month and 47 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Eagle Pass (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,651 sqft
    2018-02-01 0 days 1,653 sqft
    2018-03-01 0 days 1,567 sqft
    2018-04-01 0 days 1,570 sqft
    2018-05-01 0 days 1,587 sqft
    2018-06-01 0 days 1,592 sqft
    2018-07-01 0 days 1,596 sqft
    2018-08-01 0 days 1,598 sqft
    2018-09-01 0 days 1,605 sqft
    2018-10-01 0 days 1,616 sqft
    2018-11-01 0 days 1,566 sqft
    2018-12-01 0 days 1,560 sqft
    2019-01-01 0 days 1,530 sqft
    2019-02-01 0 days 1,524 sqft
    2019-03-01 0 days 1,511 sqft
    2019-04-01 0 days 1,504 sqft
    2019-05-01 0 days 1,549 sqft
    2019-06-01 0 days 1,550 sqft
    2019-07-01 0 days 1,548 sqft
    2019-08-01 0 days 1,528 sqft
    2019-09-01 0 days 1,503 sqft
    2019-10-01 0 days 1,498 sqft
    2019-11-01 0 days 1,493 sqft
    2019-12-01 0 days 1,519 sqft
    2020-01-01 0 days 1,506 sqft
    2020-02-01 0 days 1,491 sqft
    2020-03-01 0 days 1,507 sqft
    2020-04-01 0 days 1,529 sqft
    2020-05-01 0 days 1,516 sqft
    2020-06-01 0 days 1,510 sqft
    2020-07-01 0 days 1,481 sqft
    2020-08-01 0 days 1,454 sqft
    2020-09-01 0 days 1,456 sqft
    2020-10-01 0 days 1,464 sqft
    2020-11-01 0 days 1,448 sqft
    2020-12-01 0 days 1,445 sqft
    2021-01-01 0 days 1,465 sqft
    2021-02-01 0 days 1,467 sqft
    2021-03-01 0 days 1,463 sqft
    2021-04-01 0 days 1,503 sqft
    2021-05-01 0 days 1,446 sqft
    2021-06-01 0 days 1,431 sqft
    2021-07-01 0 days 1,486 sqft
    2021-08-01 0 days 1,490 sqft
    2021-09-01 0 days 1,489 sqft
    2021-10-01 0 days 1,499 sqft
    2021-11-01 0 days 1,436 sqft
    2021-12-01 0 days 1,418 sqft
    2022-01-01 0 days 1,444 sqft
    2022-02-01 0 days 1,452 sqft
    2022-03-01 0 days 1,460 sqft
    2022-04-01 0 days 1,486 sqft
    2022-05-01 0 days 1,483 sqft
    2022-06-01 0 days 1,483 sqft
    2022-07-01 0 days 1,506 sqft
    2022-08-01 0 days 1,532 sqft
    2022-09-01 0 days 1,538 sqft
    2022-10-01 0 days 1,540 sqft
    2022-11-01 0 days 1,530 sqft
    2022-12-01 0 days 1,530 sqft
    2023-01-01 0 days 1,539 sqft
    2023-02-01 0 days 1,539 sqft
    2023-03-01 0 days 1,542 sqft
    2023-04-01 0 days 1,544 sqft
    2023-05-01 0 days 1,586 sqft
    2023-06-01 0 days 1,581 sqft
    2023-07-01 0 days 1,575 sqft
    2023-08-01 0 days 1,555 sqft
    2023-09-01 0 days 1,550 sqft
    2023-10-01 0 days 1,543 sqft
    2023-11-01 0 days 1,541 sqft
    2023-12-01 0 days 1,523 sqft
    2024-01-01 0 days 1,527 sqft
    2024-02-01 0 days 1,530 sqft
    2024-03-01 0 days 1,529 sqft
    2024-04-01 0 days 1,530 sqft
    2024-05-01 0 days 1,554 sqft
    2024-06-01 0 days 1,554 sqft
    2024-07-01 0 days 1,557 sqft
    2024-08-01 0 days 1,575 sqft
    2024-09-01 0 days 1,554 sqft
    2024-10-01 0 days 1,549 sqft
    Eagle Pass's median listing age (time on market) for 2024-10-01 was 0 days.

    Eagle Pass's median square footage for active listings during the 2024-10-01 period was 1,549 sqft. One year prior, the average listing was 1,543 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).