El Campo FHA Loan Rates, Closing Costs & Stats

El Campo, 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.

    El Campo's 32 lenders originated 68 FHA loans during 2023. The total origination value was $15,000,000, with an average FHA loan value of $220,588.

    El Campo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in El Campo averaged 6.98% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    El Campo's average FHA mortgage closing costs are $7,943.

    The average rate for the prior week (2024-04-12) was 6.97% and one month ago for the week of 2024-03-15, the average rate was 6.54%.

    The average rate one year ago was 6.46%.

    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.

    El Campo 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 El Campo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Flagstar Bank, FSB 6 6.56% $7,734
    AMERICAN PACIFIC MORTGAGE CORPORATION 5 7.00% $8,014
    QUICKEN LOANS, LLC 5 6.24% $9,871
    UNITED WHOLESALE MORTGAGE, LLC 4 6.06% $12,683
    CMG MORTGAGE, INC. 4 6.31% $11,568
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 4 7.09% $12,020
    PRIMELENDING, A PLAINSCAPITAL COMPANY 4 6.84% $11,170
    Network Funding, L.P. 3 6.21% $10,483
    EVERETT FINANCIAL, INC. 2 5.94% $11,425
    SUCCESS MORTGAGE PARTNERS, INC. 2 7.44% $9,195
    Gateway First Bank 2 7.00% $9,299
    ENVOY MORTGAGE, LTD 2 7.63% $11,193
    GUARANTEED RATE, INC. 1 7.25% $16,232
    GUILD MORTGAGE COMPANY 1 6.13% $9,845
    T2 FINANCIAL LLC 1 7.25% $12,334
    LOANDEPOT.COM, LLC 1 6.00% $8,678
    MOVEMENT MORTGAGE, LLC 1 6.75% $14,899
    Equity Prime Mortgage LLC 1 6.75% $12,712
    Paramount Residential Mortgage Group, Inc. 1 6.75% $8,356
    PLAZA HOME MORTGAGE, INC. 1 6.75% $15,968
    CALCON MUTUAL MORTGAGE LLC 1 7.75% $13,048
    Prosperity Bank 1 5.63% $8,618
    Prosperity Home Mortgage, LLC 1 8.25% $8,792
    CARDINAL FINANCIAL 1 7.25% $13,262
    S1L, Inc. 1 5.75% $8,358
    Citizens Bank 1 6.88% $8,345
    SWBC MORTGAGE CORPORATION 1 8.13% $9,374
    NATIONS RELIABLE LENDING, LLC 1 6.63% $16,772
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.63% $13,040
    First National Bank 1 6.25% $12,645
    Carrington Mortgage Services, LLC 1 6.13% $17,108
    GARDNER FINANCIAL SERVICES, LTD. 1 6.38% $8,628

    The top El Campo FHA lender as defined by loan originations is Flagstar Bank, FSB, with 6 FHA loans originated. Their average total fees are $7,734, which is $280 lower than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee El Campo FHA lenders (with over 10 loans originated) are .

    The lowest rate El Campo FHA lenders (with over 10 loans originated) are .

    El Campo FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - El Campo (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 $183,500 (7.6%) $204,283 (8.5%) 0.00 111
    2018-02-01 $189,000 (8.0%) $217,507 (14.6%) 0.00 104
    2018-03-01 $183,500 (-2.4%) $216,244 (8.2%) 0.00 107
    2018-04-01 $193,500 (-0.8%) $223,029 (4.7%) 0.00 119
    2018-05-01 $195,950 (0.1%) $231,238 (8.2%) 0.00 122
    2018-06-01 $198,800 (-4.2%) $234,755 (3.6%) 0.00 132
    2018-07-01 $209,500 (5.1%) $238,921 (7.2%) 0.00 127
    2018-08-01 $202,000 (3.6%) $238,447 (8.4%) 0.00 136
    2018-09-01 $189,000 (-3.1%) $221,707 (2.1%) 0.00 136
    2018-10-01 $174,313 (-9.4%) $210,479 (1.5%) 0.00 138
    2018-11-01 $188,000 (-2.8%) $209,948 (2.3%) 0.00 136
    2018-12-01 $187,000 (3.9%) $214,719 (6.6%) 0.00 134
    2019-01-01 $189,375 (3.2%) $219,080 (7.2%) 0.00 124
    2019-02-01 $181,250 (-4.1%) $216,762 (-0.3%) 0.00 136
    2019-03-01 $189,214 (3.1%) $225,621 (4.3%) 0.00 131
    2019-04-01 $192,250 (-0.7%) $230,711 (3.4%) 0.00 124
    2019-05-01 $192,250 (-1.9%) $234,595 (1.5%) 0.00 119
    2019-06-01 $189,000 (-4.9%) $235,021 (0.1%) 0.00 120
    2019-07-01 $190,675 (-9.0%) $231,142 (-3.3%) 0.00 133
    2019-08-01 $189,723 (-6.1%) $228,310 (-4.3%) 0.00 134
    2019-09-01 $189,457 (0.2%) $223,712 (0.9%) 0.00 130
    2019-10-01 $190,780 (9.5%) $219,375 (4.2%) 0.00 132
    2019-11-01 $184,900 (-1.7%) $215,056 (2.4%) 0.00 136
    2019-12-01 $184,950 (-1.1%) $222,350 (3.6%) 0.00 126
    2020-01-01 $180,000 (-5.0%) $211,815 (-3.3%) 0.00 117
    2020-02-01 $198,500 (9.5%) $232,065 (7.1%) 0.00 126
    2020-03-01 $191,223 (1.1%) $229,447 (1.7%) 0.00 132
    2020-04-01 $187,500 (-2.5%) $221,328 (-4.1%) 0.00 129
    2020-05-01 $195,000 (1.4%) $230,598 (-1.7%) 0.00 130
    2020-06-01 $201,850 (6.8%) $230,040 (-2.1%) 0.00 133
    2020-07-01 $188,998 (-0.9%) $221,253 (-4.3%) 0.00 119
    2020-08-01 $193,000 (1.7%) $233,010 (2.1%) 0.00 116
    2020-09-01 $188,637 (-0.4%) $231,770 (3.6%) 0.00 116
    2020-10-01 $185,000 (-3.0%) $224,204 (2.2%) 0.00 111
    2020-11-01 $179,419 (-3.0%) $222,770 (3.6%) 0.00 98
    2020-12-01 $179,225 (-3.1%) $216,674 (-2.6%) 0.00 90
    2021-01-01 $188,955 (5.0%) $220,000 (3.9%) 0.00 92
    2021-02-01 $199,000 (0.3%) $238,204 (2.7%) 0.00 100
    2021-03-01 $199,975 (4.6%) $241,393 (5.2%) 0.00 90
    2021-04-01 $221,200 (18.0%) $245,255 (10.8%) 0.00 79
    2021-05-01 $219,900 (12.8%) $244,366 (6.0%) 0.00 76
    2021-06-01 $191,975 (-4.9%) $244,842 (6.4%) 0.00 72
    2021-07-01 $190,000 (0.5%) $233,426 (5.5%) 0.00 82
    2021-08-01 $232,500 (20.5%) $255,252 (9.6%) 0.00 91
    2021-09-01 $256,975 (36.2%) $275,571 (18.9%) 0.00 94
    2021-10-01 $243,125 (31.4%) $257,728 (15.0%) 0.00 99
    2021-11-01 $226,000 (26.0%) $253,342 (13.7%) 0.00 102
    2021-12-01 $228,375 (27.4%) $269,800 (24.5%) 0.00 98
    2022-01-01 $220,000 (16.4%) $261,602 (18.9%) 0.00 98
    2022-02-01 $215,000 (8.0%) $265,222 (11.3%) 0.00 103
    2022-03-01 $217,250 (8.6%) $268,295 (11.1%) 0.00 108
    2022-04-01 $214,999 (-2.8%) $255,850 (4.3%) 0.00 107
    2022-05-01 $229,950 (4.6%) $257,660 (5.4%) 0.00 101
    2022-06-01 $259,225 (35.0%) $262,491 (7.2%) 0.00 102
    2022-07-01 $254,999 (34.2%) $267,494 (14.6%) 0.00 117
    2022-08-01 $246,000 (5.8%) $271,925 (6.5%) 0.00 126
    2022-09-01 $240,000 (-6.6%) $268,305 (-2.6%) 0.00 122
    2022-10-01 $245,000 (0.8%) $264,196 (2.5%) 0.00 127
    2022-11-01 $251,250 (11.2%) $264,389 (4.4%) 0.00 136
    2022-12-01 $262,000 (14.7%) $266,354 (-1.3%) 0.00 126
    2023-01-01 $257,925 (17.2%) $262,417 (0.3%) 0.00 125
    2023-02-01 $267,500 (24.4%) $266,154 (0.4%) 0.00 123
    2023-03-01 $258,000 (18.8%) $263,476 (-1.8%) 0.00 130
    2023-04-01 $249,500 (16.1%) $255,294 (-0.2%) 0.00 130
    2023-05-01 $249,975 (8.7%) $262,312 (1.8%) 0.00 103
    2023-06-01 $258,750 (-0.2%) $278,636 (6.2%) 0.00 98
    2023-07-01 $246,300 (-3.4%) $269,950 (0.9%) 0.00 107
    2023-08-01 $226,000 (-8.1%) $253,795 (-6.7%) 0.00 117
    2023-09-01 $230,000 (-4.2%) $260,070 (-3.1%) 0.00 117
    2023-10-01 $249,300 (1.8%) $267,958 (1.4%) 0.00 123
    2023-11-01 $241,250 (-4.0%) $271,894 (2.8%) 0.00 127
    2023-12-01 $255,000 (-2.7%) $282,550 (6.1%) 0.00 121
    2024-01-01 $260,000 (0.8%) $289,214 (10.2%) 0.00 99
    2024-02-01 $245,625 (-8.2%) $272,612 (2.4%) 0.00 96
    2024-03-01 $248,700 (-3.6%) $284,966 (8.2%) 0.00 94
    El Campo's median listing price for 2024-03-01 was $248,700, a difference of $-9,300 (-3.6%) versus the prior year and $3,075 versus the prior month.

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

    El Campo's average listing price for 2024-03-01 was $284,966, a difference of $21,490 (8.2%) versus the prior year and $12,354 versus the prior month.

    For the 2024-03-01 period, El Campo had 94 MLS listings, a difference of -2 listings (-2%) versus the prior month and -36 listings (-28%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - El Campo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,054 sqft
    2018-02-01 0 days 2,133 sqft
    2018-03-01 0 days 2,135 sqft
    2018-04-01 0 days 2,127 sqft
    2018-05-01 0 days 2,132 sqft
    2018-06-01 0 days 2,140 sqft
    2018-07-01 0 days 2,112 sqft
    2018-08-01 0 days 2,090 sqft
    2018-09-01 0 days 2,036 sqft
    2018-10-01 0 days 1,969 sqft
    2018-11-01 0 days 1,935 sqft
    2018-12-01 0 days 1,985 sqft
    2019-01-01 0 days 1,953 sqft
    2019-02-01 0 days 1,889 sqft
    2019-03-01 0 days 1,910 sqft
    2019-04-01 0 days 1,914 sqft
    2019-05-01 0 days 1,904 sqft
    2019-06-01 0 days 1,811 sqft
    2019-07-01 0 days 1,750 sqft
    2019-08-01 0 days 1,753 sqft
    2019-09-01 0 days 1,743 sqft
    2019-10-01 0 days 1,737 sqft
    2019-11-01 0 days 1,740 sqft
    2019-12-01 0 days 1,746 sqft
    2020-01-01 0 days 1,754 sqft
    2020-02-01 0 days 1,808 sqft
    2020-03-01 0 days 1,774 sqft
    2020-04-01 0 days 1,747 sqft
    2020-05-01 0 days 1,808 sqft
    2020-06-01 0 days 1,807 sqft
    2020-07-01 0 days 1,744 sqft
    2020-08-01 0 days 1,743 sqft
    2020-09-01 0 days 1,724 sqft
    2020-10-01 0 days 1,734 sqft
    2020-11-01 0 days 1,768 sqft
    2020-12-01 0 days 1,765 sqft
    2021-01-01 0 days 1,761 sqft
    2021-02-01 0 days 1,764 sqft
    2021-03-01 0 days 1,792 sqft
    2021-04-01 0 days 1,827 sqft
    2021-05-01 0 days 1,851 sqft
    2021-06-01 0 days 1,790 sqft
    2021-07-01 0 days 1,714 sqft
    2021-08-01 0 days 1,826 sqft
    2021-09-01 0 days 1,868 sqft
    2021-10-01 0 days 1,760 sqft
    2021-11-01 0 days 1,710 sqft
    2021-12-01 0 days 1,676 sqft
    2022-01-01 0 days 1,622 sqft
    2022-02-01 0 days 1,631 sqft
    2022-03-01 0 days 1,640 sqft
    2022-04-01 0 days 1,640 sqft
    2022-05-01 0 days 1,812 sqft
    2022-06-01 0 days 1,709 sqft
    2022-07-01 0 days 1,710 sqft
    2022-08-01 0 days 1,714 sqft
    2022-09-01 0 days 1,730 sqft
    2022-10-01 0 days 1,743 sqft
    2022-11-01 0 days 1,786 sqft
    2022-12-01 0 days 1,774 sqft
    2023-01-01 0 days 1,724 sqft
    2023-02-01 0 days 1,680 sqft
    2023-03-01 0 days 1,660 sqft
    2023-04-01 0 days 1,660 sqft
    2023-05-01 0 days 1,655 sqft
    2023-06-01 0 days 1,747 sqft
    2023-07-01 0 days 1,751 sqft
    2023-08-01 0 days 1,704 sqft
    2023-09-01 0 days 1,699 sqft
    2023-10-01 0 days 1,774 sqft
    2023-11-01 0 days 1,759 sqft
    2023-12-01 0 days 1,833 sqft
    2024-01-01 0 days 1,865 sqft
    2024-02-01 0 days 1,808 sqft
    2024-03-01 0 days 1,842 sqft
    El Campo's median listing age (time on market) for 2024-03-01 was 0 days.

    El Campo's median square footage for active listings during the 2024-03-01 period was 1,842 sqft. One year prior, the average listing was 1,660 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).