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 36 lenders originated 73 FHA loans during 2024. The total origination value was $16,285,000, with an average FHA loan value of $223,082.

    El Campo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in El Campo averaged 0.55% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    El Campo's average FHA mortgage closing costs are $8,331.

    The average rate for the prior week (2025-06-27) was 6.63% and one month ago for the week of 2025-05-30, the average rate was 6.71%.

    The average rate one year ago was 6.93%.

    For refis of the same type during the week of 2025-07-04, the average rate was 0.2%.

    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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Flagstar Bank, FSB 7 6.19% $8,631
    QUICKEN LOANS, LLC 5 6.37% $8,825
    SOUTHWEST FUNDING, LP 5 6.82% $11,308
    UNITED WHOLESALE MORTGAGE, LLC 5 6.27% $13,451
    Gateway First Bank 5 6.85% $12,504
    FREEDOM MORTGAGE CORPORATION 4 5.84% $16,235
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.88% $11,716
    PLAZA HOME MORTGAGE, INC. 2 6.75% $12,728
    BROKER SOLUTIONS, INC. 2 6.19% $12,495
    Equity Prime Mortgage LLC 2 6.50% $9,657
    HOMETRUST MORTGAGE COMPANY 1 6.25% $13,484
    INTERLINC MORTGAGE SERVICES, LLC 1 6.75% $7,629
    Mortgage Research Center, LLC 1 7.25% $4,098
    NATIONS RELIABLE LENDING, LLC 1 6.88% $9,135
    NETWORK CAPITAL FUNDING CORPORATION 1 6.13% $13,274
    Network Funding, L.P. 1 6.75% $11,009
    NFM, INC. 1 7.75% $7,878
    Paramount Residential Mortgage Group, Inc. 1 6.63% $11,002
    PILGRIM MORTGAGE LLC 1 7.13% $12,280
    S1L, Inc. 1 7.38% $8,116
    SFMC, LP 1 6.49% $17,747
    TOWNE MORTGAGE COMPANY 1 5.38% $19,499
    US MORTGAGE CORPORATION 1 6.00% $12,125
    Wallick & Volk, Inc. 1 7.00% $6,967
    WILLOW BEND MORTGAGE COMPANY, LLC 1 6.00% $20,079
    AFFORDABLE MORTGAGE ADVISORS, LLC. 1 6.75% $10,371
    Zions Bank 1 6.63% $7,210
    Alcova Mortgage LLC 1 6.25% $17,545
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $14,735
    AMERICAN HOMESTAR MORTGAGE, L.L.C. 1 5.75% $11,931
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.99% $7,422
    CMG MORTGAGE, INC. 1 5.50% $10,352
    CROSSCOUNTRY MORTGAGE, LLC 1 7.63% $7,428
    EAGLE HOME MORTGAGE, LLC 1 3.99% $8,429
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.63% $13,765
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.00% $7,669

    The top El Campo FHA lender as defined by loan originations is Flagstar Bank, FSB, with 7 FHA loans originated. Their average total fees are $8,631, which is $193 lower than the next largest lender, QUICKEN LOANS, LLC.

    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

    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).