Fort Worth FHA Loan Rates, Closing Costs & Stats

FORT WORTH-ARLINGTON-GRAPEVINE, 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.

    Fort Worth FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fort Worth averaged 0% for the week of 2023-11-03, compared to the national average (all FHA variants) of 7.405% for the same period.

    Fort Worth's average FHA mortgage closing costs are $0.

    The average rate for the prior week (2023-10-27) was 0% and one month ago for the week of 2023-09-29, the average rate was 0%.

    The average rate one year ago was 0%.

    For refis of the same type during the week of 2023-11-03, the average rate was 0%.

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

    Fort Worth 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 Fort Worth level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs

    The lowest fee Fort Worth FHA lenders (with over 10 loans originated) are .

    The lowest rate Fort Worth FHA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fort Worth (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 $354,950 (0.0%) $496,773 (-2.5%) 1.32 14,317
    2018-02-01 $369,450 (0.7%) $519,841 (-0.8%) 1.34 14,306
    2018-03-01 $374,279 (0.0%) $528,271 (-2.6%) 1.31 15,283
    2018-04-01 $378,710 (-0.3%) $537,030 (-3.0%) 1.28 16,642
    2018-05-01 $384,950 (0.8%) $543,163 (-1.7%) 1.29 18,234
    2018-06-01 $374,900 (0.0%) $525,196 (-2.9%) 1.25 20,162
    2018-07-01 $366,000 (-0.7%) $511,276 (-2.3%) 1.22 22,057
    2018-08-01 $350,000 (-2.0%) $486,556 (-2.3%) 1.17 22,552
    2018-09-01 $347,124 (-0.8%) $482,982 (-2.8%) 1.17 22,653
    2018-10-01 $345,000 (-1.6%) $482,496 (-3.3%) 1.17 22,820
    2018-11-01 $344,900 (-1.5%) $482,687 (-2.9%) 1.17 22,380
    2018-12-01 $339,990 (-2.9%) $476,790 (-3.4%) 1.17 20,551
    2019-01-01 $339,945 (-4.2%) $472,034 (-5.0%) 1.17 19,006
    2019-02-01 $347,450 (-6.0%) $486,361 (-6.4%) 1.17 19,532
    2019-03-01 $353,714 (-5.5%) $497,752 (-5.8%) 1.16 20,208
    2019-04-01 $360,000 (-4.9%) $508,687 (-5.3%) 1.14 21,056
    2019-05-01 $364,440 (-5.3%) $508,099 (-6.5%) 1.14 22,298
    2019-06-01 $359,085 (-4.2%) $503,330 (-4.2%) 1.12 23,926
    2019-07-01 $355,098 (-3.0%) $493,681 (-3.4%) 1.11 24,747
    2019-08-01 $347,924 (-0.6%) $481,621 (-1.0%) 1.10 24,720
    2019-09-01 $344,825 (-0.7%) $477,904 (-1.1%) 1.10 24,331
    2019-10-01 $344,002 (-0.3%) $477,189 (-1.1%) 1.11 23,820
    2019-11-01 $342,900 (-0.6%) $476,180 (-1.4%) 1.12 22,157
    2019-12-01 $337,495 (-0.7%) $469,599 (-1.5%) 1.13 19,639
    2020-01-01 $336,000 (-1.2%) $466,360 (-1.2%) 1.12 17,957
    2020-02-01 $340,000 (-2.1%) $474,889 (-2.4%) 1.11 17,651
    2020-03-01 $329,221 (-6.9%) $449,476 (-9.7%) 1.03 19,676
    2020-04-01 $339,996 (-5.6%) $471,118 (-7.4%) 1.07 18,627
    2020-05-01 $350,000 (-4.0%) $497,328 (-2.1%) 1.06 18,812
    2020-06-01 $359,000 (0.0%) $514,743 (2.3%) 1.06 16,987
    2020-07-01 $360,000 (1.4%) $523,066 (6.0%) 1.04 15,874
    2020-08-01 $360,000 (3.5%) $531,259 (10.3%) 1.03 14,754
    2020-09-01 $361,500 (4.8%) $542,661 (13.6%) 1.04 13,612
    2020-10-01 $359,000 (4.4%) $549,697 (15.2%) 1.03 12,753
    2020-11-01 $361,450 (5.4%) $559,759 (17.6%) 1.06 11,200
    2020-12-01 $357,430 (5.9%) $558,809 (19.0%) 1.06 9,439
    2021-01-01 $350,000 (4.2%) $551,662 (18.3%) 1.04 8,099
    2021-02-01 $359,450 (5.7%) $576,809 (21.5%) 1.05 6,251
    2021-03-01 $363,998 (10.6%) $577,637 (28.5%) 1.03 5,854
    2021-04-01 $375,000 (10.3%) $593,494 (26.0%) 1.02 5,720
    2021-05-01 $380,000 (8.6%) $582,529 (17.1%) 1.01 6,042
    2021-06-01 $389,900 (8.6%) $589,826 (14.6%) 1.03 6,976
    2021-07-01 $395,600 (9.9%) $575,387 (10.0%) 1.04 8,421
    2021-08-01 $399,000 (10.8%) $565,291 (6.4%) 1.06 9,275
    2021-09-01 $398,431 (10.2%) $562,490 (3.7%) 1.06 8,944
    2021-10-01 $399,000 (11.1%) $574,764 (4.6%) 1.06 8,284
    2021-11-01 $400,000 (10.7%) $583,175 (4.2%) 1.07 7,363
    2021-12-01 $400,000 (11.9%) $583,647 (4.4%) 1.08 6,269
    2022-01-01 $401,988 (14.9%) $596,448 (8.1%) 1.09 4,905
    2022-02-01 $412,000 (14.6%) $639,573 (10.9%) 1.07 4,149
    2022-03-01 $425,000 (16.8%) $656,642 (13.7%) 1.06 4,558
    2022-04-01 $441,320 (17.7%) $672,621 (13.3%) 1.05 5,427
    2022-05-01 $475,500 (25.1%) $677,523 (16.3%) 1.09 8,080
    2022-06-01 $490,233 (25.7%) $672,274 (14.0%) 1.09 11,276
    2022-07-01 $480,000 (21.3%) $644,455 (12.0%) 1.08 14,838
    2022-08-01 $462,500 (15.9%) $617,732 (9.3%) 1.07 16,529
    2022-09-01 $453,950 (13.9%) $610,801 (8.6%) 1.06 16,501
    2022-10-01 $449,999 (12.8%) $612,183 (6.5%) 1.06 17,465
    2022-11-01 $447,500 (11.9%) $609,026 (4.4%) 1.08 17,883
    2022-12-01 $438,959 (9.7%) $598,143 (2.5%) 1.08 16,322
    2023-01-01 $432,500 (7.6%) $589,915 (-1.1%) 1.07 14,677
    2023-02-01 $435,000 (5.6%) $597,856 (-6.5%) 1.05 12,789
    2023-03-01 $442,000 (4.0%) $618,429 (-5.8%) 1.04 12,401
    2023-04-01 $459,900 (4.2%) $648,815 (-3.5%) 1.07 12,533
    2023-05-01 $468,995 (-1.4%) $667,325 (-1.5%) 1.06 13,160
    2023-06-01 $472,912 (-3.5%) $671,644 (-0.1%) 1.06 14,674
    2023-07-01 $469,999 (-2.1%) $666,049 (3.4%) 1.07 16,142
    2023-08-01 $464,376 (0.4%) $651,017 (5.4%) 1.07 16,929
    2023-09-01 $450,000 (-0.9%) $643,819 (5.4%) 1.05 17,285
    Fort Worth's median listing price for 2023-09-01 was $450,000, a difference of $-3,950 (-0.9%) versus the prior year and $-14,376 versus the prior month.

    Fort Worth's median listing price comes in at 105% of the national average.

    Fort Worth's average listing price for 2023-09-01 was $643,819, a difference of $33,018 (5.4%) versus the prior year and $-7,198 versus the prior month.

    For the 2023-09-01 period, Fort Worth had 17,285 MLS listings, a difference of 356 listings (2%) versus the prior month and 784 listings (5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fort Worth (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 64 days 2,590 sqft
    2018-02-01 49 days 2,634 sqft
    2018-03-01 43 days 2,643 sqft
    2018-04-01 39 days 2,675 sqft
    2018-05-01 37 days 2,721 sqft
    2018-06-01 39 days 2,672 sqft
    2018-07-01 40 days 2,627 sqft
    2018-08-01 47 days 2,551 sqft
    2018-09-01 52 days 2,515 sqft
    2018-10-01 56 days 2,498 sqft
    2018-11-01 59 days 2,469 sqft
    2018-12-01 65 days 2,437 sqft
    2019-01-01 67 days 2,414 sqft
    2019-02-01 57 days 2,438 sqft
    2019-03-01 46 days 2,474 sqft
    2019-04-01 44 days 2,506 sqft
    2019-05-01 44 days 2,521 sqft
    2019-06-01 47 days 2,515 sqft
    2019-07-01 49 days 2,489 sqft
    2019-08-01 51 days 2,439 sqft
    2019-09-01 53 days 2,416 sqft
    2019-10-01 54 days 2,405 sqft
    2019-11-01 58 days 2,397 sqft
    2019-12-01 65 days 2,350 sqft
    2020-01-01 66 days 2,327 sqft
    2020-02-01 50 days 2,336 sqft
    2020-03-01 43 days 2,305 sqft
    2020-04-01 49 days 2,328 sqft
    2020-05-01 52 days 2,392 sqft
    2020-06-01 46 days 2,403 sqft
    2020-07-01 45 days 2,396 sqft
    2020-08-01 44 days 2,369 sqft
    2020-09-01 45 days 2,319 sqft
    2020-10-01 46 days 2,294 sqft
    2020-11-01 48 days 2,253 sqft
    2020-12-01 52 days 2,202 sqft
    2021-01-01 49 days 2,155 sqft
    2021-02-01 39 days 2,150 sqft
    2021-03-01 38 days 2,150 sqft
    2021-04-01 30 days 2,146 sqft
    2021-05-01 29 days 2,170 sqft
    2021-06-01 28 days 2,172 sqft
    2021-07-01 28 days 2,170 sqft
    2021-08-01 31 days 2,175 sqft
    2021-09-01 36 days 2,166 sqft
    2021-10-01 36 days 2,154 sqft
    2021-11-01 38 days 2,151 sqft
    2021-12-01 42 days 2,147 sqft
    2022-01-01 41 days 2,123 sqft
    2022-02-01 32 days 2,104 sqft
    2022-03-01 24 days 2,116 sqft
    2022-04-01 23 days 2,153 sqft
    2022-05-01 21 days 2,248 sqft
    2022-06-01 22 days 2,304 sqft
    2022-07-01 29 days 2,293 sqft
    2022-08-01 35 days 2,261 sqft
    2022-09-01 43 days 2,248 sqft
    2022-10-01 44 days 2,246 sqft
    2022-11-01 49 days 2,241 sqft
    2022-12-01 59 days 2,215 sqft
    2023-01-01 64 days 2,189 sqft
    2023-02-01 59 days 2,191 sqft
    2023-03-01 46 days 2,217 sqft
    2023-04-01 39 days 2,272 sqft
    2023-05-01 37 days 2,305 sqft
    2023-06-01 36 days 2,321 sqft
    2023-07-01 37 days 2,318 sqft
    2023-08-01 42 days 2,295 sqft
    2023-09-01 44 days 2,248 sqft
    Fort Worth's median listing age (time on market) for 2023-09-01 was 44 days. This is 4% longer than the same period one year ago.

    Fort Worth's median square footage for active listings during the 2023-09-01 period was 2,248 sqft. One year prior, the average listing was 2,248 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).