Fredericksburg FHA Loan Rates, Closing Costs & Stats

Fredericksburg, TX

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.

Fredericksburg's 13 lenders originated 21 FHA loans during 2023. The total origination value was $7,065,000, with an average FHA loan value of $336,429.

Fredericksburg FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fredericksburg averaged 6.22% for the week of 2024-12-06, compared to the national average (all FHA variants) of 6.363% for the same period.

Fredericksburg's average FHA mortgage closing costs are $10,286.

The average rate for the prior week (2024-11-29) was 6.36% and one month ago for the week of 2024-11-01, the average rate was 6.56%.

The average rate one year ago was 7.09%.

For refis of the same type during the week of 2024-12-06, the average rate was 6.16%.

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

Fredericksburg 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 Fredericksburg level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 3 6.58% $15,184
V.I.P. MORTGAGE, INC. 2 6.13% $13,362
CALCON MUTUAL MORTGAGE LLC 1 5.75% $18,543
CORNERSTONE HOME LENDING, INC. 1 6.25% $20,047
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 5.50% $11,315
LOANPEOPLE, LLC 1 7.63% $20,136
ACADEMY MORTGAGE CORPORATION 1 5.88% $16,982
Prosperity Home Mortgage, LLC 1 5.88% $15,965
SWBC MORTGAGE CORPORATION 1 6.25% $17,890
THRIVE MORTGAGE, LLC 1 7.13% $22,177
UNITED WHOLESALE MORTGAGE, LLC 1 8.12% $12,442
NEWREZ LLC 1 6.63% $11,784
AMCAP MORTGAGE, LTD. 1 7.38% $11,331

The top Fredericksburg FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 3 FHA loans originated. Their average total fees are $15,184, which is $1,822 higher than the next largest lender, V.I.P. MORTGAGE, INC..

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

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

Fredericksburg FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Fredericksburg (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 $499,600 (-9.0%) $761,638 (-11.0%) 0.00 231
2018-02-01 $499,700 (-9.9%) $761,461 (-11.6%) 0.00 234
2018-03-01 $499,000 (-10.8%) $732,758 (-15.4%) 0.00 254
2018-04-01 $499,400 (-13.0%) $751,109 (-11.8%) 0.00 260
2018-05-01 $495,000 (-13.2%) $740,380 (-14.6%) 0.00 268
2018-06-01 $502,000 (-12.6%) $734,462 (-7.7%) 0.00 264
2018-07-01 $506,000 (-14.1%) $746,373 (-5.9%) 0.00 257
2018-08-01 $531,750 (-3.3%) $767,410 (1.3%) 0.00 254
2018-09-01 $545,000 (3.8%) $788,414 (1.9%) 0.00 253
2018-10-01 $549,000 (0.0%) $782,365 (0.5%) 0.00 249
2018-11-01 $534,213 (1.6%) $779,484 (2.8%) 0.00 243
2018-12-01 $517,000 (-5.8%) $794,994 (4.8%) 0.00 238
2019-01-01 $530,138 (6.1%) $802,674 (5.4%) 0.00 219
2019-02-01 $525,000 (5.1%) $776,257 (1.9%) 0.00 219
2019-03-01 $543,586 (8.9%) $798,712 (9.0%) 0.00 219
2019-04-01 $549,850 (10.1%) $808,191 (7.6%) 0.00 223
2019-05-01 $590,000 (19.2%) $826,468 (11.6%) 0.00 229
2019-06-01 $550,000 (9.6%) $804,614 (9.6%) 0.00 232
2019-07-01 $529,000 (4.6%) $769,409 (3.1%) 0.00 229
2019-08-01 $514,155 (-3.3%) $759,142 (-1.1%) 0.00 245
2019-09-01 $506,136 (-7.1%) $774,752 (-1.7%) 0.00 258
2019-10-01 $513,341 (-6.5%) $787,318 (0.6%) 0.00 265
2019-11-01 $504,750 (-5.5%) $772,815 (-0.9%) 0.00 260
2019-12-01 $504,500 (-2.4%) $837,551 (5.4%) 0.00 244
2020-01-01 $501,750 (-5.4%) $785,556 (-2.1%) 0.00 211
2020-02-01 $571,750 (8.9%) $868,750 (11.9%) 0.00 210
2020-03-01 $603,833 (11.1%) $927,079 (16.1%) 0.00 212
2020-04-01 $598,500 (8.9%) $908,325 (12.4%) 0.00 238
2020-05-01 $599,450 (1.6%) $902,327 (9.2%) 0.00 236
2020-06-01 $604,925 (10.0%) $905,313 (12.5%) 0.00 231
2020-07-01 $647,500 (22.4%) $931,729 (21.1%) 0.00 204
2020-08-01 $649,000 (26.2%) $901,172 (18.7%) 0.00 189
2020-09-01 $646,500 (27.7%) $889,912 (14.9%) 0.00 174
2020-10-01 $680,000 (32.5%) $1,009,077 (28.2%) 0.00 162
2020-11-01 $686,000 (35.9%) $1,018,324 (31.8%) 0.00 153
2020-12-01 $733,625 (45.4%) $1,132,428 (35.2%) 0.00 128
2021-01-01 $750,000 (49.5%) $1,151,385 (46.6%) 0.00 99
2021-02-01 $845,875 (47.9%) $1,211,104 (39.4%) 0.00 87
2021-03-01 $833,725 (38.1%) $1,144,779 (23.5%) 0.00 84
2021-04-01 $905,750 (51.3%) $1,316,591 (45.0%) 0.00 64
2021-05-01 $888,000 (48.1%) $1,282,568 (42.1%) 0.00 61
2021-06-01 $863,000 (42.7%) $1,375,589 (52.0%) 0.00 75
2021-07-01 $799,500 (23.5%) $1,202,409 (29.1%) 0.00 101
2021-08-01 $787,000 (21.3%) $1,301,870 (44.5%) 0.00 100
2021-09-01 $797,250 (23.3%) $1,326,066 (49.0%) 0.00 117
2021-10-01 $849,500 (24.9%) $1,339,678 (32.8%) 0.00 110
2021-11-01 $899,000 (31.1%) $1,461,234 (43.5%) 0.00 93
2021-12-01 $918,425 (25.2%) $1,444,942 (27.6%) 0.00 90
2022-01-01 $989,000 (31.9%) $1,518,246 (31.9%) 0.00 79
2022-02-01 $1,068,625 (26.3%) $1,576,226 (30.2%) 0.00 71
2022-03-01 $1,195,000 (43.3%) $1,683,610 (47.1%) 0.00 70
2022-04-01 $1,187,500 (31.1%) $1,703,274 (29.4%) 0.00 75
2022-05-01 $934,500 (5.2%) $1,471,508 (14.7%) 0.00 101
2022-06-01 $881,000 (2.1%) $1,375,632 (0.0%) 0.00 130
2022-07-01 $775,000 (-3.1%) $1,189,636 (-1.1%) 0.00 148
2022-08-01 $754,375 (-4.2%) $1,191,125 (-8.5%) 0.00 164
2022-09-01 $743,125 (-6.8%) $1,155,068 (-12.9%) 0.00 165
2022-10-01 $722,250 (-15.0%) $1,146,411 (-14.4%) 0.00 178
2022-11-01 $704,350 (-21.7%) $1,213,636 (-16.9%) 0.00 183
2022-12-01 $698,500 (-24.0%) $1,268,821 (-12.2%) 0.00 185
2023-01-01 $697,000 (-29.5%) $1,283,674 (-15.5%) 0.00 185
2023-02-01 $782,500 (-26.8%) $1,309,472 (-16.9%) 0.00 197
2023-03-01 $774,500 (-35.2%) $1,301,552 (-22.7%) 0.00 223
2023-04-01 $799,000 (-32.7%) $1,291,638 (-24.2%) 0.00 237
2023-05-01 $829,800 (-11.2%) $1,341,563 (-8.8%) 0.00 250
2023-06-01 $824,775 (-6.4%) $1,355,676 (-1.5%) 0.00 258
2023-07-01 $798,500 (3.0%) $1,350,208 (13.5%) 0.00 269
2023-08-01 $782,000 (3.7%) $1,292,149 (8.5%) 0.00 278
2023-09-01 $787,500 (6.0%) $1,249,058 (8.1%) 0.00 303
2023-10-01 $799,000 (10.6%) $1,277,577 (11.4%) 0.00 303
2023-11-01 $798,000 (13.3%) $1,248,785 (2.9%) 0.00 314
2023-12-01 $799,000 (14.4%) $1,223,084 (-3.6%) 0.00 289
2024-01-01 $797,000 (14.4%) $1,277,468 (-0.5%) 0.00 256
2024-02-01 $796,000 (1.7%) $1,291,688 (-1.4%) 0.00 275
2024-03-01 $825,000 (6.5%) $1,305,155 (0.3%) 0.00 286
2024-04-01 $839,875 (5.1%) $1,299,884 (0.6%) 0.00 308
2024-05-01 $829,350 (-0.1%) $1,301,391 (-3.0%) 0.00 316
2024-06-01 $799,000 (-3.1%) $1,348,022 (-0.6%) 0.00 370
2024-07-01 $799,850 (0.2%) $1,397,810 (3.5%) 0.00 398
2024-08-01 $801,166 (2.5%) $1,403,705 (8.6%) 0.00 382
2024-09-01 $839,975 (6.7%) $1,413,329 (13.2%) 0.00 378
2024-10-01 $847,500 (6.1%) $1,475,853 (15.5%) 0.00 392
2024-11-01 $845,000 (5.9%) $1,485,234 (18.9%) 0.00 395
Fredericksburg's median listing price for 2024-11-01 was $845,000, a difference of $47,000 (5.9%) versus the prior year and $-2,500 versus the prior month.

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

Fredericksburg's average listing price for 2024-11-01 was $1,485,234, a difference of $236,449 (18.9%) versus the prior year and $9,381 versus the prior month.

For the 2024-11-01 period, Fredericksburg had 395 MLS listings, a difference of 3 listings (1%) versus the prior month and 81 listings (26%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Fredericksburg (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,238 sqft
2018-02-01 0 days 2,245 sqft
2018-03-01 0 days 2,229 sqft
2018-04-01 0 days 2,324 sqft
2018-05-01 0 days 2,319 sqft
2018-06-01 0 days 2,318 sqft
2018-07-01 0 days 2,334 sqft
2018-08-01 0 days 2,313 sqft
2018-09-01 0 days 2,335 sqft
2018-10-01 0 days 2,279 sqft
2018-11-01 0 days 2,255 sqft
2018-12-01 0 days 2,227 sqft
2019-01-01 0 days 2,191 sqft
2019-02-01 0 days 2,145 sqft
2019-03-01 0 days 2,118 sqft
2019-04-01 0 days 2,038 sqft
2019-05-01 0 days 2,032 sqft
2019-06-01 0 days 2,001 sqft
2019-07-01 0 days 1,943 sqft
2019-08-01 0 days 1,938 sqft
2019-09-01 0 days 1,949 sqft
2019-10-01 0 days 1,958 sqft
2019-11-01 0 days 1,972 sqft
2019-12-01 0 days 2,025 sqft
2020-01-01 0 days 2,033 sqft
2020-02-01 0 days 2,143 sqft
2020-03-01 0 days 2,220 sqft
2020-04-01 0 days 2,221 sqft
2020-05-01 0 days 2,246 sqft
2020-06-01 0 days 2,245 sqft
2020-07-01 0 days 2,260 sqft
2020-08-01 0 days 2,317 sqft
2020-09-01 0 days 2,243 sqft
2020-10-01 0 days 2,231 sqft
2020-11-01 0 days 2,216 sqft
2020-12-01 0 days 2,470 sqft
2021-01-01 0 days 2,484 sqft
2021-02-01 0 days 2,560 sqft
2021-03-01 0 days 2,711 sqft
2021-04-01 0 days 2,800 sqft
2021-05-01 0 days 2,619 sqft
2021-06-01 0 days 2,287 sqft
2021-07-01 0 days 2,175 sqft
2021-08-01 0 days 2,089 sqft
2021-09-01 0 days 2,119 sqft
2021-10-01 0 days 2,192 sqft
2021-11-01 0 days 2,327 sqft
2021-12-01 0 days 2,354 sqft
2022-01-01 0 days 2,400 sqft
2022-02-01 0 days 2,633 sqft
2022-03-01 0 days 2,639 sqft
2022-04-01 0 days 2,722 sqft
2022-05-01 0 days 2,074 sqft
2022-06-01 0 days 2,024 sqft
2022-07-01 0 days 1,976 sqft
2022-08-01 0 days 1,980 sqft
2022-09-01 0 days 2,000 sqft
2022-10-01 0 days 2,001 sqft
2022-11-01 0 days 2,036 sqft
2022-12-01 0 days 2,019 sqft
2023-01-01 0 days 2,025 sqft
2023-02-01 0 days 2,058 sqft
2023-03-01 0 days 2,053 sqft
2023-04-01 0 days 2,082 sqft
2023-05-01 0 days 2,156 sqft
2023-06-01 0 days 2,188 sqft
2023-07-01 0 days 2,183 sqft
2023-08-01 0 days 2,195 sqft
2023-09-01 0 days 2,208 sqft
2023-10-01 0 days 2,202 sqft
2023-11-01 0 days 2,188 sqft
2023-12-01 0 days 2,174 sqft
2024-01-01 0 days 2,120 sqft
2024-02-01 0 days 2,138 sqft
2024-03-01 0 days 2,136 sqft
2024-04-01 0 days 2,168 sqft
2024-05-01 0 days 2,202 sqft
2024-06-01 0 days 2,193 sqft
2024-07-01 0 days 2,225 sqft
2024-08-01 0 days 2,189 sqft
2024-09-01 0 days 2,196 sqft
2024-10-01 0 days 2,261 sqft
2024-11-01 0 days 2,253 sqft
Fredericksburg's median listing age (time on market) for 2024-11-01 was 0 days.

Fredericksburg's median square footage for active listings during the 2024-11-01 period was 2,253 sqft. One year prior, the average listing was 2,188 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).