Granbury FHA Loans

Granbury, 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.

Granbury's 77 lenders originated 322 FHA loans during 2021. The total origination value was $67,540,000, with an average FHA loan value of $209,752.

Granbury FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Granbury averaged 5.35% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

The average rate for the prior week (2022-07-29) was 5.29% and one month ago for the week of 2022-07-01, the average rate was 5.58%.

The average rate one year ago was 2.98%.

For refis of the same type during the week of 2022-08-05, the average rate was 4.99%.

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

Granbury FHA Loan Lenders by Rates & Fees

The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Granbury level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
GUILD MORTGAGE COMPANY 27 3.41% $8,502
SFMC, LP 27 3.35% $10,222
QUICKEN LOANS, LLC 13 2.75% $6,236
Gateway First Bank 13 3.73% $8,211
DHI MORTGAGE COMPANY, LTD. 12 2.84% $9,011
LAKEVIEW LOAN SERVICING, LLC 11 3.04% $5,054
AMCAP MORTGAGE, LTD. 9 3.51% $10,336
Mr. Cooper ( Nationstar Mortgage ) 7 3.75% $2,835
EVERETT FINANCIAL, INC. 7 4.04% $7,014
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 3.44% $8,706
MID AMERICA MORTGAGE, INC. 6 3.31% $4,450
GUARANTEED RATE, INC. 6 3.15% $10,073
FREEDOM MORTGAGE CORPORATION 5 2.92% $6,780
CERTAINTY HOME LOANS, LLC 5 3.72% $8,079
PLANET HOME LENDING, LLC 5 3.02% $6,414
SECURITYNATIONAL MORTGAGE COMPANY 5 3.40% $9,220
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.42% $9,768
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 2.92% $8,522
LOANDEPOT.COM, LLC 4 3.50% $8,426
ACADEMY MORTGAGE CORPORATION 3 3.25% $8,624
AMERICAN FINANCIAL NETWORK, INC. 3 3.54% $12,201
CROSSCOUNTRY MORTGAGE, LLC 3 3.21% $10,531
AmeriHome Mortgage Company, LLC 3 2.87% $5,735
UNITED WHOLESALE MORTGAGE, LLC 3 2.68% $7,498
VILLAGE CAPITAL & INVESTMENT LLC 3 2.50% $3,229
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.50% $7,984
NEWREZ LLC 2 2.69% $5,396
LEADERONE FINANCIAL CORPORATION 2 2.75% $8,552
BROKER SOLUTIONS, INC. 2 2.80% $8,453
Town Square Mortgage & Investments, Inc. 2 3.44% $8,880
Nations Lending Corporation 2 3.25% $6,807
CALIBER HOME LOANS, INC. 2 2.75% $7,220
EUSTIS AND AMERICAN MORTGAGE COMPANY 2 2.81% $6,542
SOUTHWEST FUNDING, LP 2 3.56% $17,050
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.00% $7,685
PENNYMAC LOAN SERVICES, LLC 2 3.38% $4,155
TEXAS TECH 1 2.63% $8,367
THRIVE MORTGAGE, LLC 1 3.38% $9,413
UNITED MORTGAGE CORP. 1 3.25% $7,376
Wallick & Volk, Inc. 1 3.75% $11,654
Waterstone Mortgage Corporation 1 3.50% $7,535
WILLOW BEND MORTGAGE COMPANY, LLC 1 3.88% $7,728
Affiliated Bank 1 2.75% $8,841
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.75% $13,290
ASPIRE FINANCIAL, INC. 1 2.25% $10,706
AXIA FINANCIAL, LLC 1 4.25% $8,043
Bank of England 1 3.75% $11,398
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 1 2.63% $10,336
CMG MORTGAGE, INC. 1 4.25% $10,903
COUNTRYPLACE MORTGAGE, LTD. 1 3.25% $11,219
DRAPER AND KRAMER MORTGAGE CORP. 1 4.25% $10,173
Equity Prime Mortgage LLC 1 2.75% $4,805
FBC MORTGAGE, LLC 1 2.88% $8,141
FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $7,930
FIRST CENTENNIAL MORTGAGE CORPORATION 1 2.25% $8,524
First Financial Bank 1 2.75% $10,446
First Guaranty Mortgage Corporation 1 2.38% $4,599
First United Bank and Trust Company 1 2.75% $6,485
Goldwater Bank, N.A. 1 3.00% $10,275
HOME POINT FINANCIAL CORPORATION 1 2.25% $4,484
INTERLINC MORTGAGE SERVICES, LLC 1 2.88% $15,597
Loan Simple, Inc. 1 3.75% $9,197
MICHIGAN MUTUAL, INC. 1 4.63% $5,655
Midwest Mortgage Associates Corporation 1 3.00% $8,285
MORTGAGE FINANCIAL SERVICES, LLC 1 3.88% $9,174
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $10,070
MOVEMENT MORTGAGE, LLC 1 3.00% $4,449
NATIONS DIRECT MORTGAGE, LLC 1 2.99% $13,320
NTFN, INC. 1 3.25% $6,944
Paramount Residential Mortgage Group, Inc. 1 3.25% $7,188
PLAZA HOME MORTGAGE, INC. 1 3.13% $12,211
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.75% $9,430
Republic State Mortgage Co. 1 4.00% $7,396
SOUTHWEST STAGE FUNDING, LLC 1 3.88% $2,506
SUCCESS MORTGAGE PARTNERS, INC. 1 3.88% $10,664
SUMMIT FUNDING, INC. 1 3.13% $11,626
SWBC MORTGAGE CORPORATION 1 3.25% $9,941

The top Granbury FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 27 FHA loans originated. Their average total fees are $8,502, which is $1,719 lower than the next largest lender, SFMC, LP.

The lowest fee Granbury FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC ($5,054), QUICKEN LOANS, LLC ($6,236), Gateway First Bank ($8,211), GUILD MORTGAGE COMPANY ($8,502) and DHI MORTGAGE COMPANY, LTD. ($9,011).

The lowest rate Granbury FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.75%), DHI MORTGAGE COMPANY, LTD. (2.84%), LAKEVIEW LOAN SERVICING, LLC (3.04%), SFMC, LP (3.35%) and GUILD MORTGAGE COMPANY (3.41%).

Granbury FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
GRANBURY, TX HOOD 2022 $420,680 $538,650 $651,050 $809,150

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).