Houston FHA Loans
HOUSTON-THE WOODLANDS-SUGAR LAND, 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.
Houston's 326 lenders originated 36,211 FHA loans during 2021. The total origination value was $8,646,885,000, with an average FHA loan value of $238,792.
Houston FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Houston
averaged
5.25%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.28% and
one month ago for the week of 2022-04-08, the
average rate was 5.14%.
The average rate one year ago was 2.95%.
For refis of the same type during the week of 2022-05-13, the average rate
was 4.88%.
Houston 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 Houston level.
The top Houston FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
1,781 FHA loans originated. Their average total fees are
$8,475, which is $1,990
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Houston FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,590), OCEANSIDE MORTGAGE COMPANY ($3,242), ENDEAVOR CAPITAL, LLC. ($3,696), Low VA Rates, LLC ($4,072) and Mr. Cooper ( Nationstar Mortgage ) ($4,283).
The lowest rate Houston FHA lenders (with over 10 loans originated) are
ASPIRE FINANCIAL, INC. (2.56%), LOANPAL, LLC (2.57%), ZILLOW HOME LOANS, LLC (2.61%), UNIVERSITY Federal Credit Union (2.61%) and South Pacific Financial Corporation (2.65%).
Houston FHA Loan Limits
| Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
|---|---|---|---|---|---|---|
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | AUSTIN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | BRAZORIA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | CHAMBERS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | FORT BEND | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | GALVESTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | HARRIS | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | LIBERTY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | MONTGOMERY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | WALLER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Houston (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 | $318,218 (2.9%) | $434,232 (3.1%) | 1.17 | 22,542 |
| 2018-02-01 | $321,792 (3.8%) | $441,013 (4.0%) | 1.16 | 22,496 |
| 2018-03-01 | $325,000 (3.1%) | $448,450 (3.7%) | 1.12 | 23,396 |
| 2018-04-01 | $329,106 (2.9%) | $455,117 (4.1%) | 1.10 | 25,319 |
| 2018-05-01 | $329,929 (3.1%) | $457,619 (4.7%) | 1.10 | 26,750 |
| 2018-06-01 | $329,000 (3.0%) | $455,069 (5.1%) | 1.10 | 28,186 |
| 2018-07-01 | $323,780 (3.1%) | $446,621 (5.0%) | 1.08 | 29,519 |
| 2018-08-01 | $319,450 (4.1%) | $439,461 (5.0%) | 1.07 | 29,954 |
| 2018-09-01 | $317,500 (3.0%) | $437,962 (3.8%) | 1.06 | 29,436 |
| 2018-10-01 | $314,900 (1.6%) | $436,177 (1.9%) | 1.05 | 29,161 |
| 2018-11-01 | $310,000 (-1.6%) | $436,193 (1.1%) | 1.04 | 28,620 |
| 2018-12-01 | $309,000 (-1.9%) | $431,533 (0.4%) | 1.06 | 27,464 |
| 2019-01-01 | $309,450 (-2.8%) | $431,363 (-0.7%) | 1.07 | 26,390 |
| 2019-02-01 | $311,598 (-3.2%) | $437,425 (-0.8%) | 1.04 | 26,579 |
| 2019-03-01 | $318,728 (-1.9%) | $447,895 (-0.1%) | 1.04 | 27,229 |
| 2019-04-01 | $324,356 (-1.4%) | $456,595 (0.3%) | 1.02 | 28,189 |
| 2019-05-01 | $324,964 (-1.5%) | $457,695 (0.0%) | 1.00 | 29,249 |
| 2019-06-01 | $324,000 (-1.5%) | $454,060 (-0.2%) | 1.00 | 30,548 |
| 2019-07-01 | $318,000 (-1.8%) | $446,609 (0.0%) | 0.99 | 31,454 |
| 2019-08-01 | $313,081 (-2.0%) | $443,388 (0.9%) | 0.99 | 30,486 |
| 2019-09-01 | $310,008 (-2.4%) | $441,639 (0.8%) | 0.98 | 29,349 |
| 2019-10-01 | $309,950 (-1.6%) | $440,437 (1.0%) | 0.99 | 29,288 |
| 2019-11-01 | $305,000 (-1.6%) | $440,568 (1.0%) | 0.98 | 28,375 |
| 2019-12-01 | $299,999 (-2.9%) | $438,028 (1.5%) | 1.00 | 26,651 |
| 2020-01-01 | $299,990 (-3.1%) | $442,408 (2.6%) | 1.00 | 25,281 |
| 2020-02-01 | $305,000 (-2.1%) | $449,159 (2.7%) | 0.98 | 25,308 |
| 2020-03-01 | $314,998 (-1.2%) | $457,919 (2.2%) | 0.98 | 26,182 |
| 2020-04-01 | $314,990 (-2.9%) | $453,195 (-0.7%) | 0.98 | 26,805 |
| 2020-05-01 | $320,000 (-1.5%) | $463,552 (1.3%) | 0.97 | 25,914 |
| 2020-06-01 | $328,084 (1.3%) | $482,952 (6.4%) | 0.96 | 23,939 |
| 2020-07-01 | $327,923 (3.1%) | $485,403 (8.7%) | 0.94 | 22,833 |
| 2020-08-01 | $329,900 (5.4%) | $494,085 (11.4%) | 0.94 | 21,926 |
| 2020-09-01 | $339,950 (9.7%) | $510,845 (15.7%) | 0.97 | 20,467 |
| 2020-10-01 | $340,480 (9.9%) | $510,746 (16.0%) | 0.97 | 19,718 |
| 2020-11-01 | $340,000 (11.5%) | $510,543 (15.9%) | 0.97 | 19,036 |
| 2020-12-01 | $334,500 (11.5%) | $500,863 (14.4%) | 0.98 | 17,674 |
| 2021-01-01 | $330,000 (10.0%) | $499,078 (12.8%) | 0.97 | 15,938 |
| 2021-02-01 | $334,559 (9.7%) | $508,113 (13.1%) | 0.96 | 14,129 |
| 2021-03-01 | $341,450 (8.4%) | $521,481 (13.9%) | 0.96 | 12,808 |
| 2021-04-01 | $349,700 (11.0%) | $539,757 (19.1%) | 0.94 | 12,133 |
| 2021-05-01 | $359,900 (12.5%) | $554,489 (19.6%) | 0.95 | 12,060 |
| 2021-06-01 | $366,052 (11.6%) | $556,646 (15.3%) | 0.95 | 13,451 |
| 2021-07-01 | $366,041 (11.6%) | $545,427 (12.4%) | 0.95 | 14,756 |
| 2021-08-01 | $363,780 (10.3%) | $526,524 (6.6%) | 0.96 | 16,354 |
| 2021-09-01 | $364,253 (7.2%) | $521,905 (2.2%) | 0.96 | 16,293 |
| 2021-10-01 | $360,000 (5.7%) | $519,609 (1.7%) | 0.95 | 15,727 |
| 2021-11-01 | $361,600 (6.4%) | $525,366 (2.9%) | 0.95 | 14,741 |
| 2021-12-01 | $359,995 (7.6%) | $521,480 (4.1%) | 0.96 | 13,465 |
| 2022-01-01 | $357,655 (8.4%) | $519,234 (4.0%) | 0.95 | 12,059 |
| 2022-02-01 | $362,494 (8.4%) | $530,947 (4.5%) | 0.92 | 11,026 |
| 2022-03-01 | $373,733 (9.5%) | $542,520 (4.0%) | 0.92 | 10,603 |
| 2022-04-01 | $389,900 (11.5%) | $559,761 (3.7%) | 0.92 | 10,865 |
Houston's median listing price comes in at 92% of the national average.
Houston's average listing price for 2022-04-01 was $559,761, a difference of $20,004 (3.7%) versus the prior year and $17,241 versus the prior month.
For the 2022-04-01 period, Houston had 10,865 MLS listings, a difference of 262 listings (2%) versus the prior month and -1,268 listings (-10%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Houston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 74 days | 2,529 sqft |
| 2018-02-01 | 65 days | 2,523 sqft |
| 2018-03-01 | 49 days | 2,557 sqft |
| 2018-04-01 | 45 days | 2,568 sqft |
| 2018-05-01 | 43 days | 2,582 sqft |
| 2018-06-01 | 45 days | 2,580 sqft |
| 2018-07-01 | 52 days | 2,560 sqft |
| 2018-08-01 | 54 days | 2,536 sqft |
| 2018-09-01 | 59 days | 2,511 sqft |
| 2018-10-01 | 64 days | 2,492 sqft |
| 2018-11-01 | 64 days | 2,481 sqft |
| 2018-12-01 | 69 days | 2,464 sqft |
| 2019-01-01 | 74 days | 2,447 sqft |
| 2019-02-01 | 66 days | 2,447 sqft |
| 2019-03-01 | 55 days | 2,468 sqft |
| 2019-04-01 | 51 days | 2,491 sqft |
| 2019-05-01 | 51 days | 2,503 sqft |
| 2019-06-01 | 52 days | 2,504 sqft |
| 2019-07-01 | 53 days | 2,489 sqft |
| 2019-08-01 | 57 days | 2,459 sqft |
| 2019-09-01 | 60 days | 2,434 sqft |
| 2019-10-01 | 63 days | 2,424 sqft |
| 2019-11-01 | 64 days | 2,403 sqft |
| 2019-12-01 | 69 days | 2,384 sqft |
| 2020-01-01 | 71 days | 2,366 sqft |
| 2020-02-01 | 58 days | 2,368 sqft |
| 2020-03-01 | 49 days | 2,386 sqft |
| 2020-04-01 | 55 days | 2,377 sqft |
| 2020-05-01 | 63 days | 2,400 sqft |
| 2020-06-01 | 57 days | 2,419 sqft |
| 2020-07-01 | 52 days | 2,420 sqft |
| 2020-08-01 | 50 days | 2,413 sqft |
| 2020-09-01 | 50 days | 2,402 sqft |
| 2020-10-01 | 50 days | 2,363 sqft |
| 2020-11-01 | 50 days | 2,328 sqft |
| 2020-12-01 | 55 days | 2,287 sqft |
| 2021-01-01 | 60 days | 2,248 sqft |
| 2021-02-01 | 52 days | 2,214 sqft |
| 2021-03-01 | 51 days | 2,222 sqft |
| 2021-04-01 | 43 days | 2,227 sqft |
| 2021-05-01 | 38 days | 2,242 sqft |
| 2021-06-01 | 37 days | 2,256 sqft |
| 2021-07-01 | 36 days | 2,255 sqft |
| 2021-08-01 | 37 days | 2,240 sqft |
| 2021-09-01 | 42 days | 2,227 sqft |
| 2021-10-01 | 45 days | 2,207 sqft |
| 2021-11-01 | 47 days | 2,186 sqft |
| 2021-12-01 | 52 days | 2,158 sqft |
| 2022-01-01 | 56 days | 2,128 sqft |
| 2022-02-01 | 43 days | 2,107 sqft |
| 2022-03-01 | 39 days | 2,124 sqft |
| 2022-04-01 | 36 days | 2,149 sqft |
Houston's median square footage for active listings during the 2022-04-01 period was 2,149 sqft. One year prior, the average listing was 2,227 sqft.
