Houston FHA Loan Rates, Closing Costs & Stats
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 303 lenders originated 21,842 FHA loans during 2023. The total origination value was $6,320,030,000, with an average FHA loan value of $289,352.
Houston FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Houston
averaged
6.81%
for the week of 2024-04-19, compared to the national average (all FHA variants) of
6.855% for the same period.
Houston's average FHA mortgage closing costs are $9,089.
The average rate for the prior week (2024-04-12) was
6.4% and
one month ago for the week of 2024-03-15, the
average rate was 6.57%.
The average rate one year ago was 6.19%.
For refis of the same type during the week of 2024-04-19, the average rate
was 7.09%.
Houston 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 Houston level.
The top Houston FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with
1,918 FHA loans originated. Their average total fees are
$9,724, which is $142
lower than the next largest lender,
EAGLE HOME MORTGAGE, LLC.
The lowest fee Houston FHA lenders (with over 10 loans originated) are
CHERRY CREEK MORTGAGE, LLC ($4,301), PULTE MORTGAGE LLC ($6,784), JPMorgan Chase Bank ($7,102), Wells Fargo Bank ($7,988) and VAN DYK MORTGAGE CORPORATION ($8,077).
The lowest rate Houston FHA lenders (with over 10 loans originated) are
EAGLE HOME MORTGAGE, LLC (4.63%), South Pacific Financial Corporation (5.34%), DHI MORTGAGE COMPANY, LTD. (5.40%), PULTE MORTGAGE LLC (5.42%) and INSPIRE HOME LOANS INC. (5.45%).
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 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | AUSTIN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | BRAZORIA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | CHAMBERS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | FORT BEND | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | GALVESTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | HARRIS | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | LIBERTY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | MONTGOMERY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
| HOUSTON-THE WOODLANDS-SUGAR LAND, TX | WALLER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
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 | $318,495 (2.8%) | $434,988 (2.9%) | 1.18 | 22,158 |
| 2018-02-01 | $321,450 (3.2%) | $441,899 (3.6%) | 1.17 | 22,088 |
| 2018-03-01 | $325,000 (2.7%) | $449,611 (3.5%) | 1.14 | 22,895 |
| 2018-04-01 | $328,999 (2.8%) | $456,334 (3.9%) | 1.12 | 24,834 |
| 2018-05-01 | $329,939 (3.1%) | $458,684 (4.5%) | 1.10 | 26,251 |
| 2018-06-01 | $329,000 (2.8%) | $455,818 (4.8%) | 1.10 | 27,677 |
| 2018-07-01 | $322,450 (2.4%) | $447,415 (4.6%) | 1.08 | 29,017 |
| 2018-08-01 | $319,083 (3.9%) | $439,888 (4.7%) | 1.07 | 29,425 |
| 2018-09-01 | $315,000 (2.3%) | $437,886 (3.3%) | 1.06 | 28,955 |
| 2018-10-01 | $312,500 (0.5%) | $436,561 (1.5%) | 1.06 | 28,692 |
| 2018-11-01 | $310,000 (-1.6%) | $436,824 (0.6%) | 1.05 | 28,143 |
| 2018-12-01 | $308,157 (-2.2%) | $432,749 (0.2%) | 1.06 | 27,043 |
| 2019-01-01 | $307,500 (-3.5%) | $431,378 (-0.8%) | 1.06 | 25,967 |
| 2019-02-01 | $310,000 (-3.6%) | $437,446 (-1.0%) | 1.05 | 26,238 |
| 2019-03-01 | $317,090 (-2.4%) | $447,991 (-0.4%) | 1.04 | 26,956 |
| 2019-04-01 | $322,722 (-1.9%) | $456,544 (0.1%) | 1.02 | 27,862 |
| 2019-05-01 | $324,900 (-1.5%) | $457,864 (-0.2%) | 1.02 | 28,941 |
| 2019-06-01 | $322,787 (-1.9%) | $454,154 (-0.4%) | 1.01 | 30,303 |
| 2019-07-01 | $317,495 (-1.5%) | $446,753 (-0.2%) | 0.99 | 31,152 |
| 2019-08-01 | $313,609 (-1.7%) | $444,089 (1.0%) | 0.99 | 30,569 |
| 2019-09-01 | $311,523 (-1.1%) | $442,461 (1.0%) | 1.00 | 29,778 |
| 2019-10-01 | $309,450 (-1.0%) | $441,376 (1.1%) | 1.00 | 29,069 |
| 2019-11-01 | $304,500 (-1.8%) | $440,352 (0.8%) | 1.00 | 28,200 |
| 2019-12-01 | $299,993 (-2.7%) | $438,261 (1.3%) | 1.00 | 26,390 |
| 2020-01-01 | $299,900 (-2.5%) | $439,509 (1.9%) | 1.00 | 25,051 |
| 2020-02-01 | $302,990 (-2.3%) | $444,683 (1.7%) | 0.99 | 25,107 |
| 2020-03-01 | $311,450 (-1.8%) | $453,156 (1.2%) | 0.98 | 25,899 |
| 2020-04-01 | $310,495 (-3.8%) | $448,967 (-1.7%) | 0.97 | 26,439 |
| 2020-05-01 | $319,000 (-1.8%) | $460,046 (0.5%) | 0.97 | 25,776 |
| 2020-06-01 | $325,000 (0.7%) | $477,682 (5.2%) | 0.96 | 23,777 |
| 2020-07-01 | $326,500 (2.8%) | $484,639 (8.5%) | 0.95 | 22,707 |
| 2020-08-01 | $329,000 (4.9%) | $492,013 (10.8%) | 0.94 | 21,833 |
| 2020-09-01 | $331,275 (6.3%) | $495,529 (12.0%) | 0.95 | 20,386 |
| 2020-10-01 | $332,500 (7.5%) | $494,415 (12.0%) | 0.95 | 19,738 |
| 2020-11-01 | $332,500 (9.2%) | $494,204 (12.2%) | 0.97 | 18,984 |
| 2020-12-01 | $329,250 (9.8%) | $492,079 (12.3%) | 0.98 | 17,592 |
| 2021-01-01 | $329,990 (10.0%) | $497,411 (13.2%) | 0.99 | 15,966 |
| 2021-02-01 | $332,500 (9.7%) | $507,011 (14.0%) | 0.97 | 14,100 |
| 2021-03-01 | $340,800 (9.4%) | $521,078 (15.0%) | 0.97 | 12,851 |
| 2021-04-01 | $349,450 (12.6%) | $538,424 (19.9%) | 0.95 | 12,168 |
| 2021-05-01 | $359,000 (12.5%) | $552,716 (20.1%) | 0.95 | 12,062 |
| 2021-06-01 | $364,950 (12.3%) | $554,119 (16.0%) | 0.96 | 13,417 |
| 2021-07-01 | $365,000 (11.8%) | $543,548 (12.2%) | 0.96 | 14,996 |
| 2021-08-01 | $361,713 (9.9%) | $526,069 (6.9%) | 0.96 | 16,347 |
| 2021-09-01 | $361,250 (9.1%) | $520,459 (5.0%) | 0.96 | 16,238 |
| 2021-10-01 | $359,900 (8.2%) | $517,888 (4.8%) | 0.96 | 15,649 |
| 2021-11-01 | $359,950 (8.3%) | $524,446 (6.1%) | 0.96 | 14,689 |
| 2021-12-01 | $359,945 (9.3%) | $521,750 (6.0%) | 0.98 | 13,433 |
| 2022-01-01 | $357,365 (8.3%) | $518,833 (4.3%) | 0.97 | 12,080 |
| 2022-02-01 | $361,752 (8.8%) | $530,290 (4.6%) | 0.94 | 11,041 |
| 2022-03-01 | $373,081 (9.5%) | $542,575 (4.1%) | 0.93 | 10,671 |
| 2022-04-01 | $389,900 (11.6%) | $558,209 (3.7%) | 0.93 | 10,998 |
| 2022-05-01 | $398,500 (11.0%) | $571,080 (3.3%) | 0.91 | 12,639 |
| 2022-06-01 | $399,000 (9.3%) | $560,844 (1.2%) | 0.89 | 14,892 |
| 2022-07-01 | $390,000 (6.9%) | $538,649 (-0.9%) | 0.88 | 18,422 |
| 2022-08-01 | $382,495 (5.8%) | $523,616 (-0.5%) | 0.88 | 20,138 |
| 2022-09-01 | $375,500 (3.9%) | $513,693 (-1.3%) | 0.88 | 20,452 |
| 2022-10-01 | $368,990 (2.5%) | $508,029 (-1.9%) | 0.87 | 20,825 |
| 2022-11-01 | $363,384 (1.0%) | $505,723 (-3.6%) | 0.87 | 21,205 |
| 2022-12-01 | $359,900 (0.0%) | $499,347 (-4.3%) | 0.89 | 20,060 |
| 2023-01-01 | $354,950 (-0.7%) | $495,111 (-4.6%) | 0.88 | 18,594 |
| 2023-02-01 | $358,495 (-0.9%) | $501,164 (-5.5%) | 0.87 | 17,779 |
| 2023-03-01 | $360,000 (-3.5%) | $507,069 (-6.5%) | 0.85 | 17,425 |
| 2023-04-01 | $371,000 (-4.9%) | $524,401 (-6.1%) | 0.86 | 17,156 |
| 2023-05-01 | $375,000 (-5.9%) | $527,499 (-7.6%) | 0.85 | 17,357 |
| 2023-06-01 | $378,030 (-5.3%) | $529,487 (-5.6%) | 0.85 | 18,457 |
| 2023-07-01 | $375,940 (-3.6%) | $527,958 (-2.0%) | 0.85 | 19,690 |
| 2023-08-01 | $374,950 (-2.0%) | $524,993 (0.3%) | 0.86 | 20,123 |
| 2023-09-01 | $369,990 (-1.5%) | $518,097 (0.9%) | 0.86 | 20,826 |
| 2023-10-01 | $369,123 (0.0%) | $513,033 (1.0%) | 0.87 | 21,775 |
| 2023-11-01 | $365,000 (0.4%) | $509,817 (0.8%) | 0.87 | 22,115 |
| 2023-12-01 | $359,990 (0.0%) | $504,376 (1.0%) | 0.88 | 21,377 |
| 2024-01-01 | $359,000 (1.1%) | $501,778 (1.4%) | 0.88 | 20,401 |
| 2024-02-01 | $359,990 (0.4%) | $506,800 (1.1%) | 0.87 | 20,655 |
| 2024-03-01 | $362,675 (0.7%) | $508,547 (0.3%) | 0.85 | 21,518 |
Houston's median listing price comes in at 85% of the national average.
Houston's average listing price for 2024-03-01 was $508,547, a difference of $1,478 (0.3%) versus the prior year and $1,747 versus the prior month.
For the 2024-03-01 period, Houston had 21,518 MLS listings, a difference of 863 listings (4%) versus the prior month and 4,093 listings (23%) 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 | 73 days | 2,531 sqft |
| 2018-02-01 | 62 days | 2,531 sqft |
| 2018-03-01 | 47 days | 2,558 sqft |
| 2018-04-01 | 44 days | 2,568 sqft |
| 2018-05-01 | 42 days | 2,582 sqft |
| 2018-06-01 | 44 days | 2,584 sqft |
| 2018-07-01 | 51 days | 2,560 sqft |
| 2018-08-01 | 52 days | 2,539 sqft |
| 2018-09-01 | 58 days | 2,513 sqft |
| 2018-10-01 | 61 days | 2,496 sqft |
| 2018-11-01 | 62 days | 2,484 sqft |
| 2018-12-01 | 67 days | 2,469 sqft |
| 2019-01-01 | 73 days | 2,449 sqft |
| 2019-02-01 | 63 days | 2,450 sqft |
| 2019-03-01 | 53 days | 2,471 sqft |
| 2019-04-01 | 50 days | 2,497 sqft |
| 2019-05-01 | 50 days | 2,507 sqft |
| 2019-06-01 | 51 days | 2,512 sqft |
| 2019-07-01 | 51 days | 2,494 sqft |
| 2019-08-01 | 54 days | 2,470 sqft |
| 2019-09-01 | 58 days | 2,449 sqft |
| 2019-10-01 | 61 days | 2,432 sqft |
| 2019-11-01 | 63 days | 2,410 sqft |
| 2019-12-01 | 69 days | 2,389 sqft |
| 2020-01-01 | 73 days | 2,376 sqft |
| 2020-02-01 | 61 days | 2,379 sqft |
| 2020-03-01 | 52 days | 2,392 sqft |
| 2020-04-01 | 58 days | 2,384 sqft |
| 2020-05-01 | 64 days | 2,408 sqft |
| 2020-06-01 | 59 days | 2,423 sqft |
| 2020-07-01 | 51 days | 2,424 sqft |
| 2020-08-01 | 51 days | 2,408 sqft |
| 2020-09-01 | 58 days | 2,388 sqft |
| 2020-10-01 | 58 days | 2,348 sqft |
| 2020-11-01 | 58 days | 2,320 sqft |
| 2020-12-01 | 59 days | 2,283 sqft |
| 2021-01-01 | 59 days | 2,252 sqft |
| 2021-02-01 | 51 days | 2,218 sqft |
| 2021-03-01 | 54 days | 2,222 sqft |
| 2021-04-01 | 45 days | 2,229 sqft |
| 2021-05-01 | 43 days | 2,241 sqft |
| 2021-06-01 | 40 days | 2,254 sqft |
| 2021-07-01 | 39 days | 2,258 sqft |
| 2021-08-01 | 40 days | 2,241 sqft |
| 2021-09-01 | 46 days | 2,225 sqft |
| 2021-10-01 | 52 days | 2,209 sqft |
| 2021-11-01 | 54 days | 2,189 sqft |
| 2021-12-01 | 53 days | 2,160 sqft |
| 2022-01-01 | 61 days | 2,128 sqft |
| 2022-02-01 | 40 days | 2,107 sqft |
| 2022-03-01 | 38 days | 2,128 sqft |
| 2022-04-01 | 35 days | 2,148 sqft |
| 2022-05-01 | 33 days | 2,178 sqft |
| 2022-06-01 | 31 days | 2,198 sqft |
| 2022-07-01 | 33 days | 2,200 sqft |
| 2022-08-01 | 38 days | 2,180 sqft |
| 2022-09-01 | 46 days | 2,156 sqft |
| 2022-10-01 | 48 days | 2,140 sqft |
| 2022-11-01 | 51 days | 2,130 sqft |
| 2022-12-01 | 59 days | 2,113 sqft |
| 2023-01-01 | 63 days | 2,086 sqft |
| 2023-02-01 | 54 days | 2,079 sqft |
| 2023-03-01 | 47 days | 2,081 sqft |
| 2023-04-01 | 43 days | 2,091 sqft |
| 2023-05-01 | 41 days | 2,097 sqft |
| 2023-06-01 | 40 days | 2,111 sqft |
| 2023-07-01 | 40 days | 2,128 sqft |
| 2023-08-01 | 42 days | 2,126 sqft |
| 2023-09-01 | 44 days | 2,108 sqft |
| 2023-10-01 | 46 days | 2,108 sqft |
| 2023-11-01 | 50 days | 2,099 sqft |
| 2023-12-01 | 56 days | 2,082 sqft |
| 2024-01-01 | 59 days | 2,049 sqft |
| 2024-02-01 | 48 days | 2,040 sqft |
| 2024-03-01 | 43 days | 2,043 sqft |
Houston's median square footage for active listings during the 2024-03-01 period was 2,043 sqft. One year prior, the average listing was 2,081 sqft.