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 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
-0.01%
for the week of 2022-11-25, compared to the national average (all FHA variants) of
0% for the same period.
Houston's average FHA mortgage closing costs are $7,995.
The average rate for the prior week (2022-11-18) was
6.41% and
one month ago for the week of 2022-10-21, the
average rate was 6.82%.
The average rate one year ago was 3.59%.
For refis of the same type during the week of 2022-11-25, the average rate
was -0.18%.
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
1,781 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 MORTGAGE ($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 | $318,500 (2.8%) | $435,101 (2.9%) | 1.18 | 22,151 |
| 2018-02-01 | $321,500 (3.2%) | $442,053 (3.6%) | 1.17 | 22,076 |
| 2018-03-01 | $325,000 (2.6%) | $449,747 (3.5%) | 1.14 | 22,888 |
| 2018-04-01 | $329,000 (2.8%) | $456,449 (3.9%) | 1.12 | 24,827 |
| 2018-05-01 | $329,950 (3.1%) | $458,819 (4.5%) | 1.10 | 26,244 |
| 2018-06-01 | $329,000 (2.8%) | $455,942 (4.8%) | 1.10 | 27,669 |
| 2018-07-01 | $322,450 (2.4%) | $447,522 (4.7%) | 1.08 | 29,012 |
| 2018-08-01 | $319,200 (4.0%) | $440,015 (4.7%) | 1.07 | 29,415 |
| 2018-09-01 | $315,000 (2.3%) | $437,999 (3.3%) | 1.06 | 28,945 |
| 2018-10-01 | $312,645 (0.5%) | $436,698 (1.6%) | 1.06 | 28,678 |
| 2018-11-01 | $310,000 (-1.6%) | $436,936 (0.7%) | 1.05 | 28,131 |
| 2018-12-01 | $308,500 (-2.1%) | $432,840 (0.2%) | 1.06 | 27,036 |
| 2019-01-01 | $307,556 (-3.4%) | $431,471 (-0.8%) | 1.06 | 25,958 |
| 2019-02-01 | $310,000 (-3.6%) | $437,520 (-1.0%) | 1.05 | 26,233 |
| 2019-03-01 | $317,211 (-2.4%) | $448,046 (-0.4%) | 1.04 | 26,958 |
| 2019-04-01 | $322,747 (-1.9%) | $456,547 (0.0%) | 1.02 | 27,877 |
| 2019-05-01 | $324,900 (-1.5%) | $457,834 (-0.2%) | 1.02 | 28,962 |
| 2019-06-01 | $322,843 (-1.9%) | $454,118 (-0.4%) | 1.01 | 30,320 |
| 2019-07-01 | $317,495 (-1.5%) | $446,771 (-0.2%) | 0.99 | 31,163 |
| 2019-08-01 | $313,609 (-1.8%) | $444,074 (0.9%) | 0.99 | 30,584 |
| 2019-09-01 | $311,523 (-1.1%) | $442,415 (1.0%) | 1.00 | 29,797 |
| 2019-10-01 | $309,450 (-1.0%) | $441,308 (1.1%) | 1.00 | 29,092 |
| 2019-11-01 | $304,500 (-1.8%) | $440,263 (0.8%) | 1.00 | 28,224 |
| 2019-12-01 | $299,992 (-2.8%) | $438,176 (1.2%) | 1.00 | 26,414 |
| 2020-01-01 | $299,900 (-2.5%) | $439,390 (1.8%) | 1.00 | 25,079 |
| 2020-02-01 | $302,990 (-2.3%) | $444,578 (1.6%) | 0.99 | 25,133 |
| 2020-03-01 | $311,450 (-1.8%) | $453,047 (1.1%) | 0.98 | 25,925 |
| 2020-04-01 | $310,495 (-3.8%) | $448,921 (-1.7%) | 0.97 | 26,467 |
| 2020-05-01 | $319,000 (-1.8%) | $459,970 (0.5%) | 0.97 | 25,807 |
| 2020-06-01 | $325,000 (0.7%) | $477,605 (5.2%) | 0.96 | 23,812 |
| 2020-07-01 | $326,495 (2.8%) | $484,498 (8.4%) | 0.95 | 22,739 |
| 2020-08-01 | $329,000 (4.9%) | $491,885 (10.8%) | 0.94 | 21,862 |
| 2020-09-01 | $330,975 (6.2%) | $495,362 (12.0%) | 0.95 | 20,417 |
| 2020-10-01 | $331,596 (7.2%) | $494,118 (12.0%) | 0.95 | 19,769 |
| 2020-11-01 | $332,195 (9.1%) | $494,012 (12.2%) | 0.97 | 19,011 |
| 2020-12-01 | $329,250 (9.8%) | $491,901 (12.3%) | 0.98 | 17,619 |
| 2021-01-01 | $329,900 (10.0%) | $497,505 (13.2%) | 0.98 | 15,997 |
| 2021-02-01 | $332,500 (9.7%) | $507,358 (14.1%) | 0.97 | 14,130 |
| 2021-03-01 | $340,183 (9.2%) | $520,802 (15.0%) | 0.97 | 12,881 |
| 2021-04-01 | $349,450 (12.6%) | $538,189 (19.9%) | 0.95 | 12,202 |
| 2021-05-01 | $358,000 (12.2%) | $552,314 (20.1%) | 0.95 | 12,095 |
| 2021-06-01 | $365,000 (12.3%) | $554,074 (16.0%) | 0.96 | 13,449 |
| 2021-07-01 | $365,000 (11.8%) | $543,757 (12.2%) | 0.96 | 15,013 |
| 2021-08-01 | $361,658 (9.9%) | $526,011 (6.9%) | 0.96 | 16,359 |
| 2021-09-01 | $361,291 (9.2%) | $520,671 (5.1%) | 0.96 | 16,257 |
| 2021-10-01 | $359,900 (8.5%) | $518,150 (4.9%) | 0.96 | 15,671 |
| 2021-11-01 | $359,950 (8.4%) | $524,342 (6.1%) | 0.96 | 14,713 |
| 2021-12-01 | $359,945 (9.3%) | $521,699 (6.1%) | 0.98 | 13,454 |
| 2022-01-01 | $356,863 (8.2%) | $518,804 (4.3%) | 0.96 | 12,042 |
| 2022-02-01 | $361,400 (8.7%) | $530,114 (4.5%) | 0.94 | 11,074 |
| 2022-03-01 | $372,500 (9.5%) | $542,618 (4.2%) | 0.93 | 10,703 |
| 2022-04-01 | $389,659 (11.5%) | $557,886 (3.7%) | 0.93 | 11,034 |
| 2022-05-01 | $397,950 (11.2%) | $570,832 (3.4%) | 0.91 | 12,671 |
| 2022-06-01 | $398,750 (9.3%) | $560,891 (1.2%) | 0.89 | 14,921 |
| 2022-07-01 | $389,990 (6.9%) | $538,567 (-1.0%) | 0.88 | 18,446 |
| 2022-08-01 | $382,495 (5.8%) | $523,787 (-0.4%) | 0.88 | 20,156 |
| 2022-09-01 | $375,495 (3.9%) | $513,728 (-1.3%) | 0.88 | 20,469 |
| 2022-10-01 | $369,000 (2.5%) | $507,988 (-2.0%) | 0.87 | 20,844 |
Houston's median listing price comes in at 87% of the national average.
Houston's average listing price for 2022-10-01 was $507,988, a difference of $-10,162 (-2.0%) versus the prior year and $-5,740 versus the prior month.
For the 2022-10-01 period, Houston had 20,844 MLS listings, a difference of 375 listings (2%) versus the prior month and 5,173 listings (33%) 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 | 2,531 sqft |
| 2018-02-01 | 65 days | 2,531 sqft |
| 2018-03-01 | 49 days | 2,558 sqft |
| 2018-04-01 | 44 days | 2,569 sqft |
| 2018-05-01 | 43 days | 2,582 sqft |
| 2018-06-01 | 45 days | 2,584 sqft |
| 2018-07-01 | 51 days | 2,561 sqft |
| 2018-08-01 | 54 days | 2,539 sqft |
| 2018-09-01 | 59 days | 2,513 sqft |
| 2018-10-01 | 64 days | 2,496 sqft |
| 2018-11-01 | 64 days | 2,485 sqft |
| 2018-12-01 | 69 days | 2,469 sqft |
| 2019-01-01 | 74 days | 2,449 sqft |
| 2019-02-01 | 65 days | 2,450 sqft |
| 2019-03-01 | 55 days | 2,471 sqft |
| 2019-04-01 | 51 days | 2,497 sqft |
| 2019-05-01 | 51 days | 2,507 sqft |
| 2019-06-01 | 53 days | 2,512 sqft |
| 2019-07-01 | 53 days | 2,495 sqft |
| 2019-08-01 | 56 days | 2,471 sqft |
| 2019-09-01 | 59 days | 2,450 sqft |
| 2019-10-01 | 62 days | 2,432 sqft |
| 2019-11-01 | 64 days | 2,410 sqft |
| 2019-12-01 | 70 days | 2,389 sqft |
| 2020-01-01 | 76 days | 2,376 sqft |
| 2020-02-01 | 64 days | 2,380 sqft |
| 2020-03-01 | 54 days | 2,392 sqft |
| 2020-04-01 | 59 days | 2,384 sqft |
| 2020-05-01 | 65 days | 2,408 sqft |
| 2020-06-01 | 61 days | 2,423 sqft |
| 2020-07-01 | 53 days | 2,423 sqft |
| 2020-08-01 | 52 days | 2,408 sqft |
| 2020-09-01 | 60 days | 2,388 sqft |
| 2020-10-01 | 60 days | 2,347 sqft |
| 2020-11-01 | 60 days | 2,320 sqft |
| 2020-12-01 | 61 days | 2,282 sqft |
| 2021-01-01 | 60 days | 2,251 sqft |
| 2021-02-01 | 53 days | 2,218 sqft |
| 2021-03-01 | 58 days | 2,222 sqft |
| 2021-04-01 | 49 days | 2,230 sqft |
| 2021-05-01 | 46 days | 2,241 sqft |
| 2021-06-01 | 42 days | 2,254 sqft |
| 2021-07-01 | 41 days | 2,258 sqft |
| 2021-08-01 | 42 days | 2,241 sqft |
| 2021-09-01 | 47 days | 2,227 sqft |
| 2021-10-01 | 53 days | 2,210 sqft |
| 2021-11-01 | 56 days | 2,191 sqft |
| 2021-12-01 | 54 days | 2,161 sqft |
| 2022-01-01 | 63 days | 2,128 sqft |
| 2022-02-01 | 41 days | 2,109 sqft |
| 2022-03-01 | 38 days | 2,128 sqft |
| 2022-04-01 | 36 days | 2,148 sqft |
| 2022-05-01 | 33 days | 2,179 sqft |
| 2022-06-01 | 32 days | 2,200 sqft |
| 2022-07-01 | 34 days | 2,198 sqft |
| 2022-08-01 | 38 days | 2,182 sqft |
| 2022-09-01 | 46 days | 2,158 sqft |
| 2022-10-01 | 49 days | 2,142 sqft |
Houston's median square footage for active listings during the 2022-10-01 period was 2,142 sqft. One year prior, the average listing was 2,210 sqft.
