Houston FHA Loan Rates, Closing Costs & Stats

HOUSTON-THE WOODLANDS-SUGAR LAND, TX

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    • 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 292 lenders originated 24,236 FHA loans during 2024. The total origination value was $7,267,990,000, with an average FHA loan value of $299,884.

    Houston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Houston averaged 0.1% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Houston's average FHA mortgage closing costs are $9,521.

    The average rate for the prior week (2025-06-13) was 6.69% and one month ago for the week of 2025-05-16, the average rate was 6.45%.

    The average rate one year ago was 6.5%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.17%.

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

    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.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    DHI MORTGAGE COMPANY, LTD. 2,358 4.94% $9,119
    UNITED WHOLESALE MORTGAGE, LLC 1,795 6.20% $14,072
    EAGLE HOME MORTGAGE, LLC 1,773 4.60% $9,542
    LOANDEPOT.COM, LLC 796 6.00% $12,946
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 779 5.64% $8,524
    QUICKEN LOANS, LLC 660 6.21% $13,495
    CMG MORTGAGE, INC. 582 6.57% $15,227
    NATIONS RELIABLE LENDING, LLC 500 6.65% $13,787
    PULTE MORTGAGE LLC 483 4.94% $7,137
    FREEDOM MORTGAGE CORPORATION 448 6.07% $14,149
    INTERLINC MORTGAGE SERVICES, LLC 428 5.88% $9,190
    KBHS HOME LOANS, LLC 391 6.04% $9,896
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 383 6.58% $11,757
    GUILD MORTGAGE COMPANY 367 6.39% $14,280
    INSPIRE HOME LOANS INC. 338 5.03% $9,932
    EVERETT FINANCIAL, INC. 329 6.91% $13,225
    CROSSCOUNTRY MORTGAGE, LLC 287 6.51% $14,373
    VELOCIO MORTGAGE L.L.C. 285 5.27% $12,377
    K. HOVNANIAN AMERICAN MORTGAGE, L.L.C. 275 5.50% $13,224
    M/I FINANCIAL, LLC 272 5.16% $16,737
    BROKER SOLUTIONS, INC. 269 6.70% $13,551
    CLM MORTGAGE, INC 259 5.77% $14,200
    Equity Prime Mortgage LLC 243 6.77% $13,906
    PRIMELENDING, A PLAINSCAPITAL COMPANY 233 6.47% $16,204
    CORNERSTONE HOME LENDING, INC. 231 5.96% $15,439
    Flagstar Bank, FSB 222 6.32% $11,927
    Century Mortgage Company DBA Century Lending Company 219 6.20% $13,681
    ADVISA MORTGAGE SERVICES, LTD. 217 6.02% $9,183
    PLAZA HOME MORTGAGE, INC. 209 6.39% $13,439
    Network Funding, L.P. 203 6.24% $13,401
    Paramount Residential Mortgage Group, Inc. 202 6.44% $13,523
    CARDINAL FINANCIAL 197 6.36% $12,714
    V.I.P. MORTGAGE, INC. 193 5.95% $15,752
    South Pacific Financial Corporation 192 5.16% $10,669
    T2 FINANCIAL LLC 188 6.60% $12,525
    SFMC, LP 180 5.99% $13,741
    PENNYMAC LOAN SERVICES, LLC 166 6.01% $12,620
    TOWNE MORTGAGE COMPANY 157 5.92% $12,787
    NEWREZ LLC 150 6.33% $11,361
    MID AMERICA MORTGAGE, INC. 144 6.60% $19,702
    MOVEMENT MORTGAGE, LLC 141 6.52% $13,951
    The Loan Store, Inc. 141 6.18% $14,150
    Gateway First Bank 139 6.58% $13,101
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 113 6.77% $13,076
    SECURITYNATIONAL MORTGAGE COMPANY 112 6.80% $13,170
    Plains Commerce Bank 97 6.40% $13,867
    S1L, Inc. 91 6.52% $14,335
    LEGEND LENDING CORPORATION 89 6.62% $15,698
    MORTGAGE FINANCIAL SERVICES, LLC 83 6.88% $12,859
    MORTGAGE SOLUTIONS OF COLORADO, LLC 82 6.31% $12,048
    VILLAGE CAPITAL MORTGAGE 81 6.51% $7,624
    FIRST CONTINENTAL MORTGAGE, LTD. 77 5.47% $7,398
    GUARANTEED RATE, INC. 77 6.21% $13,936
    SUN WEST MORTGAGE COMPANY, INC. 73 6.44% $14,253
    UNION HOME MORTGAGE CORP. 72 6.47% $13,157
    JET HOMELOANS, LLC 69 5.62% $13,756
    CRESTMARK MORTGAGE COMPANY, LTD. 68 6.07% $13,902
    ZILLOW HOME LOANS, LLC 62 6.30% $12,177
    JPMorgan Chase Bank 60 6.25% $6,964
    Nations Lending Corporation 59 6.61% $8,952
    PLANET HOME LENDING, LLC 57 6.00% $9,322
    AMERICAN FINANCIAL NETWORK, INC. 56 6.85% $14,380
    BancorpSouth 55 6.16% $11,316
    OCMBC, INC. 51 6.89% $12,375
    SWBC MORTGAGE CORPORATION 51 6.57% $10,147
    AmeriHome Mortgage Company, LLC 50 6.41% $8,794
    HOMESIDE FINANCIAL, LLC 50 6.67% $13,221
    Encompass Lending Group, LP 49 6.56% $12,958
    Integrity Home Mortgage Corp 48 6.72% $12,483
    SUCCESS MORTGAGE PARTNERS, INC. 48 6.62% $13,541
    DAS Acquisition Company, LLC 47 6.55% $13,533
    Lakeview Community Capital, LLC 46 6.36% $8,503
    GEO-CORP, INC. 43 7.38% $17,867
    EUSTIS AND AMERICAN MORTGAGE COMPANY 43 6.37% $11,775
    LAKEVIEW LOAN SERVICING, LLC 43 6.33% $8,761
    ENVOY MORTGAGE, LTD 41 6.79% $13,735
    Mr. Cooper ( Nationstar Mortgage ) 39 6.64% $9,879
    CITY FIRST MORTGAGE SERVICES, L.L.C. 39 6.83% $13,435
    HOMETRUST MORTGAGE COMPANY 38 6.56% $12,139
    LAND HOME FINANCIAL SERVICES, INC. 36 7.01% $18,943
    BAY EQUITY LLC 32 6.43% $11,450
    FBC MORTGAGE, LLC 31 5.26% $12,116
    American Mortgage & Equity Consultants, Inc. 30 6.53% $13,627
    SOUTHWEST FUNDING, LP 30 6.85% $15,385
    GUARANTEED RATE AFFINITY, LLC 29 6.33% $13,245
    DIRECT MORTGAGE LOANS, LLC 28 6.54% $12,455
    Loan Simple, Inc. 28 6.54% $13,068
    AFFORDABLE MORTGAGE ADVISORS, LLC. 28 7.00% $11,590
    Sierra Pacific Mortgage Company, Inc. 27 6.26% $15,053
    AHL FUNDING 27 6.38% $14,594
    NFM, INC. 27 6.88% $13,907
    Independent Bank 26 6.70% $11,921
    GENEVA FINANCIAL, LLC 25 6.89% $13,114
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 25 6.77% $11,039
    GARDNER FINANCIAL SERVICES, LTD. 23 6.91% $13,676
    BETTER MORTGAGE CORPORATION 22 5.81% $13,713
    Carrington Mortgage Services, LLC 22 6.31% $15,032
    LOANPEOPLE, LLC 21 6.76% $13,150
    Mortgage Research Center, LLC 21 6.62% $8,352
    CANOPY MORTGAGE, LLC 21 6.46% $18,344
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.48% $15,375
    Shea Mortgage Inc. 20 5.91% $8,263
    Trustmark National Bank 20 6.24% $9,917
    TEXAS DOW EMPLOYEES CREDIT UNION 19 6.15% $11,917
    SENTE MORTGAGE, INC. 19 6.75% $14,321
    U.S. Bank 19 6.16% $11,587
    Bank of America 19 5.92% $10,597
    AMERICAN FINANCIAL RESOURCES, INC. 18 6.30% $13,610
    CALCON MUTUAL MORTGAGE LLC 18 6.75% $15,997
    BECKAM FUNDING CORP. 16 7.06% $19,738
    DSLD MORTGAGE, LLC 16 4.72% $6,836
    MUTUAL OF OMAHA MORTGAGE, INC. 16 6.46% $12,581
    TBI MORTGAGE COMPANY 16 6.08% $17,837
    HOMEBRIDGE FINANCIAL SERVICES, INC. 16 5.89% $13,161
    Commerce Home Mortgage, Inc. 15 6.38% $15,825
    ML Mortgage Corp. 14 7.08% $14,731
    INTELLILOAN, INC. 14 6.27% $6,398
    PRIMARY RESIDENTIAL MORTGAGE, INC. 14 6.70% $9,237
    Goldwater Bank, N.A. 14 6.27% $12,128
    SUMMIT FUNDING, INC. 12 6.70% $14,186
    OPEN MORTGAGE, LLC 12 6.62% $13,863
    First United Bank and Trust Company 12 6.41% $14,504
    NBKC BANK 12 6.05% $10,825
    UNIVERSITY Federal Credit Union 11 5.87% $11,664
    DIRECTIONS EQUITY, LLC 11 6.49% $10,222
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 11 6.27% $19,227
    Prosperity Bank 10 6.51% $8,686
    BOKF 10 6.46% $13,752
    Sunflower Bank 10 6.51% $11,175
    Republic State Mortgage Co. 9 6.50% $13,111
    NEW FED MORTGAGE, CORP. 9 6.82% $12,401
    MICHIGAN MUTUAL, INC. 9 6.79% $14,392
    Florida Capital Bank 8 5.83% $11,643
    NATIONS DIRECT MORTGAGE, LLC 8 6.25% $17,209
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 8 6.66% $15,329
    Regions Bank 8 5.91% $16,820
    LEADERONE FINANCIAL CORPORATION 8 6.73% $16,899
    Bank of England 8 6.34% $14,076
    CHURCHILL MORTGAGE CORPORATION 8 6.58% $13,700
    PILGRIM MORTGAGE LLC 8 6.42% $12,028
    WILLOW BEND MORTGAGE COMPANY, LLC 8 6.42% $10,317
    NATIONWIDE MORTGAGE BANKERS, INC. 7 6.64% $14,468
    City Lending Inc. 7 6.95% $15,250
    First Financial Bank 7 6.13% $11,240
    HALLMARK HOME MORTGAGE, LLC 7 6.73% $12,799
    Wolfe Financial, Inc 7 6.71% $18,313
    PENTAGON FEDERAL CREDIT UNION 7 5.96% $14,238
    PANORAMA MORTGAGE GROUP, LLC 7 6.46% $16,201
    AMERITRUST MORTGAGE CORPORATION 7 6.64% $16,251
    Cornerstone First Mortgage, Inc 6 6.60% $13,459
    Ixonia Bank 6 6.83% $13,348
    JMAC LENDING, INC. 6 5.69% $13,809
    ASSOCIATED CREDIT UNION OF TEXAS 6 6.44% $16,095
    American Mortgage Bank, LLC 6 6.50% $10,602
    PNC Bank 6 6.46% $11,345
    PREMIER MORTGAGE RESOURCES, L.L.C. 6 6.85% $15,153
    FIRST COMMUNITY MORTGAGE, INC. 6 6.41% $10,684
    Strong Home Mortgage, LLC 6 5.92% $12,455
    DIRECT MORTGAGE, CORP. 6 6.31% $22,346
    AMERICAN FINANCING CORPORATION 5 5.75% $16,225
    A&D Mortgage LLC 5 6.55% $16,446
    MEMBER FIRST MORTGAGE, LLC 5 6.05% $10,086
    GMFS LLC 5 6.15% $7,070
    First Option Mortgage, LLC 5 6.90% $15,096
    HOMEWAY MORTGAGE LLC 5 6.57% $12,189
    First Horizon Bank 5 6.18% $15,930
    UNITED MORTGAGE CORP 5 6.60% $15,409
    AMERISAVE MORTGAGE CORPORATION 5 6.35% $18,837
    Hancock Whitney Bank 5 6.13% $9,586
    Home Mortgage Alliance Corp 4 6.84% $15,166
    NOVA FINANCIAL & INVESTMENT CORPORATION 4 6.78% $14,077
    NORWICH COMMERCIAL GROUP, INC. 4 6.09% $16,082
    AMPLIFY 4 5.78% $13,826
    First National Bank Texas 4 6.03% $11,803
    VAN DYK MORTGAGE CORPORATION 4 6.59% $8,554
    Centennial Bank 4 6.72% $12,073
    Wells Fargo Bank 4 5.38% $10,111
    PREMIA MORTGAGE, LLC 3 5.46% $9,842
    American National Bank & Trust 3 5.71% $14,898
    AXIA FINANCIAL, LLC 3 6.42% $16,916
    Barrington Bank & Trust Company, N.A. 3 6.71% $13,039
    BAYSHORE MORTGAGE FUNDING, LLC 3 7.21% $12,400
    EMM LOANS LLC 3 5.50% $11,721
    FIRST COLONY MORTGAGE CORPORATION 3 5.96% $16,064
    First Federal Bank 3 5.79% $12,857
    Flanagan State Bank 3 6.00% $19,442
    LOANPAL, LLC 3 6.12% $11,053
    Magnolia Bank 3 6.17% $15,802
    MY MORTGAGE, INC. 3 6.63% $20,192
    OCEANSIDE MORTGAGE COMPANY 3 5.96% $8,888
    Performance Financial, Inc. 3 7.29% $14,046
    Prosperity Home Mortgage, LLC 3 7.29% $11,339
    RESIDENTIAL BANCORP 3 7.00% $15,706
    Simmons Bank 3 6.29% $9,980
    Victorian Finance, LLC 3 6.96% $12,585
    TJC Mortgage, Inc. 2 6.00% $17,609
    ABSOLUTE HOME MORTGAGE CORPORATION 2 6.63% $19,199
    PHH Mortgage Corporation 2 6.25% $7,243
    Commercial Bank of Texas 2 5.81% $13,175
    STANDARD MORTGAGE CORPORATION 2 6.31% $11,402
    TruHome Solutions, LLC 2 6.63% $13,976
    Presidential Bank, FSB 2 6.00% $14,648
    Residential Acceptance Corporation 2 6.63% $11,973
    HARTFORD FUNDING, LTD. 2 6.56% $9,520
    Assurance Financial Group, L.L.C. 2 6.25% $11,287
    Ameris Bank 2 6.13% $8,700
    Gulf Coast Bank and Trust Company 2 6.19% $11,727
    Keystone Funding, Inc. 2 6.69% $15,099
    City Bank 2 6.56% $14,547
    NexBank 2 6.25% $14,199
    Origin Bank 2 5.38% $10,574
    Zions Bank 2 5.81% $9,561
    ALLIANT CREDIT UNION 2 6.00% $9,957
    BM Real Estate Services, Inc. 2 6.50% $10,094
    COUNTRYPLACE MORTGAGE, LTD. 2 5.44% $17,669
    Watermark Capital, Inc. 2 6.75% $12,718
    Servion, Inc. 2 6.81% $6,547
    FirstBank 2 6.63% $9,779
    HOMESPIRE MORTGAGE CORPORATION 2 5.94% $13,614
    MORTGAGEONE, INC. 2 5.69% $10,547
    MORTGAGE ACCESS CORP. 2 6.75% $18,448
    INFINITY EQUITY GROUP, INC. 2 6.31% $16,429
    Midwest Mortgage Associates Corporation 2 6.31% $11,455
    THE MORTGAGE LINK, INC. 2 6.69% $30,800
    ROYAL UNITED MORTGAGE LLC 1 6.50% $13,434
    Extraco Banks 1 5.75% $10,830
    SeaTrust Mortgage Company 1 6.50% $12,613
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.99% $19,012
    CONTOUR MORTGAGE CORPORATION 1 6.75% $15,789
    Constant Investments, Inc. 1 6.88% $10,616
    COMMUNITY MORTGAGE FUNDING, LLC 1 6.25% $9,279
    Community Bank of Mississippi 1 6.75% $8,968
    Stride Bank 1 5.63% $12,351
    Commerce Bank 1 7.63% $7,039
    Comerica Bank 1 5.99% $10,617
    CityWorth Mortgage LLC 1 6.75% $15,735
    Summit Mortgage Corporation 1 6.25% $9,677
    Chickasaw Community Bank 1 6.13% $9,173
    Capital Bank 1 6.13% $6,783
    Bell Bank 1 6.25% $15,594
    Texana Bank 1 6.00% $21,892
    BELEM SERVICING LLC 1 6.75% $9,818
    The Federal Savings Bank 1 7.50% $10,457
    BAY-VALLEY MORTGAGE GROUP 1 5.88% $8,561
    Towne Bank 1 6.50% $14,037
    Bank of Utah 1 6.13% $10,234
    Town Square Mortgage & Investments, Inc. 1 7.63% $6,050
    Trinity Oaks Mortgage, LLC 1 7.63% $13,771
    Atlantic Coast Mortgage, LLC 1 6.25% $13,854
    UMB Bank 1 5.63% $13,400
    ATLANTIC BAY MORTGAGE GROUP, L.L.C. 1 6.75% $12,200
    UNIVERSAL LENDING CORPORATION 1 4.88% $14,626
    AMERICAN FEDERAL MORTGAGE CORPORATION 1 5.75% $10,485
    American Bank of Oklahoma 1 6.63% $8,465
    ALTITUDE FINANCIAL CORPORATION 1 6.75% $9,701
    ALLIED MORTGAGE GROUP, INC. 1 6.63% $14,510
    Alliance Credit Union 1 7.13% $4,441
    Wallick & Volk, Inc. 1 5.50% $26,339
    Waterstone Mortgage Corporation 1 6.63% $13,951
    ALAMEDA MORTGAGE CORPORATION 1 5.63% $15,334
    MYCUMORTGAGE, LLC 1 6.25% $7,341
    MLB RESIDENTIAL LENDING, LLC 1 6.00% $15,131
    LOANFLIGHT LENDING, LLC 1 7.13% $8,524
    MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 1 7.25% $15,345
    LENOX FINANCIAL MORTGAGE CORPORATION 1 6.63% $8,570
    Northpointe Bank 1 6.25% $11,563
    KeyBank 1 7.00% $12,713
    International Bank of Commerce 1 6.63% $15,377
    WESTSTAR MORTGAGE CORPORATION 1 4.88% $22,200
    INTERCOASTAL MORTGAGE COMPANY 1 5.99% $13,634
    ONY GLO, INC. 1 5.75% $11,895
    INTEGRITY MORTGAGE CORPORATION OF TEXAS 1 6.50% $7,765
    Hometown Equity Mortgage, LLC 1 7.25% $14,699
    PATRIOT MORTGAGE COMPANY 1 6.63% $11,159
    HOMESTEAD FUNDING CORP. 1 5.63% $9,384
    Willamette Valley Bank 1 6.00% $19,802
    Guaranty Bank & Trust, N.A. 1 6.13% $10,268
    GSF Mortgage Corporation 1 6.00% $10,532
    Golden Empire Mortgage, Inc. 1 7.13% $10,608
    1ST FINANCIAL, INC. 1 6.00% $10,504
    PREMIER LENDING, INC. 1 7.13% $12,401
    Franklin Loan Corporation 1 6.13% $24,368
    Preston Home Loans Inc 1 6.75% $20,589
    FLAT BRANCH MORTGAGE, INC. 1 6.13% $24,911
    FIRST MORTGAGE COMPANY, INC. 1 7.00% $9,007
    First Heritage Mortgage, LLC 1 5.63% $14,321
    Affiliated Bank 1 6.75% $13,765
    Financial Funding Solutions, Inc. 1 6.25% $6,045
    RANLIFE, INC. 1 6.38% $8,116
    Fifth Third Bank 1 6.50% $14,528
    FC LENDING, LTD. 1 6.25% $9,966
    Acre Mortgage and Financial Inc 1 7.13% $10,247

    The top Houston FHA lender as defined by loan originations is DHI MORTGAGE COMPANY, LTD., with 2,358 FHA loans originated. Their average total fees are $9,119, which is $4,953 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Houston FHA lenders (with over 10 loans originated) are INTELLILOAN, INC. ($6,398), DSLD MORTGAGE, LLC ($6,836), JPMorgan Chase Bank ($6,964), PULTE MORTGAGE LLC ($7,137) and FIRST CONTINENTAL MORTGAGE, LTD. ($7,398).

    The lowest rate Houston FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.60%), DSLD MORTGAGE, LLC (4.72%), PULTE MORTGAGE LLC (4.94%), DHI MORTGAGE COMPANY, LTD. (4.94%) and INSPIRE HOME LOANS INC. (5.03%).

    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

    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).