Jacksonville FHA Loan Rates, Closing Costs & Stats

Jacksonville, 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.

Jacksonville's 40 lenders originated 118 FHA loans during 2021. The total origination value was $20,510,000, with an average FHA loan value of $173,814.

Jacksonville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Jacksonville averaged 6.7% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Jacksonville's average FHA mortgage closing costs are $6,524.

The average rate for the prior week (2022-11-25) was 6.42% and one month ago for the week of 2022-10-28, the average rate was 7.16%.

The average rate one year ago was 3.39%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.35%.

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

Jacksonville 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 Jacksonville level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
GUILD MORTGAGE COMPANY 7 3.50% $8,566
FINANCE OF AMERICA MORTGAGE LLC 7 3.77% $7,328
Gateway First Bank 6 4.02% $5,917
LAKEVIEW LOAN SERVICING, LLC 6 3.23% $4,332
QUICKEN LOANS, LLC 5 2.85% $5,550
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 3.48% $7,770
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 5 3.05% $7,425
PENNYMAC LOAN SERVICES, LLC 4 3.38% $4,000
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 3.34% $6,980
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.59% $6,807
FREEDOM MORTGAGE CORPORATION 4 2.75% $5,690
Mr. Cooper ( Nationstar Mortgage ) 4 3.28% $2,255
MORTGAGE FINANCIAL SERVICES, LLC 3 3.21% $7,912
CALIBER HOME LOANS, INC. 3 3.67% $4,332
VILLAGE CAPITAL MORTGAGE 2 2.75% $1,347
CMG MORTGAGE, INC. 2 3.00% $10,005
Paramount Residential Mortgage Group, Inc. 2 3.31% $7,157
PLAZA HOME MORTGAGE, INC. 2 3.62% $6,113
Regions Bank 2 3.06% $8,708
SOUTHWEST STAGE FUNDING, LLC 2 3.56% $3,936
UNITED WHOLESALE MORTGAGE, LLC 2 2.81% $6,171
ACADEMY MORTGAGE CORPORATION 2 3.31% $10,688
EASTMAN 1 3.50% $6,503
MOVEMENT MORTGAGE, LLC 1 2.88% $8,262
Bank of America 1 3.25% $8,309
OPEN MORTGAGE, LLC 1 2.75% $7,839
SOUTHWEST FUNDING, LP 1 3.50% $13,006
AMERISAVE MORTGAGE CORPORATION 1 3.25% $7,201
Peoples Bank 1 3.63% $6,425
UNIVERSITY Federal Credit Union 1 2.25% $11,398
AMCAP MORTGAGE, LTD. 1 3.63% $8,020
ALTRA 1 2.75% $12,074
The Home Loan Expert LLC 1 2.50% $5,122
SECURITYNATIONAL MORTGAGE COMPANY 1 3.75% $7,453
GREAT WESTERN FINANCIAL SERVICES, INC. 1 3.00% $9,136
First United Bank and Trust Company 1 3.75% $8,915
InterContinental Capital Group, Inc 1 2.50% $8,223
INTERLINC MORTGAGE SERVICES, LLC 1 2.75% $2,938
First Guaranty Mortgage Corporation 1 3.00% $7,581
MICHIGAN MUTUAL, INC. 1 2.63% $7,908

The top Jacksonville FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 7 FHA loans originated. Their average total fees are $8,566, which is $1,238 higher than the next largest lender, FINANCE OF AMERICA MORTGAGE LLC.

The lowest fee Jacksonville FHA lenders (with over 10 loans originated) are .

The lowest rate Jacksonville FHA lenders (with over 10 loans originated) are .

Jacksonville FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Jacksonville (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 $212,500 (11.1%) $297,778 (12.5%) 0.00 174
2018-02-01 $209,475 (7.6%) $313,142 (19.5%) 0.00 179
2018-03-01 $225,900 (3.2%) $319,967 (9.3%) 0.00 181
2018-04-01 $226,225 (-2.7%) $323,721 (8.9%) 0.00 181
2018-05-01 $235,250 (-4.8%) $328,708 (8.3%) 0.00 178
2018-06-01 $240,500 (-7.0%) $330,162 (2.0%) 0.00 184
2018-07-01 $244,975 (0.0%) $316,511 (-0.2%) 0.00 202
2018-08-01 $241,875 (7.0%) $309,224 (2.5%) 0.00 200
2018-09-01 $237,000 (16.0%) $314,555 (9.5%) 0.00 196
2018-10-01 $235,450 (19.3%) $300,306 (5.9%) 0.00 181
2018-11-01 $234,750 (17.8%) $310,554 (10.3%) 0.00 188
2018-12-01 $231,750 (8.5%) $309,189 (6.5%) 0.00 181
2019-01-01 $230,375 (8.4%) $308,164 (3.5%) 0.00 175
2019-02-01 $229,250 (9.4%) $314,972 (0.6%) 0.00 168
2019-03-01 $234,979 (4.0%) $314,993 (-1.6%) 0.00 176
2019-04-01 $240,979 (6.5%) $308,440 (-4.7%) 0.00 194
2019-05-01 $249,475 (6.1%) $340,753 (3.7%) 0.00 205
2019-06-01 $249,900 (3.9%) $347,580 (5.3%) 0.00 196
2019-07-01 $241,459 (-1.4%) $347,679 (9.9%) 0.00 179
2019-08-01 $244,918 (1.3%) $349,517 (13.0%) 0.00 174
2019-09-01 $247,495 (4.4%) $343,255 (9.1%) 0.00 163
2019-10-01 $249,375 (5.9%) $341,096 (13.6%) 0.00 150
2019-11-01 $243,000 (3.5%) $333,146 (7.3%) 0.00 154
2019-12-01 $236,750 (2.2%) $325,750 (5.4%) 0.00 164
2020-01-01 $239,990 (4.2%) $323,350 (4.9%) 0.00 151
2020-02-01 $234,900 (2.5%) $320,855 (1.9%) 0.00 153
2020-03-01 $241,095 (2.6%) $345,028 (9.5%) 0.00 140
2020-04-01 $247,000 (2.5%) $341,927 (10.9%) 0.00 139
2020-05-01 $259,990 (4.2%) $355,604 (4.4%) 0.00 125
2020-06-01 $260,000 (4.0%) $364,017 (4.7%) 0.00 112
2020-07-01 $261,450 (8.3%) $369,008 (6.1%) 0.00 107
2020-08-01 $275,000 (12.3%) $369,242 (5.6%) 0.00 100
2020-09-01 $243,585 (-1.6%) $333,547 (-2.8%) 0.00 88
2020-10-01 $236,000 (-5.4%) $330,986 (-3.0%) 0.00 79
2020-11-01 $215,000 (-11.5%) $312,734 (-6.1%) 0.00 82
2020-12-01 $256,269 (8.2%) $355,639 (9.2%) 0.00 72
2021-01-01 $256,275 (6.8%) $357,046 (10.4%) 0.00 66
2021-02-01 $268,225 (14.2%) $376,763 (17.4%) 0.00 62
2021-03-01 $258,600 (7.3%) $373,468 (8.2%) 0.00 55
2021-04-01 $267,125 (8.2%) $348,848 (2.0%) 0.00 54
2021-05-01 $248,500 (-4.4%) $340,264 (-4.3%) 0.00 64
2021-06-01 $230,000 (-11.5%) $321,939 (-11.6%) 0.00 65
2021-07-01 $254,000 (-2.9%) $368,146 (-0.2%) 0.00 66
2021-08-01 $254,747 (-7.4%) $371,720 (0.7%) 0.00 86
2021-09-01 $267,500 (9.8%) $370,387 (11.0%) 0.00 94
2021-10-01 $225,000 (-4.7%) $375,065 (13.3%) 0.00 87
2021-11-01 $195,219 (-9.2%) $347,785 (11.2%) 0.00 87
2021-12-01 $186,747 (-27.1%) $361,286 (1.6%) 0.00 75
2022-01-01 $197,988 (-22.7%) $347,200 (-2.8%) 0.00 60
2022-02-01 $209,822 (-21.8%) $336,114 (-10.8%) 0.00 53
2022-03-01 $274,300 (6.1%) $402,328 (7.7%) 0.00 54
2022-04-01 $286,250 (7.2%) $429,392 (23.1%) 0.00 65
2022-05-01 $274,975 (10.7%) $434,300 (27.6%) 0.00 82
2022-06-01 $259,000 (12.6%) $393,970 (22.4%) 0.00 86
2022-07-01 $276,950 (9.0%) $392,581 (6.6%) 0.00 99
2022-08-01 $264,225 (3.7%) $404,666 (8.9%) 0.00 118
2022-09-01 $250,000 (-6.5%) $384,263 (3.8%) 0.00 115
2022-10-01 $269,900 (20.0%) $384,821 (2.6%) 0.00 134
2022-11-01 $255,000 (30.6%) $361,693 (4.0%) 0.00 138
Jacksonville's median listing price for 2022-11-01 was $255,000, a difference of $59,781 (30.6%) versus the prior year and $-14,900 versus the prior month.

Jacksonville's median listing price comes in at 0% of the national average.

Jacksonville's average listing price for 2022-11-01 was $361,693, a difference of $13,908 (4.0%) versus the prior year and $-23,128 versus the prior month.

For the 2022-11-01 period, Jacksonville had 138 MLS listings, a difference of 4 listings (3%) versus the prior month and 51 listings (59%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Jacksonville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,050 sqft
2018-02-01 0 days 2,092 sqft
2018-03-01 0 days 2,211 sqft
2018-04-01 0 days 2,220 sqft
2018-05-01 0 days 2,180 sqft
2018-06-01 0 days 2,194 sqft
2018-07-01 0 days 2,149 sqft
2018-08-01 0 days 2,111 sqft
2018-09-01 0 days 2,113 sqft
2018-10-01 0 days 2,165 sqft
2018-11-01 0 days 2,170 sqft
2018-12-01 0 days 2,101 sqft
2019-01-01 0 days 2,010 sqft
2019-02-01 0 days 2,032 sqft
2019-03-01 0 days 2,007 sqft
2019-04-01 0 days 1,982 sqft
2019-05-01 0 days 2,168 sqft
2019-06-01 0 days 2,181 sqft
2019-07-01 0 days 2,248 sqft
2019-08-01 0 days 2,260 sqft
2019-09-01 0 days 2,263 sqft
2019-10-01 0 days 2,265 sqft
2019-11-01 0 days 2,120 sqft
2019-12-01 0 days 2,095 sqft
2020-01-01 0 days 2,108 sqft
2020-02-01 0 days 2,100 sqft
2020-03-01 0 days 2,136 sqft
2020-04-01 0 days 2,140 sqft
2020-05-01 0 days 2,228 sqft
2020-06-01 0 days 2,208 sqft
2020-07-01 0 days 2,235 sqft
2020-08-01 0 days 2,192 sqft
2020-09-01 0 days 2,042 sqft
2020-10-01 0 days 1,949 sqft
2020-11-01 0 days 1,943 sqft
2020-12-01 0 days 2,004 sqft
2021-01-01 0 days 2,012 sqft
2021-02-01 0 days 2,074 sqft
2021-03-01 0 days 2,095 sqft
2021-04-01 0 days 2,157 sqft
2021-05-01 0 days 2,064 sqft
2021-06-01 0 days 1,896 sqft
2021-07-01 0 days 2,000 sqft
2021-08-01 0 days 1,922 sqft
2021-09-01 0 days 1,907 sqft
2021-10-01 0 days 1,792 sqft
2021-11-01 0 days 1,755 sqft
2021-12-01 0 days 1,751 sqft
2022-01-01 0 days 1,720 sqft
2022-02-01 0 days 1,800 sqft
2022-03-01 0 days 2,038 sqft
2022-04-01 0 days 2,015 sqft
2022-05-01 0 days 2,008 sqft
2022-06-01 0 days 1,980 sqft
2022-07-01 0 days 1,947 sqft
2022-08-01 0 days 1,901 sqft
2022-09-01 0 days 1,858 sqft
2022-10-01 0 days 1,892 sqft
2022-11-01 0 days 1,703 sqft
Jacksonville's median listing age (time on market) for 2022-11-01 was 0 days.

Jacksonville's median square footage for active listings during the 2022-11-01 period was 1,703 sqft. One year prior, the average listing was 1,755 sqft.

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).