Jacksonville FHA Loan Rates, Closing Costs & Stats

Jacksonville, 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.

    Jacksonville's 33 lenders originated 63 FHA loans during 2023. The total origination value was $13,325,000, with an average FHA loan value of $211,508.

    Jacksonville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Jacksonville averaged 0.31% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Jacksonville's average FHA mortgage closing costs are $7,315.

    The average rate for the prior week (2024-11-08) was 6.82% and one month ago for the week of 2024-10-11, the average rate was 6.32%.

    The average rate one year ago was 7.36%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 5 6.81% $9,918
    QUICKEN LOANS, LLC 4 6.56% $9,497
    CARDINAL FINANCIAL 3 6.25% $11,688
    HALLMARK HOME MORTGAGE, LLC 3 6.92% $10,821
    MORTGAGE FINANCIAL SERVICES, LLC 3 6.92% $8,766
    SFMC, LP 2 6.69% $17,172
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.00% $11,301
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.19% $6,416
    Prosperity Bank 2 6.56% $7,197
    GUILD MORTGAGE COMPANY 2 5.88% $10,180
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 7.44% $10,733
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.88% $10,128
    CMG MORTGAGE, INC. 2 6.69% $14,905
    NATIONS RELIABLE LENDING, LLC 1 6.88% $12,797
    PENNYMAC LOAN SERVICES, LLC 1 7.00% $12,582
    Plains Commerce Bank 1 8.50% $7,280
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.75% $4,733
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.50% $6,667
    TEXAS TECH 1 7.00% $8,488
    UNION HOME MORTGAGE CORP. 1 7.13% $17,364
    LOANDEPOT.COM, LLC 1 5.99% $9,323
    BROKER SOLUTIONS, INC. 1 6.75% $9,780
    Century Mortgage Company DBA Century Lending Company 1 5.25% $10,321
    Equity Prime Mortgage LLC 1 6.00% $6,370
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.13% $9,590
    Gateway First Bank 1 7.38% $5,976
    GENEVA FINANCIAL, LLC 1 8.25% $8,673
    Ixonia Bank 1 8.13% $10,632
    AMCAP MORTGAGE, LTD. 1 7.63% $9,728
    MANN FINANCIAL INC. 1 6.75% $8,233
    Midwest Mortgage Associates Corporation 1 5.50% $5,066
    MOUNTAIN WEST FINANCIAL, INC. 1 6.50% $5,877
    Nations Lending Corporation 1 7.75% $5,821

    The top Jacksonville FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 5 FHA loans originated. Their average total fees are $9,918, which is $421 higher than the next largest lender, QUICKEN LOANS, 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
    JACKSONVILLE, TX CHEROKEE 2023 $472,030 $604,400 $730,525 $907,900

    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 $212,225 (11.0%) $296,930 (12.1%) 0.00 177
    2018-02-01 $209,500 (7.6%) $311,820 (19.0%) 0.00 182
    2018-03-01 $227,450 (3.9%) $317,900 (8.7%) 0.00 186
    2018-04-01 $228,200 (-2.9%) $323,386 (8.2%) 0.00 183
    2018-05-01 $235,250 (-5.2%) $328,140 (7.5%) 0.00 180
    2018-06-01 $244,000 (-5.6%) $330,249 (1.8%) 0.00 185
    2018-07-01 $244,500 (-0.2%) $315,751 (-0.6%) 0.00 204
    2018-08-01 $240,500 (7.9%) $308,280 (2.5%) 0.00 202
    2018-09-01 $237,000 (16.0%) $313,319 (9.4%) 0.00 198
    2018-10-01 $236,550 (20.5%) $299,936 (6.0%) 0.00 184
    2018-11-01 $235,000 (17.9%) $310,022 (9.8%) 0.00 191
    2018-12-01 $235,000 (10.0%) $310,749 (7.2%) 0.00 184
    2019-01-01 $231,900 (9.3%) $309,476 (4.2%) 0.00 180
    2019-02-01 $229,250 (9.4%) $315,877 (1.3%) 0.00 172
    2019-03-01 $234,957 (3.3%) $315,702 (-0.7%) 0.00 179
    2019-04-01 $242,207 (6.1%) $310,222 (-4.1%) 0.00 196
    2019-05-01 $249,700 (6.1%) $342,645 (4.4%) 0.00 207
    2019-06-01 $249,900 (2.4%) $348,351 (5.5%) 0.00 200
    2019-07-01 $241,818 (-1.1%) $347,683 (10.1%) 0.00 180
    2019-08-01 $244,918 (1.8%) $350,176 (13.6%) 0.00 176
    2019-09-01 $247,495 (4.4%) $346,382 (10.6%) 0.00 165
    2019-10-01 $249,600 (5.5%) $346,625 (15.6%) 0.00 153
    2019-11-01 $243,000 (3.4%) $338,927 (9.3%) 0.00 158
    2019-12-01 $239,173 (1.8%) $326,085 (4.9%) 0.00 168
    2020-01-01 $241,095 (4.0%) $324,091 (4.7%) 0.00 155
    2020-02-01 $234,950 (2.5%) $320,823 (1.6%) 0.00 156
    2020-03-01 $242,898 (3.4%) $347,316 (10.0%) 0.00 142
    2020-04-01 $250,325 (3.4%) $344,266 (11.0%) 0.00 142
    2020-05-01 $260,000 (4.1%) $357,039 (4.2%) 0.00 128
    2020-06-01 $261,725 (4.7%) $366,334 (5.2%) 0.00 115
    2020-07-01 $273,075 (12.9%) $371,290 (6.8%) 0.00 110
    2020-08-01 $275,950 (12.7%) $367,974 (5.1%) 0.00 103
    2020-09-01 $250,250 (1.1%) $334,259 (-3.5%) 0.00 93
    2020-10-01 $236,500 (-5.3%) $331,502 (-4.4%) 0.00 81
    2020-11-01 $227,175 (-6.5%) $311,598 (-8.1%) 0.00 85
    2020-12-01 $256,425 (7.2%) $355,445 (9.0%) 0.00 74
    2021-01-01 $256,275 (6.3%) $357,068 (10.2%) 0.00 68
    2021-02-01 $272,450 (16.0%) $376,646 (17.4%) 0.00 63
    2021-03-01 $261,300 (7.6%) $373,044 (7.4%) 0.00 56
    2021-04-01 $267,125 (6.7%) $348,848 (1.3%) 0.00 54
    2021-05-01 $248,750 (-4.3%) $341,312 (-4.4%) 0.00 65
    2021-06-01 $230,000 (-12.1%) $323,246 (-11.8%) 0.00 66
    2021-07-01 $259,000 (-5.2%) $368,688 (-0.7%) 0.00 67
    2021-08-01 $254,997 (-7.6%) $370,950 (0.8%) 0.00 88
    2021-09-01 $272,313 (8.8%) $373,924 (11.9%) 0.00 96
    2021-10-01 $228,000 (-3.6%) $376,957 (13.7%) 0.00 89
    2021-11-01 $195,741 (-13.8%) $348,068 (11.7%) 0.00 87
    2021-12-01 $191,244 (-25.4%) $361,954 (1.8%) 0.00 75
    2022-01-01 $198,494 (-22.6%) $348,226 (-2.5%) 0.00 61
    2022-02-01 $209,944 (-22.9%) $337,224 (-10.5%) 0.00 54
    2022-03-01 $277,150 (6.1%) $402,771 (8.0%) 0.00 55
    2022-04-01 $314,900 (17.9%) $422,725 (21.2%) 0.00 79
    2022-05-01 $309,900 (24.6%) $427,850 (25.4%) 0.00 94
    2022-06-01 $297,250 (29.2%) $394,696 (22.1%) 0.00 95
    2022-07-01 $297,200 (14.8%) $392,449 (6.4%) 0.00 111
    2022-08-01 $277,175 (8.7%) $405,594 (9.3%) 0.00 127
    2022-09-01 $264,675 (-2.8%) $387,719 (3.7%) 0.00 129
    2022-10-01 $275,000 (20.6%) $386,083 (2.4%) 0.00 139
    2022-11-01 $255,000 (30.3%) $364,229 (4.6%) 0.00 141
    2022-12-01 $255,000 (33.3%) $339,442 (-6.2%) 0.00 140
    2023-01-01 $258,675 (30.3%) $336,597 (-3.3%) 0.00 122
    2023-02-01 $255,000 (21.5%) $334,122 (-0.9%) 0.00 128
    2023-03-01 $258,675 (-6.7%) $369,564 (-8.2%) 0.00 137
    2023-04-01 $304,500 (-3.3%) $386,330 (-8.6%) 0.00 130
    2023-05-01 $325,600 (5.1%) $386,446 (-9.7%) 0.00 130
    2023-06-01 $293,750 (-1.2%) $376,823 (-4.5%) 0.00 143
    2023-07-01 $300,000 (0.9%) $403,538 (2.8%) 0.00 172
    2023-08-01 $325,000 (17.3%) $402,451 (-0.8%) 0.00 182
    2023-09-01 $310,000 (17.1%) $386,636 (-0.3%) 0.00 186
    2023-10-01 $301,250 (9.6%) $377,344 (-2.3%) 0.00 192
    2023-11-01 $305,000 (19.6%) $379,238 (4.1%) 0.00 186
    2023-12-01 $310,000 (21.6%) $393,299 (15.9%) 0.00 187
    2024-01-01 $272,450 (5.3%) $379,597 (12.8%) 0.00 188
    2024-02-01 $259,450 (1.8%) $367,085 (9.9%) 0.00 195
    2024-03-01 $292,000 (12.9%) $383,217 (3.7%) 0.00 184
    2024-04-01 $293,750 (-3.5%) $385,004 (-0.3%) 0.00 187
    2024-05-01 $308,600 (-5.2%) $406,043 (5.1%) 0.00 179
    2024-06-01 $299,900 (2.1%) $396,513 (5.2%) 0.00 173
    2024-07-01 $299,450 (-0.2%) $392,863 (-2.7%) 0.00 174
    2024-08-01 $285,000 (-12.3%) $404,053 (0.4%) 0.00 181
    2024-09-01 $295,625 (-4.6%) $409,641 (6.0%) 0.00 173
    2024-10-01 $295,350 (-2.0%) $421,078 (11.6%) 0.00 184
    Jacksonville's median listing price for 2024-10-01 was $295,350, a difference of $-5,900 (-2.0%) versus the prior year and $-275 versus the prior month.

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

    Jacksonville's average listing price for 2024-10-01 was $421,078, a difference of $43,734 (11.6%) versus the prior year and $11,437 versus the prior month.

    For the 2024-10-01 period, Jacksonville had 184 MLS listings, a difference of 11 listings (6%) versus the prior month and -8 listings (-4%) 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 2,048 sqft
    2018-02-01 0 days 2,080 sqft
    2018-03-01 0 days 2,082 sqft
    2018-04-01 0 days 2,200 sqft
    2018-05-01 0 days 2,175 sqft
    2018-06-01 0 days 2,192 sqft
    2018-07-01 0 days 2,136 sqft
    2018-08-01 0 days 2,098 sqft
    2018-09-01 0 days 2,094 sqft
    2018-10-01 0 days 2,155 sqft
    2018-11-01 0 days 2,168 sqft
    2018-12-01 0 days 2,108 sqft
    2019-01-01 0 days 2,009 sqft
    2019-02-01 0 days 2,032 sqft
    2019-03-01 0 days 2,004 sqft
    2019-04-01 0 days 1,982 sqft
    2019-05-01 0 days 2,180 sqft
    2019-06-01 0 days 2,198 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 2,148 sqft
    2019-12-01 0 days 2,103 sqft
    2020-01-01 0 days 2,120 sqft
    2020-02-01 0 days 2,104 sqft
    2020-03-01 0 days 2,152 sqft
    2020-04-01 0 days 2,176 sqft
    2020-05-01 0 days 2,250 sqft
    2020-06-01 0 days 2,220 sqft
    2020-07-01 0 days 2,294 sqft
    2020-08-01 0 days 2,196 sqft
    2020-09-01 0 days 2,057 sqft
    2020-10-01 0 days 1,953 sqft
    2020-11-01 0 days 1,947 sqft
    2020-12-01 0 days 2,008 sqft
    2021-01-01 0 days 2,023 sqft
    2021-02-01 0 days 2,092 sqft
    2021-03-01 0 days 2,105 sqft
    2021-04-01 0 days 2,173 sqft
    2021-05-01 0 days 2,076 sqft
    2021-06-01 0 days 1,918 sqft
    2021-07-01 0 days 2,000 sqft
    2021-08-01 0 days 1,922 sqft
    2021-09-01 0 days 1,913 sqft
    2021-10-01 0 days 1,792 sqft
    2021-11-01 0 days 1,749 sqft
    2021-12-01 0 days 1,751 sqft
    2022-01-01 0 days 1,724 sqft
    2022-02-01 0 days 1,817 sqft
    2022-03-01 0 days 2,054 sqft
    2022-04-01 0 days 2,013 sqft
    2022-05-01 0 days 2,007 sqft
    2022-06-01 0 days 1,994 sqft
    2022-07-01 0 days 1,987 sqft
    2022-08-01 0 days 1,920 sqft
    2022-09-01 0 days 1,889 sqft
    2022-10-01 0 days 1,907 sqft
    2022-11-01 0 days 1,790 sqft
    2022-12-01 0 days 1,690 sqft
    2023-01-01 0 days 1,743 sqft
    2023-02-01 0 days 1,649 sqft
    2023-03-01 0 days 1,684 sqft
    2023-04-01 0 days 1,793 sqft
    2023-05-01 0 days 1,864 sqft
    2023-06-01 0 days 1,799 sqft
    2023-07-01 0 days 1,922 sqft
    2023-08-01 0 days 1,935 sqft
    2023-09-01 0 days 1,864 sqft
    2023-10-01 0 days 1,803 sqft
    2023-11-01 0 days 1,799 sqft
    2023-12-01 0 days 1,794 sqft
    2024-01-01 0 days 1,764 sqft
    2024-02-01 0 days 1,697 sqft
    2024-03-01 0 days 1,751 sqft
    2024-04-01 0 days 1,783 sqft
    2024-05-01 0 days 1,799 sqft
    2024-06-01 0 days 1,850 sqft
    2024-07-01 0 days 1,855 sqft
    2024-08-01 0 days 1,866 sqft
    2024-09-01 0 days 1,872 sqft
    2024-10-01 0 days 1,818 sqft
    Jacksonville's median listing age (time on market) for 2024-10-01 was 0 days.

    Jacksonville's median square footage for active listings during the 2024-10-01 period was 1,818 sqft. One year prior, the average listing was 1,803 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).