Kerrville FHA Loan Rates, Closing Costs & Stats

Kerrville, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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.

    Kerrville's 22 lenders originated 74 FHA loans during 2023. The total origination value was $19,930,000, with an average FHA loan value of $269,324.

    Kerrville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Kerrville averaged 6.99% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Kerrville's average FHA mortgage closing costs are $8,711.

    The average rate for the prior week (2024-04-12) was 6.78% and one month ago for the week of 2024-03-15, the average rate was 6.45%.

    The average rate one year ago was 6.08%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Kerrville 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 Kerrville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    V.I.P. MORTGAGE, INC. 16 6.40% $12,541
    SWBC MORTGAGE CORPORATION 11 6.99% $9,026
    PILGRIM MORTGAGE LLC 8 5.94% $13,599
    PLAZA HOME MORTGAGE, INC. 4 6.41% $11,958
    EAGLE HOME MORTGAGE, LLC 3 4.83% $10,202
    GUILD MORTGAGE COMPANY 3 6.75% $11,749
    QUICKEN LOANS, LLC 3 6.87% $8,856
    UNITED WHOLESALE MORTGAGE, LLC 3 6.05% $11,568
    NEWREZ LLC 2 6.25% $12,865
    CALCON MUTUAL MORTGAGE LLC 2 6.38% $16,645
    Paramount Residential Mortgage Group, Inc. 1 6.38% $20,261
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $11,391
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.88% $10,044
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $11,778
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $8,617
    CORNERSTONE HOME LENDING, INC. 1 6.13% $11,546
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.13% $12,367
    DIRECTIONS EQUITY, LLC 1 6.25% $8,604
    DRAPER AND KRAMER MORTGAGE CORP. 1 7.25% $11,560
    Equity Prime Mortgage LLC 1 6.63% $12,446
    AMCAP MORTGAGE, LTD. 1 6.13% $15,576
    LOANPEOPLE, LLC 1 7.38% $15,405

    The top Kerrville FHA lender as defined by loan originations is V.I.P. MORTGAGE, INC., with 16 FHA loans originated. Their average total fees are $12,541, which is $3,515 higher than the next largest lender, SWBC MORTGAGE CORPORATION.

    The lowest fee Kerrville FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($9,026), V.I.P. MORTGAGE, INC. ($12,541), .

    The lowest rate Kerrville FHA lenders (with over 10 loans originated) are V.I.P. MORTGAGE, INC. (6.40%), SWBC MORTGAGE CORPORATION (6.99%), .

    Kerrville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    KERRVILLE, TX KERR 2022 $420,680 $538,650 $651,050 $809,150
    KERRVILLE, TX KERR 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Kerrville (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 $402,637 (13.1%) $644,553 (5.7%) 0.00 282
    2018-02-01 $391,175 (13.6%) $631,240 (7.4%) 0.00 276
    2018-03-01 $399,000 (10.9%) $639,529 (9.3%) 0.00 286
    2018-04-01 $399,000 (6.4%) $612,427 (3.1%) 0.00 300
    2018-05-01 $411,000 (9.3%) $620,616 (4.2%) 0.00 303
    2018-06-01 $425,000 (11.9%) $632,643 (4.9%) 0.00 321
    2018-07-01 $421,500 (9.5%) $612,455 (-0.9%) 0.00 339
    2018-08-01 $416,875 (7.4%) $613,713 (1.2%) 0.00 341
    2018-09-01 $404,269 (1.4%) $619,201 (0.0%) 0.00 338
    2018-10-01 $419,225 (-1.1%) $646,401 (1.1%) 0.00 310
    2018-11-01 $419,225 (1.7%) $634,264 (1.2%) 0.00 303
    2018-12-01 $412,475 (-1.6%) $620,527 (-2.7%) 0.00 305
    2019-01-01 $419,025 (4.1%) $632,490 (-1.9%) 0.00 278
    2019-02-01 $403,688 (3.2%) $652,066 (3.3%) 0.00 284
    2019-03-01 $403,764 (1.2%) $671,261 (5.0%) 0.00 291
    2019-04-01 $403,964 (1.2%) $666,168 (8.8%) 0.00 303
    2019-05-01 $399,900 (-2.7%) $824,091 (32.8%) 0.00 321
    2019-06-01 $416,300 (-2.1%) $890,423 (40.8%) 0.00 331
    2019-07-01 $399,250 (-5.3%) $842,227 (37.5%) 0.00 353
    2019-08-01 $399,000 (-4.3%) $823,717 (34.2%) 0.00 358
    2019-09-01 $399,000 (-1.3%) $818,060 (32.1%) 0.00 348
    2019-10-01 $399,000 (-4.8%) $814,289 (26.0%) 0.00 336
    2019-11-01 $399,900 (-4.6%) $772,422 (21.8%) 0.00 324
    2019-12-01 $452,500 (9.7%) $789,595 (27.3%) 0.00 299
    2020-01-01 $444,925 (6.2%) $699,494 (10.6%) 0.00 275
    2020-02-01 $439,000 (8.8%) $672,344 (3.1%) 0.00 274
    2020-03-01 $439,700 (8.9%) $707,260 (5.4%) 0.00 278
    2020-04-01 $439,900 (8.9%) $731,273 (9.8%) 0.00 278
    2020-05-01 $462,450 (15.6%) $783,686 (-4.9%) 0.00 277
    2020-06-01 $462,450 (11.1%) $776,643 (-12.8%) 0.00 275
    2020-07-01 $444,625 (11.4%) $766,365 (-9.0%) 0.00 279
    2020-08-01 $469,000 (17.5%) $793,945 (-3.6%) 0.00 251
    2020-09-01 $469,125 (17.6%) $790,343 (-3.4%) 0.00 233
    2020-10-01 $439,875 (10.2%) $765,050 (-6.1%) 0.00 235
    2020-11-01 $437,000 (9.3%) $718,811 (-6.9%) 0.00 224
    2020-12-01 $446,475 (-1.3%) $751,120 (-4.9%) 0.00 194
    2021-01-01 $430,500 (-3.2%) $843,215 (20.6%) 0.00 160
    2021-02-01 $454,200 (3.5%) $877,946 (30.6%) 0.00 153
    2021-03-01 $445,950 (1.4%) $897,349 (26.9%) 0.00 145
    2021-04-01 $454,750 (3.4%) $938,430 (28.3%) 0.00 139
    2021-05-01 $490,000 (6.0%) $957,202 (22.1%) 0.00 137
    2021-06-01 $449,250 (-2.9%) $852,212 (9.7%) 0.00 139
    2021-07-01 $465,000 (4.6%) $817,912 (6.7%) 0.00 171
    2021-08-01 $467,600 (-0.3%) $807,143 (1.7%) 0.00 180
    2021-09-01 $475,500 (1.4%) $813,251 (2.9%) 0.00 170
    2021-10-01 $492,500 (12.0%) $827,125 (8.1%) 0.00 158
    2021-11-01 $514,500 (17.7%) $909,697 (26.6%) 0.00 163
    2021-12-01 $497,750 (11.5%) $872,533 (16.2%) 0.00 150
    2022-01-01 $504,988 (17.3%) $875,580 (3.8%) 0.00 140
    2022-02-01 $521,225 (14.8%) $930,545 (6.0%) 0.00 124
    2022-03-01 $520,475 (16.7%) $904,516 (0.8%) 0.00 133
    2022-04-01 $534,500 (17.5%) $954,106 (1.7%) 0.00 136
    2022-05-01 $482,000 (-1.6%) $888,188 (-7.2%) 0.00 140
    2022-06-01 $436,625 (-2.8%) $969,505 (13.8%) 0.00 149
    2022-07-01 $500,000 (7.5%) $949,107 (16.0%) 0.00 167
    2022-08-01 $515,469 (10.2%) $931,821 (15.5%) 0.00 201
    2022-09-01 $501,381 (5.4%) $895,167 (10.1%) 0.00 216
    2022-10-01 $497,450 (1.0%) $832,255 (0.6%) 0.00 232
    2022-11-01 $551,475 (7.2%) $844,864 (-7.1%) 0.00 240
    2022-12-01 $544,900 (9.5%) $814,767 (-6.6%) 0.00 234
    2023-01-01 $539,450 (6.8%) $828,269 (-5.4%) 0.00 214
    2023-02-01 $575,000 (10.3%) $885,792 (-4.8%) 0.00 197
    2023-03-01 $597,000 (14.7%) $914,567 (1.1%) 0.00 197
    2023-04-01 $580,000 (8.5%) $904,752 (-5.2%) 0.00 197
    2023-05-01 $598,000 (24.1%) $931,985 (4.9%) 0.00 210
    2023-06-01 $629,317 (44.1%) $952,717 (-1.7%) 0.00 208
    2023-07-01 $599,000 (19.8%) $919,819 (-3.1%) 0.00 209
    2023-08-01 $599,000 (16.2%) $935,302 (0.4%) 0.00 245
    2023-09-01 $619,900 (23.6%) $943,965 (5.5%) 0.00 251
    2023-10-01 $596,500 (19.9%) $917,951 (10.3%) 0.00 252
    2023-11-01 $590,500 (7.1%) $960,027 (13.6%) 0.00 263
    2023-12-01 $589,000 (8.1%) $962,901 (18.2%) 0.00 273
    2024-01-01 $527,250 (-2.3%) $891,607 (7.7%) 0.00 281
    2024-02-01 $554,191 (-3.6%) $854,882 (-3.5%) 0.00 289
    2024-03-01 $560,000 (-6.2%) $885,885 (-3.1%) 0.00 300
    Kerrville's median listing price for 2024-03-01 was $560,000, a difference of $-37,000 (-6.2%) versus the prior year and $5,809 versus the prior month.

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

    Kerrville's average listing price for 2024-03-01 was $885,885, a difference of $-28,682 (-3.1%) versus the prior year and $31,003 versus the prior month.

    For the 2024-03-01 period, Kerrville had 300 MLS listings, a difference of 11 listings (4%) versus the prior month and 103 listings (52%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Kerrville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,542 sqft
    2018-02-01 0 days 2,489 sqft
    2018-03-01 0 days 2,453 sqft
    2018-04-01 0 days 2,453 sqft
    2018-05-01 0 days 2,539 sqft
    2018-06-01 0 days 2,597 sqft
    2018-07-01 0 days 2,601 sqft
    2018-08-01 0 days 2,607 sqft
    2018-09-01 0 days 2,527 sqft
    2018-10-01 0 days 2,550 sqft
    2018-11-01 0 days 2,505 sqft
    2018-12-01 0 days 2,414 sqft
    2019-01-01 0 days 2,490 sqft
    2019-02-01 0 days 2,541 sqft
    2019-03-01 0 days 2,619 sqft
    2019-04-01 0 days 2,629 sqft
    2019-05-01 0 days 2,539 sqft
    2019-06-01 0 days 2,434 sqft
    2019-07-01 0 days 2,386 sqft
    2019-08-01 0 days 2,397 sqft
    2019-09-01 0 days 2,406 sqft
    2019-10-01 0 days 2,415 sqft
    2019-11-01 0 days 2,454 sqft
    2019-12-01 0 days 2,545 sqft
    2020-01-01 0 days 2,535 sqft
    2020-02-01 0 days 2,505 sqft
    2020-03-01 0 days 2,519 sqft
    2020-04-01 0 days 2,508 sqft
    2020-05-01 0 days 2,476 sqft
    2020-06-01 0 days 2,465 sqft
    2020-07-01 0 days 2,418 sqft
    2020-08-01 0 days 2,450 sqft
    2020-09-01 0 days 2,333 sqft
    2020-10-01 0 days 2,295 sqft
    2020-11-01 0 days 2,320 sqft
    2020-12-01 0 days 2,365 sqft
    2021-01-01 0 days 2,334 sqft
    2021-02-01 0 days 2,335 sqft
    2021-03-01 0 days 2,260 sqft
    2021-04-01 0 days 2,360 sqft
    2021-05-01 0 days 2,342 sqft
    2021-06-01 0 days 2,208 sqft
    2021-07-01 0 days 2,061 sqft
    2021-08-01 0 days 2,087 sqft
    2021-09-01 0 days 2,120 sqft
    2021-10-01 0 days 2,080 sqft
    2021-11-01 0 days 2,208 sqft
    2021-12-01 0 days 2,148 sqft
    2022-01-01 0 days 2,157 sqft
    2022-02-01 0 days 2,206 sqft
    2022-03-01 0 days 2,221 sqft
    2022-04-01 0 days 2,232 sqft
    2022-05-01 0 days 2,043 sqft
    2022-06-01 0 days 1,911 sqft
    2022-07-01 0 days 2,040 sqft
    2022-08-01 0 days 2,136 sqft
    2022-09-01 0 days 2,038 sqft
    2022-10-01 0 days 2,027 sqft
    2022-11-01 0 days 2,177 sqft
    2022-12-01 0 days 2,133 sqft
    2023-01-01 0 days 2,130 sqft
    2023-02-01 0 days 2,235 sqft
    2023-03-01 0 days 2,313 sqft
    2023-04-01 0 days 2,300 sqft
    2023-05-01 0 days 2,334 sqft
    2023-06-01 0 days 2,322 sqft
    2023-07-01 0 days 2,250 sqft
    2023-08-01 0 days 2,249 sqft
    2023-09-01 0 days 2,263 sqft
    2023-10-01 0 days 2,203 sqft
    2023-11-01 0 days 2,163 sqft
    2023-12-01 0 days 2,186 sqft
    2024-01-01 0 days 2,114 sqft
    2024-02-01 0 days 2,130 sqft
    2024-03-01 0 days 2,186 sqft
    Kerrville's median listing age (time on market) for 2024-03-01 was 0 days.

    Kerrville's median square footage for active listings during the 2024-03-01 period was 2,186 sqft. One year prior, the average listing was 2,313 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).