Kerrville FHA Loan Rates, Closing Costs & Stats

Kerrville, 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.

Kerrville's 37 lenders originated 146 FHA loans during 2021. The total origination value was $32,600,000, with an average FHA loan value of $223,288.

Kerrville FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Kerrville averaged 6.23% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Kerrville's average FHA mortgage closing costs are $7,616.

The average rate for the prior week (2022-11-25) was 6.35% and one month ago for the week of 2022-10-28, the average rate was 6.99%.

The average rate one year ago was 3.62%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.33%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
V.I.P. MORTGAGE, INC. 29 3.24% $9,419
SWBC MORTGAGE CORPORATION 22 3.20% $7,730
LAKEVIEW LOAN SERVICING, LLC 6 3.04% $5,007
QUICKEN LOANS, LLC 6 2.85% $7,381
Mr. Cooper ( Nationstar Mortgage ) 5 3.63% $4,609
AMCAP MORTGAGE, LTD. 4 3.38% $12,778
LIBERTY HOME MORTGAGE CORPORATION 4 3.06% $9,753
PILGRIM MORTGAGE LLC 4 3.25% $9,442
VILLAGE CAPITAL MORTGAGE 4 2.63% $2,962
Northpointe Bank 3 2.96% $8,187
Gateway First Bank 3 2.79% $6,047
BBVA USA 2 3.44% $4,419
GUILD MORTGAGE COMPANY 2 3.06% $10,955
SOUTHWEST STAGE FUNDING, LLC 2 3.31% $3,863
FIRST CENTENNIAL MORTGAGE CORPORATION 2 3.19% $9,981
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 3.56% $10,736
CALIBER HOME LOANS, INC. 2 2.75% $9,529
PENNYMAC LOAN SERVICES, LLC 2 3.56% $4,869
GUARANTEED RATE, INC. 2 3.00% $9,246
ASPIRE FINANCIAL, INC. 1 2.50% $11,033
Bank of America 1 2.88% $3,681
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 3.25% $9,338
S1L, Inc. 1 3.25% $11,248
SUCCESS MORTGAGE PARTNERS, INC. 1 3.13% $7,405
Assurance Financial Group, L.L.C. 1 3.00% $8,727
City Bank 1 2.75% $13,265
DAS Acquisition Company, LLC 1 3.88% $11,992
CMG MORTGAGE, INC. 1 3.25% $9,630
First Bank 1 2.88% $12,582
FREEDOM MORTGAGE CORPORATION 1 3.00% $5,168
Happy State Bank 1 3.88% $8,318
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.38% $9,376
JPMorgan Chase Bank 1 3.75% $54
Lakeview Community Capital, LLC 1 3.75% $3,228
UNION HOME MORTGAGE CORP. 1 3.50% $11,523
Barrington Bank & Trust Company, N.A. 1 2.75% $11,011
Network Funding, L.P. 1 3.13% $13,864

The top Kerrville FHA lender as defined by loan originations is V.I.P. MORTGAGE, INC., with 29 FHA loans originated. Their average total fees are $9,419, which is $1,689 higher than the next largest lender, SWBC MORTGAGE CORPORATION.

The lowest fee Kerrville FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($7,730), V.I.P. MORTGAGE, INC. ($9,419), .

The lowest rate Kerrville FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION (3.20%), V.I.P. MORTGAGE, INC. (3.24%), .

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

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 $399,999 (12.9%) $645,233 (6.9%) 0.00 280
2018-02-01 $391,175 (13.6%) $633,062 (8.8%) 0.00 274
2018-03-01 $399,000 (11.0%) $639,529 (9.8%) 0.00 284
2018-04-01 $399,000 (6.6%) $613,392 (4.3%) 0.00 299
2018-05-01 $415,200 (10.8%) $621,542 (5.4%) 0.00 302
2018-06-01 $425,000 (12.0%) $627,370 (5.0%) 0.00 318
2018-07-01 $422,500 (10.5%) $614,119 (0.4%) 0.00 337
2018-08-01 $421,300 (8.5%) $615,776 (1.2%) 0.00 339
2018-09-01 $410,000 (2.8%) $620,971 (-0.1%) 0.00 336
2018-10-01 $420,225 (-0.5%) $647,862 (1.2%) 0.00 308
2018-11-01 $419,450 (2.1%) $635,301 (1.3%) 0.00 303
2018-12-01 $412,475 (-1.6%) $620,527 (-2.8%) 0.00 305
2019-01-01 $419,025 (4.8%) $632,490 (-2.0%) 0.00 278
2019-02-01 $403,688 (3.2%) $652,066 (3.0%) 0.00 284
2019-03-01 $403,957 (1.2%) $671,893 (5.1%) 0.00 291
2019-04-01 $404,157 (1.3%) $667,538 (8.8%) 0.00 301
2019-05-01 $399,900 (-3.7%) $825,525 (32.8%) 0.00 319
2019-06-01 $416,300 (-2.1%) $892,233 (42.2%) 0.00 329
2019-07-01 $399,250 (-5.5%) $841,870 (37.1%) 0.00 352
2019-08-01 $399,000 (-5.3%) $823,350 (33.7%) 0.00 357
2019-09-01 $399,000 (-2.7%) $817,727 (31.7%) 0.00 347
2019-10-01 $399,000 (-5.1%) $813,978 (25.6%) 0.00 335
2019-11-01 $399,700 (-4.7%) $771,974 (21.5%) 0.00 323
2019-12-01 $451,225 (9.4%) $789,166 (27.2%) 0.00 298
2020-01-01 $444,900 (6.2%) $698,698 (10.5%) 0.00 274
2020-02-01 $438,500 (8.6%) $672,344 (3.1%) 0.00 273
2020-03-01 $439,700 (8.9%) $705,605 (5.0%) 0.00 277
2020-04-01 $439,900 (8.8%) $730,605 (9.5%) 0.00 277
2020-05-01 $459,900 (15.0%) $783,199 (-5.1%) 0.00 276
2020-06-01 $462,450 (11.1%) $777,306 (-12.9%) 0.00 273
2020-07-01 $444,375 (11.3%) $765,819 (-9.0%) 0.00 278
2020-08-01 $469,000 (17.5%) $793,404 (-3.6%) 0.00 250
2020-09-01 $468,500 (17.4%) $789,790 (-3.4%) 0.00 232
2020-10-01 $439,750 (10.2%) $764,421 (-6.1%) 0.00 235
2020-11-01 $436,000 (9.1%) $720,105 (-6.7%) 0.00 223
2020-12-01 $448,000 (-0.7%) $752,807 (-4.6%) 0.00 193
2021-01-01 $430,500 (-3.2%) $843,215 (20.7%) 0.00 160
2021-02-01 $452,975 (3.3%) $875,897 (30.3%) 0.00 153
2021-03-01 $445,950 (1.4%) $897,349 (27.2%) 0.00 145
2021-04-01 $454,750 (3.4%) $938,430 (28.5%) 0.00 139
2021-05-01 $490,000 (6.5%) $957,202 (22.2%) 0.00 137
2021-06-01 $449,250 (-2.9%) $852,212 (9.6%) 0.00 139
2021-07-01 $465,000 (4.6%) $817,912 (6.8%) 0.00 171
2021-08-01 $467,600 (-0.3%) $807,143 (1.7%) 0.00 180
2021-09-01 $475,250 (1.4%) $813,587 (3.0%) 0.00 170
2021-10-01 $492,500 (12.0%) $827,125 (8.2%) 0.00 158
2021-11-01 $514,500 (18.0%) $909,697 (26.3%) 0.00 163
2021-12-01 $497,750 (11.1%) $872,533 (15.9%) 0.00 150
2022-01-01 $504,988 (17.3%) $875,580 (3.8%) 0.00 140
2022-02-01 $521,225 (15.1%) $930,545 (6.2%) 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 $520,313 (11.3%) $937,280 (16.1%) 0.00 200
2022-09-01 $502,813 (5.8%) $902,054 (10.9%) 0.00 213
2022-10-01 $497,450 (1.0%) $832,255 (0.6%) 0.00 232
2022-11-01 $551,450 (7.2%) $844,242 (-7.2%) 0.00 240
Kerrville's median listing price for 2022-11-01 was $551,450, a difference of $36,950 (7.2%) versus the prior year and $54,000 versus the prior month.

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

Kerrville's average listing price for 2022-11-01 was $844,242, a difference of $-65,455 (-7.2%) versus the prior year and $11,987 versus the prior month.

For the 2022-11-01 period, Kerrville had 240 MLS listings, a difference of 8 listings (3%) versus the prior month and 77 listings (47%) 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 2,537 sqft
2018-02-01 0 days 2,489 sqft
2018-03-01 0 days 2,453 sqft
2018-04-01 0 days 2,451 sqft
2018-05-01 0 days 2,535 sqft
2018-06-01 0 days 2,597 sqft
2018-07-01 0 days 2,603 sqft
2018-08-01 0 days 2,608 sqft
2018-09-01 0 days 2,548 sqft
2018-10-01 0 days 2,555 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 2,620 sqft
2019-04-01 0 days 2,634 sqft
2019-05-01 0 days 2,539 sqft
2019-06-01 0 days 2,434 sqft
2019-07-01 0 days 2,376 sqft
2019-08-01 0 days 2,391 sqft
2019-09-01 0 days 2,402 sqft
2019-10-01 0 days 2,413 sqft
2019-11-01 0 days 2,453 sqft
2019-12-01 0 days 2,545 sqft
2020-01-01 0 days 2,530 sqft
2020-02-01 0 days 2,500 sqft
2020-03-01 0 days 2,518 sqft
2020-04-01 0 days 2,499 sqft
2020-05-01 0 days 2,473 sqft
2020-06-01 0 days 2,465 sqft
2020-07-01 0 days 2,412 sqft
2020-08-01 0 days 2,450 sqft
2020-09-01 0 days 2,328 sqft
2020-10-01 0 days 2,291 sqft
2020-11-01 0 days 2,320 sqft
2020-12-01 0 days 2,365 sqft
2021-01-01 0 days 2,339 sqft
2021-02-01 0 days 2,344 sqft
2021-03-01 0 days 2,284 sqft
2021-04-01 0 days 2,363 sqft
2021-05-01 0 days 2,344 sqft
2021-06-01 0 days 2,220 sqft
2021-07-01 0 days 2,061 sqft
2021-08-01 0 days 2,092 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 2,207 sqft
2022-03-01 0 days 2,223 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 2,147 sqft
2022-09-01 0 days 2,055 sqft
2022-10-01 0 days 2,027 sqft
2022-11-01 0 days 2,181 sqft
Kerrville's median listing age (time on market) for 2022-11-01 was 0 days.

Kerrville's median square footage for active listings during the 2022-11-01 period was 2,181 sqft. One year prior, the average listing was 2,208 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).