Killeen FHA Loans

KILLEEN-TEMPLE, 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.

    Killeen's 154 lenders originated 2,050 FHA loans during 2021. The total origination value was $402,400,000, with an average FHA loan value of $196,293.

    Killeen FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Killeen averaged 5.33% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

    The average rate for the prior week (2022-05-06) was 5.36% and one month ago for the week of 2022-04-08, the average rate was 5.13%.

    The average rate one year ago was 3.04%.

    For refis of the same type during the week of 2022-05-13, the average rate was 4.75%.

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

    Killeen FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Killeen level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 515 3.46% $7,045
    DHI MORTGAGE COMPANY, LTD. 130 2.88% $6,970
    SWBC MORTGAGE CORPORATION 128 3.18% $6,103
    LAKEVIEW LOAN SERVICING, LLC 72 3.08% $4,584
    CORNERSTONE HOME LENDING, INC. 67 3.41% $8,483
    First National Bank Texas 66 2.97% $7,651
    QUICKEN LOANS, LLC 65 2.84% $5,714
    Gateway First Bank 54 3.54% $6,279
    Lakeview Community Capital, LLC 34 3.12% $4,557
    LEADERONE FINANCIAL CORPORATION 32 3.13% $6,653
    AMCAP MORTGAGE, LTD. 30 3.49% $8,754
    GUILD MORTGAGE COMPANY 29 3.47% $8,266
    SENTE MORTGAGE, INC. 26 3.54% $8,120
    THRIVE MORTGAGE, LLC 24 3.32% $9,751
    VILLAGE CAPITAL & INVESTMENT LLC 24 2.85% $1,989
    CMG MORTGAGE, INC. 22 3.36% $9,125
    FREEDOM MORTGAGE CORPORATION 20 2.98% $5,173
    GUARANTEED RATE, INC. 19 3.34% $8,346
    PENNYMAC LOAN SERVICES, LLC 18 3.14% $4,835
    PLANET HOME LENDING, LLC 18 3.17% $6,159
    Mr. Cooper ( Nationstar Mortgage ) 18 3.37% $3,145
    CALIBER HOME LOANS, INC. 17 2.83% $5,736
    AMERICAN PACIFIC MORTGAGE CORPORATION 16 3.01% $5,383
    SECURITYNATIONAL MORTGAGE COMPANY 14 3.74% $8,431
    UNITED WHOLESALE MORTGAGE, LLC 12 2.79% $7,584
    ENVOY MORTGAGE, LTD 11 3.42% $6,770
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 10 3.41% $8,019
    UNIVERSITY Federal Credit Union 10 2.76% $8,026
    CROSSCOUNTRY MORTGAGE, LLC 9 3.32% $9,170
    Network Funding, L.P. 9 2.97% $9,604
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 3.47% $7,682
    AmeriHome Mortgage Company, LLC 7 3.12% $4,468
    Carrington Mortgage Services, LLC 7 3.93% $8,355
    LOANDEPOT.COM, LLC 7 3.48% $8,203
    CITY FIRST MORTGAGE SERVICES, L.L.C. 7 3.59% $9,073
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.60% $10,092
    Mortgage Research Center, LLC 6 3.02% $6,514
    NEWREZ LLC 6 2.79% $4,161
    S1L, Inc. 6 3.48% $8,351
    HOME POINT FINANCIAL CORPORATION 6 3.12% $9,045
    Flagstar Bank, FSB 6 2.50% $6,654
    SOUTHWEST FUNDING, LP 5 3.93% $9,825
    Extraco Banks 5 2.98% $7,022
    MID AMERICA MORTGAGE, INC. 5 3.17% $5,130
    Wallick & Volk, Inc. 5 3.18% $6,292
    BOKF 5 3.10% $6,974
    MUTUAL OF OMAHA MORTGAGE, INC. 5 3.55% $8,174
    Paramount Residential Mortgage Group, Inc. 4 3.53% $8,899
    CANOPY MORTGAGE, LLC 4 2.44% $8,450
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.47% $5,756
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 3.84% $8,638
    COUNTRYPLACE MORTGAGE, LTD. 3 3.25% $16,894
    NATIONS RELIABLE LENDING, LLC 3 3.50% $10,081
    Republic State Mortgage Co. 3 3.29% $8,826
    Nations Lending Corporation 3 3.25% $9,070
    BROKER SOLUTIONS, INC. 3 3.33% $7,770
    Loan Simple, Inc. 3 4.21% $9,443
    HOMESIDE FINANCIAL, LLC 3 3.29% $8,607
    LOANPEOPLE, LLC 3 3.67% $8,921
    TEXELL Credit Union 3 2.30% $7,517
    INTERLINC MORTGAGE SERVICES, LLC 3 3.58% $10,602
    EVERETT FINANCIAL, INC. 3 3.83% $7,423
    SUMMIT FUNDING, INC. 3 3.42% $9,661
    Bank of England 3 3.21% $8,296
    The Home Loan Expert LLC 3 3.08% $9,580
    GUARANTEED RATE AFFINITY, LLC 3 3.17% $6,937
    Amerifirst Financial, Inc. 3 3.63% $8,411
    Austin Capital Bank SSB 2 3.28% $10,945
    First Guaranty Mortgage Corporation 2 2.75% $5,340
    First United Bank and Trust Company 2 3.25% $5,529
    DIRECT MORTGAGE LOANS, LLC 2 3.50% $5,304
    GERSHMAN INVESTMENT CORP. 2 2.63% $7,430
    Goldwater Bank, N.A. 2 3.06% $12,511
    GREAT WESTERN FINANCIAL SERVICES, INC. 2 3.06% $8,225
    DIRECTIONS EQUITY, LLC 2 3.19% $7,034
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.56% $8,009
    Hometown Lenders, Inc. 2 4.00% $9,490
    InterContinental Capital Group, Inc 2 2.94% $6,439
    KELLER MORTGAGE, LLC 2 3.00% $12,425
    LEGEND LENDING CORPORATION 2 3.19% $4,646
    MORTGAGE FINANCIAL SERVICES, LLC 2 2.94% $10,248
    BBVA USA 2 3.06% $9,780
    Northpointe Bank 2 3.50% $8,016
    PANORAMA MORTGAGE GROUP, LLC 2 3.19% $6,177
    Barrington Bank & Trust Company, N.A. 2 2.88% $4,639
    PLAZA HOME MORTGAGE, INC. 2 2.81% $8,092
    BancorpSouth Bank 2 3.06% $7,887
    ROUNDPOINT MORTGAGE SERVICING CORPORATION 2 3.00% $6,587
    SOUTHWEST STAGE FUNDING, LLC 2 2.81% $4,823
    UNION HOME MORTGAGE CORP. 2 3.13% $7,768
    AMERICAN FINANCING CORPORATION 2 2.81% $5,491
    V.I.P. MORTGAGE, INC. 2 3.19% $8,944
    Waterstone Mortgage Corporation 2 3.56% $10,556
    MANN FINANCIAL INC. 1 3.00% $8,959
    MEMBER FIRST MORTGAGE, LLC 1 3.00% $8,214
    MICHIGAN MUTUAL, INC. 1 3.63% $11,686
    CHERRY CREEK MORTGAGE, LLC 1 3.88% $5,442
    MLD MORTGAGE INC. 1 2.38% $7,148
    First Home Bank 1 4.13% $9,162
    BROOKHOLLOW MORTGAGE SERVICES, LTD 1 3.13% $8,863
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 3.25% $7,079
    MOVEMENT MORTGAGE, LLC 1 4.00% $9,069
    HOME FINANCING UNLIMITED, INC. 1 2.63% $6,517
    BECKAM FUNDING CORP. 1 3.38% $16,802
    WESTERN EXPRESS LENDING 1 2.88% $9,237
    HANCOCK MORTGAGE PARTNERS, LLC 1 2.75% $7,816
    American Mortgage Bank, LLC 1 4.25% $7,499
    BAYSHORE MORTGAGE FUNDING, LLC 1 2.63% $5,724
    NFM, INC. 1 3.25% $5,079
    Trinity Oaks Mortgage, LLC 1 3.63% $6,592
    NOVA FINANCIAL & INVESTMENT CORPORATION 1 2.50% $6,392
    OCEANSIDE MORTGAGE COMPANY 1 2.49% $1,986
    OCMBC, INC. 1 3.75% $7,779
    OPEN MORTGAGE, LLC 1 3.75% $10,650
    Watermark Capital, Inc. 1 2.88% $10,085
    ACADEMY MORTGAGE CORPORATION 1 3.75% $6,060
    FINANCE OF AMERICA MORTGAGE LLC 1 3.00% $7,365
    PILGRIM MORTGAGE LLC 1 3.13% $7,390
    Great Plains National Bank 1 3.25% $7,573
    AMERICAN FINANCIAL RESOURCES, INC. 1 3.75% $5,985
    ZILLOW HOME LOANS, LLC 1 2.50% $12,046
    Bank of America 1 2.88% $146
    AMERICAN FINANCIAL NETWORK, INC. 1 3.63% $3,088
    RANLIFE, INC. 1 2.88% $7,198
    RB MORTGAGE LLC 1 2.88% $5,498
    Regions Bank 1 2.50% $10,471
    ENDEAVOR CAPITAL, LLC. 1 2.50% $1,662
    FBC MORTGAGE, LLC 1 3.13% $8,887
    ROYAL UNITED MORTGAGE LLC 1 2.75% $13,645
    FIRST CONTINENTAL MORTGAGE, LTD. 1 3.25% $4,446
    ASPIRE FINANCIAL, INC. 1 2.75% $6,537
    Ameris Bank 1 3.00% $5,394
    SFMC, LP 1 3.63% $6,870
    Southwest Bank 1 3.25% $8,466
    Equity Prime Mortgage LLC 1 3.13% $11,502
    ACOPIA, LLC 1 3.25% $7,594
    First Savings Bank 1 2.88% $10,533
    SUN WEST MORTGAGE COMPANY, INC. 1 2.63% $6,107
    INFINITY MORTGAGE HOLDINGS, LLC 1 2.88% $7,992
    AMERICA'S CHOICE HOME LOANS LP 1 2.25% $5,514
    HOMETRUST MORTGAGE COMPANY 1 3.63% $9,070
    Ixonia Bank 1 3.50% $7,417
    JPMorgan Chase Bank 1 2.75% $7,955
    KBHS HOME LOANS, LLC 1 4.13% $8,673
    T2 FINANCIAL LLC 1 2.88% $7,806
    COMMUNITYAMERICA 1 2.88% $5,001
    Commerce Home Mortgage, Inc. 1 3.38% $8,272
    LAND HOME FINANCIAL SERVICES, INC. 1 4.00% $11,063
    CLM MORTGAGE, INC 1 3.63% $8,226
    First National Bank of Omaha 1 2.75% $9,817
    LHM FINANCIAL CORPORATION 1 3.50% $7,281
    CHURCHILL MORTGAGE CORPORATION 1 2.88% $6,090
    Hometown Equity Mortgage, LLC 1 4.50% $10,220
    CORNERSTONE MORTGAGE PARTNERS OF TEXAS, L.P. 1 3.25% $8,279

    The top Killeen FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 515 FHA loans originated. Their average total fees are $7,045, which is $74 higher than the next largest lender, DHI MORTGAGE COMPANY, LTD..

    The lowest fee Killeen FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($1,989), Mr. Cooper ( Nationstar Mortgage ) ($3,145), Lakeview Community Capital, LLC ($4,557), LAKEVIEW LOAN SERVICING, LLC ($4,584) and PENNYMAC LOAN SERVICES, LLC ($4,835).

    The lowest rate Killeen FHA lenders (with over 10 loans originated) are UNIVERSITY Federal Credit Union (2.76%), UNITED WHOLESALE MORTGAGE, LLC (2.79%), CALIBER HOME LOANS, INC. (2.83%), QUICKEN LOANS, LLC (2.84%) and VILLAGE CAPITAL & INVESTMENT LLC (2.85%).

    Killeen FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    KILLEEN-TEMPLE, TX BELL 2022 $420,680 $538,650 $651,050 $809,150
    KILLEEN-TEMPLE, TX CORYELL 2022 $420,680 $538,650 $651,050 $809,150
    KILLEEN-TEMPLE, TX LAMPASAS 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Killeen (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 $188,368 (8.0%) $219,920 (8.1%) 0.69 1,529
    2018-02-01 $189,400 (6.7%) $225,465 (7.9%) 0.68 1,523
    2018-03-01 $190,600 (6.2%) $229,376 (9.4%) 0.66 1,537
    2018-04-01 $199,900 (8.1%) $236,100 (10.2%) 0.67 1,510
    2018-05-01 $205,000 (10.7%) $248,214 (14.7%) 0.68 1,508
    2018-06-01 $206,500 (14.8%) $252,973 (17.9%) 0.69 1,587
    2018-07-01 $216,358 (20.3%) $255,773 (20.9%) 0.72 1,584
    2018-08-01 $207,900 (17.2%) $248,454 (20.6%) 0.69 1,633
    2018-09-01 $207,500 (17.3%) $244,910 (16.8%) 0.69 1,710
    2018-10-01 $199,450 (11.3%) $236,053 (12.1%) 0.67 1,681
    2018-11-01 $205,000 (14.4%) $234,815 (11.2%) 0.69 1,591
    2018-12-01 $209,900 (15.4%) $235,474 (10.0%) 0.72 1,524
    2019-01-01 $211,000 (12.0%) $240,642 (9.4%) 0.73 1,467
    2019-02-01 $217,908 (15.1%) $249,302 (10.6%) 0.73 1,395
    2019-03-01 $226,386 (18.8%) $258,719 (12.8%) 0.74 1,356
    2019-04-01 $234,950 (17.5%) $267,219 (13.2%) 0.74 1,336
    2019-05-01 $234,250 (14.3%) $272,407 (9.8%) 0.72 1,323
    2019-06-01 $230,900 (11.8%) $269,832 (6.7%) 0.71 1,413
    2019-07-01 $226,450 (4.7%) $265,196 (3.7%) 0.70 1,518
    2019-08-01 $226,714 (9.1%) $265,725 (7.0%) 0.71 1,495
    2019-09-01 $228,856 (10.3%) $269,110 (9.9%) 0.73 1,471
    2019-10-01 $228,500 (14.6%) $267,101 (13.2%) 0.73 1,511
    2019-11-01 $227,500 (11.0%) $270,383 (15.2%) 0.73 1,526
    2019-12-01 $224,200 (6.8%) $265,370 (12.7%) 0.75 1,457
    2020-01-01 $227,900 (8.0%) $268,107 (11.4%) 0.76 1,375
    2020-02-01 $229,900 (5.5%) $274,927 (10.3%) 0.74 1,329
    2020-03-01 $229,950 (1.6%) $273,909 (5.9%) 0.72 1,385
    2020-04-01 $233,750 (-0.5%) $275,838 (3.2%) 0.73 1,379
    2020-05-01 $242,175 (3.4%) $285,477 (4.8%) 0.73 1,197
    2020-06-01 $247,450 (7.2%) $296,127 (9.7%) 0.72 1,018
    2020-07-01 $249,500 (10.2%) $298,194 (12.4%) 0.71 894
    2020-08-01 $269,500 (18.9%) $323,335 (21.7%) 0.77 830
    2020-09-01 $260,000 (13.6%) $318,191 (18.2%) 0.74 732
    2020-10-01 $252,043 (10.3%) $307,343 (15.1%) 0.72 646
    2020-11-01 $258,212 (13.5%) $312,042 (15.4%) 0.74 617
    2020-12-01 $236,900 (5.7%) $286,029 (7.8%) 0.69 590
    2021-01-01 $245,000 (7.5%) $299,986 (11.9%) 0.72 492
    2021-02-01 $232,513 (1.1%) $301,468 (9.7%) 0.67 388
    2021-03-01 $228,500 (-0.6%) $302,553 (10.5%) 0.64 385
    2021-04-01 $229,338 (-1.9%) $307,221 (11.4%) 0.62 388
    2021-05-01 $225,000 (-7.1%) $302,634 (6.0%) 0.59 393
    2021-06-01 $234,450 (-5.3%) $299,647 (1.2%) 0.61 424
    2021-07-01 $251,000 (0.6%) $312,474 (4.8%) 0.65 525
    2021-08-01 $255,000 (-5.4%) $342,367 (5.9%) 0.67 583
    2021-09-01 $261,000 (0.4%) $348,955 (9.7%) 0.69 569
    2021-10-01 $279,000 (10.7%) $373,769 (21.6%) 0.73 598
    2021-11-01 $281,000 (8.8%) $398,541 (27.7%) 0.74 598
    2021-12-01 $269,950 (14.0%) $399,851 (39.8%) 0.72 569
    2022-01-01 $274,900 (12.2%) $417,470 (39.2%) 0.73 426
    2022-02-01 $278,000 (19.6%) $417,777 (38.6%) 0.71 391
    2022-03-01 $275,450 (20.6%) $420,310 (38.9%) 0.68 398
    2022-04-01 $295,000 (28.6%) $454,161 (47.8%) 0.69 461
    Killeen's median listing price for 2022-04-01 was $295,000, a difference of $65,662 (28.6%) versus the prior year and $19,550 versus the prior month.

    Killeen's median listing price comes in at 69% of the national average.

    Killeen's average listing price for 2022-04-01 was $454,161, a difference of $146,940 (47.8%) versus the prior year and $33,851 versus the prior month.

    For the 2022-04-01 period, Killeen had 461 MLS listings, a difference of 63 listings (16%) versus the prior month and 73 listings (19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Killeen (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 71 days 2,035 sqft
    2018-02-01 68 days 2,055 sqft
    2018-03-01 58 days 2,062 sqft
    2018-04-01 51 days 2,066 sqft
    2018-05-01 49 days 2,070 sqft
    2018-06-01 48 days 2,078 sqft
    2018-07-01 52 days 2,099 sqft
    2018-08-01 52 days 2,071 sqft
    2018-09-01 53 days 2,068 sqft
    2018-10-01 61 days 2,055 sqft
    2018-11-01 67 days 2,082 sqft
    2018-12-01 71 days 2,069 sqft
    2019-01-01 75 days 2,077 sqft
    2019-02-01 72 days 2,097 sqft
    2019-03-01 56 days 2,116 sqft
    2019-04-01 46 days 2,138 sqft
    2019-05-01 45 days 2,150 sqft
    2019-06-01 43 days 2,114 sqft
    2019-07-01 45 days 2,094 sqft
    2019-08-01 52 days 2,104 sqft
    2019-09-01 57 days 2,116 sqft
    2019-10-01 56 days 2,098 sqft
    2019-11-01 56 days 2,114 sqft
    2019-12-01 64 days 2,074 sqft
    2020-01-01 70 days 2,074 sqft
    2020-02-01 59 days 2,063 sqft
    2020-03-01 45 days 2,059 sqft
    2020-04-01 54 days 2,073 sqft
    2020-05-01 66 days 2,114 sqft
    2020-06-01 59 days 2,141 sqft
    2020-07-01 53 days 2,158 sqft
    2020-08-01 45 days 2,175 sqft
    2020-09-01 45 days 2,178 sqft
    2020-10-01 47 days 2,109 sqft
    2020-11-01 39 days 2,075 sqft
    2020-12-01 45 days 1,973 sqft
    2021-01-01 50 days 2,001 sqft
    2021-02-01 45 days 1,960 sqft
    2021-03-01 39 days 1,900 sqft
    2021-04-01 34 days 1,920 sqft
    2021-05-01 34 days 1,890 sqft
    2021-06-01 34 days 1,874 sqft
    2021-07-01 27 days 1,922 sqft
    2021-08-01 28 days 1,885 sqft
    2021-09-01 36 days 1,926 sqft
    2021-10-01 36 days 1,919 sqft
    2021-11-01 37 days 1,941 sqft
    2021-12-01 42 days 1,911 sqft
    2022-01-01 49 days 1,940 sqft
    2022-02-01 33 days 1,905 sqft
    2022-03-01 33 days 1,888 sqft
    2022-04-01 29 days 1,914 sqft
    Killeen's median listing age (time on market) for 2022-04-01 was 29 days. This is -13% shorter than the same period one year ago.

    Killeen's median square footage for active listings during the 2022-04-01 period was 1,914 sqft. One year prior, the average listing was 1,920 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).