Killeen FHA Loans

KILLEEN-TEMPLE, 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.

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).