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
6.05%
for the week of 2022-09-23, compared to the national average (all FHA variants) of
6.08% for the same period.
The average rate for the prior week (2022-09-16) was
5.95% and
one month ago for the week of 2022-08-19, the
average rate was 5.27%.
The average rate one year ago was 3.31%.
For refis of the same type during the week of 2022-09-23, the average rate
was 5.47%.
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.
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 MORTGAGE ($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 MORTGAGE (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 |
| 2022-05-01 | $310,000 (37.8%) | $454,633 (50.2%) | 0.69 | 598 |
| 2022-06-01 | $319,176 (36.1%) | $462,977 (54.5%) | 0.71 | 815 |
| 2022-07-01 | $315,000 (25.5%) | $450,283 (44.1%) | 0.70 | 1,036 |
| 2022-08-01 | $315,500 (23.7%) | $432,831 (26.4%) | 0.73 | 1,361 |
Killeen's median listing price comes in at 73% of the national average.
Killeen's average listing price for 2022-08-01 was $432,831, a difference of $90,464 (26.4%) versus the prior year and $-17,452 versus the prior month.
For the 2022-08-01 period, Killeen had 1,361 MLS listings, a difference of 325 listings (31%) versus the prior month and 778 listings (133%) 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 |
| 2022-05-01 | 26 days | 1,954 sqft |
| 2022-06-01 | 27 days | 1,997 sqft |
| 2022-07-01 | 30 days | 1,996 sqft |
| 2022-08-01 | 32 days | 1,996 sqft |
Killeen's median square footage for active listings during the 2022-08-01 period was 1,996 sqft. One year prior, the average listing was 1,885 sqft.
