Laredo FHA Loan Rates, Closing Costs & Stats

LAREDO, 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.

    Laredo's 58 lenders originated 1,165 FHA loans during 2024. The total origination value was $293,795,000, with an average FHA loan value of $252,185.

    Laredo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Laredo averaged 6.15% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Laredo's average FHA mortgage closing costs are $9,239.

    The average rate for the prior week (2025-03-28) was 6.35% and one month ago for the week of 2025-02-28, the average rate was 6.03%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.42%.

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

    Laredo 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 Laredo level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    PRIMELENDING, A PLAINSCAPITAL COMPANY 186 6.45% $12,675
    FREEDOM MORTGAGE CORPORATION 153 5.87% $14,114
    UNITED WHOLESALE MORTGAGE, LLC 110 5.85% $15,972
    MORTGAGE FINANCIAL SERVICES, LLC 47 6.58% $12,295
    CMG MORTGAGE, INC. 45 6.51% $13,232
    Equity Prime Mortgage LLC 44 6.58% $11,639
    First Option Mortgage, LLC 43 6.28% $13,135
    SUMMIT FUNDING, INC. 39 6.47% $11,328
    THE MORTGAGE LINK, INC. 39 6.36% $17,914
    LEADERONE FINANCIAL CORPORATION 35 6.80% $11,528
    Flagstar Bank, FSB 34 5.79% $11,889
    GUILD MORTGAGE COMPANY 23 6.15% $9,375
    QUICKEN LOANS, LLC 15 6.24% $13,695
    OCMBC, INC. 15 6.46% $14,014
    The Loan Store, Inc. 14 5.72% $15,769
    Paramount Residential Mortgage Group, Inc. 14 6.23% $13,536
    GUARANTEED RATE, INC. 14 6.24% $11,253
    AMERICAN PACIFIC MORTGAGE CORPORATION 13 6.15% $14,823
    CARDINAL FINANCIAL 12 5.52% $12,904
    Gateway First Bank 10 6.08% $12,401
    SOUTHWEST FUNDING, LP 10 6.45% $17,575
    PENNYMAC LOAN SERVICES, LLC 9 6.24% $11,048
    BM Real Estate Services, Inc. 9 6.54% $12,764
    CANOPY MORTGAGE, LLC 8 6.42% $13,635
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 8 6.34% $10,236
    HOMESIDE FINANCIAL, LLC 6 6.38% $16,663
    PLAZA HOME MORTGAGE, INC. 5 5.87% $12,888
    BROKER SOLUTIONS, INC. 5 6.37% $11,715
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 5.44% $11,610
    Plains Commerce Bank 4 6.72% $13,598
    AmeriHome Mortgage Company, LLC 3 6.42% $5,915
    INTERLINC MORTGAGE SERVICES, LLC 3 6.92% $6,236
    MLB RESIDENTIAL LENDING, LLC 3 6.29% $8,981
    NEWREZ LLC 3 6.25% $12,061
    DIRECTIONS EQUITY, LLC 3 6.33% $7,772
    SECURITYNATIONAL MORTGAGE COMPANY 2 6.63% $8,753
    International Bank of Commerce 2 6.81% $11,694
    FIRST COLONY MORTGAGE CORPORATION 2 5.56% $11,726
    NATIONS DIRECT MORTGAGE, LLC 2 5.75% $14,329
    Ixonia Bank 2 6.43% $5,856
    Lakeview Community Capital, LLC 2 6.44% $8,250
    VILLAGE CAPITAL MORTGAGE 2 7.12% $6,909
    Carrington Mortgage Services, LLC 2 6.13% $15,056
    WILLOW BEND MORTGAGE COMPANY, LLC 1 5.75% $18,059
    Capital Bank 1 5.50% $10,905
    CROSSCOUNTRY MORTGAGE, LLC 1 7.50% $12,701
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.38% $10,660
    First United Bank and Trust Company 1 5.88% $19,806
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.63% $11,169
    INTELLILOAN, INC. 1 6.00% $7,479
    JPMorgan Chase Bank 1 6.63% $4,755
    Keystone Funding, Inc. 1 6.63% $15,294
    Loan Simple, Inc. 1 6.49% $17,879
    MID AMERICA MORTGAGE, INC. 1 6.63% $8,144
    PENTAGON FEDERAL CREDIT UNION 1 5.88% $15,746
    PLANET HOME LENDING, LLC 1 2.75% $3,819
    TOWNE MORTGAGE COMPANY 1 5.75% $9,918
    American Mortgage Bank, LLC 1 6.00% $7,938

    The top Laredo FHA lender as defined by loan originations is PRIMELENDING, A PLAINSCAPITAL COMPANY, with 186 FHA loans originated. Their average total fees are $12,675, which is $1,440 lower than the next largest lender, FREEDOM MORTGAGE CORPORATION.

    The lowest fee Laredo FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($9,375), GUARANTEED RATE, INC. ($11,253), SUMMIT FUNDING, INC. ($11,328), LEADERONE FINANCIAL CORPORATION ($11,528) and Equity Prime Mortgage LLC ($11,639).

    The lowest rate Laredo FHA lenders (with over 10 loans originated) are CARDINAL FINANCIAL (5.52%), The Loan Store, Inc. (5.72%), Flagstar Bank, FSB (5.79%), UNITED WHOLESALE MORTGAGE, LLC (5.85%) and FREEDOM MORTGAGE CORPORATION (5.87%).

    Laredo FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Laredo (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 $179,000 (2.3%) $223,122 (4.0%) 0.66 579
    2018-02-01 $179,450 (2.6%) $221,027 (3.0%) 0.65 612
    2018-03-01 $185,000 (3.6%) $223,659 (0.7%) 0.65 599
    2018-04-01 $185,000 (3.4%) $222,707 (-0.3%) 0.63 589
    2018-05-01 $184,900 (2.7%) $221,452 (-3.1%) 0.62 567
    2018-06-01 $185,000 (2.8%) $225,738 (-4.3%) 0.62 578
    2018-07-01 $184,000 (-0.5%) $222,285 (-6.8%) 0.61 612
    2018-08-01 $185,000 (0.0%) $223,233 (-5.1%) 0.62 622
    2018-09-01 $178,000 (-3.7%) $215,780 (-6.6%) 0.60 601
    2018-10-01 $174,575 (-4.2%) $210,596 (-8.7%) 0.59 591
    2018-11-01 $175,450 (-2.5%) $213,128 (-5.5%) 0.59 569
    2018-12-01 $174,000 (-3.3%) $208,680 (-6.7%) 0.60 542
    2019-01-01 $178,500 (-0.3%) $207,982 (-6.8%) 0.62 515
    2019-02-01 $179,250 (-0.1%) $208,654 (-5.6%) 0.61 532
    2019-03-01 $178,857 (-3.3%) $211,874 (-5.3%) 0.58 536
    2019-04-01 $179,807 (-2.8%) $217,539 (-2.3%) 0.57 510
    2019-05-01 $180,000 (-2.7%) $219,709 (-0.8%) 0.56 507
    2019-06-01 $184,900 (-0.1%) $228,665 (1.3%) 0.58 517
    2019-07-01 $189,000 (2.7%) $231,119 (4.0%) 0.59 535
    2019-08-01 $187,909 (1.6%) $228,023 (2.2%) 0.60 550
    2019-09-01 $186,273 (4.7%) $224,909 (4.2%) 0.60 562
    2019-10-01 $185,000 (6.0%) $222,495 (5.7%) 0.60 570
    2019-11-01 $187,000 (6.6%) $222,081 (4.2%) 0.61 552
    2019-12-01 $185,000 (6.3%) $220,637 (5.7%) 0.62 554
    2020-01-01 $185,000 (3.6%) $221,130 (6.3%) 0.62 530
    2020-02-01 $189,000 (5.4%) $225,466 (8.1%) 0.62 551
    2020-03-01 $190,247 (6.4%) $230,862 (9.0%) 0.60 558
    2020-04-01 $198,500 (10.4%) $235,892 (8.4%) 0.62 535
    2020-05-01 $195,450 (8.6%) $230,392 (4.9%) 0.59 489
    2020-06-01 $196,175 (6.1%) $231,591 (1.3%) 0.58 429
    2020-07-01 $199,700 (5.7%) $233,310 (1.0%) 0.58 404
    2020-08-01 $201,000 (7.0%) $232,979 (2.2%) 0.58 372
    2020-09-01 $207,000 (11.1%) $233,470 (3.8%) 0.59 349
    2020-10-01 $199,900 (8.1%) $235,737 (6.0%) 0.57 340
    2020-11-01 $208,550 (11.5%) $245,934 (10.7%) 0.61 287
    2020-12-01 $202,450 (9.4%) $243,336 (10.3%) 0.60 284
    2021-01-01 $200,000 (8.1%) $238,197 (7.7%) 0.60 264
    2021-02-01 $210,250 (11.2%) $233,874 (3.7%) 0.61 294
    2021-03-01 $212,450 (11.7%) $232,264 (0.6%) 0.60 307
    2021-04-01 $205,000 (3.3%) $233,414 (-1.1%) 0.55 297
    2021-05-01 $210,000 (7.4%) $238,520 (3.5%) 0.56 294
    2021-06-01 $215,950 (10.1%) $246,234 (6.3%) 0.57 293
    2021-07-01 $224,900 (12.6%) $254,230 (9.0%) 0.59 273
    2021-08-01 $224,900 (11.9%) $252,892 (8.6%) 0.60 268
    2021-09-01 $224,900 (8.7%) $252,363 (8.1%) 0.60 280
    2021-10-01 $224,900 (12.5%) $259,034 (9.9%) 0.60 278
    2021-11-01 $224,900 (7.8%) $255,294 (3.8%) 0.60 261
    2021-12-01 $225,574 (11.4%) $267,166 (9.8%) 0.61 269
    2022-01-01 $224,950 (12.5%) $269,675 (13.2%) 0.61 259
    2022-02-01 $229,848 (9.3%) $271,844 (16.2%) 0.60 257
    2022-03-01 $229,500 (8.0%) $273,839 (17.9%) 0.57 243
    2022-04-01 $239,000 (16.6%) $277,115 (18.7%) 0.57 247
    2022-05-01 $236,000 (12.4%) $265,212 (11.2%) 0.54 273
    2022-06-01 $239,925 (11.1%) $276,195 (12.2%) 0.53 297
    2022-07-01 $240,000 (6.7%) $279,984 (10.1%) 0.54 344
    2022-08-01 $240,000 (6.7%) $288,299 (14.0%) 0.55 375
    2022-09-01 $240,000 (6.7%) $294,226 (16.6%) 0.56 341
    2022-10-01 $239,950 (6.7%) $282,105 (8.9%) 0.56 352
    2022-11-01 $239,500 (6.5%) $284,188 (11.3%) 0.58 373
    2022-12-01 $238,500 (5.7%) $281,772 (5.5%) 0.59 389
    2023-01-01 $239,450 (6.5%) $279,780 (3.8%) 0.59 393
    2023-02-01 $240,000 (4.4%) $272,394 (0.2%) 0.58 382
    2023-03-01 $239,450 (4.3%) $268,734 (-1.9%) 0.56 395
    2023-04-01 $239,000 (0.0%) $267,747 (-3.4%) 0.56 365
    2023-05-01 $240,000 (1.7%) $281,743 (6.2%) 0.54 361
    2023-06-01 $245,250 (2.2%) $287,869 (4.2%) 0.55 372
    2023-07-01 $246,500 (2.7%) $280,612 (0.2%) 0.56 392
    2023-08-01 $245,250 (2.2%) $288,878 (0.2%) 0.56 417
    2023-09-01 $238,400 (-0.7%) $278,197 (-5.5%) 0.56 417
    2023-10-01 $236,498 (-1.4%) $279,266 (-1.0%) 0.56 431
    2023-11-01 $242,775 (1.4%) $283,121 (-0.4%) 0.58 442
    2023-12-01 $244,950 (2.7%) $286,571 (1.7%) 0.60 426
    2024-01-01 $245,000 (2.3%) $287,636 (2.8%) 0.60 434
    2024-02-01 $237,875 (-0.9%) $278,970 (2.4%) 0.57 425
    2024-03-01 $244,000 (1.9%) $280,120 (4.2%) 0.57 459
    2024-04-01 $249,750 (4.5%) $293,462 (9.6%) 0.58 456
    2024-05-01 $257,750 (7.4%) $302,501 (7.4%) 0.59 474
    2024-06-01 $254,750 (3.9%) $298,106 (3.6%) 0.58 499
    2024-07-01 $254,000 (3.0%) $297,659 (6.1%) 0.58 507
    2024-08-01 $259,000 (5.6%) $313,064 (8.4%) 0.60 515
    2024-09-01 $258,625 (8.5%) $314,399 (13.0%) 0.61 525
    2024-10-01 $257,993 (9.1%) $324,121 (16.1%) 0.61 568
    2024-11-01 $258,245 (6.4%) $330,982 (16.9%) 0.62 611
    2024-12-01 $257,224 (5.0%) $328,801 (14.7%) 0.64 572
    2025-01-01 $261,500 (6.7%) $332,893 (15.7%) 0.65 541
    2025-02-01 $260,000 (9.3%) $337,133 (20.9%) 0.63 537
    2025-03-01 $259,000 (6.2%) $337,238 (20.4%) 0.00 520
    Laredo's median listing price for 2025-03-01 was $259,000, a difference of $15,000 (6.2%) versus the prior year and $-1,000 versus the prior month.

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

    Laredo's average listing price for 2025-03-01 was $337,238, a difference of $57,118 (20.4%) versus the prior year and $105 versus the prior month.

    For the 2025-03-01 period, Laredo had 520 MLS listings, a difference of -17 listings (-3%) versus the prior month and 61 listings (13%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Laredo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 78 days 1,793 sqft
    2018-02-01 74 days 1,786 sqft
    2018-03-01 66 days 1,830 sqft
    2018-04-01 68 days 1,821 sqft
    2018-05-01 65 days 1,799 sqft
    2018-06-01 58 days 1,820 sqft
    2018-07-01 58 days 1,813 sqft
    2018-08-01 59 days 1,828 sqft
    2018-09-01 71 days 1,799 sqft
    2018-10-01 77 days 1,695 sqft
    2018-11-01 73 days 1,702 sqft
    2018-12-01 72 days 1,699 sqft
    2019-01-01 71 days 1,705 sqft
    2019-02-01 62 days 1,703 sqft
    2019-03-01 54 days 1,704 sqft
    2019-04-01 59 days 1,773 sqft
    2019-05-01 56 days 1,804 sqft
    2019-06-01 58 days 1,819 sqft
    2019-07-01 58 days 1,875 sqft
    2019-08-01 56 days 1,834 sqft
    2019-09-01 56 days 1,810 sqft
    2019-10-01 57 days 1,801 sqft
    2019-11-01 67 days 1,813 sqft
    2019-12-01 73 days 1,811 sqft
    2020-01-01 80 days 1,830 sqft
    2020-02-01 72 days 1,866 sqft
    2020-03-01 59 days 1,871 sqft
    2020-04-01 69 days 1,890 sqft
    2020-05-01 77 days 1,858 sqft
    2020-06-01 82 days 1,850 sqft
    2020-07-01 54 days 1,821 sqft
    2020-08-01 45 days 1,812 sqft
    2020-09-01 49 days 1,800 sqft
    2020-10-01 52 days 1,788 sqft
    2020-11-01 59 days 1,782 sqft
    2020-12-01 64 days 1,773 sqft
    2021-01-01 57 days 1,701 sqft
    2021-02-01 36 days 1,654 sqft
    2021-03-01 39 days 1,706 sqft
    2021-04-01 47 days 1,685 sqft
    2021-05-01 57 days 1,700 sqft
    2021-06-01 42 days 1,690 sqft
    2021-07-01 52 days 1,709 sqft
    2021-08-01 57 days 1,705 sqft
    2021-09-01 50 days 1,669 sqft
    2021-10-01 54 days 1,708 sqft
    2021-11-01 51 days 1,702 sqft
    2021-12-01 44 days 1,727 sqft
    2022-01-01 48 days 1,700 sqft
    2022-02-01 39 days 1,703 sqft
    2022-03-01 40 days 1,709 sqft
    2022-04-01 38 days 1,750 sqft
    2022-05-01 37 days 1,726 sqft
    2022-06-01 35 days 1,741 sqft
    2022-07-01 32 days 1,733 sqft
    2022-08-01 40 days 1,742 sqft
    2022-09-01 51 days 1,736 sqft
    2022-10-01 48 days 1,736 sqft
    2022-11-01 52 days 1,736 sqft
    2022-12-01 60 days 1,733 sqft
    2023-01-01 63 days 1,718 sqft
    2023-02-01 46 days 1,701 sqft
    2023-03-01 54 days 1,700 sqft
    2023-04-01 57 days 1,648 sqft
    2023-05-01 54 days 1,673 sqft
    2023-06-01 53 days 1,692 sqft
    2023-07-01 48 days 1,724 sqft
    2023-08-01 47 days 1,761 sqft
    2023-09-01 50 days 1,718 sqft
    2023-10-01 56 days 1,659 sqft
    2023-11-01 60 days 1,687 sqft
    2023-12-01 68 days 1,688 sqft
    2024-01-01 68 days 1,712 sqft
    2024-02-01 63 days 1,669 sqft
    2024-03-01 45 days 1,680 sqft
    2024-04-01 44 days 1,718 sqft
    2024-05-01 59 days 1,753 sqft
    2024-06-01 54 days 1,663 sqft
    2024-07-01 58 days 1,682 sqft
    2024-08-01 66 days 1,701 sqft
    2024-09-01 68 days 1,655 sqft
    2024-10-01 64 days 1,633 sqft
    2024-11-01 67 days 1,656 sqft
    2024-12-01 71 days 1,655 sqft
    2025-01-01 74 days 1,681 sqft
    2025-02-01 75 days 1,715 sqft
    2025-03-01 0 days 1,717 sqft
    Laredo's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Laredo's median square footage for active listings during the 2025-03-01 period was 1,717 sqft. One year prior, the average listing was 1,680 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).