Laredo FHA Loan Rates, Closing Costs & Stats

LAREDO, 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.

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 0.09% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

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

The average rate for the prior week (2025-06-13) was 6.68% and one month ago for the week of 2025-05-16, the average rate was 6.64%.

The average rate one year ago was 6.59%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.06%.

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

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).