Longview FHA Loan Rates, Closing Costs & Stats

LONGVIEW, 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.

    Longview's 104 lenders originated 1,045 FHA loans during 2021. The total origination value was $189,685,000, with an average FHA loan value of $181,517.

    Longview FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Longview averaged 0.04% for the week of 2022-11-25, compared to the national average (all FHA variants) of 0% for the same period.

    Longview's average FHA mortgage closing costs are $7,016.

    The average rate for the prior week (2022-11-18) was 6.46% and one month ago for the week of 2022-10-21, the average rate was 7.17%.

    The average rate one year ago was 3.34%.

    For refis of the same type during the week of 2022-11-25, the average rate was -0.01%.

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

    Longview 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 Longview level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 129 3.26% $8,466
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 87 3.56% $7,808
    QUICKEN LOANS, LLC 83 2.76% $6,309
    SOUTHWEST FUNDING, LP 50 3.51% $10,594
    MORTGAGE FINANCIAL SERVICES, LLC 48 3.15% $8,425
    INTERLINC MORTGAGE SERVICES, LLC 43 3.42% $7,224
    LAKEVIEW LOAN SERVICING, LLC 35 3.11% $4,513
    UNION HOME MORTGAGE CORP. 35 3.20% $7,652
    AMCAP MORTGAGE, LTD. 29 3.35% $8,824
    Mr. Cooper ( Nationstar Mortgage ) 23 3.46% $2,973
    Gateway First Bank 22 3.60% $6,742
    PENNYMAC LOAN SERVICES, LLC 15 3.42% $4,357
    CALIBER HOME LOANS, INC. 15 2.92% $7,812
    VILLAGE CAPITAL MORTGAGE 15 3.25% $2,131
    FREEDOM MORTGAGE CORPORATION 14 2.94% $5,735
    UNITED WHOLESALE MORTGAGE, LLC 10 2.82% $8,077
    STOCKTON MORTGAGE CORPORATION 10 3.91% $8,079
    First Guaranty Mortgage Corporation 10 2.86% $6,312
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 9 3.29% $6,912
    AmeriHome Mortgage Company, LLC 9 2.80% $3,758
    MID AMERICA MORTGAGE, INC. 9 3.43% $5,365
    PRIMARY RESIDENTIAL MORTGAGE, INC. 9 3.65% $7,394
    BancorpSouth Bank 8 3.23% $6,789
    NEWREZ LLC 8 2.89% $4,414
    RESIDENTIAL BANCORP. 8 3.56% $8,479
    PLANET HOME LENDING, LLC 7 2.93% $3,745
    CROSSCOUNTRY MORTGAGE, LLC 7 3.21% $10,238
    Goldwater Bank, N.A. 7 3.21% $7,965
    GUARANTEED RATE, INC. 7 3.02% $8,666
    ASPIRE FINANCIAL, INC. 6 2.67% $8,118
    FINANCE OF AMERICA MORTGAGE LLC 6 3.48% $7,349
    Carrington Mortgage Services, LLC 6 4.15% $6,136
    Guaranty Bank & Trust, N.A. 6 2.81% $7,294
    LOANDEPOT.COM, LLC 5 3.72% $7,652
    SFMC, LP 4 3.97% $8,095
    Paramount Residential Mortgage Group, Inc. 4 3.38% $7,080
    CITY FIRST MORTGAGE SERVICES, L.L.C. 4 3.16% $9,446
    ACADEMY MORTGAGE CORPORATION 4 3.75% $8,627
    COUNTRYPLACE MORTGAGE, LTD. 4 2.78% $11,140
    Nations Lending Corporation 4 3.44% $8,037
    EVERETT FINANCIAL, INC. 4 4.34% $6,771
    U.S. Bank 3 3.50% $6,364
    BROKER SOLUTIONS, INC. 3 3.04% $6,668
    STEARNS LENDING, LLC 3 2.79% $7,612
    Equity Prime Mortgage LLC 3 3.33% $7,826
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 3 3.46% $7,943
    HOME POINT FINANCIAL CORPORATION 3 3.29% $5,850
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 4.17% $6,596
    Hometown Lenders, Inc. 3 3.29% $11,588
    CMG MORTGAGE, INC. 3 3.00% $12,080
    MORIA DEVELOPMENT, INC. 3 3.63% $8,623
    AMERICAN FINANCIAL NETWORK, INC. 3 3.88% $9,282
    AMERICAN FINANCING CORPORATION 3 2.96% $11,163
    MICHIGAN MUTUAL, INC. 2 3.38% $7,521
    GREAT WESTERN FINANCIAL SERVICES, INC. 2 3.44% $9,495
    RANLIFE, INC. 2 2.63% $11,647
    Lakeview Community Capital, LLC 2 2.99% $6,098
    EUSTIS AND AMERICAN MORTGAGE COMPANY 2 3.13% $7,045
    GSF Mortgage Corporation 2 2.88% $15,244
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.31% $6,534
    MOVEMENT MORTGAGE, LLC 2 3.69% $8,440
    PLAZA HOME MORTGAGE, INC. 2 2.94% $8,280
    BAY EQUITY LLC 2 2.94% $7,499
    CHURCHILL MORTGAGE CORPORATION 2 3.56% $8,189
    CORNERSTONE HOME LENDING, INC. 2 3.25% $8,718
    Low VA Rates, LLC 2 2.50% $3,020
    WILLOW BEND MORTGAGE COMPANY, LLC 1 2.63% $54,636
    Barrington Bank & Trust Company, N.A. 1 3.88% $7,160
    BETTER MORTGAGE CORPORATION 1 3.25% $5,382
    BOKF 1 3.63% $8,198
    CERTAINTY HOME LOANS, LLC 1 3.38% $6,085
    City Bank 1 2.38% $7,913
    Commerce Home Mortgage, Inc. 1 2.75% $6,732
    DAS Acquisition Company, LLC 1 3.13% $6,645
    EASTMAN 1 3.75% $5,676
    First Mortgage Solutions, LLC 1 2.50% $7,890
    First National Bank Texas 1 3.50% $7,108
    First State Bank 1 3.50% $7,930
    FirstTrust Home Loans, Inc. 1 4.13% $6,088
    Flagstar Bank, FSB 1 2.25% $7,885
    FLAT BRANCH MORTGAGE, INC. 1 4.13% $10,343
    GENEVA FINANCIAL, LLC 1 3.00% $6,376
    Great Plains National Bank 1 3.13% $5,997
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.75% $4,657
    HOMESIDE FINANCIAL, LLC 1 3.75% $9,363
    INLANTA MORTGAGE, INC. 1 3.75% $8,547
    Loan Simple, Inc. 1 3.75% $5,575
    Mortgage Research Center, LLC 1 3.38% $8,616
    OPEN MORTGAGE, LLC 1 2.75% $7,409
    PANORAMA MORTGAGE GROUP, LLC 1 3.88% $7,114
    Prosperity Bank 1 2.88% $8,899
    RELIANCE FIRST CAPITAL, LLC 1 2.88% $6,809
    Southside Bank 1 2.63% $8,459
    SOUTHWEST STAGE FUNDING, LLC 1 3.75% $3,044
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.25% $8,658
    Stride Bank 1 3.00% $8,684
    SUN WEST MORTGAGE COMPANY, INC. 1 3.25% $5,130
    SWBC MORTGAGE CORPORATION 1 3.88% $8,778
    T2 FINANCIAL LLC 1 3.25% $8,240
    The Home Loan Expert LLC 1 2.88% $7,118
    THRIVE MORTGAGE, LLC 1 2.50% $8,322
    VANDERBILT MORTGAGE AND FINANCE, INC. 1 2.75% $7,202
    V.I.P. MORTGAGE, INC. 1 3.00% $14,938
    WESTSTAR MORTGAGE CORPORATION 1 3.75% $10,351

    The top Longview FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 129 FHA loans originated. Their average total fees are $8,466, which is $658 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Longview FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL MORTGAGE ($2,131), Mr. Cooper ( Nationstar Mortgage ) ($2,973), PENNYMAC LOAN SERVICES, LLC ($4,357), LAKEVIEW LOAN SERVICING, LLC ($4,513) and FREEDOM MORTGAGE CORPORATION ($5,735).

    The lowest rate Longview FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.76%), UNITED WHOLESALE MORTGAGE, LLC (2.82%), First Guaranty Mortgage Corporation (2.86%), CALIBER HOME LOANS, INC. (2.92%) and FREEDOM MORTGAGE CORPORATION (2.94%).

    Longview FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    LONGVIEW, TX GREGG 2022 $420,680 $538,650 $651,050 $809,150
    LONGVIEW, TX HARRISON 2022 $420,680 $538,650 $651,050 $809,150
    LONGVIEW, TX RUSK 2022 $420,680 $538,650 $651,050 $809,150
    LONGVIEW, TX UPSHUR 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Longview (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 $179,125 (5.4%) $242,652 (4.8%) 0.66 1,398
    2018-02-01 $175,000 (0.9%) $238,206 (2.2%) 0.64 1,419
    2018-03-01 $179,900 (2.9%) $244,669 (5.1%) 0.63 1,396
    2018-04-01 $181,225 (2.7%) $246,919 (5.1%) 0.61 1,408
    2018-05-01 $185,500 (3.1%) $247,850 (7.5%) 0.62 1,431
    2018-06-01 $192,700 (7.1%) $259,971 (12.4%) 0.64 1,427
    2018-07-01 $197,975 (10.0%) $260,693 (11.2%) 0.66 1,449
    2018-08-01 $193,900 (7.8%) $255,802 (8.6%) 0.65 1,414
    2018-09-01 $189,900 (5.6%) $255,756 (8.3%) 0.64 1,367
    2018-10-01 $191,375 (6.4%) $258,576 (9.8%) 0.65 1,325
    2018-11-01 $189,925 (5.7%) $258,141 (7.7%) 0.64 1,293
    2018-12-01 $189,900 (5.6%) $259,555 (6.6%) 0.66 1,241
    2019-01-01 $191,250 (6.8%) $261,614 (7.8%) 0.66 1,163
    2019-02-01 $193,125 (10.4%) $264,682 (11.1%) 0.65 1,179
    2019-03-01 $196,000 (9.0%) $268,533 (9.8%) 0.64 1,201
    2019-04-01 $199,250 (10.0%) $270,769 (9.7%) 0.63 1,224
    2019-05-01 $199,000 (7.3%) $275,905 (11.3%) 0.62 1,223
    2019-06-01 $199,000 (3.3%) $271,263 (4.3%) 0.62 1,201
    2019-07-01 $199,900 (1.0%) $267,269 (2.5%) 0.63 1,207
    2019-08-01 $199,900 (3.1%) $267,251 (4.5%) 0.63 1,214
    2019-09-01 $199,900 (5.3%) $266,434 (4.2%) 0.64 1,185
    2019-10-01 $199,700 (4.4%) $265,170 (2.6%) 0.64 1,149
    2019-11-01 $199,500 (5.0%) $262,929 (1.9%) 0.65 1,084
    2019-12-01 $194,700 (2.5%) $255,488 (-1.6%) 0.65 979
    2020-01-01 $194,900 (1.9%) $257,424 (-1.6%) 0.65 884
    2020-02-01 $195,000 (1.0%) $259,836 (-1.8%) 0.64 876
    2020-03-01 $199,250 (1.7%) $270,083 (0.6%) 0.62 832
    2020-04-01 $197,225 (-1.0%) $270,666 (0.0%) 0.62 817
    2020-05-01 $199,900 (0.5%) $280,371 (1.6%) 0.61 789
    2020-06-01 $215,444 (8.3%) $294,481 (8.6%) 0.63 716
    2020-07-01 $224,950 (12.5%) $299,875 (12.2%) 0.65 659
    2020-08-01 $223,500 (11.8%) $304,362 (13.9%) 0.64 641
    2020-09-01 $229,900 (15.0%) $316,777 (18.9%) 0.66 609
    2020-10-01 $228,450 (14.4%) $319,757 (20.6%) 0.65 552
    2020-11-01 $223,000 (11.8%) $315,430 (20.0%) 0.65 527
    2020-12-01 $212,500 (9.1%) $307,373 (20.3%) 0.63 506
    2021-01-01 $209,900 (7.7%) $312,765 (21.5%) 0.63 469
    2021-02-01 $199,900 (2.5%) $323,784 (24.6%) 0.58 388
    2021-03-01 $194,500 (-2.4%) $322,976 (19.6%) 0.55 347
    2021-04-01 $214,900 (9.0%) $323,145 (19.4%) 0.58 338
    2021-05-01 $219,950 (10.0%) $338,253 (20.6%) 0.58 288
    2021-06-01 $239,500 (11.2%) $372,817 (26.6%) 0.63 310
    2021-07-01 $259,950 (15.6%) $379,919 (26.7%) 0.68 405
    2021-08-01 $260,625 (16.6%) $374,465 (23.0%) 0.70 421
    2021-09-01 $262,500 (14.2%) $375,786 (18.6%) 0.70 417
    2021-10-01 $259,988 (13.8%) $380,553 (19.0%) 0.69 374
    2021-11-01 $250,000 (12.1%) $367,956 (16.7%) 0.67 377
    2021-12-01 $250,000 (17.7%) $372,032 (21.0%) 0.68 360
    2022-01-01 $234,500 (11.7%) $362,421 (15.9%) 0.63 309
    2022-02-01 $244,250 (22.2%) $381,770 (17.9%) 0.64 284
    2022-03-01 $274,722 (41.3%) $408,126 (26.4%) 0.69 281
    2022-04-01 $277,700 (29.2%) $387,936 (20.1%) 0.66 267
    2022-05-01 $278,000 (26.4%) $408,802 (20.9%) 0.64 323
    2022-06-01 $304,900 (27.3%) $413,152 (10.8%) 0.68 368
    2022-07-01 $299,000 (15.0%) $402,113 (5.8%) 0.68 446
    2022-08-01 $298,450 (14.5%) $398,877 (6.5%) 0.69 520
    2022-09-01 $299,000 (13.9%) $394,049 (4.9%) 0.70 554
    2022-10-01 $300,000 (15.4%) $395,577 (4.0%) 0.71 555
    Longview's median listing price for 2022-10-01 was $300,000, a difference of $40,012 (15.4%) versus the prior year and $1,000 versus the prior month.

    Longview's median listing price comes in at 71% of the national average.

    Longview's average listing price for 2022-10-01 was $395,577, a difference of $15,024 (4.0%) versus the prior year and $1,528 versus the prior month.

    For the 2022-10-01 period, Longview had 555 MLS listings, a difference of 1 listings (0%) versus the prior month and 181 listings (48%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Longview (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 121 days 2,015 sqft
    2018-02-01 117 days 1,973 sqft
    2018-03-01 103 days 1,994 sqft
    2018-04-01 82 days 2,029 sqft
    2018-05-01 74 days 2,024 sqft
    2018-06-01 74 days 2,046 sqft
    2018-07-01 77 days 2,036 sqft
    2018-08-01 78 days 2,032 sqft
    2018-09-01 88 days 2,021 sqft
    2018-10-01 94 days 2,031 sqft
    2018-11-01 99 days 2,041 sqft
    2018-12-01 102 days 2,017 sqft
    2019-01-01 107 days 2,026 sqft
    2019-02-01 106 days 2,059 sqft
    2019-03-01 93 days 2,074 sqft
    2019-04-01 77 days 2,089 sqft
    2019-05-01 72 days 2,075 sqft
    2019-06-01 68 days 2,057 sqft
    2019-07-01 69 days 2,052 sqft
    2019-08-01 71 days 2,070 sqft
    2019-09-01 75 days 2,085 sqft
    2019-10-01 78 days 2,094 sqft
    2019-11-01 84 days 2,074 sqft
    2019-12-01 88 days 2,029 sqft
    2020-01-01 99 days 2,030 sqft
    2020-02-01 92 days 2,027 sqft
    2020-03-01 73 days 2,031 sqft
    2020-04-01 76 days 2,025 sqft
    2020-05-01 81 days 2,053 sqft
    2020-06-01 85 days 2,129 sqft
    2020-07-01 71 days 2,137 sqft
    2020-08-01 66 days 2,148 sqft
    2020-09-01 67 days 2,159 sqft
    2020-10-01 68 days 2,154 sqft
    2020-11-01 68 days 2,118 sqft
    2020-12-01 69 days 2,047 sqft
    2021-01-01 68 days 2,030 sqft
    2021-02-01 85 days 2,057 sqft
    2021-03-01 77 days 2,049 sqft
    2021-04-01 43 days 2,044 sqft
    2021-05-01 40 days 1,972 sqft
    2021-06-01 33 days 2,046 sqft
    2021-07-01 33 days 2,078 sqft
    2021-08-01 39 days 2,044 sqft
    2021-09-01 43 days 2,055 sqft
    2021-10-01 53 days 2,023 sqft
    2021-11-01 54 days 2,018 sqft
    2021-12-01 51 days 1,983 sqft
    2022-01-01 64 days 1,952 sqft
    2022-02-01 49 days 1,894 sqft
    2022-03-01 35 days 2,053 sqft
    2022-04-01 40 days 2,046 sqft
    2022-05-01 26 days 2,084 sqft
    2022-06-01 34 days 2,145 sqft
    2022-07-01 36 days 2,115 sqft
    2022-08-01 39 days 2,097 sqft
    2022-09-01 46 days 2,103 sqft
    2022-10-01 57 days 2,078 sqft
    Longview's median listing age (time on market) for 2022-10-01 was 57 days. This is 8% longer than the same period one year ago.

    Longview's median square footage for active listings during the 2022-10-01 period was 2,078 sqft. One year prior, the average listing was 2,023 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).