Longview FHA Loans

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 5.3% 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 5.53% and one month ago for the week of 2022-04-08, the average rate was 5.1%.

    The average rate one year ago was 3.5%.

    For refis of the same type during the week of 2022-05-13, the average rate was 4.95%.

    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 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. Total Fees
    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 & INVESTMENT LLC 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 & INVESTMENT LLC ($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 $185,750 (8.3%) $252,185 (8.2%) 0.68 1,349
    2018-02-01 $182,500 (4.3%) $248,431 (5.3%) 0.66 1,355
    2018-03-01 $185,000 (5.7%) $251,878 (7.1%) 0.64 1,317
    2018-04-01 $188,990 (5.9%) $252,370 (5.8%) 0.63 1,314
    2018-05-01 $189,450 (5.3%) $249,336 (7.4%) 0.63 1,324
    2018-06-01 $195,000 (7.7%) $263,352 (13.2%) 0.65 1,340
    2018-07-01 $199,250 (8.9%) $265,393 (11.8%) 0.66 1,358
    2018-08-01 $195,950 (6.0%) $263,297 (9.6%) 0.65 1,312
    2018-09-01 $190,000 (2.8%) $261,618 (7.8%) 0.64 1,281
    2018-10-01 $194,900 (5.5%) $265,873 (9.4%) 0.65 1,259
    2018-11-01 $195,000 (5.3%) $271,773 (8.4%) 0.65 1,227
    2018-12-01 $191,000 (1.1%) $273,100 (8.0%) 0.65 1,170
    2019-01-01 $194,000 (4.4%) $272,595 (8.1%) 0.67 1,104
    2019-02-01 $198,400 (8.7%) $274,493 (10.5%) 0.66 1,138
    2019-03-01 $198,800 (7.5%) $279,055 (10.8%) 0.65 1,172
    2019-04-01 $200,000 (5.8%) $282,261 (11.8%) 0.63 1,215
    2019-05-01 $199,900 (5.5%) $284,875 (14.3%) 0.62 1,202
    2019-06-01 $199,900 (2.5%) $285,521 (8.4%) 0.62 1,161
    2019-07-01 $199,900 (0.3%) $275,633 (3.9%) 0.62 1,159
    2019-08-01 $202,814 (3.5%) $277,674 (5.5%) 0.64 1,153
    2019-09-01 $199,700 (5.1%) $277,360 (6.0%) 0.63 1,121
    2019-10-01 $199,000 (2.1%) $274,467 (3.2%) 0.63 1,110
    2019-11-01 $198,900 (2.0%) $273,257 (0.6%) 0.64 1,047
    2019-12-01 $196,450 (2.9%) $266,468 (-2.4%) 0.65 953
    2020-01-01 $196,200 (1.1%) $271,699 (-0.3%) 0.65 867
    2020-02-01 $199,000 (0.3%) $279,570 (1.9%) 0.64 842
    2020-03-01 $202,450 (1.8%) $288,345 (3.3%) 0.63 829
    2020-04-01 $200,000 (0.0%) $289,756 (2.7%) 0.62 824
    2020-05-01 $209,500 (4.8%) $298,726 (4.9%) 0.63 791
    2020-06-01 $227,450 (13.8%) $314,225 (10.1%) 0.66 708
    2020-07-01 $232,500 (16.3%) $318,858 (15.7%) 0.67 650
    2020-08-01 $229,000 (12.9%) $328,015 (18.1%) 0.65 634
    2020-09-01 $240,950 (20.7%) $349,171 (25.9%) 0.69 615
    2020-10-01 $230,000 (15.6%) $345,884 (26.0%) 0.66 552
    2020-11-01 $235,000 (18.2%) $349,250 (27.8%) 0.67 520
    2020-12-01 $226,250 (15.2%) $351,051 (31.7%) 0.66 488
    2021-01-01 $224,900 (14.6%) $353,838 (30.2%) 0.66 448
    2021-02-01 $217,200 (9.2%) $358,485 (28.2%) 0.62 371
    2021-03-01 $224,900 (11.1%) $370,942 (28.6%) 0.63 328
    2021-04-01 $232,450 (16.2%) $372,198 (28.5%) 0.62 327
    2021-05-01 $245,000 (17.0%) $384,735 (28.8%) 0.64 270
    2021-06-01 $254,860 (12.1%) $418,817 (33.3%) 0.66 308
    2021-07-01 $277,452 (19.3%) $402,860 (26.3%) 0.72 382
    2021-08-01 $270,500 (18.1%) $392,589 (19.7%) 0.71 419
    2021-09-01 $280,000 (16.2%) $410,238 (17.5%) 0.74 406
    2021-10-01 $286,450 (24.5%) $415,499 (20.1%) 0.75 357
    2021-11-01 $266,000 (13.2%) $401,596 (15.0%) 0.70 374
    2021-12-01 $264,950 (17.1%) $406,834 (15.9%) 0.71 357
    2022-01-01 $259,900 (15.6%) $405,224 (14.5%) 0.69 307
    2022-02-01 $268,400 (23.6%) $441,674 (23.2%) 0.68 283
    2022-03-01 $284,950 (26.7%) $451,203 (21.6%) 0.70 281
    2022-04-01 $289,500 (24.5%) $404,431 (8.7%) 0.68 268
    Longview's median listing price for 2022-04-01 was $289,500, a difference of $57,050 (24.5%) versus the prior year and $4,550 versus the prior month.

    Longview's median listing price comes in at 68% of the national average.

    Longview's average listing price for 2022-04-01 was $404,431, a difference of $32,233 (8.7%) versus the prior year and $-46,772 versus the prior month.

    For the 2022-04-01 period, Longview had 268 MLS listings, a difference of -13 listings (-5%) versus the prior month and -59 listings (-18%) 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
    2018-01-01 117 days 2,062 sqft
    2018-02-01 115 days 2,034 sqft
    2018-03-01 103 days 2,049 sqft
    2018-04-01 83 days 2,062 sqft
    2018-05-01 75 days 2,057 sqft
    2018-06-01 75 days 2,100 sqft
    2018-07-01 79 days 2,087 sqft
    2018-08-01 79 days 2,071 sqft
    2018-09-01 89 days 2,064 sqft
    2018-10-01 93 days 2,072 sqft
    2018-11-01 96 days 2,087 sqft
    2018-12-01 100 days 2,064 sqft
    2019-01-01 105 days 2,068 sqft
    2019-02-01 101 days 2,088 sqft
    2019-03-01 87 days 2,116 sqft
    2019-04-01 72 days 2,144 sqft
    2019-05-01 74 days 2,113 sqft
    2019-06-01 71 days 2,100 sqft
    2019-07-01 70 days 2,100 sqft
    2019-08-01 72 days 2,103 sqft
    2019-09-01 75 days 2,107 sqft
    2019-10-01 78 days 2,128 sqft
    2019-11-01 78 days 2,118 sqft
    2019-12-01 84 days 2,099 sqft
    2020-01-01 96 days 2,099 sqft
    2020-02-01 93 days 2,097 sqft
    2020-03-01 69 days 2,101 sqft
    2020-04-01 71 days 2,100 sqft
    2020-05-01 75 days 2,106 sqft
    2020-06-01 85 days 2,226 sqft
    2020-07-01 72 days 2,225 sqft
    2020-08-01 67 days 2,208 sqft
    2020-09-01 64 days 2,218 sqft
    2020-10-01 65 days 2,172 sqft
    2020-11-01 70 days 2,190 sqft
    2020-12-01 66 days 2,139 sqft
    2021-01-01 67 days 2,097 sqft
    2021-02-01 90 days 2,141 sqft
    2021-03-01 80 days 2,158 sqft
    2021-04-01 36 days 2,155 sqft
    2021-05-01 43 days 2,078 sqft
    2021-06-01 37 days 2,240 sqft
    2021-07-01 35 days 2,236 sqft
    2021-08-01 37 days 2,049 sqft
    2021-09-01 44 days 2,117 sqft
    2021-10-01 50 days 2,091 sqft
    2021-11-01 48 days 2,089 sqft
    2021-12-01 49 days 2,021 sqft
    2022-01-01 62 days 1,997 sqft
    2022-02-01 50 days 1,976 sqft
    2022-03-01 38 days 2,126 sqft
    2022-04-01 40 days 2,116 sqft
    Longview's median listing age (time on market) for 2022-04-01 was 40 days. This is 11% longer than the same period one year ago.

    Longview's median square footage for active listings during the 2022-04-01 period was 2,116 sqft. One year prior, the average listing was 2,155 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).