Longview FHA Loans
LONGVIEW, 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.
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%.
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.
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. LouisDate | 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 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. LouisDate | 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 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.