Lufkin FHA Loan Rates, Closing Costs & Stats

Lufkin, 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.

Lufkin's 42 lenders originated 133 FHA loans during 2023. The total origination value was $28,185,000, with an average FHA loan value of $211,917.

Lufkin FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Lufkin averaged 6.75% for the week of 2024-03-22, compared to the national average (all FHA variants) of 6.696% for the same period.

Lufkin's average FHA mortgage closing costs are $8,020.

The average rate for the prior week (2024-03-15) was 6.97% and one month ago for the week of 2024-02-16, the average rate was 6.8%.

The average rate one year ago was 6.68%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.6%.

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

Lufkin 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 Lufkin level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
AMCAP MORTGAGE, LTD. 17 6.87% $9,709
UNITED WHOLESALE MORTGAGE, LLC 12 6.65% $10,526
EUSTIS AND AMERICAN MORTGAGE COMPANY 8 6.72% $10,501
Flagstar Bank, FSB 7 6.29% $11,333
CARDINAL FINANCIAL 7 6.59% $15,123
Commercial Bank of Texas 7 6.64% $8,388
Regions Bank 5 5.90% $12,469
NTFN, INC. 4 7.22% $11,987
Cornerstone First Mortgage, Inc 3 6.75% $8,188
QUICKEN LOANS, LLC 3 6.33% $11,586
Carrington Mortgage Services, LLC 2 6.88% $16,775
Waterstone Mortgage Corporation 2 7.06% $10,092
Bank of England 2 6.00% $11,406
CMG MORTGAGE, INC. 2 7.25% $8,467
AMERICAN FINANCIAL RESOURCES, INC. 2 6.75% $8,951
PLAZA HOME MORTGAGE, INC. 2 7.19% $7,964
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 7.44% $8,969
Southside Bank 2 7.06% $6,991
BancorpSouth 2 6.56% $5,776
The Federal Savings Bank 2 6.75% $9,700
GUILD MORTGAGE COMPANY 2 6.63% $19,236
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.25% $9,731
BECKAM FUNDING CORP. 1 7.75% $14,855
BROKER SOLUTIONS, INC. 1 7.50% $9,747
CALIBER HOME LOANS, INC. 1 5.50% $13,940
CHURCHILL MORTGAGE CORPORATION 1 7.25% $14,509
Colonial Savings, F.A. 1 6.50% $8,046
EVERETT FINANCIAL, INC. 1 7.25% $10,898
First National Bank Texas 1 6.13% $13,694
GUARANTEED RATE, INC. 1 7.00% $13,348
HALLMARK HOME MORTGAGE, LLC 1 7.25% $10,978
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.13% $9,977
LOANDEPOT.COM, LLC 1 7.88% $7,729
MID AMERICA MORTGAGE, INC. 1 8.25% $7,915
MORTGAGE ACCESS CORP. 1 6.75% $16,370
OPEN MORTGAGE, LLC 1 6.75% $8,422
PENTAGON FEDERAL CREDIT UNION 1 6.50% $4,531
PNC Bank 1 7.13% $4,794
T2 FINANCIAL LLC 1 6.75% $17,921
THE MORTGAGE FIRM, INC. 1 6.38% $6,616
TOWNE MORTGAGE COMPANY 1 6.99% $12,264
VAN DYK MORTGAGE CORPORATION 1 7.50% $11,054

The top Lufkin FHA lender as defined by loan originations is AMCAP MORTGAGE, LTD., with 17 FHA loans originated. Their average total fees are $9,709, which is $818 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Lufkin FHA lenders (with over 10 loans originated) are AMCAP MORTGAGE, LTD. ($9,709), UNITED WHOLESALE MORTGAGE, LLC ($10,526), .

The lowest rate Lufkin FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.65%), AMCAP MORTGAGE, LTD. (6.87%), .

Lufkin FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Lufkin (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 $177,450 (11.0%) $246,098 (10.3%) 0.00 276
2018-02-01 $173,350 (8.9%) $242,755 (5.4%) 0.00 276
2018-03-01 $179,900 (12.1%) $245,070 (4.5%) 0.00 258
2018-04-01 $189,175 (18.3%) $251,627 (9.5%) 0.00 251
2018-05-01 $194,405 (18.5%) $259,430 (13.4%) 0.00 251
2018-06-01 $210,000 (29.3%) $267,288 (16.3%) 0.00 260
2018-07-01 $202,450 (19.9%) $266,836 (13.5%) 0.00 271
2018-08-01 $212,200 (21.9%) $268,625 (6.8%) 0.00 261
2018-09-01 $219,900 (22.5%) $274,485 (9.1%) 0.00 250
2018-10-01 $226,225 (29.3%) $282,344 (18.8%) 0.00 240
2018-11-01 $219,450 (29.2%) $277,801 (17.1%) 0.00 238
2018-12-01 $194,900 (14.7%) $264,297 (8.6%) 0.00 265
2019-01-01 $191,950 (8.2%) $254,379 (3.4%) 0.00 260
2019-02-01 $175,980 (1.5%) $239,172 (-1.5%) 0.00 263
2019-03-01 $186,385 (3.6%) $244,782 (-0.1%) 0.00 244
2019-04-01 $200,325 (5.9%) $252,909 (0.5%) 0.00 223
2019-05-01 $215,000 (10.6%) $257,736 (-0.7%) 0.00 227
2019-06-01 $214,900 (2.3%) $266,881 (-0.2%) 0.00 242
2019-07-01 $213,605 (5.5%) $271,746 (1.8%) 0.00 232
2019-08-01 $215,102 (1.4%) $275,312 (2.5%) 0.00 229
2019-09-01 $215,256 (-2.1%) $275,617 (0.4%) 0.00 232
2019-10-01 $219,688 (-2.9%) $275,821 (-2.3%) 0.00 227
2019-11-01 $225,000 (2.5%) $284,186 (2.3%) 0.00 212
2019-12-01 $224,000 (14.9%) $276,538 (4.6%) 0.00 206
2020-01-01 $212,450 (10.7%) $272,798 (7.2%) 0.00 197
2020-02-01 $199,900 (13.6%) $265,236 (10.9%) 0.00 219
2020-03-01 $215,000 (15.4%) $271,006 (10.7%) 0.00 222
2020-04-01 $227,500 (13.6%) $270,036 (6.8%) 0.00 226
2020-05-01 $225,000 (4.7%) $277,302 (7.6%) 0.00 219
2020-06-01 $235,425 (9.6%) $282,298 (5.8%) 0.00 206
2020-07-01 $244,336 (14.4%) $286,873 (5.6%) 0.00 197
2020-08-01 $238,750 (11.0%) $278,701 (1.2%) 0.00 168
2020-09-01 $224,500 (4.3%) $273,790 (-0.7%) 0.00 150
2020-10-01 $245,000 (11.5%) $299,980 (8.8%) 0.00 136
2020-11-01 $254,725 (13.2%) $300,415 (5.7%) 0.00 125
2020-12-01 $245,000 (9.4%) $294,998 (6.7%) 0.00 131
2021-01-01 $233,000 (9.7%) $281,740 (3.3%) 0.00 126
2021-02-01 $217,500 (8.8%) $264,162 (-0.4%) 0.00 126
2021-03-01 $219,925 (2.3%) $274,407 (1.3%) 0.00 111
2021-04-01 $216,200 (-5.0%) $286,977 (6.3%) 0.00 101
2021-05-01 $259,450 (15.3%) $313,028 (12.9%) 0.00 91
2021-06-01 $278,250 (18.2%) $314,968 (11.6%) 0.00 85
2021-07-01 $229,950 (-5.9%) $303,284 (5.7%) 0.00 118
2021-08-01 $247,000 (3.5%) $363,411 (30.4%) 0.00 122
2021-09-01 $241,725 (7.7%) $363,336 (32.7%) 0.00 127
2021-10-01 $253,700 (3.6%) $386,289 (28.8%) 0.00 122
2021-11-01 $276,925 (8.7%) $401,559 (33.7%) 0.00 121
2021-12-01 $271,892 (11.0%) $395,753 (34.2%) 0.00 106
2022-01-01 $269,000 (15.5%) $403,094 (43.1%) 0.00 93
2022-02-01 $278,375 (28.0%) $333,312 (26.2%) 0.00 90
2022-03-01 $279,950 (27.3%) $314,822 (14.7%) 0.00 97
2022-04-01 $308,000 (42.5%) $322,837 (12.5%) 0.00 101
2022-05-01 $280,000 (7.9%) $332,787 (6.3%) 0.00 132
2022-06-01 $272,475 (-2.1%) $304,736 (-3.3%) 0.00 142
2022-07-01 $262,450 (14.1%) $303,714 (0.1%) 0.00 153
2022-08-01 $273,175 (10.6%) $350,021 (-3.7%) 0.00 154
2022-09-01 $291,000 (20.4%) $373,287 (2.7%) 0.00 163
2022-10-01 $293,700 (15.8%) $361,614 (-6.4%) 0.00 190
2022-11-01 $293,750 (6.1%) $384,904 (-4.2%) 0.00 202
2022-12-01 $289,900 (6.6%) $377,479 (-4.6%) 0.00 209
2023-01-01 $280,500 (4.3%) $365,750 (-9.3%) 0.00 202
2023-02-01 $276,500 (-0.7%) $361,839 (8.6%) 0.00 192
2023-03-01 $275,000 (-1.8%) $370,218 (17.6%) 0.00 189
2023-04-01 $287,500 (-6.7%) $381,109 (18.1%) 0.00 182
2023-05-01 $288,250 (3.0%) $364,153 (9.4%) 0.00 181
2023-06-01 $279,000 (2.4%) $344,894 (13.2%) 0.00 194
2023-07-01 $279,000 (6.3%) $343,321 (13.0%) 0.00 202
2023-08-01 $275,375 (0.8%) $336,171 (-4.0%) 0.00 213
2023-09-01 $279,000 (-4.1%) $342,045 (-8.4%) 0.00 218
2023-10-01 $279,700 (-4.8%) $335,085 (-7.3%) 0.00 238
2023-11-01 $272,200 (-7.3%) $324,353 (-15.7%) 0.00 246
2023-12-01 $282,450 (-2.6%) $321,805 (-14.8%) 0.00 250
2024-01-01 $282,500 (0.7%) $320,597 (-12.4%) 0.00 250
2024-02-01 $289,900 (4.9%) $329,374 (-9.0%) 0.00 254
Lufkin's median listing price for 2024-02-01 was $289,900, a difference of $13,400 (4.9%) versus the prior year and $7,400 versus the prior month.

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

Lufkin's average listing price for 2024-02-01 was $329,374, a difference of $-32,465 (-9.0%) versus the prior year and $8,777 versus the prior month.

For the 2024-02-01 period, Lufkin had 254 MLS listings, a difference of 4 listings (2%) versus the prior month and 62 listings (32%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Lufkin (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,988 sqft
2018-02-01 0 days 1,962 sqft
2018-03-01 0 days 1,978 sqft
2018-04-01 0 days 2,032 sqft
2018-05-01 0 days 2,088 sqft
2018-06-01 0 days 2,092 sqft
2018-07-01 0 days 2,055 sqft
2018-08-01 0 days 2,041 sqft
2018-09-01 0 days 2,085 sqft
2018-10-01 0 days 2,112 sqft
2018-11-01 0 days 2,068 sqft
2018-12-01 0 days 1,979 sqft
2019-01-01 0 days 1,938 sqft
2019-02-01 0 days 1,884 sqft
2019-03-01 0 days 1,906 sqft
2019-04-01 0 days 1,955 sqft
2019-05-01 0 days 2,015 sqft
2019-06-01 0 days 2,103 sqft
2019-07-01 0 days 2,108 sqft
2019-08-01 0 days 2,123 sqft
2019-09-01 0 days 2,146 sqft
2019-10-01 0 days 2,178 sqft
2019-11-01 0 days 2,236 sqft
2019-12-01 0 days 2,161 sqft
2020-01-01 0 days 2,051 sqft
2020-02-01 0 days 2,052 sqft
2020-03-01 0 days 2,045 sqft
2020-04-01 0 days 2,039 sqft
2020-05-01 0 days 2,059 sqft
2020-06-01 0 days 2,078 sqft
2020-07-01 0 days 2,088 sqft
2020-08-01 0 days 2,052 sqft
2020-09-01 0 days 1,987 sqft
2020-10-01 0 days 2,123 sqft
2020-11-01 0 days 2,064 sqft
2020-12-01 0 days 1,996 sqft
2021-01-01 0 days 1,996 sqft
2021-02-01 0 days 1,900 sqft
2021-03-01 0 days 1,928 sqft
2021-04-01 0 days 1,935 sqft
2021-05-01 0 days 2,124 sqft
2021-06-01 0 days 2,078 sqft
2021-07-01 0 days 1,738 sqft
2021-08-01 0 days 1,792 sqft
2021-09-01 0 days 1,788 sqft
2021-10-01 0 days 1,980 sqft
2021-11-01 0 days 1,988 sqft
2021-12-01 0 days 1,979 sqft
2022-01-01 0 days 1,968 sqft
2022-02-01 0 days 1,925 sqft
2022-03-01 0 days 1,907 sqft
2022-04-01 0 days 1,965 sqft
2022-05-01 0 days 1,906 sqft
2022-06-01 0 days 1,850 sqft
2022-07-01 0 days 1,814 sqft
2022-08-01 0 days 1,795 sqft
2022-09-01 0 days 1,953 sqft
2022-10-01 0 days 1,951 sqft
2022-11-01 0 days 1,952 sqft
2022-12-01 0 days 1,882 sqft
2023-01-01 0 days 1,864 sqft
2023-02-01 0 days 1,853 sqft
2023-03-01 0 days 1,841 sqft
2023-04-01 0 days 1,857 sqft
2023-05-01 0 days 1,863 sqft
2023-06-01 0 days 1,819 sqft
2023-07-01 0 days 1,823 sqft
2023-08-01 0 days 1,821 sqft
2023-09-01 0 days 1,848 sqft
2023-10-01 0 days 1,829 sqft
2023-11-01 0 days 1,809 sqft
2023-12-01 0 days 1,815 sqft
2024-01-01 0 days 1,800 sqft
2024-02-01 0 days 1,799 sqft
Lufkin's median listing age (time on market) for 2024-02-01 was 0 days.

Lufkin's median square footage for active listings during the 2024-02-01 period was 1,799 sqft. One year prior, the average listing was 1,853 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).