Mount Pleasant FHA Loan Rates, Closing Costs & Stats

Mount Pleasant, 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.

    Mount Pleasant's 29 lenders originated 79 FHA loans during 2023. The total origination value was $16,855,000, with an average FHA loan value of $213,354.

    Mount Pleasant FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Mount Pleasant averaged 6.56% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Mount Pleasant's average FHA mortgage closing costs are $8,642.

    The average rate for the prior week (2025-02-07) was 6.47% and one month ago for the week of 2025-01-10, the average rate was 6.63%.

    The average rate one year ago was 6.46%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.52%.

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

    Mount Pleasant 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 Mount Pleasant level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    DRAPER AND KRAMER MORTGAGE CORP. 9 6.47% $14,989
    T2 FINANCIAL LLC 6 6.48% $12,330
    CMG MORTGAGE, INC. 6 6.75% $10,988
    Guaranty Bank & Trust, N.A. 4 5.97% $7,413
    UNITED WHOLESALE MORTGAGE, LLC 3 5.88% $11,439
    GUILD MORTGAGE COMPANY 3 6.75% $10,787
    Gateway First Bank 2 7.00% $8,094
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.25% $8,638
    QUICKEN LOANS, LLC 2 6.12% $10,592
    LEADERONE FINANCIAL CORPORATION 2 6.69% $10,982
    Nations Lending Corporation 2 7.25% $4,615
    NFM, INC. 1 7.13% $12,185
    OPEN MORTGAGE, LLC 1 7.25% $8,369
    Paramount Residential Mortgage Group, Inc. 1 7.25% $3,050
    PENNYMAC LOAN SERVICES, LLC 1 6.75% $12,799
    Town Square Mortgage & Investments, Inc. 1 7.38% $11,783
    VAN DYK MORTGAGE CORPORATION 1 6.99% $5,242
    American Bank of Oklahoma 1 7.13% $8,675
    ZILLOW HOME LOANS, LLC 1 6.25% $9,362
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $8,908
    Century Mortgage Company DBA Century Lending Company 1 6.63% $7,304
    Citizens Bank 1 6.88% $5,971
    CROSSCOUNTRY MORTGAGE, LLC 1 6.25% $16,815
    EVERETT FINANCIAL, INC. 1 7.25% $8,662
    FIDELITY BANK 1 5.75% $11,770
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.25% $14,439
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.13% $17,523
    MORTGAGE FINANCIAL SERVICES, LLC 1 5.00% $11,012
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $10,187

    The top Mount Pleasant FHA lender as defined by loan originations is DRAPER AND KRAMER MORTGAGE CORP., with 9 FHA loans originated. Their average total fees are $14,989, which is $2,658 higher than the next largest lender, T2 FINANCIAL LLC.

    The lowest fee Mount Pleasant FHA lenders (with over 10 loans originated) are .

    The lowest rate Mount Pleasant FHA lenders (with over 10 loans originated) are .

    Mount Pleasant FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Mount Pleasant (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 $159,900 (6.7%) $285,684 (-0.6%) 0.00 276
    2018-02-01 $162,500 (8.5%) $289,832 (-0.5%) 0.00 282
    2018-03-01 $164,950 (-1.2%) $283,581 (-6.2%) 0.00 312
    2018-04-01 $174,875 (3.6%) $296,019 (-1.4%) 0.00 318
    2018-05-01 $179,925 (13.4%) $299,453 (1.2%) 0.00 338
    2018-06-01 $184,900 (15.6%) $288,505 (1.0%) 0.00 345
    2018-07-01 $179,400 (12.1%) $290,280 (2.4%) 0.00 310
    2018-08-01 $180,000 (6.1%) $296,693 (2.7%) 0.00 295
    2018-09-01 $199,900 (17.8%) $320,862 (10.8%) 0.00 301
    2018-10-01 $195,325 (15.8%) $329,039 (12.3%) 0.00 289
    2018-11-01 $192,425 (20.5%) $336,873 (17.4%) 0.00 271
    2018-12-01 $197,500 (23.5%) $335,190 (18.3%) 0.00 241
    2019-01-01 $201,100 (25.8%) $347,658 (21.7%) 0.00 228
    2019-02-01 $201,100 (23.8%) $346,354 (19.5%) 0.00 220
    2019-03-01 $195,529 (18.5%) $344,515 (21.5%) 0.00 224
    2019-04-01 $184,754 (5.7%) $338,152 (14.2%) 0.00 228
    2019-05-01 $210,000 (16.7%) $356,791 (19.2%) 0.00 231
    2019-06-01 $188,500 (2.0%) $336,034 (16.5%) 0.00 229
    2019-07-01 $179,470 (0.0%) $278,955 (-3.9%) 0.00 213
    2019-08-01 $179,871 (-0.1%) $293,916 (-0.9%) 0.00 204
    2019-09-01 $179,828 (-10.0%) $307,563 (-4.1%) 0.00 197
    2019-10-01 $184,852 (-5.4%) $314,576 (-4.4%) 0.00 188
    2019-11-01 $179,295 (-6.8%) $264,557 (-21.5%) 0.00 171
    2019-12-01 $173,950 (-11.9%) $264,745 (-21.0%) 0.00 157
    2020-01-01 $177,900 (-11.5%) $265,297 (-23.7%) 0.00 151
    2020-02-01 $199,000 (-1.0%) $271,837 (-21.5%) 0.00 167
    2020-03-01 $195,000 (-0.3%) $259,448 (-24.7%) 0.00 168
    2020-04-01 $199,000 (7.7%) $257,280 (-23.9%) 0.00 173
    2020-05-01 $199,900 (-4.8%) $269,555 (-24.5%) 0.00 165
    2020-06-01 $209,900 (11.4%) $282,197 (-16.0%) 0.00 152
    2020-07-01 $209,125 (16.5%) $284,930 (2.1%) 0.00 142
    2020-08-01 $209,900 (16.7%) $283,521 (-3.5%) 0.00 125
    2020-09-01 $217,450 (20.9%) $284,289 (-7.6%) 0.00 117
    2020-10-01 $219,900 (19.0%) $290,940 (-7.5%) 0.00 110
    2020-11-01 $209,225 (16.7%) $300,849 (13.7%) 0.00 105
    2020-12-01 $222,425 (27.9%) $303,179 (14.5%) 0.00 104
    2021-01-01 $235,000 (32.1%) $340,718 (28.4%) 0.00 94
    2021-02-01 $237,625 (19.4%) $400,172 (47.2%) 0.00 88
    2021-03-01 $234,250 (20.1%) $373,447 (43.9%) 0.00 75
    2021-04-01 $232,000 (16.6%) $351,305 (36.6%) 0.00 74
    2021-05-01 $249,999 (25.1%) $373,136 (38.4%) 0.00 73
    2021-06-01 $247,925 (18.1%) $372,468 (32.0%) 0.00 76
    2021-07-01 $242,500 (16.0%) $363,448 (27.6%) 0.00 82
    2021-08-01 $236,200 (12.5%) $337,930 (19.2%) 0.00 103
    2021-09-01 $244,900 (12.6%) $369,046 (29.8%) 0.00 114
    2021-10-01 $249,900 (13.6%) $384,901 (32.3%) 0.00 112
    2021-11-01 $237,450 (13.5%) $355,384 (18.1%) 0.00 103
    2021-12-01 $235,000 (5.7%) $365,653 (20.6%) 0.00 98
    2022-01-01 $244,500 (4.0%) $396,634 (16.4%) 0.00 89
    2022-02-01 $247,475 (4.1%) $410,264 (2.5%) 0.00 87
    2022-03-01 $302,425 (29.1%) $481,211 (28.9%) 0.00 81
    2022-04-01 $314,000 (35.3%) $523,313 (49.0%) 0.00 87
    2022-05-01 $310,000 (24.0%) $489,413 (31.2%) 0.00 106
    2022-06-01 $315,000 (27.1%) $478,879 (28.6%) 0.00 124
    2022-07-01 $319,450 (31.7%) $484,262 (33.2%) 0.00 147
    2022-08-01 $329,950 (39.7%) $476,985 (41.2%) 0.00 162
    2022-09-01 $340,650 (39.1%) $463,255 (25.5%) 0.00 161
    2022-10-01 $265,000 (6.0%) $405,632 (5.4%) 0.00 182
    2022-11-01 $263,400 (10.9%) $399,443 (12.4%) 0.00 178
    2022-12-01 $263,750 (12.2%) $405,475 (10.9%) 0.00 167
    2023-01-01 $267,050 (9.2%) $394,303 (-0.6%) 0.00 166
    2023-02-01 $278,500 (12.5%) $408,128 (-0.5%) 0.00 165
    2023-03-01 $289,600 (-4.2%) $415,686 (-13.6%) 0.00 170
    2023-04-01 $325,000 (3.5%) $491,740 (-6.0%) 0.00 182
    2023-05-01 $327,350 (5.6%) $505,968 (3.4%) 0.00 194
    2023-06-01 $337,750 (7.2%) $500,438 (4.5%) 0.00 203
    2023-07-01 $329,450 (3.1%) $493,747 (2.0%) 0.00 218
    2023-08-01 $315,000 (-4.5%) $467,047 (-2.1%) 0.00 228
    2023-09-01 $307,400 (-9.8%) $452,149 (-2.4%) 0.00 220
    2023-10-01 $325,000 (22.6%) $436,963 (7.7%) 0.00 216
    2023-11-01 $329,225 (25.0%) $446,004 (11.7%) 0.00 207
    2023-12-01 $324,900 (23.2%) $441,385 (8.9%) 0.00 201
    2024-01-01 $294,450 (10.3%) $422,706 (7.2%) 0.00 205
    2024-02-01 $285,000 (2.3%) $424,889 (4.1%) 0.00 216
    2024-03-01 $289,900 (0.1%) $433,952 (4.4%) 0.00 224
    2024-04-01 $299,575 (-7.8%) $437,955 (-10.9%) 0.00 240
    2024-05-01 $304,850 (-6.9%) $438,339 (-13.4%) 0.00 259
    2024-06-01 $311,950 (-7.6%) $436,299 (-12.8%) 0.00 268
    2024-07-01 $294,250 (-10.7%) $434,148 (-12.1%) 0.00 269
    2024-08-01 $299,900 (-4.8%) $414,728 (-11.2%) 0.00 263
    2024-09-01 $299,900 (-2.4%) $426,486 (-5.7%) 0.00 258
    2024-10-01 $299,675 (-7.8%) $410,158 (-6.1%) 0.00 256
    2024-11-01 $279,000 (-15.3%) $384,413 (-13.8%) 0.00 283
    2024-12-01 $277,500 (-14.6%) $376,728 (-14.7%) 0.00 287
    2025-01-01 $275,000 (-6.6%) $368,433 (-12.8%) 0.00 269
    Mount Pleasant's median listing price for 2025-01-01 was $275,000, a difference of $-19,450 (-6.6%) versus the prior year and $-2,500 versus the prior month.

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

    Mount Pleasant's average listing price for 2025-01-01 was $368,433, a difference of $-54,273 (-12.8%) versus the prior year and $-8,295 versus the prior month.

    For the 2025-01-01 period, Mount Pleasant had 269 MLS listings, a difference of -18 listings (-6%) versus the prior month and 64 listings (31%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Mount Pleasant (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,983 sqft
    2018-02-01 0 days 2,021 sqft
    2018-03-01 0 days 1,972 sqft
    2018-04-01 0 days 2,001 sqft
    2018-05-01 0 days 2,000 sqft
    2018-06-01 0 days 2,023 sqft
    2018-07-01 0 days 2,013 sqft
    2018-08-01 0 days 2,028 sqft
    2018-09-01 0 days 2,160 sqft
    2018-10-01 0 days 2,139 sqft
    2018-11-01 0 days 2,119 sqft
    2018-12-01 0 days 2,115 sqft
    2019-01-01 0 days 2,113 sqft
    2019-02-01 0 days 2,135 sqft
    2019-03-01 0 days 2,095 sqft
    2019-04-01 0 days 2,072 sqft
    2019-05-01 0 days 2,140 sqft
    2019-06-01 0 days 2,122 sqft
    2019-07-01 0 days 2,073 sqft
    2019-08-01 0 days 2,077 sqft
    2019-09-01 0 days 2,065 sqft
    2019-10-01 0 days 2,075 sqft
    2019-11-01 0 days 2,070 sqft
    2019-12-01 0 days 2,121 sqft
    2020-01-01 0 days 2,120 sqft
    2020-02-01 0 days 2,124 sqft
    2020-03-01 0 days 2,039 sqft
    2020-04-01 0 days 2,019 sqft
    2020-05-01 0 days 2,050 sqft
    2020-06-01 0 days 2,124 sqft
    2020-07-01 0 days 2,148 sqft
    2020-08-01 0 days 2,159 sqft
    2020-09-01 0 days 2,088 sqft
    2020-10-01 0 days 2,064 sqft
    2020-11-01 0 days 2,050 sqft
    2020-12-01 0 days 2,073 sqft
    2021-01-01 0 days 2,180 sqft
    2021-02-01 0 days 2,202 sqft
    2021-03-01 0 days 2,155 sqft
    2021-04-01 0 days 2,266 sqft
    2021-05-01 0 days 2,196 sqft
    2021-06-01 0 days 2,050 sqft
    2021-07-01 0 days 2,030 sqft
    2021-08-01 0 days 1,992 sqft
    2021-09-01 0 days 1,910 sqft
    2021-10-01 0 days 1,970 sqft
    2021-11-01 0 days 1,950 sqft
    2021-12-01 0 days 1,985 sqft
    2022-01-01 0 days 2,000 sqft
    2022-02-01 0 days 1,989 sqft
    2022-03-01 0 days 1,986 sqft
    2022-04-01 0 days 1,920 sqft
    2022-05-01 0 days 1,961 sqft
    2022-06-01 0 days 1,966 sqft
    2022-07-01 0 days 2,000 sqft
    2022-08-01 0 days 1,994 sqft
    2022-09-01 0 days 2,042 sqft
    2022-10-01 0 days 1,753 sqft
    2022-11-01 0 days 1,795 sqft
    2022-12-01 0 days 1,800 sqft
    2023-01-01 0 days 1,798 sqft
    2023-02-01 0 days 1,794 sqft
    2023-03-01 0 days 1,881 sqft
    2023-04-01 0 days 2,041 sqft
    2023-05-01 0 days 1,989 sqft
    2023-06-01 0 days 2,024 sqft
    2023-07-01 0 days 2,029 sqft
    2023-08-01 0 days 2,070 sqft
    2023-09-01 0 days 2,023 sqft
    2023-10-01 0 days 1,979 sqft
    2023-11-01 0 days 1,977 sqft
    2023-12-01 0 days 1,987 sqft
    2024-01-01 0 days 1,975 sqft
    2024-02-01 0 days 1,931 sqft
    2024-03-01 0 days 1,942 sqft
    2024-04-01 0 days 1,946 sqft
    2024-05-01 0 days 1,950 sqft
    2024-06-01 0 days 1,960 sqft
    2024-07-01 0 days 1,952 sqft
    2024-08-01 0 days 1,939 sqft
    2024-09-01 0 days 1,917 sqft
    2024-10-01 0 days 1,885 sqft
    2024-11-01 0 days 1,806 sqft
    2024-12-01 0 days 1,765 sqft
    2025-01-01 0 days 1,764 sqft
    Mount Pleasant's median listing age (time on market) for 2025-01-01 was 0 days.

    Mount Pleasant's median square footage for active listings during the 2025-01-01 period was 1,764 sqft. One year prior, the average listing was 1,975 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).