Paris FHA Loan Rates, Closing Costs & Stats

Paris, 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.

Paris's 39 lenders originated 122 FHA loans during 2022. The total origination value was $25,740,000, with an average FHA loan value of $210,984.

Paris FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Paris averaged -0.23% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

Paris's average FHA mortgage closing costs are $7,318.

The average rate for the prior week (2024-02-16) was 6.1% and one month ago for the week of 2024-01-19, the average rate was 6.15%.

The average rate one year ago was 6.01%.

For refis of the same type during the week of 2024-02-23, the average rate was -0.2%.

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

Paris 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 Paris level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
CERTAINTY HOME LOANS, LLC 15 4.84% $8,368
GUILD MORTGAGE COMPANY 13 4.89% $10,785
QUICKEN LOANS, LLC 10 4.62% $12,024
FREEDOM MORTGAGE CORPORATION 8 4.80% $9,261
EVERETT FINANCIAL, INC. 6 5.06% $7,238
Farmers Bank & Trust Company 6 4.52% $10,199
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 6.35% $10,327
Guaranty Bank & Trust, N.A. 5 4.73% $6,632
Nations Lending Corporation 4 4.94% $9,094
SFMC, LP 4 5.50% $10,907
AMCAP MORTGAGE, LTD. 3 5.46% $10,881
ASPIRE FINANCIAL, INC. 2 5.25% $6,963
Citizens Bank 2 5.00% $9,925
CARDINAL FINANCIAL 2 5.00% $13,712
OPEN MORTGAGE, LLC 1 4.00% $13,552
PENNYMAC LOAN SERVICES, LLC 1 2.75% $5,660
PLANET HOME LENDING, LLC 1 2.75% $5,784
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 6.00% $9,289
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 3.13% $8,233
S1L, Inc. 1 4.63% $14,129
SOUTHWEST FUNDING, LP 1 6.13% $8,040
SUN WEST MORTGAGE COMPANY, INC. 1 5.38% $9,478
T2 FINANCIAL LLC 1 4.63% $13,014
UNITED WHOLESALE MORTGAGE, LLC 1 2.88% $11,264
ACADEMY MORTGAGE CORPORATION 1 4.25% $7,790
VILLAGE CAPITAL MORTGAGE 1 2.75% $2,706
Bank of England 1 6.25% $8,644
CALCON MUTUAL MORTGAGE LLC 1 5.38% $22,195
CALIBER HOME LOANS, INC. 1 5.25% $11,764
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 4.00% $7,483
F & M Bank 1 3.88% $10,841
Gateway First Bank 1 7.25% $8,522
GUARANTEED RATE, INC. 1 5.25% $8,806
HOME POINT FINANCIAL CORPORATION 1 3.88% $6,060
INTEGRITY MORTGAGE CORPORATION OF TEXAS 1 3.25% $8,807
LOANDEPOT.COM, LLC 1 3.88% $11,338
Midwest Mortgage Associates Corporation 1 6.25% $3,870
MLD MORTGAGE INC. 1 2.88% $7,136
Mr. Cooper ( Nationstar Mortgage ) 1 4.75% $21,080

The top Paris FHA lender as defined by loan originations is CERTAINTY HOME LOANS, LLC, with 15 FHA loans originated. Their average total fees are $8,368, which is $2,416 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Paris FHA lenders (with over 10 loans originated) are CERTAINTY HOME LOANS, LLC ($8,368), GUILD MORTGAGE COMPANY ($10,785), QUICKEN LOANS, LLC ($12,024), .

The lowest rate Paris FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.62%), CERTAINTY HOME LOANS, LLC (4.84%), GUILD MORTGAGE COMPANY (4.89%), .

Paris FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Paris (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 $161,538 (19.0%) $210,062 (12.4%) 0.00 217
2018-02-01 $157,675 (17.8%) $199,231 (6.3%) 0.00 221
2018-03-01 $162,000 (22.3%) $210,601 (12.3%) 0.00 217
2018-04-01 $170,425 (38.3%) $218,167 (21.1%) 0.00 211
2018-05-01 $176,925 (26.6%) $225,634 (7.9%) 0.00 218
2018-06-01 $164,950 (18.4%) $200,492 (2.8%) 0.00 231
2018-07-01 $162,450 (13.4%) $199,101 (2.9%) 0.00 251
2018-08-01 $165,000 (10.6%) $208,632 (6.3%) 0.00 258
2018-09-01 $169,900 (10.1%) $216,720 (7.3%) 0.00 259
2018-10-01 $169,900 (4.4%) $216,771 (2.6%) 0.00 283
2018-11-01 $169,600 (7.1%) $210,483 (2.5%) 0.00 271
2018-12-01 $159,900 (0.0%) $204,124 (0.1%) 0.00 245
2019-01-01 $150,750 (-6.7%) $200,487 (-1.5%) 0.00 239
2019-02-01 $157,925 (-3.3%) $203,741 (4.6%) 0.00 234
2019-03-01 $160,350 (-0.2%) $201,049 (-3.7%) 0.00 231
2019-04-01 $164,725 (1.7%) $205,201 (-6.2%) 0.00 230
2019-05-01 $184,975 (5.4%) $218,679 (-2.4%) 0.00 250
2019-06-01 $169,500 (0.1%) $209,274 (2.0%) 0.00 263
2019-07-01 $175,075 (8.9%) $216,313 (4.3%) 0.00 265
2019-08-01 $186,087 (7.8%) $221,390 (1.3%) 0.00 263
2019-09-01 $187,726 (8.5%) $220,598 (2.0%) 0.00 257
2019-10-01 $189,000 (7.6%) $221,822 (2.5%) 0.00 251
2019-11-01 $174,700 (-1.7%) $213,108 (-0.4%) 0.00 245
2019-12-01 $166,500 (0.9%) $206,504 (-4.4%) 0.00 235
2020-01-01 $171,750 (10.3%) $219,519 (4.4%) 0.00 204
2020-02-01 $174,900 (8.7%) $231,705 (5.7%) 0.00 195
2020-03-01 $168,948 (2.4%) $237,081 (12.0%) 0.00 187
2020-04-01 $167,035 (-7.0%) $229,317 (6.7%) 0.00 175
2020-05-01 $167,000 (-10.7%) $221,314 (-4.7%) 0.00 158
2020-06-01 $176,200 (11.5%) $225,411 (4.9%) 0.00 144
2020-07-01 $186,250 (5.7%) $223,233 (2.0%) 0.00 143
2020-08-01 $179,900 (-2.5%) $216,417 (1.0%) 0.00 110
2020-09-01 $193,250 (16.2%) $226,717 (7.9%) 0.00 106
2020-10-01 $191,500 (15.5%) $229,563 (8.4%) 0.00 120
2020-11-01 $192,425 (20.0%) $248,338 (22.9%) 0.00 116
2020-12-01 $174,950 (4.9%) $231,745 (20.7%) 0.00 108
2021-01-01 $174,900 (2.8%) $232,808 (15.0%) 0.00 100
2021-02-01 $158,863 (-0.7%) $218,872 (14.9%) 0.00 98
2021-03-01 $167,450 (21.5%) $224,186 (19.7%) 0.00 81
2021-04-01 $174,900 (29.1%) $232,434 (25.9%) 0.00 69
2021-05-01 $189,900 (23.9%) $243,727 (26.0%) 0.00 69
2021-06-01 $192,000 (1.6%) $235,804 (10.2%) 0.00 85
2021-07-01 $189,900 (3.1%) $259,991 (23.0%) 0.00 84
2021-08-01 $205,900 (25.6%) $258,716 (21.9%) 0.00 95
2021-09-01 $243,325 (13.2%) $285,240 (24.2%) 0.00 120
2021-10-01 $238,000 (13.8%) $281,800 (19.0%) 0.00 131
2021-11-01 $223,975 (13.1%) $293,133 (16.3%) 0.00 111
2021-12-01 $219,750 (38.1%) $303,208 (29.1%) 0.00 107
2022-01-01 $247,450 (45.2%) $320,800 (30.9%) 0.00 108
2022-02-01 $234,900 (35.4%) $317,227 (24.3%) 0.00 97
2022-03-01 $272,450 (30.4%) $347,283 (28.3%) 0.00 95
2022-04-01 $252,450 (18.5%) $357,456 (30.6%) 0.00 106
2022-05-01 $257,825 (28.1%) $384,751 (50.8%) 0.00 117
2022-06-01 $241,225 (27.4%) $344,987 (45.8%) 0.00 140
2022-07-01 $241,400 (32.9%) $330,777 (32.6%) 0.00 163
2022-08-01 $228,495 (2.3%) $304,088 (17.4%) 0.00 191
2022-09-01 $225,000 (-5.7%) $308,892 (9.1%) 0.00 197
2022-10-01 $219,500 (-9.8%) $294,886 (2.0%) 0.00 224
2022-11-01 $215,000 (-7.3%) $303,599 (-2.5%) 0.00 232
2022-12-01 $222,500 (-7.4%) $310,393 (-1.9%) 0.00 226
2023-01-01 $235,225 (-5.7%) $315,631 (-3.6%) 0.00 214
2023-02-01 $247,475 (10.0%) $334,440 (7.5%) 0.00 215
2023-03-01 $256,250 (-5.6%) $341,818 (-4.2%) 0.00 210
2023-04-01 $260,000 (3.9%) $355,775 (-4.6%) 0.00 209
2023-05-01 $274,175 (3.1%) $364,471 (-10.2%) 0.00 198
2023-06-01 $277,475 (12.9%) $358,538 (-0.4%) 0.00 204
2023-07-01 $260,000 (-1.1%) $346,142 (-5.0%) 0.00 226
2023-08-01 $259,000 (11.4%) $359,524 (13.8%) 0.00 234
2023-09-01 $254,000 (14.7%) $358,859 (11.5%) 0.00 242
2023-10-01 $249,975 (14.9%) $360,422 (22.6%) 0.00 244
2023-11-01 $248,500 (11.4%) $351,242 (15.5%) 0.00 257
2023-12-01 $248,500 (0.0%) $354,814 (0.0%) 0.00 257
Paris's median listing price for 2023-12-01 was $248,500, a difference of $26,000 (0.0%) versus the prior year and $0 versus the prior month.

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

Paris's average listing price for 2023-12-01 was $354,814, a difference of $44,421 (0.0%) versus the prior year and $3,572 versus the prior month.

For the 2023-12-01 period, Paris had 257 MLS listings, a difference of 0 listings (0%) versus the prior month and 31 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Paris (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 2,082 sqft
2018-02-01 0 days 2,029 sqft
2018-03-01 0 days 2,122 sqft
2018-04-01 0 days 2,259 sqft
2018-05-01 0 days 2,394 sqft
2018-06-01 0 days 2,249 sqft
2018-07-01 0 days 2,169 sqft
2018-08-01 0 days 2,208 sqft
2018-09-01 0 days 2,165 sqft
2018-10-01 0 days 2,059 sqft
2018-11-01 0 days 2,023 sqft
2018-12-01 0 days 2,006 sqft
2019-01-01 0 days 1,926 sqft
2019-02-01 0 days 1,976 sqft
2019-03-01 0 days 1,993 sqft
2019-04-01 0 days 1,984 sqft
2019-05-01 0 days 2,067 sqft
2019-06-01 0 days 1,994 sqft
2019-07-01 0 days 2,031 sqft
2019-08-01 0 days 2,161 sqft
2019-09-01 0 days 2,211 sqft
2019-10-01 0 days 2,272 sqft
2019-11-01 0 days 2,201 sqft
2019-12-01 0 days 2,159 sqft
2020-01-01 0 days 2,152 sqft
2020-02-01 0 days 2,171 sqft
2020-03-01 0 days 2,031 sqft
2020-04-01 0 days 2,044 sqft
2020-05-01 0 days 1,939 sqft
2020-06-01 0 days 2,072 sqft
2020-07-01 0 days 2,038 sqft
2020-08-01 0 days 2,093 sqft
2020-09-01 0 days 2,263 sqft
2020-10-01 0 days 2,344 sqft
2020-11-01 0 days 2,372 sqft
2020-12-01 0 days 2,127 sqft
2021-01-01 0 days 2,071 sqft
2021-02-01 0 days 1,832 sqft
2021-03-01 0 days 1,837 sqft
2021-04-01 0 days 1,985 sqft
2021-05-01 0 days 1,986 sqft
2021-06-01 0 days 1,953 sqft
2021-07-01 0 days 1,899 sqft
2021-08-01 0 days 1,873 sqft
2021-09-01 0 days 1,865 sqft
2021-10-01 0 days 1,832 sqft
2021-11-01 0 days 1,786 sqft
2021-12-01 0 days 1,789 sqft
2022-01-01 0 days 1,849 sqft
2022-02-01 0 days 1,768 sqft
2022-03-01 0 days 1,868 sqft
2022-04-01 0 days 1,801 sqft
2022-05-01 0 days 1,800 sqft
2022-06-01 0 days 1,803 sqft
2022-07-01 0 days 1,786 sqft
2022-08-01 0 days 1,784 sqft
2022-09-01 0 days 1,774 sqft
2022-10-01 0 days 1,712 sqft
2022-11-01 0 days 1,722 sqft
2022-12-01 0 days 1,777 sqft
2023-01-01 0 days 1,773 sqft
2023-02-01 0 days 1,797 sqft
2023-03-01 0 days 1,791 sqft
2023-04-01 0 days 1,809 sqft
2023-05-01 0 days 1,878 sqft
2023-06-01 0 days 1,919 sqft
2023-07-01 0 days 1,897 sqft
2023-08-01 0 days 1,844 sqft
2023-09-01 0 days 1,800 sqft
2023-10-01 0 days 1,795 sqft
2023-11-01 0 days 1,792 sqft
2023-12-01 0 days 1,794 sqft
Paris's median listing age (time on market) for 2023-12-01 was 0 days.

Paris's median square footage for active listings during the 2023-12-01 period was 1,794 sqft. One year prior, the average listing was 1,777 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).