Paris FHA Loan Rates, Closing Costs & Stats

Paris, TX

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits
  • Market Conditions & Pricing
  • Time on Market/Property Size

    • 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 38 lenders originated 107 FHA loans during 2023. The total origination value was $20,505,000, with an average FHA loan value of $191,636.

    Paris FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Paris averaged 6.8% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Paris's average FHA mortgage closing costs are $7,651.

    The average rate for the prior week (2025-02-07) was 6.51% and one month ago for the week of 2025-01-10, the average rate was 6.47%.

    The average rate one year ago was 6.5%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.32%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    SFMC, LP 9 7.01% $11,502
    Guaranty Bank & Trust, N.A. 8 6.36% $9,052
    QUICKEN LOANS, LLC 6 6.56% $9,254
    T2 FINANCIAL LLC 5 6.68% $9,512
    EVERETT FINANCIAL, INC. 5 7.28% $7,423
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.22% $7,706
    GUARANTEED RATE, INC. 4 6.48% $10,622
    GUILD MORTGAGE COMPANY 4 6.66% $10,832
    PROPER RATE, LLC 4 7.06% $11,597
    UNITED WHOLESALE MORTGAGE, LLC 4 6.81% $8,719
    Farmers Bank & Trust Company 4 6.78% $9,647
    Nations Lending Corporation 3 7.25% $8,802
    CARDINAL FINANCIAL 3 7.04% $12,441
    Town Square Mortgage & Investments, Inc. 2 7.06% $7,320
    AMCAP MORTGAGE, LTD. 2 6.56% $9,420
    MORTGAGE FINANCIAL SERVICES, LLC 1 8.50% $7,392
    NBKC BANK 1 5.25% $10,501
    Network Funding, L.P. 1 6.63% $6,978
    NEWREZ LLC 1 5.50% $9,591
    PENNYMAC LOAN SERVICES, LLC 1 7.25% $17,324
    PLANET HOME LENDING, LLC 1 6.75% $8,089
    VILLAGE CAPITAL MORTGAGE 1 6.00% $11,195
    ACADEMY MORTGAGE CORPORATION 1 7.38% $6,351
    V.I.P. MORTGAGE, INC. 1 7.50% $11,142
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 7.50% $14,067
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $9,810
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $5,733
    BROKER SOLUTIONS, INC. 1 6.75% $9,265
    CALCON MUTUAL MORTGAGE LLC 1 6.88% $10,505
    Century Mortgage Company DBA Century Lending Company 1 6.88% $9,826
    CHURCHILL MORTGAGE CORPORATION 1 6.75% $6,222
    CROSSCOUNTRY MORTGAGE, LLC 1 6.99% $6,249
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.13% $9,453
    Equity Prime Mortgage LLC 1 7.75% $10,470
    FirstTrust Home Loans, Inc. 1 6.63% $8,867
    FREEDOM MORTGAGE CORPORATION 1 7.25% $7,407
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.63% $9,475
    LEADERONE FINANCIAL CORPORATION 1 7.13% $10,622

    The top Paris FHA lender as defined by loan originations is SFMC, LP, with 9 FHA loans originated. Their average total fees are $11,502, which is $2,451 higher than the next largest lender, Guaranty Bank & Trust, N.A..

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

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

    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 (15.5%) $210,062 (15.4%) 0.00 217
    2018-02-01 $157,675 (12.7%) $199,231 (9.6%) 0.00 221
    2018-03-01 $162,000 (19.2%) $210,601 (15.0%) 0.00 217
    2018-04-01 $170,425 (31.2%) $218,167 (23.2%) 0.00 211
    2018-05-01 $176,925 (31.1%) $225,634 (13.8%) 0.00 218
    2018-06-01 $164,950 (18.3%) $200,492 (5.6%) 0.00 231
    2018-07-01 $162,450 (16.1%) $199,101 (2.0%) 0.00 251
    2018-08-01 $165,000 (14.2%) $208,632 (2.7%) 0.00 258
    2018-09-01 $169,900 (19.2%) $216,720 (8.5%) 0.00 259
    2018-10-01 $169,900 (14.9%) $216,771 (3.3%) 0.00 283
    2018-11-01 $169,600 (12.1%) $210,483 (2.7%) 0.00 271
    2018-12-01 $159,900 (6.6%) $204,124 (-2.2%) 0.00 245
    2019-01-01 $150,750 (-6.7%) $200,487 (-4.6%) 0.00 239
    2019-02-01 $157,925 (0.2%) $203,741 (2.3%) 0.00 234
    2019-03-01 $160,350 (-1.0%) $201,049 (-4.5%) 0.00 231
    2019-04-01 $164,725 (-3.3%) $205,201 (-5.9%) 0.00 230
    2019-05-01 $184,850 (4.5%) $218,455 (-3.2%) 0.00 250
    2019-06-01 $169,500 (2.8%) $209,274 (4.4%) 0.00 263
    2019-07-01 $175,075 (7.8%) $216,313 (8.6%) 0.00 265
    2019-08-01 $186,087 (12.8%) $221,390 (6.1%) 0.00 263
    2019-09-01 $187,726 (10.5%) $220,598 (1.8%) 0.00 257
    2019-10-01 $189,000 (11.2%) $221,822 (2.3%) 0.00 251
    2019-11-01 $174,700 (3.0%) $213,108 (1.3%) 0.00 245
    2019-12-01 $166,500 (4.1%) $206,504 (1.2%) 0.00 235
    2020-01-01 $171,850 (14.0%) $220,264 (9.9%) 0.00 205
    2020-02-01 $174,900 (10.8%) $231,705 (13.7%) 0.00 195
    2020-03-01 $168,948 (5.4%) $237,081 (17.9%) 0.00 187
    2020-04-01 $167,035 (1.4%) $229,317 (11.8%) 0.00 175
    2020-05-01 $165,000 (-10.7%) $220,581 (1.0%) 0.00 158
    2020-06-01 $174,325 (2.9%) $224,434 (7.2%) 0.00 145
    2020-07-01 $186,250 (6.4%) $223,233 (3.2%) 0.00 143
    2020-08-01 $179,900 (-3.3%) $216,417 (-2.3%) 0.00 110
    2020-09-01 $193,250 (2.9%) $226,717 (2.8%) 0.00 106
    2020-10-01 $191,500 (1.3%) $229,563 (3.5%) 0.00 120
    2020-11-01 $192,425 (10.2%) $248,338 (16.5%) 0.00 116
    2020-12-01 $174,950 (5.1%) $231,745 (12.2%) 0.00 108
    2021-01-01 $174,900 (1.8%) $232,808 (5.7%) 0.00 100
    2021-02-01 $158,863 (-9.2%) $218,872 (-5.5%) 0.00 98
    2021-03-01 $167,450 (-0.9%) $224,186 (-5.4%) 0.00 81
    2021-04-01 $174,900 (4.7%) $232,434 (1.4%) 0.00 69
    2021-05-01 $189,900 (15.1%) $243,727 (10.5%) 0.00 69
    2021-06-01 $192,000 (10.1%) $235,804 (5.1%) 0.00 85
    2021-07-01 $189,900 (2.0%) $259,991 (16.5%) 0.00 84
    2021-08-01 $205,900 (14.5%) $258,716 (19.5%) 0.00 95
    2021-09-01 $243,325 (25.9%) $285,240 (25.8%) 0.00 120
    2021-10-01 $238,000 (24.3%) $281,800 (22.8%) 0.00 131
    2021-11-01 $223,975 (16.4%) $293,133 (18.0%) 0.00 111
    2021-12-01 $219,750 (25.6%) $303,208 (30.8%) 0.00 107
    2022-01-01 $247,450 (41.5%) $320,800 (37.8%) 0.00 108
    2022-02-01 $234,900 (47.9%) $317,227 (44.9%) 0.00 97
    2022-03-01 $272,450 (62.7%) $347,283 (54.9%) 0.00 95
    2022-04-01 $252,450 (44.3%) $357,456 (53.8%) 0.00 106
    2022-05-01 $257,825 (35.8%) $384,751 (57.9%) 0.00 117
    2022-06-01 $241,225 (25.6%) $344,987 (46.3%) 0.00 140
    2022-07-01 $241,400 (27.1%) $330,777 (27.2%) 0.00 163
    2022-08-01 $228,495 (11.0%) $304,088 (17.5%) 0.00 191
    2022-09-01 $225,000 (-7.5%) $308,892 (8.3%) 0.00 197
    2022-10-01 $219,500 (-7.8%) $294,886 (4.6%) 0.00 224
    2022-11-01 $215,000 (-4.0%) $303,599 (3.6%) 0.00 232
    2022-12-01 $222,500 (1.3%) $310,393 (2.4%) 0.00 226
    2023-01-01 $235,225 (-4.9%) $315,631 (-1.6%) 0.00 214
    2023-02-01 $247,475 (5.4%) $334,440 (5.4%) 0.00 215
    2023-03-01 $256,250 (-6.0%) $341,818 (-1.6%) 0.00 210
    2023-04-01 $260,000 (3.0%) $355,775 (-0.5%) 0.00 209
    2023-05-01 $274,925 (6.6%) $365,555 (-5.0%) 0.00 199
    2023-06-01 $277,500 (15.0%) $359,606 (4.2%) 0.00 205
    2023-07-01 $260,000 (7.7%) $347,258 (5.0%) 0.00 227
    2023-08-01 $259,000 (13.4%) $360,428 (18.5%) 0.00 235
    2023-09-01 $254,000 (12.9%) $358,859 (16.2%) 0.00 242
    2023-10-01 $249,975 (13.9%) $360,422 (22.2%) 0.00 244
    2023-11-01 $248,500 (15.6%) $351,242 (15.7%) 0.00 257
    2023-12-01 $248,500 (11.7%) $354,814 (14.3%) 0.00 257
    2024-01-01 $248,500 (5.6%) $362,054 (14.7%) 0.00 231
    2024-02-01 $247,000 (-0.2%) $358,006 (7.1%) 0.00 212
    2024-03-01 $241,900 (-5.6%) $343,927 (0.6%) 0.00 209
    2024-04-01 $241,900 (-7.0%) $338,180 (-5.0%) 0.00 217
    2024-05-01 $241,900 (-12.0%) $326,203 (-10.8%) 0.00 211
    2024-06-01 $259,000 (-6.7%) $330,212 (-8.2%) 0.00 242
    2024-07-01 $254,000 (-2.3%) $358,016 (3.1%) 0.00 257
    2024-08-01 $259,950 (0.4%) $355,253 (-1.4%) 0.00 262
    2024-09-01 $262,475 (3.3%) $361,205 (0.7%) 0.00 262
    2024-10-01 $270,725 (8.3%) $355,812 (-1.3%) 0.00 272
    2024-11-01 $269,900 (8.6%) $351,253 (0.0%) 0.00 277
    2024-12-01 $276,375 (11.2%) $355,807 (0.3%) 0.00 271
    2025-01-01 $277,000 (11.5%) $336,611 (-7.0%) 0.00 275
    Paris's median listing price for 2025-01-01 was $277,000, a difference of $28,500 (11.5%) versus the prior year and $625 versus the prior month.

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

    Paris's average listing price for 2025-01-01 was $336,611, a difference of $-25,443 (-7.0%) versus the prior year and $-19,196 versus the prior month.

    For the 2025-01-01 period, Paris had 275 MLS listings, a difference of 4 listings (1%) versus the prior month and 44 listings (19%) 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 2,079 sqft
    2018-02-01 0 days 2,015 sqft
    2018-03-01 0 days 2,082 sqft
    2018-04-01 0 days 2,258 sqft
    2018-05-01 0 days 2,383 sqft
    2018-06-01 0 days 2,257 sqft
    2018-07-01 0 days 2,158 sqft
    2018-08-01 0 days 2,184 sqft
    2018-09-01 0 days 2,111 sqft
    2018-10-01 0 days 2,058 sqft
    2018-11-01 0 days 2,034 sqft
    2018-12-01 0 days 2,036 sqft
    2019-01-01 0 days 1,957 sqft
    2019-02-01 0 days 1,986 sqft
    2019-03-01 0 days 2,001 sqft
    2019-04-01 0 days 1,999 sqft
    2019-05-01 0 days 2,140 sqft
    2019-06-01 0 days 2,006 sqft
    2019-07-01 0 days 2,021 sqft
    2019-08-01 0 days 2,122 sqft
    2019-09-01 0 days 2,178 sqft
    2019-10-01 0 days 2,233 sqft
    2019-11-01 0 days 2,173 sqft
    2019-12-01 0 days 2,151 sqft
    2020-01-01 0 days 2,156 sqft
    2020-02-01 0 days 2,171 sqft
    2020-03-01 0 days 2,059 sqft
    2020-04-01 0 days 2,035 sqft
    2020-05-01 0 days 1,976 sqft
    2020-06-01 0 days 2,102 sqft
    2020-07-01 0 days 2,044 sqft
    2020-08-01 0 days 2,044 sqft
    2020-09-01 0 days 2,299 sqft
    2020-10-01 0 days 2,340 sqft
    2020-11-01 0 days 2,324 sqft
    2020-12-01 0 days 2,086 sqft
    2021-01-01 0 days 2,066 sqft
    2021-02-01 0 days 1,814 sqft
    2021-03-01 0 days 1,832 sqft
    2021-04-01 0 days 2,015 sqft
    2021-05-01 0 days 1,992 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 1,887 sqft
    2023-06-01 0 days 1,924 sqft
    2023-07-01 0 days 1,898 sqft
    2023-08-01 0 days 1,844 sqft
    2023-09-01 0 days 1,800 sqft
    2023-10-01 0 days 1,794 sqft
    2023-11-01 0 days 1,790 sqft
    2023-12-01 0 days 1,792 sqft
    2024-01-01 0 days 1,759 sqft
    2024-02-01 0 days 1,732 sqft
    2024-03-01 0 days 1,700 sqft
    2024-04-01 0 days 1,778 sqft
    2024-05-01 0 days 1,781 sqft
    2024-06-01 0 days 1,790 sqft
    2024-07-01 0 days 1,804 sqft
    2024-08-01 0 days 1,926 sqft
    2024-09-01 0 days 1,917 sqft
    2024-10-01 0 days 1,874 sqft
    2024-11-01 0 days 1,840 sqft
    2024-12-01 0 days 1,848 sqft
    2025-01-01 0 days 1,855 sqft
    Paris's median listing age (time on market) for 2025-01-01 was 0 days.

    Paris's median square footage for active listings during the 2025-01-01 period was 1,855 sqft. One year prior, the average listing was 1,759 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).