Port Lavaca FHA Loan Rates, Closing Costs & Stats

Port Lavaca, 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.

Port Lavaca's 20 lenders originated 36 FHA loans during 2023. The total origination value was $7,170,000, with an average FHA loan value of $199,167.

Port Lavaca FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Port Lavaca averaged 0.36% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

Port Lavaca's average FHA mortgage closing costs are $8,018.

The average rate for the prior week (2024-11-22) was 6.65% and one month ago for the week of 2024-10-25, the average rate was 6.53%.

The average rate one year ago was 7.52%.

For refis of the same type during the week of 2024-11-29, the average rate was 0%.

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

Port Lavaca 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 Port Lavaca level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Wallick & Volk, Inc. 7 6.93% $6,825
UNITED WHOLESALE MORTGAGE, LLC 4 7.17% $10,990
Prosperity Bank 2 6.13% $6,732
Equity Prime Mortgage LLC 2 7.13% $8,799
TEXAS DOW EMPLOYEES CREDIT UNION 2 6.75% $7,358
CARDINAL FINANCIAL 2 6.75% $15,218
GSF Mortgage Corporation 1 6.13% $18,254
GUARANTEED RATE, INC. 1 7.25% $5,098
GUILD MORTGAGE COMPANY 1 7.13% $6,925
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.50% $8,876
PENNYMAC LOAN SERVICES, LLC 1 6.75% $16,120
PLAZA HOME MORTGAGE, INC. 1 7.25% $9,962
QUICKEN LOANS, LLC 1 6.49% $12,748
AMCAP MORTGAGE, LTD. 1 6.75% $15,287
WILLOW BEND MORTGAGE COMPANY, LLC 1 6.63% $7,920
CALCON MUTUAL MORTGAGE LLC 1 8.71% $10,785
DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $16,136
EVERETT FINANCIAL, INC. 1 7.13% $12,788
FBC MORTGAGE, LLC 1 6.25% $9,188
FREEDOM MORTGAGE CORPORATION 1 6.99% $13,946

The top Port Lavaca FHA lender as defined by loan originations is Wallick & Volk, Inc., with 7 FHA loans originated. Their average total fees are $6,825, which is $4,165 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

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

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

Port Lavaca FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Port Lavaca (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 $228,900 (9.9%) $305,282 (-2.4%) 0.00 138
2018-02-01 $244,650 (13.8%) $326,422 (1.1%) 0.00 133
2018-03-01 $249,000 (19.6%) $344,332 (9.8%) 0.00 136
2018-04-01 $254,988 (16.0%) $344,752 (9.3%) 0.00 145
2018-05-01 $253,000 (12.4%) $338,534 (8.6%) 0.00 160
2018-06-01 $257,450 (14.4%) $345,837 (11.4%) 0.00 183
2018-07-01 $259,450 (18.0%) $365,161 (17.5%) 0.00 182
2018-08-01 $273,450 (29.0%) $377,630 (27.0%) 0.00 172
2018-09-01 $274,950 (37.7%) $359,206 (26.5%) 0.00 165
2018-10-01 $274,500 (40.5%) $360,695 (34.9%) 0.00 161
2018-11-01 $278,225 (28.7%) $356,341 (27.4%) 0.00 154
2018-12-01 $262,400 (16.6%) $331,003 (15.0%) 0.00 154
2019-01-01 $260,000 (13.6%) $329,184 (7.8%) 0.00 143
2019-02-01 $260,000 (6.3%) $329,274 (0.9%) 0.00 148
2019-03-01 $263,857 (6.0%) $327,487 (-4.9%) 0.00 144
2019-04-01 $269,450 (5.7%) $330,029 (-4.3%) 0.00 142
2019-05-01 $257,000 (1.6%) $324,008 (-4.3%) 0.00 145
2019-06-01 $254,000 (-1.3%) $332,031 (-4.0%) 0.00 144
2019-07-01 $249,900 (-3.7%) $324,876 (-11.0%) 0.00 147
2019-08-01 $249,077 (-8.9%) $332,185 (-12.0%) 0.00 144
2019-09-01 $243,943 (-11.3%) $327,575 (-8.8%) 0.00 141
2019-10-01 $239,950 (-12.6%) $323,300 (-10.4%) 0.00 138
2019-11-01 $249,700 (-10.3%) $324,807 (-8.9%) 0.00 138
2019-12-01 $236,975 (-9.7%) $318,615 (-3.7%) 0.00 133
2020-01-01 $230,000 (-11.5%) $310,358 (-5.7%) 0.00 124
2020-02-01 $244,450 (-6.0%) $346,672 (5.3%) 0.00 112
2020-03-01 $257,950 (-2.2%) $357,579 (9.2%) 0.00 120
2020-04-01 $270,725 (0.5%) $361,911 (9.7%) 0.00 119
2020-05-01 $269,900 (5.0%) $367,354 (13.4%) 0.00 116
2020-06-01 $251,250 (-1.1%) $358,619 (8.0%) 0.00 114
2020-07-01 $251,250 (0.5%) $405,260 (24.7%) 0.00 109
2020-08-01 $249,900 (0.3%) $394,063 (18.6%) 0.00 97
2020-09-01 $249,950 (2.5%) $413,222 (26.2%) 0.00 87
2020-10-01 $262,500 (9.4%) $407,386 (26.0%) 0.00 82
2020-11-01 $261,250 (4.6%) $425,137 (30.9%) 0.00 82
2020-12-01 $249,000 (5.1%) $402,257 (26.3%) 0.00 83
2021-01-01 $249,950 (8.7%) $423,796 (36.6%) 0.00 77
2021-02-01 $245,000 (0.2%) $418,483 (20.7%) 0.00 71
2021-03-01 $279,750 (8.5%) $454,208 (27.0%) 0.00 69
2021-04-01 $253,750 (-6.3%) $427,033 (18.0%) 0.00 65
2021-05-01 $274,900 (1.9%) $423,269 (15.2%) 0.00 65
2021-06-01 $283,600 (12.9%) $463,951 (29.4%) 0.00 65
2021-07-01 $292,450 (16.4%) $389,617 (-3.9%) 0.00 57
2021-08-01 $286,175 (14.5%) $354,719 (-10.0%) 0.00 56
2021-09-01 $287,000 (14.8%) $359,836 (-12.9%) 0.00 64
2021-10-01 $280,500 (6.9%) $346,663 (-14.9%) 0.00 67
2021-11-01 $251,200 (-3.9%) $329,559 (-22.5%) 0.00 65
2021-12-01 $236,225 (-5.1%) $313,247 (-22.1%) 0.00 68
2022-01-01 $257,450 (3.0%) $312,536 (-26.3%) 0.00 61
2022-02-01 $229,000 (-6.5%) $270,238 (-35.4%) 0.00 53
2022-03-01 $250,750 (-10.4%) $330,159 (-27.3%) 0.00 56
2022-04-01 $294,450 (16.0%) $365,639 (-14.4%) 0.00 58
2022-05-01 $289,000 (5.1%) $360,649 (-14.8%) 0.00 57
2022-06-01 $290,500 (2.4%) $354,613 (-23.6%) 0.00 61
2022-07-01 $319,000 (9.1%) $422,905 (8.5%) 0.00 69
2022-08-01 $312,000 (9.0%) $415,591 (17.2%) 0.00 70
2022-09-01 $277,450 (-3.3%) $403,661 (12.2%) 0.00 86
2022-10-01 $298,500 (6.4%) $423,272 (22.1%) 0.00 81
2022-11-01 $327,000 (30.2%) $453,790 (37.7%) 0.00 79
2022-12-01 $317,000 (34.2%) $450,582 (43.8%) 0.00 80
2023-01-01 $308,750 (19.9%) $450,499 (44.1%) 0.00 82
2023-02-01 $299,000 (30.6%) $433,191 (60.3%) 0.00 82
2023-03-01 $307,500 (22.6%) $430,712 (30.5%) 0.00 83
2023-04-01 $299,000 (1.6%) $402,131 (10.0%) 0.00 93
2023-05-01 $304,975 (5.5%) $415,212 (15.1%) 0.00 96
2023-06-01 $335,000 (15.3%) $445,707 (25.7%) 0.00 95
2023-07-01 $327,000 (2.5%) $419,957 (-0.7%) 0.00 103
2023-08-01 $317,250 (1.7%) $403,842 (-2.8%) 0.00 102
2023-09-01 $322,000 (16.1%) $396,774 (-1.7%) 0.00 115
2023-10-01 $316,000 (5.9%) $412,719 (-2.5%) 0.00 116
2023-11-01 $325,250 (-0.5%) $433,704 (-4.4%) 0.00 115
2023-12-01 $325,000 (2.5%) $428,319 (-4.9%) 0.00 103
2024-01-01 $313,500 (1.5%) $419,206 (-7.0%) 0.00 110
2024-02-01 $311,475 (4.2%) $415,522 (-4.1%) 0.00 109
2024-03-01 $339,500 (10.4%) $443,015 (2.9%) 0.00 114
2024-04-01 $346,450 (15.9%) $438,929 (9.2%) 0.00 136
2024-05-01 $357,000 (17.1%) $425,503 (2.5%) 0.00 155
2024-06-01 $340,000 (1.5%) $413,891 (-7.1%) 0.00 158
2024-07-01 $367,375 (12.4%) $432,429 (3.0%) 0.00 162
2024-08-01 $353,725 (11.5%) $426,504 (5.6%) 0.00 151
2024-09-01 $357,425 (11.0%) $458,461 (15.6%) 0.00 151
2024-10-01 $349,950 (10.7%) $444,648 (7.7%) 0.00 155
Port Lavaca's median listing price for 2024-10-01 was $349,950, a difference of $33,950 (10.7%) versus the prior year and $-7,475 versus the prior month.

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

Port Lavaca's average listing price for 2024-10-01 was $444,648, a difference of $31,929 (7.7%) versus the prior year and $-13,813 versus the prior month.

For the 2024-10-01 period, Port Lavaca had 155 MLS listings, a difference of 4 listings (3%) versus the prior month and 39 listings (34%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Port Lavaca (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,601 sqft
2018-02-01 0 days 1,679 sqft
2018-03-01 0 days 1,736 sqft
2018-04-01 0 days 1,768 sqft
2018-05-01 0 days 1,718 sqft
2018-06-01 0 days 1,793 sqft
2018-07-01 0 days 1,785 sqft
2018-08-01 0 days 1,795 sqft
2018-09-01 0 days 1,800 sqft
2018-10-01 0 days 1,793 sqft
2018-11-01 0 days 1,807 sqft
2018-12-01 0 days 1,700 sqft
2019-01-01 0 days 1,699 sqft
2019-02-01 0 days 1,697 sqft
2019-03-01 0 days 1,672 sqft
2019-04-01 0 days 1,644 sqft
2019-05-01 0 days 1,621 sqft
2019-06-01 0 days 1,583 sqft
2019-07-01 0 days 1,577 sqft
2019-08-01 0 days 1,576 sqft
2019-09-01 0 days 1,563 sqft
2019-10-01 0 days 1,534 sqft
2019-11-01 0 days 1,565 sqft
2019-12-01 0 days 1,543 sqft
2020-01-01 0 days 1,549 sqft
2020-02-01 0 days 1,620 sqft
2020-03-01 0 days 1,780 sqft
2020-04-01 0 days 1,796 sqft
2020-05-01 0 days 1,854 sqft
2020-06-01 0 days 1,800 sqft
2020-07-01 0 days 1,773 sqft
2020-08-01 0 days 1,800 sqft
2020-09-01 0 days 1,729 sqft
2020-10-01 0 days 1,649 sqft
2020-11-01 0 days 1,667 sqft
2020-12-01 0 days 1,639 sqft
2021-01-01 0 days 1,792 sqft
2021-02-01 0 days 1,796 sqft
2021-03-01 0 days 1,722 sqft
2021-04-01 0 days 1,496 sqft
2021-05-01 0 days 1,600 sqft
2021-06-01 0 days 1,787 sqft
2021-07-01 0 days 1,712 sqft
2021-08-01 0 days 1,737 sqft
2021-09-01 0 days 1,593 sqft
2021-10-01 0 days 1,600 sqft
2021-11-01 0 days 1,438 sqft
2021-12-01 0 days 1,453 sqft
2022-01-01 0 days 1,528 sqft
2022-02-01 0 days 1,581 sqft
2022-03-01 0 days 1,631 sqft
2022-04-01 0 days 1,628 sqft
2022-05-01 0 days 1,748 sqft
2022-06-01 0 days 1,714 sqft
2022-07-01 0 days 1,620 sqft
2022-08-01 0 days 1,631 sqft
2022-09-01 0 days 1,611 sqft
2022-10-01 0 days 1,616 sqft
2022-11-01 0 days 1,630 sqft
2022-12-01 0 days 1,690 sqft
2023-01-01 0 days 1,728 sqft
2023-02-01 0 days 1,718 sqft
2023-03-01 0 days 1,740 sqft
2023-04-01 0 days 1,642 sqft
2023-05-01 0 days 1,633 sqft
2023-06-01 0 days 1,688 sqft
2023-07-01 0 days 1,634 sqft
2023-08-01 0 days 1,635 sqft
2023-09-01 0 days 1,620 sqft
2023-10-01 0 days 1,626 sqft
2023-11-01 0 days 1,704 sqft
2023-12-01 0 days 1,668 sqft
2024-01-01 0 days 1,705 sqft
2024-02-01 0 days 1,671 sqft
2024-03-01 0 days 1,780 sqft
2024-04-01 0 days 1,763 sqft
2024-05-01 0 days 1,681 sqft
2024-06-01 0 days 1,662 sqft
2024-07-01 0 days 1,672 sqft
2024-08-01 0 days 1,660 sqft
2024-09-01 0 days 1,642 sqft
2024-10-01 0 days 1,633 sqft
Port Lavaca's median listing age (time on market) for 2024-10-01 was 0 days.

Port Lavaca's median square footage for active listings during the 2024-10-01 period was 1,633 sqft. One year prior, the average listing was 1,626 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).