Port Lavaca FHA Loan Rates, Closing Costs & Stats

Port Lavaca, 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.

    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 7.32% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

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

    The average rate for the prior week (2024-04-12) was 7.01% and one month ago for the week of 2024-03-15, the average rate was 6.77%.

    The average rate one year ago was 6.7%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

    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
    Port Lavaca's median listing price for 2024-03-01 was $339,500, a difference of $32,000 (10.4%) versus the prior year and $28,025 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 2024-03-01 was $443,015, a difference of $12,303 (2.9%) versus the prior year and $27,493 versus the prior month.

    For the 2024-03-01 period, Port Lavaca had 114 MLS listings, a difference of 5 listings (5%) versus the prior month and 31 listings (37%) 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
    Port Lavaca's median listing age (time on market) for 2024-03-01 was 0 days.

    Port Lavaca's median square footage for active listings during the 2024-03-01 period was 1,780 sqft. One year prior, the average listing was 1,740 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).