San Angelo FHA Loan Rates, Closing Costs & Stats

SAN ANGELO, 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.

    San Angelo's 49 lenders originated 321 FHA loans during 2023. The total origination value was $72,975,000, with an average FHA loan value of $227,336.

    San Angelo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in San Angelo averaged 0.15% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    San Angelo's average FHA mortgage closing costs are $7,611.

    The average rate for the prior week (2024-11-08) was 6.66% and one month ago for the week of 2024-10-11, the average rate was 6.26%.

    The average rate one year ago was 7.1%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.2%.

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

    San Angelo 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 San Angelo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    MORTGAGE FINANCIAL SERVICES, LLC 88 6.86% $9,733
    GUILD MORTGAGE COMPANY 39 6.94% $10,408
    T2 FINANCIAL LLC 34 7.10% $12,198
    AMERICAN PACIFIC MORTGAGE CORPORATION 32 7.16% $12,544
    First Financial Bank 18 6.63% $9,555
    UNITED WHOLESALE MORTGAGE, LLC 12 6.49% $10,235
    NATIONS RELIABLE LENDING, LLC 10 6.84% $12,037
    QUICKEN LOANS, LLC 9 6.33% $10,772
    University Bank 6 6.21% $9,669
    ZILLOW HOME LOANS, LLC 3 6.21% $10,477
    Prosperity Bank 3 6.08% $8,863
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.75% $14,557
    FREEDOM MORTGAGE CORPORATION 3 6.71% $9,999
    Plains Commerce Bank 2 7.06% $8,184
    BROKER SOLUTIONS, INC. 2 6.94% $10,792
    CALCON MUTUAL MORTGAGE LLC 2 7.63% $15,237
    CARDINAL FINANCIAL 2 7.00% $14,026
    Gateway First Bank 2 6.00% $9,056
    GENEVA FINANCIAL, LLC 2 6.38% $16,616
    LIBERTY HOME MORTGAGE CORPORATION 2 7.44% $12,689
    LOANDEPOT.COM, LLC 2 6.69% $13,935
    MEMBER FIRST MORTGAGE, LLC 2 6.75% $9,697
    PENNYMAC LOAN SERVICES, LLC 2 6.06% $9,646
    INTERCAP LENDING INC. 1 6.13% $9,303
    BECKAM FUNDING CORP. 1 7.75% $7,373
    Bank of England 1 6.25% $9,699
    Loan Simple, Inc. 1 6.38% $11,838
    V.I.P. MORTGAGE, INC. 1 7.63% $13,579
    Equity Prime Mortgage LLC 1 6.50% $5,874
    Mortgage Research Center, LLC 1 7.50% $4,223
    CROSSCOUNTRY MORTGAGE, LLC 1 6.75% $14,076
    OCMBC, INC. 1 5.63% $7,607
    ONY GLO, INC. 1 5.75% $8,602
    BancorpSouth 1 6.00% $10,656
    PENTAGON FEDERAL CREDIT UNION 1 5.50% $6,887
    PILGRIM MORTGAGE LLC 1 7.13% $10,957
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $15,317
    CORNERSTONE HOME LENDING, INC. 1 7.12% $11,108
    City Bank 1 6.63% $10,833
    Citizens Bank 1 6.63% $12,096
    Republic State Mortgage Co. 1 6.25% $7,416
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $19,006
    Sunflower Bank 1 6.13% $17,843
    Flagstar Bank, FSB 1 6.75% $10,011
    First National Bank Texas 1 5.75% $14,337
    CHURCHILL MORTGAGE CORPORATION 1 6.99% $15,152
    The Federal Savings Bank 1 6.50% $11,131
    EVERETT FINANCIAL, INC. 1 7.25% $9,368
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 6.75% $8,498

    The top San Angelo FHA lender as defined by loan originations is MORTGAGE FINANCIAL SERVICES, LLC, with 88 FHA loans originated. Their average total fees are $9,733, which is $675 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee San Angelo FHA lenders (with over 10 loans originated) are First Financial Bank ($9,555), MORTGAGE FINANCIAL SERVICES, LLC ($9,733), UNITED WHOLESALE MORTGAGE, LLC ($10,235), GUILD MORTGAGE COMPANY ($10,408) and NATIONS RELIABLE LENDING, LLC ($12,037).

    The lowest rate San Angelo FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.49%), First Financial Bank (6.63%), NATIONS RELIABLE LENDING, LLC (6.84%), MORTGAGE FINANCIAL SERVICES, LLC (6.86%) and GUILD MORTGAGE COMPANY (6.94%).

    San Angelo FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SAN ANGELO, TX IRION 2022 $420,680 $538,650 $651,050 $809,150
    SAN ANGELO, TX STERLING 2022 $420,680 $538,650 $651,050 $809,150
    SAN ANGELO, TX TOM GREEN 2022 $420,680 $538,650 $651,050 $809,150
    SAN ANGELO, TX IRION 2023 $472,030 $604,400 $730,525 $907,900
    SAN ANGELO, TX STERLING 2023 $472,030 $604,400 $730,525 $907,900
    SAN ANGELO, TX TOM GREEN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - San Angelo (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 $193,500 (-5.1%) $259,929 (0.6%) 0.00 492
    2018-02-01 $194,250 (-3.8%) $269,853 (5.6%) 0.00 455
    2018-03-01 $199,000 (-2.9%) $274,516 (6.1%) 0.00 448
    2018-04-01 $217,950 (7.6%) $296,002 (14.7%) 0.00 413
    2018-05-01 $219,450 (11.0%) $298,940 (18.3%) 0.00 388
    2018-06-01 $217,950 (10.0%) $293,301 (16.1%) 0.00 415
    2018-07-01 $200,200 (1.1%) $280,454 (9.8%) 0.00 435
    2018-08-01 $216,000 (9.2%) $286,975 (11.0%) 0.00 444
    2018-09-01 $224,900 (14.2%) $293,678 (13.9%) 0.00 455
    2018-10-01 $224,900 (15.3%) $298,724 (18.3%) 0.00 443
    2018-11-01 $216,525 (11.0%) $294,076 (14.9%) 0.00 441
    2018-12-01 $210,000 (6.6%) $295,512 (12.5%) 0.00 407
    2019-01-01 $211,725 (9.4%) $283,416 (9.0%) 0.00 409
    2019-02-01 $222,413 (14.5%) $291,622 (8.1%) 0.00 396
    2019-03-01 $229,349 (15.3%) $301,425 (9.8%) 0.00 387
    2019-04-01 $240,924 (10.5%) $309,528 (4.6%) 0.00 390
    2019-05-01 $249,900 (13.9%) $316,786 (6.0%) 0.00 373
    2019-06-01 $249,900 (14.7%) $322,701 (10.0%) 0.00 340
    2019-07-01 $248,950 (24.4%) $323,569 (15.4%) 0.00 336
    2019-08-01 $253,545 (17.4%) $332,790 (16.0%) 0.00 334
    2019-09-01 $245,364 (9.1%) $331,833 (13.0%) 0.00 333
    2019-10-01 $234,475 (4.3%) $326,227 (9.2%) 0.00 340
    2019-11-01 $236,000 (9.0%) $321,910 (9.5%) 0.00 341
    2019-12-01 $237,975 (13.3%) $323,910 (9.6%) 0.00 329
    2020-01-01 $248,475 (17.4%) $322,255 (13.7%) 0.00 312
    2020-02-01 $256,900 (15.5%) $325,603 (11.7%) 0.00 300
    2020-03-01 $264,975 (15.5%) $334,379 (10.9%) 0.00 289
    2020-04-01 $264,725 (9.9%) $329,410 (6.4%) 0.00 311
    2020-05-01 $274,900 (10.0%) $353,475 (11.6%) 0.00 263
    2020-06-01 $277,975 (11.2%) $365,166 (13.2%) 0.00 246
    2020-07-01 $276,675 (11.1%) $374,731 (15.8%) 0.00 239
    2020-08-01 $265,000 (4.5%) $351,777 (5.7%) 0.00 236
    2020-09-01 $255,500 (4.1%) $343,637 (3.6%) 0.00 210
    2020-10-01 $267,450 (14.1%) $353,369 (8.3%) 0.00 208
    2020-11-01 $270,000 (14.4%) $354,607 (10.2%) 0.00 207
    2020-12-01 $258,200 (8.5%) $344,715 (6.4%) 0.00 211
    2021-01-01 $265,400 (6.8%) $348,623 (8.2%) 0.00 184
    2021-02-01 $264,400 (2.9%) $365,778 (12.3%) 0.00 167
    2021-03-01 $257,500 (-2.8%) $383,104 (14.6%) 0.00 146
    2021-04-01 $279,950 (5.8%) $421,712 (28.0%) 0.00 134
    2021-05-01 $274,500 (-0.2%) $412,822 (16.8%) 0.00 140
    2021-06-01 $270,000 (-2.9%) $406,541 (11.3%) 0.00 149
    2021-07-01 $245,000 (-11.5%) $359,473 (-4.1%) 0.00 197
    2021-08-01 $247,225 (-6.7%) $342,247 (-2.7%) 0.00 222
    2021-09-01 $255,000 (-0.2%) $366,429 (6.6%) 0.00 228
    2021-10-01 $258,000 (-3.5%) $376,317 (6.5%) 0.00 226
    2021-11-01 $266,000 (-1.5%) $373,098 (5.2%) 0.00 233
    2021-12-01 $262,250 (1.6%) $367,163 (6.5%) 0.00 208
    2022-01-01 $263,250 (-0.8%) $358,225 (2.8%) 0.00 202
    2022-02-01 $268,475 (1.5%) $366,554 (0.2%) 0.00 174
    2022-03-01 $279,675 (8.6%) $372,897 (-2.7%) 0.00 166
    2022-04-01 $259,950 (-7.1%) $355,276 (-15.8%) 0.00 166
    2022-05-01 $288,000 (4.9%) $357,227 (-13.5%) 0.00 190
    2022-06-01 $276,000 (2.2%) $342,605 (-15.7%) 0.00 260
    2022-07-01 $265,000 (8.2%) $314,098 (-12.6%) 0.00 312
    2022-08-01 $265,000 (7.2%) $316,829 (-7.4%) 0.00 341
    2022-09-01 $278,000 (9.0%) $330,889 (-9.7%) 0.00 357
    2022-10-01 $279,000 (8.1%) $326,927 (-13.1%) 0.00 367
    2022-11-01 $299,900 (12.7%) $351,302 (-5.8%) 0.00 378
    2022-12-01 $299,900 (14.4%) $356,775 (-2.8%) 0.00 363
    2023-01-01 $301,450 (14.5%) $363,699 (1.5%) 0.00 347
    2023-02-01 $309,925 (15.4%) $356,823 (-2.7%) 0.00 311
    2023-03-01 $310,975 (11.2%) $366,919 (-1.6%) 0.00 291
    2023-04-01 $325,000 (25.0%) $393,733 (10.8%) 0.00 278
    2023-05-01 $331,900 (15.2%) $405,478 (13.5%) 0.00 309
    2023-06-01 $322,463 (16.8%) $391,598 (14.3%) 0.00 321
    2023-07-01 $322,450 (21.7%) $385,107 (22.6%) 0.00 335
    2023-08-01 $319,950 (20.7%) $388,083 (22.5%) 0.00 337
    2023-09-01 $315,000 (13.3%) $382,462 (15.6%) 0.00 328
    2023-10-01 $297,300 (6.6%) $363,904 (11.3%) 0.00 392
    2023-11-01 $287,125 (-4.3%) $365,091 (3.9%) 0.00 375
    2023-12-01 $285,000 (-5.0%) $363,410 (1.9%) 0.00 405
    2024-01-01 $284,000 (-5.8%) $358,410 (-1.5%) 0.00 401
    2024-02-01 $288,750 (-6.8%) $364,085 (2.0%) 0.00 382
    2024-03-01 $298,750 (-3.9%) $370,784 (1.1%) 0.00 395
    2024-04-01 $299,000 (-8.0%) $371,089 (-5.8%) 0.00 411
    2024-05-01 $299,900 (-9.6%) $368,368 (-9.2%) 0.00 429
    2024-06-01 $299,500 (-7.1%) $358,854 (-8.4%) 0.00 477
    2024-07-01 $303,900 (-5.8%) $368,160 (-4.4%) 0.00 487
    2024-08-01 $299,000 (-6.6%) $374,054 (-3.6%) 0.00 532
    2024-09-01 $299,450 (-4.9%) $370,459 (-3.1%) 0.00 566
    2024-10-01 $299,675 (0.8%) $373,135 (2.5%) 0.00 590
    San Angelo's median listing price for 2024-10-01 was $299,675, a difference of $2,375 (0.8%) versus the prior year and $225 versus the prior month.

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

    San Angelo's average listing price for 2024-10-01 was $373,135, a difference of $9,231 (2.5%) versus the prior year and $2,676 versus the prior month.

    For the 2024-10-01 period, San Angelo had 590 MLS listings, a difference of 24 listings (4%) versus the prior month and 198 listings (51%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - San Angelo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,847 sqft
    2018-02-01 0 days 1,867 sqft
    2018-03-01 0 days 1,874 sqft
    2018-04-01 0 days 1,912 sqft
    2018-05-01 0 days 1,914 sqft
    2018-06-01 0 days 1,924 sqft
    2018-07-01 0 days 1,882 sqft
    2018-08-01 0 days 1,899 sqft
    2018-09-01 0 days 1,932 sqft
    2018-10-01 0 days 1,952 sqft
    2018-11-01 0 days 1,949 sqft
    2018-12-01 0 days 1,940 sqft
    2019-01-01 0 days 1,896 sqft
    2019-02-01 0 days 1,881 sqft
    2019-03-01 0 days 1,922 sqft
    2019-04-01 0 days 1,980 sqft
    2019-05-01 0 days 2,003 sqft
    2019-06-01 0 days 1,973 sqft
    2019-07-01 0 days 1,975 sqft
    2019-08-01 0 days 1,997 sqft
    2019-09-01 0 days 1,981 sqft
    2019-10-01 0 days 1,946 sqft
    2019-11-01 0 days 1,909 sqft
    2019-12-01 0 days 1,868 sqft
    2020-01-01 0 days 1,892 sqft
    2020-02-01 0 days 1,952 sqft
    2020-03-01 0 days 1,998 sqft
    2020-04-01 0 days 1,977 sqft
    2020-05-01 0 days 2,039 sqft
    2020-06-01 0 days 2,050 sqft
    2020-07-01 0 days 1,994 sqft
    2020-08-01 0 days 1,922 sqft
    2020-09-01 0 days 1,886 sqft
    2020-10-01 0 days 1,960 sqft
    2020-11-01 0 days 1,956 sqft
    2020-12-01 0 days 1,873 sqft
    2021-01-01 0 days 1,830 sqft
    2021-02-01 0 days 1,890 sqft
    2021-03-01 0 days 1,977 sqft
    2021-04-01 0 days 1,988 sqft
    2021-05-01 0 days 1,904 sqft
    2021-06-01 0 days 1,904 sqft
    2021-07-01 0 days 1,858 sqft
    2021-08-01 0 days 1,836 sqft
    2021-09-01 0 days 1,878 sqft
    2021-10-01 0 days 1,913 sqft
    2021-11-01 0 days 1,863 sqft
    2021-12-01 0 days 1,904 sqft
    2022-01-01 0 days 1,828 sqft
    2022-02-01 0 days 1,827 sqft
    2022-03-01 0 days 1,890 sqft
    2022-04-01 0 days 1,788 sqft
    2022-05-01 0 days 1,766 sqft
    2022-06-01 0 days 1,803 sqft
    2022-07-01 0 days 1,784 sqft
    2022-08-01 0 days 1,800 sqft
    2022-09-01 0 days 1,815 sqft
    2022-10-01 0 days 1,850 sqft
    2022-11-01 0 days 1,867 sqft
    2022-12-01 0 days 1,844 sqft
    2023-01-01 0 days 1,880 sqft
    2023-02-01 0 days 1,872 sqft
    2023-03-01 0 days 1,886 sqft
    2023-04-01 0 days 1,950 sqft
    2023-05-01 0 days 1,950 sqft
    2023-06-01 0 days 1,903 sqft
    2023-07-01 0 days 1,914 sqft
    2023-08-01 0 days 1,895 sqft
    2023-09-01 0 days 1,872 sqft
    2023-10-01 0 days 1,754 sqft
    2023-11-01 0 days 1,770 sqft
    2023-12-01 0 days 1,774 sqft
    2024-01-01 0 days 1,746 sqft
    2024-02-01 0 days 1,743 sqft
    2024-03-01 0 days 1,800 sqft
    2024-04-01 0 days 1,834 sqft
    2024-05-01 0 days 1,796 sqft
    2024-06-01 0 days 1,796 sqft
    2024-07-01 0 days 1,836 sqft
    2024-08-01 0 days 1,813 sqft
    2024-09-01 0 days 1,793 sqft
    2024-10-01 0 days 1,788 sqft
    San Angelo's median listing age (time on market) for 2024-10-01 was 0 days.

    San Angelo's median square footage for active listings during the 2024-10-01 period was 1,788 sqft. One year prior, the average listing was 1,754 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).