San Angelo FHA Loan Rates, Closing Costs & Stats

SAN ANGELO, 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.

San Angelo's 54 lenders originated 426 FHA loans during 2022. The total origination value was $88,920,000, with an average FHA loan value of $208,732.

San Angelo FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in San Angelo averaged -0.06% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

San Angelo's average FHA mortgage closing costs are $7,221.

The average rate for the prior week (2024-02-16) was 6.58% and one month ago for the week of 2024-01-19, the average rate was 6.32%.

The average rate one year ago was 6.18%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.23%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
MORTGAGE FINANCIAL SERVICES, LLC 117 5.36% $8,940
Gateway First Bank 55 5.40% $7,252
Hometown Lenders, Inc. 44 5.14% $11,103
GUILD MORTGAGE COMPANY 20 5.09% $11,032
T2 FINANCIAL LLC 20 6.56% $9,528
QUICKEN LOANS, LLC 13 4.30% $9,870
First Financial Bank 12 5.68% $8,985
GENEVA FINANCIAL, LLC 9 5.13% $10,234
LEGACY MORTGAGE LLC 9 5.39% $11,092
NATIONS RELIABLE LENDING, LLC 6 5.04% $11,245
AMCAP MORTGAGE, LTD. 5 5.55% $12,858
CARDINAL FINANCIAL 5 5.60% $11,267
PENNYMAC LOAN SERVICES, LLC 5 4.55% $7,936
UNITED WHOLESALE MORTGAGE, LLC 5 4.81% $7,950
UNIVERSITY LENDING GROUP, LLC 5 5.40% $12,333
Mr. Cooper ( Nationstar Mortgage ) 3 3.96% $3,457
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 4.71% $9,096
CERTAINTY HOME LOANS, LLC 3 5.54% $8,382
EVERETT FINANCIAL, INC. 3 5.79% $7,241
Mortgage Research Center, LLC 3 6.67% $7,789
GREAT WESTERN FINANCIAL SERVICES, INC. 3 5.13% $10,458
Nations Lending Corporation 3 4.96% $9,214
BROKER SOLUTIONS, INC. 2 5.50% $12,007
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 4.93% $8,511
Equity Prime Mortgage LLC 2 5.81% $10,084
University Bank 2 5.88% $8,417
AMERICAN FINANCING CORPORATION 2 5.75% $11,302
VILLAGE CAPITAL MORTGAGE 1 3.75% $991
AMERIFIRST FINANCIAL CORPORATION 1 5.25% $10,869
AMERISAVE MORTGAGE CORPORATION 1 4.25% $17,746
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.25% $11,885
ASSOCIATED MORTGAGE CORPORATION 1 5.13% $8,059
CALCON MUTUAL MORTGAGE LLC 1 7.13% $21,354
CALIBER HOME LOANS, INC. 1 2.75% $4,514
Cambria Financial Group, LLC 1 4.25% $13,053
CMG MORTGAGE, INC. 1 3.75% $13,006
DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $15,765
First Guaranty Mortgage Corporation 1 4.13% $11,196
First United Bank and Trust Company 1 5.38% $8,037
Flagstar Bank, FSB 1 5.00% $9,311
F & M Bank 1 5.25% $10,593
HANCOCK MORTGAGE PARTNERS, LLC 1 5.63% $8,972
HOME POINT FINANCIAL CORPORATION 1 2.75% $5,839
HOMESIDE FINANCIAL, LLC 1 5.63% $15,414
HOMETRUST MORTGAGE COMPANY 1 6.75% $7,273
LOANDEPOT.COM, LLC 1 5.63% $10,768
Network Funding, L.P. 1 7.75% $9,366
PLAZA HOME MORTGAGE, INC. 1 5.63% $6,931
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 4.13% $8,001
SECURITYNATIONAL MORTGAGE COMPANY 1 7.00% $15,618
SOUTHWEST STAGE FUNDING, LLC 1 4.38% $3,095
TIB The Independent Bankersbank 1 5.38% $5,692
Town Square Mortgage & Investments, Inc. 1 4.63% $7,346
VAN DYK MORTGAGE CORPORATION 1 6.50% $6,246

The top San Angelo FHA lender as defined by loan originations is MORTGAGE FINANCIAL SERVICES, LLC, with 117 FHA loans originated. Their average total fees are $8,940, which is $1,688 higher than the next largest lender, Gateway First Bank.

The lowest fee San Angelo FHA lenders (with over 10 loans originated) are Gateway First Bank ($7,252), MORTGAGE FINANCIAL SERVICES, LLC ($8,940), First Financial Bank ($8,985), T2 FINANCIAL LLC ($9,528) and QUICKEN LOANS, LLC ($9,870).

The lowest rate San Angelo FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.30%), GUILD MORTGAGE COMPANY (5.09%), Hometown Lenders, Inc. (5.14%), MORTGAGE FINANCIAL SERVICES, LLC (5.36%) and Gateway First Bank (5.40%).

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 (0.5%) 0.00 492
2018-02-01 $194,375 (-3.8%) $270,147 (5.5%) 0.00 454
2018-03-01 $199,000 (-2.9%) $274,818 (5.9%) 0.00 447
2018-04-01 $217,950 (7.6%) $296,431 (14.6%) 0.00 412
2018-05-01 $219,925 (11.2%) $299,265 (18.3%) 0.00 387
2018-06-01 $218,925 (10.5%) $293,481 (15.9%) 0.00 414
2018-07-01 $200,200 (1.0%) $280,538 (9.7%) 0.00 434
2018-08-01 $216,000 (9.2%) $286,975 (10.9%) 0.00 444
2018-09-01 $224,900 (14.0%) $293,678 (13.7%) 0.00 455
2018-10-01 $224,900 (15.3%) $298,724 (18.1%) 0.00 443
2018-11-01 $217,400 (11.4%) $294,180 (15.0%) 0.00 441
2018-12-01 $210,000 (6.6%) $296,193 (12.7%) 0.00 406
2019-01-01 $211,725 (9.4%) $283,667 (9.1%) 0.00 408
2019-02-01 $222,950 (14.7%) $291,847 (8.0%) 0.00 395
2019-03-01 $229,443 (15.3%) $301,924 (9.9%) 0.00 385
2019-04-01 $241,117 (10.6%) $310,090 (4.6%) 0.00 388
2019-05-01 $249,900 (13.6%) $317,046 (5.9%) 0.00 371
2019-06-01 $249,900 (14.2%) $322,701 (10.0%) 0.00 340
2019-07-01 $249,475 (24.6%) $324,196 (15.6%) 0.00 335
2019-08-01 $253,873 (17.5%) $333,461 (16.2%) 0.00 333
2019-09-01 $245,507 (9.2%) $332,531 (13.2%) 0.00 332
2019-10-01 $234,500 (4.3%) $326,917 (9.4%) 0.00 339
2019-11-01 $238,200 (9.6%) $322,921 (9.8%) 0.00 338
2019-12-01 $239,000 (13.8%) $325,206 (9.8%) 0.00 326
2020-01-01 $249,000 (17.6%) $323,999 (14.2%) 0.00 308
2020-02-01 $256,900 (15.2%) $327,129 (12.1%) 0.00 298
2020-03-01 $266,950 (16.4%) $336,619 (11.5%) 0.00 286
2020-04-01 $265,400 (10.1%) $331,478 (6.9%) 0.00 308
2020-05-01 $274,950 (10.0%) $356,233 (12.4%) 0.00 261
2020-06-01 $282,400 (13.0%) $367,660 (13.9%) 0.00 244
2020-07-01 $279,750 (12.1%) $376,837 (16.2%) 0.00 237
2020-08-01 $265,000 (4.4%) $352,751 (5.8%) 0.00 235
2020-09-01 $255,913 (4.2%) $344,762 (3.7%) 0.00 208
2020-10-01 $269,900 (15.1%) $355,648 (8.8%) 0.00 205
2020-11-01 $270,000 (13.4%) $355,759 (10.2%) 0.00 205
2020-12-01 $258,200 (8.0%) $345,879 (6.4%) 0.00 209
2021-01-01 $265,400 (6.6%) $350,045 (8.0%) 0.00 182
2021-02-01 $264,400 (2.9%) $367,538 (12.4%) 0.00 165
2021-03-01 $257,500 (-3.5%) $385,259 (14.5%) 0.00 144
2021-04-01 $282,450 (6.4%) $428,258 (29.2%) 0.00 130
2021-05-01 $279,900 (1.8%) $418,856 (17.6%) 0.00 135
2021-06-01 $270,000 (-4.4%) $411,393 (11.9%) 0.00 145
2021-07-01 $247,450 (-11.6%) $362,763 (-3.7%) 0.00 193
2021-08-01 $249,700 (-5.8%) $344,323 (-2.4%) 0.00 219
2021-09-01 $255,000 (-0.4%) $367,679 (6.7%) 0.00 225
2021-10-01 $258,000 (-4.4%) $377,796 (6.2%) 0.00 224
2021-11-01 $266,000 (-1.5%) $375,579 (5.6%) 0.00 230
2021-12-01 $262,250 (1.6%) $368,836 (6.6%) 0.00 206
2022-01-01 $265,000 (-0.2%) $359,905 (2.8%) 0.00 201
2022-02-01 $268,950 (1.7%) $368,024 (0.1%) 0.00 173
2022-03-01 $279,950 (8.7%) $376,060 (-2.4%) 0.00 164
2022-04-01 $261,000 (-7.6%) $358,819 (-16.2%) 0.00 164
2022-05-01 $289,250 (3.3%) $359,191 (-14.2%) 0.00 189
2022-06-01 $278,000 (3.0%) $343,563 (-16.5%) 0.00 259
2022-07-01 $265,000 (7.1%) $314,962 (-13.2%) 0.00 311
2022-08-01 $265,000 (6.1%) $317,721 (-7.7%) 0.00 337
2022-09-01 $279,450 (9.6%) $330,761 (-10.0%) 0.00 353
2022-10-01 $279,000 (8.1%) $326,295 (-13.6%) 0.00 364
2022-11-01 $299,675 (12.7%) $351,153 (-6.5%) 0.00 374
2022-12-01 $299,900 (14.4%) $356,080 (-3.5%) 0.00 360
2023-01-01 $300,400 (13.4%) $363,100 (0.9%) 0.00 344
2023-02-01 $307,547 (14.4%) $356,978 (-3.0%) 0.00 307
2023-03-01 $310,000 (10.7%) $367,618 (-2.2%) 0.00 288
2023-04-01 $325,000 (24.5%) $393,054 (9.5%) 0.00 275
2023-05-01 $330,900 (14.4%) $404,148 (12.5%) 0.00 308
2023-06-01 $321,850 (15.8%) $389,881 (13.5%) 0.00 319
2023-07-01 $320,000 (20.8%) $384,301 (22.0%) 0.00 330
2023-08-01 $319,950 (20.7%) $387,395 (21.9%) 0.00 330
2023-09-01 $315,000 (12.7%) $383,050 (15.8%) 0.00 322
2023-10-01 $296,700 (6.3%) $363,310 (11.3%) 0.00 386
2023-11-01 $286,475 (-4.4%) $364,482 (3.8%) 0.00 369
2023-12-01 $285,000 (-5.0%) $363,059 (2.0%) 0.00 399
San Angelo's median listing price for 2023-12-01 was $285,000, a difference of $-14,900 (-5.0%) versus the prior year and $-1,475 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 2023-12-01 was $363,059, a difference of $6,979 (2.0%) versus the prior year and $-1,423 versus the prior month.

For the 2023-12-01 period, San Angelo had 399 MLS listings, a difference of 30 listings (8%) versus the prior month and 39 listings (11%) 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 1,846 sqft
2018-02-01 0 days 1,866 sqft
2018-03-01 0 days 1,871 sqft
2018-04-01 0 days 1,907 sqft
2018-05-01 0 days 1,910 sqft
2018-06-01 0 days 1,923 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 1,951 sqft
2018-12-01 0 days 1,943 sqft
2019-01-01 0 days 1,899 sqft
2019-02-01 0 days 1,882 sqft
2019-03-01 0 days 1,927 sqft
2019-04-01 0 days 1,982 sqft
2019-05-01 0 days 2,005 sqft
2019-06-01 0 days 1,973 sqft
2019-07-01 0 days 1,977 sqft
2019-08-01 0 days 1,998 sqft
2019-09-01 0 days 1,982 sqft
2019-10-01 0 days 1,947 sqft
2019-11-01 0 days 1,908 sqft
2019-12-01 0 days 1,866 sqft
2020-01-01 0 days 1,892 sqft
2020-02-01 0 days 1,954 sqft
2020-03-01 0 days 2,003 sqft
2020-04-01 0 days 1,979 sqft
2020-05-01 0 days 2,047 sqft
2020-06-01 0 days 2,058 sqft
2020-07-01 0 days 1,998 sqft
2020-08-01 0 days 1,930 sqft
2020-09-01 0 days 1,888 sqft
2020-10-01 0 days 1,969 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 1,993 sqft
2021-05-01 0 days 1,913 sqft
2021-06-01 0 days 1,917 sqft
2021-07-01 0 days 1,877 sqft
2021-08-01 0 days 1,839 sqft
2021-09-01 0 days 1,878 sqft
2021-10-01 0 days 1,915 sqft
2021-11-01 0 days 1,863 sqft
2021-12-01 0 days 1,904 sqft
2022-01-01 0 days 1,831 sqft
2022-02-01 0 days 1,829 sqft
2022-03-01 0 days 1,897 sqft
2022-04-01 0 days 1,790 sqft
2022-05-01 0 days 1,775 sqft
2022-06-01 0 days 1,804 sqft
2022-07-01 0 days 1,786 sqft
2022-08-01 0 days 1,800 sqft
2022-09-01 0 days 1,820 sqft
2022-10-01 0 days 1,851 sqft
2022-11-01 0 days 1,866 sqft
2022-12-01 0 days 1,841 sqft
2023-01-01 0 days 1,879 sqft
2023-02-01 0 days 1,872 sqft
2023-03-01 0 days 1,884 sqft
2023-04-01 0 days 1,947 sqft
2023-05-01 0 days 1,950 sqft
2023-06-01 0 days 1,902 sqft
2023-07-01 0 days 1,912 sqft
2023-08-01 0 days 1,885 sqft
2023-09-01 0 days 1,869 sqft
2023-10-01 0 days 1,752 sqft
2023-11-01 0 days 1,767 sqft
2023-12-01 0 days 1,766 sqft
San Angelo's median listing age (time on market) for 2023-12-01 was 0 days.

San Angelo's median square footage for active listings during the 2023-12-01 period was 1,766 sqft. One year prior, the average listing was 1,841 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).