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 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 6.57% for the week of 2024-07-05, compared to the national average (all FHA variants) of 6.724% for the same period.

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

The average rate for the prior week (2024-06-28) was 6.73% and one month ago for the week of 2024-05-31, the average rate was 6.72%.

The average rate one year ago was 6.89%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.62%.

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 $299,900 (-7.0%) $359,384 (-8.2%) 0.00 477
San Angelo's median listing price for 2024-06-01 was $299,900, a difference of $-22,563 (-7.0%) versus the prior year and $0 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 2024-06-01 was $359,384, a difference of $-32,214 (-8.2%) versus the prior year and $-8,984 versus the prior month.

For the 2024-06-01 period, San Angelo had 477 MLS listings, a difference of 48 listings (11%) versus the prior month and 156 listings (49%) 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
San Angelo's median listing age (time on market) for 2024-06-01 was 0 days.

San Angelo's median square footage for active listings during the 2024-06-01 period was 1,796 sqft. One year prior, the average listing was 1,903 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).