Shreveport FHA Loan Rates, Closing Costs & Stats

SHREVEPORT-BOSSIER CITY, LA

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.

Shreveport's 90 lenders originated 1,148 FHA loans during 2023. The total origination value was $230,180,000, with an average FHA loan value of $200,505.

Shreveport FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Shreveport averaged 6.59% for the week of 2024-06-14, compared to the national average (all FHA variants) of 6.712% for the same period.

Shreveport's average FHA mortgage closing costs are $6,736.

The average rate for the prior week (2024-06-07) was 6.58% and one month ago for the week of 2024-05-10, the average rate was 6.66%.

The average rate one year ago was 6.81%.

For refis of the same type during the week of 2024-06-14, the average rate was 6.34%.

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

Shreveport 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 Shreveport level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
FIDELITY BANK 101 6.58% $8,261
EUSTIS AND AMERICAN MORTGAGE COMPANY 72 6.87% $8,663
UNITED WHOLESALE MORTGAGE, LLC 71 6.52% $10,394
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 60 6.87% $8,131
MOVEMENT MORTGAGE, LLC 60 6.69% $8,929
QUICKEN LOANS, LLC 52 6.20% $8,642
PLANET HOME LENDING, LLC 42 7.02% $9,581
NEWREZ LLC 35 6.46% $9,151
Gateway First Bank 34 6.75% $6,785
Assurance Financial Group, L.L.C. 30 6.97% $10,484
DSLD MORTGAGE, LLC 27 6.45% $5,913
Origin Bank 26 6.62% $7,314
Red River Bank 25 6.15% $6,208
BROKER SOLUTIONS, INC. 25 6.84% $11,585
GUILD MORTGAGE COMPANY 24 6.97% $9,084
Equity Prime Mortgage LLC 23 6.93% $10,519
UNION HOME MORTGAGE CORP. 23 6.76% $9,323
BancorpSouth 21 6.29% $7,567
DRAPER AND KRAMER MORTGAGE CORP. 19 6.93% $9,201
PANORAMA MORTGAGE GROUP, LLC 19 6.90% $10,232
MORTGAGE FINANCIAL SERVICES, LLC 14 6.46% $8,725
Regions Bank 12 6.05% $8,794
Home Federal Bank 12 6.53% $6,960
LOANDEPOT.COM, LLC 11 6.29% $9,253
CROSSCOUNTRY MORTGAGE, LLC 10 6.98% $13,466
STOCKTON MORTGAGE CORPORATION 10 6.90% $14,466
HOMESTAR FINANCIAL CORPORATION 10 6.90% $8,121
STANDARD MORTGAGE CORPORATION 9 5.97% $8,236
FirstTrust Home Loans, Inc. 8 6.55% $8,826
AMERICAN PORTFOLIO MORTGAGE CORPORATION 8 6.44% $8,846
CARDINAL FINANCIAL 7 6.38% $7,685
FREEDOM MORTGAGE CORPORATION 7 7.04% $11,751
PENNYMAC LOAN SERVICES, LLC 7 6.05% $9,894
Carrington Mortgage Services, LLC 6 6.27% $8,786
GMFS LLC 6 6.44% $7,309
BARKSDALE 6 6.83% $7,532
JPMorgan Chase Bank 6 6.96% $3,862
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 7.06% $8,954
PIERREMONT MORTGAGE, INC. 5 6.43% $4,112
Mr. Cooper ( Nationstar Mortgage ) 5 6.00% $9,549
HOMEBRIDGE FINANCIAL SERVICES, INC. 5 6.80% $10,075
SUN WEST MORTGAGE COMPANY, INC. 5 6.35% $8,730
GUARANTEED RATE, INC. 4 6.41% $8,645
FIRST COMMUNITY MORTGAGE, INC. 4 6.78% $9,370
ZILLOW HOME LOANS, LLC 3 6.54% $7,854
AMERICAN FINANCIAL NETWORK, INC. 3 7.33% $12,330
BAYSHORE MORTGAGE FUNDING, LLC 3 7.17% $11,646
CALIBER HOME LOANS, INC. 3 5.63% $11,211
LAND HOME FINANCIAL SERVICES, INC. 3 6.83% $10,855
Mortgage Research Center, LLC 3 6.58% $7,193
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.83% $7,974
OCMBC, INC. 3 7.33% $10,409
Plains Commerce Bank 3 6.50% $10,956
RELIANCE FIRST CAPITAL, LLC 3 7.00% $9,151
The Federal Savings Bank 3 6.33% $13,217
Wells Fargo Bank 2 6.63% $6,221
Paramount Residential Mortgage Group, Inc. 2 6.69% $9,227
THRIVE MORTGAGE, LLC 2 6.19% $12,166
Sabine State Bank and Trust Company 2 6.50% $9,794
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.19% $7,954
Trustmark National Bank 2 6.75% $7,158
AMERISAVE MORTGAGE CORPORATION 2 6.44% $9,512
LAKEVIEW LOAN SERVICING, LLC 2 5.88% $9,737
PLAZA HOME MORTGAGE, INC. 2 6.44% $8,711
EMM LOANS LLC 2 6.69% $13,387
Eagle Bank and Trust Company 2 7.06% $9,491
CHURCHILL MORTGAGE CORPORATION 2 6.44% $10,574
Community Bank of Mississippi 1 6.25% $5,512
Citizens Bank 1 6.25% $6,832
AHL FUNDING 1 7.49% $12,921
The Loan Store, Inc. 1 7.13% $14,034
TIB The Independent Bankersbank 1 6.88% $9,157
TOP FLITE FINANCIAL, INC. 1 6.75% $11,635
UNITED SECURITY FINANCIAL CORP 1 7.38% $7,955
M&T Bank 1 6.75% $6,635
Northpointe Bank 1 5.63% $9,946
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $10,880
MEMBER ADVANTAGE MORTGAGE, LLC 1 6.25% $10,477
MID AMERICA MORTGAGE, INC. 1 7.75% $3,606
PENTAGON FEDERAL CREDIT UNION 1 5.38% $10,072
Lakeview Community Capital, LLC 1 5.63% $9,174
VILLAGE CAPITAL MORTGAGE 1 6.38% $10,021
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.12% $14,747
PREMIA MORTGAGE, LLC 1 6.25% $9,122
Prosperity Home Mortgage, LLC 1 7.63% $8,052
Goldwater Bank, N.A. 1 5.25% $8,371
Renasant Bank 1 6.00% $7,998
SENTE MORTGAGE, INC. 1 6.25% $16,928
SIRVA MORTGAGE, INC. 1 7.50% $11,432
SOUTHPOINT FINANCIAL SERVICES, INC. 1 6.75% $8,838

The top Shreveport FHA lender as defined by loan originations is FIDELITY BANK, with 101 FHA loans originated. Their average total fees are $8,261, which is $403 lower than the next largest lender, EUSTIS AND AMERICAN MORTGAGE COMPANY.

The lowest fee Shreveport FHA lenders (with over 10 loans originated) are DSLD MORTGAGE, LLC ($5,913), Red River Bank ($6,208), Gateway First Bank ($6,785), Home Federal Bank ($6,960) and Origin Bank ($7,314).

The lowest rate Shreveport FHA lenders (with over 10 loans originated) are Regions Bank (6.05%), Red River Bank (6.15%), QUICKEN LOANS, LLC (6.20%), BancorpSouth (6.29%) and LOANDEPOT.COM, LLC (6.29%).

Shreveport FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
SHREVEPORT-BOSSIER CITY, LA BOSSIER 2022 $420,680 $538,650 $651,050 $809,150
SHREVEPORT-BOSSIER CITY, LA CADDO 2022 $420,680 $538,650 $651,050 $809,150
SHREVEPORT-BOSSIER CITY, LA DE SOTO 2022 $420,680 $538,650 $651,050 $809,150
SHREVEPORT-BOSSIER CITY, LA BOSSIER 2023 $472,030 $604,400 $730,525 $907,900
SHREVEPORT-BOSSIER CITY, LA CADDO 2023 $472,030 $604,400 $730,525 $907,900
SHREVEPORT-BOSSIER CITY, LA DE SOTO 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Shreveport (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 $183,950 (1.9%) $234,691 (3.0%) 0.68 1,999
2018-02-01 $186,725 (0.9%) $237,327 (2.2%) 0.68 1,991
2018-03-01 $189,900 (2.4%) $239,566 (1.1%) 0.67 2,009
2018-04-01 $193,700 (2.5%) $244,094 (1.3%) 0.66 2,107
2018-05-01 $193,000 (1.6%) $247,816 (2.2%) 0.64 2,101
2018-06-01 $196,900 (3.8%) $250,428 (2.9%) 0.66 2,107
2018-07-01 $194,575 (3.0%) $250,113 (4.1%) 0.65 2,167
2018-08-01 $199,000 (6.7%) $248,394 (3.8%) 0.67 2,173
2018-09-01 $195,000 (5.4%) $247,281 (4.4%) 0.66 2,121
2018-10-01 $199,000 (7.6%) $249,494 (6.6%) 0.67 2,061
2018-11-01 $195,000 (5.5%) $245,764 (5.5%) 0.66 2,048
2018-12-01 $194,000 (5.2%) $244,368 (4.3%) 0.67 2,007
2019-01-01 $195,838 (6.5%) $243,451 (3.7%) 0.68 1,948
2019-02-01 $199,900 (7.1%) $244,467 (3.0%) 0.68 1,984
2019-03-01 $201,014 (5.9%) $247,472 (3.3%) 0.66 2,015
2019-04-01 $203,376 (5.0%) $251,576 (3.1%) 0.65 2,039
2019-05-01 $208,309 (7.9%) $255,137 (3.0%) 0.65 2,010
2019-06-01 $203,683 (3.4%) $250,767 (0.1%) 0.64 1,962
2019-07-01 $200,000 (2.8%) $250,880 (0.3%) 0.63 1,963
2019-08-01 $203,363 (2.2%) $250,449 (0.8%) 0.64 1,949
2019-09-01 $200,909 (3.0%) $250,040 (1.1%) 0.64 1,911
2019-10-01 $197,000 (-1.0%) $248,949 (-0.2%) 0.64 1,879
2019-11-01 $192,900 (-1.1%) $243,706 (-0.8%) 0.63 1,818
2019-12-01 $192,150 (-1.0%) $241,812 (-1.1%) 0.64 1,784
2020-01-01 $192,400 (-1.8%) $245,269 (0.8%) 0.64 1,689
2020-02-01 $190,733 (-4.6%) $245,545 (0.4%) 0.62 1,657
2020-03-01 $195,531 (-2.7%) $251,749 (1.7%) 0.61 1,668
2020-04-01 $199,900 (-1.7%) $254,612 (1.2%) 0.63 1,650
2020-05-01 $207,950 (-0.2%) $256,332 (0.5%) 0.63 1,539
2020-06-01 $209,950 (3.1%) $271,687 (8.3%) 0.62 1,289
2020-07-01 $210,000 (5.0%) $281,242 (12.1%) 0.61 1,233
2020-08-01 $200,000 (-1.7%) $283,878 (13.4%) 0.57 1,151
2020-09-01 $207,450 (3.3%) $284,875 (13.9%) 0.59 1,111
2020-10-01 $199,900 (1.5%) $277,776 (11.6%) 0.57 1,076
2020-11-01 $193,700 (0.4%) $275,379 (13.0%) 0.57 1,043
2020-12-01 $182,500 (-5.0%) $270,239 (11.8%) 0.54 978
2021-01-01 $179,900 (-6.5%) $267,316 (9.0%) 0.54 937
2021-02-01 $179,125 (-6.1%) $270,339 (10.1%) 0.52 792
2021-03-01 $171,975 (-12.1%) $269,653 (7.1%) 0.49 768
2021-04-01 $199,925 (0.0%) $282,935 (11.1%) 0.54 384
2021-05-01 $179,999 (-13.4%) $259,160 (1.1%) 0.48 486
2021-06-01 $182,875 (-12.9%) $261,842 (-3.6%) 0.48 565
2021-07-01 $170,000 (-19.1%) $260,412 (-7.4%) 0.45 701
2021-08-01 $168,475 (-15.8%) $247,952 (-12.7%) 0.45 755
2021-09-01 $162,450 (-21.7%) $236,592 (-17.0%) 0.43 779
2021-10-01 $165,000 (-17.5%) $251,286 (-9.5%) 0.44 702
2021-11-01 $162,475 (-16.1%) $246,107 (-10.6%) 0.43 735
2021-12-01 $162,875 (-10.8%) $242,638 (-10.2%) 0.44 718
2022-01-01 $167,500 (-6.9%) $242,146 (-9.4%) 0.45 626
2022-02-01 $167,075 (-6.7%) $249,169 (-7.8%) 0.43 550
2022-03-01 $180,813 (5.1%) $278,890 (3.4%) 0.45 477
2022-04-01 $199,900 (0.0%) $286,714 (1.3%) 0.48 485
2022-05-01 $205,425 (14.1%) $288,842 (11.5%) 0.47 518
2022-06-01 $229,900 (25.7%) $314,081 (20.0%) 0.51 603
2022-07-01 $235,000 (38.2%) $316,226 (21.4%) 0.53 728
2022-08-01 $225,000 (33.6%) $299,938 (21.0%) 0.52 762
2022-09-01 $219,000 (34.8%) $290,493 (22.8%) 0.51 814
2022-10-01 $220,000 (33.3%) $288,998 (15.0%) 0.52 841
2022-11-01 $229,450 (41.2%) $291,502 (18.5%) 0.55 865
2022-12-01 $229,000 (40.6%) $281,072 (15.8%) 0.57 854
2023-01-01 $229,000 (36.7%) $282,286 (16.6%) 0.57 802
2023-02-01 $229,000 (37.1%) $283,302 (13.7%) 0.55 747
2023-03-01 $234,725 (29.8%) $289,590 (3.8%) 0.55 764
2023-04-01 $239,950 (20.0%) $295,412 (3.0%) 0.56 793
2023-05-01 $237,100 (15.4%) $288,860 (0.0%) 0.54 787
2023-06-01 $247,500 (7.7%) $286,596 (-8.8%) 0.56 837
2023-07-01 $253,600 (7.9%) $291,783 (-7.7%) 0.58 868
2023-08-01 $247,200 (9.9%) $289,880 (-3.4%) 0.57 1,029
2023-09-01 $245,000 (11.9%) $288,794 (-0.6%) 0.57 1,062
2023-10-01 $246,500 (12.1%) $287,308 (-0.6%) 0.58 1,105
2023-11-01 $249,450 (8.7%) $294,409 (1.0%) 0.59 1,152
2023-12-01 $245,500 (7.2%) $289,758 (3.1%) 0.60 1,126
2024-01-01 $249,900 (9.1%) $289,657 (2.6%) 0.61 1,059
2024-02-01 $245,675 (7.3%) $294,333 (3.9%) 0.59 1,051
2024-03-01 $242,500 (3.3%) $295,438 (2.0%) 0.57 1,057
2024-04-01 $239,975 (0.0%) $302,326 (2.3%) 0.56 1,065
2024-05-01 $239,800 (1.1%) $306,150 (6.0%) 0.54 1,130
Shreveport's median listing price for 2024-05-01 was $239,800, a difference of $2,700 (1.1%) versus the prior year and $-175 versus the prior month.

Shreveport's median listing price comes in at 54% of the national average.

Shreveport's average listing price for 2024-05-01 was $306,150, a difference of $17,290 (6.0%) versus the prior year and $3,824 versus the prior month.

For the 2024-05-01 period, Shreveport had 1,130 MLS listings, a difference of 65 listings (6%) versus the prior month and 343 listings (44%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Shreveport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 88 days 1,860 sqft
2018-02-01 89 days 1,872 sqft
2018-03-01 71 days 1,883 sqft
2018-04-01 62 days 1,900 sqft
2018-05-01 64 days 1,913 sqft
2018-06-01 67 days 1,933 sqft
2018-07-01 68 days 1,932 sqft
2018-08-01 71 days 1,939 sqft
2018-09-01 78 days 1,940 sqft
2018-10-01 82 days 1,944 sqft
2018-11-01 84 days 1,922 sqft
2018-12-01 86 days 1,894 sqft
2019-01-01 89 days 1,889 sqft
2019-02-01 80 days 1,900 sqft
2019-03-01 73 days 1,909 sqft
2019-04-01 66 days 1,928 sqft
2019-05-01 66 days 1,934 sqft
2019-06-01 73 days 1,914 sqft
2019-07-01 73 days 1,914 sqft
2019-08-01 72 days 1,906 sqft
2019-09-01 73 days 1,891 sqft
2019-10-01 74 days 1,870 sqft
2019-11-01 74 days 1,849 sqft
2019-12-01 81 days 1,844 sqft
2020-01-01 83 days 1,849 sqft
2020-02-01 74 days 1,840 sqft
2020-03-01 64 days 1,862 sqft
2020-04-01 68 days 1,877 sqft
2020-05-01 75 days 1,889 sqft
2020-06-01 71 days 1,931 sqft
2020-07-01 65 days 1,940 sqft
2020-08-01 59 days 1,945 sqft
2020-09-01 56 days 1,958 sqft
2020-10-01 56 days 1,928 sqft
2020-11-01 63 days 1,899 sqft
2020-12-01 68 days 1,862 sqft
2021-01-01 69 days 1,818 sqft
2021-02-01 58 days 1,789 sqft
2021-03-01 55 days 1,789 sqft
2021-04-01 20 days 1,912 sqft
2021-05-01 31 days 1,786 sqft
2021-06-01 42 days 1,785 sqft
2021-07-01 38 days 1,729 sqft
2021-08-01 47 days 1,709 sqft
2021-09-01 51 days 1,669 sqft
2021-10-01 58 days 1,714 sqft
2021-11-01 53 days 1,713 sqft
2021-12-01 59 days 1,694 sqft
2022-01-01 71 days 1,696 sqft
2022-02-01 72 days 1,692 sqft
2022-03-01 57 days 1,735 sqft
2022-04-01 50 days 1,732 sqft
2022-05-01 42 days 1,800 sqft
2022-06-01 35 days 1,848 sqft
2022-07-01 38 days 1,828 sqft
2022-08-01 46 days 1,823 sqft
2022-09-01 54 days 1,800 sqft
2022-10-01 54 days 1,804 sqft
2022-11-01 59 days 1,832 sqft
2022-12-01 65 days 1,830 sqft
2023-01-01 74 days 1,829 sqft
2023-02-01 63 days 1,834 sqft
2023-03-01 58 days 1,870 sqft
2023-04-01 52 days 1,854 sqft
2023-05-01 55 days 1,793 sqft
2023-06-01 52 days 1,791 sqft
2023-07-01 53 days 1,864 sqft
2023-08-01 53 days 1,838 sqft
2023-09-01 58 days 1,868 sqft
2023-10-01 62 days 1,871 sqft
2023-11-01 63 days 1,900 sqft
2023-12-01 66 days 1,866 sqft
2024-01-01 80 days 1,872 sqft
2024-02-01 70 days 1,849 sqft
2024-03-01 56 days 1,842 sqft
2024-04-01 54 days 1,849 sqft
2024-05-01 51 days 1,853 sqft
Shreveport's median listing age (time on market) for 2024-05-01 was 51 days. This is -8% shorter than the same period one year ago.

Shreveport's median square footage for active listings during the 2024-05-01 period was 1,853 sqft. One year prior, the average listing was 1,793 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).