Shreveport FHA Loans

SHREVEPORT-BOSSIER CITY, LA

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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.

    Shreveport's 110 lenders originated 2,640 FHA loans during 2021. The total origination value was $468,090,000, with an average FHA loan value of $177,307.

    Shreveport FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Shreveport averaged 5.12% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

    The average rate for the prior week (2022-05-13) was 5.12% and one month ago for the week of 2022-04-15, the average rate was 4.81%.

    The average rate one year ago was 3.28%.

    For refis of the same type during the week of 2022-05-20, the average rate was 4.96%.

    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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Shreveport level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    PLANET HOME LENDING, LLC 171 3.73% $7,634
    Home Federal Bank 153 3.35% $6,789
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 146 3.50% $7,305
    EUSTIS AND AMERICAN MORTGAGE COMPANY 126 3.11% $7,223
    CALIBER HOME LOANS, INC. 114 2.84% $5,883
    FIDELITY BANK 114 3.23% $7,012
    QUICKEN LOANS, LLC 114 2.78% $5,508
    Mr. Cooper ( Nationstar Mortgage ) 72 3.43% $3,359
    LAKEVIEW LOAN SERVICING, LLC 69 3.01% $4,284
    SOUTHWEST FUNDING, LP 66 3.76% $9,847
    MOVEMENT MORTGAGE, LLC 61 3.30% $6,240
    NATIONS DIRECT MORTGAGE, LLC 59 3.08% $7,488
    Goldwater Bank, N.A. 55 3.27% $7,074
    Red River Bank 53 2.67% $6,131
    UNITED WHOLESALE MORTGAGE, LLC 51 2.82% $6,894
    THRIVE MORTGAGE, LLC 49 3.45% $8,355
    HOMESPIRE MORTGAGE CORPORATION 46 3.55% $8,196
    PENNYMAC LOAN SERVICES, LLC 42 2.95% $4,676
    BancorpSouth Bank 39 3.05% $6,467
    Carrington Mortgage Services, LLC 38 3.79% $6,848
    FREEDOM MORTGAGE CORPORATION 38 2.95% $4,201
    DSLD MORTGAGE, LLC 37 2.73% $5,016
    UNION HOME MORTGAGE CORP. 36 3.54% $6,564
    HOMEBRIDGE FINANCIAL SERVICES, INC. 34 2.84% $7,019
    PLAZA HOME MORTGAGE, INC. 26 3.22% $6,279
    VILLAGE CAPITAL & INVESTMENT LLC 23 2.99% $1,967
    STANDARD MORTGAGE CORPORATION 22 2.51% $6,554
    Assurance Financial Group, L.L.C. 19 2.99% $6,539
    GMFS LLC 19 2.80% $6,071
    Origin Bank 18 3.00% $6,817
    Cross Keys Bank 16 2.73% $6,907
    MID AMERICA MORTGAGE, INC. 16 3.07% $4,416
    FirstTrust Home Loans, Inc. 15 3.08% $7,721
    AmeriHome Mortgage Company, LLC 15 2.91% $4,311
    NATIONS RELIABLE LENDING, LLC 13 3.47% $8,909
    First Guaranty Mortgage Corporation 12 3.01% $5,158
    NEWREZ LLC 12 2.92% $5,833
    Regions Bank 12 3.21% $6,391
    Lakeview Community Capital, LLC 10 2.92% $4,033
    LOANDEPOT.COM, LLC 9 3.31% $7,783
    BAYSHORE MORTGAGE FUNDING, LLC 8 3.80% $8,045
    Equity Prime Mortgage LLC 8 3.19% $7,635
    AMERICAN FINANCIAL NETWORK, INC. 8 3.22% $9,511
    BARKSDALE 8 3.02% $6,951
    GUILD MORTGAGE COMPANY 7 3.64% $7,466
    PIERREMONT MORTGAGE, INC. 7 2.55% $4,386
    SUN WEST MORTGAGE COMPANY, INC. 6 3.27% $6,394
    HOME POINT FINANCIAL CORPORATION 6 2.56% $6,070
    Austin Capital Bank SSB 6 3.56% $8,899
    Barrington Bank & Trust Company, N.A. 6 3.17% $6,863
    Citizens Bank 5 2.60% $8,449
    AMERISAVE MORTGAGE CORPORATION 5 2.95% $7,846
    Shamrock Home Loans, Inc. 5 3.60% $6,964
    Gateway First Bank 4 3.66% $6,486
    FBT Mortgage, L.L.C. 4 2.28% $7,600
    PRIMARY RESIDENTIAL MORTGAGE, INC. 4 3.53% $6,358
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.19% $7,959
    Mortgage Research Center, LLC 4 3.22% $4,428
    GSF Mortgage Corporation 4 3.41% $10,724
    UNITED SECURITY FINANCIAL CORP 3 3.12% $5,233
    MORTGAGE FINANCIAL SERVICES, LLC 3 3.33% $6,532
    TOWNE MORTGAGE COMPANY 3 3.17% $7,637
    SWBC MORTGAGE CORPORATION 3 3.25% $5,472
    SOUTHWEST STAGE FUNDING, LLC 3 2.79% $6,363
    BROKER SOLUTIONS, INC. 3 2.87% $7,832
    ZILLOW HOME LOANS, LLC 2 2.56% $10,850
    First Savings Bank 2 3.19% $11,965
    Flagstar Bank, FSB 2 2.63% $4,645
    CMG MORTGAGE, INC. 2 3.06% $8,420
    OCMBC, INC. 2 3.44% $5,882
    OPEN MORTGAGE, LLC 2 3.75% $8,977
    Bank of England 2 3.06% $10,846
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 3.56% $4,493
    RESIDENTIAL BANCORP. 2 4.13% $7,984
    Sabine State Bank and Trust Company 2 2.69% $10,037
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 3.25% $4,616
    American Mortgage Bank, LLC 2 3.69% $7,077
    Trustmark National Bank 2 3.00% $7,455
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.25% $4,870
    Paramount Residential Mortgage Group, Inc. 1 3.13% $6,934
    JPMorgan Chase Bank 1 3.25% $3,573
    InterContinental Capital Group, Inc 1 3.00% $7,382
    Plains Commerce Bank 1 2.63% $11,290
    Wells Fargo Bank 1 2.88% $5,768
    Hometown Equity Mortgage, LLC 1 3.75% $4,461
    PREMIA MORTGAGE, LLC 1 2.75% $7,485
    CIS Financial Services, Inc. 1 5.13% $3,611
    AMERICAN FINANCING CORPORATION 1 3.13% $4,790
    AmRes Corporation 1 2.88% $11,224
    Gulf Coast Bank and Trust Company 1 2.88% $5,164
    Renasant Bank 1 2.25% $5,120
    DELMAR FINANCIAL COMPANY 1 3.13% $6,660
    EMBRACE HOME LOANS, INC. 1 3.25% $4,021
    GUARANTEED RATE, INC. 1 3.50% $5,755
    COUNTRYPLACE MORTGAGE, LTD. 1 3.25% $7,608
    CROSSCOUNTRY MORTGAGE, LLC 1 2.99% $9,163
    FBC MORTGAGE, LLC 1 2.88% $6,696
    Sunflower Bank 1 2.99% $7,755
    DAS Acquisition Company, LLC 1 2.99% $6,991
    AMCAP MORTGAGE, LTD. 1 4.50% $7,034
    MIDLAND MORTGAGE CORPORATION 1 2.75% $5,157
    BETTER MORTGAGE CORPORATION 1 3.13% $5,929
    Capital Bank 1 2.38% $6,289
    MICHIGAN MUTUAL, INC. 1 2.88% $4,315
    NEW DAY FINANCIAL, LLC 1 3.75% $3,419
    MEMBER ADVANTAGE MORTGAGE, LLC 1 3.25% $9,077
    North American Savings Bank, F.S.B. 1 2.75% $4,053
    Waterstone Mortgage Corporation 1 3.50% $8,614
    FIRST COMMUNITY MORTGAGE, INC. 1 2.63% $7,636
    Magnolia Bank 1 2.88% $13,536

    The top Shreveport FHA lender as defined by loan originations is PLANET HOME LENDING, LLC, with 171 FHA loans originated. Their average total fees are $7,634, which is $845 higher than the next largest lender, Home Federal Bank.

    The lowest fee Shreveport FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($1,967), Mr. Cooper ( Nationstar Mortgage ) ($3,359), Lakeview Community Capital, LLC ($4,033), FREEDOM MORTGAGE CORPORATION ($4,201) and LAKEVIEW LOAN SERVICING, LLC ($4,284).

    The lowest rate Shreveport FHA lenders (with over 10 loans originated) are STANDARD MORTGAGE CORPORATION (2.51%), Red River Bank (2.67%), DSLD MORTGAGE, LLC (2.73%), Cross Keys Bank (2.73%) and QUICKEN LOANS, LLC (2.78%).

    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

    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 $179,950 (1.3%) $230,330 (2.8%) 0.66 2,121
    2018-02-01 $184,900 (1.3%) $233,506 (1.6%) 0.67 2,115
    2018-03-01 $185,900 (1.1%) $235,982 (0.9%) 0.64 2,150
    2018-04-01 $189,750 (2.0%) $240,864 (1.1%) 0.64 2,229
    2018-05-01 $189,900 (0.6%) $243,926 (2.0%) 0.63 2,227
    2018-06-01 $192,000 (2.0%) $245,885 (2.5%) 0.64 2,231
    2018-07-01 $189,900 (2.2%) $244,666 (3.2%) 0.63 2,305
    2018-08-01 $194,900 (5.5%) $243,579 (3.6%) 0.65 2,313
    2018-09-01 $190,000 (4.4%) $242,643 (4.4%) 0.64 2,261
    2018-10-01 $194,250 (7.7%) $244,416 (6.2%) 0.65 2,186
    2018-11-01 $190,000 (5.6%) $241,650 (5.4%) 0.64 2,162
    2018-12-01 $189,900 (5.6%) $239,877 (4.4%) 0.65 2,119
    2019-01-01 $191,450 (6.4%) $238,730 (3.7%) 0.66 2,055
    2019-02-01 $197,200 (6.7%) $239,903 (2.7%) 0.66 2,094
    2019-03-01 $197,800 (6.4%) $242,855 (2.9%) 0.64 2,118
    2019-04-01 $199,250 (5.0%) $246,880 (2.5%) 0.63 2,137
    2019-05-01 $199,950 (5.3%) $249,624 (2.3%) 0.62 2,133
    2019-06-01 $199,000 (3.7%) $245,850 (0.0%) 0.61 2,082
    2019-07-01 $199,500 (5.1%) $246,292 (0.7%) 0.62 2,093
    2019-08-01 $199,086 (2.2%) $244,499 (0.4%) 0.63 2,054
    2019-09-01 $196,500 (3.4%) $242,073 (-0.2%) 0.62 1,984
    2019-10-01 $193,500 (-0.4%) $242,760 (-0.7%) 0.62 1,980
    2019-11-01 $189,900 (-0.1%) $239,370 (-0.9%) 0.61 1,937
    2019-12-01 $189,000 (-0.5%) $237,326 (-1.1%) 0.63 1,899
    2020-01-01 $189,000 (-1.3%) $239,094 (0.2%) 0.63 1,801
    2020-02-01 $189,000 (-4.2%) $240,921 (0.4%) 0.61 1,767
    2020-03-01 $192,888 (-2.5%) $246,753 (1.6%) 0.60 1,777
    2020-04-01 $197,000 (-1.1%) $249,241 (1.0%) 0.61 1,755
    2020-05-01 $199,900 (0.0%) $251,077 (0.6%) 0.61 1,641
    2020-06-01 $208,000 (4.5%) $268,319 (9.1%) 0.61 1,368
    2020-07-01 $208,500 (4.5%) $275,743 (12.0%) 0.60 1,319
    2020-08-01 $199,900 (0.4%) $277,959 (13.7%) 0.57 1,249
    2020-09-01 $199,999 (1.8%) $278,816 (15.2%) 0.57 1,196
    2020-10-01 $198,500 (2.6%) $271,442 (11.8%) 0.57 1,159
    2020-11-01 $188,900 (-0.5%) $267,236 (11.6%) 0.54 1,130
    2020-12-01 $179,700 (-4.9%) $263,475 (11.0%) 0.53 1,054
    2021-01-01 $178,000 (-5.8%) $260,643 (9.0%) 0.52 1,009
    2021-02-01 $176,950 (-6.4%) $262,130 (8.8%) 0.51 859
    2021-03-01 $169,450 (-12.2%) $261,699 (6.1%) 0.48 838
    2021-04-01 $194,500 (-1.3%) $273,324 (9.7%) 0.52 416
    2021-05-01 $179,999 (-10.0%) $254,587 (1.4%) 0.47 509
    2021-06-01 $184,650 (-11.2%) $258,324 (-3.7%) 0.48 586
    2021-07-01 $173,500 (-16.8%) $256,320 (-7.0%) 0.45 710
    2021-08-01 $166,300 (-16.8%) $243,855 (-12.3%) 0.44 794
    2021-09-01 $161,500 (-19.3%) $234,067 (-16.1%) 0.43 822
    2021-10-01 $169,000 (-14.9%) $247,502 (-8.8%) 0.44 749
    2021-11-01 $162,400 (-14.0%) $244,738 (-8.4%) 0.43 780
    2021-12-01 $164,950 (-8.2%) $241,720 (-8.3%) 0.44 771
    2022-01-01 $165,000 (-7.3%) $242,342 (-7.0%) 0.44 666
    2022-02-01 $165,750 (-6.3%) $249,929 (-4.7%) 0.42 595
    2022-03-01 $177,475 (4.7%) $272,869 (4.3%) 0.44 519
    2022-04-01 $190,000 (-2.3%) $278,892 (2.0%) 0.45 509
    Shreveport's median listing price for 2022-04-01 was $190,000, a difference of $-4,500 (-2.3%) versus the prior year and $12,525 versus the prior month.

    Shreveport's median listing price comes in at 45% of the national average.

    Shreveport's average listing price for 2022-04-01 was $278,892, a difference of $5,568 (2.0%) versus the prior year and $6,023 versus the prior month.

    For the 2022-04-01 period, Shreveport had 509 MLS listings, a difference of -10 listings (-2%) versus the prior month and 93 listings (22%) 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 91 days 1,855 sqft
    2018-02-01 92 days 1,869 sqft
    2018-03-01 72 days 1,874 sqft
    2018-04-01 65 days 1,897 sqft
    2018-05-01 66 days 1,905 sqft
    2018-06-01 68 days 1,919 sqft
    2018-07-01 71 days 1,923 sqft
    2018-08-01 73 days 1,935 sqft
    2018-09-01 79 days 1,940 sqft
    2018-10-01 85 days 1,944 sqft
    2018-11-01 89 days 1,920 sqft
    2018-12-01 93 days 1,893 sqft
    2019-01-01 94 days 1,886 sqft
    2019-02-01 86 days 1,895 sqft
    2019-03-01 70 days 1,904 sqft
    2019-04-01 70 days 1,918 sqft
    2019-05-01 71 days 1,919 sqft
    2019-06-01 78 days 1,904 sqft
    2019-07-01 79 days 1,904 sqft
    2019-08-01 74 days 1,893 sqft
    2019-09-01 74 days 1,876 sqft
    2019-10-01 78 days 1,859 sqft
    2019-11-01 80 days 1,848 sqft
    2019-12-01 86 days 1,835 sqft
    2020-01-01 88 days 1,829 sqft
    2020-02-01 84 days 1,825 sqft
    2020-03-01 69 days 1,854 sqft
    2020-04-01 72 days 1,864 sqft
    2020-05-01 81 days 1,883 sqft
    2020-06-01 79 days 1,939 sqft
    2020-07-01 69 days 1,942 sqft
    2020-08-01 61 days 1,954 sqft
    2020-09-01 58 days 1,965 sqft
    2020-10-01 61 days 1,940 sqft
    2020-11-01 65 days 1,901 sqft
    2020-12-01 74 days 1,860 sqft
    2021-01-01 72 days 1,828 sqft
    2021-02-01 64 days 1,803 sqft
    2021-03-01 58 days 1,802 sqft
    2021-04-01 20 days 1,931 sqft
    2021-05-01 35 days 1,824 sqft
    2021-06-01 42 days 1,807 sqft
    2021-07-01 37 days 1,751 sqft
    2021-08-01 49 days 1,713 sqft
    2021-09-01 52 days 1,682 sqft
    2021-10-01 58 days 1,722 sqft
    2021-11-01 55 days 1,721 sqft
    2021-12-01 59 days 1,707 sqft
    2022-01-01 71 days 1,706 sqft
    2022-02-01 71 days 1,699 sqft
    2022-03-01 59 days 1,759 sqft
    2022-04-01 56 days 1,738 sqft
    Shreveport's median listing age (time on market) for 2022-04-01 was 56 days. This is 187% longer than the same period one year ago.

    Shreveport's median square footage for active listings during the 2022-04-01 period was 1,738 sqft. One year prior, the average listing was 1,931 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).