Snyder FHA Loan Rates, Closing Costs & Stats

Snyder, 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.

    Snyder's 14 lenders originated 42 FHA loans during 2023. The total origination value was $6,930,000, with an average FHA loan value of $165,000.

    Snyder FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Snyder averaged 6.72% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Snyder's average FHA mortgage closing costs are $6,792.

    The average rate for the prior week (2024-04-12) was 6.61% and one month ago for the week of 2024-03-15, the average rate was 6.88%.

    The average rate one year ago was 6.31%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.76%.

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

    Snyder 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 Snyder level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    LOANDEPOT.COM, LLC 7 6.68% $8,754
    MANN FINANCIAL INC. 6 7.52% $8,253
    INTERLINC MORTGAGE SERVICES, LLC 5 7.02% $10,212
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 7.13% $4,805
    CARDINAL FINANCIAL 3 6.75% $8,258
    Jefferson Bank 3 6.04% $12,018
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.79% $10,387
    First United Bank 1 6.99% $5,171
    TEXAS TECH 1 6.63% $8,717
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.75% $13,101
    City Bank 1 6.75% $6,352
    NFM, INC. 1 6.63% $17,393
    Flagstar Bank, FSB 1 7.25% $6,286
    GUILD MORTGAGE COMPANY 1 5.50% $15,028

    The top Snyder FHA lender as defined by loan originations is LOANDEPOT.COM, LLC, with 7 FHA loans originated. Their average total fees are $8,754, which is $501 higher than the next largest lender, MANN FINANCIAL INC..

    The lowest fee Snyder FHA lenders (with over 10 loans originated) are .

    The lowest rate Snyder FHA lenders (with over 10 loans originated) are .

    Snyder FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    SNYDER, TX SCURRY 2022 $420,680 $538,650 $651,050 $809,150
    SNYDER, TX SCURRY 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Snyder (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 $128,125 (-14.0%) $163,744 (-7.3%) 0.00 117
    2018-02-01 $127,125 (-15.0%) $167,737 (-6.6%) 0.00 118
    2018-03-01 $125,000 (-17.9%) $164,780 (-8.0%) 0.00 123
    2018-04-01 $126,575 (-15.1%) $164,001 (-8.0%) 0.00 126
    2018-05-01 $131,175 (-12.0%) $167,484 (-12.2%) 0.00 122
    2018-06-01 $139,000 (-6.2%) $172,388 (-7.3%) 0.00 121
    2018-07-01 $141,500 (6.8%) $168,574 (-4.4%) 0.00 121
    2018-08-01 $131,200 (1.3%) $161,728 (-6.8%) 0.00 127
    2018-09-01 $124,450 (-4.2%) $149,705 (-16.2%) 0.00 122
    2018-10-01 $125,000 (0.0%) $151,116 (-10.1%) 0.00 113
    2018-11-01 $124,000 (-2.7%) $335,364 (99.6%) 0.00 107
    2018-12-01 $123,500 (-1.2%) $359,232 (118.5%) 0.00 103
    2019-01-01 $120,625 (-5.9%) $382,329 (133.5%) 0.00 90
    2019-02-01 $113,500 (-10.7%) $393,322 (134.5%) 0.00 81
    2019-03-01 $106,857 (-14.5%) $379,672 (130.4%) 0.00 85
    2019-04-01 $102,856 (-18.7%) $343,383 (109.4%) 0.00 99
    2019-05-01 $115,500 (-12.0%) $334,229 (99.6%) 0.00 103
    2019-06-01 $125,000 (-10.1%) $329,701 (91.3%) 0.00 104
    2019-07-01 $125,000 (-11.7%) $318,988 (89.2%) 0.00 111
    2019-08-01 $126,145 (-3.9%) $192,918 (19.3%) 0.00 104
    2019-09-01 $122,689 (-1.4%) $162,952 (8.9%) 0.00 94
    2019-10-01 $122,884 (-1.7%) $142,368 (-5.8%) 0.00 87
    2019-11-01 $125,000 (0.8%) $135,719 (-59.5%) 0.00 81
    2019-12-01 $125,000 (1.2%) $132,756 (-63.0%) 0.00 80
    2020-01-01 $126,875 (5.2%) $140,748 (-63.2%) 0.00 73
    2020-02-01 $128,000 (12.8%) $139,533 (-64.5%) 0.00 69
    2020-03-01 $129,600 (21.3%) $145,630 (-61.6%) 0.00 74
    2020-04-01 $133,650 (29.9%) $153,577 (-55.3%) 0.00 81
    2020-05-01 $134,950 (16.8%) $146,599 (-56.1%) 0.00 71
    2020-06-01 $134,950 (8.0%) $147,282 (-55.3%) 0.00 67
    2020-07-01 $137,000 (9.6%) $148,962 (-53.3%) 0.00 63
    2020-08-01 $137,000 (8.6%) $157,137 (-18.6%) 0.00 51
    2020-09-01 $139,000 (13.3%) $164,944 (1.2%) 0.00 50
    2020-10-01 $140,000 (13.9%) $181,115 (27.2%) 0.00 50
    2020-11-01 $167,975 (34.4%) $187,457 (38.1%) 0.00 53
    2020-12-01 $152,475 (22.0%) $185,132 (39.5%) 0.00 54
    2021-01-01 $144,500 (13.9%) $173,355 (23.2%) 0.00 53
    2021-02-01 $144,475 (12.9%) $184,621 (32.3%) 0.00 39
    2021-03-01 $152,200 (17.4%) $201,090 (38.1%) 0.00 34
    2021-04-01 $140,500 (5.1%) $171,816 (11.9%) 0.00 33
    2021-05-01 $149,450 (10.7%) $174,051 (18.7%) 0.00 36
    2021-06-01 $133,500 (-1.1%) $172,217 (16.9%) 0.00 30
    2021-07-01 $130,000 (-5.1%) $162,049 (8.8%) 0.00 33
    2021-08-01 $151,000 (10.2%) $217,738 (38.6%) 0.00 34
    2021-09-01 $142,500 (2.5%) $209,623 (27.1%) 0.00 35
    2021-10-01 $168,500 (20.4%) $180,370 (-0.4%) 0.00 40
    2021-11-01 $143,750 (-14.4%) $180,395 (-3.8%) 0.00 48
    2021-12-01 $150,000 (-1.6%) $188,898 (2.0%) 0.00 47
    2022-01-01 $170,000 (17.7%) $197,722 (14.1%) 0.00 45
    2022-02-01 $149,000 (3.1%) $195,327 (5.8%) 0.00 46
    2022-03-01 $149,000 (-2.1%) $183,320 (-8.8%) 0.00 42
    2022-04-01 $156,000 (11.0%) $184,708 (7.5%) 0.00 45
    2022-05-01 $173,500 (16.1%) $196,718 (13.0%) 0.00 47
    2022-06-01 $183,500 (37.5%) $219,372 (27.4%) 0.00 49
    2022-07-01 $180,000 (38.5%) $225,137 (38.9%) 0.00 49
    2022-08-01 $170,000 (12.6%) $226,265 (3.9%) 0.00 49
    2022-09-01 $148,500 (4.2%) $205,038 (-2.2%) 0.00 50
    2022-10-01 $143,600 (-14.8%) $181,860 (0.8%) 0.00 44
    2022-11-01 $173,250 (20.5%) $190,660 (5.7%) 0.00 42
    2022-12-01 $165,000 (10.0%) $192,400 (1.9%) 0.00 37
    2023-01-01 $172,000 (1.2%) $206,200 (4.3%) 0.00 37
    2023-02-01 $160,000 (7.4%) $185,835 (-4.9%) 0.00 38
    2023-03-01 $189,000 (26.9%) $239,505 (30.7%) 0.00 40
    2023-04-01 $174,450 (11.8%) $239,481 (29.7%) 0.00 37
    2023-05-01 $148,500 (-14.4%) $220,801 (12.2%) 0.00 37
    2023-06-01 $147,110 (-19.8%) $209,505 (-4.5%) 0.00 38
    2023-07-01 $149,450 (-17.0%) $179,086 (-20.5%) 0.00 35
    2023-08-01 $145,325 (-14.5%) $179,284 (-20.8%) 0.00 34
    2023-09-01 $150,750 (1.5%) $182,627 (-10.9%) 0.00 39
    2023-10-01 $147,500 (2.7%) $175,560 (-3.5%) 0.00 44
    2023-11-01 $143,125 (-17.4%) $176,275 (-7.6%) 0.00 43
    2023-12-01 $142,000 (-13.9%) $179,623 (-6.6%) 0.00 35
    2024-01-01 $140,000 (-18.6%) $176,853 (-14.2%) 0.00 39
    2024-02-01 $141,000 (-11.9%) $175,109 (-5.8%) 0.00 44
    2024-03-01 $162,000 (-14.3%) $199,769 (-16.6%) 0.00 42
    Snyder's median listing price for 2024-03-01 was $162,000, a difference of $-27,000 (-14.3%) versus the prior year and $21,000 versus the prior month.

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

    Snyder's average listing price for 2024-03-01 was $199,769, a difference of $-39,736 (-16.6%) versus the prior year and $24,660 versus the prior month.

    For the 2024-03-01 period, Snyder had 42 MLS listings, a difference of -2 listings (-5%) versus the prior month and 2 listings (5%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Snyder (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,750 sqft
    2018-02-01 0 days 1,803 sqft
    2018-03-01 0 days 1,797 sqft
    2018-04-01 0 days 1,791 sqft
    2018-05-01 0 days 1,784 sqft
    2018-06-01 0 days 1,778 sqft
    2018-07-01 0 days 1,928 sqft
    2018-08-01 0 days 1,851 sqft
    2018-09-01 0 days 1,735 sqft
    2018-10-01 0 days 1,688 sqft
    2018-11-01 0 days 1,735 sqft
    2018-12-01 0 days 1,751 sqft
    2019-01-01 0 days 1,759 sqft
    2019-02-01 0 days 1,767 sqft
    2019-03-01 0 days 1,711 sqft
    2019-04-01 0 days 1,651 sqft
    2019-05-01 0 days 1,650 sqft
    2019-06-01 0 days 1,730 sqft
    2019-07-01 0 days 1,713 sqft
    2019-08-01 0 days 1,692 sqft
    2019-09-01 0 days 1,661 sqft
    2019-10-01 0 days 1,643 sqft
    2019-11-01 0 days 1,633 sqft
    2019-12-01 0 days 1,630 sqft
    2020-01-01 0 days 1,639 sqft
    2020-02-01 0 days 1,654 sqft
    2020-03-01 0 days 1,665 sqft
    2020-04-01 0 days 1,653 sqft
    2020-05-01 0 days 1,654 sqft
    2020-06-01 0 days 1,665 sqft
    2020-07-01 0 days 1,665 sqft
    2020-08-01 0 days 1,683 sqft
    2020-09-01 0 days 1,754 sqft
    2020-10-01 0 days 1,756 sqft
    2020-11-01 0 days 1,740 sqft
    2020-12-01 0 days 1,705 sqft
    2021-01-01 0 days 1,694 sqft
    2021-02-01 0 days 1,701 sqft
    2021-03-01 0 days 1,849 sqft
    2021-04-01 0 days 1,700 sqft
    2021-05-01 0 days 1,611 sqft
    2021-06-01 0 days 1,545 sqft
    2021-07-01 0 days 1,468 sqft
    2021-08-01 0 days 1,681 sqft
    2021-09-01 0 days 1,733 sqft
    2021-10-01 0 days 1,663 sqft
    2021-11-01 0 days 1,605 sqft
    2021-12-01 0 days 1,681 sqft
    2022-01-01 0 days 1,727 sqft
    2022-02-01 0 days 1,633 sqft
    2022-03-01 0 days 1,586 sqft
    2022-04-01 0 days 1,703 sqft
    2022-05-01 0 days 1,711 sqft
    2022-06-01 0 days 1,719 sqft
    2022-07-01 0 days 1,720 sqft
    2022-08-01 0 days 1,715 sqft
    2022-09-01 0 days 1,693 sqft
    2022-10-01 0 days 1,672 sqft
    2022-11-01 0 days 1,788 sqft
    2022-12-01 0 days 1,732 sqft
    2023-01-01 0 days 1,766 sqft
    2023-02-01 0 days 1,686 sqft
    2023-03-01 0 days 1,815 sqft
    2023-04-01 0 days 1,824 sqft
    2023-05-01 0 days 1,747 sqft
    2023-06-01 0 days 1,673 sqft
    2023-07-01 0 days 1,716 sqft
    2023-08-01 0 days 1,716 sqft
    2023-09-01 0 days 1,684 sqft
    2023-10-01 0 days 1,605 sqft
    2023-11-01 0 days 1,552 sqft
    2023-12-01 0 days 1,545 sqft
    2024-01-01 0 days 1,540 sqft
    2024-02-01 0 days 1,540 sqft
    2024-03-01 0 days 1,553 sqft
    Snyder's median listing age (time on market) for 2024-03-01 was 0 days.

    Snyder's median square footage for active listings during the 2024-03-01 period was 1,553 sqft. One year prior, the average listing was 1,815 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).