Stephenville FHA Loan Rates, Closing Costs & Stats

Stephenville, 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.

    Stephenville's 28 lenders originated 57 FHA loans during 2023. The total origination value was $14,125,000, with an average FHA loan value of $247,807.

    Stephenville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Stephenville averaged 7.09% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Stephenville's average FHA mortgage closing costs are $8,227.

    The average rate for the prior week (2024-04-12) was 6.88% and one month ago for the week of 2024-03-15, the average rate was 6.95%.

    The average rate one year ago was 6.48%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.86%.

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

    Stephenville 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 Stephenville level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 11 6.78% $13,462
    CARDINAL FINANCIAL 6 6.46% $13,194
    Affiliated Bank 4 6.94% $10,637
    UNITED WHOLESALE MORTGAGE, LLC 3 6.50% $10,861
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.04% $14,467
    EVERETT FINANCIAL, INC. 2 7.13% $5,510
    PENNYMAC LOAN SERVICES, LLC 2 5.94% $12,770
    MID AMERICA MORTGAGE, INC. 2 8.50% $4,842
    SECURITYNATIONAL MORTGAGE COMPANY 2 7.44% $8,117
    NEWREZ LLC 1 6.75% $7,828
    Paramount Residential Mortgage Group, Inc. 1 6.13% $8,222
    Plains Commerce Bank 1 6.75% $11,299
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $18,122
    Prosperity Home Mortgage, LLC 1 6.63% $7,956
    QUICKEN LOANS, LLC 1 7.25% $5,409
    S1L, Inc. 1 6.88% $10,209
    SUN WEST MORTGAGE COMPANY, INC. 1 7.13% $12,057
    TOWNE MORTGAGE COMPANY 1 7.13% $13,866
    Town Square Mortgage & Investments, Inc. 1 5.75% $3,941
    Nations Lending Corporation 1 6.63% $6,354
    AMCAP MORTGAGE, LTD. 1 7.63% $7,758
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $21,885
    BROKER SOLUTIONS, INC. 1 6.25% $7,143
    First National Bank Texas 1 6.63% $10,890
    First United Bank 1 6.13% $8,708
    Gateway First Bank 1 7.25% $18,472
    GUARANTEED RATE, INC. 1 6.25% $9,890
    ACADEMY MORTGAGE CORPORATION 1 6.25% $14,684

    The top Stephenville FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 11 FHA loans originated. Their average total fees are $13,462, which is $268 higher than the next largest lender, CARDINAL FINANCIAL.

    The lowest fee Stephenville FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY ($13,462), .

    The lowest rate Stephenville FHA lenders (with over 10 loans originated) are GUILD MORTGAGE COMPANY (6.78%), .

    Stephenville FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Stephenville (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 $199,675 (9.6%) $245,891 (6.1%) 0.00 98
    2018-02-01 $199,075 (4.0%) $242,428 (-2.3%) 0.00 107
    2018-03-01 $215,000 (9.2%) $259,247 (5.2%) 0.00 104
    2018-04-01 $232,750 (16.4%) $270,352 (8.1%) 0.00 95
    2018-05-01 $239,500 (9.4%) $281,799 (10.3%) 0.00 88
    2018-06-01 $241,000 (10.1%) $274,290 (6.8%) 0.00 94
    2018-07-01 $236,500 (0.6%) $265,757 (-2.2%) 0.00 106
    2018-08-01 $202,375 (-11.9%) $245,609 (-6.4%) 0.00 114
    2018-09-01 $229,000 (0.0%) $262,133 (-1.6%) 0.00 102
    2018-10-01 $223,475 (-0.4%) $271,782 (2.7%) 0.00 87
    2018-11-01 $234,000 (7.5%) $272,664 (2.2%) 0.00 88
    2018-12-01 $215,000 (7.6%) $267,946 (4.3%) 0.00 95
    2019-01-01 $227,750 (14.1%) $278,521 (13.3%) 0.00 88
    2019-02-01 $205,875 (3.4%) $263,493 (8.7%) 0.00 85
    2019-03-01 $203,571 (-5.3%) $256,386 (-1.1%) 0.00 89
    2019-04-01 $199,000 (-14.5%) $264,129 (-2.3%) 0.00 93
    2019-05-01 $187,200 (-21.8%) $270,260 (-4.1%) 0.00 95
    2019-06-01 $185,250 (-23.1%) $283,148 (3.2%) 0.00 102
    2019-07-01 $215,475 (-8.9%) $295,060 (11.0%) 0.00 99
    2019-08-01 $237,818 (17.5%) $323,553 (31.7%) 0.00 103
    2019-09-01 $244,670 (6.8%) $310,301 (18.4%) 0.00 109
    2019-10-01 $259,000 (15.9%) $313,218 (15.3%) 0.00 108
    2019-11-01 $276,250 (18.1%) $361,205 (32.5%) 0.00 107
    2019-12-01 $285,750 (32.9%) $374,383 (39.7%) 0.00 93
    2020-01-01 $275,950 (21.2%) $372,781 (33.8%) 0.00 83
    2020-02-01 $294,700 (43.2%) $375,568 (42.5%) 0.00 85
    2020-03-01 $274,000 (34.6%) $370,311 (44.4%) 0.00 94
    2020-04-01 $257,000 (29.2%) $359,258 (36.0%) 0.00 92
    2020-05-01 $249,900 (33.5%) $317,531 (17.5%) 0.00 92
    2020-06-01 $249,675 (34.8%) $315,679 (11.5%) 0.00 89
    2020-07-01 $246,625 (14.5%) $299,202 (1.4%) 0.00 95
    2020-08-01 $242,475 (2.0%) $302,973 (-6.4%) 0.00 104
    2020-09-01 $238,750 (-2.4%) $315,506 (1.7%) 0.00 102
    2020-10-01 $234,500 (-9.5%) $319,276 (1.9%) 0.00 90
    2020-11-01 $235,000 (-14.9%) $343,937 (-4.8%) 0.00 84
    2020-12-01 $241,625 (-15.4%) $385,411 (3.0%) 0.00 76
    2021-01-01 $238,500 (-13.6%) $388,352 (4.2%) 0.00 55
    2021-02-01 $277,200 (-5.9%) $399,595 (6.4%) 0.00 45
    2021-03-01 $273,225 (-0.3%) $402,563 (8.7%) 0.00 30
    2021-04-01 $287,000 (11.7%) $419,424 (16.8%) 0.00 36
    2021-05-01 $252,500 (1.0%) $402,504 (26.8%) 0.00 40
    2021-06-01 $246,125 (-1.4%) $373,044 (18.2%) 0.00 56
    2021-07-01 $243,450 (-1.3%) $374,894 (25.3%) 0.00 67
    2021-08-01 $270,000 (11.4%) $416,567 (37.5%) 0.00 69
    2021-09-01 $296,875 (24.4%) $441,207 (39.8%) 0.00 79
    2021-10-01 $304,950 (30.0%) $436,214 (36.6%) 0.00 72
    2021-11-01 $285,500 (21.5%) $445,276 (29.5%) 0.00 67
    2021-12-01 $289,700 (19.9%) $461,439 (19.7%) 0.00 52
    2022-01-01 $275,000 (15.3%) $449,438 (15.7%) 0.00 46
    2022-02-01 $284,700 (2.7%) $438,511 (9.7%) 0.00 43
    2022-03-01 $375,975 (37.6%) $649,664 (61.4%) 0.00 37
    2022-04-01 $394,450 (37.4%) $656,162 (56.4%) 0.00 52
    2022-05-01 $402,425 (59.4%) $667,403 (65.8%) 0.00 70
    2022-06-01 $406,175 (65.0%) $663,588 (77.9%) 0.00 92
    2022-07-01 $464,950 (91.0%) $647,240 (72.7%) 0.00 108
    2022-08-01 $493,750 (82.9%) $661,067 (58.7%) 0.00 120
    2022-09-01 $494,750 (66.7%) $652,194 (47.8%) 0.00 113
    2022-10-01 $444,500 (45.8%) $603,676 (38.4%) 0.00 121
    2022-11-01 $403,500 (41.3%) $575,561 (29.3%) 0.00 123
    2022-12-01 $398,000 (37.4%) $578,572 (25.4%) 0.00 125
    2023-01-01 $410,000 (49.1%) $608,685 (35.4%) 0.00 109
    2023-02-01 $478,500 (68.1%) $603,472 (37.6%) 0.00 112
    2023-03-01 $491,175 (30.6%) $619,148 (-4.7%) 0.00 112
    2023-04-01 $499,000 (26.5%) $662,742 (1.0%) 0.00 113
    2023-05-01 $504,850 (25.5%) $716,601 (7.4%) 0.00 111
    2023-06-01 $507,975 (25.1%) $728,739 (9.8%) 0.00 119
    2023-07-01 $499,000 (7.3%) $726,230 (12.2%) 0.00 131
    2023-08-01 $487,222 (-1.3%) $758,755 (14.8%) 0.00 149
    2023-09-01 $488,450 (-1.3%) $744,028 (14.1%) 0.00 158
    2023-10-01 $472,000 (6.2%) $689,448 (14.2%) 0.00 180
    2023-11-01 $470,375 (16.6%) $717,598 (24.7%) 0.00 171
    2023-12-01 $471,750 (18.5%) $732,603 (26.6%) 0.00 150
    2024-01-01 $435,125 (6.1%) $747,242 (22.8%) 0.00 137
    2024-02-01 $440,625 (-7.9%) $776,498 (28.7%) 0.00 131
    2024-03-01 $474,750 (-3.3%) $784,691 (26.7%) 0.00 140
    Stephenville's median listing price for 2024-03-01 was $474,750, a difference of $-16,425 (-3.3%) versus the prior year and $34,125 versus the prior month.

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

    Stephenville's average listing price for 2024-03-01 was $784,691, a difference of $165,543 (26.7%) versus the prior year and $8,193 versus the prior month.

    For the 2024-03-01 period, Stephenville had 140 MLS listings, a difference of 9 listings (7%) versus the prior month and 28 listings (25%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Stephenville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,774 sqft
    2018-02-01 0 days 1,775 sqft
    2018-03-01 0 days 1,892 sqft
    2018-04-01 0 days 1,953 sqft
    2018-05-01 0 days 1,949 sqft
    2018-06-01 0 days 1,993 sqft
    2018-07-01 0 days 1,974 sqft
    2018-08-01 0 days 1,930 sqft
    2018-09-01 0 days 1,931 sqft
    2018-10-01 0 days 1,935 sqft
    2018-11-01 0 days 1,898 sqft
    2018-12-01 0 days 1,950 sqft
    2019-01-01 0 days 2,030 sqft
    2019-02-01 0 days 1,927 sqft
    2019-03-01 0 days 1,865 sqft
    2019-04-01 0 days 1,801 sqft
    2019-05-01 0 days 1,792 sqft
    2019-06-01 0 days 1,904 sqft
    2019-07-01 0 days 1,971 sqft
    2019-08-01 0 days 2,025 sqft
    2019-09-01 0 days 2,070 sqft
    2019-10-01 0 days 2,123 sqft
    2019-11-01 0 days 2,135 sqft
    2019-12-01 0 days 2,068 sqft
    2020-01-01 0 days 2,043 sqft
    2020-02-01 0 days 2,122 sqft
    2020-03-01 0 days 2,091 sqft
    2020-04-01 0 days 2,072 sqft
    2020-05-01 0 days 2,096 sqft
    2020-06-01 0 days 2,168 sqft
    2020-07-01 0 days 2,130 sqft
    2020-08-01 0 days 2,000 sqft
    2020-09-01 0 days 1,982 sqft
    2020-10-01 0 days 1,951 sqft
    2020-11-01 0 days 2,017 sqft
    2020-12-01 0 days 2,039 sqft
    2021-01-01 0 days 1,959 sqft
    2021-02-01 0 days 1,971 sqft
    2021-03-01 0 days 1,952 sqft
    2021-04-01 0 days 1,905 sqft
    2021-05-01 0 days 1,812 sqft
    2021-06-01 0 days 1,795 sqft
    2021-07-01 0 days 1,720 sqft
    2021-08-01 0 days 1,813 sqft
    2021-09-01 0 days 1,962 sqft
    2021-10-01 0 days 1,927 sqft
    2021-11-01 0 days 1,799 sqft
    2021-12-01 0 days 1,716 sqft
    2022-01-01 0 days 1,796 sqft
    2022-02-01 0 days 1,806 sqft
    2022-03-01 0 days 1,927 sqft
    2022-04-01 0 days 1,925 sqft
    2022-05-01 0 days 1,938 sqft
    2022-06-01 0 days 1,916 sqft
    2022-07-01 0 days 1,904 sqft
    2022-08-01 0 days 1,962 sqft
    2022-09-01 0 days 1,900 sqft
    2022-10-01 0 days 1,861 sqft
    2022-11-01 0 days 1,860 sqft
    2022-12-01 0 days 1,896 sqft
    2023-01-01 0 days 1,907 sqft
    2023-02-01 0 days 1,911 sqft
    2023-03-01 0 days 2,030 sqft
    2023-04-01 0 days 2,052 sqft
    2023-05-01 0 days 2,088 sqft
    2023-06-01 0 days 2,080 sqft
    2023-07-01 0 days 2,070 sqft
    2023-08-01 0 days 2,055 sqft
    2023-09-01 0 days 2,048 sqft
    2023-10-01 0 days 2,018 sqft
    2023-11-01 0 days 2,000 sqft
    2023-12-01 0 days 2,004 sqft
    2024-01-01 0 days 1,954 sqft
    2024-02-01 0 days 1,942 sqft
    2024-03-01 0 days 2,000 sqft
    Stephenville's median listing age (time on market) for 2024-03-01 was 0 days.

    Stephenville's median square footage for active listings during the 2024-03-01 period was 2,000 sqft. One year prior, the average listing was 2,030 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).