Sulphur Springs FHA Loan Rates, Closing Costs & Stats

Sulphur Springs, 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.

Sulphur Springs's 31 lenders originated 60 FHA loans during 2023. The total origination value was $15,970,000, with an average FHA loan value of $266,167.

Sulphur Springs FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Sulphur Springs averaged 6.81% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

Sulphur Springs's average FHA mortgage closing costs are $8,221.

The average rate for the prior week (2024-12-06) was 6.78% and one month ago for the week of 2024-11-08, the average rate was 6.64%.

The average rate one year ago was 7.05%.

For refis of the same type during the week of 2024-12-13, the average rate was 6.38%.

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

Sulphur Springs 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 Sulphur Springs level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
Nations Lending Corporation 8 7.02% $9,604
GUILD MORTGAGE COMPANY 4 6.78% $13,056
EVERETT FINANCIAL, INC. 3 7.25% $8,105
QUICKEN LOANS, LLC 3 6.37% $12,122
UNITED WHOLESALE MORTGAGE, LLC 3 6.71% $9,237
CARDINAL FINANCIAL 3 7.33% $18,794
THRIVE MORTGAGE, LLC 2 6.50% $15,258
Network Funding, L.P. 2 7.44% $14,291
Mortgage Research Center, LLC 2 7.19% $6,024
SECURITYNATIONAL MORTGAGE COMPANY 2 8.00% $10,304
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 7.25% $14,032
OPEN MORTGAGE, LLC 1 6.25% $10,259
Origin Bank 1 6.25% $14,831
Paramount Residential Mortgage Group, Inc. 1 7.25% $7,591
PREMIA MORTGAGE, LLC 1 6.25% $13,062
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.13% $10,927
SUCCESS MORTGAGE PARTNERS, INC. 1 7.00% $14,570
Town Square Mortgage & Investments, Inc. 1 7.25% $9,228
Waterstone Mortgage Corporation 1 6.00% $13,347
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $13,570
WILLOW BEND MORTGAGE COMPANY, LLC 1 7.13% $12,962
AMERISAVE MORTGAGE CORPORATION 1 6.75% $15,127
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.25% $7,501
BROKER SOLUTIONS, INC. 1 6.25% $9,769
CALCON MUTUAL MORTGAGE LLC 1 8.00% $10,946
CROSSCOUNTRY MORTGAGE, LLC 1 6.69% $14,187
DRAPER AND KRAMER MORTGAGE CORP. 1 6.13% $16,997
HALLMARK HOME MORTGAGE, LLC 1 7.25% $11,662
INTEGRITY MORTGAGE CORPORATION OF TEXAS 1 6.63% $11,462
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.63% $14,326
MOUNTAIN WEST FINANCIAL, INC. 1 6.25% $16,690

The top Sulphur Springs FHA lender as defined by loan originations is Nations Lending Corporation, with 8 FHA loans originated. Their average total fees are $9,604, which is $3,452 lower than the next largest lender, GUILD MORTGAGE COMPANY.

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

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

Sulphur Springs FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Sulphur Springs (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 $158,675 (-11.1%) $241,601 (-7.5%) 0.00 94
2018-02-01 $161,950 (-10.0%) $248,852 (-6.9%) 0.00 84
2018-03-01 $165,000 (-13.4%) $251,683 (-2.4%) 0.00 75
2018-04-01 $162,125 (-15.8%) $240,964 (-11.6%) 0.00 77
2018-05-01 $169,950 (-8.6%) $254,278 (-7.6%) 0.00 81
2018-06-01 $175,000 (-10.1%) $249,767 (-12.5%) 0.00 98
2018-07-01 $189,950 (-7.3%) $266,735 (-13.7%) 0.00 98
2018-08-01 $172,475 (-5.2%) $263,230 (-7.2%) 0.00 89
2018-09-01 $182,450 (5.8%) $272,889 (1.5%) 0.00 85
2018-10-01 $179,900 (14.3%) $269,102 (17.0%) 0.00 93
2018-11-01 $189,450 (26.4%) $313,253 (36.4%) 0.00 86
2018-12-01 $179,900 (12.5%) $300,817 (19.6%) 0.00 91
2019-01-01 $177,400 (11.8%) $282,087 (16.8%) 0.00 84
2019-02-01 $194,225 (19.9%) $298,635 (20.0%) 0.00 65
2019-03-01 $197,100 (19.5%) $320,124 (27.2%) 0.00 69
2019-04-01 $209,450 (29.2%) $344,145 (42.8%) 0.00 73
2019-05-01 $219,975 (29.4%) $386,347 (51.9%) 0.00 66
2019-06-01 $219,000 (25.1%) $326,305 (30.6%) 0.00 72
2019-07-01 $175,000 (-7.9%) $270,261 (1.3%) 0.00 71
2019-08-01 $182,927 (6.1%) $271,317 (3.1%) 0.00 70
2019-09-01 $182,968 (0.3%) $271,519 (-0.5%) 0.00 70
2019-10-01 $186,250 (3.5%) $274,119 (1.9%) 0.00 68
2019-11-01 $194,700 (2.8%) $295,915 (-5.5%) 0.00 69
2019-12-01 $191,498 (6.5%) $300,637 (-0.1%) 0.00 66
2020-01-01 $218,450 (23.1%) $310,850 (10.2%) 0.00 62
2020-02-01 $176,450 (-9.2%) $279,510 (-6.4%) 0.00 59
2020-03-01 $167,175 (-15.2%) $278,391 (-13.0%) 0.00 70
2020-04-01 $192,425 (-8.1%) $302,070 (-12.2%) 0.00 65
2020-05-01 $209,700 (-4.7%) $300,403 (-22.3%) 0.00 60
2020-06-01 $188,250 (-14.0%) $289,364 (-11.3%) 0.00 61
2020-07-01 $190,725 (9.0%) $292,777 (8.3%) 0.00 52
2020-08-01 $229,000 (25.2%) $315,474 (16.3%) 0.00 47
2020-09-01 $234,200 (28.0%) $324,065 (19.4%) 0.00 49
2020-10-01 $256,950 (38.0%) $353,558 (29.0%) 0.00 53
2020-11-01 $237,175 (21.8%) $349,808 (18.2%) 0.00 45
2020-12-01 $204,956 (7.0%) $356,022 (18.4%) 0.00 42
2021-01-01 $196,450 (-10.1%) $355,654 (14.4%) 0.00 40
2021-02-01 $219,500 (24.4%) $412,614 (47.6%) 0.00 29
2021-03-01 $219,000 (31.0%) $383,968 (37.9%) 0.00 30
2021-04-01 $216,950 (12.8%) $391,808 (29.7%) 0.00 29
2021-05-01 $255,000 (21.6%) $494,191 (64.5%) 0.00 23
2021-06-01 $264,950 (40.7%) $498,740 (72.4%) 0.00 32
2021-07-01 $254,500 (33.4%) $440,527 (50.5%) 0.00 39
2021-08-01 $227,500 (-0.7%) $382,614 (21.3%) 0.00 45
2021-09-01 $238,675 (1.9%) $422,928 (30.5%) 0.00 42
2021-10-01 $219,000 (-14.8%) $401,055 (13.4%) 0.00 48
2021-11-01 $261,850 (10.4%) $398,097 (13.8%) 0.00 43
2021-12-01 $294,250 (43.6%) $426,740 (19.9%) 0.00 26
2022-01-01 $247,445 (26.0%) $433,068 (21.8%) 0.00 24
2022-02-01 $267,245 (21.8%) $482,315 (16.9%) 0.00 28
2022-03-01 $274,750 (25.5%) $440,410 (14.7%) 0.00 30
2022-04-01 $329,000 (51.7%) $472,978 (20.7%) 0.00 35
2022-05-01 $358,725 (40.7%) $477,035 (-3.5%) 0.00 42
2022-06-01 $318,725 (20.3%) $476,817 (-4.4%) 0.00 57
2022-07-01 $336,250 (32.1%) $479,984 (9.0%) 0.00 73
2022-08-01 $332,000 (45.9%) $461,981 (20.7%) 0.00 80
2022-09-01 $327,000 (37.0%) $445,214 (5.3%) 0.00 80
2022-10-01 $325,000 (48.4%) $457,614 (14.1%) 0.00 84
2022-11-01 $299,000 (14.2%) $436,047 (9.5%) 0.00 100
2022-12-01 $299,000 (1.6%) $449,999 (5.5%) 0.00 90
2023-01-01 $309,749 (25.2%) $464,639 (7.3%) 0.00 88
2023-02-01 $313,500 (17.3%) $463,513 (-3.9%) 0.00 83
2023-03-01 $301,194 (9.6%) $438,607 (-0.4%) 0.00 88
2023-04-01 $272,888 (-17.1%) $384,113 (-18.8%) 0.00 86
2023-05-01 $279,725 (-22.0%) $359,408 (-24.7%) 0.00 85
2023-06-01 $277,500 (-12.9%) $391,373 (-17.9%) 0.00 97
2023-07-01 $287,000 (-14.7%) $382,802 (-20.3%) 0.00 107
2023-08-01 $294,313 (-11.4%) $398,354 (-13.8%) 0.00 115
2023-09-01 $325,000 (-0.6%) $423,372 (-4.9%) 0.00 108
2023-10-01 $313,416 (-3.6%) $413,890 (-9.6%) 0.00 103
2023-11-01 $300,944 (0.7%) $403,602 (-7.4%) 0.00 110
2023-12-01 $330,000 (10.4%) $419,865 (-6.7%) 0.00 102
2024-01-01 $349,000 (12.7%) $415,062 (-10.7%) 0.00 108
2024-02-01 $358,725 (14.4%) $431,633 (-6.9%) 0.00 123
2024-03-01 $365,000 (21.2%) $437,386 (-0.3%) 0.00 121
2024-04-01 $365,000 (33.8%) $429,950 (11.9%) 0.00 120
2024-05-01 $363,750 (30.0%) $442,418 (23.1%) 0.00 123
2024-06-01 $320,000 (15.3%) $430,717 (10.1%) 0.00 126
2024-07-01 $312,950 (9.0%) $416,882 (8.9%) 0.00 128
2024-08-01 $315,000 (7.0%) $407,030 (2.2%) 0.00 142
2024-09-01 $316,766 (-2.5%) $404,755 (-4.4%) 0.00 156
2024-10-01 $328,000 (4.7%) $406,197 (-1.9%) 0.00 153
2024-11-01 $315,000 (4.7%) $394,913 (-2.2%) 0.00 156
Sulphur Springs's median listing price for 2024-11-01 was $315,000, a difference of $14,056 (4.7%) versus the prior year and $-13,000 versus the prior month.

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

Sulphur Springs's average listing price for 2024-11-01 was $394,913, a difference of $-8,689 (-2.2%) versus the prior year and $-11,284 versus the prior month.

For the 2024-11-01 period, Sulphur Springs had 156 MLS listings, a difference of 3 listings (2%) versus the prior month and 46 listings (42%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Sulphur Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,947 sqft
2018-02-01 0 days 1,948 sqft
2018-03-01 0 days 1,952 sqft
2018-04-01 0 days 1,984 sqft
2018-05-01 0 days 1,974 sqft
2018-06-01 0 days 1,938 sqft
2018-07-01 0 days 1,927 sqft
2018-08-01 0 days 1,871 sqft
2018-09-01 0 days 1,880 sqft
2018-10-01 0 days 1,917 sqft
2018-11-01 0 days 1,967 sqft
2018-12-01 0 days 1,919 sqft
2019-01-01 0 days 1,923 sqft
2019-02-01 0 days 1,919 sqft
2019-03-01 0 days 1,906 sqft
2019-04-01 0 days 1,951 sqft
2019-05-01 0 days 1,925 sqft
2019-06-01 0 days 1,834 sqft
2019-07-01 0 days 1,783 sqft
2019-08-01 0 days 1,803 sqft
2019-09-01 0 days 1,823 sqft
2019-10-01 0 days 1,874 sqft
2019-11-01 0 days 1,933 sqft
2019-12-01 0 days 1,953 sqft
2020-01-01 0 days 1,955 sqft
2020-02-01 0 days 1,813 sqft
2020-03-01 0 days 1,799 sqft
2020-04-01 0 days 1,940 sqft
2020-05-01 0 days 2,012 sqft
2020-06-01 0 days 1,850 sqft
2020-07-01 0 days 1,936 sqft
2020-08-01 0 days 1,904 sqft
2020-09-01 0 days 1,943 sqft
2020-10-01 0 days 1,997 sqft
2020-11-01 0 days 1,959 sqft
2020-12-01 0 days 1,897 sqft
2021-01-01 0 days 1,799 sqft
2021-02-01 0 days 1,907 sqft
2021-03-01 0 days 1,875 sqft
2021-04-01 0 days 1,850 sqft
2021-05-01 0 days 1,960 sqft
2021-06-01 0 days 1,939 sqft
2021-07-01 0 days 1,947 sqft
2021-08-01 0 days 1,899 sqft
2021-09-01 0 days 1,913 sqft
2021-10-01 0 days 1,800 sqft
2021-11-01 0 days 1,803 sqft
2021-12-01 0 days 1,931 sqft
2022-01-01 0 days 1,690 sqft
2022-02-01 0 days 1,904 sqft
2022-03-01 0 days 1,780 sqft
2022-04-01 0 days 1,784 sqft
2022-05-01 0 days 1,975 sqft
2022-06-01 0 days 1,950 sqft
2022-07-01 0 days 1,947 sqft
2022-08-01 0 days 1,905 sqft
2022-09-01 0 days 1,871 sqft
2022-10-01 0 days 1,840 sqft
2022-11-01 0 days 1,748 sqft
2022-12-01 0 days 1,763 sqft
2023-01-01 0 days 1,890 sqft
2023-02-01 0 days 1,801 sqft
2023-03-01 0 days 1,815 sqft
2023-04-01 0 days 1,771 sqft
2023-05-01 0 days 1,714 sqft
2023-06-01 0 days 1,753 sqft
2023-07-01 0 days 1,754 sqft
2023-08-01 0 days 1,794 sqft
2023-09-01 0 days 1,894 sqft
2023-10-01 0 days 1,863 sqft
2023-11-01 0 days 1,850 sqft
2023-12-01 0 days 1,997 sqft
2024-01-01 0 days 2,037 sqft
2024-02-01 0 days 2,009 sqft
2024-03-01 0 days 1,986 sqft
2024-04-01 0 days 1,942 sqft
2024-05-01 0 days 1,941 sqft
2024-06-01 0 days 1,873 sqft
2024-07-01 0 days 1,877 sqft
2024-08-01 0 days 1,879 sqft
2024-09-01 0 days 1,865 sqft
2024-10-01 0 days 1,882 sqft
2024-11-01 0 days 1,868 sqft
Sulphur Springs's median listing age (time on market) for 2024-11-01 was 0 days.

Sulphur Springs's median square footage for active listings during the 2024-11-01 period was 1,868 sqft. One year prior, the average listing was 1,850 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).