Texarkana FHA Loan Rates, Closing Costs & Stats

TEXARKANA, TX-AR

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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.

    Texarkana's 57 lenders originated 367 FHA loans during 2024. The total origination value was $74,715,000, with an average FHA loan value of $203,583.

    Texarkana FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Texarkana averaged 0.21% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Texarkana's average FHA mortgage closing costs are $7,106.

    The average rate for the prior week (2025-06-13) was 6.69% and one month ago for the week of 2025-05-16, the average rate was 6.66%.

    The average rate one year ago was 6.91%.

    For refis of the same type during the week of 2025-06-20, the average rate was 0.07%.

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

    Texarkana 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 Texarkana level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    MORTGAGE FINANCIAL SERVICES, LLC 49 6.81% $8,909
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 39 6.61% $10,911
    UNITED WHOLESALE MORTGAGE, LLC 34 6.42% $11,084
    GUILD MORTGAGE COMPANY 29 6.76% $9,846
    QUICKEN LOANS, LLC 25 6.50% $9,669
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 24 7.00% $8,121
    SWBC MORTGAGE CORPORATION 21 6.29% $5,388
    Farmers Bank & Trust Company 15 6.73% $7,958
    EVERETT FINANCIAL, INC. 6 7.29% $6,722
    PENNYMAC LOAN SERVICES, LLC 6 6.42% $7,986
    Paramount Residential Mortgage Group, Inc. 6 6.92% $7,584
    Equity Prime Mortgage LLC 5 6.60% $7,691
    MOVEMENT MORTGAGE, LLC 4 7.09% $13,303
    CROSSCOUNTRY MORTGAGE, LLC 4 6.69% $11,925
    LOANDEPOT.COM, LLC 4 6.56% $9,621
    ZILLOW HOME LOANS, LLC 3 6.50% $8,366
    PLANET HOME LENDING, LLC 3 6.12% $9,278
    Regions Bank 3 6.00% $7,765
    AMERICAN FINANCIAL RESOURCES, INC. 3 6.04% $10,525
    BancorpSouth 2 6.44% $10,210
    T2 FINANCIAL LLC 2 6.81% $9,374
    FREEDOM MORTGAGE CORPORATION 2 6.50% $12,019
    AMERISAVE MORTGAGE CORPORATION 2 5.88% $8,674
    American Mortgage & Equity Consultants, Inc. 2 7.25% $8,046
    NEWREZ LLC 2 6.50% $3,909
    CARDINAL FINANCIAL 2 6.37% $7,899
    Simmons Bank 1 6.00% $5,495
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $9,339
    U.S. Bank 1 5.63% $7,853
    VILLAGE CAPITAL MORTGAGE 1 6.49% $3,413
    Wells Fargo Bank 1 6.50% $8,677
    Mortgage Research Center, LLC 1 6.75% $12,478
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.88% $7,047
    Arvest Bank 1 6.88% $7,309
    BECKAM FUNDING CORP. 1 7.75% $18,246
    BETTER MORTGAGE CORPORATION 1 5.88% $13,379
    BROKER SOLUTIONS, INC. 1 5.75% $7,535
    CANOPY MORTGAGE, LLC 1 6.25% $21,906
    DELMAR FINANCIAL COMPANY 1 6.25% $7,373
    EUSTIS AND AMERICAN MORTGAGE COMPANY 1 7.13% $11,829
    Flagstar Bank, FSB 1 6.23% $9,290
    Guaranty Bank & Trust, N.A. 1 6.63% $6,380
    LOANPAL, LLC 1 5.99% $13,381
    MID AMERICA MORTGAGE, INC. 1 7.38% $8,088
    AMERICAN FINANCIAL NETWORK, INC. 1 6.25% $6,936
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $9,363
    NATIONS RELIABLE LENDING, LLC 1 7.63% $5,861
    NBH Bank 1 6.38% $10,643
    PENTAGON FEDERAL CREDIT UNION 1 5.75% $8,226
    PHH Mortgage Corporation 1 6.99% $9,108
    Plains Commerce Bank 1 6.63% $11,887
    POLARIS HOME FUNDING CORP. 1 6.75% $9,782
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $17,345
    RELIANCE FIRST CAPITAL, LLC 1 6.00% $10,584
    S1L, Inc. 1 6.75% $10,372
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.25% $8,484
    SFMC, LP 1 7.38% $5,425

    The top Texarkana FHA lender as defined by loan originations is MORTGAGE FINANCIAL SERVICES, LLC, with 49 FHA loans originated. Their average total fees are $8,909, which is $2,002 lower than the next largest lender, HIGHLANDS RESIDENTIAL MORTGAGE, LTD..

    The lowest fee Texarkana FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION ($5,388), Farmers Bank & Trust Company ($7,958), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,121), MORTGAGE FINANCIAL SERVICES, LLC ($8,909) and QUICKEN LOANS, LLC ($9,669).

    The lowest rate Texarkana FHA lenders (with over 10 loans originated) are SWBC MORTGAGE CORPORATION (6.29%), UNITED WHOLESALE MORTGAGE, LLC (6.42%), QUICKEN LOANS, LLC (6.50%), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. (6.61%) and Farmers Bank & Trust Company (6.73%).

    Texarkana FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    TEXARKANA, TX-AR LITTLE RIVER 2022 $420,680 $538,650 $651,050 $809,150
    TEXARKANA, TX-AR MILLER 2022 $420,680 $538,650 $651,050 $809,150
    TEXARKANA, TX-AR BOWIE 2022 $420,680 $538,650 $651,050 $809,150
    TEXARKANA, TX-AR LITTLE RIVER 2023 $472,030 $604,400 $730,525 $907,900
    TEXARKANA, TX-AR MILLER 2023 $472,030 $604,400 $730,525 $907,900
    TEXARKANA, TX-AR BOWIE 2023 $472,030 $604,400 $730,525 $907,900

    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).