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 7.12% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

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

    The average rate for the prior week (2025-05-16) was 7.06% and one month ago for the week of 2025-04-18, the average rate was 6.78%.

    The average rate one year ago was 6.85%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.38%.

    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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Texarkana (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 $137,000 (-1.2%) $186,007 (0.1%) 0.51 472
    2018-02-01 $135,350 (-2.6%) $186,719 (0.9%) 0.49 468
    2018-03-01 $141,500 (0.4%) $192,571 (0.4%) 0.50 465
    2018-04-01 $157,287 (4.9%) $203,845 (5.6%) 0.53 466
    2018-05-01 $159,900 (0.3%) $210,217 (7.4%) 0.53 468
    2018-06-01 $159,900 (0.2%) $218,696 (13.5%) 0.53 509
    2018-07-01 $163,850 (9.8%) $218,668 (14.5%) 0.55 546
    2018-08-01 $169,700 (19.1%) $219,864 (18.9%) 0.57 548
    2018-09-01 $166,125 (14.6%) $217,886 (17.1%) 0.56 529
    2018-10-01 $157,450 (9.3%) $209,776 (13.7%) 0.53 546
    2018-11-01 $157,500 (12.6%) $212,487 (16.4%) 0.53 554
    2018-12-01 $155,900 (12.2%) $216,601 (17.8%) 0.54 522
    2019-01-01 $155,250 (13.3%) $213,251 (14.7%) 0.54 500
    2019-02-01 $159,950 (18.2%) $211,934 (13.5%) 0.54 495
    2019-03-01 $166,957 (18.0%) $216,118 (12.2%) 0.55 488
    2019-04-01 $174,100 (10.7%) $223,987 (9.9%) 0.55 486
    2019-05-01 $171,600 (7.3%) $217,176 (3.3%) 0.54 472
    2019-06-01 $165,450 (3.5%) $212,968 (-2.6%) 0.52 498
    2019-07-01 $167,750 (2.4%) $212,875 (-2.7%) 0.53 493
    2019-08-01 $166,064 (-2.1%) $213,203 (-3.0%) 0.53 478
    2019-09-01 $161,659 (-2.7%) $210,771 (-3.3%) 0.52 481
    2019-10-01 $159,556 (1.3%) $209,150 (-0.3%) 0.51 481
    2019-11-01 $159,900 (1.5%) $207,186 (-2.5%) 0.52 464
    2019-12-01 $161,175 (3.4%) $207,224 (-4.3%) 0.54 421
    2020-01-01 $159,450 (2.7%) $209,008 (-2.0%) 0.53 370
    2020-02-01 $163,000 (1.9%) $214,846 (1.4%) 0.53 361
    2020-03-01 $157,950 (-5.4%) $205,903 (-4.7%) 0.50 366
    2020-04-01 $166,375 (-4.4%) $213,144 (-4.8%) 0.52 346
    2020-05-01 $179,450 (4.6%) $224,877 (3.6%) 0.55 304
    2020-06-01 $188,425 (13.9%) $233,975 (9.9%) 0.56 293
    2020-07-01 $197,824 (17.9%) $242,080 (13.7%) 0.57 280
    2020-08-01 $185,000 (11.4%) $234,150 (9.8%) 0.53 258
    2020-09-01 $184,850 (14.4%) $240,405 (14.1%) 0.53 234
    2020-10-01 $189,000 (18.5%) $240,177 (14.8%) 0.54 236
    2020-11-01 $185,000 (15.7%) $238,842 (15.3%) 0.54 235
    2020-12-01 $187,125 (16.1%) $247,094 (19.2%) 0.56 202
    2021-01-01 $184,900 (16.0%) $253,718 (21.4%) 0.55 182
    2021-02-01 $191,075 (17.2%) $254,469 (18.4%) 0.56 170
    2021-03-01 $195,350 (23.7%) $259,122 (25.9%) 0.55 161
    2021-04-01 $193,875 (16.5%) $363,138 (70.4%) 0.52 136
    2021-05-01 $199,900 (11.4%) $372,681 (65.7%) 0.53 134
    2021-06-01 $180,950 (-4.0%) $344,953 (47.4%) 0.48 142
    2021-07-01 $179,500 (-9.3%) $321,072 (32.6%) 0.47 169
    2021-08-01 $169,500 (-8.4%) $305,381 (30.4%) 0.45 189
    2021-09-01 $172,875 (-6.5%) $291,635 (21.3%) 0.46 197
    2021-10-01 $178,000 (-5.8%) $294,760 (22.7%) 0.47 213
    2021-11-01 $178,750 (-3.4%) $297,029 (24.4%) 0.48 226
    2021-12-01 $179,950 (-3.8%) $295,872 (19.7%) 0.49 229
    2022-01-01 $195,000 (5.5%) $318,221 (25.4%) 0.53 186
    2022-02-01 $223,250 (16.8%) $334,202 (31.3%) 0.58 178
    2022-03-01 $246,500 (26.2%) $316,835 (22.3%) 0.62 164
    2022-04-01 $272,500 (40.6%) $353,032 (-2.8%) 0.65 160
    2022-05-01 $259,475 (29.8%) $341,092 (-8.5%) 0.59 207
    2022-06-01 $239,600 (32.4%) $323,290 (-6.3%) 0.53 227
    2022-07-01 $235,000 (30.9%) $308,874 (-3.8%) 0.53 270
    2022-08-01 $225,700 (33.2%) $295,363 (-3.3%) 0.52 275
    2022-09-01 $223,750 (29.4%) $282,181 (-3.2%) 0.52 284
    2022-10-01 $213,450 (19.9%) $273,162 (-7.3%) 0.50 293
    2022-11-01 $199,700 (11.7%) $264,871 (-10.8%) 0.48 321
    2022-12-01 $199,000 (10.6%) $263,244 (-11.0%) 0.49 314
    2023-01-01 $207,225 (6.3%) $266,443 (-16.3%) 0.51 297
    2023-02-01 $223,450 (0.1%) $277,803 (-16.9%) 0.54 268
    2023-03-01 $233,950 (-5.1%) $291,280 (-8.1%) 0.55 267
    2023-04-01 $245,000 (-10.1%) $302,957 (-14.2%) 0.57 280
    2023-05-01 $279,000 (7.5%) $318,928 (-6.5%) 0.63 272
    2023-06-01 $259,950 (8.5%) $314,937 (-2.6%) 0.58 294
    2023-07-01 $245,000 (4.3%) $305,294 (-1.2%) 0.56 314
    2023-08-01 $249,900 (10.7%) $316,550 (7.2%) 0.57 353
    2023-09-01 $235,000 (5.0%) $302,236 (7.1%) 0.55 359
    2023-10-01 $239,450 (12.2%) $295,558 (8.2%) 0.56 380
    2023-11-01 $248,625 (24.5%) $309,937 (17.0%) 0.59 362
    2023-12-01 $252,000 (26.6%) $302,921 (15.1%) 0.61 371
    2024-01-01 $253,000 (22.1%) $306,973 (15.2%) 0.62 356
    2024-02-01 $241,350 (8.0%) $288,187 (3.7%) 0.58 363
    2024-03-01 $234,500 (0.2%) $283,358 (-2.7%) 0.55 391
    2024-04-01 $236,750 (-3.4%) $285,526 (-5.8%) 0.55 366
    2024-05-01 $239,900 (-14.0%) $284,710 (-10.7%) 0.55 386
    2024-06-01 $245,000 (-5.8%) $287,354 (-8.8%) 0.56 426
    2024-07-01 $246,699 (0.7%) $288,084 (-5.6%) 0.56 431
    2024-08-01 $245,000 (-2.0%) $287,959 (-9.0%) 0.57 440
    2024-09-01 $237,750 (1.2%) $288,162 (-4.7%) 0.56 454
    2024-10-01 $239,950 (0.2%) $290,283 (-1.8%) 0.56 455
    2024-11-01 $236,000 (-5.1%) $288,300 (-7.0%) 0.57 476
    2024-12-01 $227,675 (-9.7%) $284,617 (-6.0%) 0.57 459
    2025-01-01 $232,500 (-8.1%) $288,424 (-6.0%) 0.58 440
    2025-02-01 $234,250 (-2.9%) $289,127 (0.3%) 0.57 437
    2025-03-01 $249,900 (6.6%) $295,000 (4.1%) 0.59 440
    2025-04-01 $259,100 (9.4%) $296,957 (4.0%) 0.60 465
    Texarkana's median listing price for 2025-04-01 was $259,100, a difference of $22,350 (9.4%) versus the prior year and $9,200 versus the prior month.

    Texarkana's median listing price comes in at 60% of the national average.

    Texarkana's average listing price for 2025-04-01 was $296,957, a difference of $11,431 (4.0%) versus the prior year and $1,957 versus the prior month.

    For the 2025-04-01 period, Texarkana had 465 MLS listings, a difference of 25 listings (6%) versus the prior month and 99 listings (27%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Texarkana (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 108 days 1,791 sqft
    2018-02-01 109 days 1,801 sqft
    2018-03-01 103 days 1,821 sqft
    2018-04-01 75 days 1,902 sqft
    2018-05-01 73 days 1,930 sqft
    2018-06-01 68 days 1,954 sqft
    2018-07-01 65 days 1,949 sqft
    2018-08-01 68 days 1,987 sqft
    2018-09-01 78 days 1,974 sqft
    2018-10-01 80 days 1,947 sqft
    2018-11-01 79 days 1,957 sqft
    2018-12-01 89 days 1,970 sqft
    2019-01-01 103 days 1,969 sqft
    2019-02-01 108 days 1,948 sqft
    2019-03-01 99 days 1,962 sqft
    2019-04-01 84 days 1,993 sqft
    2019-05-01 75 days 2,000 sqft
    2019-06-01 73 days 1,981 sqft
    2019-07-01 77 days 1,990 sqft
    2019-08-01 73 days 2,005 sqft
    2019-09-01 73 days 1,957 sqft
    2019-10-01 73 days 1,920 sqft
    2019-11-01 86 days 1,920 sqft
    2019-12-01 95 days 1,952 sqft
    2020-01-01 106 days 1,961 sqft
    2020-02-01 100 days 1,955 sqft
    2020-03-01 77 days 1,880 sqft
    2020-04-01 75 days 1,928 sqft
    2020-05-01 87 days 1,997 sqft
    2020-06-01 87 days 2,030 sqft
    2020-07-01 71 days 2,070 sqft
    2020-08-01 66 days 2,043 sqft
    2020-09-01 71 days 2,124 sqft
    2020-10-01 73 days 2,088 sqft
    2020-11-01 54 days 1,982 sqft
    2020-12-01 67 days 2,032 sqft
    2021-01-01 76 days 2,038 sqft
    2021-02-01 86 days 2,112 sqft
    2021-03-01 64 days 2,127 sqft
    2021-04-01 52 days 2,024 sqft
    2021-05-01 30 days 1,920 sqft
    2021-06-01 33 days 1,849 sqft
    2021-07-01 33 days 1,791 sqft
    2021-08-01 43 days 1,773 sqft
    2021-09-01 45 days 1,794 sqft
    2021-10-01 49 days 1,877 sqft
    2021-11-01 53 days 1,836 sqft
    2021-12-01 55 days 1,848 sqft
    2022-01-01 61 days 1,894 sqft
    2022-02-01 68 days 1,905 sqft
    2022-03-01 57 days 2,002 sqft
    2022-04-01 36 days 2,133 sqft
    2022-05-01 33 days 2,056 sqft
    2022-06-01 36 days 1,986 sqft
    2022-07-01 40 days 1,945 sqft
    2022-08-01 48 days 1,909 sqft
    2022-09-01 65 days 1,890 sqft
    2022-10-01 67 days 1,916 sqft
    2022-11-01 68 days 1,877 sqft
    2022-12-01 80 days 1,872 sqft
    2023-01-01 86 days 1,841 sqft
    2023-02-01 88 days 1,883 sqft
    2023-03-01 70 days 1,950 sqft
    2023-04-01 61 days 2,016 sqft
    2023-05-01 60 days 2,073 sqft
    2023-06-01 47 days 2,016 sqft
    2023-07-01 48 days 1,946 sqft
    2023-08-01 56 days 1,942 sqft
    2023-09-01 59 days 1,913 sqft
    2023-10-01 63 days 1,906 sqft
    2023-11-01 73 days 1,920 sqft
    2023-12-01 80 days 1,925 sqft
    2024-01-01 89 days 1,914 sqft
    2024-02-01 81 days 1,840 sqft
    2024-03-01 67 days 1,807 sqft
    2024-04-01 72 days 1,849 sqft
    2024-05-01 68 days 1,876 sqft
    2024-06-01 65 days 1,923 sqft
    2024-07-01 76 days 1,920 sqft
    2024-08-01 79 days 1,895 sqft
    2024-09-01 83 days 1,902 sqft
    2024-10-01 77 days 1,901 sqft
    2024-11-01 78 days 1,900 sqft
    2024-12-01 87 days 1,900 sqft
    2025-01-01 94 days 1,894 sqft
    2025-02-01 95 days 1,891 sqft
    2025-03-01 87 days 1,914 sqft
    2025-04-01 77 days 1,933 sqft
    Texarkana's median listing age (time on market) for 2025-04-01 was 77 days. This is 7% longer than the same period one year ago.

    Texarkana's median square footage for active listings during the 2025-04-01 period was 1,933 sqft. One year prior, the average listing was 1,849 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).