Tyler FHA Loans
TYLER, 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.
Tyler's 96 lenders originated 853 FHA loans during 2021. The total origination value was $174,045,000, with an average FHA loan value of $204,039.
Tyler FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Tyler
averaged
5.18%
for the week of 2022-05-13, compared to the national average (all FHA variants) of
5.361% for the same period.
The average rate for the prior week (2022-05-06) was
5.61% and
one month ago for the week of 2022-04-08, the
average rate was 4.78%.
The average rate one year ago was 3.39%.
For refis of the same type during the week of 2022-05-13, the average rate
was 5.2%.
Tyler FHA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Tyler level.
The top Tyler FHA lender as defined by loan originations is Gateway First Bank, with
71 FHA loans originated. Their average total fees are
$7,655, which is $395
lower than the next largest lender,
MORTGAGE FINANCIAL SERVICES, LLC.
The lowest fee Tyler FHA lenders (with over 10 loans originated) are
VILLAGE CAPITAL & INVESTMENT LLC ($2,882), Mr. Cooper ( Nationstar Mortgage ) ($3,100), LAKEVIEW LOAN SERVICING, LLC ($4,840), FREEDOM MORTGAGE CORPORATION ($5,104) and UNITED WHOLESALE MORTGAGE, LLC ($6,704).
The lowest rate Tyler FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (2.65%), QUICKEN LOANS, LLC (2.76%), CMG MORTGAGE, INC. (2.92%), FREEDOM MORTGAGE CORPORATION (2.92%) and VILLAGE CAPITAL & INVESTMENT LLC (2.99%).
Tyler FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
TYLER, TX | SMITH | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Tyler (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $278,250 (10.2%) | $402,315 (20.2%) | 1.02 | 1,121 |
2018-02-01 | $276,750 (8.5%) | $393,565 (18.6%) | 1.00 | 1,154 |
2018-03-01 | $289,500 (10.5%) | $399,789 (17.2%) | 1.00 | 1,176 |
2018-04-01 | $294,750 (5.3%) | $408,403 (13.1%) | 0.99 | 1,184 |
2018-05-01 | $296,450 (5.5%) | $412,865 (13.1%) | 0.99 | 1,221 |
2018-06-01 | $287,900 (1.2%) | $386,590 (-0.9%) | 0.96 | 1,269 |
2018-07-01 | $287,200 (2.6%) | $380,891 (-2.2%) | 0.96 | 1,262 |
2018-08-01 | $279,450 (-1.8%) | $369,649 (-5.2%) | 0.93 | 1,260 |
2018-09-01 | $282,000 (-2.4%) | $364,527 (-9.4%) | 0.94 | 1,188 |
2018-10-01 | $281,450 (-2.9%) | $365,228 (-9.9%) | 0.94 | 1,183 |
2018-11-01 | $279,950 (-1.8%) | $366,108 (-8.2%) | 0.94 | 1,141 |
2018-12-01 | $285,000 (2.2%) | $370,167 (-6.6%) | 0.98 | 1,051 |
2019-01-01 | $292,000 (4.9%) | $374,612 (-6.9%) | 1.01 | 983 |
2019-02-01 | $285,000 (3.0%) | $384,041 (-2.4%) | 0.95 | 1,005 |
2019-03-01 | $291,386 (0.7%) | $391,127 (-2.2%) | 0.95 | 977 |
2019-04-01 | $302,450 (2.6%) | $396,645 (-2.9%) | 0.95 | 1,014 |
2019-05-01 | $322,450 (8.8%) | $414,843 (0.5%) | 0.99 | 1,019 |
2019-06-01 | $314,900 (9.4%) | $412,449 (6.7%) | 0.97 | 1,029 |
2019-07-01 | $307,498 (7.1%) | $406,442 (6.7%) | 0.96 | 1,012 |
2019-08-01 | $295,567 (5.8%) | $394,022 (6.6%) | 0.93 | 979 |
2019-09-01 | $289,845 (2.8%) | $384,189 (5.4%) | 0.92 | 957 |
2019-10-01 | $295,450 (5.0%) | $396,801 (8.6%) | 0.94 | 968 |
2019-11-01 | $285,664 (2.0%) | $391,199 (6.9%) | 0.92 | 967 |
2019-12-01 | $277,700 (-2.6%) | $375,546 (1.5%) | 0.93 | 928 |
2020-01-01 | $279,450 (-4.3%) | $377,710 (0.8%) | 0.93 | 885 |
2020-02-01 | $285,000 (0.0%) | $386,681 (0.7%) | 0.92 | 855 |
2020-03-01 | $288,450 (-1.0%) | $392,893 (0.5%) | 0.90 | 871 |
2020-04-01 | $289,450 (-4.3%) | $388,017 (-2.2%) | 0.90 | 884 |
2020-05-01 | $299,900 (-7.0%) | $408,640 (-1.5%) | 0.91 | 905 |
2020-06-01 | $310,000 (-1.6%) | $417,180 (1.2%) | 0.91 | 922 |
2020-07-01 | $313,500 (2.0%) | $419,886 (3.3%) | 0.90 | 854 |
2020-08-01 | $309,000 (4.5%) | $420,099 (6.6%) | 0.88 | 831 |
2020-09-01 | $317,450 (9.5%) | $423,328 (10.2%) | 0.91 | 784 |
2020-10-01 | $299,500 (1.4%) | $420,948 (6.1%) | 0.86 | 685 |
2020-11-01 | $295,000 (3.3%) | $406,228 (3.8%) | 0.84 | 641 |
2020-12-01 | $314,500 (13.3%) | $425,104 (13.2%) | 0.92 | 599 |
2021-01-01 | $310,000 (10.9%) | $413,961 (9.6%) | 0.91 | 532 |
2021-02-01 | $317,500 (11.4%) | $431,583 (11.6%) | 0.91 | 436 |
2021-03-01 | $317,500 (10.1%) | $444,320 (13.1%) | 0.89 | 386 |
2021-04-01 | $339,000 (17.1%) | $479,702 (23.6%) | 0.91 | 379 |
2021-05-01 | $366,000 (22.0%) | $497,298 (21.7%) | 0.96 | 394 |
2021-06-01 | $367,500 (18.6%) | $542,774 (30.1%) | 0.95 | 427 |
2021-07-01 | $369,450 (17.9%) | $539,122 (28.4%) | 0.96 | 474 |
2021-08-01 | $364,000 (17.8%) | $518,686 (23.5%) | 0.96 | 552 |
2021-09-01 | $367,344 (15.7%) | $521,652 (23.2%) | 0.97 | 541 |
2021-10-01 | $369,900 (23.5%) | $529,145 (25.7%) | 0.97 | 507 |
2021-11-01 | $370,000 (25.4%) | $554,922 (36.6%) | 0.98 | 424 |
2021-12-01 | $376,500 (19.7%) | $575,008 (35.3%) | 1.00 | 413 |
2022-01-01 | $375,000 (21.0%) | $564,788 (36.4%) | 1.00 | 362 |
2022-02-01 | $374,950 (18.1%) | $576,594 (33.6%) | 0.96 | 330 |
2022-03-01 | $369,000 (16.2%) | $572,912 (28.9%) | 0.91 | 318 |
2022-04-01 | $369,000 (8.9%) | $631,012 (31.5%) | 0.87 | 361 |
Tyler's median listing price comes in at 87% of the national average.
Tyler's average listing price for 2022-04-01 was $631,012, a difference of $151,310 (31.5%) versus the prior year and $58,100 versus the prior month.
For the 2022-04-01 period, Tyler had 361 MLS listings, a difference of 43 listings (14%) versus the prior month and -18 listings (-5%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Tyler (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 92 days | 2,350 sqft |
2018-02-01 | 84 days | 2,328 sqft |
2018-03-01 | 66 days | 2,360 sqft |
2018-04-01 | 65 days | 2,371 sqft |
2018-05-01 | 61 days | 2,385 sqft |
2018-06-01 | 60 days | 2,378 sqft |
2018-07-01 | 66 days | 2,355 sqft |
2018-08-01 | 66 days | 2,328 sqft |
2018-09-01 | 76 days | 2,304 sqft |
2018-10-01 | 73 days | 2,295 sqft |
2018-11-01 | 72 days | 2,280 sqft |
2018-12-01 | 80 days | 2,280 sqft |
2019-01-01 | 90 days | 2,300 sqft |
2019-02-01 | 84 days | 2,283 sqft |
2019-03-01 | 66 days | 2,321 sqft |
2019-04-01 | 55 days | 2,372 sqft |
2019-05-01 | 50 days | 2,465 sqft |
2019-06-01 | 53 days | 2,455 sqft |
2019-07-01 | 58 days | 2,448 sqft |
2019-08-01 | 62 days | 2,422 sqft |
2019-09-01 | 64 days | 2,393 sqft |
2019-10-01 | 64 days | 2,409 sqft |
2019-11-01 | 66 days | 2,338 sqft |
2019-12-01 | 72 days | 2,300 sqft |
2020-01-01 | 78 days | 2,251 sqft |
2020-02-01 | 67 days | 2,257 sqft |
2020-03-01 | 57 days | 2,261 sqft |
2020-04-01 | 60 days | 2,247 sqft |
2020-05-01 | 58 days | 2,278 sqft |
2020-06-01 | 48 days | 2,321 sqft |
2020-07-01 | 51 days | 2,280 sqft |
2020-08-01 | 52 days | 2,257 sqft |
2020-09-01 | 55 days | 2,299 sqft |
2020-10-01 | 55 days | 2,249 sqft |
2020-11-01 | 55 days | 2,247 sqft |
2020-12-01 | 65 days | 2,301 sqft |
2021-01-01 | 65 days | 2,275 sqft |
2021-02-01 | 50 days | 2,313 sqft |
2021-03-01 | 53 days | 2,290 sqft |
2021-04-01 | 36 days | 2,312 sqft |
2021-05-01 | 37 days | 2,280 sqft |
2021-06-01 | 37 days | 2,284 sqft |
2021-07-01 | 39 days | 2,281 sqft |
2021-08-01 | 36 days | 2,259 sqft |
2021-09-01 | 40 days | 2,252 sqft |
2021-10-01 | 47 days | 2,181 sqft |
2021-11-01 | 51 days | 2,174 sqft |
2021-12-01 | 54 days | 2,141 sqft |
2022-01-01 | 55 days | 2,092 sqft |
2022-02-01 | 47 days | 2,071 sqft |
2022-03-01 | 39 days | 2,037 sqft |
2022-04-01 | 31 days | 2,001 sqft |
Tyler's median square footage for active listings during the 2022-04-01 period was 2,001 sqft. One year prior, the average listing was 2,312 sqft.