Tyler FHA Loan Rates, Closing Costs & Stats

TYLER, 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.

    Tyler's 93 lenders originated 467 FHA loans during 2022. The total origination value was $111,325,000, with an average FHA loan value of $238,383.

    Tyler FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tyler averaged -0.38% for the week of 2023-06-02, compared to the national average (all FHA variants) of 0% for the same period.

    Tyler's average FHA mortgage closing costs are $7,542.

    The average rate for the prior week (2023-05-26) was 6.46% and one month ago for the week of 2023-04-28, the average rate was 6.2%.

    The average rate one year ago was 4.86%.

    For refis of the same type during the week of 2023-06-02, the average rate was -1.04%.

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

    Tyler 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 Tyler level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 41 4.80% $9,303
    CMG MORTGAGE, INC. 29 5.50% $11,448
    QUICKEN LOANS, LLC 23 4.25% $10,700
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 19 4.75% $9,591
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 16 5.59% $11,260
    GUARANTEED RATE, INC. 16 5.55% $12,396
    MORTGAGE FINANCIAL SERVICES, LLC 16 5.22% $10,529
    FINANCE OF AMERICA MORTGAGE LLC 16 4.88% $11,305
    CARDINAL FINANCIAL 14 4.66% $11,096
    Gateway First Bank 14 4.91% $8,814
    Plains Commerce Bank 10 5.85% $12,359
    LOANDEPOT.COM, LLC 9 5.76% $11,202
    INTERLINC MORTGAGE SERVICES, LLC 8 5.69% $13,338
    Paramount Residential Mortgage Group, Inc. 7 4.32% $11,731
    ACADEMY MORTGAGE CORPORATION 7 4.38% $10,475
    PLAZA HOME MORTGAGE, INC. 7 5.55% $8,791
    BancorpSouth Bank 6 5.33% $9,017
    Flagstar Bank, FSB 6 4.03% $8,038
    GUILD MORTGAGE COMPANY 5 4.88% $10,701
    SOUTHWEST FUNDING, LP 5 5.03% $17,430
    HOME POINT FINANCIAL CORPORATION 5 4.37% $11,821
    CALIBER HOME LOANS, INC. 5 5.23% $10,390
    Mr. Cooper ( Nationstar Mortgage ) 5 3.78% $6,761
    LAKEVIEW LOAN SERVICING, LLC 4 3.38% $3,973
    SFMC, LP 4 5.47% $11,107
    CROSSCOUNTRY MORTGAGE, LLC 4 4.38% $12,541
    Hometown Lenders, Inc. 4 5.03% $10,898
    AMCAP MORTGAGE, LTD. 4 5.69% $13,561
    BROKER SOLUTIONS, INC. 3 5.33% $13,044
    PENNYMAC LOAN SERVICES, LLC 3 3.96% $9,531
    Regions Bank 3 4.13% $9,319
    CERTAINTY HOME LOANS, LLC 3 4.33% $10,070
    Mortgage Research Center, LLC 3 6.16% $7,588
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 4.88% $12,275
    ALTRA 2 4.75% $8,791
    AMERICAN FINANCIAL RESOURCES, INC. 2 3.38% $10,100
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.00% $11,915
    CHURCHILL MORTGAGE CORPORATION 2 4.00% $11,027
    EVERETT FINANCIAL, INC. 2 6.38% $6,106
    First Guaranty Mortgage Corporation 2 4.25% $13,157
    FREEDOM MORTGAGE CORPORATION 2 4.69% $6,114
    Lakeview Community Capital, LLC 2 3.19% $4,301
    MID AMERICA MORTGAGE, INC. 2 7.00% $5,913
    STOCKTON MORTGAGE CORPORATION 2 5.06% $8,926
    T2 FINANCIAL LLC 2 6.88% $7,854
    UNION HOME MORTGAGE CORP. 2 4.44% $9,504
    GUARANTEED RATE AFFINITY, LLC 1 5.25% $12,704
    Loan Simple, Inc. 1 4.88% $16,569
    MICHIGAN MUTUAL, INC. 1 6.63% $15,044
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.88% $14,226
    MORIA DEVELOPMENT, INC. 1 5.13% $15,076
    GREAT WESTERN FINANCIAL SERVICES, INC. 1 5.50% $13,063
    Equity Prime Mortgage LLC 1 5.75% $9,989
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.25% $9,465
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.13% $9,518
    NATIONS DIRECT MORTGAGE, LLC 1 3.25% $11,398
    NATIONS RELIABLE LENDING, LLC 1 5.75% $8,266
    NATIONWIDE MORTGAGE BANKERS, INC. 1 4.75% $15,093
    Neighborhood Loans, Inc. 1 6.63% $8,970
    NEWREZ LLC 1 7.13% $7,518
    NFM, INC. 1 5.38% $12,040
    NP, Inc. 1 4.75% $8,457
    OCMBC, INC. 1 4.63% $9,011
    Pacific Lending LLC 1 5.63% $9,775
    CORNERSTONE HOME LENDING, INC. 1 5.75% $21,029
    Colonial Savings, F.A. 1 5.50% $7,352
    PILGRIM MORTGAGE LLC 1 7.50% $11,652
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 4.50% $16,543
    Citizens Bank 1 6.25% $10,215
    PLUS RELOCATION MORTGAGE, LLC 1 6.75% $12,098
    1ST SIGNATURE LENDING, LLC 1 5.75% $13,791
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.63% $10,285
    Prosperity Bank 1 4.75% $11,081
    Prosperity Home Mortgage, LLC 1 4.62% $11,524
    CHERRY CREEK MORTGAGE, LLC 1 5.25% $6,621
    Barrington Bank & Trust Company, N.A. 1 5.63% $6,783
    Republic State Mortgage Co. 1 5.25% $12,043
    S1L, Inc. 1 6.25% $10,865
    SeaTrust Mortgage Company 1 6.13% $14,383
    SECURITYNATIONAL MORTGAGE COMPANY 1 4.63% $8,687
    Servion, Inc. 1 6.63% $12,661
    ASPIRE FINANCIAL, INC. 1 6.25% $14,948
    Southside Bank 1 3.50% $9,843
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.13% $5,716
    UNIVERSAL LENDING CORPORATION 1 5.63% $11,654
    VILLAGE CAPITAL MORTGAGE 1 2.99% $2,915
    TIB The Independent Bankersbank 1 5.25% $6,416
    Town Square Mortgage & Investments, Inc. 1 5.63% $9,159
    INTEGRITY MORTGAGE CORPORATION OF TEXAS 1 5.50% $14,189
    HALLMARK HOME MORTGAGE, LLC 1 7.13% $9,284
    JAMES B. NUTTER & COMPANY 1 5.25% $8,659
    Wallick & Volk, Inc. 1 5.63% $12,935
    Guaranty Bank & Trust, N.A. 1 6.63% $11,752

    The top Tyler FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 41 FHA loans originated. Their average total fees are $9,303, which is $2,146 lower than the next largest lender, CMG MORTGAGE, INC..

    The lowest fee Tyler FHA lenders (with over 10 loans originated) are Gateway First Bank ($8,814), UNITED WHOLESALE MORTGAGE, LLC ($9,303), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,591), MORTGAGE FINANCIAL SERVICES, LLC ($10,529) and QUICKEN LOANS, LLC ($10,700).

    The lowest rate Tyler FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.25%), CARDINAL FINANCIAL (4.66%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.75%), UNITED WHOLESALE MORTGAGE, LLC (4.80%) and FINANCE OF AMERICA MORTGAGE LLC (4.88%).

    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
    TYLER, TX SMITH 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Tyler (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 $265,000 (9.6%) $391,219 (21.8%) 0.98 873
    2018-02-01 $266,495 (9.9%) $388,450 (20.3%) 0.97 891
    2018-03-01 $277,245 (11.3%) $395,055 (21.3%) 0.97 895
    2018-04-01 $282,438 (8.7%) $400,769 (18.0%) 0.96 914
    2018-05-01 $285,473 (9.0%) $401,581 (17.0%) 0.95 938
    2018-06-01 $274,900 (3.0%) $363,791 (-3.2%) 0.92 985
    2018-07-01 $274,000 (1.9%) $357,897 (-4.3%) 0.92 985
    2018-08-01 $265,000 (-1.7%) $345,902 (-8.9%) 0.89 993
    2018-09-01 $265,000 (-3.6%) $344,722 (-10.8%) 0.89 929
    2018-10-01 $267,625 (-2.7%) $348,346 (-10.6%) 0.91 933
    2018-11-01 $269,250 (-0.3%) $349,044 (-10.0%) 0.91 897
    2018-12-01 $275,000 (2.6%) $353,337 (-8.8%) 0.95 823
    2019-01-01 $275,575 (4.0%) $354,107 (-9.5%) 0.95 775
    2019-02-01 $269,375 (1.1%) $356,912 (-8.1%) 0.91 761
    2019-03-01 $280,100 (1.0%) $369,161 (-6.6%) 0.92 759
    2019-04-01 $294,950 (4.4%) $378,578 (-5.5%) 0.94 786
    2019-05-01 $306,950 (7.5%) $393,063 (-2.1%) 0.96 787
    2019-06-01 $299,999 (9.1%) $392,427 (7.9%) 0.94 786
    2019-07-01 $297,250 (8.5%) $380,894 (6.4%) 0.93 780
    2019-08-01 $292,273 (10.3%) $374,115 (8.2%) 0.93 772
    2019-09-01 $290,432 (9.6%) $370,418 (7.5%) 0.93 770
    2019-10-01 $289,205 (8.1%) $369,055 (5.9%) 0.93 765
    2019-11-01 $275,000 (2.1%) $359,013 (2.9%) 0.90 754
    2019-12-01 $269,450 (-2.0%) $346,731 (-1.9%) 0.90 737
    2020-01-01 $269,925 (-2.1%) $348,452 (-1.6%) 0.90 701
    2020-02-01 $269,900 (0.2%) $358,178 (0.4%) 0.88 664
    2020-03-01 $269,950 (-3.6%) $365,919 (-0.9%) 0.85 689
    2020-04-01 $275,000 (-6.8%) $363,970 (-3.9%) 0.86 691
    2020-05-01 $285,000 (-7.2%) $387,690 (-1.4%) 0.87 680
    2020-06-01 $291,125 (-3.0%) $391,931 (-0.1%) 0.86 672
    2020-07-01 $293,688 (-1.2%) $400,993 (5.3%) 0.85 625
    2020-08-01 $289,500 (-1.0%) $399,081 (6.7%) 0.83 597
    2020-09-01 $294,850 (1.5%) $400,784 (8.2%) 0.84 572
    2020-10-01 $290,000 (0.3%) $405,117 (9.8%) 0.83 506
    2020-11-01 $284,950 (3.6%) $388,882 (8.3%) 0.83 481
    2020-12-01 $295,000 (9.5%) $404,983 (16.8%) 0.88 438
    2021-01-01 $289,975 (7.4%) $391,313 (12.3%) 0.87 387
    2021-02-01 $299,750 (11.1%) $404,160 (12.8%) 0.87 335
    2021-03-01 $299,450 (10.9%) $424,483 (16.0%) 0.85 301
    2021-04-01 $312,625 (13.7%) $453,425 (24.6%) 0.85 311
    2021-05-01 $342,490 (20.2%) $472,384 (21.9%) 0.91 318
    2021-06-01 $364,975 (25.4%) $522,568 (33.3%) 0.96 337
    2021-07-01 $360,000 (22.6%) $514,156 (28.2%) 0.95 381
    2021-08-01 $356,575 (23.2%) $488,169 (22.3%) 0.95 434
    2021-09-01 $351,275 (19.1%) $498,452 (24.4%) 0.94 425
    2021-10-01 $349,988 (20.7%) $504,132 (24.4%) 0.93 401
    2021-11-01 $359,938 (26.3%) $541,962 (39.4%) 0.96 357
    2021-12-01 $361,644 (22.6%) $541,818 (33.8%) 0.98 349
    2022-01-01 $364,700 (25.8%) $549,645 (40.5%) 0.99 309
    2022-02-01 $369,747 (23.4%) $555,158 (37.4%) 0.96 274
    2022-03-01 $357,850 (19.5%) $548,102 (29.1%) 0.90 265
    2022-04-01 $359,990 (15.2%) $569,936 (25.7%) 0.86 312
    2022-05-01 $382,200 (11.6%) $562,751 (19.1%) 0.87 402
    2022-06-01 $396,625 (8.7%) $571,245 (9.3%) 0.88 480
    2022-07-01 $394,700 (9.6%) $544,271 (5.9%) 0.89 556
    2022-08-01 $389,188 (9.2%) $554,286 (13.5%) 0.90 598
    2022-09-01 $393,000 (11.9%) $539,024 (8.1%) 0.92 649
    2022-10-01 $399,000 (14.0%) $539,269 (7.0%) 0.94 688
    2022-11-01 $399,450 (11.0%) $522,531 (-3.6%) 0.96 718
    2022-12-01 $403,750 (11.6%) $532,372 (-1.7%) 1.00 705
    2023-01-01 $400,000 (9.7%) $537,968 (-2.1%) 0.99 685
    2023-02-01 $405,935 (9.8%) $540,819 (-2.6%) 0.98 681
    2023-03-01 $409,035 (14.3%) $551,145 (0.6%) 0.96 685
    2023-04-01 $399,000 (10.8%) $535,189 (-6.1%) 0.93 696
    2023-05-01 $399,450 (4.5%) $532,862 (-5.3%) 0.90 710
    Tyler's median listing price for 2023-05-01 was $399,450, a difference of $17,250 (4.5%) versus the prior year and $450 versus the prior month.

    Tyler's median listing price comes in at 90% of the national average.

    Tyler's average listing price for 2023-05-01 was $532,862, a difference of $-29,889 (-5.3%) versus the prior year and $-2,327 versus the prior month.

    For the 2023-05-01 period, Tyler had 710 MLS listings, a difference of 14 listings (2%) versus the prior month and 308 listings (77%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Tyler (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 87 days 2,304 sqft
    2018-02-01 78 days 2,263 sqft
    2018-03-01 66 days 2,304 sqft
    2018-04-01 63 days 2,323 sqft
    2018-05-01 59 days 2,336 sqft
    2018-06-01 57 days 2,304 sqft
    2018-07-01 60 days 2,283 sqft
    2018-08-01 65 days 2,269 sqft
    2018-09-01 72 days 2,278 sqft
    2018-10-01 66 days 2,275 sqft
    2018-11-01 67 days 2,266 sqft
    2018-12-01 78 days 2,275 sqft
    2019-01-01 86 days 2,276 sqft
    2019-02-01 83 days 2,234 sqft
    2019-03-01 68 days 2,275 sqft
    2019-04-01 54 days 2,344 sqft
    2019-05-01 49 days 2,435 sqft
    2019-06-01 51 days 2,437 sqft
    2019-07-01 53 days 2,430 sqft
    2019-08-01 57 days 2,413 sqft
    2019-09-01 59 days 2,393 sqft
    2019-10-01 60 days 2,370 sqft
    2019-11-01 67 days 2,301 sqft
    2019-12-01 71 days 2,220 sqft
    2020-01-01 76 days 2,166 sqft
    2020-02-01 64 days 2,151 sqft
    2020-03-01 53 days 2,182 sqft
    2020-04-01 57 days 2,183 sqft
    2020-05-01 59 days 2,211 sqft
    2020-06-01 51 days 2,265 sqft
    2020-07-01 51 days 2,236 sqft
    2020-08-01 52 days 2,236 sqft
    2020-09-01 53 days 2,252 sqft
    2020-10-01 52 days 2,200 sqft
    2020-11-01 51 days 2,206 sqft
    2020-12-01 64 days 2,251 sqft
    2021-01-01 67 days 2,177 sqft
    2021-02-01 44 days 2,150 sqft
    2021-03-01 49 days 2,148 sqft
    2021-04-01 33 days 2,188 sqft
    2021-05-01 36 days 2,202 sqft
    2021-06-01 38 days 2,259 sqft
    2021-07-01 38 days 2,203 sqft
    2021-08-01 38 days 2,191 sqft
    2021-09-01 41 days 2,192 sqft
    2021-10-01 50 days 2,142 sqft
    2021-11-01 56 days 2,131 sqft
    2021-12-01 55 days 2,108 sqft
    2022-01-01 54 days 2,029 sqft
    2022-02-01 46 days 2,062 sqft
    2022-03-01 38 days 2,002 sqft
    2022-04-01 29 days 2,001 sqft
    2022-05-01 30 days 2,048 sqft
    2022-06-01 33 days 2,105 sqft
    2022-07-01 36 days 2,073 sqft
    2022-08-01 40 days 2,050 sqft
    2022-09-01 44 days 2,093 sqft
    2022-10-01 50 days 2,144 sqft
    2022-11-01 54 days 2,145 sqft
    2022-12-01 70 days 2,174 sqft
    2023-01-01 73 days 2,126 sqft
    2023-02-01 68 days 2,150 sqft
    2023-03-01 57 days 2,170 sqft
    2023-04-01 50 days 2,120 sqft
    2023-05-01 48 days 2,179 sqft
    Tyler's median listing age (time on market) for 2023-05-01 was 48 days. This is 61% longer than the same period one year ago.

    Tyler's median square footage for active listings during the 2023-05-01 period was 2,179 sqft. One year prior, the average listing was 2,048 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).