Tyler FHA Loan Rates, Closing Costs & Stats
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
0.12%
for the week of 2023-01-20, compared to the national average (all FHA variants) of
0% for the same period.
Tyler's average FHA mortgage closing costs are $7,058.
The average rate for the prior week (2023-01-13) was
6.35% and
one month ago for the week of 2022-12-16, the
average rate was 6.44%.
The average rate one year ago was 3.63%.
For refis of the same type during the week of 2023-01-20, the average rate
was -0.36%.
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.
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 MORTGAGE ($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 MORTGAGE (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 | $265,000 (9.6%) | $391,219 (21.7%) | 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%) | 0.91 | 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%) | 0.90 | 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%) | $369,260 (-6.5%) | 0.92 | 759 |
2019-04-01 | $294,950 (4.4%) | $378,715 (-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%) | $381,079 (6.5%) | 0.93 | 780 |
2019-08-01 | $292,818 (10.5%) | $374,384 (8.2%) | 0.93 | 772 |
2019-09-01 | $290,670 (9.7%) | $370,535 (7.5%) | 0.93 | 770 |
2019-10-01 | $289,239 (8.1%) | $369,072 (6.0%) | 0.93 | 765 |
2019-11-01 | $275,000 (2.1%) | $358,608 (2.7%) | 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 (5.2%) | 0.85 | 625 |
2020-08-01 | $289,500 (-1.1%) | $399,081 (6.6%) | 0.83 | 597 |
2020-09-01 | $294,850 (1.4%) | $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 (8.4%) | 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 | $364,950 (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%) | 1.01 | 705 |
Tyler's median listing price comes in at 101% of the national average.
Tyler's average listing price for 2022-12-01 was $532,372, a difference of $-9,446 (-1.7%) versus the prior year and $9,841 versus the prior month.
For the 2022-12-01 period, Tyler had 705 MLS listings, a difference of -13 listings (-2%) versus the prior month and 356 listings (102%) 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 | 89 days | 2,304 sqft |
2018-02-01 | 82 days | 2,263 sqft |
2018-03-01 | 68 days | 2,304 sqft |
2018-04-01 | 64 days | 2,323 sqft |
2018-05-01 | 61 days | 2,336 sqft |
2018-06-01 | 59 days | 2,304 sqft |
2018-07-01 | 63 days | 2,283 sqft |
2018-08-01 | 67 days | 2,269 sqft |
2018-09-01 | 74 days | 2,278 sqft |
2018-10-01 | 70 days | 2,275 sqft |
2018-11-01 | 71 days | 2,266 sqft |
2018-12-01 | 81 days | 2,275 sqft |
2019-01-01 | 89 days | 2,276 sqft |
2019-02-01 | 87 days | 2,235 sqft |
2019-03-01 | 71 days | 2,277 sqft |
2019-04-01 | 55 days | 2,344 sqft |
2019-05-01 | 50 days | 2,435 sqft |
2019-06-01 | 53 days | 2,437 sqft |
2019-07-01 | 55 days | 2,430 sqft |
2019-08-01 | 58 days | 2,413 sqft |
2019-09-01 | 60 days | 2,393 sqft |
2019-10-01 | 61 days | 2,370 sqft |
2019-11-01 | 67 days | 2,301 sqft |
2019-12-01 | 72 days | 2,220 sqft |
2020-01-01 | 78 days | 2,166 sqft |
2020-02-01 | 66 days | 2,151 sqft |
2020-03-01 | 53 days | 2,182 sqft |
2020-04-01 | 58 days | 2,183 sqft |
2020-05-01 | 60 days | 2,211 sqft |
2020-06-01 | 53 days | 2,265 sqft |
2020-07-01 | 52 days | 2,236 sqft |
2020-08-01 | 54 days | 2,235 sqft |
2020-09-01 | 55 days | 2,252 sqft |
2020-10-01 | 54 days | 2,200 sqft |
2020-11-01 | 53 days | 2,206 sqft |
2020-12-01 | 65 days | 2,251 sqft |
2021-01-01 | 69 days | 2,177 sqft |
2021-02-01 | 46 days | 2,150 sqft |
2021-03-01 | 51 days | 2,148 sqft |
2021-04-01 | 34 days | 2,188 sqft |
2021-05-01 | 37 days | 2,202 sqft |
2021-06-01 | 39 days | 2,259 sqft |
2021-07-01 | 39 days | 2,203 sqft |
2021-08-01 | 38 days | 2,191 sqft |
2021-09-01 | 42 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 | 55 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 | 2,046 sqft |
2022-06-01 | 33 days | 2,104 sqft |
2022-07-01 | 36 days | 2,062 sqft |
2022-08-01 | 40 days | 2,049 sqft |
2022-09-01 | 44 days | 2,093 sqft |
2022-10-01 | 50 days | 2,144 sqft |
2022-11-01 | 55 days | 2,145 sqft |
2022-12-01 | 71 days | 2,174 sqft |
Tyler's median square footage for active listings during the 2022-12-01 period was 2,174 sqft. One year prior, the average listing was 2,108 sqft.