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%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Tyler level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Gateway First Bank 71 3.79% $7,655
MORTGAGE FINANCIAL SERVICES, LLC 52 3.18% $8,050
QUICKEN LOANS, LLC 48 2.76% $7,080
UNITED WHOLESALE MORTGAGE, LLC 41 2.65% $6,704
FINANCE OF AMERICA MORTGAGE LLC 31 3.32% $8,080
GUILD MORTGAGE COMPANY 29 3.33% $9,346
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 27 3.13% $8,906
ACADEMY MORTGAGE CORPORATION 27 3.40% $9,207
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 25 3.16% $8,618
Mr. Cooper ( Nationstar Mortgage ) 25 3.43% $3,100
LAKEVIEW LOAN SERVICING, LLC 24 3.07% $4,840
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 23 3.08% $8,385
CMG MORTGAGE, INC. 22 2.92% $8,485
FREEDOM MORTGAGE CORPORATION 21 2.92% $5,104
VILLAGE CAPITAL & INVESTMENT LLC 13 2.99% $2,882
AMCAP MORTGAGE, LTD. 12 3.76% $10,606
PRIMARY RESIDENTIAL MORTGAGE, INC. 11 3.47% $8,402
PLAZA HOME MORTGAGE, INC. 11 3.49% $7,445
BancorpSouth Bank 11 3.06% $7,398
Carrington Mortgage Services, LLC 10 3.59% $7,480
CALIBER HOME LOANS, INC. 9 2.99% $8,780
PENNYMAC LOAN SERVICES, LLC 9 3.21% $5,471
Nations Lending Corporation 8 3.45% $8,711
INTERLINC MORTGAGE SERVICES, LLC 8 3.27% $7,392
SFMC, LP 7 3.43% $11,926
SOUTHWEST FUNDING, LP 7 3.36% $11,248
MOVEMENT MORTGAGE, LLC 7 3.30% $8,169
CERTAINTY HOME LOANS, LLC 7 3.80% $7,601
Regions Bank 6 2.75% $7,561
Paramount Residential Mortgage Group, Inc. 6 3.52% $8,714
LOANDEPOT.COM, LLC 6 3.14% $8,257
AmeriHome Mortgage Company, LLC 6 3.04% $4,922
Lakeview Community Capital, LLC 5 3.14% $4,604
GUARANTEED RATE, INC. 5 3.13% $9,468
HOMEBRIDGE FINANCIAL SERVICES, INC. 4 2.81% $6,841
HOME POINT FINANCIAL CORPORATION 4 2.78% $6,523
AMERICAN FINANCIAL NETWORK, INC. 3 3.25% $10,176
WILLOW BEND MORTGAGE COMPANY, LLC 3 3.04% $7,537
CROSSCOUNTRY MORTGAGE, LLC 3 3.38% $7,483
AMERISAVE MORTGAGE CORPORATION 3 2.83% $9,285
First Guaranty Mortgage Corporation 3 2.92% $5,626
MORTGAGE SOLUTIONS OF COLORADO, LLC 3 3.13% $11,892
STEARNS LENDING, LLC 3 3.04% $9,786
GUARANTEED RATE AFFINITY, LLC 3 3.13% $5,358
NEWREZ LLC 2 2.87% $4,077
EVERETT FINANCIAL, INC. 2 3.44% $8,189
MID AMERICA MORTGAGE, INC. 2 3.31% $3,213
Loan Simple, Inc. 2 4.00% $7,418
ALTRA 2 3.06% $11,162
Commercial Bank of Texas 2 2.69% $8,313
BECKAM FUNDING CORP. 2 3.75% $13,528
First United Bank and Trust Company 2 3.00% $6,033
BROKER SOLUTIONS, INC. 2 3.06% $7,051
Prosperity Home Mortgage, LLC 2 3.94% $7,392
ASPIRE FINANCIAL, INC. 2 2.31% $8,987
AMERICAN PACIFIC MORTGAGE CORPORATION 2 2.88% $11,528
UNION HOME MORTGAGE CORP. 2 3.25% $8,013
HOMESIDE FINANCIAL, LLC 2 3.25% $9,522
SECURITYNATIONAL MORTGAGE COMPANY 2 2.94% $8,657
NTFN, INC. 2 3.38% $5,792
THRIVE MORTGAGE, LLC 2 3.56% $7,854
INTEGRITY MORTGAGE CORPORATION OF TEXAS 1 3.00% $8,131
American Mortgage Bank, LLC 1 4.13% $6,818
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 3.38% $7,187
Bank of America 1 3.13% $6,852
Bank of England 1 3.75% $9,034
CALCON MUTUAL MORTGAGE LLC 1 3.75% $18,419
Citizens Bank 1 3.00% $8,969
Colonial Savings, F.A. 1 3.75% $6,556
Colten Mortgage, LLC 1 3.00% $5,739
Commerce Home Mortgage, Inc. 1 3.13% $10,473
Equity Prime Mortgage LLC 1 3.25% $6,292
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 3.00% $8,599
FBC MORTGAGE, LLC 1 2.88% $10,561
First National Bank Texas 1 2.75% $6,812
FLAT BRANCH MORTGAGE, INC. 1 4.13% $8,684
GREAT WESTERN FINANCIAL SERVICES, INC. 1 2.88% $11,077
Hometown Lenders, Inc. 1 3.13% $10,277
KELLER MORTGAGE, LLC 1 3.13% $5,309
LEADERONE FINANCIAL CORPORATION 1 3.50% $8,956
LENOX FINANCIAL MORTGAGE CORPORATION 1 3.00% $7,078
Magnolia Bank 1 2.75% $7,963
MICHIGAN MUTUAL, INC. 1 3.50% $13,251
NATIONS DIRECT MORTGAGE, LLC 1 2.75% $7,074
PLANET HOME LENDING, LLC 1 2.75% $5,618
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 2.63% $8,798
RANLIFE, INC. 1 2.88% $8,328
RESIDENTIAL BANCORP. 1 2.75% $11,908
ROUNDPOINT MORTGAGE SERVICING CORPORATION 1 2.75% $6,894
SOUTHWEST STAGE FUNDING, LLC 1 2.75% $3,926
SUN WEST MORTGAGE COMPANY, INC. 1 2.75% $6,750
TJC Mortgage, Inc. 1 2.75% $9,391
U.S. Bank 1 3.38% $8,232
VERITAS FUNDING, LLC 1 2.50% $7,879
Wallick & Volk, Inc. 1 4.00% $5,330
WESTERN EXPRESS LENDING 1 2.75% $9,943

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. Louis
Date 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 for 2022-04-01 was $369,000, a difference of $30,000 (8.9%) versus the prior year and $0 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-04-01 was 31 days. This is -14% shorter than the same period one year ago.

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.

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).