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%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 MORTGAGE 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 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. 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 (21.7%) 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 for 2022-12-01 was $403,750, a difference of $42,106 (11.6%) versus the prior year and $4,300 versus the prior month.

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. Louis
Date 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 listing age (time on market) for 2022-12-01 was 71 days. This is 29% longer than the same period one year ago.

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.

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).