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 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).