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 69 lenders originated 442 FHA loans during 2023. The total origination value was $113,740,000, with an average FHA loan value of $257,330.

    Tyler FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Tyler averaged 7.03% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Tyler's average FHA mortgage closing costs are $8,065.

    The average rate for the prior week (2024-04-12) was 6.62% and one month ago for the week of 2024-03-15, the average rate was 6.89%.

    The average rate one year ago was 6.52%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.89%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 56 6.62% $10,479
    MANN FINANCIAL INC. 33 6.94% $9,109
    QUICKEN LOANS, LLC 30 6.54% $13,323
    CMG MORTGAGE, INC. 25 7.18% $12,127
    CARDINAL FINANCIAL 20 6.67% $13,069
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 18 6.81% $12,879
    GUILD MORTGAGE COMPANY 17 6.39% $9,592
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 16 6.95% $13,074
    MORTGAGE FINANCIAL SERVICES, LLC 12 7.02% $11,358
    HALLMARK HOME MORTGAGE, LLC 12 7.11% $11,020
    BancorpSouth 11 6.26% $10,331
    GUARANTEED RATE, INC. 10 6.61% $12,905
    SFMC, LP 10 7.19% $15,995
    SUCCESS MORTGAGE PARTNERS, INC. 9 6.56% $11,150
    TIB The Independent Bankersbank 6 6.65% $17,411
    Paramount Residential Mortgage Group, Inc. 6 6.98% $14,476
    PLAZA HOME MORTGAGE, INC. 5 6.93% $12,342
    Equity Prime Mortgage LLC 4 7.16% $11,662
    Plains Commerce Bank 4 6.47% $10,065
    UNION HOME MORTGAGE CORP. 4 6.25% $15,455
    Flagstar Bank, FSB 4 6.84% $12,063
    AMCAP MORTGAGE, LTD. 3 7.33% $13,145
    EVERETT FINANCIAL, INC. 3 7.04% $12,372
    INTERLINC MORTGAGE SERVICES, LLC 3 6.13% $6,823
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 7.58% $14,390
    NEWREZ LLC 3 7.38% $8,728
    CROSSCOUNTRY MORTGAGE, LLC 3 6.79% $12,458
    OCMBC, INC. 2 7.19% $18,914
    PILGRIM MORTGAGE LLC 2 6.69% $15,505
    FREEDOM MORTGAGE CORPORATION 2 7.12% $12,876
    AMERICAN FINANCIAL NETWORK, INC. 2 6.06% $12,902
    Prosperity Bank 2 5.94% $9,492
    Prosperity Home Mortgage, LLC 2 6.56% $15,354
    Town Square Mortgage & Investments, Inc. 2 7.13% $11,239
    U.S. Bank 2 6.69% $11,713
    Waterstone Mortgage Corporation 2 6.75% $10,927
    ZILLOW HOME LOANS, LLC 2 6.56% $10,254
    AMERICAN PACIFIC MORTGAGE CORPORATION 2 7.13% $15,566
    LOANDEPOT.COM, LLC 2 7.63% $11,598
    Cornerstone First Mortgage, Inc 2 6.63% $12,087
    Neighborhood Loans, Inc. 2 7.13% $17,696
    OPEN MORTGAGE, LLC 2 6.31% $10,368
    SUN WEST MORTGAGE COMPANY, INC. 1 5.13% $19,065
    ALTRA 1 6.13% $8,637
    American Mortgage & Equity Consultants, Inc. 1 7.13% $16,198
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.75% $15,413
    Bank of England 1 6.50% $13,658
    CALCON MUTUAL MORTGAGE LLC 1 7.50% $15,794
    Carrington Mortgage Services, LLC 1 7.63% $10,427
    CHURCHILL MORTGAGE CORPORATION 1 5.38% $9,551
    Colonial Savings, F.A. 1 6.50% $18,002
    GARDNER FINANCIAL SERVICES, LTD. 1 6.75% $16,154
    GOLDENWEST 1 5.63% $7,354
    Ixonia Bank 1 6.50% $9,734
    LEADERONE FINANCIAL CORPORATION 1 6.25% $10,354
    ML Mortgage Corp. 1 6.63% $8,909
    Nations Lending Corporation 1 7.13% $10,656
    NATIONS RELIABLE LENDING, LLC 1 5.75% $17,310
    Network Funding, L.P. 1 6.13% $14,390
    NTFN, INC. 1 7.63% $12,415
    PENNYMAC LOAN SERVICES, LLC 1 7.25% $10,220
    PLANET HOME LENDING, LLC 1 5.38% $10,119
    PLUS RELOCATION MORTGAGE, LLC 1 6.63% $12,641
    PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.25% $16,179
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $11,543
    RANLIFE, INC. 1 6.25% $12,205
    S1L, Inc. 1 7.63% $9,859
    ACADEMY MORTGAGE CORPORATION 1 5.63% $19,631
    T2 FINANCIAL LLC 1 6.75% $14,345

    The top Tyler FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 56 FHA loans originated. Their average total fees are $10,479, which is $1,371 higher than the next largest lender, MANN FINANCIAL INC..

    The lowest fee Tyler FHA lenders (with over 10 loans originated) are MANN FINANCIAL INC. ($9,109), GUILD MORTGAGE COMPANY ($9,592), BancorpSouth ($10,331), UNITED WHOLESALE MORTGAGE, LLC ($10,479) and HALLMARK HOME MORTGAGE, LLC ($11,020).

    The lowest rate Tyler FHA lenders (with over 10 loans originated) are BancorpSouth (6.26%), GUILD MORTGAGE COMPANY (6.39%), QUICKEN LOANS, LLC (6.54%), GUARANTEED RATE, INC. (6.61%) and UNITED WHOLESALE MORTGAGE, LLC (6.62%).

    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 $265,225 (9.6%) $391,701 (21.7%) 0.98 870
    2018-02-01 $267,625 (10.3%) $389,085 (20.3%) 0.97 886
    2018-03-01 $277,750 (11.6%) $395,879 (21.4%) 0.97 892
    2018-04-01 $282,438 (8.7%) $400,994 (18.1%) 0.96 912
    2018-05-01 $285,473 (9.1%) $401,829 (17.1%) 0.95 936
    2018-06-01 $274,900 (2.7%) $363,676 (-3.2%) 0.92 983
    2018-07-01 $274,000 (1.9%) $357,958 (-4.3%) 0.92 983
    2018-08-01 $265,000 (-1.8%) $346,080 (-9.0%) 0.89 991
    2018-09-01 $265,000 (-3.6%) $344,802 (-10.9%) 0.89 926
    2018-10-01 $265,875 (-3.3%) $348,448 (-10.7%) 0.90 930
    2018-11-01 $269,250 (-0.5%) $349,021 (-10.1%) 0.91 895
    2018-12-01 $275,000 (2.5%) $353,121 (-9.0%) 0.95 820
    2019-01-01 $276,425 (4.2%) $353,979 (-9.6%) 0.96 771
    2019-02-01 $269,700 (0.8%) $356,842 (-8.3%) 0.91 758
    2019-03-01 $280,100 (0.9%) $369,130 (-6.8%) 0.92 757
    2019-04-01 $294,950 (4.4%) $378,495 (-5.6%) 0.94 785
    2019-05-01 $304,950 (6.8%) $392,852 (-2.2%) 0.95 785
    2019-06-01 $299,900 (9.1%) $392,423 (7.9%) 0.94 782
    2019-07-01 $297,000 (8.4%) $379,900 (6.1%) 0.93 778
    2019-08-01 $291,779 (10.1%) $373,213 (7.8%) 0.92 769
    2019-09-01 $290,216 (9.5%) $369,488 (7.2%) 0.93 767
    2019-10-01 $289,174 (8.8%) $367,975 (5.6%) 0.93 763
    2019-11-01 $275,000 (2.1%) $357,763 (2.5%) 0.90 753
    2019-12-01 $269,450 (-2.0%) $346,018 (-2.0%) 0.90 735
    2020-01-01 $269,900 (-2.4%) $348,328 (-1.6%) 0.90 699
    2020-02-01 $269,900 (0.1%) $358,346 (0.4%) 0.88 661
    2020-03-01 $269,900 (-3.6%) $365,769 (-0.9%) 0.85 686
    2020-04-01 $274,993 (-6.8%) $363,492 (-4.0%) 0.86 689
    2020-05-01 $285,000 (-6.5%) $387,269 (-1.4%) 0.87 678
    2020-06-01 $290,850 (-3.0%) $391,643 (-0.2%) 0.86 669
    2020-07-01 $292,000 (-1.7%) $400,572 (5.4%) 0.85 622
    2020-08-01 $289,500 (-0.8%) $399,299 (7.0%) 0.83 594
    2020-09-01 $294,850 (1.6%) $401,029 (8.5%) 0.84 568
    2020-10-01 $290,000 (0.3%) $405,427 (10.2%) 0.83 503
    2020-11-01 $284,975 (3.6%) $389,446 (8.9%) 0.83 478
    2020-12-01 $295,000 (9.5%) $405,272 (17.1%) 0.88 436
    2021-01-01 $289,950 (7.4%) $391,726 (12.5%) 0.87 385
    2021-02-01 $299,600 (11.0%) $404,255 (12.8%) 0.87 334
    2021-03-01 $298,700 (10.7%) $424,656 (16.1%) 0.85 300
    2021-04-01 $312,500 (13.6%) $453,549 (24.8%) 0.85 310
    2021-05-01 $342,490 (20.2%) $472,524 (22.0%) 0.91 317
    2021-06-01 $364,950 (25.5%) $522,819 (33.5%) 0.96 336
    2021-07-01 $360,000 (23.3%) $514,385 (28.4%) 0.95 380
    2021-08-01 $356,700 (23.2%) $488,691 (22.4%) 0.95 432
    2021-09-01 $350,000 (18.7%) $497,789 (24.1%) 0.93 423
    2021-10-01 $349,944 (20.7%) $504,302 (24.4%) 0.93 399
    2021-11-01 $359,719 (26.2%) $542,062 (39.2%) 0.96 357
    2021-12-01 $361,519 (22.6%) $541,818 (33.7%) 0.98 349
    2022-01-01 $364,500 (25.7%) $549,555 (40.3%) 0.99 308
    2022-02-01 $368,800 (23.1%) $555,600 (37.4%) 0.96 273
    2022-03-01 $357,500 (19.7%) $548,464 (29.2%) 0.90 264
    2022-04-01 $364,990 (16.8%) $576,841 (27.2%) 0.87 298
    2022-05-01 $382,498 (11.7%) $567,745 (20.2%) 0.87 391
    2022-06-01 $397,225 (8.8%) $571,865 (9.4%) 0.88 469
    2022-07-01 $395,000 (9.7%) $544,601 (5.9%) 0.89 549
    2022-08-01 $389,638 (9.2%) $554,014 (13.4%) 0.90 589
    2022-09-01 $393,500 (12.4%) $539,050 (8.3%) 0.92 636
    2022-10-01 $399,900 (14.3%) $540,632 (7.2%) 0.94 683
    2022-11-01 $399,675 (11.1%) $523,322 (-3.5%) 0.96 713
    2022-12-01 $405,000 (12.0%) $533,201 (-1.6%) 1.00 701
    2023-01-01 $400,000 (9.7%) $538,412 (-2.0%) 0.99 680
    2023-02-01 $409,443 (11.0%) $542,713 (-2.3%) 0.99 672
    2023-03-01 $410,820 (14.9%) $554,063 (1.0%) 0.97 672
    2023-04-01 $399,700 (9.5%) $538,296 (-6.7%) 0.93 681
    2023-05-01 $399,450 (4.4%) $534,790 (-5.8%) 0.91 699
    2023-06-01 $400,000 (0.7%) $519,942 (-9.1%) 0.90 767
    2023-07-01 $392,000 (-0.8%) $508,296 (-6.7%) 0.89 811
    2023-08-01 $385,000 (-1.2%) $512,396 (-7.5%) 0.88 861
    2023-09-01 $385,940 (-1.9%) $525,551 (-2.5%) 0.90 877
    2023-10-01 $381,950 (-4.5%) $512,004 (-5.3%) 0.90 937
    2023-11-01 $375,000 (-6.2%) $507,193 (-3.1%) 0.89 964
    2023-12-01 $375,000 (-7.4%) $503,657 (-5.5%) 0.91 942
    2024-01-01 $375,000 (-6.3%) $493,207 (-8.4%) 0.92 883
    2024-02-01 $382,628 (-6.6%) $493,989 (-9.0%) 0.92 879
    2024-03-01 $391,650 (-4.7%) $491,179 (-11.4%) 0.92 914
    Tyler's median listing price for 2024-03-01 was $391,650, a difference of $-19,170 (-4.7%) versus the prior year and $9,022 versus the prior month.

    Tyler's median listing price comes in at 92% of the national average.

    Tyler's average listing price for 2024-03-01 was $491,179, a difference of $-62,884 (-11.4%) versus the prior year and $-2,810 versus the prior month.

    For the 2024-03-01 period, Tyler had 914 MLS listings, a difference of 35 listings (4%) versus the prior month and 242 listings (36%) 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 86 days 2,310 sqft
    2018-02-01 77 days 2,279 sqft
    2018-03-01 66 days 2,304 sqft
    2018-04-01 63 days 2,324 sqft
    2018-05-01 59 days 2,337 sqft
    2018-06-01 57 days 2,306 sqft
    2018-07-01 60 days 2,285 sqft
    2018-08-01 65 days 2,270 sqft
    2018-09-01 72 days 2,278 sqft
    2018-10-01 66 days 2,276 sqft
    2018-11-01 67 days 2,267 sqft
    2018-12-01 77 days 2,272 sqft
    2019-01-01 86 days 2,276 sqft
    2019-02-01 83 days 2,232 sqft
    2019-03-01 69 days 2,274 sqft
    2019-04-01 54 days 2,344 sqft
    2019-05-01 49 days 2,435 sqft
    2019-06-01 52 days 2,434 sqft
    2019-07-01 53 days 2,429 sqft
    2019-08-01 57 days 2,414 sqft
    2019-09-01 59 days 2,394 sqft
    2019-10-01 60 days 2,366 sqft
    2019-11-01 67 days 2,301 sqft
    2019-12-01 71 days 2,211 sqft
    2020-01-01 76 days 2,155 sqft
    2020-02-01 64 days 2,150 sqft
    2020-03-01 53 days 2,177 sqft
    2020-04-01 57 days 2,182 sqft
    2020-05-01 59 days 2,208 sqft
    2020-06-01 51 days 2,259 sqft
    2020-07-01 51 days 2,230 sqft
    2020-08-01 52 days 2,234 sqft
    2020-09-01 53 days 2,249 sqft
    2020-10-01 51 days 2,199 sqft
    2020-11-01 51 days 2,204 sqft
    2020-12-01 64 days 2,251 sqft
    2021-01-01 67 days 2,177 sqft
    2021-02-01 44 days 2,149 sqft
    2021-03-01 49 days 2,147 sqft
    2021-04-01 33 days 2,186 sqft
    2021-05-01 36 days 2,202 sqft
    2021-06-01 38 days 2,258 sqft
    2021-07-01 38 days 2,201 sqft
    2021-08-01 38 days 2,191 sqft
    2021-09-01 41 days 2,185 sqft
    2021-10-01 50 days 2,130 sqft
    2021-11-01 56 days 2,133 sqft
    2021-12-01 55 days 2,108 sqft
    2022-01-01 55 days 2,029 sqft
    2022-02-01 46 days 2,061 sqft
    2022-03-01 38 days 2,001 sqft
    2022-04-01 30 days 2,001 sqft
    2022-05-01 30 days 2,048 sqft
    2022-06-01 33 days 2,106 sqft
    2022-07-01 36 days 2,075 sqft
    2022-08-01 39 days 2,052 sqft
    2022-09-01 43 days 2,093 sqft
    2022-10-01 49 days 2,146 sqft
    2022-11-01 54 days 2,145 sqft
    2022-12-01 70 days 2,175 sqft
    2023-01-01 73 days 2,132 sqft
    2023-02-01 69 days 2,155 sqft
    2023-03-01 58 days 2,180 sqft
    2023-04-01 50 days 2,121 sqft
    2023-05-01 48 days 2,185 sqft
    2023-06-01 44 days 2,142 sqft
    2023-07-01 45 days 2,099 sqft
    2023-08-01 50 days 2,097 sqft
    2023-09-01 54 days 2,102 sqft
    2023-10-01 56 days 2,090 sqft
    2023-11-01 60 days 2,082 sqft
    2023-12-01 70 days 2,075 sqft
    2024-01-01 73 days 2,081 sqft
    2024-02-01 68 days 2,090 sqft
    2024-03-01 50 days 2,095 sqft
    Tyler's median listing age (time on market) for 2024-03-01 was 50 days. This is -14% shorter than the same period one year ago.

    Tyler's median square footage for active listings during the 2024-03-01 period was 2,095 sqft. One year prior, the average listing was 2,180 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).