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 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 6.7% for the week of 2024-07-05, compared to the national average (all FHA variants) of 6.724% for the same period.

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

The average rate for the prior week (2024-06-28) was 6.86% and one month ago for the week of 2024-05-31, the average rate was 7.05%.

The average rate one year ago was 6.52%.

For refis of the same type during the week of 2024-07-05, the average rate was 6.56%.

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
2024-04-01 $395,000 (-1.2%) $489,377 (-9.1%) 0.92 891
2024-05-01 $395,000 (-1.1%) $494,843 (-7.5%) 0.89 940
2024-06-01 $387,500 (-3.1%) $490,247 (-5.7%) 0.87 1,043
Tyler's median listing price for 2024-06-01 was $387,500, a difference of $-12,500 (-3.1%) versus the prior year and $-7,500 versus the prior month.

Tyler's median listing price comes in at 87% of the national average.

Tyler's average listing price for 2024-06-01 was $490,247, a difference of $-29,695 (-5.7%) versus the prior year and $-4,596 versus the prior month.

For the 2024-06-01 period, Tyler had 1,043 MLS listings, a difference of 103 listings (11%) versus the prior month and 276 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
2024-04-01 51 days 2,109 sqft
2024-05-01 46 days 2,124 sqft
2024-06-01 50 days 2,100 sqft
Tyler's median listing age (time on market) for 2024-06-01 was 50 days. This is 14% longer than the same period one year ago.

Tyler's median square footage for active listings during the 2024-06-01 period was 2,100 sqft. One year prior, the average listing was 2,142 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).