Victoria FHA Loan Rates, Closing Costs & Stats

VICTORIA, 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.

    Victoria's 45 lenders originated 198 FHA loans during 2023. The total origination value was $46,480,000, with an average FHA loan value of $234,747.

    Victoria FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Victoria averaged 0.25% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Victoria's average FHA mortgage closing costs are $7,630.

    The average rate for the prior week (2024-11-08) was 6.56% and one month ago for the week of 2024-10-11, the average rate was 5.97%.

    The average rate one year ago was 7.21%.

    For refis of the same type during the week of 2024-11-15, the average rate was -0.1%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Victoria 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 Victoria level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    Wallick & Volk, Inc. 68 6.53% $9,588
    UNITED WHOLESALE MORTGAGE, LLC 26 6.51% $11,143
    Prosperity Bank 15 5.93% $7,836
    QUICKEN LOANS, LLC 12 6.34% $8,733
    TEXAS DOW EMPLOYEES CREDIT UNION 8 6.64% $10,427
    WESTSTAR MORTGAGE CORPORATION 7 6.14% $12,477
    AMCAP MORTGAGE, LTD. 4 6.59% $12,027
    Plains Commerce Bank 4 7.22% $10,527
    PRIMELENDING, A PLAINSCAPITAL COMPANY 3 7.00% $13,266
    CROSSCOUNTRY MORTGAGE, LLC 2 7.13% $14,678
    CMG MORTGAGE, INC. 2 7.69% $16,796
    CARDINAL FINANCIAL 2 6.75% $15,832
    NEWREZ LLC 2 7.00% $9,334
    INTERLINC MORTGAGE SERVICES, LLC 2 7.06% $8,242
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $11,637
    HOMETRUST MORTGAGE COMPANY 1 7.38% $10,720
    Loan Simple, Inc. 1 7.25% $15,999
    MANN FINANCIAL INC. 1 8.00% $11,997
    MORTGAGE FINANCIAL SERVICES, LLC 1 5.88% $9,266
    Mortgage Research Center, LLC 1 6.25% $5,076
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $13,051
    NATIONS RELIABLE LENDING, LLC 1 7.13% $6,498
    ACADEMY MORTGAGE CORPORATION 1 6.88% $6,944
    NFM, INC. 1 7.75% $11,238
    PINNACLE LENDING GROUP, INC. 1 7.13% $6,743
    RESIDENTIAL BANCORP 1 6.75% $20,263
    Simmons Bank 1 6.25% $8,346
    Stride Bank 1 6.63% $8,967
    THRIVE MORTGAGE, LLC 1 6.63% $13,286
    VAN DYK MORTGAGE CORPORATION 1 6.25% $3,863
    V.I.P. MORTGAGE, INC. 1 7.00% $7,539
    Network Funding, L.P. 1 5.75% $14,114
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $13,694
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.50% $12,537
    BROKER SOLUTIONS, INC. 1 7.13% $6,895
    CALIBER HOME LOANS, INC. 1 6.25% $6,523
    CORNERSTONE HOME LENDING, INC. 1 6.50% $4,126
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.75% $9,120
    First National Bank Texas 1 7.50% $7,740
    First United Bank and Trust Company 1 5.88% $14,364
    Flagstar Bank, FSB 1 6.13% $7,042
    GARDNER FINANCIAL SERVICES, LTD. 1 7.63% $12,111
    Gateway First Bank 1 6.25% $9,681
    GUILD MORTGAGE COMPANY 1 7.38% $11,003
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.75% $14,369

    The top Victoria FHA lender as defined by loan originations is Wallick & Volk, Inc., with 68 FHA loans originated. Their average total fees are $9,588, which is $1,554 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Victoria FHA lenders (with over 10 loans originated) are Prosperity Bank ($7,836), QUICKEN LOANS, LLC ($8,733), Wallick & Volk, Inc. ($9,588), UNITED WHOLESALE MORTGAGE, LLC ($11,143) and .

    The lowest rate Victoria FHA lenders (with over 10 loans originated) are Prosperity Bank (5.93%), QUICKEN LOANS, LLC (6.34%), UNITED WHOLESALE MORTGAGE, LLC (6.51%), Wallick & Volk, Inc. (6.53%) and .

    Victoria FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    VICTORIA, TX GOLIAD 2022 $420,680 $538,650 $651,050 $809,150
    VICTORIA, TX VICTORIA 2022 $420,680 $538,650 $651,050 $809,150
    VICTORIA, TX GOLIAD 2023 $472,030 $604,400 $730,525 $907,900
    VICTORIA, TX VICTORIA 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Victoria (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 $229,938 (15.4%) $278,157 (22.4%) 0.00 266
    2018-02-01 $222,225 (12.6%) $269,591 (18.2%) 0.00 256
    2018-03-01 $223,750 (12.3%) $269,170 (15.4%) 0.00 256
    2018-04-01 $232,400 (11.6%) $264,464 (10.4%) 0.00 263
    2018-05-01 $224,450 (4.4%) $261,413 (4.2%) 0.00 273
    2018-06-01 $219,893 (0.7%) $257,376 (2.1%) 0.00 274
    2018-07-01 $228,225 (6.5%) $249,303 (-0.3%) 0.00 276
    2018-08-01 $221,600 (4.6%) $245,236 (-1.9%) 0.00 291
    2018-09-01 $221,886 (4.6%) $250,566 (-0.3%) 0.00 283
    2018-10-01 $229,950 (7.7%) $254,382 (-0.7%) 0.00 266
    2018-11-01 $234,900 (2.2%) $255,857 (-8.6%) 0.00 273
    2018-12-01 $239,400 (4.1%) $269,609 (-4.4%) 0.00 255
    2019-01-01 $237,450 (3.3%) $267,231 (-3.9%) 0.00 241
    2019-02-01 $232,175 (4.5%) $267,568 (-0.8%) 0.00 234
    2019-03-01 $240,421 (7.5%) $299,211 (11.2%) 0.00 232
    2019-04-01 $245,024 (5.4%) $304,800 (15.3%) 0.00 232
    2019-05-01 $242,450 (8.0%) $279,800 (7.0%) 0.00 251
    2019-06-01 $244,999 (11.4%) $288,229 (12.0%) 0.00 280
    2019-07-01 $248,686 (9.0%) $291,441 (16.9%) 0.00 284
    2019-08-01 $243,791 (10.0%) $291,343 (18.8%) 0.00 298
    2019-09-01 $234,627 (5.7%) $288,340 (15.1%) 0.00 314
    2019-10-01 $226,844 (-1.4%) $285,186 (12.1%) 0.00 324
    2019-11-01 $225,000 (-4.2%) $291,886 (14.1%) 0.00 302
    2019-12-01 $221,500 (-7.5%) $288,019 (6.8%) 0.00 294
    2020-01-01 $220,450 (-7.2%) $275,551 (3.1%) 0.00 286
    2020-02-01 $224,900 (-3.1%) $286,072 (6.9%) 0.00 278
    2020-03-01 $227,450 (-5.4%) $294,703 (-1.5%) 0.00 262
    2020-04-01 $229,900 (-6.2%) $294,717 (-3.3%) 0.00 258
    2020-05-01 $240,950 (-0.6%) $309,360 (10.6%) 0.00 235
    2020-06-01 $252,475 (3.1%) $320,715 (11.3%) 0.00 231
    2020-07-01 $265,350 (6.7%) $327,423 (12.4%) 0.00 239
    2020-08-01 $271,400 (11.3%) $342,853 (17.7%) 0.00 226
    2020-09-01 $274,550 (17.0%) $351,239 (21.8%) 0.00 219
    2020-10-01 $265,700 (17.1%) $338,371 (18.7%) 0.00 229
    2020-11-01 $268,921 (19.5%) $333,205 (14.2%) 0.00 231
    2020-12-01 $261,200 (17.9%) $330,615 (14.8%) 0.00 225
    2021-01-01 $271,150 (23.0%) $333,358 (21.0%) 0.00 197
    2021-02-01 $271,425 (20.7%) $338,952 (18.5%) 0.00 159
    2021-03-01 $277,400 (22.0%) $342,735 (16.3%) 0.00 142
    2021-04-01 $277,446 (20.7%) $348,413 (18.2%) 0.00 130
    2021-05-01 $284,900 (18.2%) $369,998 (19.6%) 0.00 123
    2021-06-01 $285,000 (12.9%) $343,983 (7.3%) 0.00 131
    2021-07-01 $256,900 (-3.2%) $336,637 (2.8%) 0.00 140
    2021-08-01 $271,675 (0.1%) $329,165 (-4.0%) 0.00 168
    2021-09-01 $269,750 (-1.8%) $338,106 (-3.7%) 0.00 176
    2021-10-01 $279,700 (5.3%) $347,726 (2.8%) 0.00 188
    2021-11-01 $284,575 (5.8%) $345,054 (3.6%) 0.00 186
    2021-12-01 $278,125 (6.5%) $337,505 (2.1%) 0.00 167
    2022-01-01 $269,900 (-0.5%) $334,819 (0.4%) 0.00 160
    2022-02-01 $284,500 (4.8%) $354,022 (4.5%) 0.00 156
    2022-03-01 $302,400 (9.0%) $360,711 (5.3%) 0.00 151
    2022-04-01 $299,900 (8.1%) $370,652 (6.4%) 0.00 130
    2022-05-01 $294,900 (3.5%) $393,407 (6.3%) 0.00 141
    2022-06-01 $299,600 (5.1%) $380,006 (10.5%) 0.00 149
    2022-07-01 $294,750 (14.7%) $376,197 (11.8%) 0.00 184
    2022-08-01 $286,125 (5.3%) $371,350 (12.8%) 0.00 202
    2022-09-01 $276,125 (2.4%) $367,038 (8.6%) 0.00 211
    2022-10-01 $250,000 (-10.6%) $358,241 (3.0%) 0.00 212
    2022-11-01 $249,675 (-12.3%) $345,156 (0.0%) 0.00 210
    2022-12-01 $262,200 (-5.7%) $346,900 (2.8%) 0.00 219
    2023-01-01 $265,225 (-1.7%) $342,640 (2.3%) 0.00 215
    2023-02-01 $278,425 (-2.1%) $348,206 (-1.6%) 0.00 203
    2023-03-01 $284,975 (-5.8%) $359,103 (-0.5%) 0.00 191
    2023-04-01 $329,900 (10.0%) $369,815 (-0.2%) 0.00 165
    2023-05-01 $328,650 (11.4%) $384,785 (-2.2%) 0.00 184
    2023-06-01 $328,325 (9.6%) $379,315 (-0.2%) 0.00 186
    2023-07-01 $319,950 (8.6%) $368,757 (-2.0%) 0.00 199
    2023-08-01 $300,000 (4.9%) $359,807 (-3.1%) 0.00 225
    2023-09-01 $288,900 (4.6%) $348,096 (-5.2%) 0.00 246
    2023-10-01 $276,475 (10.6%) $344,608 (-3.8%) 0.00 271
    2023-11-01 $286,675 (14.8%) $348,855 (1.1%) 0.00 285
    2023-12-01 $275,000 (4.9%) $344,429 (-0.7%) 0.00 265
    2024-01-01 $269,925 (1.8%) $339,197 (-1.0%) 0.00 257
    2024-02-01 $274,949 (-1.3%) $343,894 (-1.2%) 0.00 259
    2024-03-01 $279,400 (-2.0%) $348,518 (-3.0%) 0.00 253
    2024-04-01 $299,000 (-9.4%) $354,666 (-4.1%) 0.00 260
    2024-05-01 $304,950 (-7.2%) $365,113 (-5.1%) 0.00 239
    2024-06-01 $299,785 (-8.7%) $349,739 (-7.8%) 0.00 252
    2024-07-01 $286,225 (-10.5%) $349,141 (-5.3%) 0.00 264
    2024-08-01 $295,000 (-1.7%) $347,149 (-3.5%) 0.00 255
    2024-09-01 $292,400 (1.2%) $347,736 (-0.1%) 0.00 255
    2024-10-01 $289,900 (4.9%) $345,250 (0.2%) 0.00 282
    Victoria's median listing price for 2024-10-01 was $289,900, a difference of $13,425 (4.9%) versus the prior year and $-2,500 versus the prior month.

    Victoria's median listing price comes in at 0% of the national average.

    Victoria's average listing price for 2024-10-01 was $345,250, a difference of $642 (0.2%) versus the prior year and $-2,486 versus the prior month.

    For the 2024-10-01 period, Victoria had 282 MLS listings, a difference of 27 listings (11%) versus the prior month and 11 listings (4%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Victoria (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,085 sqft
    2018-02-01 0 days 2,031 sqft
    2018-03-01 0 days 2,069 sqft
    2018-04-01 0 days 2,087 sqft
    2018-05-01 0 days 2,025 sqft
    2018-06-01 0 days 2,037 sqft
    2018-07-01 0 days 2,043 sqft
    2018-08-01 0 days 2,030 sqft
    2018-09-01 0 days 2,011 sqft
    2018-10-01 0 days 2,044 sqft
    2018-11-01 0 days 2,034 sqft
    2018-12-01 0 days 2,049 sqft
    2019-01-01 0 days 2,014 sqft
    2019-02-01 0 days 2,020 sqft
    2019-03-01 0 days 2,055 sqft
    2019-04-01 0 days 2,066 sqft
    2019-05-01 0 days 2,093 sqft
    2019-06-01 0 days 2,088 sqft
    2019-07-01 0 days 2,076 sqft
    2019-08-01 0 days 2,037 sqft
    2019-09-01 0 days 1,981 sqft
    2019-10-01 0 days 1,944 sqft
    2019-11-01 0 days 1,946 sqft
    2019-12-01 0 days 1,931 sqft
    2020-01-01 0 days 1,903 sqft
    2020-02-01 0 days 1,906 sqft
    2020-03-01 0 days 1,868 sqft
    2020-04-01 0 days 1,900 sqft
    2020-05-01 0 days 2,007 sqft
    2020-06-01 0 days 2,023 sqft
    2020-07-01 0 days 2,067 sqft
    2020-08-01 0 days 2,102 sqft
    2020-09-01 0 days 2,137 sqft
    2020-10-01 0 days 2,131 sqft
    2020-11-01 0 days 2,057 sqft
    2020-12-01 0 days 2,036 sqft
    2021-01-01 0 days 2,042 sqft
    2021-02-01 0 days 2,031 sqft
    2021-03-01 0 days 2,041 sqft
    2021-04-01 0 days 2,021 sqft
    2021-05-01 0 days 2,020 sqft
    2021-06-01 0 days 2,004 sqft
    2021-07-01 0 days 1,916 sqft
    2021-08-01 0 days 1,924 sqft
    2021-09-01 0 days 1,881 sqft
    2021-10-01 0 days 1,882 sqft
    2021-11-01 0 days 1,871 sqft
    2021-12-01 0 days 1,842 sqft
    2022-01-01 0 days 1,874 sqft
    2022-02-01 0 days 1,899 sqft
    2022-03-01 0 days 1,894 sqft
    2022-04-01 0 days 1,972 sqft
    2022-05-01 0 days 1,960 sqft
    2022-06-01 0 days 1,911 sqft
    2022-07-01 0 days 1,894 sqft
    2022-08-01 0 days 1,871 sqft
    2022-09-01 0 days 1,818 sqft
    2022-10-01 0 days 1,814 sqft
    2022-11-01 0 days 1,792 sqft
    2022-12-01 0 days 1,808 sqft
    2023-01-01 0 days 1,807 sqft
    2023-02-01 0 days 1,816 sqft
    2023-03-01 0 days 1,899 sqft
    2023-04-01 0 days 1,938 sqft
    2023-05-01 0 days 1,997 sqft
    2023-06-01 0 days 1,943 sqft
    2023-07-01 0 days 1,910 sqft
    2023-08-01 0 days 1,915 sqft
    2023-09-01 0 days 1,865 sqft
    2023-10-01 0 days 1,820 sqft
    2023-11-01 0 days 1,884 sqft
    2023-12-01 0 days 1,888 sqft
    2024-01-01 0 days 1,889 sqft
    2024-02-01 0 days 1,899 sqft
    2024-03-01 0 days 1,921 sqft
    2024-04-01 0 days 1,930 sqft
    2024-05-01 0 days 1,938 sqft
    2024-06-01 0 days 1,960 sqft
    2024-07-01 0 days 1,921 sqft
    2024-08-01 0 days 1,893 sqft
    2024-09-01 0 days 1,879 sqft
    2024-10-01 0 days 1,858 sqft
    Victoria's median listing age (time on market) for 2024-10-01 was 0 days.

    Victoria's median square footage for active listings during the 2024-10-01 period was 1,858 sqft. One year prior, the average listing was 1,820 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).