Victoria FHA Loan Rates, Closing Costs & Stats

VICTORIA, 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.

Victoria's 62 lenders originated 247 FHA loans during 2022. The total origination value was $54,755,000, with an average FHA loan value of $221,680.

Victoria FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Victoria averaged 6.45% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Victoria's average FHA mortgage closing costs are $7,257.

The average rate for the prior week (2024-02-23) was 6.44% and one month ago for the week of 2024-01-26, the average rate was 6.34%.

The average rate one year ago was 6.16%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.3%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Wallick & Volk, Inc. 48 4.89% $8,846
UNITED WHOLESALE MORTGAGE, LLC 32 4.84% $7,503
QUICKEN LOANS, LLC 14 3.93% $9,487
WESTSTAR MORTGAGE CORPORATION 11 4.85% $10,542
CALIBER HOME LOANS, INC. 11 4.12% $9,610
AMCAP MORTGAGE, LTD. 10 5.26% $12,041
TEXAS DOW EMPLOYEES CREDIT UNION 5 4.90% $7,543
FREEDOM MORTGAGE CORPORATION 5 4.65% $9,139
Hometown Lenders, Inc. 5 6.60% $10,434
DRAPER AND KRAMER MORTGAGE CORP. 4 4.97% $13,631
Gateway First Bank 4 6.06% $5,849
NATIONS RELIABLE LENDING, LLC 4 5.88% $12,120
Prosperity Bank 4 5.50% $10,317
HOME POINT FINANCIAL CORPORATION 4 5.66% $11,362
LAKEVIEW LOAN SERVICING, LLC 3 3.96% $4,299
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 4.71% $12,296
PENNYMAC LOAN SERVICES, LLC 3 4.42% $4,233
UNION HOME MORTGAGE CORP. 3 4.71% $7,270
GUILD MORTGAGE COMPANY 2 6.13% $8,820
Mr. Cooper ( Nationstar Mortgage ) 2 4.31% $6,897
Trinity Oaks Mortgage, LLC 2 5.13% $10,432
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.50% $11,058
ACADEMY MORTGAGE CORPORATION 2 5.19% $8,222
VAN DYK MORTGAGE CORPORATION 2 6.13% $5,191
AMERICAN PACIFIC MORTGAGE CORPORATION 2 6.06% $10,102
Sunflower Bank 2 4.93% $9,552
MORTGAGE FINANCIAL SERVICES, LLC 1 6.75% $12,298
Neighborhood Loans, Inc. 1 6.88% $11,863
OCMBC, INC. 1 6.63% $11,446
OPEN MORTGAGE, LLC 1 4.25% $11,442
Paramount Residential Mortgage Group, Inc. 1 4.75% $15,745
PREMIA MORTGAGE, LLC 1 5.13% $5,708
Simmons Bank 1 5.13% $6,189
SUCCESS MORTGAGE PARTNERS, INC. 1 5.63% $16,539
THRIVE MORTGAGE, LLC 1 6.63% $14,560
TOWNE MORTGAGE COMPANY 1 4.75% $14,175
Mortgage Research Center, LLC 1 4.13% $5,035
AMERICAN FINANCING CORPORATION 1 4.38% $5,959
AMERISAVE MORTGAGE CORPORATION 1 3.50% $10,689
ASPIRE FINANCIAL, INC. 1 3.25% $10,311
BancorpSouth 1 3.50% $6,592
BAY EQUITY LLC 1 4.25% $12,888
CARDINAL FINANCIAL 1 5.00% $7,993
CHURCHILL MORTGAGE CORPORATION 1 3.63% $5,130
Colonial Savings, F.A. 1 5.38% $15,085
CROSSCOUNTRY MORTGAGE, LLC 1 5.69% $16,345
EUSTIS AND AMERICAN MORTGAGE COMPANY 1 5.25% $8,459
EVERETT FINANCIAL, INC. 1 5.88% $11,704
FINANCE OF AMERICA MORTGAGE LLC 1 5.13% $12,720
FIRST CONTINENTAL MORTGAGE, LTD. 1 5.38% $13,160
First Guaranty Mortgage Corporation 1 4.63% $7,116
First United Bank and Trust Company 1 3.88% $7,842
Flagstar Bank, FSB 1 5.61% $11,334
Goldwater Bank, N.A. 1 2.88% $4,673
GSF Mortgage Corporation 1 5.88% $8,488
GUARANTEED RATE, INC. 1 4.50% $7,709
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 7.25% $7,417
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.50% $10,509
KINECTA 1 4.75% $9,647
LIBERTY HOME MORTGAGE CORPORATION 1 4.25% $5,997
MICHIGAN MUTUAL, INC. 1 4.13% $9,684
MLD MORTGAGE INC. 1 3.25% $13,355

The top Victoria FHA lender as defined by loan originations is Wallick & Volk, Inc., with 48 FHA loans originated. Their average total fees are $8,846, which is $1,344 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Victoria FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($7,503), Wallick & Volk, Inc. ($8,846), QUICKEN LOANS, LLC ($9,487), CALIBER HOME LOANS, INC. ($9,610) and WESTSTAR MORTGAGE CORPORATION ($10,542).

The lowest rate Victoria FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (3.93%), CALIBER HOME LOANS, INC. (4.12%), UNITED WHOLESALE MORTGAGE, LLC (4.84%), WESTSTAR MORTGAGE CORPORATION (4.85%) and Wallick & Volk, Inc. (4.89%).

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
Victoria's median listing price for 2024-01-01 was $269,925, a difference of $4,700 (1.8%) versus the prior year and $-5,075 versus the prior month.

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

Victoria's average listing price for 2024-01-01 was $339,197, a difference of $-3,443 (-1.0%) versus the prior year and $-5,232 versus the prior month.

For the 2024-01-01 period, Victoria had 257 MLS listings, a difference of -8 listings (-3%) versus the prior month and 42 listings (20%) 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
Victoria's median listing age (time on market) for 2024-01-01 was 0 days.

Victoria's median square footage for active listings during the 2024-01-01 period was 1,889 sqft. One year prior, the average listing was 1,807 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).