Weatherford FHA Loan Rates, Closing Costs & Stats

Weatherford, OK

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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.

    Weatherford's 29 lenders originated 64 FHA loans during 2023. The total origination value was $11,310,000, with an average FHA loan value of $176,719.

    Weatherford FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Weatherford averaged 6.9% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Weatherford's average FHA mortgage closing costs are $6,485.

    The average rate for the prior week (2024-04-12) was 6.69% and one month ago for the week of 2024-03-15, the average rate was 6.76%.

    The average rate one year ago was 6.59%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.96%.

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

    Weatherford 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 Weatherford level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 10 6.26% $11,742
    INTERLINC MORTGAGE SERVICES, LLC 9 7.15% $7,678
    BancFirst 6 7.10% $7,998
    SUN WEST MORTGAGE COMPANY, INC. 2 6.88% $7,149
    GUARANTEED RATE, INC. 2 5.75% $7,433
    UNITED WHOLESALE MORTGAGE, LLC 2 5.61% $8,096
    BROKER SOLUTIONS, INC. 2 7.00% $11,512
    FIRST AMERICAN MORTGAGE, INC. 2 6.88% $6,363
    GUILD MORTGAGE COMPANY 1 7.63% $2,605
    AMERICAN FINANCIAL NETWORK, INC. 1 7.25% $6,662
    MID AMERICA MORTGAGE, INC. 1 7.38% $4,424
    MLD MORTGAGE INC. 1 7.25% $8,368
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.00% $10,860
    Nations Lending Corporation 1 6.25% $14,840
    NEWREZ LLC 1 7.25% $10,062
    NFM, INC. 1 7.25% $8,781
    PENNYMAC LOAN SERVICES, LLC 1 6.75% $7,818
    SENTE MORTGAGE, INC. 1 6.99% $10,739
    Stride Bank 1 7.00% $5,222
    SUCCESS MORTGAGE PARTNERS, INC. 1 7.63% $11,077
    United Fidelity Funding Corp. 1 7.25% $14,435
    LOANDEPOT.COM, LLC 1 7.75% $6,238
    American Mortgage Bank, LLC 1 6.63% $5,886
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $16,302
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.63% $7,246
    ASSOCIATED MORTGAGE CORPORATION 1 6.75% $6,228
    CWM PARTNERS, L.P. 1 7.13% $8,484
    FINANCIAL CONCEPTS MORTGAGE, LLC 1 6.75% $7,829
    FLAT BRANCH MORTGAGE, INC. 1 6.38% $7,082

    The top Weatherford FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 10 FHA loans originated. Their average total fees are $11,742, which is $4,064 higher than the next largest lender, INTERLINC MORTGAGE SERVICES, LLC.

    The lowest fee Weatherford FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($11,742), .

    The lowest rate Weatherford FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.26%), .

    Weatherford FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Weatherford (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 $161,100 (-9.5%) $226,277 (-1.1%) 0.00 109
    2018-02-01 $160,650 (-8.7%) $221,498 (-3.3%) 0.00 103
    2018-03-01 $160,200 (-9.0%) $206,725 (-8.3%) 0.00 105
    2018-04-01 $165,950 (-5.7%) $225,528 (0.4%) 0.00 112
    2018-05-01 $164,500 (-6.0%) $224,183 (0.1%) 0.00 110
    2018-06-01 $162,000 (-9.3%) $199,364 (-18.9%) 0.00 109
    2018-07-01 $157,400 (-15.6%) $196,062 (-21.4%) 0.00 109
    2018-08-01 $155,675 (-20.0%) $192,928 (-24.0%) 0.00 105
    2018-09-01 $160,200 (-17.1%) $194,706 (-24.1%) 0.00 96
    2018-10-01 $160,125 (-16.4%) $203,022 (-20.6%) 0.00 93
    2018-11-01 $160,200 (-5.7%) $210,714 (-12.2%) 0.00 85
    2018-12-01 $161,100 (-0.3%) $212,641 (-6.6%) 0.00 81
    2019-01-01 $155,425 (-3.5%) $197,429 (-12.8%) 0.00 87
    2019-02-01 $142,450 (-11.3%) $185,184 (-16.4%) 0.00 84
    2019-03-01 $148,550 (-7.3%) $197,380 (-4.5%) 0.00 82
    2019-04-01 $148,100 (-10.8%) $204,350 (-9.4%) 0.00 88
    2019-05-01 $157,450 (-4.3%) $203,760 (-9.1%) 0.00 97
    2019-06-01 $174,500 (7.7%) $209,369 (5.0%) 0.00 102
    2019-07-01 $169,800 (7.9%) $206,376 (5.3%) 0.00 102
    2019-08-01 $166,700 (7.1%) $206,429 (7.0%) 0.00 108
    2019-09-01 $169,400 (5.7%) $209,253 (7.5%) 0.00 113
    2019-10-01 $173,000 (8.0%) $211,135 (4.0%) 0.00 115
    2019-11-01 $176,200 (10.0%) $211,281 (0.3%) 0.00 113
    2019-12-01 $177,000 (9.9%) $214,917 (1.1%) 0.00 108
    2020-01-01 $176,500 (13.6%) $210,650 (6.7%) 0.00 112
    2020-02-01 $174,500 (22.5%) $210,313 (13.6%) 0.00 105
    2020-03-01 $179,300 (20.7%) $215,140 (9.0%) 0.00 110
    2020-04-01 $183,250 (23.7%) $230,389 (12.7%) 0.00 121
    2020-05-01 $179,900 (14.3%) $227,249 (11.5%) 0.00 115
    2020-06-01 $188,400 (8.0%) $227,375 (8.6%) 0.00 114
    2020-07-01 $190,325 (12.1%) $222,711 (7.9%) 0.00 113
    2020-08-01 $199,900 (19.9%) $235,523 (14.1%) 0.00 111
    2020-09-01 $217,450 (28.4%) $236,763 (13.2%) 0.00 113
    2020-10-01 $199,450 (15.3%) $232,705 (10.2%) 0.00 116
    2020-11-01 $198,475 (12.6%) $232,167 (9.9%) 0.00 105
    2020-12-01 $198,825 (12.3%) $236,252 (9.9%) 0.00 97
    2021-01-01 $198,500 (12.5%) $230,515 (9.4%) 0.00 94
    2021-02-01 $187,850 (7.7%) $222,796 (5.9%) 0.00 84
    2021-03-01 $196,500 (9.6%) $235,699 (9.6%) 0.00 81
    2021-04-01 $182,000 (-0.7%) $207,162 (-10.1%) 0.00 83
    2021-05-01 $179,900 (0.0%) $200,770 (-11.7%) 0.00 79
    2021-06-01 $176,475 (-6.3%) $192,399 (-15.4%) 0.00 71
    2021-07-01 $175,000 (-8.1%) $187,763 (-15.7%) 0.00 80
    2021-08-01 $164,225 (-17.9%) $185,315 (-21.3%) 0.00 71
    2021-09-01 $159,900 (-26.5%) $184,966 (-21.9%) 0.00 70
    2021-10-01 $172,000 (-13.8%) $200,452 (-13.9%) 0.00 68
    2021-11-01 $173,725 (-12.5%) $235,502 (1.4%) 0.00 72
    2021-12-01 $167,375 (-15.8%) $224,252 (-5.1%) 0.00 60
    2022-01-01 $154,800 (-22.0%) $216,072 (-6.3%) 0.00 54
    2022-02-01 $159,700 (-15.0%) $211,053 (-5.3%) 0.00 55
    2022-03-01 $162,450 (-17.3%) $227,765 (-3.4%) 0.00 49
    2022-04-01 $148,000 (-18.7%) $208,964 (0.9%) 0.00 64
    2022-05-01 $159,250 (-11.5%) $224,741 (11.9%) 0.00 59
    2022-06-01 $175,750 (-0.4%) $239,044 (24.2%) 0.00 61
    2022-07-01 $185,000 (5.7%) $226,954 (20.9%) 0.00 62
    2022-08-01 $185,000 (12.7%) $232,833 (25.6%) 0.00 71
    2022-09-01 $192,500 (20.4%) $254,284 (37.5%) 0.00 68
    2022-10-01 $194,800 (13.3%) $287,590 (43.5%) 0.00 70
    2022-11-01 $165,750 (-4.6%) $266,121 (13.0%) 0.00 75
    2022-12-01 $199,000 (18.9%) $247,305 (10.3%) 0.00 72
    2023-01-01 $191,225 (23.5%) $242,000 (12.0%) 0.00 65
    2023-02-01 $157,500 (-1.4%) $233,295 (10.5%) 0.00 61
    2023-03-01 $164,950 (1.5%) $235,340 (3.3%) 0.00 57
    2023-04-01 $165,000 (11.5%) $248,106 (18.7%) 0.00 55
    2023-05-01 $168,750 (6.0%) $245,390 (9.2%) 0.00 64
    2023-06-01 $199,900 (13.7%) $255,453 (6.9%) 0.00 72
    2023-07-01 $188,500 (1.9%) $240,646 (6.0%) 0.00 77
    2023-08-01 $196,900 (6.4%) $249,985 (7.4%) 0.00 76
    2023-09-01 $198,000 (2.9%) $251,977 (-0.9%) 0.00 72
    2023-10-01 $198,250 (1.8%) $260,963 (-9.3%) 0.00 77
    2023-11-01 $202,176 (22.0%) $268,177 (0.8%) 0.00 71
    2023-12-01 $199,000 (0.0%) $255,786 (3.4%) 0.00 66
    2024-01-01 $196,700 (2.9%) $239,396 (-1.1%) 0.00 66
    2024-02-01 $193,320 (22.7%) $230,362 (-1.3%) 0.00 71
    2024-03-01 $194,400 (17.9%) $253,819 (7.9%) 0.00 70
    Weatherford's median listing price for 2024-03-01 was $194,400, a difference of $29,450 (17.9%) versus the prior year and $1,080 versus the prior month.

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

    Weatherford's average listing price for 2024-03-01 was $253,819, a difference of $18,479 (7.9%) versus the prior year and $23,457 versus the prior month.

    For the 2024-03-01 period, Weatherford had 70 MLS listings, a difference of -1 listings (-1%) versus the prior month and 13 listings (23%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Weatherford (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,799 sqft
    2018-02-01 0 days 1,773 sqft
    2018-03-01 0 days 1,758 sqft
    2018-04-01 0 days 1,794 sqft
    2018-05-01 0 days 1,786 sqft
    2018-06-01 0 days 1,780 sqft
    2018-07-01 0 days 1,781 sqft
    2018-08-01 0 days 1,781 sqft
    2018-09-01 0 days 1,800 sqft
    2018-10-01 0 days 1,831 sqft
    2018-11-01 0 days 1,809 sqft
    2018-12-01 0 days 1,805 sqft
    2019-01-01 0 days 1,789 sqft
    2019-02-01 0 days 1,724 sqft
    2019-03-01 0 days 1,764 sqft
    2019-04-01 0 days 1,794 sqft
    2019-05-01 0 days 1,787 sqft
    2019-06-01 0 days 1,826 sqft
    2019-07-01 0 days 1,858 sqft
    2019-08-01 0 days 1,856 sqft
    2019-09-01 0 days 1,843 sqft
    2019-10-01 0 days 1,850 sqft
    2019-11-01 0 days 1,865 sqft
    2019-12-01 0 days 1,806 sqft
    2020-01-01 0 days 1,806 sqft
    2020-02-01 0 days 1,869 sqft
    2020-03-01 0 days 1,946 sqft
    2020-04-01 0 days 1,952 sqft
    2020-05-01 0 days 1,917 sqft
    2020-06-01 0 days 1,992 sqft
    2020-07-01 0 days 1,993 sqft
    2020-08-01 0 days 2,078 sqft
    2020-09-01 0 days 2,045 sqft
    2020-10-01 0 days 2,026 sqft
    2020-11-01 0 days 2,066 sqft
    2020-12-01 0 days 2,096 sqft
    2021-01-01 0 days 2,096 sqft
    2021-02-01 0 days 2,008 sqft
    2021-03-01 0 days 2,099 sqft
    2021-04-01 0 days 1,984 sqft
    2021-05-01 0 days 1,903 sqft
    2021-06-01 0 days 1,776 sqft
    2021-07-01 0 days 1,730 sqft
    2021-08-01 0 days 1,741 sqft
    2021-09-01 0 days 1,677 sqft
    2021-10-01 0 days 1,716 sqft
    2021-11-01 0 days 1,774 sqft
    2021-12-01 0 days 1,733 sqft
    2022-01-01 0 days 1,781 sqft
    2022-02-01 0 days 1,729 sqft
    2022-03-01 0 days 1,773 sqft
    2022-04-01 0 days 1,662 sqft
    2022-05-01 0 days 1,701 sqft
    2022-06-01 0 days 1,668 sqft
    2022-07-01 0 days 1,717 sqft
    2022-08-01 0 days 1,720 sqft
    2022-09-01 0 days 1,701 sqft
    2022-10-01 0 days 1,720 sqft
    2022-11-01 0 days 1,643 sqft
    2022-12-01 0 days 1,727 sqft
    2023-01-01 0 days 1,737 sqft
    2023-02-01 0 days 1,692 sqft
    2023-03-01 0 days 1,613 sqft
    2023-04-01 0 days 1,652 sqft
    2023-05-01 0 days 1,738 sqft
    2023-06-01 0 days 1,776 sqft
    2023-07-01 0 days 1,772 sqft
    2023-08-01 0 days 1,776 sqft
    2023-09-01 0 days 1,744 sqft
    2023-10-01 0 days 1,733 sqft
    2023-11-01 0 days 1,780 sqft
    2023-12-01 0 days 1,668 sqft
    2024-01-01 0 days 1,672 sqft
    2024-02-01 0 days 1,633 sqft
    2024-03-01 0 days 1,653 sqft
    Weatherford's median listing age (time on market) for 2024-03-01 was 0 days.

    Weatherford's median square footage for active listings during the 2024-03-01 period was 1,653 sqft. One year prior, the average listing was 1,613 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).