Andrews FHA Loan Rates, Closing Costs & Stats

Andrews, 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.

    Andrews's 35 lenders originated 114 FHA loans during 2024. The total origination value was $31,520,000, with an average FHA loan value of $276,491.

    Andrews FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Andrews averaged 7.01% for the week of 2025-07-18, compared to the national average (all FHA variants) of 6.527% for the same period.

    Andrews's average FHA mortgage closing costs are $9,327.

    The average rate for the prior week (2025-07-11) was 6.71% and one month ago for the week of 2025-06-13, the average rate was 6.86%.

    The average rate one year ago was 7.13%.

    For refis of the same type during the week of 2025-07-18, the average rate was 6.33%.

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

    Andrews 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 Andrews level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    AMERICAN PORTFOLIO MORTGAGE CORPORATION 17 6.94% $11,020
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 15 7.05% $13,459
    INTERLINC MORTGAGE SERVICES, LLC 12 7.09% $10,058
    Waterstone Mortgage Corporation 8 6.77% $13,779
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.81% $14,300
    Nations Lending Corporation 6 6.81% $10,084
    QUICKEN LOANS, LLC 4 5.90% $10,554
    FREEDOM MORTGAGE CORPORATION 3 6.24% $12,719
    UNITED WHOLESALE MORTGAGE, LLC 3 5.89% $16,229
    MORTGAGE FINANCIAL SERVICES, LLC 3 6.50% $14,112
    AmeriHome Mortgage Company, LLC 2 6.38% $7,156
    NATIONS DIRECT MORTGAGE, LLC 2 7.19% $7,494
    PLANET HOME LENDING, LLC 2 6.44% $5,926
    CARDINAL FINANCIAL 1 7.88% $11,265
    HOMESIDE FINANCIAL, LLC 1 7.12% $10,588
    BETTER MORTGAGE CORPORATION 1 5.25% $14,466
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $10,417
    MID AMERICA MORTGAGE, INC. 1 7.63% $6,654
    First National Bank Texas 1 7.63% $16,196
    VILLAGE CAPITAL MORTGAGE 1 5.75% $9,596
    EVERETT FINANCIAL, INC. 1 7.38% $8,275
    NBKC BANK 1 6.99% $9,916
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $11,906
    CLM MORTGAGE, INC 1 7.63% $12,458
    Equity Prime Mortgage LLC 1 7.75% $7,708
    Prosperity Home Mortgage, LLC 1 7.38% $10,035
    DIRECTIONS EQUITY, LLC 1 7.00% $4,057
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.50% $22,096
    SFMC, LP 1 7.50% $12,029
    SOUTHWEST FUNDING, LP 1 7.25% $11,984
    T2 FINANCIAL LLC 1 7.13% $8,286
    THE MORTGAGE LINK, INC. 1 6.13% $19,971
    CMG MORTGAGE, INC. 1 7.38% $12,998
    Flanagan State Bank 1 6.50% $16,601
    Flagstar Bank, FSB 1 6.19% $10,426

    The top Andrews FHA lender as defined by loan originations is AMERICAN PORTFOLIO MORTGAGE CORPORATION, with 17 FHA loans originated. Their average total fees are $11,020, which is $2,440 lower than the next largest lender, HIGHLANDS RESIDENTIAL MORTGAGE, LTD..

    The lowest fee Andrews FHA lenders (with over 10 loans originated) are INTERLINC MORTGAGE SERVICES, LLC ($10,058), AMERICAN PORTFOLIO MORTGAGE CORPORATION ($11,020), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. ($13,459), .

    The lowest rate Andrews FHA lenders (with over 10 loans originated) are AMERICAN PORTFOLIO MORTGAGE CORPORATION (6.94%), HIGHLANDS RESIDENTIAL MORTGAGE, LTD. (7.05%), INTERLINC MORTGAGE SERVICES, LLC (7.09%), .

    Andrews FHA Loan Limits

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

    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).