Appleton FHA Loan Rates, Closing Costs & Stats

APPLETON, WI

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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.

    Appleton's 59 lenders originated 356 FHA loans during 2022. The total origination value was $74,460,000, with an average FHA loan value of $209,157.

    Appleton FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Appleton averaged 6.11% for the week of 2023-05-26, compared to the national average (all FHA variants) of 6.612% for the same period.

    Appleton's average FHA mortgage closing costs are $6,119.

    The average rate for the prior week (2023-05-19) was 5.79% and one month ago for the week of 2023-04-21, the average rate was 5.83%.

    The average rate one year ago was 4.55%.

    For refis of the same type during the week of 2023-05-26, the average rate was 4.74%.

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

    Appleton 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 Appleton level.

    Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    FINANCE OF AMERICA MORTGAGE LLC 36 5.03% $8,810
    QUICKEN LOANS, LLC 35 4.42% $8,813
    UNITED WHOLESALE MORTGAGE, LLC 21 5.41% $9,099
    FREEDOM MORTGAGE CORPORATION 19 5.22% $7,965
    CHERRY CREEK MORTGAGE, LLC 15 5.05% $3,195
    PRIMARY RESIDENTIAL MORTGAGE, INC. 13 5.73% $11,399
    Waterstone Mortgage Corporation 11 5.49% $9,635
    GSF Mortgage Corporation 11 5.16% $6,272
    LAKEVIEW LOAN SERVICING, LLC 10 3.96% $5,906
    PENNYMAC LOAN SERVICES, LLC 10 4.47% $9,944
    CROSSCOUNTRY MORTGAGE, LLC 10 5.32% $9,610
    INLANTA MORTGAGE, INC. 10 4.88% $7,275
    GUARANTEED RATE, INC. 10 5.31% $7,602
    Mr. Cooper ( Nationstar Mortgage ) 9 4.68% $12,455
    TOWNE MORTGAGE COMPANY 8 4.48% $9,192
    CORNERSTONE HOME LENDING, INC. 7 5.52% $8,930
    BROKER SOLUTIONS, INC. 6 5.35% $11,492
    Flagstar Bank, FSB 6 5.07% $5,930
    Wolfe Financial, Inc 6 4.69% $9,186
    ENVOY MORTGAGE, LTD 5 6.00% $8,170
    Paramount Residential Mortgage Group, Inc. 5 5.20% $10,476
    Plains Commerce Bank 5 4.85% $6,179
    AMERISAVE MORTGAGE CORPORATION 4 4.66% $9,709
    LOANDEPOT.COM, LLC 4 4.97% $7,995
    FIRST CENTENNIAL MORTGAGE CORPORATION 3 4.29% $5,533
    Ixonia Bank 3 6.17% $10,399
    CALIBER HOME LOANS, INC. 3 4.15% $5,074
    JPMorgan Chase Bank 3 4.41% $5,647
    CARDINAL FINANCIAL 2 4.88% $7,071
    Carrington Mortgage Services, LLC 2 4.63% $16,866
    Citizens Bank 2 4.19% $7,705
    Equity Prime Mortgage LLC 2 5.31% $9,533
    EVERETT FINANCIAL, INC. 2 4.31% $6,430
    First Guaranty Mortgage Corporation 2 3.75% $5,850
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 5.06% $11,343
    Loan Simple, Inc. 2 4.50% $4,971
    MLD MORTGAGE INC. 2 4.25% $6,931
    MUTUAL OF OMAHA MORTGAGE, INC. 2 4.75% $11,084
    Nations Lending Corporation 2 5.50% $10,601
    Prosperity Home Mortgage, LLC 2 4.38% $9,187
    The Federal Savings Bank 2 4.50% $10,946
    U.S. Bank 2 6.31% $9,756
    FAY SERVICING, LLC 1 4.88% $9,475
    PLANET HOME LENDING, LLC 1 2.75% $5,769
    PLAZA HOME MORTGAGE, INC. 1 5.63% $12,489
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.49% $10,779
    Willamette Valley Bank 1 4.25% $10,056
    CMG MORTGAGE, INC. 1 5.63% $5,810
    Servion, Inc. 1 6.25% $6,724
    Sierra Pacific Mortgage Company, Inc. 1 5.13% $7,171
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.00% $11,652
    Bank of England 1 4.88% $7,566
    AmeriHome Mortgage Company, LLC 1 4.99% $10,042
    BMO Harris Bank 1 4.63% $6,670
    Wyndham Capital Mortgage, Inc. 1 4.50% $7,370
    Barrington Bank & Trust Company, N.A. 1 5.75% $7,537
    Northpointe Bank 1 4.50% $10,080
    MICHIGAN MUTUAL, INC. 1 5.63% $8,650
    LIBERTY HOME MORTGAGE CORPORATION 1 6.13% $9,582

    The top Appleton FHA lender as defined by loan originations is FINANCE OF AMERICA MORTGAGE LLC, with 36 FHA loans originated. Their average total fees are $8,810, which is $3 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Appleton FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($3,195), LAKEVIEW LOAN SERVICING, LLC ($5,906), GSF Mortgage Corporation ($6,272), INLANTA MORTGAGE, INC. ($7,275) and GUARANTEED RATE, INC. ($7,602).

    The lowest rate Appleton FHA lenders (with over 10 loans originated) are LAKEVIEW LOAN SERVICING, LLC (3.96%), QUICKEN LOANS, LLC (4.42%), PENNYMAC LOAN SERVICES, LLC (4.47%), INLANTA MORTGAGE, INC. (4.88%) and FINANCE OF AMERICA MORTGAGE LLC (5.03%).

    Appleton FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Appleton (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 $209,675 (16.6%) $251,937 (14.6%) 0.78 631
    2018-02-01 $216,150 (16.9%) $258,727 (15.8%) 0.79 662
    2018-03-01 $229,900 (21.1%) $271,710 (19.6%) 0.81 678
    2018-04-01 $274,650 (39.8%) $325,957 (39.8%) 0.93 395
    2018-05-01 $279,900 (42.5%) $325,747 (38.3%) 0.93 416
    2018-06-01 $275,000 (40.2%) $320,504 (36.4%) 0.92 464
    2018-07-01 $266,650 (33.4%) $311,917 (32.4%) 0.89 471
    2018-08-01 $262,400 (31.3%) $305,336 (29.0%) 0.88 477
    2018-09-01 $259,900 (33.4%) $299,425 (26.0%) 0.87 500
    2018-10-01 $249,900 (33.4%) $291,542 (24.0%) 0.85 549
    2018-11-01 $259,900 (40.0%) $291,858 (23.7%) 0.88 546
    2018-12-01 $264,900 (35.9%) $294,200 (19.6%) 0.91 501
    2019-01-01 $274,950 (31.1%) $301,285 (19.6%) 0.95 436
    2019-02-01 $279,950 (29.5%) $309,563 (19.7%) 0.95 408
    2019-03-01 $271,250 (22.1%) $299,964 (10.4%) 0.90 407
    2019-04-01 $277,400 (1.3%) $309,075 (-5.2%) 0.88 416
    2019-05-01 $272,197 (-2.8%) $306,032 (-6.1%) 0.85 415
    2019-06-01 $259,900 (-5.5%) $297,582 (-7.2%) 0.81 429
    2019-07-01 $263,200 (-1.3%) $298,132 (-4.4%) 0.82 460
    2019-08-01 $284,900 (1.4%) $306,211 (0.3%) 0.89 449
    2019-09-01 $276,811 (2.1%) $304,594 (1.7%) 0.87 443
    2019-10-01 $262,450 (6.0%) $299,733 (2.8%) 0.85 511
    2019-11-01 $260,000 (0.0%) $300,938 (3.1%) 0.85 481
    2019-12-01 $259,900 (-1.9%) $303,452 (3.1%) 0.87 413
    2020-01-01 $262,700 (-4.5%) $307,440 (2.0%) 0.88 362
    2020-02-01 $284,900 (1.8%) $316,376 (2.2%) 0.93 341
    2020-03-01 $291,900 (4.0%) $323,973 (8.0%) 0.92 346
    2020-04-01 $299,675 (7.8%) $325,207 (5.2%) 0.94 346
    2020-05-01 $299,950 (10.2%) $332,407 (8.6%) 0.91 310
    2020-06-01 $299,900 (15.4%) $330,045 (10.9%) 0.88 274
    2020-07-01 $299,900 (13.9%) $323,326 (8.5%) 0.87 248
    2020-08-01 $295,000 (10.9%) $321,244 (4.9%) 0.85 259
    2020-09-01 $277,350 (4.5%) $310,796 (2.0%) 0.79 257
    2020-10-01 $279,950 (5.7%) $322,255 (7.5%) 0.80 267
    2020-11-01 $299,900 (15.4%) $329,032 (9.3%) 0.88 252
    2020-12-01 $292,675 (12.6%) $317,186 (4.5%) 0.87 242
    2021-01-01 $299,900 (14.2%) $336,272 (9.4%) 0.90 200
    2021-02-01 $304,900 (7.0%) $339,937 (7.5%) 0.89 181
    2021-03-01 $284,675 (-2.5%) $331,042 (2.2%) 0.81 177
    2021-04-01 $276,150 (-7.9%) $328,696 (1.1%) 0.75 172
    2021-05-01 $299,900 (0.0%) $336,886 (1.4%) 0.80 181
    2021-06-01 $299,450 (-0.2%) $344,083 (4.3%) 0.79 211
    2021-07-01 $289,900 (-3.3%) $335,769 (3.9%) 0.76 236
    2021-08-01 $289,475 (-1.9%) $335,469 (4.4%) 0.77 277
    2021-09-01 $289,900 (4.5%) $328,604 (5.7%) 0.77 273
    2021-10-01 $291,950 (4.3%) $335,406 (4.1%) 0.78 267
    2021-11-01 $305,900 (2.0%) $352,507 (7.1%) 0.82 274
    2021-12-01 $337,400 (15.3%) $370,948 (17.0%) 0.91 229
    2022-01-01 $364,900 (21.7%) $392,983 (16.9%) 0.99 183
    2022-02-01 $370,000 (21.4%) $399,879 (17.6%) 0.96 181
    2022-03-01 $367,450 (29.1%) $380,543 (15.0%) 0.92 194
    2022-04-01 $369,900 (34.0%) $389,876 (18.6%) 0.88 225
    2022-05-01 $354,425 (18.2%) $385,332 (14.4%) 0.81 235
    2022-06-01 $362,478 (21.1%) $381,556 (10.9%) 0.81 265
    2022-07-01 $365,000 (25.9%) $382,932 (14.1%) 0.82 247
    2022-08-01 $369,925 (27.8%) $398,013 (18.6%) 0.85 235
    2022-09-01 $373,950 (29.0%) $399,952 (21.7%) 0.87 236
    2022-10-01 $384,900 (31.8%) $418,356 (24.7%) 0.91 242
    2022-11-01 $399,000 (30.4%) $431,720 (22.5%) 0.96 223
    2022-12-01 $399,900 (18.5%) $447,176 (20.6%) 0.99 202
    2023-01-01 $403,675 (10.6%) $461,322 (17.4%) 1.00 174
    2023-02-01 $399,900 (8.1%) $457,842 (14.5%) 0.96 167
    2023-03-01 $399,900 (8.8%) $445,437 (17.1%) 0.94 167
    2023-04-01 $395,500 (0.0%) $448,054 (14.9%) 0.92 183
    Appleton's median listing price for 2023-04-01 was $395,500, a difference of $25,600 (0.0%) versus the prior year and $-4,400 versus the prior month.

    Appleton's median listing price comes in at 92% of the national average.

    Appleton's average listing price for 2023-04-01 was $448,054, a difference of $58,178 (14.9%) versus the prior year and $2,617 versus the prior month.

    For the 2023-04-01 period, Appleton had 183 MLS listings, a difference of 16 listings (10%) versus the prior month and -42 listings (-19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Appleton (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 75 days 1,894 sqft
    2018-02-01 66 days 1,899 sqft
    2018-03-01 52 days 1,957 sqft
    2018-04-01 45 days 2,092 sqft
    2018-05-01 45 days 2,161 sqft
    2018-06-01 44 days 2,172 sqft
    2018-07-01 50 days 2,102 sqft
    2018-08-01 51 days 2,104 sqft
    2018-09-01 46 days 2,073 sqft
    2018-10-01 48 days 1,923 sqft
    2018-11-01 56 days 1,931 sqft
    2018-12-01 75 days 1,961 sqft
    2019-01-01 87 days 1,969 sqft
    2019-02-01 94 days 1,998 sqft
    2019-03-01 66 days 1,940 sqft
    2019-04-01 57 days 2,012 sqft
    2019-05-01 50 days 1,991 sqft
    2019-06-01 52 days 1,916 sqft
    2019-07-01 52 days 1,925 sqft
    2019-08-01 58 days 2,028 sqft
    2019-09-01 64 days 2,057 sqft
    2019-10-01 58 days 2,043 sqft
    2019-11-01 65 days 2,037 sqft
    2019-12-01 73 days 2,011 sqft
    2020-01-01 78 days 2,049 sqft
    2020-02-01 64 days 2,091 sqft
    2020-03-01 52 days 2,093 sqft
    2020-04-01 49 days 2,114 sqft
    2020-05-01 64 days 2,080 sqft
    2020-06-01 66 days 2,065 sqft
    2020-07-01 66 days 2,016 sqft
    2020-08-01 51 days 2,025 sqft
    2020-09-01 47 days 1,984 sqft
    2020-10-01 47 days 1,992 sqft
    2020-11-01 53 days 1,917 sqft
    2020-12-01 61 days 1,864 sqft
    2021-01-01 67 days 1,864 sqft
    2021-02-01 68 days 1,833 sqft
    2021-03-01 40 days 1,808 sqft
    2021-04-01 35 days 1,800 sqft
    2021-05-01 42 days 1,906 sqft
    2021-06-01 31 days 1,988 sqft
    2021-07-01 32 days 1,980 sqft
    2021-08-01 32 days 1,903 sqft
    2021-09-01 40 days 1,913 sqft
    2021-10-01 47 days 1,850 sqft
    2021-11-01 42 days 1,655 sqft
    2021-12-01 52 days 1,630 sqft
    2022-01-01 43 days 1,609 sqft
    2022-02-01 37 days 1,607 sqft
    2022-03-01 48 days 1,652 sqft
    2022-04-01 44 days 1,658 sqft
    2022-05-01 44 days 1,737 sqft
    2022-06-01 39 days 1,794 sqft
    2022-07-01 38 days 1,924 sqft
    2022-08-01 46 days 1,927 sqft
    2022-09-01 45 days 1,927 sqft
    2022-10-01 43 days 1,944 sqft
    2022-11-01 45 days 1,908 sqft
    2022-12-01 59 days 1,920 sqft
    2023-01-01 70 days 1,859 sqft
    2023-02-01 61 days 1,918 sqft
    2023-03-01 50 days 1,869 sqft
    2023-04-01 37 days 1,960 sqft
    Appleton's median listing age (time on market) for 2023-04-01 was 37 days. This is -16% shorter than the same period one year ago.

    Appleton's median square footage for active listings during the 2023-04-01 period was 1,960 sqft. One year prior, the average listing was 1,658 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).