Baraboo FHA Loan Rates, Closing Costs & Stats

Baraboo, 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.

    Baraboo's 31 lenders originated 77 FHA loans during 2023. The total origination value was $17,555,000, with an average FHA loan value of $227,987.

    Baraboo FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Baraboo averaged 6.71% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Baraboo's average FHA mortgage closing costs are $6,963.

    The average rate for the prior week (2024-04-12) was 6.9% and one month ago for the week of 2024-03-15, the average rate was 6.67%.

    The average rate one year ago was 6.4%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Baraboo 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 Baraboo level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 14 6.96% $7,860
    QUICKEN LOANS, LLC 8 6.25% $10,203
    GUILD MORTGAGE COMPANY 7 7.09% $11,015
    CARDINAL FINANCIAL 4 7.03% $15,887
    Paramount Residential Mortgage Group, Inc. 3 6.54% $8,324
    Barrington Bank & Trust Company, N.A. 3 6.42% $10,059
    Bell Bank 3 6.38% $10,930
    ENVOY MORTGAGE, LTD 2 7.19% $8,205
    PENNYMAC LOAN SERVICES, LLC 2 6.00% $18,783
    BROKER SOLUTIONS, INC. 2 5.75% $9,215
    Prosperity Home Mortgage, LLC 2 6.44% $8,191
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $9,203
    UNITED WHOLESALE MORTGAGE, LLC 2 6.44% $8,763
    CORNERSTONE HOME LENDING, INC. 2 7.06% $9,233
    AMERISAVE MORTGAGE CORPORATION 2 6.69% $12,853
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.25% $10,636
    V.I.P. MORTGAGE, INC. 1 5.99% $9,092
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 5.75% $7,127
    Carrington Mortgage Services, LLC 1 6.63% $18,238
    COMPASS MORTGAGE, INC. 1 5.75% $12,659
    CROSSCOUNTRY MORTGAGE, LLC 1 5.25% $17,493
    DRAPER AND KRAMER MORTGAGE CORP. 1 6.63% $9,830
    Equity Prime Mortgage LLC 1 6.38% $13,481
    FREEDOM MORTGAGE CORPORATION 1 6.75% $13,500
    LOANDEPOT.COM, LLC 1 5.99% $9,163
    Mortgage Research Center, LLC 1 6.75% $6,206
    NATIONS RELIABLE LENDING, LLC 1 7.75% $7,917
    NBKC BANK 1 6.63% $7,129
    NEWREZ LLC 1 6.75% $9,067
    PLAZA HOME MORTGAGE, INC. 1 6.75% $10,001
    VILLAGE CAPITAL MORTGAGE 1 4.75% $11,256

    The top Baraboo FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 14 FHA loans originated. Their average total fees are $7,860, which is $2,343 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Baraboo FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,860), .

    The lowest rate Baraboo FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.96%), .

    Baraboo FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Baraboo (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 $227,975 (14.7%) $264,699 (3.3%) 0.00 288
    2018-02-01 $244,975 (22.6%) $276,284 (5.4%) 0.00 260
    2018-03-01 $249,900 (13.6%) $278,239 (4.2%) 0.00 285
    2018-04-01 $249,675 (13.5%) $282,934 (6.0%) 0.00 302
    2018-05-01 $249,225 (15.4%) $284,928 (3.4%) 0.00 329
    2018-06-01 $249,000 (12.0%) $284,452 (0.8%) 0.00 348
    2018-07-01 $253,175 (15.1%) $291,188 (3.3%) 0.00 353
    2018-08-01 $249,450 (13.4%) $294,168 (4.5%) 0.00 355
    2018-09-01 $249,900 (11.4%) $296,095 (9.5%) 0.00 347
    2018-10-01 $239,450 (5.4%) $281,639 (3.6%) 0.00 347
    2018-11-01 $231,450 (2.7%) $270,340 (1.5%) 0.00 331
    2018-12-01 $229,900 (4.6%) $265,516 (0.7%) 0.00 292
    2019-01-01 $229,925 (0.9%) $273,339 (3.3%) 0.00 273
    2019-02-01 $237,000 (-3.3%) $275,989 (-0.1%) 0.00 244
    2019-03-01 $234,493 (-6.2%) $278,326 (0.0%) 0.00 264
    2019-04-01 $236,993 (-5.1%) $286,450 (1.2%) 0.00 286
    2019-05-01 $252,950 (1.5%) $301,782 (5.9%) 0.00 307
    2019-06-01 $255,950 (2.8%) $303,603 (6.7%) 0.00 322
    2019-07-01 $259,450 (2.5%) $305,472 (4.9%) 0.00 324
    2019-08-01 $258,536 (3.6%) $305,487 (3.9%) 0.00 320
    2019-09-01 $256,491 (2.6%) $306,070 (3.4%) 0.00 316
    2019-10-01 $255,127 (6.6%) $305,067 (8.3%) 0.00 308
    2019-11-01 $254,900 (10.1%) $312,610 (15.6%) 0.00 265
    2019-12-01 $251,150 (9.2%) $304,905 (14.8%) 0.00 255
    2020-01-01 $252,400 (9.8%) $310,360 (13.5%) 0.00 225
    2020-02-01 $254,900 (7.6%) $311,415 (12.8%) 0.00 225
    2020-03-01 $267,400 (14.0%) $323,138 (16.1%) 0.00 222
    2020-04-01 $267,400 (12.8%) $324,110 (13.2%) 0.00 230
    2020-05-01 $257,400 (1.8%) $307,687 (2.0%) 0.00 226
    2020-06-01 $256,150 (0.1%) $323,975 (6.7%) 0.00 194
    2020-07-01 $254,900 (-1.8%) $329,456 (7.9%) 0.00 181
    2020-08-01 $249,900 (-3.3%) $326,796 (7.0%) 0.00 158
    2020-09-01 $248,950 (-2.9%) $319,346 (4.3%) 0.00 169
    2020-10-01 $245,450 (-3.8%) $296,144 (-2.9%) 0.00 135
    2020-11-01 $239,450 (-6.1%) $294,653 (-5.7%) 0.00 128
    2020-12-01 $226,950 (-9.6%) $274,462 (-10.0%) 0.00 113
    2021-01-01 $226,950 (-10.1%) $271,348 (-12.6%) 0.00 102
    2021-02-01 $227,400 (-10.8%) $288,977 (-7.2%) 0.00 96
    2021-03-01 $229,450 (-14.2%) $313,587 (-3.0%) 0.00 97
    2021-04-01 $226,950 (-15.1%) $322,883 (-0.4%) 0.00 102
    2021-05-01 $229,450 (-10.9%) $317,768 (3.3%) 0.00 99
    2021-06-01 $243,425 (-5.0%) $344,835 (6.4%) 0.00 111
    2021-07-01 $270,000 (5.9%) $376,331 (14.2%) 0.00 110
    2021-08-01 $278,650 (11.5%) $374,446 (14.6%) 0.00 109
    2021-09-01 $276,950 (11.3%) $380,388 (19.1%) 0.00 107
    2021-10-01 $269,900 (10.0%) $362,199 (22.3%) 0.00 103
    2021-11-01 $244,900 (2.3%) $345,297 (17.2%) 0.00 87
    2021-12-01 $246,150 (8.5%) $362,629 (32.1%) 0.00 80
    2022-01-01 $265,000 (16.8%) $375,970 (38.6%) 0.00 61
    2022-02-01 $259,950 (14.3%) $378,448 (31.0%) 0.00 56
    2022-03-01 $282,475 (23.1%) $359,174 (14.5%) 0.00 68
    2022-04-01 $307,450 (35.5%) $406,082 (25.8%) 0.00 66
    2022-05-01 $341,175 (48.7%) $416,830 (31.2%) 0.00 84
    2022-06-01 $351,950 (44.6%) $433,231 (25.6%) 0.00 98
    2022-07-01 $311,400 (15.3%) $391,247 (4.0%) 0.00 126
    2022-08-01 $334,950 (20.2%) $406,005 (8.4%) 0.00 121
    2022-09-01 $347,400 (25.4%) $406,351 (6.8%) 0.00 119
    2022-10-01 $319,900 (18.5%) $384,192 (6.1%) 0.00 128
    2022-11-01 $315,750 (28.9%) $368,254 (6.7%) 0.00 132
    2022-12-01 $299,900 (21.8%) $359,657 (-0.8%) 0.00 122
    2023-01-01 $286,675 (8.2%) $357,792 (-4.8%) 0.00 101
    2023-02-01 $293,225 (12.8%) $361,103 (-4.6%) 0.00 90
    2023-03-01 $324,225 (14.8%) $367,528 (2.3%) 0.00 85
    2023-04-01 $291,000 (-5.4%) $425,961 (4.9%) 0.00 86
    2023-05-01 $304,950 (-10.6%) $462,800 (11.0%) 0.00 86
    2023-06-01 $338,504 (-3.8%) $482,811 (11.4%) 0.00 99
    2023-07-01 $299,900 (-3.7%) $445,683 (13.9%) 0.00 121
    2023-08-01 $319,900 (-4.5%) $445,171 (9.7%) 0.00 126
    2023-09-01 $350,000 (0.8%) $473,779 (16.6%) 0.00 144
    2023-10-01 $357,500 (11.8%) $497,867 (29.6%) 0.00 143
    2023-11-01 $369,725 (17.1%) $495,495 (34.6%) 0.00 146
    2023-12-01 $354,500 (18.2%) $488,501 (35.8%) 0.00 142
    2024-01-01 $348,200 (21.5%) $483,043 (35.0%) 0.00 138
    2024-02-01 $332,225 (13.3%) $486,272 (34.7%) 0.00 130
    2024-03-01 $344,900 (6.4%) $487,200 (32.6%) 0.00 130
    Baraboo's median listing price for 2024-03-01 was $344,900, a difference of $20,675 (6.4%) versus the prior year and $12,675 versus the prior month.

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

    Baraboo's average listing price for 2024-03-01 was $487,200, a difference of $119,672 (32.6%) versus the prior year and $928 versus the prior month.

    For the 2024-03-01 period, Baraboo had 130 MLS listings, a difference of 0 listings (0%) versus the prior month and 45 listings (53%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Baraboo (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,789 sqft
    2018-02-01 0 days 1,803 sqft
    2018-03-01 0 days 1,800 sqft
    2018-04-01 0 days 1,899 sqft
    2018-05-01 0 days 1,878 sqft
    2018-06-01 0 days 1,874 sqft
    2018-07-01 0 days 1,854 sqft
    2018-08-01 0 days 1,867 sqft
    2018-09-01 0 days 1,900 sqft
    2018-10-01 0 days 1,800 sqft
    2018-11-01 0 days 1,776 sqft
    2018-12-01 0 days 1,778 sqft
    2019-01-01 0 days 1,783 sqft
    2019-02-01 0 days 1,770 sqft
    2019-03-01 0 days 1,705 sqft
    2019-04-01 0 days 1,742 sqft
    2019-05-01 0 days 1,784 sqft
    2019-06-01 0 days 1,784 sqft
    2019-07-01 0 days 1,812 sqft
    2019-08-01 0 days 1,788 sqft
    2019-09-01 0 days 1,795 sqft
    2019-10-01 0 days 1,799 sqft
    2019-11-01 0 days 1,722 sqft
    2019-12-01 0 days 1,720 sqft
    2020-01-01 0 days 1,784 sqft
    2020-02-01 0 days 1,724 sqft
    2020-03-01 0 days 1,803 sqft
    2020-04-01 0 days 1,829 sqft
    2020-05-01 0 days 1,800 sqft
    2020-06-01 0 days 1,752 sqft
    2020-07-01 0 days 1,730 sqft
    2020-08-01 0 days 1,744 sqft
    2020-09-01 0 days 1,724 sqft
    2020-10-01 0 days 1,732 sqft
    2020-11-01 0 days 1,678 sqft
    2020-12-01 0 days 1,600 sqft
    2021-01-01 0 days 1,591 sqft
    2021-02-01 0 days 1,580 sqft
    2021-03-01 0 days 1,674 sqft
    2021-04-01 0 days 1,637 sqft
    2021-05-01 0 days 1,581 sqft
    2021-06-01 0 days 1,708 sqft
    2021-07-01 0 days 1,750 sqft
    2021-08-01 0 days 1,836 sqft
    2021-09-01 0 days 1,885 sqft
    2021-10-01 0 days 1,790 sqft
    2021-11-01 0 days 1,657 sqft
    2021-12-01 0 days 1,735 sqft
    2022-01-01 0 days 1,744 sqft
    2022-02-01 0 days 1,632 sqft
    2022-03-01 0 days 1,590 sqft
    2022-04-01 0 days 1,586 sqft
    2022-05-01 0 days 1,751 sqft
    2022-06-01 0 days 1,800 sqft
    2022-07-01 0 days 1,703 sqft
    2022-08-01 0 days 1,771 sqft
    2022-09-01 0 days 1,785 sqft
    2022-10-01 0 days 1,718 sqft
    2022-11-01 0 days 1,684 sqft
    2022-12-01 0 days 1,653 sqft
    2023-01-01 0 days 1,587 sqft
    2023-02-01 0 days 1,604 sqft
    2023-03-01 0 days 1,616 sqft
    2023-04-01 0 days 1,635 sqft
    2023-05-01 0 days 1,784 sqft
    2023-06-01 0 days 1,829 sqft
    2023-07-01 0 days 1,770 sqft
    2023-08-01 0 days 1,809 sqft
    2023-09-01 0 days 1,869 sqft
    2023-10-01 0 days 1,877 sqft
    2023-11-01 0 days 1,869 sqft
    2023-12-01 0 days 1,803 sqft
    2024-01-01 0 days 1,784 sqft
    2024-02-01 0 days 1,786 sqft
    2024-03-01 0 days 1,784 sqft
    Baraboo's median listing age (time on market) for 2024-03-01 was 0 days.

    Baraboo's median square footage for active listings during the 2024-03-01 period was 1,784 sqft. One year prior, the average listing was 1,616 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).