Baraboo FHA Loan Rates, Closing Costs & Stats

Baraboo, WI

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 36 lenders originated 104 FHA loans during 2022. The total origination value was $23,100,000, with an average FHA loan value of $222,115.

Baraboo FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Baraboo averaged 6.35% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Baraboo's average FHA mortgage closing costs are $6,510.

The average rate for the prior week (2024-02-23) was 6.24% and one month ago for the week of 2024-01-26, the average rate was 5.94%.

The average rate one year ago was 6.17%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.04%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 25 5.22% $5,633
GUILD MORTGAGE COMPANY 8 4.88% $11,305
QUICKEN LOANS, LLC 6 4.77% $10,258
PENNYMAC LOAN SERVICES, LLC 5 5.32% $8,815
UNITED WHOLESALE MORTGAGE, LLC 4 3.99% $6,582
THOMPSON KANE & COMPANY, LLC 4 4.81% $7,680
Nations Lending Corporation 3 5.42% $8,804
Flagstar Bank, FSB 3 5.75% $5,630
AMERISAVE MORTGAGE CORPORATION 3 3.46% $8,976
CROSSCOUNTRY MORTGAGE, LLC 3 6.38% $11,628
NEWREZ LLC 3 5.21% $7,324
ENVOY MORTGAGE, LTD 2 5.19% $9,879
AMERICAN PACIFIC MORTGAGE CORPORATION 2 5.06% $8,774
BROKER SOLUTIONS, INC. 2 5.63% $9,836
LAKEVIEW LOAN SERVICING, LLC 2 3.88% $5,454
NEW DAY FINANCIAL, LLC 1 6.25% $10,978
Paramount Residential Mortgage Group, Inc. 1 4.25% $8,661
Prosperity Home Mortgage, LLC 1 5.62% $10,615
The Huntington National Bank 1 3.50% $9,379
U.S. Bank 1 6.75% $8,451
AMERICAN FINANCING CORPORATION 1 5.38% $9,136
Waterstone Mortgage Corporation 1 5.13% $6,114
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 4.00% $9,041
AmeriHome Mortgage Company, LLC 1 4.99% $11,539
BMO Harris Bank 1 4.63% $7,493
CALIBER HOME LOANS, INC. 1 3.99% $8,736
EMBRACE HOME LOANS, INC. 1 2.99% $10,154
EVERETT FINANCIAL, INC. 1 6.63% $5,306
FIRST STATE MORTGAGE SERVICES, LLC 1 5.75% $8,704
FREEDOM MORTGAGE CORPORATION 1 3.75% $2,784
GUARANTEED RATE, INC. 1 5.38% $9,915
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 4.75% $8,356
KELLER MORTGAGE, LLC 1 7.25% $9,609
LEADERONE FINANCIAL CORPORATION 1 4.50% $12,310
LOANDEPOT.COM, LLC 1 7.13% $10,639
Loan Simple, Inc. 1 5.25% $7,420

The top Baraboo FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 25 FHA loans originated. Their average total fees are $5,633, which is $5,672 lower than the next largest lender, GUILD MORTGAGE COMPANY.

The lowest fee Baraboo FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,633), .

The lowest rate Baraboo FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION (5.22%), .

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 (15.5%) $264,699 (-3.5%) 0.00 288
2018-02-01 $244,975 (24.9%) $276,284 (-0.5%) 0.00 260
2018-03-01 $249,900 (17.5%) $278,239 (0.5%) 0.00 285
2018-04-01 $249,675 (13.6%) $282,934 (2.2%) 0.00 302
2018-05-01 $249,225 (13.9%) $284,928 (5.3%) 0.00 329
2018-06-01 $249,000 (10.9%) $284,452 (4.6%) 0.00 348
2018-07-01 $253,175 (13.3%) $291,188 (6.6%) 0.00 353
2018-08-01 $249,450 (13.3%) $294,168 (7.3%) 0.00 355
2018-09-01 $249,900 (9.2%) $296,095 (6.5%) 0.00 347
2018-10-01 $239,450 (4.4%) $281,639 (3.7%) 0.00 347
2018-11-01 $231,450 (0.6%) $270,340 (0.5%) 0.00 331
2018-12-01 $229,900 (0.3%) $265,516 (0.9%) 0.00 292
2019-01-01 $229,925 (-0.5%) $273,339 (3.6%) 0.00 273
2019-02-01 $237,000 (-4.0%) $275,989 (0.4%) 0.00 244
2019-03-01 $234,493 (-7.9%) $278,326 (-0.1%) 0.00 264
2019-04-01 $236,993 (-3.1%) $286,450 (3.3%) 0.00 286
2019-05-01 $252,950 (9.1%) $301,782 (12.0%) 0.00 307
2019-06-01 $255,950 (4.4%) $303,603 (5.9%) 0.00 322
2019-07-01 $259,450 (7.0%) $305,472 (4.4%) 0.00 324
2019-08-01 $258,536 (4.8%) $305,487 (2.4%) 0.00 320
2019-09-01 $256,491 (5.3%) $306,070 (2.5%) 0.00 316
2019-10-01 $255,127 (8.3%) $305,067 (8.0%) 0.00 308
2019-11-01 $254,900 (12.4%) $312,610 (18.2%) 0.00 265
2019-12-01 $251,150 (12.7%) $304,905 (17.8%) 0.00 255
2020-01-01 $252,400 (15.6%) $310,360 (16.6%) 0.00 225
2020-02-01 $254,900 (15.8%) $311,415 (16.0%) 0.00 225
2020-03-01 $267,400 (19.6%) $323,138 (18.0%) 0.00 222
2020-04-01 $267,400 (17.8%) $324,110 (15.3%) 0.00 230
2020-05-01 $257,400 (1.1%) $307,687 (0.3%) 0.00 226
2020-06-01 $256,150 (9.1%) $323,975 (14.8%) 0.00 194
2020-07-01 $254,900 (3.7%) $329,456 (15.9%) 0.00 181
2020-08-01 $249,900 (1.0%) $326,796 (15.9%) 0.00 158
2020-09-01 $248,950 (1.6%) $319,346 (14.2%) 0.00 169
2020-10-01 $245,450 (-2.1%) $296,144 (3.5%) 0.00 135
2020-11-01 $239,450 (-2.2%) $294,653 (-0.9%) 0.00 128
2020-12-01 $226,950 (-5.3%) $274,462 (-5.0%) 0.00 113
2021-01-01 $226,950 (-4.4%) $271,348 (-6.1%) 0.00 102
2021-02-01 $227,400 (-5.4%) $288,977 (-1.2%) 0.00 96
2021-03-01 $229,450 (-4.9%) $313,587 (2.7%) 0.00 97
2021-04-01 $226,950 (-3.0%) $322,883 (7.3%) 0.00 102
2021-05-01 $229,450 (1.9%) $317,768 (14.2%) 0.00 99
2021-06-01 $243,425 (-0.1%) $344,835 (4.6%) 0.00 111
2021-07-01 $270,000 (9.4%) $376,331 (17.7%) 0.00 110
2021-08-01 $278,650 (16.7%) $374,446 (18.8%) 0.00 109
2021-09-01 $276,950 (17.2%) $380,388 (21.4%) 0.00 107
2021-10-01 $269,900 (23.8%) $362,199 (25.2%) 0.00 103
2021-11-01 $244,900 (6.2%) $345,297 (17.3%) 0.00 87
2021-12-01 $246,150 (13.6%) $362,629 (36.2%) 0.00 80
2022-01-01 $265,000 (18.1%) $375,970 (49.3%) 0.00 61
2022-02-01 $259,950 (21.0%) $378,448 (42.9%) 0.00 56
2022-03-01 $282,475 (22.3%) $359,174 (22.4%) 0.00 68
2022-04-01 $307,450 (25.6%) $406,082 (29.1%) 0.00 66
2022-05-01 $341,175 (42.6%) $416,830 (29.6%) 0.00 84
2022-06-01 $351,950 (37.2%) $433,231 (31.5%) 0.00 98
2022-07-01 $311,400 (16.4%) $391,247 (7.8%) 0.00 126
2022-08-01 $334,950 (25.3%) $406,005 (11.3%) 0.00 121
2022-09-01 $347,400 (27.3%) $406,351 (11.7%) 0.00 119
2022-10-01 $319,900 (20.6%) $384,192 (10.2%) 0.00 128
2022-11-01 $315,750 (32.7%) $368,254 (11.9%) 0.00 132
2022-12-01 $299,900 (31.8%) $359,657 (2.0%) 0.00 122
2023-01-01 $286,675 (23.3%) $357,792 (-8.2%) 0.00 101
2023-02-01 $293,225 (21.3%) $361,103 (-6.2%) 0.00 90
2023-03-01 $324,225 (11.0%) $367,528 (1.5%) 0.00 85
2023-04-01 $291,000 (0.6%) $425,961 (6.0%) 0.00 86
2023-05-01 $304,950 (-6.6%) $462,800 (15.5%) 0.00 86
2023-06-01 $338,504 (0.0%) $482,811 (14.7%) 0.00 99
2023-07-01 $299,900 (-2.7%) $445,683 (10.1%) 0.00 121
2023-08-01 $319,900 (-9.1%) $445,171 (3.8%) 0.00 126
2023-09-01 $350,000 (-7.3%) $473,779 (6.5%) 0.00 144
2023-10-01 $357,500 (-0.3%) $497,867 (24.4%) 0.00 143
2023-11-01 $369,725 (9.5%) $495,495 (33.0%) 0.00 146
2023-12-01 $354,500 (0.0%) $488,501 (0.0%) 0.00 142
2024-01-01 $348,200 (0.0%) $483,043 (0.0%) 0.00 138
Baraboo's median listing price for 2024-01-01 was $348,200, a difference of $61,525 (0.0%) versus the prior year and $-6,300 versus the prior month.

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

Baraboo's average listing price for 2024-01-01 was $483,043, a difference of $125,251 (0.0%) versus the prior year and $-5,458 versus the prior month.

For the 2024-01-01 period, Baraboo had 138 MLS listings, a difference of -4 listings (-3%) versus the prior month and 37 listings (37%) 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
Baraboo's median listing age (time on market) for 2024-01-01 was 0 days.

Baraboo's median square footage for active listings during the 2024-01-01 period was 1,784 sqft. One year prior, the average listing was 1,587 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).