Beaver Dam FHA Loan Rates, Closing Costs & Stats

Beaver Dam, 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.

    Beaver Dam's 46 lenders originated 149 FHA loans during 2024. The total origination value was $33,885,000, with an average FHA loan value of $227,416.

    Beaver Dam FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Beaver Dam averaged 0.13% for the week of 2025-07-04, compared to the national average (all FHA variants) of 0% for the same period.

    Beaver Dam's average FHA mortgage closing costs are $6,647.

    The average rate for the prior week (2025-06-27) was 6.72% and one month ago for the week of 2025-05-30, the average rate was 6.69%.

    The average rate one year ago was 7.01%.

    For refis of the same type during the week of 2025-07-04, the average rate was -0.47%.

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

    Beaver Dam 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 Beaver Dam level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 19 6.37% $10,791
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.89% $8,568
    MOVEMENT MORTGAGE, LLC 9 7.04% $10,715
    NEWREZ LLC 7 6.54% $8,071
    FREEDOM MORTGAGE CORPORATION 7 6.25% $10,339
    CMG MORTGAGE, INC. 7 7.59% $8,650
    PLANET HOME LENDING, LLC 6 6.31% $6,284
    PENNYMAC LOAN SERVICES, LLC 6 5.88% $8,959
    GUILD MORTGAGE COMPANY 5 5.58% $8,485
    CARDINAL FINANCIAL 5 6.68% $15,991
    CROSSCOUNTRY MORTGAGE, LLC 4 6.80% $8,168
    Paramount Residential Mortgage Group, Inc. 3 7.17% $7,879
    LOANDEPOT.COM, LLC 3 6.33% $10,219
    AMERICAN FINANCIAL NETWORK, INC. 3 6.00% $13,330
    V.I.P. MORTGAGE, INC. 2 6.19% $5,798
    AmeriHome Mortgage Company, LLC 2 7.06% $5,824
    Barrington Bank & Trust Company, N.A. 2 6.50% $9,852
    BROKER SOLUTIONS, INC. 2 6.87% $10,847
    GUARANTEED RATE, INC. 2 6.93% $9,365
    LAKEVIEW LOAN SERVICING, LLC 2 6.56% $8,694
    MUTUAL OF OMAHA MORTGAGE, INC. 2 5.56% $14,950
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 7.13% $11,229
    Prosperity Home Mortgage, LLC 2 5.94% $8,352
    THOMPSON KANE & COMPANY, LLC 2 7.31% $8,131
    UNITED WHOLESALE MORTGAGE, LLC 2 5.75% $15,502
    Flagstar Bank, FSB 1 6.75% $8,157
    Mr. Cooper ( Nationstar Mortgage ) 1 6.50% $14,690
    TOWNE MORTGAGE COMPANY 1 7.75% $6,009
    Nations Lending Corporation 1 7.75% $7,557
    NATIONS RELIABLE LENDING, LLC 1 7.25% $4,964
    FIRST COLONY MORTGAGE CORPORATION 1 6.63% $6,067
    OCEANSIDE MORTGAGE COMPANY 1 6.75% $3,143
    EVERETT FINANCIAL, INC. 1 6.00% $19,769
    ENDEAVOR CAPITAL, LLC. 1 6.63% $7,190
    Bank of England 1 6.75% $6,986
    PREMIA MORTGAGE, LLC 1 5.65% $9,784
    TruHome Solutions, LLC 1 6.13% $9,259
    Ameris Bank 1 6.25% $7,532
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.13% $7,401
    Servion, Inc. 1 6.00% $8,310
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $10,324
    Ixonia Bank 1 6.75% $10,365
    JPMorgan Chase Bank 1 7.13% $9,138
    VILLAGE CAPITAL MORTGAGE 1 5.50% $8,778
    GSF Mortgage Corporation 1 6.00% $5,267
    Magnolia Bank 1 6.63% $10,091

    The top Beaver Dam FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 19 FHA loans originated. Their average total fees are $10,791, which is $2,223 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Beaver Dam FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,568), QUICKEN LOANS, LLC ($10,791), .

    The lowest rate Beaver Dam FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.37%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.89%), .

    Beaver Dam FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    BEAVER DAM, WI DODGE 2022 $420,680 $538,650 $651,050 $809,150
    BEAVER DAM, WI DODGE 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).