Beaver Dam FHA Loan Rates, Closing Costs & Stats

Beaver Dam, 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.

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).