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 50 lenders originated 128 FHA loans during 2023. The total origination value was $27,630,000, with an average FHA loan value of $215,859.

Beaver Dam FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Beaver Dam averaged 6.8% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Beaver Dam's average FHA mortgage closing costs are $6,282.

The average rate for the prior week (2024-04-05) was 6.82% and one month ago for the week of 2024-03-08, the average rate was 6.76%.

The average rate one year ago was 6.19%.

For refis of the same type during the week of 2024-04-12, the average rate was 5.91%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 10 6.35% $8,870
CMG MORTGAGE, INC. 8 7.47% $9,833
MOVEMENT MORTGAGE, LLC 7 7.07% $14,492
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 7 6.98% $9,628
Barrington Bank & Trust Company, N.A. 6 7.10% $8,321
Mr. Cooper ( Nationstar Mortgage ) 5 6.00% $14,341
GUILD MORTGAGE COMPANY 4 6.38% $8,840
CORNERSTONE HOME LENDING, INC. 4 6.81% $10,475
LOANDEPOT.COM, LLC 3 6.83% $10,629
Prosperity Home Mortgage, LLC 3 6.42% $7,212
GSF Mortgage Corporation 3 6.13% $7,268
MUTUAL OF OMAHA MORTGAGE, INC. 3 6.71% $10,983
CROSSCOUNTRY MORTGAGE, LLC 3 6.96% $7,402
NEWREZ LLC 3 6.75% $7,168
CARDINAL FINANCIAL 3 7.50% $9,096
WISCONSIN MORTGAGE CORPORATION 2 6.69% $5,113
A + MORTGAGE SERVICES, INC. 2 6.63% $10,829
Bank Five Nine 2 6.44% $6,399
Bank of England 2 7.00% $7,646
ENDEAVOR CAPITAL, LLC. 2 6.68% $8,685
GUARANTEED RATE, INC. 2 6.25% $10,512
Mortgage Research Center, LLC 2 8.13% $5,611
Paramount Residential Mortgage Group, Inc. 2 6.69% $9,697
PENNYMAC LOAN SERVICES, LLC 2 6.25% $13,665
PLANET HOME LENDING, LLC 2 7.00% $7,478
THOMPSON KANE & COMPANY, LLC 2 6.88% $9,026
V.I.P. MORTGAGE, INC. 2 6.69% $9,703
BROKER SOLUTIONS, INC. 1 6.75% $11,136
AXIA FINANCIAL, LLC 1 6.75% $9,526
Associated Bank 1 5.88% $5,505
NATIONS DIRECT MORTGAGE, LLC 1 7.63% $4,946
Arvest Bank 1 7.00% $7,055
UNITED WHOLESALE MORTGAGE, LLC 1 6.38% $8,856
U.S. Bank 1 6.25% $10,944
PENTAGON FEDERAL CREDIT UNION 1 5.88% $7,852
Plains Commerce Bank 1 6.75% $4,105
AMERICAN PORTFOLIO MORTGAGE CORPORATION 1 8.13% $8,443
PLAZA HOME MORTGAGE, INC. 1 6.75% $6,849
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 7.13% $12,082
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.50% $4,345
AMERISAVE MORTGAGE CORPORATION 1 6.75% $13,869
SUCCESS MORTGAGE PARTNERS, INC. 1 6.13% $6,468
SUN WEST MORTGAGE COMPANY, INC. 1 5.25% $9,248
FREEDOM MORTGAGE CORPORATION 1 7.25% $6,062
Equity Prime Mortgage LLC 1 7.50% $10,456
GUARANTEED RATE AFFINITY, LLC 1 6.25% $5,323
Waterstone Mortgage Corporation 1 6.13% $9,957
CHURCHILL MORTGAGE CORPORATION 1 7.13% $5,810
Carrington Mortgage Services, LLC 1 6.63% $7,474
TOWNE MORTGAGE COMPANY 1 6.25% $11,253

The top Beaver Dam FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 10 FHA loans originated. Their average total fees are $8,870, which is $963 lower than the next largest lender, CMG MORTGAGE, INC..

The lowest fee Beaver Dam FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($8,870), .

The lowest rate Beaver Dam FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.35%), .

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Beaver Dam (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 $169,850 (13.3%) $226,877 (6.4%) 0.00 232
2018-02-01 $179,800 (16.1%) $238,023 (12.2%) 0.00 224
2018-03-01 $187,450 (17.2%) $241,948 (14.9%) 0.00 226
2018-04-01 $192,450 (7.0%) $250,356 (12.8%) 0.00 228
2018-05-01 $207,425 (17.3%) $279,286 (25.4%) 0.00 226
2018-06-01 $219,900 (24.1%) $279,833 (26.9%) 0.00 236
2018-07-01 $209,900 (18.0%) $282,413 (25.8%) 0.00 281
2018-08-01 $209,900 (23.5%) $281,828 (27.7%) 0.00 308
2018-09-01 $199,900 (17.7%) $266,680 (20.8%) 0.00 323
2018-10-01 $205,000 (28.2%) $271,829 (28.6%) 0.00 322
2018-11-01 $204,425 (24.9%) $279,382 (28.2%) 0.00 300
2018-12-01 $199,900 (25.0%) $272,212 (22.7%) 0.00 257
2019-01-01 $199,900 (17.7%) $279,419 (23.2%) 0.00 231
2019-02-01 $209,900 (16.7%) $278,302 (16.9%) 0.00 222
2019-03-01 $220,528 (17.7%) $280,200 (15.8%) 0.00 226
2019-04-01 $229,950 (19.5%) $297,958 (19.0%) 0.00 232
2019-05-01 $221,150 (6.6%) $288,379 (3.3%) 0.00 253
2019-06-01 $235,000 (6.9%) $286,701 (2.5%) 0.00 263
2019-07-01 $225,900 (7.6%) $286,761 (1.5%) 0.00 277
2019-08-01 $220,836 (5.2%) $281,198 (-0.2%) 0.00 291
2019-09-01 $214,741 (7.4%) $274,246 (2.8%) 0.00 299
2019-10-01 $210,000 (2.4%) $269,611 (-0.8%) 0.00 304
2019-11-01 $194,900 (-4.7%) $252,891 (-9.5%) 0.00 281
2019-12-01 $199,850 (0.0%) $253,495 (-6.9%) 0.00 237
2020-01-01 $199,900 (0.0%) $271,970 (-2.7%) 0.00 206
2020-02-01 $199,900 (-4.8%) $272,328 (-2.2%) 0.00 204
2020-03-01 $199,974 (-9.3%) $288,670 (3.0%) 0.00 184
2020-04-01 $208,700 (-9.2%) $289,400 (-2.9%) 0.00 176
2020-05-01 $239,000 (8.1%) $302,157 (4.8%) 0.00 179
2020-06-01 $232,175 (-1.2%) $292,674 (2.1%) 0.00 189
2020-07-01 $239,900 (6.2%) $296,119 (3.3%) 0.00 193
2020-08-01 $239,900 (8.6%) $305,400 (8.6%) 0.00 181
2020-09-01 $242,425 (12.9%) $318,464 (16.1%) 0.00 172
2020-10-01 $254,900 (21.4%) $329,384 (22.2%) 0.00 162
2020-11-01 $233,650 (19.9%) $318,518 (26.0%) 0.00 143
2020-12-01 $212,450 (6.3%) $310,781 (22.6%) 0.00 129
2021-01-01 $217,450 (8.8%) $308,067 (13.3%) 0.00 118
2021-02-01 $225,000 (12.6%) $325,644 (19.6%) 0.00 104
2021-03-01 $224,900 (12.5%) $332,303 (15.1%) 0.00 102
2021-04-01 $234,425 (12.3%) $340,766 (17.8%) 0.00 109
2021-05-01 $249,900 (4.6%) $318,351 (5.4%) 0.00 122
2021-06-01 $237,450 (2.3%) $316,277 (8.1%) 0.00 140
2021-07-01 $249,900 (4.2%) $325,003 (9.8%) 0.00 144
2021-08-01 $242,388 (1.0%) $311,442 (2.0%) 0.00 173
2021-09-01 $244,675 (0.9%) $313,853 (-1.5%) 0.00 170
2021-10-01 $232,450 (-8.8%) $287,903 (-12.6%) 0.00 167
2021-11-01 $223,550 (-4.3%) $286,402 (-10.1%) 0.00 147
2021-12-01 $232,450 (9.4%) $297,017 (-4.4%) 0.00 123
2022-01-01 $243,400 (11.9%) $303,000 (-1.6%) 0.00 82
2022-02-01 $289,900 (28.8%) $343,997 (5.6%) 0.00 73
2022-03-01 $309,900 (37.8%) $349,703 (5.2%) 0.00 76
2022-04-01 $285,000 (21.6%) $350,999 (3.0%) 0.00 104
2022-05-01 $274,900 (10.0%) $332,614 (4.5%) 0.00 124
2022-06-01 $277,450 (16.9%) $365,082 (15.4%) 0.00 134
2022-07-01 $299,000 (19.7%) $369,945 (13.8%) 0.00 139
2022-08-01 $301,200 (24.3%) $371,685 (19.3%) 0.00 128
2022-09-01 $295,225 (20.7%) $368,526 (17.4%) 0.00 126
2022-10-01 $289,788 (24.7%) $365,512 (27.0%) 0.00 127
2022-11-01 $284,803 (27.4%) $374,356 (30.7%) 0.00 114
2022-12-01 $314,900 (35.5%) $394,857 (32.9%) 0.00 90
2023-01-01 $334,225 (37.3%) $388,067 (28.1%) 0.00 75
2023-02-01 $345,675 (19.2%) $385,171 (12.0%) 0.00 78
2023-03-01 $324,700 (4.8%) $379,416 (8.5%) 0.00 74
2023-04-01 $299,900 (5.2%) $367,561 (4.7%) 0.00 90
2023-05-01 $322,000 (17.1%) $362,771 (9.1%) 0.00 93
2023-06-01 $329,225 (18.7%) $384,029 (5.2%) 0.00 112
2023-07-01 $329,900 (10.3%) $422,797 (14.3%) 0.00 136
2023-08-01 $338,825 (12.5%) $412,481 (11.0%) 0.00 144
2023-09-01 $335,000 (13.5%) $409,096 (11.0%) 0.00 140
2023-10-01 $334,500 (15.4%) $405,926 (11.1%) 0.00 150
2023-11-01 $324,975 (14.1%) $397,151 (6.1%) 0.00 137
2023-12-01 $299,900 (-4.8%) $386,540 (-2.1%) 0.00 119
2024-01-01 $303,700 (-9.1%) $386,983 (-0.3%) 0.00 93
2024-02-01 $361,150 (4.5%) $405,524 (5.3%) 0.00 86
2024-03-01 $339,900 (4.7%) $415,541 (9.5%) 0.00 95
Beaver Dam's median listing price for 2024-03-01 was $339,900, a difference of $15,200 (4.7%) versus the prior year and $-21,250 versus the prior month.

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

Beaver Dam's average listing price for 2024-03-01 was $415,541, a difference of $36,125 (9.5%) versus the prior year and $10,017 versus the prior month.

For the 2024-03-01 period, Beaver Dam had 95 MLS listings, a difference of 9 listings (10%) versus the prior month and 21 listings (28%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Beaver Dam (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,611 sqft
2018-02-01 0 days 1,625 sqft
2018-03-01 0 days 1,700 sqft
2018-04-01 0 days 1,652 sqft
2018-05-01 0 days 1,702 sqft
2018-06-01 0 days 1,731 sqft
2018-07-01 0 days 1,725 sqft
2018-08-01 0 days 1,738 sqft
2018-09-01 0 days 1,668 sqft
2018-10-01 0 days 1,688 sqft
2018-11-01 0 days 1,741 sqft
2018-12-01 0 days 1,700 sqft
2019-01-01 0 days 1,673 sqft
2019-02-01 0 days 1,680 sqft
2019-03-01 0 days 1,638 sqft
2019-04-01 0 days 1,674 sqft
2019-05-01 0 days 1,731 sqft
2019-06-01 0 days 1,792 sqft
2019-07-01 0 days 1,729 sqft
2019-08-01 0 days 1,716 sqft
2019-09-01 0 days 1,716 sqft
2019-10-01 0 days 1,716 sqft
2019-11-01 0 days 1,711 sqft
2019-12-01 0 days 1,700 sqft
2020-01-01 0 days 1,686 sqft
2020-02-01 0 days 1,742 sqft
2020-03-01 0 days 1,723 sqft
2020-04-01 0 days 1,683 sqft
2020-05-01 0 days 1,801 sqft
2020-06-01 0 days 1,718 sqft
2020-07-01 0 days 1,812 sqft
2020-08-01 0 days 1,829 sqft
2020-09-01 0 days 1,879 sqft
2020-10-01 0 days 1,870 sqft
2020-11-01 0 days 1,809 sqft
2020-12-01 0 days 1,710 sqft
2021-01-01 0 days 1,675 sqft
2021-02-01 0 days 1,750 sqft
2021-03-01 0 days 1,777 sqft
2021-04-01 0 days 1,799 sqft
2021-05-01 0 days 1,783 sqft
2021-06-01 0 days 1,701 sqft
2021-07-01 0 days 1,775 sqft
2021-08-01 0 days 1,729 sqft
2021-09-01 0 days 1,726 sqft
2021-10-01 0 days 1,710 sqft
2021-11-01 0 days 1,725 sqft
2021-12-01 0 days 1,749 sqft
2022-01-01 0 days 1,648 sqft
2022-02-01 0 days 1,694 sqft
2022-03-01 0 days 1,617 sqft
2022-04-01 0 days 1,721 sqft
2022-05-01 0 days 1,675 sqft
2022-06-01 0 days 1,709 sqft
2022-07-01 0 days 1,768 sqft
2022-08-01 0 days 1,806 sqft
2022-09-01 0 days 1,780 sqft
2022-10-01 0 days 1,695 sqft
2022-11-01 0 days 1,694 sqft
2022-12-01 0 days 1,693 sqft
2023-01-01 0 days 1,688 sqft
2023-02-01 0 days 1,641 sqft
2023-03-01 0 days 1,625 sqft
2023-04-01 0 days 1,672 sqft
2023-05-01 0 days 1,742 sqft
2023-06-01 0 days 1,799 sqft
2023-07-01 0 days 1,728 sqft
2023-08-01 0 days 1,721 sqft
2023-09-01 0 days 1,771 sqft
2023-10-01 0 days 1,785 sqft
2023-11-01 0 days 1,731 sqft
2023-12-01 0 days 1,703 sqft
2024-01-01 0 days 1,702 sqft
2024-02-01 0 days 1,714 sqft
2024-03-01 0 days 1,790 sqft
Beaver Dam's median listing age (time on market) for 2024-03-01 was 0 days.

Beaver Dam's median square footage for active listings during the 2024-03-01 period was 1,790 sqft. One year prior, the average listing was 1,625 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).