Davenport FHA Loan Rates, Closing Costs & Stats
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL
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.
Davenport's 71 lenders originated 748 FHA loans during 2023. The total origination value was $119,040,000, with an average FHA loan value of $159,144.
Davenport FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Davenport
averaged
5.58%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Davenport's average FHA mortgage closing costs are $5,404.
The average rate for the prior week (2024-09-27) was
5.98% and
one month ago for the week of 2024-08-30, the
average rate was 6.23%.
The average rate one year ago was 6.97%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.55%.
Davenport 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 Davenport level.
The top Davenport FHA lender as defined by loan originations is BROKER SOLUTIONS, INC., with
88 FHA loans originated. Their average total fees are
$8,329, which is $1,618
higher than the next largest lender,
FAIRWAY INDEPENDENT MORTGAGE CORPORATION.
The lowest fee Davenport FHA lenders (with over 10 loans originated) are
RUHL MORTGAGE, LLC ($4,993), GREENSTATE CREDIT UNION ($5,139), Servion, Inc. ($5,274), American Bank and Trust Company ($5,849) and CALIBER HOME LOANS, INC. ($6,096).
The lowest rate Davenport FHA lenders (with over 10 loans originated) are
GREENSTATE CREDIT UNION (6.01%), RUHL MORTGAGE, LLC (6.16%), QUICKEN LOANS, LLC (6.31%), CALIBER HOME LOANS, INC. (6.48%) and Servion, Inc. (6.56%).
Davenport FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | SCOTT | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | HENRY | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | MERCER | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | ROCK ISLAND | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | SCOTT | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | HENRY | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | MERCER | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
DAVENPORT-MOLINE-ROCK ISLAND, IA-IL | ROCK ISLAND | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Davenport (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $143,725 (6.5%) | $206,931 (7.3%) | 0.53 | 1,241 |
2018-02-01 | $143,250 (0.6%) | $206,833 (2.6%) | 0.52 | 1,198 |
2018-03-01 | $149,900 (3.8%) | $210,557 (2.8%) | 0.53 | 1,207 |
2018-04-01 | $166,475 (18.3%) | $229,432 (10.2%) | 0.56 | 1,171 |
2018-05-01 | $164,800 (10.3%) | $225,915 (6.7%) | 0.55 | 1,220 |
2018-06-01 | $167,700 (11.8%) | $226,153 (4.2%) | 0.56 | 1,309 |
2018-07-01 | $160,975 (7.4%) | $221,520 (2.0%) | 0.54 | 1,368 |
2018-08-01 | $163,950 (9.4%) | $223,513 (2.8%) | 0.55 | 1,416 |
2018-09-01 | $159,900 (6.7%) | $220,091 (3.9%) | 0.54 | 1,446 |
2018-10-01 | $155,000 (3.4%) | $214,588 (1.7%) | 0.53 | 1,441 |
2018-11-01 | $151,313 (0.9%) | $211,468 (-0.5%) | 0.51 | 1,423 |
2018-12-01 | $149,900 (0.6%) | $206,019 (-1.7%) | 0.52 | 1,318 |
2019-01-01 | $149,450 (4.0%) | $206,392 (-0.3%) | 0.52 | 1,195 |
2019-02-01 | $148,950 (4.0%) | $206,746 (0.0%) | 0.50 | 1,153 |
2019-03-01 | $145,857 (-2.7%) | $209,980 (-0.3%) | 0.48 | 1,155 |
2019-04-01 | $147,250 (-11.6%) | $213,524 (-6.9%) | 0.47 | 1,188 |
2019-05-01 | $149,900 (-9.0%) | $212,632 (-5.9%) | 0.47 | 1,201 |
2019-06-01 | $155,000 (-7.6%) | $214,857 (-5.0%) | 0.48 | 1,311 |
2019-07-01 | $154,750 (-3.9%) | $212,242 (-4.2%) | 0.48 | 1,330 |
2019-08-01 | $153,609 (-6.3%) | $210,524 (-5.8%) | 0.49 | 1,390 |
2019-09-01 | $151,523 (-5.2%) | $209,278 (-4.9%) | 0.48 | 1,429 |
2019-10-01 | $149,900 (-3.3%) | $208,447 (-2.9%) | 0.48 | 1,459 |
2019-11-01 | $149,900 (-0.9%) | $205,948 (-2.6%) | 0.49 | 1,437 |
2019-12-01 | $145,500 (-2.9%) | $200,538 (-2.7%) | 0.49 | 1,357 |
2020-01-01 | $144,825 (-3.1%) | $201,284 (-2.5%) | 0.48 | 1,290 |
2020-02-01 | $144,000 (-3.3%) | $201,898 (-2.3%) | 0.47 | 1,198 |
2020-03-01 | $144,975 (-0.6%) | $207,763 (-1.1%) | 0.45 | 1,103 |
2020-04-01 | $156,175 (6.1%) | $215,209 (0.8%) | 0.49 | 1,067 |
2020-05-01 | $165,000 (10.1%) | $223,799 (5.3%) | 0.50 | 1,011 |
2020-06-01 | $179,495 (15.8%) | $231,759 (7.9%) | 0.53 | 932 |
2020-07-01 | $181,923 (17.6%) | $236,031 (11.2%) | 0.53 | 892 |
2020-08-01 | $170,000 (10.7%) | $231,493 (10.0%) | 0.49 | 864 |
2020-09-01 | $176,800 (16.7%) | $232,897 (11.3%) | 0.51 | 832 |
2020-10-01 | $149,900 (0.0%) | $218,282 (4.7%) | 0.43 | 823 |
2020-11-01 | $142,500 (-4.9%) | $213,129 (3.5%) | 0.42 | 812 |
2020-12-01 | $141,225 (-2.9%) | $212,768 (6.1%) | 0.42 | 737 |
2021-01-01 | $131,950 (-8.9%) | $208,295 (3.5%) | 0.39 | 623 |
2021-02-01 | $130,975 (-9.1%) | $218,215 (8.1%) | 0.38 | 523 |
2021-03-01 | $142,450 (-1.7%) | $220,476 (6.1%) | 0.40 | 493 |
2021-04-01 | $165,125 (5.7%) | $231,232 (7.5%) | 0.45 | 464 |
2021-05-01 | $165,000 (0.0%) | $225,612 (0.8%) | 0.44 | 486 |
2021-06-01 | $151,125 (-15.8%) | $221,475 (-4.4%) | 0.40 | 649 |
2021-07-01 | $130,000 (-28.5%) | $197,664 (-16.3%) | 0.34 | 800 |
2021-08-01 | $128,725 (-24.3%) | $195,044 (-15.8%) | 0.34 | 823 |
2021-09-01 | $129,950 (-26.5%) | $195,123 (-16.2%) | 0.35 | 900 |
2021-10-01 | $135,000 (-9.9%) | $194,639 (-10.8%) | 0.36 | 948 |
2021-11-01 | $134,925 (-5.3%) | $189,684 (-11.0%) | 0.36 | 895 |
2021-12-01 | $129,500 (-8.3%) | $187,429 (-11.9%) | 0.35 | 806 |
2022-01-01 | $124,950 (-5.3%) | $180,338 (-13.4%) | 0.34 | 640 |
2022-02-01 | $126,000 (-3.8%) | $180,566 (-17.3%) | 0.33 | 503 |
2022-03-01 | $134,900 (-5.3%) | $190,461 (-13.6%) | 0.34 | 413 |
2022-04-01 | $142,500 (-13.7%) | $204,230 (-11.7%) | 0.34 | 407 |
2022-05-01 | $165,000 (0.0%) | $232,357 (3.0%) | 0.38 | 459 |
2022-06-01 | $175,000 (15.8%) | $237,207 (7.1%) | 0.39 | 532 |
2022-07-01 | $189,900 (46.1%) | $245,153 (24.0%) | 0.43 | 552 |
2022-08-01 | $192,000 (49.2%) | $254,836 (30.7%) | 0.44 | 567 |
2022-09-01 | $215,225 (65.6%) | $266,708 (36.7%) | 0.50 | 572 |
2022-10-01 | $195,500 (44.8%) | $254,477 (30.7%) | 0.46 | 625 |
2022-11-01 | $182,500 (35.3%) | $247,380 (30.4%) | 0.44 | 684 |
2022-12-01 | $189,900 (46.6%) | $247,772 (32.2%) | 0.47 | 625 |
2023-01-01 | $190,000 (52.1%) | $250,106 (38.7%) | 0.47 | 552 |
2023-02-01 | $201,975 (60.3%) | $248,341 (37.5%) | 0.49 | 533 |
2023-03-01 | $209,900 (55.6%) | $254,134 (33.4%) | 0.50 | 490 |
2023-04-01 | $219,950 (54.4%) | $263,259 (28.9%) | 0.51 | 495 |
2023-05-01 | $222,450 (34.8%) | $269,602 (16.0%) | 0.50 | 477 |
2023-06-01 | $234,950 (34.3%) | $275,343 (16.1%) | 0.53 | 514 |
2023-07-01 | $250,000 (31.7%) | $293,496 (19.7%) | 0.57 | 534 |
2023-08-01 | $240,450 (25.2%) | $292,502 (14.8%) | 0.55 | 560 |
2023-09-01 | $237,098 (10.2%) | $292,868 (9.8%) | 0.55 | 568 |
2023-10-01 | $238,000 (21.7%) | $288,442 (13.4%) | 0.56 | 604 |
2023-11-01 | $234,125 (28.3%) | $288,170 (16.5%) | 0.56 | 627 |
2023-12-01 | $224,900 (18.4%) | $281,567 (13.6%) | 0.55 | 597 |
2024-01-01 | $217,950 (14.7%) | $278,923 (11.5%) | 0.53 | 539 |
2024-02-01 | $211,200 (4.6%) | $280,923 (13.1%) | 0.51 | 517 |
2024-03-01 | $212,450 (1.2%) | $291,368 (14.7%) | 0.50 | 516 |
2024-04-01 | $226,597 (3.0%) | $302,148 (14.8%) | 0.53 | 540 |
2024-05-01 | $255,900 (15.0%) | $318,327 (18.1%) | 0.58 | 547 |
2024-06-01 | $244,900 (4.2%) | $314,656 (14.3%) | 0.55 | 578 |
2024-07-01 | $217,500 (-13.0%) | $301,294 (2.7%) | 0.50 | 656 |
2024-08-01 | $215,000 (-10.6%) | $301,310 (3.0%) | 0.50 | 741 |
2024-09-01 | $199,950 (-15.7%) | $284,105 (-3.0%) | 0.00 | 805 |
Davenport's median listing price comes in at 0% of the national average.
Davenport's average listing price for 2024-09-01 was $284,105, a difference of $-8,763 (-3.0%) versus the prior year and $-17,205 versus the prior month.
For the 2024-09-01 period, Davenport had 805 MLS listings, a difference of 64 listings (9%) versus the prior month and 237 listings (42%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Davenport (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 73 days | 1,509 sqft |
2018-02-01 | 68 days | 1,506 sqft |
2018-03-01 | 60 days | 1,540 sqft |
2018-04-01 | 51 days | 1,564 sqft |
2018-05-01 | 45 days | 1,543 sqft |
2018-06-01 | 47 days | 1,546 sqft |
2018-07-01 | 50 days | 1,530 sqft |
2018-08-01 | 51 days | 1,518 sqft |
2018-09-01 | 54 days | 1,513 sqft |
2018-10-01 | 58 days | 1,489 sqft |
2018-11-01 | 59 days | 1,475 sqft |
2018-12-01 | 65 days | 1,474 sqft |
2019-01-01 | 71 days | 1,474 sqft |
2019-02-01 | 73 days | 1,474 sqft |
2019-03-01 | 59 days | 1,474 sqft |
2019-04-01 | 40 days | 1,474 sqft |
2019-05-01 | 37 days | 1,477 sqft |
2019-06-01 | 44 days | 1,520 sqft |
2019-07-01 | 50 days | 1,715 sqft |
2019-08-01 | 54 days | 1,749 sqft |
2019-09-01 | 59 days | 1,753 sqft |
2019-10-01 | 61 days | 1,756 sqft |
2019-11-01 | 63 days | 1,700 sqft |
2019-12-01 | 72 days | 1,656 sqft |
2020-01-01 | 80 days | 1,638 sqft |
2020-02-01 | 82 days | 1,609 sqft |
2020-03-01 | 73 days | 1,611 sqft |
2020-04-01 | 72 days | 1,665 sqft |
2020-05-01 | 61 days | 1,699 sqft |
2020-06-01 | 54 days | 1,753 sqft |
2020-07-01 | 52 days | 1,741 sqft |
2020-08-01 | 45 days | 1,723 sqft |
2020-09-01 | 49 days | 1,723 sqft |
2020-10-01 | 47 days | 1,633 sqft |
2020-11-01 | 52 days | 1,611 sqft |
2020-12-01 | 60 days | 1,593 sqft |
2021-01-01 | 66 days | 1,566 sqft |
2021-02-01 | 63 days | 1,593 sqft |
2021-03-01 | 53 days | 1,591 sqft |
2021-04-01 | 41 days | 1,591 sqft |
2021-05-01 | 34 days | 1,597 sqft |
2021-06-01 | 28 days | 1,544 sqft |
2021-07-01 | 36 days | 1,474 sqft |
2021-08-01 | 41 days | 1,474 sqft |
2021-09-01 | 47 days | 1,490 sqft |
2021-10-01 | 48 days | 1,496 sqft |
2021-11-01 | 56 days | 1,515 sqft |
2021-12-01 | 65 days | 1,480 sqft |
2022-01-01 | 76 days | 1,463 sqft |
2022-02-01 | 77 days | 1,442 sqft |
2022-03-01 | 45 days | 1,468 sqft |
2022-04-01 | 38 days | 1,474 sqft |
2022-05-01 | 34 days | 1,579 sqft |
2022-06-01 | 37 days | 1,588 sqft |
2022-07-01 | 38 days | 1,625 sqft |
2022-08-01 | 43 days | 1,617 sqft |
2022-09-01 | 42 days | 1,604 sqft |
2022-10-01 | 43 days | 1,570 sqft |
2022-11-01 | 48 days | 1,556 sqft |
2022-12-01 | 59 days | 1,546 sqft |
2023-01-01 | 71 days | 1,549 sqft |
2023-02-01 | 62 days | 1,505 sqft |
2023-03-01 | 47 days | 1,499 sqft |
2023-04-01 | 47 days | 1,546 sqft |
2023-05-01 | 46 days | 1,549 sqft |
2023-06-01 | 44 days | 1,609 sqft |
2023-07-01 | 40 days | 1,667 sqft |
2023-08-01 | 40 days | 1,665 sqft |
2023-09-01 | 40 days | 1,677 sqft |
2023-10-01 | 41 days | 1,686 sqft |
2023-11-01 | 43 days | 1,690 sqft |
2023-12-01 | 51 days | 1,658 sqft |
2024-01-01 | 64 days | 1,622 sqft |
2024-02-01 | 61 days | 1,620 sqft |
2024-03-01 | 40 days | 1,612 sqft |
2024-04-01 | 43 days | 1,660 sqft |
2024-05-01 | 37 days | 1,673 sqft |
2024-06-01 | 36 days | 1,712 sqft |
2024-07-01 | 38 days | 1,725 sqft |
2024-08-01 | 38 days | 1,711 sqft |
2024-09-01 | 0 days | 1,691 sqft |
Davenport's median square footage for active listings during the 2024-09-01 period was 1,691 sqft. One year prior, the average listing was 1,677 sqft.