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 87 lenders originated 941 FHA loans during 2022. The total origination value was $140,995,000, with an average FHA loan value of $149,835.
Davenport FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Davenport
averaged
-0.76%
for the week of 2023-11-24, compared to the national average (all FHA variants) of
0% for the same period.
Davenport's average FHA mortgage closing costs are $5,168.
The average rate for the prior week (2023-11-17) was
6.73% and
one month ago for the week of 2023-10-20, the
average rate was 6.54%.
The average rate one year ago was 5.77%.
For refis of the same type during the week of 2023-11-24, the average rate
was -1.62%.
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
100 FHA loans originated. Their average total fees are
$7,526, which is $3,277
higher than the next largest lender,
RUHL MORTGAGE, LLC.
The lowest fee Davenport FHA lenders (with over 10 loans originated) are
RUHL MORTGAGE, LLC ($4,249), Servion, Inc. ($4,690), PLAZA HOME MORTGAGE, INC. ($4,895), HOME POINT FINANCIAL CORPORATION ($5,460) and CALIBER HOME LOANS, INC. ($5,570).
The lowest rate Davenport FHA lenders (with over 10 loans originated) are
Servion, Inc. (4.25%), QUICKEN LOANS, LLC (4.50%), MOVEMENT MORTGAGE, LLC (4.53%), RUHL MORTGAGE, LLC (4.63%) and CARDINAL FINANCIAL (4.81%).
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%) | $207,838 (0.5%) | 0.50 | 1,154 |
2019-03-01 | $146,114 (-2.5%) | $210,625 (0.0%) | 0.48 | 1,156 |
2019-04-01 | $147,250 (-11.6%) | $213,605 (-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%) | $214,539 (-5.1%) | 0.48 | 1,311 |
2019-07-01 | $154,575 (-4.0%) | $212,174 (-4.2%) | 0.48 | 1,331 |
2019-08-01 | $153,573 (-6.3%) | $210,384 (-5.9%) | 0.49 | 1,391 |
2019-09-01 | $151,507 (-5.3%) | $209,025 (-5.0%) | 0.48 | 1,429 |
2019-10-01 | $149,900 (-3.3%) | $208,119 (-3.0%) | 0.48 | 1,459 |
2019-11-01 | $149,600 (-1.1%) | $205,665 (-2.7%) | 0.49 | 1,436 |
2019-12-01 | $145,200 (-3.1%) | $200,255 (-2.8%) | 0.48 | 1,356 |
2020-01-01 | $144,825 (-3.1%) | $201,021 (-2.6%) | 0.48 | 1,288 |
2020-02-01 | $143,750 (-3.5%) | $201,586 (-3.0%) | 0.47 | 1,198 |
2020-03-01 | $144,975 (-0.8%) | $207,763 (-1.4%) | 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 (8.0%) | 0.53 | 932 |
2020-07-01 | $181,923 (17.7%) | $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 (11.4%) | 0.51 | 832 |
2020-10-01 | $149,900 (0.0%) | $218,282 (4.9%) | 0.43 | 823 |
2020-11-01 | $142,500 (-4.8%) | $213,129 (3.6%) | 0.42 | 812 |
2020-12-01 | $141,225 (-2.7%) | $212,768 (6.3%) | 0.42 | 737 |
2021-01-01 | $131,950 (-8.9%) | $208,295 (3.6%) | 0.39 | 623 |
2021-02-01 | $130,975 (-8.9%) | $218,215 (8.3%) | 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 | $167,000 (1.2%) | $234,189 (3.8%) | 0.38 | 465 |
2022-06-01 | $177,450 (17.4%) | $238,591 (7.7%) | 0.40 | 538 |
2022-07-01 | $189,999 (46.2%) | $246,381 (24.7%) | 0.43 | 558 |
2022-08-01 | $192,450 (49.5%) | $255,442 (31.0%) | 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 (33.2%) | $269,602 (15.1%) | 0.50 | 477 |
2023-06-01 | $234,950 (32.4%) | $275,343 (15.4%) | 0.53 | 514 |
2023-07-01 | $250,000 (31.6%) | $293,496 (19.1%) | 0.57 | 534 |
2023-08-01 | $240,450 (24.9%) | $292,502 (14.5%) | 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 |
Davenport's median listing price comes in at 56% of the national average.
Davenport's average listing price for 2023-10-01 was $288,442, a difference of $33,965 (13.4%) versus the prior year and $-4,426 versus the prior month.
For the 2023-10-01 period, Davenport had 604 MLS listings, a difference of 36 listings (6%) versus the prior month and -21 listings (-3%) 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 | 1,565 sqft |
2018-05-01 | 45 days | 1,546 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 | 1,488 sqft |
2018-11-01 | 59 days | 1,474 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 | 1,717 sqft |
2019-08-01 | 54 days | 1,749 sqft |
2019-09-01 | 58 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 | 1,592 sqft |
2021-01-01 | 66 days | 1,565 sqft |
2021-02-01 | 63 days | 1,592 sqft |
2021-03-01 | 53 days | 1,589 sqft |
2021-04-01 | 41 days | 1,591 sqft |
2021-05-01 | 34 days | 1,596 sqft |
2021-06-01 | 28 days | 1,541 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 | 1,498 sqft |
2021-11-01 | 56 days | 1,515 sqft |
2021-12-01 | 65 days | 1,481 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 | 1,571 sqft |
2022-06-01 | 37 days | 1,584 sqft |
2022-07-01 | 38 days | 1,622 sqft |
2022-08-01 | 43 days | 1,616 sqft |
2022-09-01 | 42 days | 1,603 sqft |
2022-10-01 | 43 days | 1,570 sqft |
2022-11-01 | 48 days | 1,557 sqft |
2022-12-01 | 59 days | 1,545 sqft |
2023-01-01 | 71 days | 1,550 sqft |
2023-02-01 | 62 days | 1,506 sqft |
2023-03-01 | 47 days | 1,500 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 | 1,679 sqft |
2023-10-01 | 41 days | 1,686 sqft |
Davenport's median square footage for active listings during the 2023-10-01 period was 1,686 sqft. One year prior, the average listing was 1,570 sqft.