Davenport FHA Loan Rates, Closing Costs & Stats

DAVENPORT-MOLINE-ROCK ISLAND, IA-IL

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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.

    Davenport's 75 lenders originated 802 FHA loans during 2024. The total origination value was $145,720,000, with an average FHA loan value of $181,696.

    Davenport FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Davenport averaged 6.36% for the week of 2025-05-09, compared to the national average (all FHA variants) of 6.477% for the same period.

    Davenport's average FHA mortgage closing costs are $5,633.

    The average rate for the prior week (2025-05-02) was 6.71% and one month ago for the week of 2025-04-04, the average rate was 6.54%.

    The average rate one year ago was 6.76%.

    For refis of the same type during the week of 2025-05-09, the average rate was 6.34%.

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

    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.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    BROKER SOLUTIONS, INC. 88 6.71% $8,533
    QUICKEN LOANS, LLC 67 6.46% $8,355
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 57 6.71% $7,231
    RUHL MORTGAGE, LLC 44 6.34% $5,013
    HOMESIDE FINANCIAL, LLC 44 7.02% $8,809
    CROSSCOUNTRY MORTGAGE, LLC 43 6.78% $7,434
    LOANDEPOT.COM, LLC 36 6.77% $8,776
    GREENSTATE CREDIT UNION 32 5.87% $5,717
    Flanagan State Bank 19 6.45% $7,769
    FREEDOM MORTGAGE CORPORATION 17 6.67% $7,580
    PLAZA HOME MORTGAGE, INC. 16 6.91% $6,457
    UNITED WHOLESALE MORTGAGE, LLC 15 6.37% $8,835
    PENNYMAC LOAN SERVICES, LLC 13 6.25% $6,440
    Paramount Residential Mortgage Group, Inc. 13 6.05% $8,143
    SUCCESS MORTGAGE PARTNERS, INC. 11 6.91% $9,617
    CALCON MUTUAL MORTGAGE LLC 11 6.63% $6,576
    American Bank and Trust Company 11 6.56% $6,341
    Plains Commerce Bank 11 6.82% $5,587
    NEWREZ LLC 10 6.58% $6,909
    PLANET HOME LENDING, LLC 8 6.59% $8,138
    CARDINAL FINANCIAL 8 7.06% $9,130
    AMERICAN FINANCIAL RESOURCES, INC. 8 7.30% $7,157
    MICHIGAN MUTUAL, INC. 8 6.20% $5,624
    AXIA FINANCIAL, LLC 8 7.05% $7,617
    Fortress Bank 7 6.38% $5,168
    LAKEVIEW LOAN SERVICING, LLC 6 6.67% $7,812
    Old National Bank 6 5.96% $6,840
    First Federal Bank 6 6.35% $8,189
    GUILD MORTGAGE COMPANY 5 5.18% $4,348
    RESIDENTIAL MORTGAGE NETWORK, INC. 5 6.48% $6,291
    Servion, Inc. 4 6.94% $4,615
    Carrington Mortgage Services, LLC 4 6.50% $7,939
    ENDEAVOR CAPITAL, LLC. 4 6.00% $8,409
    FLAT BRANCH MORTGAGE, INC. 4 6.66% $5,749
    GERSHMAN INVESTMENT CORP. 4 6.28% $5,278
    Mortgage Research Center, LLC 4 6.97% $4,520
    MOVEMENT MORTGAGE, LLC 4 6.44% $7,408
    PHH Mortgage Corporation 4 6.69% $8,506
    ZILLOW HOME LOANS, LLC 3 6.71% $7,144
    Mr. Cooper ( Nationstar Mortgage ) 3 6.21% $11,368
    Equity Prime Mortgage LLC 3 7.92% $5,592
    U.S. Bank 3 6.50% $8,012
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.33% $11,804
    AMERISAVE MORTGAGE CORPORATION 3 5.88% $10,419
    GUARANTEED RATE, INC. 3 6.48% $6,373
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.67% $5,608
    FIRST STATE MORTGAGE SERVICES, LLC 2 6.88% $4,849
    Barrington Bank & Trust Company, N.A. 2 7.25% $6,399
    ROYAL UNITED MORTGAGE LLC 2 6.56% $7,273
    ABSOLUTE HOME MORTGAGE CORPORATION 2 7.00% $10,481
    CANOPY MORTGAGE, LLC 2 7.31% $6,933
    TruHome Solutions, LLC 2 6.75% $5,724
    Flagstar Bank, FSB 2 6.30% $5,647
    RANLIFE, INC. 1 6.25% $8,069
    Texana Bank 1 7.63% $5,070
    The Federal Savings Bank 1 6.25% $21,073
    The Huntington National Bank 1 6.88% $5,775
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.99% $9,905
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.75% $4,081
    HOMESERVICES LENDING, LLC 1 6.63% $9,064
    CMG MORTGAGE, INC. 1 7.13% $7,226
    LIBERTY HOME MORTGAGE CORPORATION 1 6.75% $18,281
    Great Southern Bank 1 6.25% $5,286
    Wells Fargo Bank 1 6.38% $6,390
    M&T Bank 1 6.25% $6,396
    NETWORK CAPITAL FUNDING CORPORATION 1 5.63% $14,316
    NexBank 1 6.75% $8,825
    NEXERA HOLDING LLC 1 5.75% $7,702
    First Mid Bank & Trust 1 6.25% $4,700
    OPEN MORTGAGE, LLC 1 5.75% $18,282
    EMM LOANS LLC 1 5.63% $9,343
    GUARANTEED RATE AFFINITY, LLC 1 6.25% $7,104
    CIBM Bank 1 7.38% $4,711
    CHARTER WEST BANK 1 6.50% $8,321
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $4,272

    The top Davenport FHA lender as defined by loan originations is BROKER SOLUTIONS, INC., with 88 FHA loans originated. Their average total fees are $8,533, which is $178 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Davenport FHA lenders (with over 10 loans originated) are RUHL MORTGAGE, LLC ($5,013), Plains Commerce Bank ($5,587), GREENSTATE CREDIT UNION ($5,717), American Bank and Trust Company ($6,341) and PENNYMAC LOAN SERVICES, LLC ($6,440).

    The lowest rate Davenport FHA lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION (5.87%), Paramount Residential Mortgage Group, Inc. (6.05%), PENNYMAC LOAN SERVICES, LLC (6.25%), RUHL MORTGAGE, LLC (6.34%) and UNITED WHOLESALE MORTGAGE, LLC (6.37%).

    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. Louis
    Date 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%) $214,600 (-5.1%) 0.48 1,311
    2019-07-01 $154,850 (-3.8%) $213,393 (-3.7%) 0.48 1,331
    2019-08-01 $153,609 (-6.3%) $211,445 (-5.4%) 0.49 1,391
    2019-09-01 $151,523 (-5.2%) $210,130 (-4.5%) 0.48 1,429
    2019-10-01 $149,900 (-3.3%) $209,254 (-2.5%) 0.48 1,459
    2019-11-01 $149,900 (-0.9%) $206,800 (-2.2%) 0.49 1,437
    2019-12-01 $145,500 (-2.9%) $201,383 (-2.3%) 0.49 1,357
    2020-01-01 $144,888 (-3.1%) $202,229 (-2.0%) 0.48 1,290
    2020-02-01 $144,000 (-3.3%) $202,853 (-2.4%) 0.47 1,199
    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 $179,970 (16.1%) $231,759 (8.0%) 0.53 932
    2020-07-01 $181,923 (17.5%) $236,031 (10.6%) 0.53 892
    2020-08-01 $170,000 (10.7%) $231,493 (9.5%) 0.49 864
    2020-09-01 $176,800 (16.7%) $232,897 (10.8%) 0.51 832
    2020-10-01 $149,900 (0.0%) $218,282 (4.3%) 0.43 823
    2020-11-01 $142,500 (-4.9%) $213,129 (3.1%) 0.42 812
    2020-12-01 $141,225 (-2.9%) $212,768 (5.7%) 0.42 737
    2021-01-01 $131,950 (-8.9%) $208,295 (3.0%) 0.39 623
    2021-02-01 $130,975 (-9.1%) $218,215 (7.6%) 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 (-16.0%) $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 $245,675 (10.4%) $311,877 (15.7%) 0.56 547
    2024-06-01 $235,000 (0.0%) $305,386 (10.9%) 0.53 579
    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%) 0.47 805
    2024-10-01 $196,950 (-17.3%) $274,834 (-4.7%) 0.46 829
    2024-11-01 $194,950 (-16.7%) $269,011 (-6.7%) 0.47 877
    2024-12-01 $199,575 (-11.3%) $273,821 (-2.8%) 0.50 832
    2025-01-01 $199,950 (-8.3%) $278,120 (-0.3%) 0.50 752
    2025-02-01 $199,900 (-5.4%) $277,836 (-1.1%) 0.49 686
    2025-03-01 $210,000 (-1.2%) $290,606 (-0.3%) 0.49 680
    2025-04-01 $225,750 (-0.4%) $293,221 (-3.0%) 0.52 660
    Davenport's median listing price for 2025-04-01 was $225,750, a difference of $-847 (-0.4%) versus the prior year and $15,750 versus the prior month.

    Davenport's median listing price comes in at 52% of the national average.

    Davenport's average listing price for 2025-04-01 was $293,221, a difference of $-8,927 (-3.0%) versus the prior year and $2,615 versus the prior month.

    For the 2025-04-01 period, Davenport had 660 MLS listings, a difference of -20 listings (-3%) versus the prior month and 120 listings (22%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Davenport (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 73 days 1,510 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 1,488 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 51 days 1,716 sqft
    2019-08-01 54 days 1,749 sqft
    2019-09-01 59 days 1,752 sqft
    2019-10-01 61 days 1,755 sqft
    2019-11-01 63 days 1,697 sqft
    2019-12-01 72 days 1,654 sqft
    2020-01-01 80 days 1,637 sqft
    2020-02-01 82 days 1,608 sqft
    2020-03-01 73 days 1,611 sqft
    2020-04-01 72 days 1,664 sqft
    2020-05-01 61 days 1,698 sqft
    2020-06-01 54 days 1,750 sqft
    2020-07-01 52 days 1,739 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 1,592 sqft
    2021-03-01 53 days 1,590 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 1,496 sqft
    2021-11-01 56 days 1,514 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 1,578 sqft
    2022-06-01 37 days 1,587 sqft
    2022-07-01 38 days 1,624 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 1,556 sqft
    2022-12-01 59 days 1,546 sqft
    2023-01-01 71 days 1,549 sqft
    2023-02-01 62 days 1,504 sqft
    2023-03-01 47 days 1,498 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 1,685 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 40 days 1,681 sqft
    2024-06-01 39 days 1,700 sqft
    2024-07-01 38 days 1,725 sqft
    2024-08-01 38 days 1,711 sqft
    2024-09-01 41 days 1,691 sqft
    2024-10-01 42 days 1,664 sqft
    2024-11-01 46 days 1,639 sqft
    2024-12-01 52 days 1,616 sqft
    2025-01-01 61 days 1,601 sqft
    2025-02-01 65 days 1,576 sqft
    2025-03-01 51 days 1,584 sqft
    2025-04-01 38 days 1,607 sqft
    Davenport's median listing age (time on market) for 2025-04-01 was 38 days. This is -12% shorter than the same period one year ago.

    Davenport's median square footage for active listings during the 2025-04-01 period was 1,607 sqft. One year prior, the average listing was 1,660 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).