Dubuque FHA Loan Rates, Closing Costs & Stats

DUBUQUE, IA

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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.

    Dubuque's 29 lenders originated 85 FHA loans during 2023. The total origination value was $14,985,000, with an average FHA loan value of $176,294.

    Dubuque FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Dubuque averaged 6.34% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    Dubuque's average FHA mortgage closing costs are $6,065.

    The average rate for the prior week (2024-04-12) was 6.33% and one month ago for the week of 2024-03-15, the average rate was 6.3%.

    The average rate one year ago was 5.82%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.66%.

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

    Dubuque 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 Dubuque level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GREENSTATE CREDIT UNION 20 5.88% $5,233
    QUICKEN LOANS, LLC 13 6.34% $8,952
    MOVEMENT MORTGAGE, LLC 11 6.66% $7,612
    BROKER SOLUTIONS, INC. 3 6.92% $6,976
    PENNYMAC LOAN SERVICES, LLC 3 6.38% $6,628
    CARDINAL FINANCIAL 2 6.00% $9,214
    CROSSCOUNTRY MORTGAGE, LLC 2 6.72% $9,391
    Servion, Inc. 2 6.94% $6,048
    TOWNE MORTGAGE COMPANY 2 6.06% $9,414
    UNITED WHOLESALE MORTGAGE, LLC 2 6.06% $8,232
    U.S. Bank 2 7.06% $6,080
    NBKC BANK 1 6.63% $7,420
    NEWREZ LLC 1 6.75% $10,140
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.75% $9,067
    The Federal Savings Bank 1 6.75% $7,488
    VERITAS FUNDING, LLC 1 6.63% $16,735
    Wells Fargo Bank 1 6.63% $6,845
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $9,886
    ZILLOW HOME LOANS, LLC 1 6.75% $9,685
    Bank of England 1 5.63% $9,717
    ENDEAVOR CAPITAL, LLC. 1 7.13% $7,622
    GERSHMAN INVESTMENT CORP. 1 6.25% $6,552
    GUILD MORTGAGE COMPANY 1 6.63% $6,733
    HOMESERVICES LENDING, LLC 1 7.25% $6,596
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $10,112
    LIBERTY HOME MORTGAGE CORPORATION 1 6.25% $9,883
    LOANDEPOT.COM, LLC 1 6.25% $12,468
    MEMBER FIRST MORTGAGE, LLC 1 6.63% $4,100
    Mr. Cooper ( Nationstar Mortgage ) 1 6.75% $5,241

    The top Dubuque FHA lender as defined by loan originations is GREENSTATE CREDIT UNION, with 20 FHA loans originated. Their average total fees are $5,233, which is $3,720 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Dubuque FHA lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION ($5,233), MOVEMENT MORTGAGE, LLC ($7,612), QUICKEN LOANS, LLC ($8,952), .

    The lowest rate Dubuque FHA lenders (with over 10 loans originated) are GREENSTATE CREDIT UNION (5.88%), QUICKEN LOANS, LLC (6.34%), MOVEMENT MORTGAGE, LLC (6.66%), .

    Dubuque FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    DUBUQUE, IA DUBUQUE 2022 $420,680 $538,650 $651,050 $809,150
    DUBUQUE, IA DUBUQUE 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Dubuque (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 $244,700 (22.4%) $263,530 (9.2%) 0.00 208
    2018-02-01 $248,975 (14.7%) $267,697 (6.8%) 0.00 204
    2018-03-01 $269,900 (22.6%) $279,528 (11.2%) 0.00 195
    2018-04-01 $263,650 (19.9%) $278,145 (7.5%) 0.00 209
    2018-05-01 $251,425 (9.4%) $294,135 (12.6%) 0.00 227
    2018-06-01 $264,500 (13.8%) $301,637 (13.4%) 0.00 235
    2018-07-01 $272,125 (23.8%) $308,515 (18.4%) 0.00 243
    2018-08-01 $269,450 (14.8%) $313,476 (17.9%) 0.00 259
    2018-09-01 $257,000 (7.1%) $304,131 (17.0%) 0.00 271
    2018-10-01 $239,450 (0.8%) $293,142 (14.5%) 0.00 276
    2018-11-01 $232,225 (-1.2%) $299,345 (16.3%) 0.00 248
    2018-12-01 $244,900 (4.2%) $301,365 (15.5%) 0.00 202
    2019-01-01 $242,675 (-0.8%) $301,811 (14.5%) 0.00 179
    2019-02-01 $260,250 (4.5%) $311,719 (16.4%) 0.00 174
    2019-03-01 $261,100 (-3.3%) $316,739 (13.3%) 0.00 171
    2019-04-01 $256,700 (-2.6%) $315,914 (13.6%) 0.00 176
    2019-05-01 $279,900 (11.3%) $323,560 (10.0%) 0.00 196
    2019-06-01 $299,900 (13.4%) $332,727 (10.3%) 0.00 215
    2019-07-01 $296,250 (8.9%) $336,596 (9.1%) 0.00 229
    2019-08-01 $279,027 (3.6%) $317,022 (1.1%) 0.00 239
    2019-09-01 $262,643 (2.2%) $300,611 (-1.2%) 0.00 240
    2019-10-01 $256,720 (7.2%) $292,573 (-0.2%) 0.00 240
    2019-11-01 $260,000 (12.0%) $315,898 (5.5%) 0.00 211
    2019-12-01 $259,925 (6.1%) $308,345 (2.3%) 0.00 198
    2020-01-01 $262,425 (8.1%) $320,024 (6.0%) 0.00 173
    2020-02-01 $274,900 (5.6%) $322,711 (3.5%) 0.00 169
    2020-03-01 $278,675 (6.7%) $328,664 (3.8%) 0.00 181
    2020-04-01 $297,175 (15.8%) $338,603 (7.2%) 0.00 168
    2020-05-01 $310,950 (11.1%) $339,209 (4.8%) 0.00 162
    2020-06-01 $319,900 (6.7%) $357,498 (7.4%) 0.00 153
    2020-07-01 $303,000 (2.3%) $347,671 (3.3%) 0.00 137
    2020-08-01 $289,000 (3.6%) $336,056 (6.0%) 0.00 143
    2020-09-01 $285,325 (8.6%) $341,891 (13.7%) 0.00 133
    2020-10-01 $274,900 (7.1%) $330,321 (12.9%) 0.00 126
    2020-11-01 $295,450 (13.6%) $346,282 (9.6%) 0.00 112
    2020-12-01 $307,475 (18.3%) $358,003 (16.1%) 0.00 99
    2021-01-01 $298,000 (13.6%) $362,876 (13.4%) 0.00 92
    2021-02-01 $346,000 (25.9%) $408,050 (26.4%) 0.00 71
    2021-03-01 $319,675 (14.7%) $389,238 (18.4%) 0.00 73
    2021-04-01 $389,225 (31.0%) $435,705 (28.7%) 0.00 74
    2021-05-01 $350,000 (12.6%) $414,188 (22.1%) 0.00 85
    2021-06-01 $287,500 (-10.1%) $366,558 (2.5%) 0.00 92
    2021-07-01 $258,500 (-14.7%) $339,264 (-2.4%) 0.00 102
    2021-08-01 $270,500 (-6.4%) $345,280 (2.7%) 0.00 101
    2021-09-01 $265,500 (-7.0%) $331,217 (-3.1%) 0.00 115
    2021-10-01 $279,900 (1.8%) $345,289 (4.5%) 0.00 120
    2021-11-01 $286,575 (-3.0%) $346,461 (0.1%) 0.00 110
    2021-12-01 $318,000 (3.4%) $357,517 (-0.1%) 0.00 81
    2022-01-01 $366,875 (23.1%) $359,135 (-1.0%) 0.00 57
    2022-02-01 $383,363 (10.8%) $363,792 (-10.9%) 0.00 65
    2022-03-01 $341,372 (6.8%) $353,831 (-9.1%) 0.00 75
    2022-04-01 $378,900 (-2.7%) $363,905 (-16.5%) 0.00 83
    2022-05-01 $384,900 (10.0%) $381,303 (-7.9%) 0.00 97
    2022-06-01 $355,875 (23.8%) $360,810 (-1.6%) 0.00 115
    2022-07-01 $349,900 (35.4%) $353,130 (4.1%) 0.00 125
    2022-08-01 $311,888 (15.3%) $352,379 (2.1%) 0.00 123
    2022-09-01 $299,200 (12.7%) $343,251 (3.6%) 0.00 133
    2022-10-01 $297,000 (6.1%) $334,647 (-3.1%) 0.00 142
    2022-11-01 $315,799 (10.2%) $346,984 (0.2%) 0.00 151
    2022-12-01 $329,900 (3.7%) $365,840 (2.3%) 0.00 121
    2023-01-01 $369,900 (0.8%) $386,082 (7.5%) 0.00 95
    2023-02-01 $386,850 (0.9%) $413,016 (13.5%) 0.00 91
    2023-03-01 $366,225 (7.3%) $402,045 (13.6%) 0.00 94
    2023-04-01 $375,000 (-1.0%) $399,828 (9.9%) 0.00 100
    2023-05-01 $404,100 (5.0%) $436,823 (14.6%) 0.00 99
    2023-06-01 $388,725 (9.2%) $432,653 (19.9%) 0.00 104
    2023-07-01 $374,900 (7.1%) $420,806 (19.2%) 0.00 94
    2023-08-01 $347,874 (11.5%) $402,991 (14.4%) 0.00 102
    2023-09-01 $305,000 (1.9%) $348,468 (1.5%) 0.00 134
    2023-10-01 $310,750 (4.6%) $354,569 (6.0%) 0.00 139
    2023-11-01 $313,500 (-0.7%) $350,762 (1.1%) 0.00 129
    2023-12-01 $304,500 (-7.7%) $345,059 (-5.7%) 0.00 124
    2024-01-01 $295,500 (-20.1%) $339,920 (-12.0%) 0.00 114
    2024-02-01 $262,500 (-32.1%) $336,185 (-18.6%) 0.00 116
    2024-03-01 $308,750 (-15.7%) $346,666 (-13.8%) 0.00 125
    Dubuque's median listing price for 2024-03-01 was $308,750, a difference of $-57,475 (-15.7%) versus the prior year and $46,250 versus the prior month.

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

    Dubuque's average listing price for 2024-03-01 was $346,666, a difference of $-55,379 (-13.8%) versus the prior year and $10,481 versus the prior month.

    For the 2024-03-01 period, Dubuque had 125 MLS listings, a difference of 9 listings (8%) versus the prior month and 31 listings (33%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Dubuque (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,007 sqft
    2018-02-01 0 days 2,038 sqft
    2018-03-01 0 days 2,087 sqft
    2018-04-01 0 days 2,251 sqft
    2018-05-01 0 days 2,205 sqft
    2018-06-01 0 days 2,198 sqft
    2018-07-01 0 days 2,250 sqft
    2018-08-01 0 days 2,331 sqft
    2018-09-01 0 days 2,264 sqft
    2018-10-01 0 days 2,149 sqft
    2018-11-01 0 days 2,072 sqft
    2018-12-01 0 days 2,022 sqft
    2019-01-01 0 days 1,981 sqft
    2019-02-01 0 days 2,008 sqft
    2019-03-01 0 days 2,092 sqft
    2019-04-01 0 days 2,146 sqft
    2019-05-01 0 days 2,188 sqft
    2019-06-01 0 days 2,306 sqft
    2019-07-01 0 days 2,245 sqft
    2019-08-01 0 days 2,182 sqft
    2019-09-01 0 days 2,111 sqft
    2019-10-01 0 days 2,074 sqft
    2019-11-01 0 days 2,199 sqft
    2019-12-01 0 days 2,072 sqft
    2020-01-01 0 days 1,941 sqft
    2020-02-01 0 days 1,995 sqft
    2020-03-01 0 days 2,182 sqft
    2020-04-01 0 days 2,201 sqft
    2020-05-01 0 days 2,221 sqft
    2020-06-01 0 days 2,300 sqft
    2020-07-01 0 days 2,324 sqft
    2020-08-01 0 days 2,214 sqft
    2020-09-01 0 days 2,227 sqft
    2020-10-01 0 days 2,200 sqft
    2020-11-01 0 days 2,188 sqft
    2020-12-01 0 days 2,146 sqft
    2021-01-01 0 days 2,061 sqft
    2021-02-01 0 days 2,280 sqft
    2021-03-01 0 days 2,261 sqft
    2021-04-01 0 days 2,838 sqft
    2021-05-01 0 days 2,256 sqft
    2021-06-01 0 days 2,032 sqft
    2021-07-01 0 days 1,999 sqft
    2021-08-01 0 days 1,976 sqft
    2021-09-01 0 days 1,856 sqft
    2021-10-01 0 days 1,989 sqft
    2021-11-01 0 days 2,135 sqft
    2021-12-01 0 days 1,991 sqft
    2022-01-01 0 days 1,988 sqft
    2022-02-01 0 days 1,949 sqft
    2022-03-01 0 days 1,884 sqft
    2022-04-01 0 days 1,968 sqft
    2022-05-01 0 days 1,939 sqft
    2022-06-01 0 days 1,989 sqft
    2022-07-01 0 days 1,923 sqft
    2022-08-01 0 days 1,926 sqft
    2022-09-01 0 days 2,089 sqft
    2022-10-01 0 days 2,054 sqft
    2022-11-01 0 days 2,111 sqft
    2022-12-01 0 days 2,010 sqft
    2023-01-01 0 days 2,115 sqft
    2023-02-01 0 days 2,273 sqft
    2023-03-01 0 days 2,202 sqft
    2023-04-01 0 days 2,313 sqft
    2023-05-01 0 days 2,603 sqft
    2023-06-01 0 days 2,448 sqft
    2023-07-01 0 days 2,271 sqft
    2023-08-01 0 days 2,044 sqft
    2023-09-01 0 days 1,975 sqft
    2023-10-01 0 days 1,968 sqft
    2023-11-01 0 days 1,916 sqft
    2023-12-01 0 days 1,841 sqft
    2024-01-01 0 days 1,890 sqft
    2024-02-01 0 days 1,803 sqft
    2024-03-01 0 days 1,773 sqft
    Dubuque's median listing age (time on market) for 2024-03-01 was 0 days.

    Dubuque's median square footage for active listings during the 2024-03-01 period was 1,773 sqft. One year prior, the average listing was 2,202 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).