Duluth FHA Loan Rates, Closing Costs & Stats

DULUTH, MN-WI

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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.

    Duluth's 64 lenders originated 392 FHA loans during 2024. The total origination value was $81,160,000, with an average FHA loan value of $207,041.

    Duluth FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Duluth averaged 6.92% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

    Duluth's average FHA mortgage closing costs are $6,923.

    The average rate for the prior week (2025-05-16) was 6.75% and one month ago for the week of 2025-04-18, the average rate was 6.87%.

    The average rate one year ago was 7.25%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.74%.

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

    Duluth 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 Duluth level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 58 6.33% $10,035
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 33 7.01% $7,027
    AMERICAN PACIFIC MORTGAGE CORPORATION 22 6.73% $12,091
    BROKER SOLUTIONS, INC. 19 6.90% $10,481
    North Shore Bank of Commerce 16 6.60% $8,009
    UNITED WHOLESALE MORTGAGE, LLC 15 6.09% $11,218
    Regent Financial Group, Inc. 12 6.48% $9,760
    PENNYMAC LOAN SERVICES, LLC 12 6.30% $8,789
    LOANDEPOT.COM, LLC 12 6.20% $11,763
    CROSSCOUNTRY MORTGAGE, LLC 11 6.43% $10,922
    GUILD MORTGAGE COMPANY 11 6.42% $10,126
    EVERETT FINANCIAL, INC. 11 6.93% $11,631
    U.S. Bank 7 6.55% $8,763
    Park State Bank 7 6.02% $8,551
    NEWREZ LLC 6 6.19% $8,840
    Bell Bank 5 6.23% $10,372
    Summit Mortgage Corporation 5 6.98% $9,174
    FREEDOM MORTGAGE CORPORATION 4 7.09% $9,969
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 4 6.88% $11,488
    HOMEBRIDGE FINANCIAL SERVICES, INC. 4 7.06% $11,612
    Paramount Residential Mortgage Group, Inc. 3 7.17% $14,793
    AmeriHome Mortgage Company, LLC 3 6.63% $6,348
    AMERISAVE MORTGAGE CORPORATION 3 6.92% $10,341
    CARDINAL FINANCIAL 3 6.96% $10,511
    Granite Community Bank 3 6.71% $7,370
    AMERICAN FINANCIAL NETWORK, INC. 3 5.75% $12,206
    PREMIER MORTGAGE RESOURCES, L.L.C. 3 7.13% $7,908
    Servion, Inc. 3 7.08% $7,193
    Flagstar Bank, FSB 2 6.63% $6,068
    Ixonia Bank 2 7.13% $8,989
    LAKEVIEW LOAN SERVICING, LLC 2 6.49% $8,268
    Mr. Cooper ( Nationstar Mortgage ) 2 6.38% $13,212
    MUTUAL OF OMAHA MORTGAGE, INC. 2 6.75% $14,611
    Nations Lending Corporation 2 7.25% $7,554
    PLAZA HOME MORTGAGE, INC. 2 6.56% $8,052
    Prosperity Home Mortgage, LLC 2 6.63% $15,961
    Cambria Financial Group, LLC 2 7.06% $11,068
    ZILLOW HOME LOANS, LLC 2 7.00% $8,402
    AMERICAN FINANCING CORPORATION 2 5.81% $9,629
    OCEANSIDE MORTGAGE COMPANY 1 5.63% $5,749
    VILLAGE CAPITAL MORTGAGE 1 6.75% $1,499
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.75% $14,399
    Century Mortgage Company DBA Century Lending Company 1 6.50% $21,732
    PLANET HOME LENDING, LLC 1 6.25% $7,452
    AMERITRUST MORTGAGE CORPORATION 1 6.25% $12,639
    Wells Fargo Bank 1 5.88% $10,524
    Fortress Bank 1 6.75% $9,750
    Carrington Mortgage Services, LLC 1 6.38% $8,757
    FIRST COMMUNITY MORTGAGE, INC. 1 5.99% $16,383
    ROYAL UNITED MORTGAGE LLC 1 7.25% $33,269
    S1L, Inc. 1 6.75% $9,984
    GUARANTEED RATE AFFINITY, LLC 1 6.75% $8,056
    Barrington Bank & Trust Company, N.A. 1 7.25% $7,009
    SUN WEST MORTGAGE COMPANY, INC. 1 6.88% $9,490
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.38% $5,309
    HOMESIDE FINANCIAL, LLC 1 6.87% $11,281
    The Federal Savings Bank 1 6.25% $8,137
    The Huntington National Bank 1 5.88% $9,026
    ENVOY MORTGAGE, LTD 1 6.88% $7,263
    THE MORTGAGE LINK, INC. 1 7.13% $18,240
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 5.75% $9,308
    UNION HOME MORTGAGE CORP. 1 6.63% $4,443
    EMM LOANS LLC 1 6.25% $13,606
    CMG MORTGAGE, INC. 1 6.00% $12,234

    The top Duluth FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 58 FHA loans originated. Their average total fees are $10,035, which is $3,009 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Duluth FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,027), North Shore Bank of Commerce ($8,009), PENNYMAC LOAN SERVICES, LLC ($8,789), Regent Financial Group, Inc. ($9,760) and QUICKEN LOANS, LLC ($10,035).

    The lowest rate Duluth FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.09%), LOANDEPOT.COM, LLC (6.20%), PENNYMAC LOAN SERVICES, LLC (6.30%), QUICKEN LOANS, LLC (6.33%) and GUILD MORTGAGE COMPANY (6.42%).

    Duluth FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    DULUTH, MN-WI CARLTON 2022 $420,680 $538,650 $651,050 $809,150
    DULUTH, MN-WI LAKE 2022 $420,680 $538,650 $651,050 $809,150
    DULUTH, MN-WI ST. LOUIS 2022 $420,680 $538,650 $651,050 $809,150
    DULUTH, MN-WI DOUGLAS 2022 $420,680 $538,650 $651,050 $809,150
    DULUTH, MN-WI CARLTON 2023 $472,030 $604,400 $730,525 $907,900
    DULUTH, MN-WI LAKE 2023 $472,030 $604,400 $730,525 $907,900
    DULUTH, MN-WI ST. LOUIS 2023 $472,030 $604,400 $730,525 $907,900
    DULUTH, MN-WI DOUGLAS 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Duluth (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 $158,900 (6.0%) $240,077 (4.0%) 0.59 1,071
    2018-02-01 $163,450 (7.2%) $248,077 (5.4%) 0.59 1,057
    2018-03-01 $174,900 (7.3%) $264,682 (9.2%) 0.61 1,096
    2018-04-01 $184,950 (9.4%) $271,633 (12.0%) 0.63 1,129
    2018-05-01 $185,000 (4.9%) $274,509 (10.0%) 0.62 1,297
    2018-06-01 $189,000 (5.1%) $269,040 (7.3%) 0.63 1,541
    2018-07-01 $189,000 (5.6%) $267,995 (5.0%) 0.63 1,613
    2018-08-01 $187,500 (7.1%) $263,574 (3.6%) 0.63 1,627
    2018-09-01 $184,900 (5.7%) $258,384 (3.7%) 0.62 1,593
    2018-10-01 $183,000 (7.7%) $259,416 (6.1%) 0.62 1,544
    2018-11-01 $181,250 (13.3%) $256,711 (7.6%) 0.61 1,396
    2018-12-01 $174,900 (9.4%) $252,564 (4.9%) 0.60 1,204
    2019-01-01 $174,100 (9.6%) $265,366 (10.5%) 0.60 979
    2019-02-01 $171,250 (4.8%) $264,272 (6.5%) 0.58 930
    2019-03-01 $189,243 (8.2%) $275,618 (4.1%) 0.62 966
    2019-04-01 $216,200 (16.9%) $287,531 (5.9%) 0.69 1,027
    2019-05-01 $215,000 (16.2%) $289,796 (5.6%) 0.67 1,180
    2019-06-01 $210,250 (11.2%) $284,125 (5.6%) 0.66 1,352
    2019-07-01 $212,000 (12.2%) $285,033 (6.4%) 0.66 1,455
    2019-08-01 $205,155 (9.4%) $279,460 (6.0%) 0.65 1,483
    2019-09-01 $199,386 (7.8%) $272,514 (5.5%) 0.64 1,456
    2019-10-01 $198,041 (8.2%) $267,591 (3.2%) 0.64 1,412
    2019-11-01 $194,950 (7.6%) $263,914 (2.8%) 0.64 1,214
    2019-12-01 $189,900 (8.6%) $264,302 (4.7%) 0.63 997
    2020-01-01 $189,200 (8.7%) $268,590 (1.2%) 0.63 820
    2020-02-01 $204,950 (19.7%) $290,538 (9.9%) 0.67 783
    2020-03-01 $229,250 (21.1%) $311,991 (13.2%) 0.72 803
    2020-04-01 $229,925 (6.4%) $312,086 (8.5%) 0.72 849
    2020-05-01 $229,900 (6.9%) $306,689 (5.8%) 0.70 911
    2020-06-01 $235,450 (12.0%) $312,977 (10.2%) 0.69 945
    2020-07-01 $232,500 (9.7%) $320,270 (12.4%) 0.67 918
    2020-08-01 $230,000 (12.1%) $317,309 (13.5%) 0.66 854
    2020-09-01 $229,425 (15.1%) $313,682 (15.1%) 0.66 778
    2020-10-01 $224,900 (13.6%) $318,185 (18.9%) 0.64 705
    2020-11-01 $217,950 (11.8%) $319,159 (20.9%) 0.64 615
    2020-12-01 $219,700 (15.7%) $326,454 (23.5%) 0.65 521
    2021-01-01 $219,000 (15.8%) $344,481 (28.3%) 0.65 393
    2021-02-01 $224,250 (9.4%) $355,469 (22.4%) 0.65 313
    2021-03-01 $224,725 (-2.0%) $351,535 (12.7%) 0.64 307
    2021-04-01 $235,000 (2.2%) $353,067 (13.1%) 0.64 335
    2021-05-01 $222,500 (-3.2%) $332,337 (8.4%) 0.59 417
    2021-06-01 $215,000 (-8.7%) $321,941 (2.9%) 0.57 522
    2021-07-01 $215,000 (-7.5%) $313,902 (-2.0%) 0.57 544
    2021-08-01 $203,325 (-11.6%) $296,802 (-6.5%) 0.54 531
    2021-09-01 $202,450 (-11.8%) $297,466 (-5.2%) 0.54 504
    2021-10-01 $199,500 (-11.3%) $274,169 (-13.8%) 0.53 475
    2021-11-01 $202,000 (-7.3%) $299,332 (-6.2%) 0.54 380
    2021-12-01 $192,425 (-12.4%) $301,330 (-7.7%) 0.52 295
    2022-01-01 $194,900 (-11.0%) $318,032 (-7.7%) 0.53 255
    2022-02-01 $220,975 (-1.5%) $372,197 (4.7%) 0.57 210
    2022-03-01 $242,600 (8.0%) $400,017 (13.8%) 0.61 204
    2022-04-01 $257,450 (9.6%) $382,671 (8.4%) 0.61 242
    2022-05-01 $262,425 (17.9%) $388,064 (16.8%) 0.60 324
    2022-06-01 $262,450 (22.1%) $372,542 (15.7%) 0.58 401
    2022-07-01 $262,500 (22.1%) $368,254 (17.3%) 0.59 490
    2022-08-01 $252,450 (24.2%) $351,543 (18.4%) 0.58 549
    2022-09-01 $256,250 (26.6%) $354,072 (19.0%) 0.60 539
    2022-10-01 $255,000 (27.8%) $367,661 (34.1%) 0.60 499
    2022-11-01 $252,500 (25.0%) $361,438 (20.8%) 0.61 447
    2022-12-01 $259,000 (34.6%) $369,733 (22.7%) 0.64 388
    2023-01-01 $263,725 (35.3%) $372,323 (17.1%) 0.65 281
    2023-02-01 $277,000 (25.4%) $386,005 (3.7%) 0.67 236
    2023-03-01 $280,450 (15.6%) $395,710 (-1.1%) 0.66 232
    2023-04-01 $289,000 (12.3%) $391,690 (2.4%) 0.67 264
    2023-05-01 $299,950 (14.3%) $406,894 (4.9%) 0.68 330
    2023-06-01 $307,100 (17.0%) $419,159 (12.5%) 0.69 430
    2023-07-01 $314,900 (20.0%) $433,781 (17.8%) 0.72 509
    2023-08-01 $305,000 (20.8%) $424,537 (20.8%) 0.70 547
    2023-09-01 $299,900 (17.0%) $417,521 (17.9%) 0.70 607
    2023-10-01 $278,450 (9.2%) $406,526 (10.6%) 0.66 586
    2023-11-01 $278,000 (10.1%) $406,364 (12.4%) 0.66 539
    2023-12-01 $275,000 (6.2%) $404,708 (9.5%) 0.67 444
    2024-01-01 $249,000 (-5.6%) $400,071 (7.5%) 0.61 361
    2024-02-01 $264,450 (-4.5%) $416,308 (7.9%) 0.64 331
    2024-03-01 $304,950 (8.7%) $427,069 (7.9%) 0.72 336
    2024-04-01 $333,000 (15.2%) $450,800 (15.1%) 0.77 349
    2024-05-01 $369,537 (23.2%) $483,269 (18.8%) 0.84 428
    2024-06-01 $350,000 (14.0%) $458,792 (9.5%) 0.80 523
    2024-07-01 $344,675 (9.5%) $449,727 (3.7%) 0.79 616
    2024-08-01 $329,000 (7.9%) $433,959 (2.2%) 0.77 691
    2024-09-01 $320,000 (6.7%) $415,563 (-0.5%) 0.75 714
    2024-10-01 $300,000 (7.7%) $409,514 (0.7%) 0.71 704
    2024-11-01 $299,000 (7.6%) $401,406 (-1.2%) 0.72 625
    2024-12-01 $287,400 (4.5%) $394,016 (-2.6%) 0.71 506
    2025-01-01 $277,475 (11.4%) $387,811 (-3.1%) 0.69 427
    2025-02-01 $277,500 (4.9%) $400,151 (-3.9%) 0.67 403
    2025-03-01 $299,900 (-1.7%) $434,408 (1.7%) 0.71 379
    2025-04-01 $317,950 (-4.5%) $434,053 (-3.7%) 0.74 419
    Duluth's median listing price for 2025-04-01 was $317,950, a difference of $-15,050 (-4.5%) versus the prior year and $18,050 versus the prior month.

    Duluth's median listing price comes in at 74% of the national average.

    Duluth's average listing price for 2025-04-01 was $434,053, a difference of $-16,747 (-3.7%) versus the prior year and $-355 versus the prior month.

    For the 2025-04-01 period, Duluth had 419 MLS listings, a difference of 40 listings (11%) versus the prior month and 70 listings (20%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Duluth (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 106 days 1,504 sqft
    2018-02-01 107 days 1,528 sqft
    2018-03-01 77 days 1,568 sqft
    2018-04-01 68 days 1,580 sqft
    2018-05-01 58 days 1,571 sqft
    2018-06-01 50 days 1,576 sqft
    2018-07-01 59 days 1,575 sqft
    2018-08-01 66 days 1,577 sqft
    2018-09-01 71 days 1,544 sqft
    2018-10-01 75 days 1,497 sqft
    2018-11-01 86 days 1,500 sqft
    2018-12-01 102 days 1,463 sqft
    2019-01-01 113 days 1,484 sqft
    2019-02-01 126 days 1,500 sqft
    2019-03-01 108 days 1,515 sqft
    2019-04-01 78 days 1,558 sqft
    2019-05-01 52 days 1,584 sqft
    2019-06-01 50 days 1,568 sqft
    2019-07-01 56 days 1,578 sqft
    2019-08-01 63 days 1,547 sqft
    2019-09-01 71 days 1,489 sqft
    2019-10-01 79 days 1,451 sqft
    2019-11-01 94 days 1,444 sqft
    2019-12-01 116 days 1,454 sqft
    2020-01-01 126 days 1,472 sqft
    2020-02-01 130 days 1,477 sqft
    2020-03-01 108 days 1,499 sqft
    2020-04-01 75 days 1,524 sqft
    2020-05-01 68 days 1,536 sqft
    2020-06-01 61 days 1,527 sqft
    2020-07-01 53 days 1,580 sqft
    2020-08-01 54 days 1,568 sqft
    2020-09-01 58 days 1,533 sqft
    2020-10-01 62 days 1,536 sqft
    2020-11-01 67 days 1,476 sqft
    2020-12-01 77 days 1,467 sqft
    2021-01-01 93 days 1,448 sqft
    2021-02-01 105 days 1,464 sqft
    2021-03-01 66 days 1,471 sqft
    2021-04-01 42 days 1,566 sqft
    2021-05-01 33 days 1,568 sqft
    2021-06-01 30 days 1,530 sqft
    2021-07-01 38 days 1,529 sqft
    2021-08-01 49 days 1,445 sqft
    2021-09-01 51 days 1,459 sqft
    2021-10-01 51 days 1,478 sqft
    2021-11-01 57 days 1,503 sqft
    2021-12-01 68 days 1,462 sqft
    2022-01-01 79 days 1,408 sqft
    2022-02-01 67 days 1,630 sqft
    2022-03-01 50 days 1,725 sqft
    2022-04-01 28 days 1,700 sqft
    2022-05-01 26 days 1,612 sqft
    2022-06-01 31 days 1,649 sqft
    2022-07-01 34 days 1,624 sqft
    2022-08-01 39 days 1,575 sqft
    2022-09-01 49 days 1,598 sqft
    2022-10-01 53 days 1,613 sqft
    2022-11-01 57 days 1,582 sqft
    2022-12-01 76 days 1,575 sqft
    2023-01-01 97 days 1,518 sqft
    2023-02-01 99 days 1,596 sqft
    2023-03-01 80 days 1,566 sqft
    2023-04-01 44 days 1,560 sqft
    2023-05-01 31 days 1,624 sqft
    2023-06-01 31 days 1,672 sqft
    2023-07-01 33 days 1,670 sqft
    2023-08-01 41 days 1,684 sqft
    2023-09-01 41 days 1,733 sqft
    2023-10-01 49 days 1,660 sqft
    2023-11-01 58 days 1,608 sqft
    2023-12-01 65 days 1,575 sqft
    2024-01-01 81 days 1,598 sqft
    2024-02-01 79 days 1,602 sqft
    2024-03-01 46 days 1,610 sqft
    2024-04-01 45 days 1,670 sqft
    2024-05-01 40 days 1,753 sqft
    2024-06-01 38 days 1,776 sqft
    2024-07-01 39 days 1,782 sqft
    2024-08-01 43 days 1,730 sqft
    2024-09-01 47 days 1,682 sqft
    2024-10-01 52 days 1,680 sqft
    2024-11-01 59 days 1,678 sqft
    2024-12-01 77 days 1,601 sqft
    2025-01-01 87 days 1,575 sqft
    2025-02-01 87 days 1,591 sqft
    2025-03-01 64 days 1,624 sqft
    2025-04-01 51 days 1,616 sqft
    Duluth's median listing age (time on market) for 2025-04-01 was 51 days. This is 12% longer than the same period one year ago.

    Duluth's median square footage for active listings during the 2025-04-01 period was 1,616 sqft. One year prior, the average listing was 1,670 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).