Eau Claire FHA Loan Rates, Closing Costs & Stats
EAU CLAIRE, WI
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.
Eau Claire's 60 lenders originated 222 FHA loans during 2022. The total origination value was $47,680,000, with an average FHA loan value of $214,775.
Eau Claire FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Eau Claire
averaged
-0.34%
for the week of 2023-06-02, compared to the national average (all FHA variants) of
0% for the same period.
Eau Claire's average FHA mortgage closing costs are $6,503.
The average rate for the prior week (2023-05-26) was
5.99% and
one month ago for the week of 2023-04-28, the
average rate was 5.64%.
The average rate one year ago was 4.6%.
For refis of the same type during the week of 2023-06-02, the average rate
was -1.65%.
Eau Claire 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 Eau Claire level.
The top Eau Claire FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
33 FHA loans originated. Their average total fees are
$9,937, which is $858
higher than the next largest lender,
FINANCE OF AMERICA MORTGAGE LLC.
The lowest fee Eau Claire FHA lenders (with over 10 loans originated) are
FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($7,689), FINANCE OF AMERICA MORTGAGE LLC ($9,078), Prosperity Home Mortgage, LLC ($9,901), QUICKEN LOANS, LLC ($9,937) and .
The lowest rate Eau Claire FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (4.25%), FINANCE OF AMERICA MORTGAGE LLC (4.92%), Prosperity Home Mortgage, LLC (5.04%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (5.69%) and .
Eau Claire FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
EAU CLAIRE, WI | CHIPPEWA | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
EAU CLAIRE, WI | EAU CLAIRE | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
EAU CLAIRE, WI | CHIPPEWA | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
EAU CLAIRE, WI | EAU CLAIRE | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Eau Claire (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 | $233,900 (6.4%) | $285,151 (2.8%) | 0.87 | 299 |
2018-02-01 | $244,900 (4.3%) | $294,674 (-0.1%) | 0.89 | 308 |
2018-03-01 | $248,900 (2.4%) | $288,016 (-4.2%) | 0.87 | 358 |
2018-04-01 | $244,900 (2.1%) | $285,823 (-7.6%) | 0.83 | 363 |
2018-05-01 | $249,900 (0.0%) | $289,666 (-8.2%) | 0.83 | 381 |
2018-06-01 | $258,900 (3.8%) | $302,409 (-2.2%) | 0.86 | 378 |
2018-07-01 | $252,400 (1.0%) | $297,157 (-4.1%) | 0.84 | 432 |
2018-08-01 | $249,900 (2.0%) | $292,739 (-3.1%) | 0.84 | 483 |
2018-09-01 | $239,900 (2.1%) | $289,875 (-2.6%) | 0.81 | 474 |
2018-10-01 | $232,688 (1.3%) | $283,338 (-4.3%) | 0.79 | 481 |
2018-11-01 | $230,194 (2.1%) | $283,529 (-3.2%) | 0.78 | 443 |
2018-12-01 | $234,900 (3.3%) | $286,277 (5.1%) | 0.81 | 359 |
2019-01-01 | $239,650 (2.5%) | $290,113 (1.7%) | 0.83 | 335 |
2019-02-01 | $253,050 (3.3%) | $307,584 (4.4%) | 0.86 | 323 |
2019-03-01 | $259,493 (4.3%) | $325,235 (12.9%) | 0.85 | 315 |
2019-04-01 | $259,243 (5.9%) | $320,381 (12.1%) | 0.82 | 329 |
2019-05-01 | $249,900 (0.0%) | $311,097 (7.4%) | 0.78 | 348 |
2019-06-01 | $249,900 (-3.5%) | $302,368 (0.0%) | 0.78 | 390 |
2019-07-01 | $243,950 (-3.4%) | $303,098 (2.0%) | 0.76 | 407 |
2019-08-01 | $242,245 (-3.1%) | $305,880 (4.5%) | 0.77 | 412 |
2019-09-01 | $238,114 (-0.7%) | $303,516 (4.7%) | 0.76 | 422 |
2019-10-01 | $234,900 (1.0%) | $299,117 (5.6%) | 0.76 | 443 |
2019-11-01 | $229,900 (-0.1%) | $299,206 (5.5%) | 0.75 | 433 |
2019-12-01 | $225,675 (-3.9%) | $303,351 (6.0%) | 0.75 | 375 |
2020-01-01 | $229,900 (-4.1%) | $307,970 (6.2%) | 0.77 | 306 |
2020-02-01 | $259,900 (2.7%) | $329,594 (7.2%) | 0.85 | 282 |
2020-03-01 | $261,463 (0.8%) | $331,988 (2.1%) | 0.82 | 304 |
2020-04-01 | $262,519 (1.3%) | $323,208 (0.9%) | 0.82 | 335 |
2020-05-01 | $270,400 (8.2%) | $326,960 (5.1%) | 0.82 | 325 |
2020-06-01 | $279,375 (11.8%) | $345,963 (14.4%) | 0.82 | 305 |
2020-07-01 | $286,775 (17.6%) | $355,011 (17.1%) | 0.83 | 270 |
2020-08-01 | $274,900 (13.5%) | $341,231 (11.6%) | 0.79 | 264 |
2020-09-01 | $262,500 (10.2%) | $323,279 (6.5%) | 0.75 | 282 |
2020-10-01 | $255,000 (8.6%) | $313,304 (4.7%) | 0.73 | 238 |
2020-11-01 | $249,450 (8.5%) | $300,119 (0.3%) | 0.73 | 242 |
2020-12-01 | $249,900 (10.7%) | $303,196 (-0.1%) | 0.74 | 209 |
2021-01-01 | $259,400 (12.8%) | $335,312 (8.9%) | 0.77 | 140 |
2021-02-01 | $272,050 (4.7%) | $352,700 (7.0%) | 0.79 | 136 |
2021-03-01 | $266,150 (1.8%) | $380,747 (14.7%) | 0.76 | 121 |
2021-04-01 | $272,400 (3.8%) | $381,430 (18.0%) | 0.74 | 127 |
2021-05-01 | $274,950 (1.7%) | $349,948 (7.0%) | 0.73 | 157 |
2021-06-01 | $284,900 (2.0%) | $349,821 (1.1%) | 0.75 | 178 |
2021-07-01 | $287,450 (0.2%) | $348,141 (-1.9%) | 0.76 | 206 |
2021-08-01 | $299,900 (9.1%) | $347,883 (2.0%) | 0.80 | 222 |
2021-09-01 | $299,925 (14.3%) | $355,587 (10.0%) | 0.80 | 256 |
2021-10-01 | $279,900 (9.8%) | $337,645 (7.8%) | 0.75 | 247 |
2021-11-01 | $282,450 (13.2%) | $359,647 (19.8%) | 0.76 | 216 |
2021-12-01 | $298,175 (19.3%) | $360,246 (18.8%) | 0.81 | 186 |
2022-01-01 | $289,900 (11.8%) | $349,399 (4.2%) | 0.78 | 139 |
2022-02-01 | $312,325 (14.8%) | $370,575 (5.1%) | 0.81 | 116 |
2022-03-01 | $326,900 (22.8%) | $400,242 (5.1%) | 0.82 | 118 |
2022-04-01 | $319,900 (17.4%) | $379,819 (-0.4%) | 0.76 | 134 |
2022-05-01 | $333,450 (21.3%) | $394,776 (12.8%) | 0.76 | 171 |
2022-06-01 | $354,200 (24.3%) | $406,406 (16.2%) | 0.79 | 202 |
2022-07-01 | $346,000 (20.4%) | $393,280 (13.0%) | 0.78 | 257 |
2022-08-01 | $364,925 (21.7%) | $413,096 (18.8%) | 0.84 | 246 |
2022-09-01 | $369,900 (23.3%) | $417,447 (17.4%) | 0.86 | 226 |
2022-10-01 | $372,400 (33.1%) | $424,514 (25.7%) | 0.88 | 222 |
2022-11-01 | $357,450 (26.6%) | $406,479 (13.0%) | 0.86 | 224 |
2022-12-01 | $359,900 (20.7%) | $406,062 (12.7%) | 0.89 | 190 |
2023-01-01 | $359,450 (24.0%) | $409,840 (17.3%) | 0.89 | 159 |
2023-02-01 | $332,475 (6.5%) | $407,618 (10.0%) | 0.80 | 140 |
2023-03-01 | $334,950 (2.5%) | $413,482 (3.3%) | 0.79 | 136 |
2023-04-01 | $346,900 (8.4%) | $433,717 (14.2%) | 0.81 | 131 |
2023-05-01 | $382,450 (14.7%) | $467,997 (18.6%) | 0.87 | 143 |
Eau Claire's median listing price comes in at 87% of the national average.
Eau Claire's average listing price for 2023-05-01 was $467,997, a difference of $73,221 (18.6%) versus the prior year and $34,280 versus the prior month.
For the 2023-05-01 period, Eau Claire had 143 MLS listings, a difference of 12 listings (9%) versus the prior month and -28 listings (-16%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Eau Claire (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 118 days | 2,015 sqft |
2018-02-01 | 103 days | 1,964 sqft |
2018-03-01 | 41 days | 2,018 sqft |
2018-04-01 | 45 days | 2,067 sqft |
2018-05-01 | 53 days | 2,029 sqft |
2018-06-01 | 51 days | 2,027 sqft |
2018-07-01 | 48 days | 2,052 sqft |
2018-08-01 | 47 days | 2,036 sqft |
2018-09-01 | 54 days | 1,975 sqft |
2018-10-01 | 61 days | 1,977 sqft |
2018-11-01 | 70 days | 1,876 sqft |
2018-12-01 | 91 days | 1,836 sqft |
2019-01-01 | 97 days | 1,781 sqft |
2019-02-01 | 94 days | 1,941 sqft |
2019-03-01 | 70 days | 2,010 sqft |
2019-04-01 | 51 days | 1,988 sqft |
2019-05-01 | 44 days | 1,830 sqft |
2019-06-01 | 40 days | 1,904 sqft |
2019-07-01 | 49 days | 1,880 sqft |
2019-08-01 | 55 days | 1,816 sqft |
2019-09-01 | 58 days | 1,784 sqft |
2019-10-01 | 58 days | 1,762 sqft |
2019-11-01 | 64 days | 1,745 sqft |
2019-12-01 | 80 days | 1,716 sqft |
2020-01-01 | 89 days | 1,722 sqft |
2020-02-01 | 96 days | 1,796 sqft |
2020-03-01 | 57 days | 1,905 sqft |
2020-04-01 | 51 days | 1,900 sqft |
2020-05-01 | 49 days | 1,965 sqft |
2020-06-01 | 58 days | 2,063 sqft |
2020-07-01 | 62 days | 2,004 sqft |
2020-08-01 | 47 days | 2,034 sqft |
2020-09-01 | 32 days | 1,925 sqft |
2020-10-01 | 40 days | 1,891 sqft |
2020-11-01 | 43 days | 1,785 sqft |
2020-12-01 | 60 days | 1,785 sqft |
2021-01-01 | 72 days | 1,800 sqft |
2021-02-01 | 50 days | 1,854 sqft |
2021-03-01 | 31 days | 1,800 sqft |
2021-04-01 | 25 days | 1,803 sqft |
2021-05-01 | 18 days | 1,668 sqft |
2021-06-01 | 26 days | 1,679 sqft |
2021-07-01 | 26 days | 1,707 sqft |
2021-08-01 | 31 days | 1,909 sqft |
2021-09-01 | 38 days | 1,849 sqft |
2021-10-01 | 45 days | 1,685 sqft |
2021-11-01 | 56 days | 1,692 sqft |
2021-12-01 | 56 days | 1,735 sqft |
2022-01-01 | 66 days | 1,628 sqft |
2022-02-01 | 63 days | 1,672 sqft |
2022-03-01 | 38 days | 1,732 sqft |
2022-04-01 | 23 days | 1,825 sqft |
2022-05-01 | 23 days | 2,047 sqft |
2022-06-01 | 27 days | 2,084 sqft |
2022-07-01 | 30 days | 1,952 sqft |
2022-08-01 | 42 days | 2,136 sqft |
2022-09-01 | 53 days | 2,098 sqft |
2022-10-01 | 48 days | 2,047 sqft |
2022-11-01 | 49 days | 1,994 sqft |
2022-12-01 | 68 days | 2,000 sqft |
2023-01-01 | 78 days | 1,970 sqft |
2023-02-01 | 78 days | 1,834 sqft |
2023-03-01 | 59 days | 1,840 sqft |
2023-04-01 | 36 days | 1,893 sqft |
2023-05-01 | 30 days | 2,122 sqft |
Eau Claire's median square footage for active listings during the 2023-05-01 period was 2,122 sqft. One year prior, the average listing was 2,047 sqft.