Gillette FHA Loan Rates, Closing Costs & Stats

Gillette, WY

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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.

    Gillette's 35 lenders originated 217 FHA loans during 2023. The total origination value was $55,965,000, with an average FHA loan value of $257,903.

    Gillette FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Gillette averaged 6.64% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Gillette's average FHA mortgage closing costs are $8,272.

    The average rate for the prior week (2025-02-07) was 6.25% and one month ago for the week of 2025-01-10, the average rate was 6.71%.

    The average rate one year ago was 6.24%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.72%.

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

    Gillette 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 Gillette level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    BAY EQUITY LLC 73 6.39% $10,151
    UNITED WHOLESALE MORTGAGE, LLC 25 6.53% $11,538
    Pinnacle Bank - Wyoming 19 6.24% $9,265
    QUICKEN LOANS, LLC 18 6.34% $11,953
    Unify Home Lending Inc. 14 6.41% $9,335
    CARDINAL FINANCIAL 8 6.47% $13,981
    FREEDOM MORTGAGE CORPORATION 5 6.75% $14,456
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 6.38% $9,447
    BROKER SOLUTIONS, INC. 3 7.00% $12,399
    Equity Prime Mortgage LLC 3 7.25% $11,623
    AMERICAN FINANCIAL NETWORK, INC. 2 7.69% $12,114
    AMERISAVE MORTGAGE CORPORATION 2 5.75% $15,293
    Carrington Mortgage Services, LLC 2 6.13% $13,479
    CROSSCOUNTRY MORTGAGE, LLC 2 6.38% $12,731
    First Interstate Bank 2 6.63% $8,058
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.56% $10,023
    LAKEVIEW LOAN SERVICING, LLC 2 6.25% $13,738
    LOANDEPOT.COM, LLC 2 6.49% $15,747
    NEWREZ LLC 2 5.63% $13,444
    Plains Commerce Bank 2 6.81% $9,748
    Wallick & Volk, Inc. 2 7.50% $5,956
    NATIONWIDE MORTGAGE BANKERS, INC. 1 6.25% $8,308
    UNIVERSAL LENDING CORPORATION 1 6.50% $8,997
    PENNYMAC LOAN SERVICES, LLC 1 5.50% $15,238
    INTERCAP LENDING INC. 1 6.13% $11,439
    Wells Fargo Bank 1 6.13% $11,812
    PLAZA HOME MORTGAGE, INC. 1 7.25% $7,153
    HOMESTAR FINANCIAL CORPORATION 1 6.75% $11,029
    SUMMIT FUNDING, INC. 1 6.13% $1,932
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 5.75% $8,482
    Jonah Bank of Wyoming 1 6.25% $13,297
    UNION HOME MORTGAGE CORP. 1 6.50% $6,171
    DIRECT MORTGAGE, CORP. 1 6.88% $8,391
    MOVEMENT MORTGAGE, LLC 1 7.75% $11,998
    Nations Lending Corporation 1 6.50% $15,022

    The top Gillette FHA lender as defined by loan originations is BAY EQUITY LLC, with 73 FHA loans originated. Their average total fees are $10,151, which is $1,387 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Gillette FHA lenders (with over 10 loans originated) are Pinnacle Bank - Wyoming ($9,265), Unify Home Lending Inc. ($9,335), BAY EQUITY LLC ($10,151), UNITED WHOLESALE MORTGAGE, LLC ($11,538) and QUICKEN LOANS, LLC ($11,953).

    The lowest rate Gillette FHA lenders (with over 10 loans originated) are Pinnacle Bank - Wyoming (6.24%), QUICKEN LOANS, LLC (6.34%), BAY EQUITY LLC (6.39%), Unify Home Lending Inc. (6.41%) and UNITED WHOLESALE MORTGAGE, LLC (6.53%).

    Gillette FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Gillette (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 $204,815 (2.5%) $225,448 (0.1%) 0.00 311
    2018-02-01 $205,000 (2.9%) $229,295 (1.1%) 0.00 319
    2018-03-01 $205,000 (2.5%) $229,856 (-1.7%) 0.00 319
    2018-04-01 $207,375 (3.2%) $236,033 (1.8%) 0.00 335
    2018-05-01 $209,900 (1.9%) $239,017 (2.3%) 0.00 339
    2018-06-01 $219,700 (6.7%) $241,678 (3.8%) 0.00 352
    2018-07-01 $220,000 (7.1%) $249,033 (6.8%) 0.00 356
    2018-08-01 $219,900 (5.2%) $246,196 (5.5%) 0.00 363
    2018-09-01 $215,000 (4.9%) $241,435 (4.8%) 0.00 348
    2018-10-01 $215,125 (7.6%) $241,051 (6.6%) 0.00 339
    2018-11-01 $214,950 (4.9%) $241,797 (6.4%) 0.00 324
    2018-12-01 $211,000 (2.9%) $239,692 (5.0%) 0.00 302
    2019-01-01 $209,450 (2.3%) $237,803 (5.5%) 0.00 287
    2019-02-01 $209,475 (2.2%) $239,513 (4.5%) 0.00 280
    2019-03-01 $210,257 (2.6%) $239,549 (4.2%) 0.00 275
    2019-04-01 $212,000 (2.2%) $239,904 (1.6%) 0.00 267
    2019-05-01 $217,850 (3.8%) $248,779 (4.1%) 0.00 239
    2019-06-01 $219,950 (0.1%) $251,353 (4.0%) 0.00 238
    2019-07-01 $215,500 (-2.1%) $249,933 (0.4%) 0.00 280
    2019-08-01 $215,791 (-1.9%) $251,037 (2.0%) 0.00 281
    2019-09-01 $216,977 (0.9%) $253,012 (4.8%) 0.00 278
    2019-10-01 $217,800 (1.2%) $254,155 (5.4%) 0.00 272
    2019-11-01 $219,450 (2.1%) $256,413 (6.0%) 0.00 224
    2019-12-01 $219,950 (4.2%) $258,424 (7.8%) 0.00 200
    2020-01-01 $223,725 (6.8%) $260,682 (9.6%) 0.00 184
    2020-02-01 $210,000 (0.3%) $253,068 (5.7%) 0.00 165
    2020-03-01 $212,175 (0.9%) $251,089 (4.8%) 0.00 176
    2020-04-01 $225,000 (6.1%) $258,658 (7.8%) 0.00 180
    2020-05-01 $229,000 (5.1%) $265,924 (6.9%) 0.00 188
    2020-06-01 $229,975 (4.6%) $272,825 (8.5%) 0.00 211
    2020-07-01 $231,650 (7.5%) $273,313 (9.4%) 0.00 199
    2020-08-01 $225,000 (4.3%) $262,639 (4.6%) 0.00 196
    2020-09-01 $225,000 (3.7%) $262,532 (3.8%) 0.00 200
    2020-10-01 $225,000 (3.3%) $272,770 (7.3%) 0.00 176
    2020-11-01 $222,450 (1.4%) $274,253 (7.0%) 0.00 168
    2020-12-01 $219,300 (-0.3%) $273,614 (5.9%) 0.00 166
    2021-01-01 $215,000 (-3.9%) $282,305 (8.3%) 0.00 155
    2021-02-01 $219,950 (4.7%) $267,046 (5.5%) 0.00 150
    2021-03-01 $228,200 (7.6%) $273,558 (9.0%) 0.00 147
    2021-04-01 $228,450 (1.5%) $273,703 (5.8%) 0.00 132
    2021-05-01 $224,950 (-1.8%) $269,414 (1.3%) 0.00 132
    2021-06-01 $229,900 (0.0%) $278,205 (2.0%) 0.00 138
    2021-07-01 $229,900 (-0.8%) $277,369 (1.5%) 0.00 129
    2021-08-01 $247,950 (10.2%) $302,768 (15.3%) 0.00 105
    2021-09-01 $241,500 (7.3%) $300,114 (14.3%) 0.00 95
    2021-10-01 $236,000 (4.9%) $270,813 (-0.7%) 0.00 75
    2021-11-01 $238,450 (7.2%) $269,268 (-1.8%) 0.00 87
    2021-12-01 $246,225 (12.3%) $403,219 (47.4%) 0.00 76
    2022-01-01 $259,900 (20.9%) $468,681 (66.0%) 0.00 56
    2022-02-01 $282,850 (28.6%) $481,052 (80.1%) 0.00 57
    2022-03-01 $315,725 (38.4%) $505,428 (84.8%) 0.00 57
    2022-04-01 $312,450 (36.8%) $364,540 (33.2%) 0.00 61
    2022-05-01 $312,450 (38.9%) $375,996 (39.6%) 0.00 60
    2022-06-01 $322,250 (40.2%) $462,589 (66.3%) 0.00 73
    2022-07-01 $369,900 (60.9%) $471,863 (70.1%) 0.00 77
    2022-08-01 $376,225 (51.7%) $485,818 (60.5%) 0.00 90
    2022-09-01 $374,725 (55.2%) $482,283 (60.7%) 0.00 86
    2022-10-01 $379,900 (61.0%) $496,326 (83.3%) 0.00 86
    2022-11-01 $384,925 (61.4%) $446,062 (65.7%) 0.00 85
    2022-12-01 $355,000 (44.2%) $385,843 (-4.3%) 0.00 88
    2023-01-01 $360,000 (38.5%) $382,791 (-18.3%) 0.00 72
    2023-02-01 $404,925 (43.2%) $410,182 (-14.7%) 0.00 54
    2023-03-01 $384,925 (21.9%) $406,647 (-19.5%) 0.00 50
    2023-04-01 $399,900 (28.0%) $424,266 (16.4%) 0.00 60
    2023-05-01 $407,425 (30.4%) $437,005 (16.2%) 0.00 77
    2023-06-01 $379,725 (17.8%) $424,577 (-8.2%) 0.00 75
    2023-07-01 $375,000 (1.4%) $455,667 (-3.4%) 0.00 89
    2023-08-01 $381,300 (1.4%) $479,338 (-1.3%) 0.00 95
    2023-09-01 $389,450 (3.9%) $471,641 (-2.2%) 0.00 103
    2023-10-01 $407,950 (7.4%) $483,360 (-2.6%) 0.00 97
    2023-11-01 $401,175 (4.2%) $477,461 (7.0%) 0.00 97
    2023-12-01 $422,450 (19.0%) $490,033 (27.0%) 0.00 87
    2024-01-01 $404,200 (12.3%) $486,163 (27.0%) 0.00 85
    2024-02-01 $412,400 (1.9%) $483,932 (18.0%) 0.00 83
    2024-03-01 $419,900 (9.1%) $527,092 (29.6%) 0.00 85
    2024-04-01 $438,675 (9.7%) $540,338 (27.4%) 0.00 81
    2024-05-01 $448,200 (10.0%) $546,734 (25.1%) 0.00 85
    2024-06-01 $415,000 (9.3%) $485,128 (14.3%) 0.00 91
    2024-07-01 $398,675 (6.3%) $468,150 (2.7%) 0.00 102
    2024-08-01 $344,500 (-9.7%) $423,292 (-11.7%) 0.00 118
    2024-09-01 $360,850 (-7.3%) $428,837 (-9.1%) 0.00 122
    2024-10-01 $374,475 (-8.2%) $447,021 (-7.5%) 0.00 122
    2024-11-01 $350,000 (-12.8%) $438,412 (-8.2%) 0.00 125
    2024-12-01 $344,500 (-18.5%) $408,751 (-16.6%) 0.00 108
    2025-01-01 $339,500 (-16.0%) $412,935 (-15.1%) 0.00 101
    Gillette's median listing price for 2025-01-01 was $339,500, a difference of $-64,700 (-16.0%) versus the prior year and $-5,000 versus the prior month.

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

    Gillette's average listing price for 2025-01-01 was $412,935, a difference of $-73,228 (-15.1%) versus the prior year and $4,184 versus the prior month.

    For the 2025-01-01 period, Gillette had 101 MLS listings, a difference of -7 listings (-6%) versus the prior month and 16 listings (19%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Gillette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,065 sqft
    2018-02-01 0 days 2,090 sqft
    2018-03-01 0 days 2,128 sqft
    2018-04-01 0 days 2,128 sqft
    2018-05-01 0 days 2,128 sqft
    2018-06-01 0 days 2,128 sqft
    2018-07-01 0 days 2,205 sqft
    2018-08-01 0 days 2,187 sqft
    2018-09-01 0 days 2,128 sqft
    2018-10-01 0 days 2,159 sqft
    2018-11-01 0 days 2,128 sqft
    2018-12-01 0 days 2,077 sqft
    2019-01-01 0 days 2,032 sqft
    2019-02-01 0 days 2,020 sqft
    2019-03-01 0 days 2,061 sqft
    2019-04-01 0 days 2,124 sqft
    2019-05-01 0 days 2,195 sqft
    2019-06-01 0 days 2,220 sqft
    2019-07-01 0 days 2,235 sqft
    2019-08-01 0 days 2,189 sqft
    2019-09-01 0 days 2,162 sqft
    2019-10-01 0 days 2,143 sqft
    2019-11-01 0 days 2,170 sqft
    2019-12-01 0 days 2,116 sqft
    2020-01-01 0 days 2,140 sqft
    2020-02-01 0 days 2,080 sqft
    2020-03-01 0 days 2,072 sqft
    2020-04-01 0 days 2,252 sqft
    2020-05-01 0 days 2,362 sqft
    2020-06-01 0 days 2,399 sqft
    2020-07-01 0 days 2,400 sqft
    2020-08-01 0 days 2,322 sqft
    2020-09-01 0 days 2,284 sqft
    2020-10-01 0 days 2,332 sqft
    2020-11-01 0 days 2,266 sqft
    2020-12-01 0 days 2,121 sqft
    2021-01-01 0 days 2,112 sqft
    2021-02-01 0 days 2,122 sqft
    2021-03-01 0 days 2,121 sqft
    2021-04-01 0 days 2,084 sqft
    2021-05-01 0 days 2,073 sqft
    2021-06-01 0 days 2,233 sqft
    2021-07-01 0 days 2,280 sqft
    2021-08-01 0 days 2,315 sqft
    2021-09-01 0 days 2,331 sqft
    2021-10-01 0 days 2,254 sqft
    2021-11-01 0 days 2,250 sqft
    2021-12-01 0 days 2,272 sqft
    2022-01-01 0 days 2,392 sqft
    2022-02-01 0 days 2,329 sqft
    2022-03-01 0 days 2,392 sqft
    2022-04-01 0 days 2,248 sqft
    2022-05-01 0 days 2,260 sqft
    2022-06-01 0 days 2,407 sqft
    2022-07-01 0 days 2,530 sqft
    2022-08-01 0 days 2,534 sqft
    2022-09-01 0 days 2,576 sqft
    2022-10-01 0 days 2,812 sqft
    2022-11-01 0 days 2,839 sqft
    2022-12-01 0 days 2,700 sqft
    2023-01-01 0 days 2,694 sqft
    2023-02-01 0 days 2,808 sqft
    2023-03-01 0 days 2,657 sqft
    2023-04-01 0 days 2,547 sqft
    2023-05-01 0 days 2,636 sqft
    2023-06-01 0 days 2,616 sqft
    2023-07-01 0 days 2,484 sqft
    2023-08-01 0 days 2,412 sqft
    2023-09-01 0 days 2,389 sqft
    2023-10-01 0 days 2,405 sqft
    2023-11-01 0 days 2,583 sqft
    2023-12-01 0 days 2,394 sqft
    2024-01-01 0 days 2,306 sqft
    2024-02-01 0 days 2,409 sqft
    2024-03-01 0 days 2,362 sqft
    2024-04-01 0 days 2,484 sqft
    2024-05-01 0 days 2,488 sqft
    2024-06-01 0 days 2,410 sqft
    2024-07-01 0 days 2,405 sqft
    2024-08-01 0 days 2,245 sqft
    2024-09-01 0 days 2,290 sqft
    2024-10-01 0 days 2,285 sqft
    2024-11-01 0 days 2,206 sqft
    2024-12-01 0 days 2,243 sqft
    2025-01-01 0 days 2,256 sqft
    Gillette's median listing age (time on market) for 2025-01-01 was 0 days.

    Gillette's median square footage for active listings during the 2025-01-01 period was 2,256 sqft. One year prior, the average listing was 2,306 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).