Green Bay FHA Loans

GREEN BAY, 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.

    Green Bay's 71 lenders originated 787 FHA loans during 2021. The total origination value was $179,445,000, with an average FHA loan value of $228,011.

    Green Bay FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Green Bay averaged 5.17% for the week of 2022-08-05, compared to the national average (all FHA variants) of 5.305% for the same period.

    The average rate for the prior week (2022-07-29) was 5.31% and one month ago for the week of 2022-07-01, the average rate was 5.5%.

    The average rate one year ago was 3%.

    For refis of the same type during the week of 2022-08-05, the average rate was 4.89%.

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

    Green Bay FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Green Bay level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    QUICKEN LOANS, LLC 90 2.78% $5,472
    FINANCE OF AMERICA MORTGAGE LLC 62 3.15% $6,159
    GUARANTEED RATE, INC. 56 2.95% $6,249
    INLANTA MORTGAGE, INC. 32 3.26% $5,921
    PARKSIDE LENDING, LLC 30 2.87% $5,069
    UNITED WHOLESALE MORTGAGE, LLC 30 2.70% $5,733
    PENNYMAC LOAN SERVICES, LLC 26 3.06% $4,461
    Waterstone Mortgage Corporation 25 3.54% $6,620
    LAKEVIEW LOAN SERVICING, LLC 23 2.99% $4,521
    Mr. Cooper ( Nationstar Mortgage ) 22 3.40% $3,978
    FREEDOM MORTGAGE CORPORATION 21 2.96% $3,876
    Flagstar Bank, FSB 20 2.85% $4,816
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 18 3.29% $7,017
    CROSSCOUNTRY MORTGAGE, LLC 17 3.15% $8,012
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 3.34% $7,167
    MICHIGAN MUTUAL, INC. 14 3.37% $5,704
    EVERETT FINANCIAL, INC. 14 3.88% $5,006
    TOWNE MORTGAGE COMPANY 12 3.80% $5,982
    CALIBER HOME LOANS, INC. 12 2.60% $3,793
    Paramount Residential Mortgage Group, Inc. 10 3.61% $6,343
    AMERISAVE MORTGAGE CORPORATION 9 3.24% $6,615
    NEWREZ LLC 9 3.03% $3,800
    LAND HOME FINANCIAL SERVICES, INC. 9 3.47% $6,519
    LOANDEPOT.COM, LLC 9 3.15% $7,444
    BROKER SOLUTIONS, INC. 7 3.35% $7,430
    PLAZA HOME MORTGAGE, INC. 7 3.21% $5,361
    HOMEBRIDGE FINANCIAL SERVICES, INC. 7 2.63% $4,989
    VILLAGE CAPITAL & INVESTMENT LLC 5 2.95% $1,060
    Associated Bank 5 2.75% $4,497
    Bank Five Nine 4 2.94% $6,224
    PLANET HOME LENDING, LLC 4 2.72% $5,510
    U.S. Bank 4 3.03% $5,091
    Carrington Mortgage Services, LLC 4 3.38% $7,123
    CHERRY CREEK MORTGAGE, LLC 4 3.75% $2,849
    HOMESIDE FINANCIAL, LLC 3 3.42% $6,362
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 3.25% $8,703
    Plains Commerce Bank 3 2.75% $4,904
    HOME POINT FINANCIAL CORPORATION 3 2.74% $4,686
    Mortgage Research Center, LLC 3 2.91% $4,127
    GSF Mortgage Corporation 2 3.19% $7,665
    SUN WEST MORTGAGE COMPANY, INC. 2 3.13% $2,534
    The Federal Savings Bank 2 2.94% $9,691
    CORNERSTONE HOME LENDING, INC. 2 3.88% $6,344
    TOTAL MORTGAGE SERVICES, LLC 2 3.50% $6,541
    AMERICAN FINANCIAL NETWORK, INC. 2 2.63% $12,767
    Willamette Valley Bank 1 3.13% $6,818
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 3.13% $3,929
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 3.13% $8,667
    Ameris Bank 1 2.63% $5,281
    Barrington Bank & Trust Company, N.A. 1 3.25% $4,498
    BAY EQUITY LLC 1 2.25% $7,387
    Chickasaw Community Bank 1 3.00% $7,293
    CMG MORTGAGE, INC. 1 4.25% $8,462
    COMPASS MORTGAGE, INC. 1 3.75% $6,710
    First Federal Bank 1 3.00% $5,125
    First Guaranty Mortgage Corporation 1 2.88% $6,178
    First Horizon Bank 1 2.75% $5,430
    JPMorgan Chase Bank 1 2.63% $7,694
    LIBERTY HOME MORTGAGE CORPORATION 1 3.25% $8,833
    Loan Simple, Inc. 1 2.63% $4,700
    Manufacturers and Traders Trust Company 1 3.25% $5,850
    MLD MORTGAGE INC. 1 2.38% $8,325
    MOVEMENT MORTGAGE, LLC 1 3.25% $7,755
    MUTUAL OF OMAHA MORTGAGE, INC. 1 2.75% $7,494
    NATIONS DIRECT MORTGAGE, LLC 1 3.75% $3,537
    Nations Lending Corporation 1 3.50% $11,344
    OCEANSIDE MORTGAGE COMPANY 1 2.75% $1,967
    Peoples Bank 1 3.75% $7,437
    Servion, Inc. 1 3.25% $5,144
    SOVEREIGN LENDING GROUP INCORPORATED 1 2.75% $6,672
    ACADEMY MORTGAGE CORPORATION 1 2.88% $8,135

    The top Green Bay FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 90 FHA loans originated. Their average total fees are $5,472, which is $687 lower than the next largest lender, FINANCE OF AMERICA MORTGAGE LLC.

    The lowest fee Green Bay FHA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. ($3,793), FREEDOM MORTGAGE CORPORATION ($3,876), Mr. Cooper ( Nationstar Mortgage ) ($3,978), PENNYMAC LOAN SERVICES, LLC ($4,461) and LAKEVIEW LOAN SERVICING, LLC ($4,521).

    The lowest rate Green Bay FHA lenders (with over 10 loans originated) are CALIBER HOME LOANS, INC. (2.60%), UNITED WHOLESALE MORTGAGE, LLC (2.70%), QUICKEN LOANS, LLC (2.78%), Flagstar Bank, FSB (2.85%) and PARKSIDE LENDING, LLC (2.87%).

    Green Bay FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    GREEN BAY, WI BROWN 2022 $420,680 $538,650 $651,050 $809,150
    GREEN BAY, WI KEWAUNEE 2022 $420,680 $538,650 $651,050 $809,150
    GREEN BAY, WI OCONTO 2022 $420,680 $538,650 $651,050 $809,150

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Green Bay (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 $219,900 (20.6%) $270,314 (17.1%) 0.81 1,136
    2018-02-01 $219,400 (17.4%) $268,501 (13.3%) 0.79 1,148
    2018-03-01 $219,900 (15.8%) $267,700 (11.2%) 0.76 1,163
    2018-04-01 $256,950 (35.3%) $308,025 (29.0%) 0.86 799
    2018-05-01 $259,900 (30.7%) $308,039 (28.1%) 0.87 837
    2018-06-01 $249,900 (25.0%) $300,484 (24.8%) 0.83 934
    2018-07-01 $249,900 (25.0%) $300,330 (26.6%) 0.83 989
    2018-08-01 $244,950 (24.7%) $291,549 (21.3%) 0.82 1,073
    2018-09-01 $239,900 (23.1%) $288,818 (18.8%) 0.80 1,100
    2018-10-01 $237,950 (19.3%) $282,355 (15.6%) 0.80 1,057
    2018-11-01 $232,700 (16.4%) $279,267 (11.1%) 0.78 1,013
    2018-12-01 $234,900 (12.4%) $282,962 (8.9%) 0.80 924
    2019-01-01 $244,450 (11.2%) $281,136 (4.0%) 0.84 818
    2019-02-01 $249,950 (13.9%) $294,061 (9.5%) 0.84 757
    2019-03-01 $256,386 (16.6%) $302,470 (13.0%) 0.84 745
    2019-04-01 $261,336 (1.7%) $306,587 (-0.5%) 0.82 753
    2019-05-01 $268,450 (3.3%) $310,202 (0.7%) 0.83 818
    2019-06-01 $264,900 (6.0%) $306,224 (1.9%) 0.82 917
    2019-07-01 $259,900 (4.0%) $294,233 (-2.0%) 0.81 995
    2019-08-01 $255,100 (4.1%) $289,120 (-0.8%) 0.80 1,011
    2019-09-01 $249,900 (4.2%) $288,674 (-0.1%) 0.79 1,012
    2019-10-01 $252,400 (6.1%) $295,369 (4.6%) 0.81 966
    2019-11-01 $264,900 (13.8%) $303,028 (8.5%) 0.85 835
    2019-12-01 $269,450 (14.7%) $313,300 (10.7%) 0.90 781
    2020-01-01 $274,500 (12.3%) $325,140 (15.7%) 0.92 703
    2020-02-01 $276,900 (10.8%) $328,046 (11.6%) 0.89 678
    2020-03-01 $283,900 (10.7%) $332,547 (9.9%) 0.89 700
    2020-04-01 $282,400 (8.1%) $337,511 (10.1%) 0.88 690
    2020-05-01 $297,000 (10.6%) $354,919 (14.4%) 0.90 638
    2020-06-01 $297,000 (12.1%) $349,373 (14.1%) 0.87 617
    2020-07-01 $296,950 (14.3%) $354,282 (20.4%) 0.85 567
    2020-08-01 $289,900 (13.6%) $350,683 (21.3%) 0.83 541
    2020-09-01 $272,400 (9.0%) $341,304 (18.2%) 0.78 521
    2020-10-01 $277,900 (10.1%) $348,745 (18.1%) 0.79 495
    2020-11-01 $274,900 (3.8%) $354,127 (16.9%) 0.79 468
    2020-12-01 $275,200 (2.1%) $354,111 (13.0%) 0.81 413
    2021-01-01 $279,900 (2.0%) $359,373 (10.5%) 0.82 343
    2021-02-01 $292,400 (5.6%) $384,309 (17.2%) 0.84 298
    2021-03-01 $309,950 (9.2%) $400,661 (20.5%) 0.87 285
    2021-04-01 $297,400 (5.3%) $394,967 (17.0%) 0.80 290
    2021-05-01 $299,900 (1.0%) $392,430 (10.6%) 0.79 302
    2021-06-01 $304,950 (2.7%) $379,425 (8.6%) 0.79 345
    2021-07-01 $318,400 (7.2%) $388,153 (9.6%) 0.83 395
    2021-08-01 $321,250 (10.8%) $395,803 (12.9%) 0.84 418
    2021-09-01 $309,900 (13.8%) $377,745 (10.7%) 0.82 446
    2021-10-01 $319,900 (15.1%) $372,676 (6.9%) 0.84 447
    2021-11-01 $326,900 (18.9%) $392,195 (10.8%) 0.86 362
    2021-12-01 $337,400 (22.6%) $412,403 (16.5%) 0.90 318
    2022-01-01 $334,900 (19.7%) $428,982 (19.4%) 0.89 267
    2022-02-01 $345,900 (18.3%) $446,788 (16.3%) 0.88 240
    2022-03-01 $349,900 (12.9%) $451,561 (12.7%) 0.86 245
    2022-04-01 $384,900 (29.4%) $464,187 (17.5%) 0.91 324
    2022-05-01 $384,950 (28.4%) $458,194 (16.8%) 0.86 373
    2022-06-01 $397,000 (30.2%) $465,786 (22.8%) 0.88 454
    Green Bay's median listing price for 2022-06-01 was $397,000, a difference of $92,050 (30.2%) versus the prior year and $12,050 versus the prior month.

    Green Bay's median listing price comes in at 88% of the national average.

    Green Bay's average listing price for 2022-06-01 was $465,786, a difference of $86,361 (22.8%) versus the prior year and $7,592 versus the prior month.

    For the 2022-06-01 period, Green Bay had 454 MLS listings, a difference of 81 listings (22%) versus the prior month and 109 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Green Bay (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 102 days 1,791 sqft
    2018-02-01 102 days 1,787 sqft
    2018-03-01 74 days 1,827 sqft
    2018-04-01 65 days 1,852 sqft
    2018-05-01 59 days 1,864 sqft
    2018-06-01 53 days 1,868 sqft
    2018-07-01 56 days 1,871 sqft
    2018-08-01 60 days 1,869 sqft
    2018-09-01 67 days 1,850 sqft
    2018-10-01 69 days 1,821 sqft
    2018-11-01 77 days 1,815 sqft
    2018-12-01 92 days 1,801 sqft
    2019-01-01 97 days 1,812 sqft
    2019-02-01 100 days 1,845 sqft
    2019-03-01 91 days 1,829 sqft
    2019-04-01 72 days 1,812 sqft
    2019-05-01 57 days 1,856 sqft
    2019-06-01 51 days 1,852 sqft
    2019-07-01 54 days 1,869 sqft
    2019-08-01 57 days 1,857 sqft
    2019-09-01 65 days 1,819 sqft
    2019-10-01 65 days 1,807 sqft
    2019-11-01 73 days 1,808 sqft
    2019-12-01 84 days 1,798 sqft
    2020-01-01 99 days 1,786 sqft
    2020-02-01 98 days 1,796 sqft
    2020-03-01 69 days 1,836 sqft
    2020-04-01 70 days 1,854 sqft
    2020-05-01 78 days 1,899 sqft
    2020-06-01 73 days 1,884 sqft
    2020-07-01 58 days 1,904 sqft
    2020-08-01 53 days 1,860 sqft
    2020-09-01 53 days 1,841 sqft
    2020-10-01 57 days 1,852 sqft
    2020-11-01 60 days 1,811 sqft
    2020-12-01 67 days 1,730 sqft
    2021-01-01 78 days 1,730 sqft
    2021-02-01 73 days 1,734 sqft
    2021-03-01 53 days 1,844 sqft
    2021-04-01 44 days 1,831 sqft
    2021-05-01 39 days 1,800 sqft
    2021-06-01 38 days 1,747 sqft
    2021-07-01 42 days 1,793 sqft
    2021-08-01 43 days 1,801 sqft
    2021-09-01 47 days 1,786 sqft
    2021-10-01 47 days 1,776 sqft
    2021-11-01 52 days 1,796 sqft
    2021-12-01 60 days 1,764 sqft
    2022-01-01 69 days 1,706 sqft
    2022-02-01 74 days 1,732 sqft
    2022-03-01 52 days 1,808 sqft
    2022-04-01 29 days 1,651 sqft
    2022-05-01 43 days 1,650 sqft
    2022-06-01 42 days 1,670 sqft
    Green Bay's median listing age (time on market) for 2022-06-01 was 42 days. This is 9% longer than the same period one year ago.

    Green Bay's median square footage for active listings during the 2022-06-01 period was 1,670 sqft. One year prior, the average listing was 1,747 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).