Green Bay FHA Loan Rates, Closing Costs & Stats

GREEN BAY, WI

  • JUMP TO:
  • Trends
  • Rates vs Fees
  • Top Lenders
  • Markets
  • Loan Limits

    • 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 62 lenders originated 376 FHA loans during 2023. The total origination value was $82,800,000, with an average FHA loan value of $220,213.

    Green Bay FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Green Bay averaged 6.55% for the week of 2024-11-08, compared to the national average (all FHA variants) of 6.425% for the same period.

    Green Bay's average FHA mortgage closing costs are $6,276.

    The average rate for the prior week (2024-11-01) was 6.32% and one month ago for the week of 2024-10-04, the average rate was 5.84%.

    The average rate one year ago was 7.29%.

    For refis of the same type during the week of 2024-11-08, the average rate was 6.33%.

    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/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Green Bay level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    V.I.P. MORTGAGE, INC. 59 6.59% $9,107
    QUICKEN LOANS, LLC 37 6.31% $10,484
    UNITED WHOLESALE MORTGAGE, LLC 33 6.45% $8,997
    CROSSCOUNTRY MORTGAGE, LLC 16 7.47% $9,836
    Associated Bank 13 6.34% $6,405
    Bank Five Nine 13 6.89% $7,684
    GUILD MORTGAGE COMPANY 10 7.01% $9,328
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.87% $7,000
    GUARANTEED RATE, INC. 9 6.82% $10,268
    MOVEMENT MORTGAGE, LLC 8 7.05% $10,022
    MICHIGAN MUTUAL, INC. 8 7.08% $8,808
    PENNYMAC LOAN SERVICES, LLC 7 6.27% $9,544
    GSF Mortgage Corporation 6 6.44% $8,959
    Waterstone Mortgage Corporation 6 6.98% $9,485
    BROKER SOLUTIONS, INC. 6 6.29% $11,194
    Nations Lending Corporation 6 7.48% $11,807
    LOANDEPOT.COM, LLC 6 6.54% $11,136
    Flagstar Bank, FSB 6 6.99% $6,622
    CARDINAL FINANCIAL 5 7.08% $11,540
    JPMorgan Chase Bank 5 6.58% $6,090
    U.S. Bank 5 7.25% $6,560
    ENDEAVOR CAPITAL, LLC. 5 6.92% $10,649
    PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.83% $11,583
    Mr. Cooper ( Nationstar Mortgage ) 4 6.31% $13,379
    AMERISAVE MORTGAGE CORPORATION 4 6.06% $9,868
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 4 7.03% $8,392
    Ixonia Bank 4 7.22% $9,478
    TOWNE MORTGAGE COMPANY 4 7.19% $10,551
    FREEDOM MORTGAGE CORPORATION 3 7.25% $13,035
    Carrington Mortgage Services, LLC 3 6.96% $12,390
    LAKEVIEW LOAN SERVICING, LLC 3 6.25% $12,209
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.29% $14,381
    Paramount Residential Mortgage Group, Inc. 3 7.38% $8,273
    AmeriHome Mortgage Company, LLC 3 6.79% $10,256
    EMM LOANS LLC 2 6.25% $14,262
    M&T Bank 2 6.63% $8,625
    VILLAGE CAPITAL MORTGAGE 2 6.50% $5,417
    AMERICAN FINANCING CORPORATION 2 6.19% $10,707
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 7.38% $10,360
    NEWREZ LLC 2 5.88% $13,785
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $12,319
    CALCON MUTUAL MORTGAGE LLC 1 6.13% $7,939
    The Federal Savings Bank 1 5.25% $15,097
    TJC Mortgage, Inc. 1 6.25% $12,971
    TOP FLITE FINANCIAL, INC. 1 6.75% $14,053
    Wolfe Financial, Inc 1 7.25% $11,564
    Bank of England 1 8.38% $9,937
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 6.25% $7,166
    Waukesha State Bank 1 7.13% $7,446
    Wells Fargo Bank 1 6.63% $7,850
    HOMESTEAD FUNDING CORP. 1 6.25% $6,993
    LAND HOME FINANCIAL SERVICES, INC. 1 6.75% $13,104
    First United Bank 1 6.25% $8,272
    Magnolia Bank 1 6.00% $11,206
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 6.75% $7,433
    MID AMERICA MORTGAGE, INC. 1 6.75% $4,389
    Mortgage Research Center, LLC 1 6.25% $7,974
    EVERETT FINANCIAL, INC. 1 7.13% $14,165
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $11,453
    CORNERSTONE HOME LENDING, INC. 1 7.13% $7,577
    PLANET HOME LENDING, LLC 1 6.88% $3,589
    PLAZA HOME MORTGAGE, INC. 1 7.25% $18,223

    The top Green Bay FHA lender as defined by loan originations is V.I.P. MORTGAGE, INC., with 59 FHA loans originated. Their average total fees are $9,107, which is $1,377 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Green Bay FHA lenders (with over 10 loans originated) are Associated Bank ($6,405), Bank Five Nine ($7,684), UNITED WHOLESALE MORTGAGE, LLC ($8,997), V.I.P. MORTGAGE, INC. ($9,107) and GUILD MORTGAGE COMPANY ($9,328).

    The lowest rate Green Bay FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.31%), Associated Bank (6.34%), UNITED WHOLESALE MORTGAGE, LLC (6.45%), V.I.P. MORTGAGE, INC. (6.59%) and Bank Five Nine (6.89%).

    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
    GREEN BAY, WI BROWN 2023 $472,030 $604,400 $730,525 $907,900
    GREEN BAY, WI KEWAUNEE 2023 $472,030 $604,400 $730,525 $907,900
    GREEN BAY, WI OCONTO 2023 $472,030 $604,400 $730,525 $907,900

    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).