Green Bay FHA Loans

GREEN BAY, 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.

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).