Holland FHA Loan Rates, Closing Costs & Stats

Holland, MI

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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.

    Holland's 58 lenders originated 220 FHA loans during 2023. The total origination value was $51,740,000, with an average FHA loan value of $235,182.

    Holland FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Holland averaged 6.43% for the week of 2025-02-14, compared to the national average (all FHA variants) of 6.515% for the same period.

    Holland's average FHA mortgage closing costs are $7,263.

    The average rate for the prior week (2025-02-07) was 6.64% and one month ago for the week of 2025-01-10, the average rate was 6.6%.

    The average rate one year ago was 6.43%.

    For refis of the same type during the week of 2025-02-14, the average rate was 6.82%.

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

    Holland 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 Holland level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 32 6.37% $10,615
    Neighborhood Loans, Inc. 23 6.94% $10,382
    UNITED WHOLESALE MORTGAGE, LLC 21 6.31% $11,033
    LAKE MICHIGAN CREDIT UNION 15 6.51% $10,311
    SUCCESS MORTGAGE PARTNERS, INC. 8 6.78% $11,682
    UNION HOME MORTGAGE CORP. 6 6.96% $11,218
    NEWREZ LLC 5 6.80% $9,546
    Mercantile Bank of Michigan 5 6.63% $9,691
    CROSSCOUNTRY MORTGAGE, LLC 5 6.60% $14,216
    Carrington Mortgage Services, LLC 5 6.28% $10,639
    The Huntington National Bank 4 6.78% $8,046
    MORTGAGE CENTER L.C 4 6.97% $7,149
    NORTHERN MORTGAGE SERVICES, LLC 4 6.91% $9,452
    MICHIGAN MUTUAL, INC. 4 5.31% $13,434
    MUTUAL OF OMAHA MORTGAGE, INC. 3 7.00% $10,267
    MORTGAGE 1 INCORPORATED 3 6.79% $12,386
    Plains Commerce Bank 3 6.46% $8,231
    Fifth Third Bank 3 6.63% $8,278
    CARDINAL FINANCIAL 3 7.00% $10,480
    GVC MORTGAGE, INC. 3 6.38% $7,771
    FREEDOM MORTGAGE CORPORATION 2 6.63% $13,584
    CONTOUR MORTGAGE CORPORATION 2 7.13% $14,199
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 2 7.13% $11,811
    GSF Mortgage Corporation 2 7.06% $10,380
    GUILD MORTGAGE COMPANY 2 7.38% $8,063
    Independent Bank 2 6.44% $4,432
    Northpointe Bank 2 6.94% $9,486
    RUOFF MORTGAGE COMPANY, INC. 2 7.50% $10,936
    The Dart Bank 2 6.94% $9,064
    VAN DYK MORTGAGE CORPORATION 2 6.06% $9,454
    Honor Credit Union 1 6.00% $11,176
    HOMESIDE FINANCIAL, LLC 1 7.25% $9,926
    Mr. Cooper ( Nationstar Mortgage ) 1 5.75% $13,265
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.38% $10,382
    AMERICAN FINANCING CORPORATION 1 7.25% $16,641
    Flagstar Bank, FSB 1 7.75% $6,562
    FIRST COMMUNITY MORTGAGE, INC. 1 7.25% $12,297
    ZILLOW HOME LOANS, LLC 1 6.38% $14,477
    PENNYMAC LOAN SERVICES, LLC 1 6.63% $13,497
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.75% $13,708
    Platinum Home Mortgage Corporation 1 5.75% $11,511
    Preston Home Loans Inc 1 7.25% $9,227
    Equity Prime Mortgage LLC 1 7.75% $9,209
    RELIANCE FIRST CAPITAL, LLC 1 7.00% $7,538
    ROYAL UNITED MORTGAGE LLC 1 7.50% $7,000
    VILLAGE CAPITAL MORTGAGE 1 7.25% $6,266
    CHURCHILL MORTGAGE CORPORATION 1 7.50% $12,036
    SUMMIT HOME MORTGAGE, LLC 1 6.75% $10,544
    T2 FINANCIAL LLC 1 7.75% $13,104
    Wells Fargo Bank 1 5.88% $7,191
    Century Mortgage Company DBA Century Lending Company 1 4.99% $28,025
    BECKAM FUNDING CORP. 1 7.13% $7,795
    UNITED 1 6.75% $8,980
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $13,690
    MICHIGAN FIRST CREDIT UNION 1 5.75% $13,993
    LOANDEPOT.COM, LLC 1 5.99% $7,272
    MID AMERICA MORTGAGE, INC. 1 7.00% $3,196
    MMS MORTGAGE SERVICES, LTD. 1 7.00% $10,397

    The top Holland FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 32 FHA loans originated. Their average total fees are $10,615, which is $234 higher than the next largest lender, Neighborhood Loans, Inc..

    The lowest fee Holland FHA lenders (with over 10 loans originated) are LAKE MICHIGAN CREDIT UNION ($10,311), Neighborhood Loans, Inc. ($10,382), QUICKEN LOANS, LLC ($10,615), UNITED WHOLESALE MORTGAGE, LLC ($11,033) and .

    The lowest rate Holland FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.31%), QUICKEN LOANS, LLC (6.37%), LAKE MICHIGAN CREDIT UNION (6.51%), Neighborhood Loans, Inc. (6.94%) and .

    Holland FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    HOLLAND, MI ALLEGAN 2022 $420,680 $538,650 $651,050 $809,150
    HOLLAND, MI ALLEGAN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Holland (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 $266,669 (-10.9%) $422,146 (-17.4%) 0.00 346
    2018-02-01 $270,675 (-14.0%) $449,276 (-16.9%) 0.00 329
    2018-03-01 $287,800 (-5.0%) $470,339 (-14.2%) 0.00 332
    2018-04-01 $281,725 (-12.0%) $462,716 (-14.0%) 0.00 347
    2018-05-01 $298,450 (1.2%) $460,931 (-2.9%) 0.00 380
    2018-06-01 $319,900 (11.8%) $468,620 (3.1%) 0.00 410
    2018-07-01 $317,500 (13.4%) $458,810 (3.4%) 0.00 455
    2018-08-01 $291,700 (5.3%) $441,283 (2.6%) 0.00 461
    2018-09-01 $279,900 (4.1%) $445,333 (4.7%) 0.00 450
    2018-10-01 $295,500 (10.5%) $448,794 (9.7%) 0.00 449
    2018-11-01 $304,900 (12.2%) $465,306 (11.8%) 0.00 438
    2018-12-01 $299,000 (13.6%) $460,857 (11.2%) 0.00 381
    2019-01-01 $293,400 (10.0%) $454,327 (7.6%) 0.00 334
    2019-02-01 $313,350 (15.8%) $485,102 (8.0%) 0.00 318
    2019-03-01 $326,407 (13.4%) $495,443 (5.3%) 0.00 342
    2019-04-01 $334,975 (18.9%) $513,415 (11.0%) 0.00 352
    2019-05-01 $335,000 (12.3%) $497,090 (7.8%) 0.00 391
    2019-06-01 $335,000 (4.7%) $483,956 (3.3%) 0.00 448
    2019-07-01 $337,319 (6.2%) $473,624 (3.2%) 0.00 495
    2019-08-01 $328,553 (12.6%) $465,254 (5.4%) 0.00 503
    2019-09-01 $326,498 (16.7%) $461,911 (3.7%) 0.00 516
    2019-10-01 $321,950 (9.0%) $458,252 (2.1%) 0.00 527
    2019-11-01 $314,950 (3.3%) $456,993 (-1.8%) 0.00 477
    2019-12-01 $297,725 (-0.4%) $457,988 (-0.6%) 0.00 437
    2020-01-01 $291,400 (-0.7%) $442,599 (-2.6%) 0.00 383
    2020-02-01 $327,000 (4.4%) $491,354 (1.3%) 0.00 354
    2020-03-01 $339,225 (3.9%) $503,392 (1.6%) 0.00 349
    2020-04-01 $339,900 (1.5%) $489,269 (-4.7%) 0.00 356
    2020-05-01 $339,900 (1.5%) $492,089 (-1.0%) 0.00 372
    2020-06-01 $363,900 (8.6%) $530,070 (9.5%) 0.00 344
    2020-07-01 $371,050 (10.0%) $536,197 (13.2%) 0.00 333
    2020-08-01 $379,500 (15.5%) $581,506 (25.0%) 0.00 275
    2020-09-01 $399,250 (22.3%) $609,906 (32.0%) 0.00 249
    2020-10-01 $399,900 (24.2%) $669,300 (46.1%) 0.00 224
    2020-11-01 $381,950 (21.3%) $644,897 (41.1%) 0.00 195
    2020-12-01 $356,975 (19.9%) $638,143 (39.3%) 0.00 177
    2021-01-01 $345,983 (18.7%) $613,666 (38.7%) 0.00 157
    2021-02-01 $355,600 (8.8%) $643,321 (30.9%) 0.00 130
    2021-03-01 $344,128 (1.5%) $633,567 (25.9%) 0.00 124
    2021-04-01 $358,355 (5.4%) $666,745 (36.3%) 0.00 127
    2021-05-01 $370,000 (8.9%) $694,430 (41.1%) 0.00 141
    2021-06-01 $359,950 (-1.1%) $680,679 (28.4%) 0.00 160
    2021-07-01 $359,900 (-3.0%) $644,433 (20.2%) 0.00 182
    2021-08-01 $365,725 (-3.6%) $635,147 (9.2%) 0.00 191
    2021-09-01 $367,500 (-8.0%) $614,488 (0.8%) 0.00 178
    2021-10-01 $399,450 (-0.1%) $670,455 (0.2%) 0.00 161
    2021-11-01 $404,950 (6.0%) $686,419 (6.4%) 0.00 142
    2021-12-01 $398,450 (11.6%) $670,624 (5.1%) 0.00 121
    2022-01-01 $359,000 (3.8%) $629,164 (2.5%) 0.00 86
    2022-02-01 $389,250 (9.5%) $652,743 (1.5%) 0.00 69
    2022-03-01 $375,363 (9.1%) $632,495 (-0.2%) 0.00 79
    2022-04-01 $400,000 (11.6%) $622,252 (-6.7%) 0.00 96
    2022-05-01 $414,313 (12.0%) $629,376 (-9.4%) 0.00 128
    2022-06-01 $429,675 (19.4%) $647,554 (-4.9%) 0.00 169
    2022-07-01 $415,000 (15.3%) $588,052 (-8.8%) 0.00 215
    2022-08-01 $426,000 (16.5%) $591,142 (-6.9%) 0.00 228
    2022-09-01 $437,250 (19.0%) $615,731 (0.2%) 0.00 212
    2022-10-01 $425,000 (6.4%) $620,885 (-7.4%) 0.00 216
    2022-11-01 $391,675 (-3.3%) $579,677 (-15.6%) 0.00 214
    2022-12-01 $385,000 (-3.4%) $575,388 (-14.2%) 0.00 173
    2023-01-01 $391,425 (9.0%) $560,983 (-10.8%) 0.00 141
    2023-02-01 $399,900 (2.7%) $630,366 (-3.4%) 0.00 112
    2023-03-01 $415,225 (10.6%) $686,525 (8.5%) 0.00 104
    2023-04-01 $465,680 (16.4%) $743,688 (19.5%) 0.00 113
    2023-05-01 $464,300 (12.1%) $715,082 (13.6%) 0.00 130
    2023-06-01 $484,975 (12.9%) $698,603 (7.9%) 0.00 133
    2023-07-01 $450,000 (8.4%) $653,243 (11.1%) 0.00 150
    2023-08-01 $431,175 (1.2%) $715,019 (21.0%) 0.00 162
    2023-09-01 $425,000 (-2.8%) $712,425 (15.7%) 0.00 184
    2023-10-01 $412,425 (-3.0%) $710,013 (14.4%) 0.00 209
    2023-11-01 $399,900 (2.1%) $691,087 (19.2%) 0.00 192
    2023-12-01 $407,450 (5.8%) $693,206 (20.5%) 0.00 167
    2024-01-01 $402,200 (2.8%) $610,106 (8.8%) 0.00 143
    2024-02-01 $423,500 (5.9%) $629,918 (-0.1%) 0.00 131
    2024-03-01 $456,450 (9.9%) $656,291 (-4.4%) 0.00 136
    2024-04-01 $469,375 (0.8%) $695,171 (-6.5%) 0.00 146
    2024-05-01 $457,450 (-1.5%) $692,485 (-3.2%) 0.00 178
    2024-06-01 $450,000 (-7.2%) $720,783 (3.2%) 0.00 212
    2024-07-01 $433,713 (-3.6%) $730,996 (11.9%) 0.00 217
    2024-08-01 $425,000 (-1.4%) $703,337 (-1.6%) 0.00 249
    2024-09-01 $422,425 (-0.6%) $692,260 (-2.8%) 0.00 237
    2024-10-01 $423,250 (2.6%) $674,291 (-5.0%) 0.00 257
    2024-11-01 $430,000 (7.5%) $667,298 (-3.4%) 0.00 240
    2024-12-01 $423,050 (3.8%) $601,435 (-13.2%) 0.00 207
    2025-01-01 $421,075 (4.7%) $574,137 (-5.9%) 0.00 173
    Holland's median listing price for 2025-01-01 was $421,075, a difference of $18,875 (4.7%) versus the prior year and $-1,975 versus the prior month.

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

    Holland's average listing price for 2025-01-01 was $574,137, a difference of $-35,969 (-5.9%) versus the prior year and $-27,298 versus the prior month.

    For the 2025-01-01 period, Holland had 173 MLS listings, a difference of -34 listings (-16%) versus the prior month and 30 listings (21%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Holland (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,056 sqft
    2018-02-01 0 days 2,057 sqft
    2018-03-01 0 days 2,100 sqft
    2018-04-01 0 days 2,033 sqft
    2018-05-01 0 days 2,077 sqft
    2018-06-01 0 days 2,076 sqft
    2018-07-01 0 days 2,085 sqft
    2018-08-01 0 days 2,027 sqft
    2018-09-01 0 days 1,961 sqft
    2018-10-01 0 days 2,030 sqft
    2018-11-01 0 days 2,044 sqft
    2018-12-01 0 days 2,008 sqft
    2019-01-01 0 days 1,984 sqft
    2019-02-01 0 days 1,987 sqft
    2019-03-01 0 days 2,008 sqft
    2019-04-01 0 days 2,018 sqft
    2019-05-01 0 days 2,005 sqft
    2019-06-01 0 days 2,062 sqft
    2019-07-01 0 days 2,091 sqft
    2019-08-01 0 days 2,083 sqft
    2019-09-01 0 days 2,057 sqft
    2019-10-01 0 days 2,033 sqft
    2019-11-01 0 days 2,019 sqft
    2019-12-01 0 days 2,003 sqft
    2020-01-01 0 days 1,990 sqft
    2020-02-01 0 days 2,012 sqft
    2020-03-01 0 days 1,991 sqft
    2020-04-01 0 days 2,023 sqft
    2020-05-01 0 days 2,031 sqft
    2020-06-01 0 days 2,037 sqft
    2020-07-01 0 days 2,018 sqft
    2020-08-01 0 days 2,072 sqft
    2020-09-01 0 days 2,240 sqft
    2020-10-01 0 days 2,196 sqft
    2020-11-01 0 days 2,177 sqft
    2020-12-01 0 days 2,129 sqft
    2021-01-01 0 days 2,167 sqft
    2021-02-01 0 days 2,186 sqft
    2021-03-01 0 days 2,126 sqft
    2021-04-01 0 days 2,106 sqft
    2021-05-01 0 days 2,067 sqft
    2021-06-01 0 days 2,027 sqft
    2021-07-01 0 days 1,985 sqft
    2021-08-01 0 days 2,102 sqft
    2021-09-01 0 days 1,999 sqft
    2021-10-01 0 days 2,069 sqft
    2021-11-01 0 days 2,066 sqft
    2021-12-01 0 days 2,065 sqft
    2022-01-01 0 days 2,072 sqft
    2022-02-01 0 days 2,069 sqft
    2022-03-01 0 days 2,100 sqft
    2022-04-01 0 days 2,179 sqft
    2022-05-01 0 days 2,114 sqft
    2022-06-01 0 days 2,158 sqft
    2022-07-01 0 days 2,147 sqft
    2022-08-01 0 days 2,067 sqft
    2022-09-01 0 days 2,136 sqft
    2022-10-01 0 days 2,142 sqft
    2022-11-01 0 days 2,062 sqft
    2022-12-01 0 days 2,055 sqft
    2023-01-01 0 days 2,060 sqft
    2023-02-01 0 days 2,072 sqft
    2023-03-01 0 days 2,070 sqft
    2023-04-01 0 days 2,076 sqft
    2023-05-01 0 days 2,201 sqft
    2023-06-01 0 days 2,188 sqft
    2023-07-01 0 days 2,142 sqft
    2023-08-01 0 days 2,211 sqft
    2023-09-01 0 days 2,152 sqft
    2023-10-01 0 days 2,118 sqft
    2023-11-01 0 days 2,088 sqft
    2023-12-01 0 days 2,112 sqft
    2024-01-01 0 days 1,994 sqft
    2024-02-01 0 days 2,035 sqft
    2024-03-01 0 days 2,100 sqft
    2024-04-01 0 days 2,226 sqft
    2024-05-01 0 days 2,117 sqft
    2024-06-01 0 days 2,169 sqft
    2024-07-01 0 days 2,085 sqft
    2024-08-01 0 days 2,039 sqft
    2024-09-01 0 days 1,995 sqft
    2024-10-01 0 days 2,019 sqft
    2024-11-01 0 days 2,075 sqft
    2024-12-01 0 days 2,100 sqft
    2025-01-01 0 days 2,056 sqft
    Holland's median listing age (time on market) for 2025-01-01 was 0 days.

    Holland's median square footage for active listings during the 2025-01-01 period was 2,056 sqft. One year prior, the average listing was 1,994 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).