Holland FHA Loan Rates, Closing Costs & Stats
Holland, MI
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
6.11%
for the week of 2024-10-11, compared to the national average (all FHA variants) of
6.1% for the same period.
Holland's average FHA mortgage closing costs are $7,263.
The average rate for the prior week (2024-10-04) was
6.03% and
one month ago for the week of 2024-09-06, the
average rate was 5.96%.
The average rate one year ago was 7.39%.
For refis of the same type during the week of 2024-10-11, the average rate
was 6.41%.
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.
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. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $269,675 (-9.9%) | $419,705 (-16.0%) | 0.00 | 368 |
2018-02-01 | $274,900 (-12.3%) | $445,257 (-15.5%) | 0.00 | 350 |
2018-03-01 | $288,850 (-3.8%) | $461,229 (-13.4%) | 0.00 | 353 |
2018-04-01 | $281,725 (-6.2%) | $452,372 (-13.2%) | 0.00 | 376 |
2018-05-01 | $299,575 (1.7%) | $447,258 (-2.5%) | 0.00 | 419 |
2018-06-01 | $320,000 (12.3%) | $455,716 (2.8%) | 0.00 | 457 |
2018-07-01 | $317,975 (14.0%) | $445,514 (2.9%) | 0.00 | 504 |
2018-08-01 | $299,000 (7.2%) | $429,912 (2.1%) | 0.00 | 504 |
2018-09-01 | $294,900 (9.3%) | $435,376 (4.4%) | 0.00 | 490 |
2018-10-01 | $298,810 (10.7%) | $438,668 (8.7%) | 0.00 | 481 |
2018-11-01 | $307,470 (11.9%) | $456,241 (10.7%) | 0.00 | 463 |
2018-12-01 | $299,000 (11.4%) | $453,992 (10.1%) | 0.00 | 403 |
2019-01-01 | $297,475 (10.3%) | $444,550 (5.9%) | 0.00 | 356 |
2019-02-01 | $316,975 (15.3%) | $475,698 (6.8%) | 0.00 | 336 |
2019-03-01 | $329,207 (14.0%) | $485,258 (5.2%) | 0.00 | 361 |
2019-04-01 | $334,975 (18.9%) | $501,998 (11.0%) | 0.00 | 376 |
2019-05-01 | $335,000 (11.8%) | $487,156 (8.9%) | 0.00 | 419 |
2019-06-01 | $335,000 (4.7%) | $472,025 (3.6%) | 0.00 | 477 |
2019-07-01 | $332,456 (4.6%) | $466,009 (4.6%) | 0.00 | 522 |
2019-08-01 | $327,200 (9.4%) | $458,279 (6.6%) | 0.00 | 529 |
2019-09-01 | $323,150 (9.6%) | $455,069 (4.5%) | 0.00 | 540 |
2019-10-01 | $317,500 (6.3%) | $451,831 (3.0%) | 0.00 | 552 |
2019-11-01 | $311,950 (1.5%) | $449,935 (-1.4%) | 0.00 | 502 |
2019-12-01 | $297,000 (-0.7%) | $449,923 (-0.9%) | 0.00 | 459 |
2020-01-01 | $289,175 (-2.8%) | $436,679 (-1.8%) | 0.00 | 398 |
2020-02-01 | $325,000 (2.5%) | $482,091 (1.3%) | 0.00 | 369 |
2020-03-01 | $337,500 (2.5%) | $494,337 (1.9%) | 0.00 | 377 |
2020-04-01 | $339,900 (1.5%) | $482,730 (-3.8%) | 0.00 | 384 |
2020-05-01 | $339,900 (1.5%) | $486,157 (-0.2%) | 0.00 | 399 |
2020-06-01 | $362,723 (8.3%) | $520,848 (10.3%) | 0.00 | 368 |
2020-07-01 | $366,950 (10.4%) | $530,034 (13.7%) | 0.00 | 350 |
2020-08-01 | $375,000 (14.6%) | $572,108 (24.8%) | 0.00 | 290 |
2020-09-01 | $399,000 (23.5%) | $603,228 (32.6%) | 0.00 | 261 |
2020-10-01 | $399,900 (26.0%) | $659,058 (45.9%) | 0.00 | 231 |
2020-11-01 | $379,950 (21.8%) | $635,900 (41.3%) | 0.00 | 206 |
2020-12-01 | $362,686 (22.1%) | $631,055 (40.3%) | 0.00 | 188 |
2021-01-01 | $356,300 (23.2%) | $609,793 (39.6%) | 0.00 | 163 |
2021-02-01 | $364,761 (12.2%) | $641,134 (33.0%) | 0.00 | 136 |
2021-03-01 | $348,678 (3.3%) | $626,695 (26.8%) | 0.00 | 127 |
2021-04-01 | $358,766 (5.6%) | $668,120 (38.4%) | 0.00 | 132 |
2021-05-01 | $360,000 (5.9%) | $681,865 (40.3%) | 0.00 | 150 |
2021-06-01 | $364,675 (0.5%) | $667,801 (28.2%) | 0.00 | 168 |
2021-07-01 | $360,000 (-1.9%) | $638,071 (20.4%) | 0.00 | 187 |
2021-08-01 | $367,450 (-2.0%) | $621,239 (8.6%) | 0.00 | 206 |
2021-09-01 | $367,000 (-8.0%) | $597,435 (-1.0%) | 0.00 | 191 |
2021-10-01 | $397,450 (-0.6%) | $651,362 (-1.2%) | 0.00 | 174 |
2021-11-01 | $402,425 (5.9%) | $675,168 (6.2%) | 0.00 | 144 |
2021-12-01 | $398,950 (10.0%) | $662,433 (5.0%) | 0.00 | 124 |
2022-01-01 | $359,450 (0.9%) | $621,724 (2.0%) | 0.00 | 88 |
2022-02-01 | $383,225 (5.1%) | $632,531 (-1.3%) | 0.00 | 75 |
2022-03-01 | $377,975 (8.4%) | $624,954 (-0.3%) | 0.00 | 84 |
2022-04-01 | $410,000 (14.3%) | $616,129 (-7.8%) | 0.00 | 103 |
2022-05-01 | $399,950 (11.1%) | $621,807 (-8.8%) | 0.00 | 137 |
2022-06-01 | $429,900 (17.9%) | $637,613 (-4.5%) | 0.00 | 181 |
2022-07-01 | $425,000 (18.1%) | $586,192 (-8.1%) | 0.00 | 233 |
2022-08-01 | $431,197 (17.4%) | $587,014 (-5.5%) | 0.00 | 248 |
2022-09-01 | $439,675 (19.8%) | $606,697 (1.6%) | 0.00 | 230 |
2022-10-01 | $422,000 (6.2%) | $612,548 (-6.0%) | 0.00 | 233 |
2022-11-01 | $399,225 (-0.8%) | $572,483 (-15.2%) | 0.00 | 234 |
2022-12-01 | $389,900 (-2.3%) | $563,390 (-15.0%) | 0.00 | 190 |
2023-01-01 | $396,088 (10.2%) | $547,403 (-12.0%) | 0.00 | 156 |
2023-02-01 | $399,788 (4.3%) | $605,528 (-4.3%) | 0.00 | 123 |
2023-03-01 | $399,995 (5.8%) | $663,594 (6.2%) | 0.00 | 115 |
2023-04-01 | $459,000 (12.0%) | $718,191 (16.6%) | 0.00 | 122 |
2023-05-01 | $459,675 (14.9%) | $698,632 (12.4%) | 0.00 | 137 |
2023-06-01 | $473,725 (10.2%) | $690,668 (8.3%) | 0.00 | 140 |
2023-07-01 | $449,900 (5.9%) | $641,820 (9.5%) | 0.00 | 156 |
2023-08-01 | $433,450 (0.5%) | $703,833 (19.9%) | 0.00 | 172 |
2023-09-01 | $429,900 (-2.2%) | $703,368 (15.9%) | 0.00 | 198 |
2023-10-01 | $422,450 (0.1%) | $702,743 (14.7%) | 0.00 | 218 |
2023-11-01 | $406,225 (1.8%) | $686,103 (19.9%) | 0.00 | 205 |
2023-12-01 | $412,450 (5.8%) | $689,221 (22.3%) | 0.00 | 179 |
2024-01-01 | $402,425 (1.6%) | $605,523 (10.6%) | 0.00 | 152 |
2024-02-01 | $423,500 (5.9%) | $627,773 (3.7%) | 0.00 | 138 |
2024-03-01 | $475,000 (18.8%) | $655,123 (-1.3%) | 0.00 | 145 |
2024-04-01 | $472,793 (3.0%) | $684,468 (-4.7%) | 0.00 | 160 |
2024-05-01 | $470,863 (2.4%) | $707,878 (1.3%) | 0.00 | 193 |
2024-06-01 | $464,863 (-1.9%) | $725,215 (5.0%) | 0.00 | 230 |
2024-07-01 | $438,663 (-2.5%) | $715,759 (11.5%) | 0.00 | 239 |
2024-08-01 | $429,000 (-1.0%) | $690,670 (-1.9%) | 0.00 | 271 |
2024-09-01 | $423,725 (-1.4%) | $677,185 (-3.7%) | 0.00 | 261 |
Holland's median listing price comes in at 0% of the national average.
Holland's average listing price for 2024-09-01 was $677,185, a difference of $-26,183 (-3.7%) versus the prior year and $-13,485 versus the prior month.
For the 2024-09-01 period, Holland had 261 MLS listings, a difference of -10 listings (-4%) versus the prior month and 63 listings (32%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Holland (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,037 sqft |
2018-02-01 | 0 days | 2,055 sqft |
2018-03-01 | 0 days | 2,090 sqft |
2018-04-01 | 0 days | 2,002 sqft |
2018-05-01 | 0 days | 2,041 sqft |
2018-06-01 | 0 days | 2,059 sqft |
2018-07-01 | 0 days | 2,062 sqft |
2018-08-01 | 0 days | 2,017 sqft |
2018-09-01 | 0 days | 1,955 sqft |
2018-10-01 | 0 days | 2,013 sqft |
2018-11-01 | 0 days | 2,032 sqft |
2018-12-01 | 0 days | 2,000 sqft |
2019-01-01 | 0 days | 1,927 sqft |
2019-02-01 | 0 days | 1,914 sqft |
2019-03-01 | 0 days | 1,959 sqft |
2019-04-01 | 0 days | 1,995 sqft |
2019-05-01 | 0 days | 1,979 sqft |
2019-06-01 | 0 days | 2,028 sqft |
2019-07-01 | 0 days | 2,084 sqft |
2019-08-01 | 0 days | 2,073 sqft |
2019-09-01 | 0 days | 2,052 sqft |
2019-10-01 | 0 days | 2,028 sqft |
2019-11-01 | 0 days | 2,007 sqft |
2019-12-01 | 0 days | 1,993 sqft |
2020-01-01 | 0 days | 1,976 sqft |
2020-02-01 | 0 days | 2,002 sqft |
2020-03-01 | 0 days | 1,984 sqft |
2020-04-01 | 0 days | 2,016 sqft |
2020-05-01 | 0 days | 2,023 sqft |
2020-06-01 | 0 days | 2,018 sqft |
2020-07-01 | 0 days | 2,009 sqft |
2020-08-01 | 0 days | 2,069 sqft |
2020-09-01 | 0 days | 2,215 sqft |
2020-10-01 | 0 days | 2,193 sqft |
2020-11-01 | 0 days | 2,151 sqft |
2020-12-01 | 0 days | 2,115 sqft |
2021-01-01 | 0 days | 2,167 sqft |
2021-02-01 | 0 days | 2,187 sqft |
2021-03-01 | 0 days | 2,152 sqft |
2021-04-01 | 0 days | 2,136 sqft |
2021-05-01 | 0 days | 2,005 sqft |
2021-06-01 | 0 days | 1,996 sqft |
2021-07-01 | 0 days | 1,980 sqft |
2021-08-01 | 0 days | 2,074 sqft |
2021-09-01 | 0 days | 1,994 sqft |
2021-10-01 | 0 days | 2,069 sqft |
2021-11-01 | 0 days | 2,068 sqft |
2021-12-01 | 0 days | 2,068 sqft |
2022-01-01 | 0 days | 2,073 sqft |
2022-02-01 | 0 days | 2,072 sqft |
2022-03-01 | 0 days | 2,091 sqft |
2022-04-01 | 0 days | 2,169 sqft |
2022-05-01 | 0 days | 2,103 sqft |
2022-06-01 | 0 days | 2,149 sqft |
2022-07-01 | 0 days | 2,150 sqft |
2022-08-01 | 0 days | 2,050 sqft |
2022-09-01 | 0 days | 2,074 sqft |
2022-10-01 | 0 days | 2,112 sqft |
2022-11-01 | 0 days | 2,038 sqft |
2022-12-01 | 0 days | 1,992 sqft |
2023-01-01 | 0 days | 1,996 sqft |
2023-02-01 | 0 days | 2,067 sqft |
2023-03-01 | 0 days | 2,058 sqft |
2023-04-01 | 0 days | 2,069 sqft |
2023-05-01 | 0 days | 2,166 sqft |
2023-06-01 | 0 days | 2,184 sqft |
2023-07-01 | 0 days | 2,137 sqft |
2023-08-01 | 0 days | 2,203 sqft |
2023-09-01 | 0 days | 2,146 sqft |
2023-10-01 | 0 days | 2,120 sqft |
2023-11-01 | 0 days | 2,088 sqft |
2023-12-01 | 0 days | 2,133 sqft |
2024-01-01 | 0 days | 2,019 sqft |
2024-02-01 | 0 days | 2,071 sqft |
2024-03-01 | 0 days | 2,099 sqft |
2024-04-01 | 0 days | 2,160 sqft |
2024-05-01 | 0 days | 2,091 sqft |
2024-06-01 | 0 days | 2,112 sqft |
2024-07-01 | 0 days | 2,034 sqft |
2024-08-01 | 0 days | 1,981 sqft |
2024-09-01 | 0 days | 1,969 sqft |
Holland's median square footage for active listings during the 2024-09-01 period was 1,969 sqft. One year prior, the average listing was 2,146 sqft.