Houghton FHA Loan Rates, Closing Costs & Stats
Houghton, 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.
Houghton's 9 lenders originated 23 FHA loans during 2023. The total origination value was $2,865,000, with an average FHA loan value of $124,565.
Houghton FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Houghton
averaged
7.06%
for the week of 2025-02-14, compared to the national average (all FHA variants) of
6.515% for the same period.
Houghton's average FHA mortgage closing costs are $5,456.
The average rate for the prior week (2025-02-07) was
6.67% and
one month ago for the week of 2025-01-10, the
average rate was 6.73%.
The average rate one year ago was 6.76%.
For refis of the same type during the week of 2025-02-14, the average rate
was 6.32%.
Houghton 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 Houghton level.
Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
---|---|---|---|
QUICKEN LOANS, LLC | 12 | 6.47% | $7,384 |
UNITED WHOLESALE MORTGAGE, LLC | 3 | 6.42% | $7,519 |
CROSSCOUNTRY MORTGAGE, LLC | 1 | 7.75% | $7,245 |
Flagstar Bank, FSB | 1 | 6.75% | $6,140 |
AMERICAN FINANCING CORPORATION | 1 | 6.75% | $6,078 |
MUTUAL OF OMAHA MORTGAGE, INC. | 1 | 7.63% | $8,692 |
PREMIER MORTGAGE RESOURCES, L.L.C. | 1 | 6.88% | $4,256 |
LOANDEPOT.COM, LLC | 1 | 6.25% | $7,707 |
BROKER SOLUTIONS, INC. | 1 | 6.25% | $11,995 |
The top Houghton FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
12 FHA loans originated. Their average total fees are
$7,384, which is $134
lower than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee Houghton FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($7,384), .
The lowest rate Houghton FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.47%), .
Houghton FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
HOUGHTON, MI | HOUGHTON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
HOUGHTON, MI | KEWEENAW | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
HOUGHTON, MI | HOUGHTON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
HOUGHTON, MI | KEWEENAW | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Houghton (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 | $119,975 (7.6%) | $188,822 (17.7%) | 0.00 | 174 |
2018-02-01 | $124,375 (12.4%) | $191,157 (20.2%) | 0.00 | 170 |
2018-03-01 | $142,450 (19.0%) | $205,596 (30.3%) | 0.00 | 170 |
2018-04-01 | $152,675 (13.2%) | $224,633 (28.8%) | 0.00 | 165 |
2018-05-01 | $153,450 (-3.2%) | $223,789 (12.8%) | 0.00 | 183 |
2018-06-01 | $155,000 (8.5%) | $214,782 (8.0%) | 0.00 | 247 |
2018-07-01 | $153,950 (10.0%) | $207,572 (4.1%) | 0.00 | 260 |
2018-08-01 | $147,500 (6.1%) | $203,458 (1.8%) | 0.00 | 264 |
2018-09-01 | $134,950 (3.9%) | $191,065 (-0.4%) | 0.00 | 253 |
2018-10-01 | $134,900 (-0.8%) | $189,905 (-2.9%) | 0.00 | 228 |
2018-11-01 | $137,975 (-0.9%) | $197,870 (-1.6%) | 0.00 | 195 |
2018-12-01 | $140,950 (10.6%) | $199,707 (3.7%) | 0.00 | 167 |
2019-01-01 | $131,250 (9.4%) | $198,650 (5.2%) | 0.00 | 136 |
2019-02-01 | $130,750 (5.1%) | $203,706 (6.6%) | 0.00 | 127 |
2019-03-01 | $152,043 (6.7%) | $223,317 (8.6%) | 0.00 | 124 |
2019-04-01 | $172,400 (12.9%) | $231,191 (2.9%) | 0.00 | 127 |
2019-05-01 | $163,175 (6.3%) | $230,798 (3.1%) | 0.00 | 172 |
2019-06-01 | $179,000 (15.5%) | $227,164 (5.8%) | 0.00 | 214 |
2019-07-01 | $165,075 (7.2%) | $212,059 (2.2%) | 0.00 | 241 |
2019-08-01 | $156,600 (6.2%) | $205,089 (0.8%) | 0.00 | 243 |
2019-09-01 | $152,325 (12.9%) | $199,341 (4.3%) | 0.00 | 241 |
2019-10-01 | $146,950 (8.9%) | $193,118 (1.7%) | 0.00 | 238 |
2019-11-01 | $139,000 (0.7%) | $186,822 (-5.6%) | 0.00 | 207 |
2019-12-01 | $145,075 (2.9%) | $194,571 (-2.6%) | 0.00 | 183 |
2020-01-01 | $148,850 (13.4%) | $193,952 (-2.4%) | 0.00 | 143 |
2020-02-01 | $153,750 (17.6%) | $202,187 (-0.8%) | 0.00 | 126 |
2020-03-01 | $182,000 (19.7%) | $224,898 (0.7%) | 0.00 | 121 |
2020-04-01 | $170,000 (-1.4%) | $220,045 (-4.8%) | 0.00 | 126 |
2020-05-01 | $167,500 (2.7%) | $224,321 (-2.8%) | 0.00 | 131 |
2020-06-01 | $167,125 (-6.6%) | $222,174 (-2.2%) | 0.00 | 143 |
2020-07-01 | $164,950 (-0.1%) | $226,070 (6.6%) | 0.00 | 150 |
2020-08-01 | $167,450 (6.9%) | $224,539 (9.5%) | 0.00 | 142 |
2020-09-01 | $169,000 (11.0%) | $236,115 (18.5%) | 0.00 | 119 |
2020-10-01 | $139,900 (-4.8%) | $237,845 (23.2%) | 0.00 | 91 |
2020-11-01 | $139,000 (0.0%) | $248,014 (32.8%) | 0.00 | 75 |
2020-12-01 | $149,450 (3.0%) | $265,830 (36.6%) | 0.00 | 55 |
2021-01-01 | $137,450 (-7.7%) | $256,662 (32.3%) | 0.00 | 46 |
2021-02-01 | $144,450 (-6.1%) | $290,803 (43.8%) | 0.00 | 41 |
2021-03-01 | $173,850 (-4.5%) | $318,458 (41.6%) | 0.00 | 37 |
2021-04-01 | $164,525 (-3.2%) | $309,376 (40.6%) | 0.00 | 44 |
2021-05-01 | $171,610 (2.5%) | $308,710 (37.6%) | 0.00 | 51 |
2021-06-01 | $163,625 (-2.1%) | $273,068 (22.9%) | 0.00 | 78 |
2021-07-01 | $180,000 (9.1%) | $272,200 (20.4%) | 0.00 | 82 |
2021-08-01 | $163,450 (-2.4%) | $253,031 (12.7%) | 0.00 | 76 |
2021-09-01 | $147,475 (-12.7%) | $237,190 (0.5%) | 0.00 | 68 |
2021-10-01 | $157,000 (12.2%) | $229,631 (-3.5%) | 0.00 | 67 |
2021-11-01 | $150,000 (7.9%) | $285,025 (14.9%) | 0.00 | 54 |
2021-12-01 | $151,000 (1.0%) | $292,740 (10.1%) | 0.00 | 53 |
2022-01-01 | $145,000 (5.5%) | $322,601 (25.7%) | 0.00 | 36 |
2022-02-01 | $182,450 (26.3%) | $463,878 (59.5%) | 0.00 | 18 |
2022-03-01 | $244,700 (40.8%) | $586,496 (84.2%) | 0.00 | 15 |
2022-04-01 | $232,250 (41.2%) | $447,871 (44.8%) | 0.00 | 17 |
2022-05-01 | $186,175 (8.5%) | $410,839 (33.1%) | 0.00 | 23 |
2022-06-01 | $214,500 (31.1%) | $379,879 (39.1%) | 0.00 | 37 |
2022-07-01 | $247,450 (37.5%) | $373,611 (37.3%) | 0.00 | 51 |
2022-08-01 | $252,400 (54.4%) | $357,228 (41.2%) | 0.00 | 57 |
2022-09-01 | $195,950 (32.9%) | $316,628 (33.5%) | 0.00 | 59 |
2022-10-01 | $177,000 (12.7%) | $316,663 (37.9%) | 0.00 | 57 |
2022-11-01 | $195,500 (30.3%) | $329,969 (15.8%) | 0.00 | 49 |
2022-12-01 | $259,900 (72.1%) | $353,161 (20.6%) | 0.00 | 34 |
2023-01-01 | $242,500 (67.2%) | $380,482 (17.9%) | 0.00 | 29 |
2023-02-01 | $261,250 (43.2%) | $302,172 (-34.9%) | 0.00 | 28 |
2023-03-01 | $263,750 (7.8%) | $338,405 (-42.3%) | 0.00 | 32 |
2023-04-01 | $214,000 (-7.9%) | $348,094 (-22.3%) | 0.00 | 35 |
2023-05-01 | $162,350 (-12.8%) | $318,977 (-22.4%) | 0.00 | 38 |
2023-06-01 | $164,700 (-23.2%) | $297,449 (-21.7%) | 0.00 | 48 |
2023-07-01 | $239,000 (-3.4%) | $360,267 (-3.6%) | 0.00 | 54 |
2023-08-01 | $244,000 (-3.3%) | $352,768 (-1.3%) | 0.00 | 65 |
2023-09-01 | $229,000 (16.9%) | $340,048 (7.4%) | 0.00 | 60 |
2023-10-01 | $204,500 (15.5%) | $322,731 (1.9%) | 0.00 | 58 |
2023-11-01 | $190,125 (-2.8%) | $290,733 (-11.9%) | 0.00 | 58 |
2023-12-01 | $178,000 (-31.5%) | $237,303 (-32.8%) | 0.00 | 56 |
2024-01-01 | $167,250 (-31.0%) | $225,335 (-40.8%) | 0.00 | 46 |
2024-02-01 | $167,000 (-36.1%) | $236,219 (-21.8%) | 0.00 | 41 |
2024-03-01 | $169,900 (-35.6%) | $234,152 (-30.8%) | 0.00 | 45 |
2024-04-01 | $186,675 (-12.8%) | $252,923 (-27.3%) | 0.00 | 38 |
2024-05-01 | $239,700 (47.6%) | $323,514 (1.4%) | 0.00 | 46 |
2024-06-01 | $263,950 (60.3%) | $334,466 (12.4%) | 0.00 | 62 |
2024-07-01 | $279,750 (17.1%) | $355,250 (-1.4%) | 0.00 | 86 |
2024-08-01 | $274,900 (12.7%) | $347,147 (-1.6%) | 0.00 | 91 |
2024-09-01 | $232,000 (1.3%) | $322,075 (-5.3%) | 0.00 | 97 |
2024-10-01 | $223,650 (9.4%) | $309,461 (-4.1%) | 0.00 | 98 |
2024-11-01 | $219,900 (15.7%) | $295,461 (1.6%) | 0.00 | 76 |
2024-12-01 | $232,125 (30.4%) | $313,066 (31.9%) | 0.00 | 67 |
2025-01-01 | $237,250 (41.9%) | $320,863 (42.4%) | 0.00 | 53 |
Houghton's median listing price comes in at 0% of the national average.
Houghton's average listing price for 2025-01-01 was $320,863, a difference of $95,528 (42.4%) versus the prior year and $7,797 versus the prior month.
For the 2025-01-01 period, Houghton had 53 MLS listings, a difference of -14 listings (-21%) versus the prior month and 7 listings (15%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Houghton (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,576 sqft |
2018-02-01 | 0 days | 1,573 sqft |
2018-03-01 | 0 days | 1,576 sqft |
2018-04-01 | 0 days | 1,592 sqft |
2018-05-01 | 0 days | 1,569 sqft |
2018-06-01 | 0 days | 1,595 sqft |
2018-07-01 | 0 days | 1,593 sqft |
2018-08-01 | 0 days | 1,580 sqft |
2018-09-01 | 0 days | 1,556 sqft |
2018-10-01 | 0 days | 1,553 sqft |
2018-11-01 | 0 days | 1,540 sqft |
2018-12-01 | 0 days | 1,572 sqft |
2019-01-01 | 0 days | 1,558 sqft |
2019-02-01 | 0 days | 1,578 sqft |
2019-03-01 | 0 days | 1,653 sqft |
2019-04-01 | 0 days | 1,704 sqft |
2019-05-01 | 0 days | 1,693 sqft |
2019-06-01 | 0 days | 1,698 sqft |
2019-07-01 | 0 days | 1,658 sqft |
2019-08-01 | 0 days | 1,665 sqft |
2019-09-01 | 0 days | 1,654 sqft |
2019-10-01 | 0 days | 1,643 sqft |
2019-11-01 | 0 days | 1,649 sqft |
2019-12-01 | 0 days | 1,625 sqft |
2020-01-01 | 0 days | 1,606 sqft |
2020-02-01 | 0 days | 1,588 sqft |
2020-03-01 | 0 days | 1,604 sqft |
2020-04-01 | 0 days | 1,588 sqft |
2020-05-01 | 0 days | 1,672 sqft |
2020-06-01 | 0 days | 1,626 sqft |
2020-07-01 | 0 days | 1,709 sqft |
2020-08-01 | 0 days | 1,672 sqft |
2020-09-01 | 0 days | 1,731 sqft |
2020-10-01 | 0 days | 1,588 sqft |
2020-11-01 | 0 days | 1,537 sqft |
2020-12-01 | 0 days | 1,588 sqft |
2021-01-01 | 0 days | 1,536 sqft |
2021-02-01 | 0 days | 1,575 sqft |
2021-03-01 | 0 days | 1,770 sqft |
2021-04-01 | 0 days | 1,885 sqft |
2021-05-01 | 0 days | 1,868 sqft |
2021-06-01 | 0 days | 1,732 sqft |
2021-07-01 | 0 days | 1,855 sqft |
2021-08-01 | 0 days | 1,818 sqft |
2021-09-01 | 0 days | 1,846 sqft |
2021-10-01 | 0 days | 1,829 sqft |
2021-11-01 | 0 days | 1,827 sqft |
2021-12-01 | 0 days | 1,773 sqft |
2022-01-01 | 0 days | 1,583 sqft |
2022-02-01 | 0 days | 1,468 sqft |
2022-03-01 | 0 days | 1,680 sqft |
2022-04-01 | 0 days | 1,824 sqft |
2022-05-01 | 0 days | 1,628 sqft |
2022-06-01 | 0 days | 1,762 sqft |
2022-07-01 | 0 days | 1,584 sqft |
2022-08-01 | 0 days | 1,737 sqft |
2022-09-01 | 0 days | 1,649 sqft |
2022-10-01 | 0 days | 1,556 sqft |
2022-11-01 | 0 days | 1,624 sqft |
2022-12-01 | 0 days | 1,656 sqft |
2023-01-01 | 0 days | 1,637 sqft |
2023-02-01 | 0 days | 1,653 sqft |
2023-03-01 | 0 days | 1,926 sqft |
2023-04-01 | 0 days | 1,840 sqft |
2023-05-01 | 0 days | 1,702 sqft |
2023-06-01 | 0 days | 1,653 sqft |
2023-07-01 | 0 days | 1,613 sqft |
2023-08-01 | 0 days | 1,438 sqft |
2023-09-01 | 0 days | 1,381 sqft |
2023-10-01 | 0 days | 1,410 sqft |
2023-11-01 | 0 days | 1,379 sqft |
2023-12-01 | 0 days | 1,380 sqft |
2024-01-01 | 0 days | 1,502 sqft |
2024-02-01 | 0 days | 1,446 sqft |
2024-03-01 | 0 days | 1,451 sqft |
2024-04-01 | 0 days | 1,825 sqft |
2024-05-01 | 0 days | 1,878 sqft |
2024-06-01 | 0 days | 1,844 sqft |
2024-07-01 | 0 days | 1,877 sqft |
2024-08-01 | 0 days | 1,880 sqft |
2024-09-01 | 0 days | 1,773 sqft |
2024-10-01 | 0 days | 1,729 sqft |
2024-11-01 | 0 days | 1,673 sqft |
2024-12-01 | 0 days | 1,706 sqft |
2025-01-01 | 0 days | 1,737 sqft |
Houghton's median square footage for active listings during the 2025-01-01 period was 1,737 sqft. One year prior, the average listing was 1,502 sqft.