Janesville FHA Loan Rates, Closing Costs & Stats

JANESVILLE-BELOIT, WI

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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.

    Janesville's 71 lenders originated 344 FHA loans during 2024. The total origination value was $77,410,000, with an average FHA loan value of $225,029.

    Janesville FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Janesville averaged 6.58% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Janesville's average FHA mortgage closing costs are $7,052.

    The average rate for the prior week (2025-03-28) was 6.58% and one month ago for the week of 2025-02-28, the average rate was 6.47%.

    The average rate one year ago was 6.88%.

    For refis of the same type during the week of 2025-04-04, the average rate was 5.99%.

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

    Janesville 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 Janesville level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    QUICKEN LOANS, LLC 42 6.35% $9,861
    GUILD MORTGAGE COMPANY 40 6.96% $10,423
    THOMPSON KANE & COMPANY, LLC 25 6.85% $9,657
    UNITED WHOLESALE MORTGAGE, LLC 17 6.08% $13,231
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 15 7.04% $9,095
    FREEDOM MORTGAGE CORPORATION 10 6.67% $10,250
    U.S. Bank 9 6.79% $7,230
    CARDINAL FINANCIAL 8 7.09% $14,272
    Bell Bank 7 6.45% $11,255
    SECURITYNATIONAL MORTGAGE COMPANY 6 7.25% $12,690
    PENNYMAC LOAN SERVICES, LLC 6 6.17% $6,939
    NEWREZ LLC 6 6.33% $10,706
    Nations Lending Corporation 6 6.46% $8,535
    LOANDEPOT.COM, LLC 6 6.35% $8,628
    BROKER SOLUTIONS, INC. 6 6.98% $10,697
    UNION HOME MORTGAGE CORP. 6 6.65% $9,175
    CROSSCOUNTRY MORTGAGE, LLC 5 6.41% $9,856
    ENDEAVOR CAPITAL, LLC. 5 6.17% $9,433
    PLANET HOME LENDING, LLC 5 6.12% $8,570
    Prosperity Home Mortgage, LLC 5 6.50% $8,635
    First Mid Bank & Trust 5 7.15% $6,904
    MORTGAGE CENTER L.C 5 7.23% $9,874
    Barrington Bank & Trust Company, N.A. 4 6.59% $7,624
    Equity Prime Mortgage LLC 4 7.72% $8,176
    GREENSTATE CREDIT UNION 3 6.29% $6,142
    Carrington Mortgage Services, LLC 3 6.58% $11,177
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.88% $8,390
    Paramount Residential Mortgage Group, Inc. 2 7.56% $12,222
    Associated Bank 2 6.31% $5,707
    WISCONSIN MORTGAGE CORPORATION 2 6.69% $6,198
    Old National Bank 2 6.00% $7,910
    Blue Ridge Bank 2 6.56% $10,782
    Mr. Cooper ( Nationstar Mortgage ) 2 7.13% $12,059
    Ixonia Bank 2 6.75% $11,287
    Bank Five Nine 2 6.63% $9,208
    Mortgage Research Center, LLC 2 6.50% $7,747
    S1L, Inc. 2 7.13% $13,750
    Flagstar Bank, FSB 2 7.00% $7,010
    ROYAL UNITED MORTGAGE LLC 2 6.50% $8,601
    ENVOY MORTGAGE, LTD 2 7.38% $12,964
    ZILLOW HOME LOANS, LLC 1 6.25% $11,321
    AMERICAN FINANCIAL NETWORK, INC. 1 5.75% $15,623
    AMERICAN FINANCING CORPORATION 1 6.25% $17,879
    American Mortgage & Equity Consultants, Inc. 1 6.63% $11,629
    AMERISAVE MORTGAGE CORPORATION 1 7.25% $9,765
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.75% $7,690
    Bank of England 1 7.25% $11,417
    BAY EQUITY LLC 1 7.63% $10,768
    BMO Harris Bank 1 6.75% $7,117
    Century Mortgage Company DBA Century Lending Company 1 6.63% $9,207
    CMG MORTGAGE, INC. 1 7.38% $7,960
    DAS Acquisition Company, LLC 1 6.75% $11,027
    DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 7.13% $9,629
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 7.88% $9,289
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.00% $3,723
    Independent Bank 1 6.75% $11,162
    JPMorgan Chase Bank 1 7.25% $6,242
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $8,099
    LAND HOME FINANCIAL SERVICES, INC. 1 8.00% $9,159
    LOANPAL, LLC 1 5.25% $6,530
    MUTUAL OF OMAHA MORTGAGE, INC. 1 7.75% $11,257
    NATIONS DIRECT MORTGAGE, LLC 1 7.25% $9,720
    OCMBC, INC. 1 8.25% $15,492
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $13,902
    Summit Mortgage Corporation 1 7.50% $12,102
    TOP FLITE FINANCIAL, INC. 1 7.13% $15,164
    TOWNE MORTGAGE COMPANY 1 6.75% $7,687
    Truist 1 6.25% $8,913
    University of Wisconsin Credit Union 1 6.50% $12,302
    Waukesha State Bank 1 6.50% $8,866
    ALAMEDA MORTGAGE CORPORATION 1 6.63% $7,481

    The top Janesville FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 42 FHA loans originated. Their average total fees are $9,861, which is $562 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Janesville FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($9,095), THOMPSON KANE & COMPANY, LLC ($9,657), QUICKEN LOANS, LLC ($9,861), FREEDOM MORTGAGE CORPORATION ($10,250) and GUILD MORTGAGE COMPANY ($10,423).

    The lowest rate Janesville FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.08%), QUICKEN LOANS, LLC (6.35%), FREEDOM MORTGAGE CORPORATION (6.67%), THOMPSON KANE & COMPANY, LLC (6.85%) and GUILD MORTGAGE COMPANY (6.96%).

    Janesville FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    JANESVILLE-BELOIT, WI ROCK 2022 $420,680 $538,650 $651,050 $809,150
    JANESVILLE-BELOIT, WI ROCK 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Janesville (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 $166,700 (19.2%) $211,242 (14.1%) 0.62 307
    2018-02-01 $160,950 (12.7%) $211,298 (11.9%) 0.58 279
    2018-03-01 $182,000 (17.5%) $227,617 (15.0%) 0.64 233
    2018-04-01 $186,950 (11.3%) $229,985 (7.4%) 0.63 244
    2018-05-01 $185,450 (8.5%) $229,684 (5.5%) 0.62 247
    2018-06-01 $200,000 (18.4%) $239,854 (9.6%) 0.67 279
    2018-07-01 $206,635 (18.5%) $243,303 (8.1%) 0.69 317
    2018-08-01 $209,600 (19.8%) $242,822 (8.3%) 0.70 404
    2018-09-01 $194,700 (11.3%) $234,102 (6.1%) 0.65 434
    2018-10-01 $192,450 (10.0%) $232,636 (4.9%) 0.65 440
    2018-11-01 $194,900 (10.1%) $240,306 (11.8%) 0.66 410
    2018-12-01 $184,900 (8.8%) $229,095 (6.8%) 0.64 378
    2019-01-01 $188,400 (13.0%) $235,973 (11.7%) 0.65 338
    2019-02-01 $189,950 (18.0%) $237,326 (12.3%) 0.64 289
    2019-03-01 $211,976 (16.5%) $247,228 (8.6%) 0.69 284
    2019-04-01 $219,476 (17.4%) $247,454 (7.6%) 0.70 300
    2019-05-01 $224,950 (21.3%) $254,881 (11.0%) 0.70 327
    2019-06-01 $225,000 (12.5%) $258,173 (7.6%) 0.70 313
    2019-07-01 $227,425 (10.1%) $258,880 (6.4%) 0.71 336
    2019-08-01 $227,173 (8.4%) $258,660 (6.5%) 0.72 361
    2019-09-01 $223,082 (14.6%) $256,402 (9.5%) 0.71 385
    2019-10-01 $218,900 (13.7%) $253,286 (8.9%) 0.71 400
    2019-11-01 $214,900 (10.3%) $245,742 (2.3%) 0.70 358
    2019-12-01 $214,900 (16.2%) $239,766 (4.7%) 0.72 335
    2020-01-01 $210,175 (11.6%) $237,395 (0.6%) 0.70 312
    2020-02-01 $214,100 (12.7%) $241,836 (1.9%) 0.70 253
    2020-03-01 $214,950 (1.4%) $247,097 (-0.1%) 0.67 249
    2020-04-01 $218,900 (-0.3%) $239,060 (-3.4%) 0.69 267
    2020-05-01 $221,450 (-1.6%) $247,752 (-2.8%) 0.67 241
    2020-06-01 $219,650 (-2.4%) $256,738 (-0.6%) 0.65 214
    2020-07-01 $229,900 (1.1%) $266,507 (3.0%) 0.67 200
    2020-08-01 $249,000 (9.6%) $277,667 (7.4%) 0.71 219
    2020-09-01 $219,825 (-1.5%) $271,170 (5.8%) 0.63 206
    2020-10-01 $219,900 (0.5%) $271,129 (7.0%) 0.63 208
    2020-11-01 $212,450 (-1.1%) $257,217 (4.7%) 0.62 209
    2020-12-01 $209,950 (-2.3%) $252,631 (5.4%) 0.62 165
    2021-01-01 $225,950 (7.5%) $253,471 (6.8%) 0.67 136
    2021-02-01 $224,900 (5.0%) $257,910 (6.7%) 0.65 126
    2021-03-01 $228,425 (6.3%) $269,132 (8.9%) 0.65 102
    2021-04-01 $247,900 (13.3%) $291,762 (22.1%) 0.67 112
    2021-05-01 $229,000 (3.4%) $277,369 (12.0%) 0.61 139
    2021-06-01 $227,450 (3.6%) $274,625 (7.0%) 0.60 158
    2021-07-01 $229,900 (0.0%) $271,777 (2.0%) 0.61 192
    2021-08-01 $229,950 (-7.7%) $265,220 (-4.5%) 0.61 217
    2021-09-01 $236,175 (7.4%) $268,981 (-0.8%) 0.63 242
    2021-10-01 $239,900 (9.1%) $273,005 (0.7%) 0.64 240
    2021-11-01 $236,925 (11.5%) $274,801 (6.8%) 0.63 208
    2021-12-01 $229,075 (9.1%) $276,391 (9.4%) 0.62 191
    2022-01-01 $249,900 (10.6%) $293,330 (15.7%) 0.68 152
    2022-02-01 $271,200 (20.6%) $318,967 (23.7%) 0.71 128
    2022-03-01 $273,450 (19.7%) $328,441 (22.0%) 0.68 132
    2022-04-01 $289,900 (16.9%) $324,559 (11.2%) 0.69 158
    2022-05-01 $289,900 (26.6%) $313,095 (12.9%) 0.66 179
    2022-06-01 $292,475 (28.6%) $324,397 (18.1%) 0.65 193
    2022-07-01 $289,900 (26.1%) $323,567 (19.1%) 0.65 228
    2022-08-01 $293,200 (27.5%) $332,911 (25.5%) 0.68 235
    2022-09-01 $299,675 (26.9%) $341,677 (27.0%) 0.70 233
    2022-10-01 $305,983 (27.6%) $341,394 (25.1%) 0.72 250
    2022-11-01 $299,975 (26.6%) $339,471 (23.5%) 0.72 249
    2022-12-01 $299,900 (30.9%) $347,040 (25.6%) 0.74 197
    2023-01-01 $301,250 (20.6%) $353,176 (20.4%) 0.75 163
    2023-02-01 $312,450 (15.2%) $357,148 (12.0%) 0.75 129
    2023-03-01 $331,100 (21.1%) $366,083 (11.5%) 0.78 132
    2023-04-01 $338,442 (16.7%) $366,218 (12.8%) 0.79 131
    2023-05-01 $328,014 (13.2%) $362,086 (15.7%) 0.74 154
    2023-06-01 $324,100 (10.8%) $359,574 (10.8%) 0.73 175
    2023-07-01 $331,439 (14.3%) $353,897 (9.4%) 0.75 182
    2023-08-01 $324,900 (10.8%) $352,721 (6.0%) 0.75 204
    2023-09-01 $319,900 (6.8%) $340,795 (-0.3%) 0.74 220
    2023-10-01 $322,400 (5.4%) $341,024 (-0.1%) 0.76 228
    2023-11-01 $304,906 (1.6%) $331,645 (-2.3%) 0.73 241
    2023-12-01 $299,900 (0.0%) $318,716 (-8.2%) 0.73 221
    2024-01-01 $299,900 (-0.5%) $318,055 (-9.9%) 0.73 189
    2024-02-01 $315,000 (0.8%) $330,337 (-7.5%) 0.76 173
    2024-03-01 $329,450 (-0.5%) $354,920 (-3.1%) 0.78 169
    2024-04-01 $341,101 (0.8%) $373,684 (2.0%) 0.79 173
    2024-05-01 $334,900 (2.1%) $375,748 (3.8%) 0.76 180
    2024-06-01 $339,900 (4.9%) $381,289 (6.0%) 0.77 197
    2024-07-01 $328,650 (-0.8%) $363,896 (2.8%) 0.75 230
    2024-08-01 $325,000 (0.0%) $362,468 (2.8%) 0.76 244
    2024-09-01 $331,903 (3.8%) $370,482 (8.7%) 0.78 268
    2024-10-01 $331,200 (2.7%) $365,437 (7.2%) 0.78 287
    2024-11-01 $321,950 (5.6%) $351,799 (6.1%) 0.77 256
    2024-12-01 $327,475 (9.2%) $354,352 (11.2%) 0.81 234
    2025-01-01 $336,700 (12.3%) $355,608 (11.8%) 0.84 202
    2025-02-01 $342,225 (8.6%) $357,553 (8.2%) 0.83 185
    2025-03-01 $337,773 (2.5%) $358,593 (1.0%) 0.00 198
    Janesville's median listing price for 2025-03-01 was $337,773, a difference of $8,323 (2.5%) versus the prior year and $-4,452 versus the prior month.

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

    Janesville's average listing price for 2025-03-01 was $358,593, a difference of $3,673 (1.0%) versus the prior year and $1,040 versus the prior month.

    For the 2025-03-01 period, Janesville had 198 MLS listings, a difference of 13 listings (7%) versus the prior month and 29 listings (17%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Janesville (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 79 days 1,651 sqft
    2018-02-01 81 days 1,634 sqft
    2018-03-01 58 days 1,675 sqft
    2018-04-01 40 days 1,731 sqft
    2018-05-01 38 days 1,745 sqft
    2018-06-01 40 days 1,787 sqft
    2018-07-01 38 days 1,793 sqft
    2018-08-01 38 days 1,769 sqft
    2018-09-01 43 days 1,752 sqft
    2018-10-01 48 days 1,721 sqft
    2018-11-01 54 days 1,727 sqft
    2018-12-01 68 days 1,652 sqft
    2019-01-01 77 days 1,681 sqft
    2019-02-01 88 days 1,719 sqft
    2019-03-01 77 days 1,773 sqft
    2019-04-01 54 days 1,800 sqft
    2019-05-01 46 days 1,834 sqft
    2019-06-01 46 days 1,831 sqft
    2019-07-01 44 days 1,855 sqft
    2019-08-01 46 days 1,867 sqft
    2019-09-01 49 days 1,862 sqft
    2019-10-01 52 days 1,854 sqft
    2019-11-01 64 days 1,803 sqft
    2019-12-01 70 days 1,770 sqft
    2020-01-01 74 days 1,735 sqft
    2020-02-01 74 days 1,718 sqft
    2020-03-01 60 days 1,737 sqft
    2020-04-01 48 days 1,747 sqft
    2020-05-01 54 days 1,770 sqft
    2020-06-01 63 days 1,791 sqft
    2020-07-01 56 days 1,784 sqft
    2020-08-01 46 days 1,847 sqft
    2020-09-01 47 days 1,802 sqft
    2020-10-01 40 days 1,784 sqft
    2020-11-01 44 days 1,734 sqft
    2020-12-01 51 days 1,686 sqft
    2021-01-01 54 days 1,683 sqft
    2021-02-01 40 days 1,635 sqft
    2021-03-01 40 days 1,702 sqft
    2021-04-01 28 days 1,757 sqft
    2021-05-01 29 days 1,755 sqft
    2021-06-01 33 days 1,697 sqft
    2021-07-01 34 days 1,701 sqft
    2021-08-01 30 days 1,699 sqft
    2021-09-01 31 days 1,676 sqft
    2021-10-01 37 days 1,633 sqft
    2021-11-01 45 days 1,633 sqft
    2021-12-01 53 days 1,606 sqft
    2022-01-01 58 days 1,695 sqft
    2022-02-01 57 days 1,777 sqft
    2022-03-01 25 days 1,793 sqft
    2022-04-01 31 days 1,784 sqft
    2022-05-01 36 days 1,751 sqft
    2022-06-01 38 days 1,766 sqft
    2022-07-01 34 days 1,784 sqft
    2022-08-01 44 days 1,784 sqft
    2022-09-01 49 days 1,784 sqft
    2022-10-01 45 days 1,784 sqft
    2022-11-01 46 days 1,805 sqft
    2022-12-01 55 days 1,825 sqft
    2023-01-01 71 days 1,815 sqft
    2023-02-01 55 days 1,847 sqft
    2023-03-01 37 days 1,844 sqft
    2023-04-01 39 days 1,810 sqft
    2023-05-01 32 days 1,812 sqft
    2023-06-01 31 days 1,797 sqft
    2023-07-01 40 days 1,760 sqft
    2023-08-01 37 days 1,658 sqft
    2023-09-01 44 days 1,700 sqft
    2023-10-01 42 days 1,660 sqft
    2023-11-01 44 days 1,601 sqft
    2023-12-01 55 days 1,580 sqft
    2024-01-01 63 days 1,579 sqft
    2024-02-01 51 days 1,593 sqft
    2024-03-01 32 days 1,667 sqft
    2024-04-01 37 days 1,695 sqft
    2024-05-01 36 days 1,722 sqft
    2024-06-01 39 days 1,804 sqft
    2024-07-01 36 days 1,715 sqft
    2024-08-01 38 days 1,716 sqft
    2024-09-01 39 days 1,761 sqft
    2024-10-01 43 days 1,718 sqft
    2024-11-01 58 days 1,718 sqft
    2024-12-01 63 days 1,701 sqft
    2025-01-01 65 days 1,666 sqft
    2025-02-01 56 days 1,677 sqft
    2025-03-01 0 days 1,667 sqft
    Janesville's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Janesville's median square footage for active listings during the 2025-03-01 period was 1,667 sqft. One year prior, the average listing was 1,667 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).