Janesville FHA Loan Rates, Closing Costs & Stats

JANESVILLE-BELOIT, 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.

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 0.12% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

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

The average rate for the prior week (2025-06-13) was 6.61% and one month ago for the week of 2025-05-16, the average rate was 6.67%.

The average rate one year ago was 7.02%.

For refis of the same type during the week of 2025-06-20, the average rate was -0.47%.

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

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).