La Crosse FHA Loan Rates, Closing Costs & Stats

LA CROSSE-ONALASKA, WI-MN

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.

La Crosse's 33 lenders originated 98 FHA loans during 2023. The total origination value was $22,720,000, with an average FHA loan value of $231,837.

La Crosse FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in La Crosse averaged 0.18% for the week of 2024-11-29, compared to the national average (all FHA variants) of 0% for the same period.

La Crosse's average FHA mortgage closing costs are $6,724.

The average rate for the prior week (2024-11-22) was 6.47% and one month ago for the week of 2024-10-25, the average rate was 6.15%.

The average rate one year ago was 7.24%.

For refis of the same type during the week of 2024-11-29, the average rate was 0.07%.

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

La Crosse 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 La Crosse level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 21 6.30% $9,695
CROSSCOUNTRY MORTGAGE, LLC 9 7.17% $11,961
UNITED WHOLESALE MORTGAGE, LLC 7 6.19% $13,012
EVERETT FINANCIAL, INC. 7 6.82% $12,723
UNION HOME MORTGAGE CORP. 4 7.09% $11,380
ALTRA 4 6.15% $8,115
Coulee Bank 3 6.67% $8,952
Servion, Inc. 3 6.54% $7,492
Associated Bank 3 6.38% $6,567
LAND HOME FINANCIAL SERVICES, INC. 2 6.19% $8,506
CARDINAL FINANCIAL 2 6.75% $19,539
ENDEAVOR CAPITAL, LLC. 2 6.62% $11,708
LAKEVIEW LOAN SERVICING, LLC 2 6.25% $15,628
PENNYMAC LOAN SERVICES, LLC 2 6.00% $13,303
Prosperity Home Mortgage, LLC 2 6.75% $10,082
University of Wisconsin Credit Union 1 7.13% $11,558
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.25% $9,684
LOANDEPOT.COM, LLC 1 6.13% $7,513
Mr. Cooper ( Nationstar Mortgage ) 1 5.63% $9,135
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $14,015
Paramount Residential Mortgage Group, Inc. 1 7.25% $15,845
U.S. Bank 1 6.75% $9,013
Plains Commerce Bank 1 7.75% $14,810
V.I.P. MORTGAGE, INC. 1 7.25% $14,304
Equity Prime Mortgage LLC 1 6.63% $9,697
CRESCENT MORTGAGE COMPANY 1 7.13% $7,103
The Federal Savings Bank 1 6.63% $6,046
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 6.12% $11,444
BMO Harris Bank 1 6.00% $6,993
AMERICAN FINANCING CORPORATION 1 5.25% $16,124
FREEDOM MORTGAGE CORPORATION 1 6.38% $11,350
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.50% $11,606
Home Federal Savings Bank 1 6.25% $9,919

The top La Crosse FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 21 FHA loans originated. Their average total fees are $9,695, which is $2,267 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee La Crosse FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($9,695), .

The lowest rate La Crosse FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.30%), .

La Crosse FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
LA CROSSE-ONALASKA, WI-MN HOUSTON 2022 $420,680 $538,650 $651,050 $809,150
LA CROSSE-ONALASKA, WI-MN LA CROSSE 2022 $420,680 $538,650 $651,050 $809,150
LA CROSSE-ONALASKA, WI-MN HOUSTON 2023 $472,030 $604,400 $730,525 $907,900
LA CROSSE-ONALASKA, WI-MN LA CROSSE 2023 $472,030 $604,400 $730,525 $907,900

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - La Crosse (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 $219,900 (5.0%) $262,148 (-3.0%) 0.82 283
2018-02-01 $237,400 (13.9%) $281,065 (3.4%) 0.86 272
2018-03-01 $239,900 (19.3%) $292,557 (8.4%) 0.84 270
2018-04-01 $256,575 (24.6%) $310,117 (15.3%) 0.87 274
2018-05-01 $249,900 (12.4%) $316,174 (15.8%) 0.83 314
2018-06-01 $244,900 (7.9%) $320,217 (16.7%) 0.82 357
2018-07-01 $242,400 (3.2%) $316,935 (11.7%) 0.81 379
2018-08-01 $243,900 (9.1%) $315,739 (15.5%) 0.82 395
2018-09-01 $249,900 (13.6%) $318,044 (16.9%) 0.84 387
2018-10-01 $249,500 (15.7%) $311,795 (18.0%) 0.85 368
2018-11-01 $244,175 (17.1%) $306,820 (20.9%) 0.83 338
2018-12-01 $240,000 (11.7%) $312,105 (25.0%) 0.83 291
2019-01-01 $244,500 (11.2%) $312,616 (19.3%) 0.84 239
2019-02-01 $256,175 (7.9%) $319,520 (13.7%) 0.87 233
2019-03-01 $259,900 (8.3%) $323,229 (10.5%) 0.85 245
2019-04-01 $259,900 (1.3%) $323,213 (4.2%) 0.83 286
2019-05-01 $259,425 (3.8%) $325,859 (3.1%) 0.81 310
2019-06-01 $249,900 (2.0%) $315,335 (-1.5%) 0.78 389
2019-07-01 $251,150 (3.6%) $315,601 (-0.4%) 0.79 397
2019-08-01 $249,900 (2.5%) $312,735 (-1.0%) 0.79 400
2019-09-01 $249,900 (0.0%) $308,084 (-3.1%) 0.80 407
2019-10-01 $249,900 (0.2%) $303,929 (-2.5%) 0.81 406
2019-11-01 $249,900 (2.3%) $303,095 (-1.2%) 0.82 361
2019-12-01 $249,900 (4.1%) $295,001 (-5.5%) 0.83 322
2020-01-01 $247,850 (1.4%) $290,788 (-7.0%) 0.83 278
2020-02-01 $259,900 (1.5%) $310,798 (-2.7%) 0.85 258
2020-03-01 $259,225 (-0.3%) $308,035 (-4.7%) 0.81 277
2020-04-01 $269,900 (3.9%) $314,019 (-2.8%) 0.85 273
2020-05-01 $265,000 (2.2%) $307,901 (-5.5%) 0.81 276
2020-06-01 $274,925 (10.0%) $311,548 (-1.2%) 0.81 286
2020-07-01 $288,085 (14.7%) $323,434 (2.5%) 0.84 290
2020-08-01 $269,900 (8.0%) $307,371 (-1.7%) 0.77 296
2020-09-01 $246,925 (-1.2%) $291,244 (-5.5%) 0.71 275
2020-10-01 $243,500 (-2.6%) $290,028 (-4.6%) 0.70 240
2020-11-01 $245,975 (-1.6%) $297,684 (-1.8%) 0.72 212
2020-12-01 $234,375 (-6.2%) $300,642 (1.9%) 0.70 178
2021-01-01 $250,500 (1.1%) $321,980 (10.7%) 0.75 127
2021-02-01 $266,150 (2.4%) $337,261 (8.5%) 0.77 123
2021-03-01 $292,400 (12.8%) $332,835 (8.1%) 0.83 120
2021-04-01 $304,475 (12.8%) $348,565 (11.0%) 0.82 120
2021-05-01 $315,800 (19.2%) $344,918 (12.0%) 0.84 124
2021-06-01 $304,675 (10.8%) $337,960 (8.5%) 0.80 129
2021-07-01 $286,250 (-0.6%) $326,439 (0.9%) 0.76 161
2021-08-01 $288,900 (7.0%) $329,973 (7.4%) 0.77 169
2021-09-01 $274,825 (11.3%) $320,321 (10.0%) 0.73 188
2021-10-01 $295,000 (21.2%) $323,815 (11.7%) 0.79 180
2021-11-01 $294,950 (19.9%) $323,443 (8.7%) 0.79 150
2021-12-01 $282,475 (20.5%) $329,298 (9.5%) 0.77 150
2022-01-01 $304,950 (21.7%) $341,480 (6.1%) 0.82 116
2022-02-01 $299,950 (12.7%) $342,124 (1.4%) 0.78 93
2022-03-01 $312,425 (6.9%) $361,655 (8.7%) 0.78 94
2022-04-01 $324,900 (6.7%) $370,716 (6.4%) 0.77 98
2022-05-01 $329,300 (4.3%) $384,194 (11.4%) 0.75 128
2022-06-01 $324,225 (6.4%) $382,388 (13.2%) 0.72 144
2022-07-01 $324,900 (13.5%) $386,071 (18.3%) 0.73 158
2022-08-01 $341,875 (18.3%) $400,422 (21.4%) 0.79 168
2022-09-01 $352,400 (28.2%) $398,908 (24.5%) 0.82 168
2022-10-01 $359,900 (22.0%) $398,639 (23.1%) 0.85 168
2022-11-01 $356,500 (20.9%) $372,384 (15.1%) 0.86 159
2022-12-01 $365,000 (29.2%) $376,665 (14.4%) 0.90 133
2023-01-01 $359,900 (18.0%) $375,788 (10.1%) 0.89 113
2023-02-01 $364,900 (21.7%) $375,825 (9.9%) 0.88 104
2023-03-01 $334,484 (7.1%) $351,221 (-2.9%) 0.79 112
2023-04-01 $359,900 (10.8%) $372,925 (0.6%) 0.84 124
2023-05-01 $342,400 (4.0%) $372,757 (-3.0%) 0.78 133
2023-06-01 $337,400 (4.1%) $385,689 (0.9%) 0.76 138
2023-07-01 $329,000 (1.3%) $383,523 (-0.7%) 0.75 135
2023-08-01 $355,833 (4.1%) $399,859 (-0.1%) 0.82 150
2023-09-01 $329,000 (-6.6%) $386,503 (-3.1%) 0.77 154
2023-10-01 $333,425 (-7.4%) $381,301 (-4.4%) 0.78 165
2023-11-01 $332,825 (-6.6%) $378,926 (1.8%) 0.79 158
2023-12-01 $339,900 (-6.9%) $374,679 (-0.5%) 0.83 155
2024-01-01 $342,400 (-4.9%) $384,985 (2.5%) 0.84 123
2024-02-01 $341,450 (-6.4%) $395,874 (5.3%) 0.82 112
2024-03-01 $377,450 (12.9%) $399,663 (13.8%) 0.89 122
2024-04-01 $379,900 (5.6%) $414,313 (11.1%) 0.88 145
2024-05-01 $408,700 (19.4%) $460,791 (23.6%) 0.92 150
2024-06-01 $410,000 (21.5%) $470,866 (22.1%) 0.92 168
2024-07-01 $379,900 (15.5%) $445,375 (16.1%) 0.87 176
2024-08-01 $372,450 (4.7%) $432,813 (8.2%) 0.87 197
2024-09-01 $360,225 (9.5%) $420,157 (8.7%) 0.85 211
2024-10-01 $379,300 (13.8%) $439,466 (15.3%) 0.89 227
La Crosse's median listing price for 2024-10-01 was $379,300, a difference of $45,875 (13.8%) versus the prior year and $19,075 versus the prior month.

La Crosse's median listing price comes in at 89% of the national average.

La Crosse's average listing price for 2024-10-01 was $439,466, a difference of $58,165 (15.3%) versus the prior year and $19,309 versus the prior month.

For the 2024-10-01 period, La Crosse had 227 MLS listings, a difference of 16 listings (8%) versus the prior month and 62 listings (38%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - La Crosse (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 73 days 1,921 sqft
2018-02-01 70 days 1,980 sqft
2018-03-01 51 days 1,951 sqft
2018-04-01 39 days 2,080 sqft
2018-05-01 35 days 2,038 sqft
2018-06-01 37 days 2,097 sqft
2018-07-01 41 days 2,114 sqft
2018-08-01 41 days 2,181 sqft
2018-09-01 46 days 2,208 sqft
2018-10-01 51 days 2,214 sqft
2018-11-01 58 days 2,200 sqft
2018-12-01 68 days 2,129 sqft
2019-01-01 77 days 1,988 sqft
2019-02-01 64 days 2,176 sqft
2019-03-01 50 days 2,162 sqft
2019-04-01 33 days 2,178 sqft
2019-05-01 32 days 2,156 sqft
2019-06-01 32 days 2,200 sqft
2019-07-01 37 days 2,134 sqft
2019-08-01 41 days 2,098 sqft
2019-09-01 43 days 2,065 sqft
2019-10-01 46 days 2,043 sqft
2019-11-01 54 days 2,014 sqft
2019-12-01 67 days 2,043 sqft
2020-01-01 80 days 2,067 sqft
2020-02-01 71 days 2,067 sqft
2020-03-01 44 days 2,058 sqft
2020-04-01 43 days 2,048 sqft
2020-05-01 51 days 2,036 sqft
2020-06-01 38 days 2,088 sqft
2020-07-01 42 days 2,276 sqft
2020-08-01 39 days 2,100 sqft
2020-09-01 41 days 1,912 sqft
2020-10-01 43 days 1,900 sqft
2020-11-01 45 days 1,847 sqft
2020-12-01 47 days 1,826 sqft
2021-01-01 54 days 1,852 sqft
2021-02-01 33 days 1,921 sqft
2021-03-01 24 days 1,952 sqft
2021-04-01 23 days 1,972 sqft
2021-05-01 19 days 1,973 sqft
2021-06-01 25 days 1,906 sqft
2021-07-01 21 days 1,835 sqft
2021-08-01 24 days 1,877 sqft
2021-09-01 31 days 1,902 sqft
2021-10-01 40 days 1,890 sqft
2021-11-01 44 days 1,926 sqft
2021-12-01 46 days 1,902 sqft
2022-01-01 58 days 2,000 sqft
2022-02-01 42 days 1,939 sqft
2022-03-01 13 days 1,885 sqft
2022-04-01 15 days 1,930 sqft
2022-05-01 14 days 1,915 sqft
2022-06-01 23 days 1,883 sqft
2022-07-01 23 days 1,880 sqft
2022-08-01 27 days 1,904 sqft
2022-09-01 34 days 1,970 sqft
2022-10-01 33 days 2,000 sqft
2022-11-01 42 days 2,003 sqft
2022-12-01 60 days 2,100 sqft
2023-01-01 72 days 1,942 sqft
2023-02-01 63 days 1,866 sqft
2023-03-01 31 days 1,865 sqft
2023-04-01 32 days 1,903 sqft
2023-05-01 31 days 1,880 sqft
2023-06-01 40 days 1,865 sqft
2023-07-01 44 days 1,872 sqft
2023-08-01 39 days 1,927 sqft
2023-09-01 39 days 1,892 sqft
2023-10-01 41 days 1,914 sqft
2023-11-01 41 days 1,906 sqft
2023-12-01 48 days 1,871 sqft
2024-01-01 67 days 1,871 sqft
2024-02-01 59 days 1,850 sqft
2024-03-01 38 days 1,960 sqft
2024-04-01 33 days 1,925 sqft
2024-05-01 30 days 1,963 sqft
2024-06-01 45 days 1,999 sqft
2024-07-01 37 days 2,006 sqft
2024-08-01 31 days 1,994 sqft
2024-09-01 36 days 1,943 sqft
2024-10-01 41 days 1,955 sqft
La Crosse's median listing age (time on market) for 2024-10-01 was 41 days. This is -1% shorter than the same period one year ago.

La Crosse's median square footage for active listings during the 2024-10-01 period was 1,955 sqft. One year prior, the average listing was 1,914 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).