La Crosse FHA Loan Rates, Closing Costs & Stats

LA CROSSE-ONALASKA, WI-MN

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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.

    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 7.13% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.72% and one month ago for the week of 2024-03-15, the average rate was 6.49%.

    The average rate one year ago was 6.52%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.63%.

    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
    La Crosse's median listing price for 2024-03-01 was $377,450, a difference of $42,966 (12.9%) versus the prior year and $36,000 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 2024-03-01 was $399,663, a difference of $48,442 (13.8%) versus the prior year and $3,789 versus the prior month.

    For the 2024-03-01 period, La Crosse had 122 MLS listings, a difference of 10 listings (9%) versus the prior month and 10 listings (9%) 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
    La Crosse's median listing age (time on market) for 2024-03-01 was 38 days. This is 23% longer than the same period one year ago.

    La Crosse's median square footage for active listings during the 2024-03-01 period was 1,960 sqft. One year prior, the average listing was 1,865 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).