Marinette FHA Loan Rates, Closing Costs & Stats

Marinette, WI-MI

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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.

    Marinette's 25 lenders originated 89 FHA loans during 2023. The total origination value was $14,235,000, with an average FHA loan value of $159,944.

    Marinette FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Marinette averaged 6.29% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Marinette's average FHA mortgage closing costs are $5,329.

    The average rate for the prior week (2024-12-06) was 6.56% and one month ago for the week of 2024-11-08, the average rate was 6.52%.

    The average rate one year ago was 6.74%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.08%.

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

    Marinette 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 Marinette level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 17 6.63% $8,601
    V.I.P. MORTGAGE, INC. 17 6.87% $6,799
    GUARANTEED RATE, INC. 9 7.39% $8,925
    UNITED WHOLESALE MORTGAGE, LLC 8 6.48% $7,604
    PENNYMAC LOAN SERVICES, LLC 3 6.37% $9,487
    Flagstar Bank, FSB 3 6.49% $8,045
    CARDINAL FINANCIAL 3 6.42% $7,840
    BROKER SOLUTIONS, INC. 3 6.96% $8,459
    CROSSCOUNTRY MORTGAGE, LLC 2 7.44% $6,759
    Mortgage Research Center, LLC 2 7.13% $4,473
    Nations Lending Corporation 1 7.25% $4,797
    TOP FLITE FINANCIAL, INC. 1 6.63% $8,324
    UNION HOME MORTGAGE CORP. 1 6.25% $10,277
    U.S. Bank 1 6.75% $4,983
    AMERICAN FINANCIAL RESOURCES, INC. 1 7.25% $6,090
    ZILLOW HOME LOANS, LLC 1 6.63% $6,944
    CALCON MUTUAL MORTGAGE LLC 1 5.75% $14,317
    CALIBER HOME LOANS, INC. 1 6.75% $6,377
    Carrington Mortgage Services, LLC 1 7.50% $11,865
    Colonial Savings, F.A. 1 6.88% $12,320
    ENVOY MORTGAGE, LTD 1 7.25% $7,871
    FREEDOM MORTGAGE CORPORATION 1 7.25% $8,917
    LAKEVIEW LOAN SERVICING, LLC 1 7.25% $8,967
    LOANDEPOT.COM, LLC 1 5.38% $7,758
    MICHIGAN MUTUAL, INC. 1 7.63% $3,462

    The top Marinette FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 17 FHA loans originated. Their average total fees are $8,601, which is $1,802 higher than the next largest lender, V.I.P. MORTGAGE, INC..

    The lowest fee Marinette FHA lenders (with over 10 loans originated) are V.I.P. MORTGAGE, INC. ($6,799), QUICKEN LOANS, LLC ($8,601), .

    The lowest rate Marinette FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.63%), V.I.P. MORTGAGE, INC. (6.87%), .

    Marinette FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Marinette (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 $119,700 (8.9%) $173,839 (0.6%) 0.00 429
    2018-02-01 $124,950 (11.6%) $178,921 (1.0%) 0.00 433
    2018-03-01 $126,950 (6.7%) $178,971 (1.1%) 0.00 413
    2018-04-01 $130,900 (4.3%) $195,341 (6.3%) 0.00 417
    2018-05-01 $137,700 (8.4%) $202,088 (11.6%) 0.00 432
    2018-06-01 $134,900 (4.1%) $183,731 (0.9%) 0.00 493
    2018-07-01 $138,975 (11.9%) $181,650 (-2.8%) 0.00 613
    2018-08-01 $130,000 (4.1%) $175,436 (-7.6%) 0.00 668
    2018-09-01 $134,900 (8.8%) $181,557 (-0.7%) 0.00 568
    2018-10-01 $139,225 (10.1%) $186,995 (1.7%) 0.00 531
    2018-11-01 $139,450 (12.3%) $188,636 (3.4%) 0.00 518
    2018-12-01 $134,900 (12.5%) $188,608 (6.6%) 0.00 472
    2019-01-01 $131,950 (10.2%) $192,627 (10.8%) 0.00 417
    2019-02-01 $131,950 (5.6%) $193,527 (8.2%) 0.00 411
    2019-03-01 $130,471 (2.8%) $190,120 (6.2%) 0.00 416
    2019-04-01 $132,471 (1.2%) $187,444 (-4.0%) 0.00 439
    2019-05-01 $129,900 (-5.7%) $186,737 (-7.6%) 0.00 459
    2019-06-01 $129,900 (-3.7%) $180,616 (-1.7%) 0.00 513
    2019-07-01 $129,900 (-6.5%) $180,134 (-0.8%) 0.00 514
    2019-08-01 $130,200 (0.2%) $182,010 (3.8%) 0.00 511
    2019-09-01 $130,650 (-3.2%) $182,794 (0.7%) 0.00 495
    2019-10-01 $135,450 (-2.7%) $185,545 (-0.8%) 0.00 454
    2019-11-01 $139,000 (-0.3%) $185,779 (-1.5%) 0.00 389
    2019-12-01 $130,925 (-3.0%) $179,266 (-5.0%) 0.00 338
    2020-01-01 $129,900 (-1.6%) $180,154 (-6.5%) 0.00 303
    2020-02-01 $139,900 (6.0%) $181,684 (-6.1%) 0.00 308
    2020-03-01 $149,900 (14.9%) $194,548 (2.3%) 0.00 305
    2020-04-01 $149,900 (13.2%) $195,804 (4.5%) 0.00 272
    2020-05-01 $149,900 (15.4%) $200,102 (7.2%) 0.00 270
    2020-06-01 $146,900 (13.1%) $200,432 (11.0%) 0.00 301
    2020-07-01 $145,900 (12.3%) $202,025 (12.2%) 0.00 315
    2020-08-01 $149,900 (15.1%) $205,264 (12.8%) 0.00 280
    2020-09-01 $149,900 (14.7%) $212,926 (16.5%) 0.00 266
    2020-10-01 $142,450 (5.2%) $205,373 (10.7%) 0.00 237
    2020-11-01 $135,650 (-2.4%) $201,887 (8.7%) 0.00 197
    2020-12-01 $132,900 (1.5%) $211,890 (18.2%) 0.00 172
    2021-01-01 $139,900 (7.7%) $219,616 (21.9%) 0.00 146
    2021-02-01 $148,675 (6.3%) $238,175 (31.1%) 0.00 131
    2021-03-01 $162,650 (8.5%) $252,475 (29.8%) 0.00 115
    2021-04-01 $159,400 (6.3%) $243,010 (24.1%) 0.00 117
    2021-05-01 $157,400 (5.0%) $226,738 (13.3%) 0.00 136
    2021-06-01 $150,950 (2.8%) $223,221 (11.4%) 0.00 160
    2021-07-01 $159,900 (9.6%) $231,550 (14.6%) 0.00 181
    2021-08-01 $169,900 (13.3%) $242,140 (18.0%) 0.00 177
    2021-09-01 $167,450 (11.7%) $235,162 (10.4%) 0.00 180
    2021-10-01 $169,900 (19.3%) $251,115 (22.3%) 0.00 171
    2021-11-01 $156,725 (15.5%) $254,658 (26.1%) 0.00 139
    2021-12-01 $159,300 (19.9%) $270,046 (27.5%) 0.00 113
    2022-01-01 $159,900 (14.3%) $300,582 (36.9%) 0.00 90
    2022-02-01 $159,925 (7.6%) $325,430 (36.6%) 0.00 79
    2022-03-01 $179,900 (10.6%) $372,149 (47.4%) 0.00 78
    2022-04-01 $179,900 (12.9%) $279,851 (15.2%) 0.00 96
    2022-05-01 $204,950 (30.2%) $285,614 (26.0%) 0.00 97
    2022-06-01 $188,650 (25.0%) $271,143 (21.5%) 0.00 131
    2022-07-01 $182,450 (14.1%) $261,704 (13.0%) 0.00 136
    2022-08-01 $177,450 (4.4%) $251,407 (3.8%) 0.00 148
    2022-09-01 $174,900 (4.5%) $245,507 (4.4%) 0.00 159
    2022-10-01 $174,900 (2.9%) $248,861 (-0.9%) 0.00 150
    2022-11-01 $179,900 (14.8%) $242,182 (-4.9%) 0.00 153
    2022-12-01 $190,000 (19.3%) $239,899 (-11.2%) 0.00 144
    2023-01-01 $199,900 (25.0%) $257,331 (-14.4%) 0.00 110
    2023-02-01 $212,975 (33.2%) $273,221 (-16.0%) 0.00 96
    2023-03-01 $222,425 (23.6%) $278,836 (-25.1%) 0.00 84
    2023-04-01 $222,400 (23.6%) $291,148 (4.0%) 0.00 86
    2023-05-01 $219,175 (6.9%) $285,637 (0.0%) 0.00 100
    2023-06-01 $225,000 (19.3%) $293,867 (8.4%) 0.00 110
    2023-07-01 $249,900 (37.0%) $300,932 (15.0%) 0.00 112
    2023-08-01 $224,975 (26.8%) $294,043 (17.0%) 0.00 146
    2023-09-01 $225,000 (28.6%) $294,143 (19.8%) 0.00 153
    2023-10-01 $244,900 (40.0%) $291,723 (17.2%) 0.00 153
    2023-11-01 $227,450 (26.4%) $288,483 (19.1%) 0.00 142
    2023-12-01 $199,900 (5.2%) $280,456 (16.9%) 0.00 122
    2024-01-01 $207,450 (3.8%) $274,630 (6.7%) 0.00 112
    2024-02-01 $207,400 (-2.6%) $306,686 (12.3%) 0.00 101
    2024-03-01 $224,900 (1.1%) $323,241 (15.9%) 0.00 106
    2024-04-01 $239,900 (7.9%) $346,191 (18.9%) 0.00 120
    2024-05-01 $247,400 (12.9%) $345,306 (20.9%) 0.00 145
    2024-06-01 $249,900 (11.1%) $352,095 (19.8%) 0.00 149
    2024-07-01 $268,675 (7.5%) $348,869 (15.9%) 0.00 168
    2024-08-01 $259,900 (15.5%) $347,848 (18.3%) 0.00 187
    2024-09-01 $241,175 (7.2%) $329,027 (11.9%) 0.00 189
    2024-10-01 $234,900 (-4.1%) $327,436 (12.2%) 0.00 183
    2024-11-01 $229,900 (1.1%) $316,101 (9.6%) 0.00 187
    Marinette's median listing price for 2024-11-01 was $229,900, a difference of $2,450 (1.1%) versus the prior year and $-5,000 versus the prior month.

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

    Marinette's average listing price for 2024-11-01 was $316,101, a difference of $27,618 (9.6%) versus the prior year and $-11,335 versus the prior month.

    For the 2024-11-01 period, Marinette had 187 MLS listings, a difference of 4 listings (2%) versus the prior month and 45 listings (32%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Marinette (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,432 sqft
    2018-02-01 0 days 1,452 sqft
    2018-03-01 0 days 1,430 sqft
    2018-04-01 0 days 1,420 sqft
    2018-05-01 0 days 1,512 sqft
    2018-06-01 0 days 1,494 sqft
    2018-07-01 0 days 1,423 sqft
    2018-08-01 0 days 1,400 sqft
    2018-09-01 0 days 1,460 sqft
    2018-10-01 0 days 1,470 sqft
    2018-11-01 0 days 1,456 sqft
    2018-12-01 0 days 1,428 sqft
    2019-01-01 0 days 1,411 sqft
    2019-02-01 0 days 1,433 sqft
    2019-03-01 0 days 1,412 sqft
    2019-04-01 0 days 1,391 sqft
    2019-05-01 0 days 1,399 sqft
    2019-06-01 0 days 1,440 sqft
    2019-07-01 0 days 1,411 sqft
    2019-08-01 0 days 1,411 sqft
    2019-09-01 0 days 1,398 sqft
    2019-10-01 0 days 1,420 sqft
    2019-11-01 0 days 1,462 sqft
    2019-12-01 0 days 1,450 sqft
    2020-01-01 0 days 1,451 sqft
    2020-02-01 0 days 1,516 sqft
    2020-03-01 0 days 1,536 sqft
    2020-04-01 0 days 1,539 sqft
    2020-05-01 0 days 1,512 sqft
    2020-06-01 0 days 1,450 sqft
    2020-07-01 0 days 1,435 sqft
    2020-08-01 0 days 1,460 sqft
    2020-09-01 0 days 1,439 sqft
    2020-10-01 0 days 1,400 sqft
    2020-11-01 0 days 1,420 sqft
    2020-12-01 0 days 1,503 sqft
    2021-01-01 0 days 1,600 sqft
    2021-02-01 0 days 1,681 sqft
    2021-03-01 0 days 1,700 sqft
    2021-04-01 0 days 1,600 sqft
    2021-05-01 0 days 1,567 sqft
    2021-06-01 0 days 1,572 sqft
    2021-07-01 0 days 1,456 sqft
    2021-08-01 0 days 1,497 sqft
    2021-09-01 0 days 1,500 sqft
    2021-10-01 0 days 1,500 sqft
    2021-11-01 0 days 1,487 sqft
    2021-12-01 0 days 1,507 sqft
    2022-01-01 0 days 1,500 sqft
    2022-02-01 0 days 1,439 sqft
    2022-03-01 0 days 1,405 sqft
    2022-04-01 0 days 1,518 sqft
    2022-05-01 0 days 1,589 sqft
    2022-06-01 0 days 1,500 sqft
    2022-07-01 0 days 1,444 sqft
    2022-08-01 0 days 1,446 sqft
    2022-09-01 0 days 1,402 sqft
    2022-10-01 0 days 1,432 sqft
    2022-11-01 0 days 1,404 sqft
    2022-12-01 0 days 1,457 sqft
    2023-01-01 0 days 1,627 sqft
    2023-02-01 0 days 1,687 sqft
    2023-03-01 0 days 1,593 sqft
    2023-04-01 0 days 1,568 sqft
    2023-05-01 0 days 1,478 sqft
    2023-06-01 0 days 1,474 sqft
    2023-07-01 0 days 1,500 sqft
    2023-08-01 0 days 1,483 sqft
    2023-09-01 0 days 1,512 sqft
    2023-10-01 0 days 1,599 sqft
    2023-11-01 0 days 1,610 sqft
    2023-12-01 0 days 1,535 sqft
    2024-01-01 0 days 1,467 sqft
    2024-02-01 0 days 1,527 sqft
    2024-03-01 0 days 1,554 sqft
    2024-04-01 0 days 1,567 sqft
    2024-05-01 0 days 1,546 sqft
    2024-06-01 0 days 1,562 sqft
    2024-07-01 0 days 1,556 sqft
    2024-08-01 0 days 1,534 sqft
    2024-09-01 0 days 1,543 sqft
    2024-10-01 0 days 1,512 sqft
    2024-11-01 0 days 1,500 sqft
    Marinette's median listing age (time on market) for 2024-11-01 was 0 days.

    Marinette's median square footage for active listings during the 2024-11-01 period was 1,500 sqft. One year prior, the average listing was 1,610 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).