Marinette FHA Loan Rates, Closing Costs & Stats

Marinette, WI-MI

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 31 lenders originated 111 FHA loans during 2022. The total origination value was $14,775,000, with an average FHA loan value of $133,108.

Marinette FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Marinette averaged 6.31% for the week of 2024-03-15, compared to the national average (all FHA variants) of 6.596% for the same period.

Marinette's average FHA mortgage closing costs are $4,911.

The average rate for the prior week (2024-03-08) was 6.41% and one month ago for the week of 2024-02-09, the average rate was 6.43%.

The average rate one year ago was 6.2%.

For refis of the same type during the week of 2024-03-15, the average rate was 5.15%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 19 4.31% $6,345
FINANCE OF AMERICA MORTGAGE LLC 16 5.19% $5,107
Flagstar Bank, FSB 13 5.26% $5,642
PENNYMAC LOAN SERVICES, LLC 5 4.20% $6,502
MICHIGAN MUTUAL, INC. 5 5.63% $6,516
UNITED WHOLESALE MORTGAGE, LLC 4 5.75% $8,214
Mr. Cooper ( Nationstar Mortgage ) 3 4.21% $7,888
BROKER SOLUTIONS, INC. 3 4.92% $7,177
Carrington Mortgage Services, LLC 3 4.92% $9,266
LAKEVIEW LOAN SERVICING, LLC 3 4.65% $6,343
CROSSCOUNTRY MORTGAGE, LLC 2 5.19% $8,703
MID AMERICA MORTGAGE, INC. 2 5.94% $3,146
CALIBER HOME LOANS, INC. 2 4.25% $3,901
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 2 6.44% $4,962
FREEDOM MORTGAGE CORPORATION 2 5.81% $8,541
INLANTA MORTGAGE, INC. 2 4.81% $9,830
LOANDEPOT.COM, LLC 2 5.31% $4,750
Waterstone Mortgage Corporation 1 5.13% $7,628
AMERISAVE MORTGAGE CORPORATION 1 3.25% $8,924
CARDINAL FINANCIAL 1 5.75% $6,880
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 4.38% $6,991
GUARANTEED RATE, INC. 1 5.75% $5,424
Ixonia Bank 1 4.00% $7,042
LAND HOME FINANCIAL SERVICES, INC. 1 5.50% $8,653
MOVEMENT MORTGAGE, LLC 1 6.25% $9,774
NBKC BANK 1 5.50% $7,318
NEW DAY FINANCIAL, LLC 1 5.49% $6,263
Paramount Residential Mortgage Group, Inc. 1 4.63% $9,145
Plains Commerce Bank 1 6.25% $4,300
Sierra Pacific Mortgage Company, Inc. 1 7.13% $6,282
ACADEMY MORTGAGE CORPORATION 1 6.63% $14,483

The top Marinette FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 19 FHA loans originated. Their average total fees are $6,345, which is $1,238 higher than the next largest lender, FINANCE OF AMERICA MORTGAGE LLC.

The lowest fee Marinette FHA lenders (with over 10 loans originated) are FINANCE OF AMERICA MORTGAGE LLC ($5,107), Flagstar Bank, FSB ($5,642), QUICKEN LOANS, LLC ($6,345), .

The lowest rate Marinette FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.31%), FINANCE OF AMERICA MORTGAGE LLC (5.19%), Flagstar Bank, FSB (5.26%), .

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
Marinette's median listing price for 2024-01-01 was $207,450, a difference of $7,550 (3.8%) versus the prior year and $7,550 versus the prior month.

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

Marinette's average listing price for 2024-01-01 was $274,630, a difference of $17,299 (6.7%) versus the prior year and $-5,826 versus the prior month.

For the 2024-01-01 period, Marinette had 112 MLS listings, a difference of -10 listings (-8%) versus the prior month and 2 listings (2%) 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
Marinette's median listing age (time on market) for 2024-01-01 was 0 days.

Marinette's median square footage for active listings during the 2024-01-01 period was 1,467 sqft. One year prior, the average listing was 1,627 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).