Stevens Point FHA Loan Rates, Closing Costs & Stats

Stevens Point, WI

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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.

    Stevens Point's 30 lenders originated 67 FHA loans during 2023. The total origination value was $13,135,000, with an average FHA loan value of $196,045.

    Stevens Point FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Stevens Point averaged -0.02% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Stevens Point's average FHA mortgage closing costs are $6,354.

    The average rate for the prior week (2024-11-08) was 6.29% and one month ago for the week of 2024-10-11, the average rate was 5.99%.

    The average rate one year ago was 7.44%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

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

    Stevens Point 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 Stevens Point level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    QUICKEN LOANS, LLC 14 6.36% $9,627
    V.I.P. MORTGAGE, INC. 8 7.00% $9,790
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 7.71% $7,344
    LOANDEPOT.COM, LLC 2 6.19% $10,728
    TOWNE MORTGAGE COMPANY 2 6.50% $9,972
    UNITED WHOLESALE MORTGAGE, LLC 2 6.56% $5,688
    ENDEAVOR CAPITAL, LLC. 2 6.50% $12,668
    Nations Lending Corporation 2 6.88% $8,073
    GUILD MORTGAGE COMPANY 2 7.38% $8,993
    Paramount Residential Mortgage Group, Inc. 2 6.50% $9,347
    First Federal Bank 2 6.75% $5,192
    Prosperity Home Mortgage, LLC 2 6.44% $7,751
    Plains Commerce Bank 1 7.75% $7,085
    T2 FINANCIAL LLC 1 5.25% $12,629
    U.S. Bank 1 6.75% $7,146
    Waterstone Mortgage Corporation 1 7.13% $7,888
    WISCONSIN MORTGAGE CORPORATION 1 6.75% $5,769
    AMERICAN FINANCING CORPORATION 1 5.88% $8,496
    ZILLOW HOME LOANS, LLC 1 7.75% $10,474
    Associated Bank 1 7.13% $7,773
    Barrington Bank & Trust Company, N.A. 1 6.13% $19,552
    BROKER SOLUTIONS, INC. 1 6.63% $5,002
    Carrington Mortgage Services, LLC 1 5.88% $4,548
    EVERETT FINANCIAL, INC. 1 7.63% $11,585
    FREEDOM MORTGAGE CORPORATION 1 7.25% $9,446
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.63% $5,776
    LEADERONE FINANCIAL CORPORATION 1 6.00% $8,395
    MOVEMENT MORTGAGE, LLC 1 8.25% $7,542
    OCMBC, INC. 1 7.25% $4,717
    PENNYMAC LOAN SERVICES, LLC 1 6.25% $8,669

    The top Stevens Point FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 14 FHA loans originated. Their average total fees are $9,627, which is $163 lower than the next largest lender, V.I.P. MORTGAGE, INC..

    The lowest fee Stevens Point FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($9,627), .

    The lowest rate Stevens Point FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.36%), .

    Stevens Point FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Stevens Point (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 $199,900 (17.7%) $246,971 (13.4%) 0.00 179
    2018-02-01 $208,675 (22.8%) $246,302 (13.1%) 0.00 171
    2018-03-01 $228,900 (20.5%) $249,616 (8.5%) 0.00 171
    2018-04-01 $234,900 (20.7%) $263,791 (13.8%) 0.00 181
    2018-05-01 $227,400 (11.0%) $253,782 (6.3%) 0.00 220
    2018-06-01 $218,900 (9.5%) $246,809 (2.5%) 0.00 273
    2018-07-01 $219,900 (4.8%) $247,527 (1.2%) 0.00 265
    2018-08-01 $219,900 (8.7%) $247,030 (2.2%) 0.00 248
    2018-09-01 $215,000 (8.0%) $249,223 (5.1%) 0.00 234
    2018-10-01 $203,700 (2.1%) $245,465 (2.7%) 0.00 232
    2018-11-01 $199,900 (0.2%) $249,000 (3.1%) 0.00 198
    2018-12-01 $191,250 (-4.3%) $238,719 (-3.1%) 0.00 169
    2019-01-01 $187,450 (-6.2%) $245,736 (-0.5%) 0.00 140
    2019-02-01 $199,900 (-4.2%) $253,495 (2.9%) 0.00 136
    2019-03-01 $210,614 (-8.0%) $258,264 (3.5%) 0.00 147
    2019-04-01 $228,650 (-2.7%) $264,258 (0.2%) 0.00 162
    2019-05-01 $239,900 (5.5%) $259,865 (2.4%) 0.00 202
    2019-06-01 $229,900 (5.0%) $246,278 (-0.2%) 0.00 262
    2019-07-01 $228,650 (4.0%) $245,252 (-0.9%) 0.00 263
    2019-08-01 $225,823 (2.7%) $247,553 (0.2%) 0.00 245
    2019-09-01 $219,707 (2.2%) $250,412 (0.5%) 0.00 245
    2019-10-01 $215,630 (5.9%) $252,335 (2.8%) 0.00 237
    2019-11-01 $212,450 (6.3%) $256,340 (3.0%) 0.00 211
    2019-12-01 $217,400 (13.7%) $257,691 (8.0%) 0.00 178
    2020-01-01 $223,700 (19.3%) $259,654 (5.7%) 0.00 156
    2020-02-01 $228,900 (14.5%) $261,193 (3.0%) 0.00 166
    2020-03-01 $237,675 (12.9%) $265,701 (2.9%) 0.00 172
    2020-04-01 $239,900 (4.9%) $264,258 (0.0%) 0.00 176
    2020-05-01 $279,900 (16.7%) $295,224 (13.6%) 0.00 91
    2020-06-01 $263,700 (14.7%) $297,346 (20.7%) 0.00 92
    2020-07-01 $273,400 (19.6%) $297,864 (21.5%) 0.00 84
    2020-08-01 $270,000 (19.6%) $307,770 (24.3%) 0.00 81
    2020-09-01 $270,735 (23.2%) $308,633 (23.3%) 0.00 83
    2020-10-01 $250,000 (15.9%) $280,461 (11.2%) 0.00 82
    2020-11-01 $238,925 (12.5%) $281,904 (10.0%) 0.00 78
    2020-12-01 $217,900 (0.2%) $290,222 (12.6%) 0.00 60
    2021-01-01 $250,000 (11.8%) $299,077 (15.2%) 0.00 45
    2021-02-01 $259,950 (13.6%) $306,702 (17.4%) 0.00 47
    2021-03-01 $259,175 (9.1%) $311,800 (17.4%) 0.00 41
    2021-04-01 $289,900 (20.8%) $325,507 (23.2%) 0.00 39
    2021-05-01 $299,900 (7.2%) $348,964 (18.2%) 0.00 39
    2021-06-01 $279,925 (6.2%) $323,535 (8.8%) 0.00 58
    2021-07-01 $277,400 (1.5%) $315,742 (6.0%) 0.00 70
    2021-08-01 $259,450 (-3.9%) $311,038 (1.1%) 0.00 80
    2021-09-01 $290,675 (7.4%) $318,390 (3.2%) 0.00 77
    2021-10-01 $289,900 (16.0%) $327,802 (16.9%) 0.00 75
    2021-11-01 $297,400 (24.5%) $318,111 (12.8%) 0.00 70
    2021-12-01 $297,400 (36.5%) $319,537 (10.1%) 0.00 61
    2022-01-01 $325,000 (30.0%) $417,675 (39.7%) 0.00 49
    2022-02-01 $338,258 (30.1%) $429,687 (40.1%) 0.00 38
    2022-03-01 $338,495 (30.6%) $424,224 (36.1%) 0.00 34
    2022-04-01 $322,780 (11.3%) $420,174 (29.1%) 0.00 30
    2022-05-01 $322,800 (7.6%) $337,410 (-3.3%) 0.00 43
    2022-06-01 $304,900 (8.9%) $328,960 (1.7%) 0.00 49
    2022-07-01 $369,900 (33.4%) $423,896 (34.3%) 0.00 48
    2022-08-01 $359,750 (38.7%) $433,156 (39.3%) 0.00 49
    2022-09-01 $374,014 (28.7%) $429,277 (34.8%) 0.00 55
    2022-10-01 $349,900 (20.7%) $431,916 (31.8%) 0.00 47
    2022-11-01 $390,585 (31.3%) $475,056 (49.3%) 0.00 48
    2022-12-01 $385,000 (29.5%) $399,152 (24.9%) 0.00 47
    2023-01-01 $372,114 (14.5%) $376,274 (-9.9%) 0.00 35
    2023-02-01 $364,685 (7.8%) $373,142 (-13.2%) 0.00 38
    2023-03-01 $372,360 (10.0%) $398,421 (-6.1%) 0.00 40
    2023-04-01 $353,685 (9.6%) $451,105 (7.4%) 0.00 37
    2023-05-01 $336,200 (4.2%) $432,723 (28.3%) 0.00 39
    2023-06-01 $300,800 (-1.3%) $387,987 (17.9%) 0.00 57
    2023-07-01 $329,900 (-10.8%) $396,061 (-6.6%) 0.00 61
    2023-08-01 $351,818 (-2.2%) $375,168 (-13.4%) 0.00 63
    2023-09-01 $350,000 (-6.4%) $389,742 (-9.2%) 0.00 74
    2023-10-01 $342,900 (-2.0%) $389,467 (-9.8%) 0.00 76
    2023-11-01 $329,925 (-15.5%) $374,391 (-21.2%) 0.00 80
    2023-12-01 $325,000 (-15.6%) $368,876 (-7.6%) 0.00 67
    2024-01-01 $338,675 (-9.0%) $389,513 (3.5%) 0.00 60
    2024-02-01 $363,843 (-0.2%) $384,245 (3.0%) 0.00 51
    2024-03-01 $368,685 (-1.0%) $393,426 (-1.3%) 0.00 52
    2024-04-01 $373,793 (5.7%) $421,722 (-6.5%) 0.00 52
    2024-05-01 $381,896 (13.6%) $402,749 (-6.9%) 0.00 54
    2024-06-01 $388,685 (29.2%) $416,877 (7.5%) 0.00 58
    2024-07-01 $381,055 (15.5%) $400,794 (1.2%) 0.00 69
    2024-08-01 $377,450 (7.3%) $442,598 (18.0%) 0.00 81
    2024-09-01 $380,382 (8.7%) $431,639 (10.8%) 0.00 86
    2024-10-01 $381,287 (11.2%) $431,605 (10.8%) 0.00 75
    Stevens Point's median listing price for 2024-10-01 was $381,287, a difference of $38,387 (11.2%) versus the prior year and $905 versus the prior month.

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

    Stevens Point's average listing price for 2024-10-01 was $431,605, a difference of $42,138 (10.8%) versus the prior year and $-34 versus the prior month.

    For the 2024-10-01 period, Stevens Point had 75 MLS listings, a difference of -11 listings (-13%) versus the prior month and -1 listings (-1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Stevens Point (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,005 sqft
    2018-02-01 0 days 2,034 sqft
    2018-03-01 0 days 2,135 sqft
    2018-04-01 0 days 2,165 sqft
    2018-05-01 0 days 2,128 sqft
    2018-06-01 0 days 2,038 sqft
    2018-07-01 0 days 2,047 sqft
    2018-08-01 0 days 2,050 sqft
    2018-09-01 0 days 2,064 sqft
    2018-10-01 0 days 2,060 sqft
    2018-11-01 0 days 2,094 sqft
    2018-12-01 0 days 1,983 sqft
    2019-01-01 0 days 1,971 sqft
    2019-02-01 0 days 1,979 sqft
    2019-03-01 0 days 2,010 sqft
    2019-04-01 0 days 2,069 sqft
    2019-05-01 0 days 2,082 sqft
    2019-06-01 0 days 2,026 sqft
    2019-07-01 0 days 2,060 sqft
    2019-08-01 0 days 2,081 sqft
    2019-09-01 0 days 2,112 sqft
    2019-10-01 0 days 2,137 sqft
    2019-11-01 0 days 2,172 sqft
    2019-12-01 0 days 2,174 sqft
    2020-01-01 0 days 2,160 sqft
    2020-02-01 0 days 2,177 sqft
    2020-03-01 0 days 2,223 sqft
    2020-04-01 0 days 2,105 sqft
    2020-05-01 0 days 2,400 sqft
    2020-06-01 0 days 2,269 sqft
    2020-07-01 0 days 2,333 sqft
    2020-08-01 0 days 2,252 sqft
    2020-09-01 0 days 2,227 sqft
    2020-10-01 0 days 2,020 sqft
    2020-11-01 0 days 1,971 sqft
    2020-12-01 0 days 1,934 sqft
    2021-01-01 0 days 1,853 sqft
    2021-02-01 0 days 1,964 sqft
    2021-03-01 0 days 1,983 sqft
    2021-04-01 0 days 2,035 sqft
    2021-05-01 0 days 2,005 sqft
    2021-06-01 0 days 1,959 sqft
    2021-07-01 0 days 2,018 sqft
    2021-08-01 0 days 2,035 sqft
    2021-09-01 0 days 2,090 sqft
    2021-10-01 0 days 2,038 sqft
    2021-11-01 0 days 2,021 sqft
    2021-12-01 0 days 2,011 sqft
    2022-01-01 0 days 2,090 sqft
    2022-02-01 0 days 2,062 sqft
    2022-03-01 0 days 1,995 sqft
    2022-04-01 0 days 1,942 sqft
    2022-05-01 0 days 1,941 sqft
    2022-06-01 0 days 1,956 sqft
    2022-07-01 0 days 2,110 sqft
    2022-08-01 0 days 2,161 sqft
    2022-09-01 0 days 2,193 sqft
    2022-10-01 0 days 2,096 sqft
    2022-11-01 0 days 2,416 sqft
    2022-12-01 0 days 2,352 sqft
    2023-01-01 0 days 1,995 sqft
    2023-02-01 0 days 1,926 sqft
    2023-03-01 0 days 1,915 sqft
    2023-04-01 0 days 1,840 sqft
    2023-05-01 0 days 1,731 sqft
    2023-06-01 0 days 1,778 sqft
    2023-07-01 0 days 1,850 sqft
    2023-08-01 0 days 2,061 sqft
    2023-09-01 0 days 2,154 sqft
    2023-10-01 0 days 2,094 sqft
    2023-11-01 0 days 2,090 sqft
    2023-12-01 0 days 2,014 sqft
    2024-01-01 0 days 2,111 sqft
    2024-02-01 0 days 1,958 sqft
    2024-03-01 0 days 1,890 sqft
    2024-04-01 0 days 2,006 sqft
    2024-05-01 0 days 1,887 sqft
    2024-06-01 0 days 1,988 sqft
    2024-07-01 0 days 1,919 sqft
    2024-08-01 0 days 2,016 sqft
    2024-09-01 0 days 2,015 sqft
    2024-10-01 0 days 1,931 sqft
    Stevens Point's median listing age (time on market) for 2024-10-01 was 0 days.

    Stevens Point's median square footage for active listings during the 2024-10-01 period was 1,931 sqft. One year prior, the average listing was 2,094 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).