Watertown FHA Loan Rates, Closing Costs & Stats
Watertown-Fort Atkinson, WI
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.
Watertown's 36 lenders originated 106 FHA loans during 2023. The total origination value was $26,210,000, with an average FHA loan value of $247,264.
Watertown FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Watertown
averaged
6.43%
for the week of 2024-12-06, compared to the national average (all FHA variants) of
6.363% for the same period.
Watertown's average FHA mortgage closing costs are $6,992.
The average rate for the prior week (2024-11-29) was
6.27% and
one month ago for the week of 2024-11-01, the
average rate was 6.37%.
The average rate one year ago was 7.09%.
For refis of the same type during the week of 2024-12-06, the average rate
was 6.46%.
Watertown 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 Watertown level.
The top Watertown FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
16 FHA loans originated. Their average total fees are
$9,419, which is $1,582
lower than the next largest lender,
CARDINAL FINANCIAL.
The lowest fee Watertown FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC ($9,419), CARDINAL FINANCIAL ($11,001), .
The lowest rate Watertown FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (6.60%), CARDINAL FINANCIAL (6.91%), .
Watertown FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
WATERTOWN-FORT ATKINSON, WI | JEFFERSON | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
WATERTOWN-FORT ATKINSON, WI | JEFFERSON | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Watertown (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $249,900 (4.6%) | $294,932 (5.1%) | 0.00 | 267 |
2018-02-01 | $260,000 (8.4%) | $311,271 (13.8%) | 0.00 | 267 |
2018-03-01 | $264,950 (8.4%) | $322,410 (17.4%) | 0.00 | 296 |
2018-04-01 | $260,000 (6.2%) | $322,261 (16.4%) | 0.00 | 317 |
2018-05-01 | $272,300 (12.4%) | $338,488 (22.9%) | 0.00 | 320 |
2018-06-01 | $269,900 (10.2%) | $338,751 (20.1%) | 0.00 | 316 |
2018-07-01 | $265,000 (9.1%) | $322,941 (15.0%) | 0.00 | 337 |
2018-08-01 | $265,000 (8.2%) | $321,684 (12.0%) | 0.00 | 363 |
2018-09-01 | $264,950 (6.0%) | $314,887 (8.1%) | 0.00 | 363 |
2018-10-01 | $265,000 (6.0%) | $322,270 (7.6%) | 0.00 | 344 |
2018-11-01 | $265,000 (6.0%) | $316,604 (6.1%) | 0.00 | 316 |
2018-12-01 | $265,000 (6.0%) | $314,542 (6.1%) | 0.00 | 289 |
2019-01-01 | $265,000 (6.0%) | $313,385 (6.3%) | 0.00 | 259 |
2019-02-01 | $265,000 (1.9%) | $316,327 (1.6%) | 0.00 | 249 |
2019-03-01 | $270,336 (2.0%) | $325,084 (0.8%) | 0.00 | 261 |
2019-04-01 | $279,425 (7.5%) | $344,816 (7.0%) | 0.00 | 291 |
2019-05-01 | $280,000 (2.8%) | $344,990 (1.9%) | 0.00 | 303 |
2019-06-01 | $279,900 (3.7%) | $345,268 (1.9%) | 0.00 | 323 |
2019-07-01 | $269,900 (1.9%) | $329,229 (2.0%) | 0.00 | 354 |
2019-08-01 | $269,927 (1.9%) | $331,249 (3.0%) | 0.00 | 357 |
2019-09-01 | $269,968 (1.9%) | $330,617 (5.0%) | 0.00 | 356 |
2019-10-01 | $270,000 (1.9%) | $331,016 (2.7%) | 0.00 | 348 |
2019-11-01 | $259,900 (-1.9%) | $315,689 (-0.3%) | 0.00 | 314 |
2019-12-01 | $262,500 (-0.9%) | $310,831 (-1.2%) | 0.00 | 268 |
2020-01-01 | $265,000 (0.0%) | $317,417 (1.3%) | 0.00 | 231 |
2020-02-01 | $269,950 (1.9%) | $320,781 (1.4%) | 0.00 | 249 |
2020-03-01 | $279,675 (3.5%) | $319,828 (-1.6%) | 0.00 | 267 |
2020-04-01 | $280,000 (0.2%) | $316,304 (-8.3%) | 0.00 | 239 |
2020-05-01 | $280,000 (0.0%) | $313,973 (-9.0%) | 0.00 | 237 |
2020-06-01 | $280,000 (0.0%) | $306,961 (-11.1%) | 0.00 | 260 |
2020-07-01 | $280,000 (3.7%) | $327,187 (-0.6%) | 0.00 | 262 |
2020-08-01 | $279,000 (3.4%) | $331,048 (-0.1%) | 0.00 | 258 |
2020-09-01 | $270,000 (0.0%) | $337,667 (2.1%) | 0.00 | 240 |
2020-10-01 | $270,000 (0.0%) | $339,175 (2.5%) | 0.00 | 228 |
2020-11-01 | $269,975 (3.9%) | $336,388 (6.6%) | 0.00 | 209 |
2020-12-01 | $278,725 (6.2%) | $338,994 (9.1%) | 0.00 | 180 |
2021-01-01 | $289,900 (9.4%) | $350,807 (10.5%) | 0.00 | 127 |
2021-02-01 | $289,900 (7.4%) | $349,327 (8.9%) | 0.00 | 119 |
2021-03-01 | $298,850 (6.9%) | $348,832 (9.1%) | 0.00 | 131 |
2021-04-01 | $293,575 (4.9%) | $334,509 (5.8%) | 0.00 | 172 |
2021-05-01 | $325,000 (16.1%) | $349,587 (11.3%) | 0.00 | 167 |
2021-06-01 | $309,475 (10.5%) | $340,361 (10.9%) | 0.00 | 181 |
2021-07-01 | $299,900 (7.1%) | $337,149 (3.0%) | 0.00 | 201 |
2021-08-01 | $289,450 (3.8%) | $333,535 (0.8%) | 0.00 | 205 |
2021-09-01 | $295,800 (9.6%) | $338,682 (0.3%) | 0.00 | 215 |
2021-10-01 | $299,900 (11.1%) | $355,189 (4.7%) | 0.00 | 212 |
2021-11-01 | $281,950 (4.4%) | $334,277 (-0.6%) | 0.00 | 180 |
2021-12-01 | $278,725 (0.0%) | $339,312 (0.1%) | 0.00 | 148 |
2022-01-01 | $299,450 (3.3%) | $351,720 (0.3%) | 0.00 | 119 |
2022-02-01 | $335,000 (15.6%) | $369,940 (5.9%) | 0.00 | 115 |
2022-03-01 | $335,000 (12.1%) | $363,197 (4.1%) | 0.00 | 111 |
2022-04-01 | $332,450 (13.2%) | $352,429 (5.4%) | 0.00 | 132 |
2022-05-01 | $335,000 (3.1%) | $366,892 (5.0%) | 0.00 | 163 |
2022-06-01 | $339,900 (9.8%) | $406,755 (19.5%) | 0.00 | 184 |
2022-07-01 | $336,600 (12.2%) | $403,466 (19.7%) | 0.00 | 191 |
2022-08-01 | $339,300 (17.2%) | $399,150 (19.7%) | 0.00 | 205 |
2022-09-01 | $340,000 (14.9%) | $394,525 (16.5%) | 0.00 | 179 |
2022-10-01 | $345,950 (15.4%) | $401,323 (13.0%) | 0.00 | 160 |
2022-11-01 | $336,375 (19.3%) | $390,125 (16.7%) | 0.00 | 140 |
2022-12-01 | $335,000 (20.2%) | $387,391 (14.2%) | 0.00 | 105 |
2023-01-01 | $337,450 (12.7%) | $394,230 (12.1%) | 0.00 | 107 |
2023-02-01 | $342,100 (2.1%) | $407,518 (10.2%) | 0.00 | 92 |
2023-03-01 | $352,475 (5.2%) | $406,758 (12.0%) | 0.00 | 99 |
2023-04-01 | $367,000 (10.4%) | $418,904 (18.9%) | 0.00 | 102 |
2023-05-01 | $365,000 (9.0%) | $412,293 (12.4%) | 0.00 | 109 |
2023-06-01 | $362,450 (6.6%) | $410,752 (1.0%) | 0.00 | 128 |
2023-07-01 | $360,000 (7.0%) | $412,727 (2.3%) | 0.00 | 132 |
2023-08-01 | $354,950 (4.6%) | $414,694 (3.9%) | 0.00 | 140 |
2023-09-01 | $360,000 (5.9%) | $426,256 (8.0%) | 0.00 | 148 |
2023-10-01 | $349,900 (1.1%) | $416,697 (3.8%) | 0.00 | 148 |
2023-11-01 | $349,950 (4.0%) | $429,813 (10.2%) | 0.00 | 145 |
2023-12-01 | $357,450 (6.7%) | $432,950 (11.8%) | 0.00 | 122 |
2024-01-01 | $362,475 (7.4%) | $444,766 (12.8%) | 0.00 | 99 |
2024-02-01 | $352,450 (3.0%) | $424,122 (4.1%) | 0.00 | 94 |
2024-03-01 | $369,450 (4.8%) | $440,854 (8.4%) | 0.00 | 105 |
2024-04-01 | $373,450 (1.8%) | $446,602 (6.6%) | 0.00 | 111 |
2024-05-01 | $403,675 (10.6%) | $476,042 (15.5%) | 0.00 | 135 |
2024-06-01 | $412,499 (13.8%) | $466,728 (13.6%) | 0.00 | 144 |
2024-07-01 | $380,000 (5.6%) | $460,838 (11.7%) | 0.00 | 137 |
2024-08-01 | $389,450 (9.7%) | $462,686 (11.6%) | 0.00 | 132 |
2024-09-01 | $384,925 (6.9%) | $472,254 (10.8%) | 0.00 | 165 |
2024-10-01 | $379,900 (8.6%) | $481,599 (15.6%) | 0.00 | 177 |
2024-11-01 | $349,900 (0.0%) | $446,779 (4.0%) | 0.00 | 158 |
Watertown's median listing price comes in at 0% of the national average.
Watertown's average listing price for 2024-11-01 was $446,779, a difference of $16,966 (4.0%) versus the prior year and $-34,820 versus the prior month.
For the 2024-11-01 period, Watertown had 158 MLS listings, a difference of -19 listings (-11%) versus the prior month and 13 listings (9%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Watertown (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 1,720 sqft |
2018-02-01 | 0 days | 1,814 sqft |
2018-03-01 | 0 days | 1,849 sqft |
2018-04-01 | 0 days | 1,854 sqft |
2018-05-01 | 0 days | 1,940 sqft |
2018-06-01 | 0 days | 1,944 sqft |
2018-07-01 | 0 days | 1,875 sqft |
2018-08-01 | 0 days | 1,876 sqft |
2018-09-01 | 0 days | 1,832 sqft |
2018-10-01 | 0 days | 1,890 sqft |
2018-11-01 | 0 days | 1,882 sqft |
2018-12-01 | 0 days | 1,803 sqft |
2019-01-01 | 0 days | 1,802 sqft |
2019-02-01 | 0 days | 1,800 sqft |
2019-03-01 | 0 days | 1,874 sqft |
2019-04-01 | 0 days | 1,948 sqft |
2019-05-01 | 0 days | 1,909 sqft |
2019-06-01 | 0 days | 1,929 sqft |
2019-07-01 | 0 days | 1,905 sqft |
2019-08-01 | 0 days | 1,936 sqft |
2019-09-01 | 0 days | 1,961 sqft |
2019-10-01 | 0 days | 1,990 sqft |
2019-11-01 | 0 days | 1,824 sqft |
2019-12-01 | 0 days | 1,806 sqft |
2020-01-01 | 0 days | 1,837 sqft |
2020-02-01 | 0 days | 1,830 sqft |
2020-03-01 | 0 days | 1,807 sqft |
2020-04-01 | 0 days | 1,903 sqft |
2020-05-01 | 0 days | 1,861 sqft |
2020-06-01 | 0 days | 1,859 sqft |
2020-07-01 | 0 days | 1,856 sqft |
2020-08-01 | 0 days | 1,806 sqft |
2020-09-01 | 0 days | 1,893 sqft |
2020-10-01 | 0 days | 1,815 sqft |
2020-11-01 | 0 days | 1,791 sqft |
2020-12-01 | 0 days | 1,755 sqft |
2021-01-01 | 0 days | 1,792 sqft |
2021-02-01 | 0 days | 1,753 sqft |
2021-03-01 | 0 days | 1,800 sqft |
2021-04-01 | 0 days | 1,804 sqft |
2021-05-01 | 0 days | 1,878 sqft |
2021-06-01 | 0 days | 1,903 sqft |
2021-07-01 | 0 days | 1,885 sqft |
2021-08-01 | 0 days | 1,805 sqft |
2021-09-01 | 0 days | 1,864 sqft |
2021-10-01 | 0 days | 1,826 sqft |
2021-11-01 | 0 days | 1,742 sqft |
2021-12-01 | 0 days | 1,841 sqft |
2022-01-01 | 0 days | 1,897 sqft |
2022-02-01 | 0 days | 1,926 sqft |
2022-03-01 | 0 days | 1,785 sqft |
2022-04-01 | 0 days | 1,800 sqft |
2022-05-01 | 0 days | 1,930 sqft |
2022-06-01 | 0 days | 1,898 sqft |
2022-07-01 | 0 days | 1,900 sqft |
2022-08-01 | 0 days | 1,891 sqft |
2022-09-01 | 0 days | 1,896 sqft |
2022-10-01 | 0 days | 1,964 sqft |
2022-11-01 | 0 days | 1,918 sqft |
2022-12-01 | 0 days | 1,880 sqft |
2023-01-01 | 0 days | 1,835 sqft |
2023-02-01 | 0 days | 1,804 sqft |
2023-03-01 | 0 days | 1,795 sqft |
2023-04-01 | 0 days | 1,806 sqft |
2023-05-01 | 0 days | 1,852 sqft |
2023-06-01 | 0 days | 1,899 sqft |
2023-07-01 | 0 days | 1,900 sqft |
2023-08-01 | 0 days | 1,951 sqft |
2023-09-01 | 0 days | 1,926 sqft |
2023-10-01 | 0 days | 1,936 sqft |
2023-11-01 | 0 days | 1,930 sqft |
2023-12-01 | 0 days | 1,896 sqft |
2024-01-01 | 0 days | 1,850 sqft |
2024-02-01 | 0 days | 1,843 sqft |
2024-03-01 | 0 days | 1,874 sqft |
2024-04-01 | 0 days | 1,792 sqft |
2024-05-01 | 0 days | 1,896 sqft |
2024-06-01 | 0 days | 1,936 sqft |
2024-07-01 | 0 days | 1,922 sqft |
2024-08-01 | 0 days | 1,943 sqft |
2024-09-01 | 0 days | 1,946 sqft |
2024-10-01 | 0 days | 1,975 sqft |
2024-11-01 | 0 days | 1,902 sqft |
Watertown's median square footage for active listings during the 2024-11-01 period was 1,902 sqft. One year prior, the average listing was 1,930 sqft.