Wausau FHA Loan Rates, Closing Costs & Stats

WAUSAU-WESTON, 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.

Wausau's 48 lenders originated 224 FHA loans during 2022. The total origination value was $39,070,000, with an average FHA loan value of $174,420.

Wausau FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Wausau averaged 6.56% for the week of 2024-03-01, compared to the national average (all FHA variants) of 6.688% for the same period.

Wausau's average FHA mortgage closing costs are $6,027.

The average rate for the prior week (2024-02-23) was 6.35% and one month ago for the week of 2024-01-26, the average rate was 6.35%.

The average rate one year ago was 6.38%.

For refis of the same type during the week of 2024-03-01, the average rate was 5.3%.

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

Wausau 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 Wausau level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
QUICKEN LOANS, LLC 29 4.28% $6,422
INLANTA MORTGAGE, INC. 26 5.28% $6,843
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 5.37% $8,752
LOANDEPOT.COM, LLC 10 5.28% $8,136
Ixonia Bank 9 5.86% $8,236
Waterstone Mortgage Corporation 9 4.96% $9,772
FREEDOM MORTGAGE CORPORATION 8 5.55% $7,065
UNITED WHOLESALE MORTGAGE, LLC 8 5.45% $8,880
LAND HOME FINANCIAL SERVICES, INC. 6 4.98% $8,165
BROKER SOLUTIONS, INC. 6 5.21% $9,037
Bank Five Nine 6 5.42% $6,189
PENNYMAC LOAN SERVICES, LLC 5 4.92% $7,641
DAS Acquisition Company, LLC 5 5.15% $8,926
Prosperity Home Mortgage, LLC 5 5.52% $12,211
Nations Lending Corporation 4 6.06% $5,020
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 3 4.67% $6,994
LAKEVIEW LOAN SERVICING, LLC 3 4.08% $6,070
Carrington Mortgage Services, LLC 3 4.50% $8,465
FINANCE OF AMERICA MORTGAGE LLC 3 4.37% $5,936
ENVOY MORTGAGE, LTD 3 4.75% $7,085
CROSSCOUNTRY MORTGAGE, LLC 2 6.31% $6,799
GUARANTEED RATE, INC. 2 6.00% $9,181
AMERISAVE MORTGAGE CORPORATION 2 4.31% $6,100
Paramount Residential Mortgage Group, Inc. 2 5.13% $6,268
ENDEAVOR CAPITAL, LLC. 2 5.38% $10,391
HOME POINT FINANCIAL CORPORATION 2 4.56% $6,500
CARDINAL FINANCIAL 2 4.75% $13,125
North American Savings Bank, F.S.B. 1 6.13% $6,613
CALIBER HOME LOANS, INC. 1 4.75% $6,532
Plains Commerce Bank 1 6.25% $8,507
PLANET HOME LENDING, LLC 1 5.88% $5,346
PLAZA HOME MORTGAGE, INC. 1 4.25% $4,145
Associated Bank 1 5.50% $5,099
T2 FINANCIAL LLC 1 5.63% $13,571
AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.75% $4,687
U.S. Bank 1 4.50% $9,215
American Mortgage & Equity Consultants, Inc. 1 5.63% $11,948
First Federal Bank 1 5.13% $5,002
First Guaranty Mortgage Corporation 1 4.88% $6,614
Flagstar Bank, FSB 1 4.75% $8,195
GUARANTEED RATE AFFINITY, LLC 1 6.25% $7,023
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 2.50% $4,055
CMG MORTGAGE, INC. 1 3.63% $9,841
MEMBER FIRST MORTGAGE, LLC 1 3.63% $6,745
Mortgage Research Center, LLC 1 3.50% $2,676
Mr. Cooper ( Nationstar Mortgage ) 1 4.63% $10,606
M&T Bank 1 4.13% $9,650
AMERICAN FINANCING CORPORATION 1 4.75% $7,365

The top Wausau FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 29 FHA loans originated. Their average total fees are $6,422, which is $421 lower than the next largest lender, INLANTA MORTGAGE, INC..

The lowest fee Wausau FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($6,422), INLANTA MORTGAGE, INC. ($6,843), LOANDEPOT.COM, LLC ($8,136), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,752) and .

The lowest rate Wausau FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (4.28%), INLANTA MORTGAGE, INC. (5.28%), LOANDEPOT.COM, LLC (5.28%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (5.37%) and .

Wausau FHA Loan Limits

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

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Wausau (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 $172,450 (16.2%) $218,784 (15.1%) 0.64 659
2018-02-01 $182,400 (21.6%) $225,330 (17.7%) 0.66 645
2018-03-01 $188,138 (18.4%) $228,794 (18.2%) 0.66 686
2018-04-01 $189,900 (18.7%) $235,014 (18.4%) 0.64 719
2018-05-01 $189,900 (13.4%) $232,336 (14.3%) 0.63 784
2018-06-01 $189,900 (12.5%) $231,021 (10.5%) 0.63 873
2018-07-01 $189,900 (12.9%) $229,649 (8.6%) 0.63 877
2018-08-01 $179,950 (7.0%) $223,594 (5.3%) 0.60 906
2018-09-01 $179,900 (5.9%) $218,647 (4.6%) 0.60 877
2018-10-01 $179,900 (3.5%) $223,520 (5.5%) 0.61 818
2018-11-01 $184,925 (8.8%) $226,308 (6.8%) 0.63 766
2018-12-01 $189,900 (15.2%) $229,683 (8.9%) 0.66 656
2019-01-01 $189,900 (10.1%) $233,275 (6.6%) 0.66 583
2019-02-01 $189,900 (4.1%) $229,658 (1.9%) 0.64 584
2019-03-01 $194,043 (3.1%) $231,297 (1.1%) 0.63 614
2019-04-01 $192,175 (1.2%) $231,981 (-1.3%) 0.61 644
2019-05-01 $190,000 (0.1%) $234,941 (1.1%) 0.59 671
2019-06-01 $196,900 (3.7%) $239,493 (3.7%) 0.62 717
2019-07-01 $198,250 (4.4%) $238,352 (3.8%) 0.62 777
2019-08-01 $195,082 (8.4%) $239,009 (6.9%) 0.62 777
2019-09-01 $195,880 (8.9%) $241,139 (10.3%) 0.63 776
2019-10-01 $197,750 (9.9%) $242,559 (8.5%) 0.64 768
2019-11-01 $199,000 (7.6%) $238,871 (5.6%) 0.65 688
2019-12-01 $192,450 (1.3%) $235,500 (2.5%) 0.64 589
2020-01-01 $184,900 (-2.6%) $229,842 (-1.5%) 0.62 512
2020-02-01 $185,000 (-2.6%) $228,378 (-0.6%) 0.61 532
2020-03-01 $195,350 (0.7%) $233,520 (1.0%) 0.61 597
2020-04-01 $199,900 (4.0%) $241,099 (3.9%) 0.63 602
2020-05-01 $239,900 (26.3%) $271,739 (15.7%) 0.73 369
2020-06-01 $239,900 (21.8%) $272,803 (13.9%) 0.71 335
2020-07-01 $235,750 (18.9%) $274,195 (15.0%) 0.68 307
2020-08-01 $228,900 (17.3%) $271,166 (13.5%) 0.66 286
2020-09-01 $224,925 (14.8%) $265,988 (10.3%) 0.64 314
2020-10-01 $214,900 (8.7%) $256,694 (5.8%) 0.62 321
2020-11-01 $204,900 (3.0%) $247,084 (3.4%) 0.60 285
2020-12-01 $202,400 (5.2%) $246,005 (4.5%) 0.60 247
2021-01-01 $209,450 (13.3%) $246,429 (7.2%) 0.63 192
2021-02-01 $199,672 (7.9%) $248,405 (8.8%) 0.58 150
2021-03-01 $213,900 (9.5%) $252,280 (8.0%) 0.61 129
2021-04-01 $219,900 (10.0%) $267,862 (11.1%) 0.60 118
2021-05-01 $239,900 (0.0%) $293,904 (8.2%) 0.64 119
2021-06-01 $237,225 (-1.1%) $290,515 (6.5%) 0.62 167
2021-07-01 $229,900 (-2.5%) $285,002 (3.9%) 0.61 207
2021-08-01 $232,400 (1.5%) $280,422 (3.4%) 0.62 222
2021-09-01 $233,700 (3.9%) $283,053 (6.4%) 0.62 206
2021-10-01 $249,900 (16.3%) $283,066 (10.3%) 0.67 219
2021-11-01 $233,650 (14.0%) $293,527 (18.8%) 0.62 181
2021-12-01 $259,575 (28.3%) $306,754 (24.7%) 0.70 149
2022-01-01 $271,900 (29.8%) $318,832 (29.4%) 0.74 126
2022-02-01 $303,675 (52.1%) $345,274 (39.0%) 0.79 107
2022-03-01 $318,300 (48.8%) $359,642 (42.6%) 0.80 106
2022-04-01 $349,900 (59.1%) $385,893 (44.1%) 0.83 111
2022-05-01 $323,300 (34.8%) $366,421 (24.7%) 0.74 153
2022-06-01 $294,950 (24.3%) $335,877 (15.6%) 0.66 178
2022-07-01 $294,700 (28.2%) $343,560 (20.6%) 0.66 199
2022-08-01 $289,206 (24.4%) $337,477 (20.4%) 0.67 209
2022-09-01 $299,725 (28.3%) $341,557 (20.7%) 0.70 182
2022-10-01 $279,900 (12.0%) $322,921 (14.1%) 0.66 186
2022-11-01 $277,450 (18.8%) $328,307 (11.9%) 0.67 163
2022-12-01 $279,305 (7.6%) $329,502 (7.4%) 0.69 132
2023-01-01 $280,653 (3.2%) $332,452 (4.3%) 0.70 108
2023-02-01 $271,903 (-10.5%) $336,895 (-2.4%) 0.66 99
2023-03-01 $256,425 (-19.4%) $329,944 (-8.3%) 0.60 95
2023-04-01 $272,950 (-22.0%) $352,541 (-8.6%) 0.63 87
2023-05-01 $281,150 (-13.0%) $348,855 (-4.8%) 0.64 113
2023-06-01 $302,400 (2.5%) $352,905 (5.1%) 0.68 151
2023-07-01 $309,900 (5.2%) $361,568 (5.2%) 0.70 182
2023-08-01 $299,675 (3.6%) $378,722 (12.2%) 0.69 193
2023-09-01 $294,950 (-1.6%) $372,480 (9.1%) 0.69 205
2023-10-01 $294,925 (5.4%) $362,268 (12.2%) 0.69 208
2023-11-01 $301,950 (8.8%) $354,945 (8.1%) 0.72 209
2023-12-01 $312,400 (11.9%) $367,816 (11.6%) 0.76 174
2024-01-01 $342,380 (22.0%) $377,302 (13.5%) 0.84 140
Wausau's median listing price for 2024-01-01 was $342,380, a difference of $61,727 (22.0%) versus the prior year and $29,980 versus the prior month.

Wausau's median listing price comes in at 84% of the national average.

Wausau's average listing price for 2024-01-01 was $377,302, a difference of $44,850 (13.5%) versus the prior year and $9,486 versus the prior month.

For the 2024-01-01 period, Wausau had 140 MLS listings, a difference of -34 listings (-20%) versus the prior month and 32 listings (30%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Wausau (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 99 days 1,904 sqft
2018-02-01 97 days 1,883 sqft
2018-03-01 68 days 1,876 sqft
2018-04-01 60 days 1,913 sqft
2018-05-01 54 days 1,932 sqft
2018-06-01 47 days 1,961 sqft
2018-07-01 52 days 1,952 sqft
2018-08-01 60 days 1,930 sqft
2018-09-01 64 days 1,879 sqft
2018-10-01 72 days 1,858 sqft
2018-11-01 81 days 1,860 sqft
2018-12-01 99 days 1,884 sqft
2019-01-01 100 days 1,841 sqft
2019-02-01 96 days 1,811 sqft
2019-03-01 75 days 1,855 sqft
2019-04-01 59 days 1,900 sqft
2019-05-01 49 days 1,906 sqft
2019-06-01 45 days 1,906 sqft
2019-07-01 48 days 1,913 sqft
2019-08-01 54 days 1,911 sqft
2019-09-01 59 days 1,920 sqft
2019-10-01 61 days 1,920 sqft
2019-11-01 73 days 1,928 sqft
2019-12-01 87 days 1,883 sqft
2020-01-01 94 days 1,879 sqft
2020-02-01 95 days 1,894 sqft
2020-03-01 66 days 1,938 sqft
2020-04-01 66 days 1,950 sqft
2020-05-01 77 days 1,978 sqft
2020-06-01 76 days 2,000 sqft
2020-07-01 64 days 2,000 sqft
2020-08-01 65 days 1,974 sqft
2020-09-01 59 days 1,940 sqft
2020-10-01 52 days 1,806 sqft
2020-11-01 69 days 1,763 sqft
2020-12-01 81 days 1,749 sqft
2021-01-01 94 days 1,712 sqft
2021-02-01 91 days 1,734 sqft
2021-03-01 51 days 1,808 sqft
2021-04-01 49 days 1,835 sqft
2021-05-01 38 days 1,934 sqft
2021-06-01 31 days 1,954 sqft
2021-07-01 38 days 1,903 sqft
2021-08-01 42 days 1,918 sqft
2021-09-01 47 days 1,919 sqft
2021-10-01 49 days 1,906 sqft
2021-11-01 56 days 1,818 sqft
2021-12-01 68 days 1,917 sqft
2022-01-01 86 days 1,881 sqft
2022-02-01 64 days 1,987 sqft
2022-03-01 45 days 2,009 sqft
2022-04-01 35 days 2,100 sqft
2022-05-01 25 days 2,045 sqft
2022-06-01 34 days 1,972 sqft
2022-07-01 40 days 1,968 sqft
2022-08-01 39 days 1,974 sqft
2022-09-01 45 days 1,983 sqft
2022-10-01 46 days 1,864 sqft
2022-11-01 51 days 1,868 sqft
2022-12-01 73 days 1,877 sqft
2023-01-01 88 days 2,007 sqft
2023-02-01 88 days 1,868 sqft
2023-03-01 57 days 1,990 sqft
2023-04-01 47 days 2,030 sqft
2023-05-01 33 days 1,835 sqft
2023-06-01 29 days 1,870 sqft
2023-07-01 35 days 1,850 sqft
2023-08-01 38 days 1,899 sqft
2023-09-01 38 days 1,864 sqft
2023-10-01 50 days 1,820 sqft
2023-11-01 51 days 1,794 sqft
2023-12-01 56 days 1,800 sqft
2024-01-01 73 days 1,871 sqft
Wausau's median listing age (time on market) for 2024-01-01 was 73 days. This is -17% shorter than the same period one year ago.

Wausau's median square footage for active listings during the 2024-01-01 period was 1,871 sqft. One year prior, the average listing was 2,007 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).