Wausau FHA Loan Rates, Closing Costs & Stats

WAUSAU-WESTON, 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.

    Wausau's 34 lenders originated 195 FHA loans during 2023. The total origination value was $35,335,000, with an average FHA loan value of $181,205.

    Wausau FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Wausau averaged 6.11% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Wausau's average FHA mortgage closing costs are $6,338.

    The average rate for the prior week (2024-12-06) was 6.48% and one month ago for the week of 2024-11-08, the average rate was 6.35%.

    The average rate one year ago was 7.06%.

    For refis of the same type during the week of 2024-12-13, the average rate was 5.83%.

    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    GUILD MORTGAGE COMPANY 28 6.63% $7,627
    QUICKEN LOANS, LLC 25 6.36% $8,337
    Ixonia Bank 21 7.09% $9,797
    Paramount Residential Mortgage Group, Inc. 11 7.14% $8,577
    Nations Lending Corporation 10 7.10% $5,781
    U.S. Bank 6 6.75% $7,393
    Associated Bank 6 6.44% $5,481
    Waterstone Mortgage Corporation 5 6.13% $10,191
    CROSSCOUNTRY MORTGAGE, LLC 5 6.84% $12,340
    Carrington Mortgage Services, LLC 5 6.55% $9,033
    UNITED WHOLESALE MORTGAGE, LLC 4 5.97% $11,066
    ENDEAVOR CAPITAL, LLC. 4 6.56% $8,766
    Mr. Cooper ( Nationstar Mortgage ) 4 6.19% $11,220
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 7.53% $9,587
    Mortgage Research Center, LLC 3 7.33% $7,574
    AMERISAVE MORTGAGE CORPORATION 3 6.13% $8,894
    Bank Five Nine 3 6.25% $6,987
    FREEDOM MORTGAGE CORPORATION 3 7.25% $10,419
    LAND HOME FINANCIAL SERVICES, INC. 3 7.33% $6,457
    LOANDEPOT.COM, LLC 3 6.25% $10,141
    Prosperity Home Mortgage, LLC 3 5.96% $13,010
    BROKER SOLUTIONS, INC. 2 7.38% $11,074
    V.I.P. MORTGAGE, INC. 2 6.25% $8,852
    NEWREZ LLC 2 6.00% $10,497
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $7,742
    TOWNE MORTGAGE COMPANY 1 6.99% $6,905
    First Federal Bank 1 7.13% $5,913
    University of Wisconsin Credit Union 1 6.88% $8,267
    EMBRACE HOME LOANS, INC. 1 6.75% $7,888
    VERITAS FUNDING, LLC 1 6.75% $10,358
    NETWORK CAPITAL FUNDING CORPORATION 1 5.50% $7,414
    MOVEMENT MORTGAGE, LLC 1 6.75% $10,320
    AMERICAN FINANCIAL NETWORK, INC. 1 6.13% $14,530
    Plains Commerce Bank 1 7.63% $13,302

    The top Wausau FHA lender as defined by loan originations is GUILD MORTGAGE COMPANY, with 28 FHA loans originated. Their average total fees are $7,627, which is $710 lower than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Wausau FHA lenders (with over 10 loans originated) are Nations Lending Corporation ($5,781), GUILD MORTGAGE COMPANY ($7,627), QUICKEN LOANS, LLC ($8,337), Paramount Residential Mortgage Group, Inc. ($8,577) and Ixonia Bank ($9,797).

    The lowest rate Wausau FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (6.36%), GUILD MORTGAGE COMPANY (6.63%), Ixonia Bank (7.09%), Nations Lending Corporation (7.10%) and Paramount Residential Mortgage Group, Inc. (7.14%).

    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
    2024-02-01 $348,645 (28.2%) $398,690 (18.3%) 0.84 123
    2024-03-01 $349,860 (36.4%) $384,191 (16.4%) 0.82 127
    2024-04-01 $358,725 (31.4%) $420,821 (19.4%) 0.83 118
    2024-05-01 $383,133 (36.3%) $440,201 (26.2%) 0.87 154
    2024-06-01 $368,685 (21.9%) $429,864 (21.8%) 0.83 197
    2024-07-01 $343,650 (10.9%) $391,378 (8.2%) 0.79 214
    2024-08-01 $344,900 (15.1%) $387,430 (2.3%) 0.80 229
    2024-09-01 $329,900 (11.9%) $369,656 (-0.8%) 0.78 252
    2024-10-01 $314,500 (6.6%) $371,777 (2.6%) 0.74 256
    2024-11-01 $299,900 (-0.7%) $368,028 (3.7%) 0.72 240
    Wausau's median listing price for 2024-11-01 was $299,900, a difference of $-2,050 (-0.7%) versus the prior year and $-14,600 versus the prior month.

    Wausau's median listing price comes in at 72% of the national average.

    Wausau's average listing price for 2024-11-01 was $368,028, a difference of $13,083 (3.7%) versus the prior year and $-3,749 versus the prior month.

    For the 2024-11-01 period, Wausau had 240 MLS listings, a difference of -16 listings (-6%) versus the prior month and 31 listings (15%) 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
    2024-02-01 62 days 1,849 sqft
    2024-03-01 49 days 1,846 sqft
    2024-04-01 46 days 2,016 sqft
    2024-05-01 23 days 2,051 sqft
    2024-06-01 36 days 2,105 sqft
    2024-07-01 42 days 2,027 sqft
    2024-08-01 43 days 2,012 sqft
    2024-09-01 43 days 1,934 sqft
    2024-10-01 44 days 1,869 sqft
    2024-11-01 54 days 1,833 sqft
    Wausau's median listing age (time on market) for 2024-11-01 was 54 days. This is 5% longer than the same period one year ago.

    Wausau's median square footage for active listings during the 2024-11-01 period was 1,833 sqft. One year prior, the average listing was 1,794 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).