Williston FHA Loan Rates, Closing Costs & Stats

Williston, ND

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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.

    Williston's 35 lenders originated 163 FHA loans during 2023. The total origination value was $49,395,000, with an average FHA loan value of $303,037.

    Williston FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Williston averaged 6.73% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

    Williston's average FHA mortgage closing costs are $8,596.

    The average rate for the prior week (2024-04-05) was 6.76% and one month ago for the week of 2024-03-08, the average rate was 6.69%.

    The average rate one year ago was 6.03%.

    For refis of the same type during the week of 2024-04-12, the average rate was 6.94%.

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

    Williston 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 Williston level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 45 6.60% $11,324
    U.S. Bank 18 6.94% $8,798
    Unify Home Lending Inc. 13 6.71% $6,469
    Gate City Bank 10 6.19% $12,055
    QUICKEN LOANS, LLC 7 6.27% $13,269
    WESTERN COOPERATIVE CREDIT UNION 6 6.68% $10,717
    LOANDEPOT.COM, LLC 6 7.58% $13,885
    AMCAP MORTGAGE, LTD. 4 7.06% $12,441
    First International Bank & Trust 4 6.28% $8,138
    CARDINAL FINANCIAL 4 6.63% $14,227
    Bank of England 3 6.75% $10,330
    BAY EQUITY LLC 2 6.31% $15,693
    SUN WEST MORTGAGE COMPANY, INC. 2 6.19% $12,921
    HOMESTAR FINANCIAL CORPORATION 1 7.25% $7,440
    Mortgage Research Center, LLC 1 6.25% $8,823
    Mr. Cooper ( Nationstar Mortgage ) 1 6.25% $23,599
    Nations Lending Corporation 1 6.25% $16,039
    NEWREZ LLC 1 6.25% $9,396
    Paramount Residential Mortgage Group, Inc. 1 7.25% $7,110
    Plains Commerce Bank 1 5.63% $11,722
    PLAZA HOME MORTGAGE, INC. 1 5.75% $14,764
    UNITED WHOLESALE MORTGAGE, LLC 1 7.63% $12,993
    ZILLOW HOME LOANS, LLC 1 6.13% $11,315
    AMERISAVE MORTGAGE CORPORATION 1 6.13% $8,778
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 7.13% $8,722
    Barrington Bank & Trust Company, N.A. 1 7.75% $9,313
    BROKER SOLUTIONS, INC. 1 6.13% $8,002
    Carrington Mortgage Services, LLC 1 6.63% $20,009
    CHURCHILL MORTGAGE CORPORATION 1 6.25% $12,635
    CRESCENT MORTGAGE COMPANY 1 6.00% $6,816
    First Western Bank & Trust 1 6.25% $14,644
    Flagstar Bank, FSB 1 7.00% $8,737
    GUARANTEED RATE, INC. 1 6.75% $11,264
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.00% $6,163
    HOMESIDE FINANCIAL, LLC 1 7.25% $9,876

    The top Williston FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 45 FHA loans originated. Their average total fees are $11,324, which is $2,526 higher than the next largest lender, U.S. Bank.

    The lowest fee Williston FHA lenders (with over 10 loans originated) are Unify Home Lending Inc. ($6,469), U.S. Bank ($8,798), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($11,324), Gate City Bank ($12,055) and .

    The lowest rate Williston FHA lenders (with over 10 loans originated) are Gate City Bank (6.19%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.60%), Unify Home Lending Inc. (6.71%), U.S. Bank (6.94%) and .

    Williston FHA Loan Limits

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

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Williston (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 $234,500 (-3.1%) $261,852 (-1.9%) 0.00 171
    2018-02-01 $229,675 (-4.3%) $258,040 (-0.4%) 0.00 178
    2018-03-01 $229,900 (-6.8%) $259,740 (-1.6%) 0.00 185
    2018-04-01 $239,225 (-7.6%) $268,355 (-2.4%) 0.00 191
    2018-05-01 $250,000 (0.0%) $291,585 (9.6%) 0.00 201
    2018-06-01 $259,000 (6.2%) $296,289 (12.8%) 0.00 187
    2018-07-01 $257,225 (5.4%) $287,015 (-0.7%) 0.00 188
    2018-08-01 $260,000 (4.0%) $298,693 (1.4%) 0.00 195
    2018-09-01 $260,000 (4.0%) $294,428 (3.1%) 0.00 204
    2018-10-01 $247,450 (7.1%) $293,917 (8.3%) 0.00 192
    2018-11-01 $249,925 (9.5%) $300,911 (12.7%) 0.00 178
    2018-12-01 $239,900 (6.6%) $302,358 (11.3%) 0.00 158
    2019-01-01 $242,475 (3.4%) $323,069 (23.4%) 0.00 133
    2019-02-01 $239,900 (4.5%) $307,926 (19.3%) 0.00 119
    2019-03-01 $254,814 (10.8%) $319,863 (23.2%) 0.00 119
    2019-04-01 $266,089 (11.2%) $311,748 (16.2%) 0.00 124
    2019-05-01 $279,450 (11.8%) $300,216 (3.0%) 0.00 130
    2019-06-01 $299,950 (15.8%) $330,491 (11.5%) 0.00 161
    2019-07-01 $298,475 (16.0%) $333,532 (16.2%) 0.00 153
    2019-08-01 $300,418 (15.6%) $334,028 (11.8%) 0.00 155
    2019-09-01 $304,120 (17.0%) $331,227 (12.5%) 0.00 157
    2019-10-01 $302,589 (22.3%) $325,982 (10.9%) 0.00 162
    2019-11-01 $292,500 (17.0%) $322,336 (7.1%) 0.00 172
    2019-12-01 $300,000 (25.1%) $325,555 (7.7%) 0.00 165
    2020-01-01 $297,425 (22.7%) $320,172 (-0.9%) 0.00 135
    2020-02-01 $292,450 (21.9%) $325,187 (5.6%) 0.00 126
    2020-03-01 $304,825 (19.6%) $336,370 (5.2%) 0.00 133
    2020-04-01 $298,950 (12.4%) $330,959 (6.2%) 0.00 142
    2020-05-01 $292,900 (4.8%) $327,323 (9.0%) 0.00 155
    2020-06-01 $275,000 (-8.3%) $302,517 (-8.5%) 0.00 143
    2020-07-01 $275,000 (-7.9%) $303,277 (-9.1%) 0.00 146
    2020-08-01 $274,950 (-8.5%) $300,373 (-10.1%) 0.00 171
    2020-09-01 $289,500 (-4.8%) $297,724 (-10.1%) 0.00 182
    2020-10-01 $292,900 (-3.2%) $298,502 (-8.4%) 0.00 200
    2020-11-01 $279,975 (-4.3%) $305,533 (-5.2%) 0.00 212
    2020-12-01 $281,225 (-6.3%) $312,534 (-4.0%) 0.00 211
    2021-01-01 $289,000 (-2.8%) $318,611 (-0.5%) 0.00 202
    2021-02-01 $296,975 (1.6%) $326,215 (0.3%) 0.00 181
    2021-03-01 $299,000 (-1.9%) $327,156 (-2.7%) 0.00 176
    2021-04-01 $299,450 (0.2%) $330,487 (-0.1%) 0.00 177
    2021-05-01 $307,450 (5.0%) $331,269 (1.2%) 0.00 170
    2021-06-01 $321,500 (16.9%) $336,589 (11.3%) 0.00 167
    2021-07-01 $322,450 (17.3%) $335,036 (10.5%) 0.00 187
    2021-08-01 $294,450 (7.1%) $320,147 (6.6%) 0.00 201
    2021-09-01 $283,650 (-2.0%) $319,806 (7.4%) 0.00 190
    2021-10-01 $289,900 (-1.0%) $322,625 (8.1%) 0.00 185
    2021-11-01 $287,450 (2.7%) $323,426 (5.9%) 0.00 176
    2021-12-01 $271,250 (-3.6%) $318,384 (1.9%) 0.00 162
    2022-01-01 $297,500 (2.9%) $320,967 (0.7%) 0.00 130
    2022-02-01 $280,000 (-5.7%) $317,622 (-2.6%) 0.00 121
    2022-03-01 $354,975 (18.7%) $339,402 (3.7%) 0.00 93
    2022-04-01 $379,900 (26.9%) $354,371 (7.2%) 0.00 100
    2022-05-01 $377,450 (22.8%) $366,338 (10.6%) 0.00 99
    2022-06-01 $359,375 (11.8%) $364,040 (8.2%) 0.00 105
    2022-07-01 $375,000 (16.3%) $361,876 (8.0%) 0.00 128
    2022-08-01 $347,850 (18.1%) $349,436 (9.2%) 0.00 118
    2022-09-01 $357,450 (26.0%) $372,981 (16.6%) 0.00 119
    2022-10-01 $330,000 (13.8%) $383,425 (18.9%) 0.00 131
    2022-11-01 $359,900 (25.2%) $401,121 (24.0%) 0.00 128
    2022-12-01 $354,500 (30.7%) $405,862 (27.5%) 0.00 125
    2023-01-01 $381,175 (28.1%) $423,973 (32.1%) 0.00 123
    2023-02-01 $366,100 (30.8%) $421,709 (32.8%) 0.00 102
    2023-03-01 $379,950 (7.0%) $434,748 (28.1%) 0.00 88
    2023-04-01 $377,000 (-0.8%) $391,776 (10.6%) 0.00 70
    2023-05-01 $395,000 (4.7%) $398,439 (8.8%) 0.00 70
    2023-06-01 $437,250 (21.7%) $439,824 (20.8%) 0.00 76
    2023-07-01 $389,975 (4.0%) $453,276 (25.3%) 0.00 83
    2023-08-01 $397,500 (14.3%) $460,929 (31.9%) 0.00 85
    2023-09-01 $395,000 (10.5%) $445,112 (19.3%) 0.00 89
    2023-10-01 $359,750 (9.0%) $449,827 (17.3%) 0.00 96
    2023-11-01 $331,250 (-8.0%) $426,938 (6.4%) 0.00 92
    2023-12-01 $347,450 (-2.0%) $440,932 (8.6%) 0.00 92
    2024-01-01 $376,725 (-1.2%) $469,477 (10.7%) 0.00 83
    2024-02-01 $442,425 (20.9%) $486,210 (15.3%) 0.00 63
    2024-03-01 $510,000 (34.2%) $531,613 (22.3%) 0.00 55
    Williston's median listing price for 2024-03-01 was $510,000, a difference of $130,050 (34.2%) versus the prior year and $67,575 versus the prior month.

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

    Williston's average listing price for 2024-03-01 was $531,613, a difference of $96,865 (22.3%) versus the prior year and $45,403 versus the prior month.

    For the 2024-03-01 period, Williston had 55 MLS listings, a difference of -8 listings (-13%) versus the prior month and -33 listings (-38%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Williston (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,004 sqft
    2018-02-01 0 days 1,886 sqft
    2018-03-01 0 days 1,819 sqft
    2018-04-01 0 days 1,920 sqft
    2018-05-01 0 days 2,000 sqft
    2018-06-01 0 days 1,984 sqft
    2018-07-01 0 days 1,944 sqft
    2018-08-01 0 days 1,997 sqft
    2018-09-01 0 days 1,993 sqft
    2018-10-01 0 days 1,895 sqft
    2018-11-01 0 days 1,912 sqft
    2018-12-01 0 days 1,920 sqft
    2019-01-01 0 days 1,956 sqft
    2019-02-01 0 days 1,952 sqft
    2019-03-01 0 days 1,938 sqft
    2019-04-01 0 days 1,902 sqft
    2019-05-01 0 days 1,882 sqft
    2019-06-01 0 days 2,038 sqft
    2019-07-01 0 days 2,087 sqft
    2019-08-01 0 days 2,160 sqft
    2019-09-01 0 days 2,205 sqft
    2019-10-01 0 days 2,188 sqft
    2019-11-01 0 days 2,130 sqft
    2019-12-01 0 days 2,106 sqft
    2020-01-01 0 days 2,079 sqft
    2020-02-01 0 days 2,013 sqft
    2020-03-01 0 days 2,025 sqft
    2020-04-01 0 days 2,083 sqft
    2020-05-01 0 days 2,084 sqft
    2020-06-01 0 days 2,056 sqft
    2020-07-01 0 days 2,046 sqft
    2020-08-01 0 days 2,072 sqft
    2020-09-01 0 days 2,030 sqft
    2020-10-01 0 days 2,150 sqft
    2020-11-01 0 days 2,030 sqft
    2020-12-01 0 days 2,083 sqft
    2021-01-01 0 days 2,128 sqft
    2021-02-01 0 days 2,202 sqft
    2021-03-01 0 days 2,184 sqft
    2021-04-01 0 days 2,243 sqft
    2021-05-01 0 days 2,280 sqft
    2021-06-01 0 days 2,272 sqft
    2021-07-01 0 days 2,244 sqft
    2021-08-01 0 days 2,097 sqft
    2021-09-01 0 days 2,099 sqft
    2021-10-01 0 days 2,156 sqft
    2021-11-01 0 days 2,196 sqft
    2021-12-01 0 days 2,150 sqft
    2022-01-01 0 days 2,174 sqft
    2022-02-01 0 days 2,189 sqft
    2022-03-01 0 days 1,895 sqft
    2022-04-01 0 days 1,820 sqft
    2022-05-01 0 days 1,805 sqft
    2022-06-01 0 days 1,897 sqft
    2022-07-01 0 days 1,832 sqft
    2022-08-01 0 days 1,821 sqft
    2022-09-01 0 days 1,823 sqft
    2022-10-01 0 days 1,890 sqft
    2022-11-01 0 days 1,906 sqft
    2022-12-01 0 days 1,847 sqft
    2023-01-01 0 days 1,821 sqft
    2023-02-01 0 days 1,741 sqft
    2023-03-01 0 days 1,785 sqft
    2023-04-01 0 days 1,756 sqft
    2023-05-01 0 days 1,735 sqft
    2023-06-01 0 days 1,850 sqft
    2023-07-01 0 days 1,880 sqft
    2023-08-01 0 days 1,913 sqft
    2023-09-01 0 days 1,879 sqft
    2023-10-01 0 days 1,921 sqft
    2023-11-01 0 days 1,878 sqft
    2023-12-01 0 days 1,886 sqft
    2024-01-01 0 days 1,886 sqft
    2024-02-01 0 days 1,897 sqft
    2024-03-01 0 days 1,938 sqft
    Williston's median listing age (time on market) for 2024-03-01 was 0 days.

    Williston's median square footage for active listings during the 2024-03-01 period was 1,938 sqft. One year prior, the average listing was 1,785 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).