Wisconsin FHA Loan Rates, Closing Costs & Stats

Wisconsin

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.

Wisconsin FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Wisconsin averaged 6.76% for the week of 2024-05-17, compared to the national average (all FHA variants) of 6.744% for the same period.

Wisconsin's average FHA mortgage closing costs are $6,572.

The average rate for the prior week (2024-05-10) was 6.6% and one month ago for the week of 2024-04-12, the average rate was 6.76%.

The average rate one year ago was 6.21%.

For refis of the same type during the week of 2024-05-17, the average rate was 6.23%.

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

Wisconsin 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 Wisconsin level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 866 6.31% $9,661
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 361 7.02% $8,863
UNITED WHOLESALE MORTGAGE, LLC 298 6.49% $10,202
GUILD MORTGAGE COMPANY 254 6.85% $9,305
CROSSCOUNTRY MORTGAGE, LLC 246 6.93% $10,218
LOANDEPOT.COM, LLC 182 6.68% $10,626
V.I.P. MORTGAGE, INC. 143 6.74% $9,264
Paramount Residential Mortgage Group, Inc. 141 6.95% $8,565
CARDINAL FINANCIAL 134 6.85% $11,314
NEWREZ LLC 118 6.53% $9,647
Ixonia Bank 117 7.10% $9,663
BROKER SOLUTIONS, INC. 115 6.79% $10,800
Nations Lending Corporation 107 7.06% $8,392
FREEDOM MORTGAGE CORPORATION 105 6.96% $12,327
Barrington Bank & Trust Company, N.A. 102 6.73% $9,698
PENNYMAC LOAN SERVICES, LLC 102 6.29% $10,743
Associated Bank 101 6.32% $6,424
THOMPSON KANE & COMPANY, LLC 98 6.92% $10,026
AMERISAVE MORTGAGE CORPORATION 89 6.18% $12,779
Mr. Cooper ( Nationstar Mortgage ) 87 6.18% $13,514
Bank of England 86 6.97% $8,877
AMERICAN PACIFIC MORTGAGE CORPORATION 85 7.15% $11,149
Prosperity Home Mortgage, LLC 85 6.65% $8,598
U.S. Bank 79 6.84% $6,958
GUARANTEED RATE, INC. 79 6.92% $10,114
ENVOY MORTGAGE, LTD 77 6.80% $8,864
ENDEAVOR CAPITAL, LLC. 72 6.72% $10,385
Waterstone Mortgage Corporation 71 6.77% $8,905
GSF Mortgage Corporation 69 6.69% $9,029
Bank Five Nine 66 6.72% $7,070
Carrington Mortgage Services, LLC 65 6.50% $11,228
MUTUAL OF OMAHA MORTGAGE, INC. 62 6.77% $12,953
Bell Bank 58 6.62% $9,668
MOVEMENT MORTGAGE, LLC 58 7.05% $10,019
JPMorgan Chase Bank 55 6.75% $5,193
CMG MORTGAGE, INC. 54 7.27% $10,235
Flagstar Bank, FSB 54 6.86% $7,440
Mortgage Research Center, LLC 54 7.14% $5,785
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 50 7.19% $9,253
ARK-LA-TEX FINANCIAL SERVICES, LLC. 46 6.72% $7,542
UNION HOME MORTGAGE CORP. 45 7.09% $8,778
PRIMARY RESIDENTIAL MORTGAGE, INC. 42 6.93% $10,602
NATIONS RELIABLE LENDING, LLC 42 7.22% $9,194
LAKEVIEW LOAN SERVICING, LLC 41 6.27% $11,025
TOWNE MORTGAGE COMPANY 41 6.77% $8,925
PLANET HOME LENDING, LLC 38 6.10% $8,524
FIRST CENTENNIAL MORTGAGE CORPORATION 38 6.84% $7,869
American Mortgage & Equity Consultants, Inc. 35 6.98% $10,748
WISCONSIN MORTGAGE CORPORATION 35 6.72% $7,528
BAY EQUITY LLC 31 6.70% $10,840
LAND HOME FINANCIAL SERVICES, INC. 30 6.70% $9,073
SUN WEST MORTGAGE COMPANY, INC. 30 6.75% $8,847
CORNERSTONE HOME LENDING, INC. 29 6.53% $12,283
AMERICAN FINANCIAL NETWORK, INC. 28 6.92% $10,866
Royal Credit Union 27 6.70% $8,549
GATEWAY MORTGAGE CORPORATION 25 6.90% $7,120
Century Mortgage Company DBA Century Lending Company 24 6.86% $10,053
GUARANTEED RATE AFFINITY, LLC 24 6.70% $10,737
EVERETT FINANCIAL, INC. 23 6.85% $11,819
HOMEBRIDGE FINANCIAL SERVICES, INC. 23 6.67% $8,552
A + MORTGAGE SERVICES, INC. 22 6.40% $9,099
CIBM Bank 21 6.99% $7,181
CHERRY CREEK MORTGAGE, LLC 21 6.47% $4,526
Servion, Inc. 21 6.48% $6,964
MID AMERICA MORTGAGE, INC. 19 6.78% $6,926
SUCCESS MORTGAGE PARTNERS, INC. 19 6.75% $8,793
First Federal Bank 18 6.56% $7,906
BMO Harris Bank 18 6.97% $7,797
CHURCHILL MORTGAGE CORPORATION 18 7.11% $7,757
The Huntington National Bank 17 6.44% $8,609
CALIBER HOME LOANS, INC. 16 6.47% $7,276
The Equitable Bank, S.S.B. 15 6.03% $6,661
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 14 6.43% $7,482
AMERICAN FINANCING CORPORATION 14 6.00% $10,654
University of Wisconsin Credit Union 14 6.58% $9,528
FIRST COMMUNITY MORTGAGE, INC. 14 7.08% $8,956
AmeriHome Mortgage Company, LLC 14 6.47% $8,965
MICHIGAN MUTUAL, INC. 13 6.95% $9,593
Equity Prime Mortgage LLC 13 6.75% $10,427
SECURITYNATIONAL MORTGAGE COMPANY 13 7.37% $8,151
TOP FLITE FINANCIAL, INC. 13 6.88% $15,021
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 13 6.97% $8,989
HOMESIDE FINANCIAL, LLC 13 6.98% $8,448
ZILLOW HOME LOANS, LLC 12 6.58% $9,453
DAS Acquisition Company, LLC 12 7.27% $8,344
Plains Commerce Bank 12 6.96% $8,186
PRIMELENDING, A PLAINSCAPITAL COMPANY 12 6.94% $10,207
AXIA FINANCIAL, LLC 11 6.09% $10,290
Waukesha State Bank 10 6.81% $8,073
ROYAL UNITED MORTGAGE LLC 10 6.98% $11,837
Old National Bank 10 6.46% $6,872
T2 FINANCIAL LLC 9 6.83% $10,565
VILLAGE CAPITAL MORTGAGE 9 5.99% $7,986
PNC Bank 9 6.35% $6,136
Wells Fargo Bank 8 6.63% $6,576
Summit Mortgage Corporation 8 6.64% $8,557
GENEVA FINANCIAL, LLC 8 7.11% $14,122
North Shore Bank of Commerce 7 6.73% $10,124
DRAPER AND KRAMER MORTGAGE CORP. 7 6.77% $8,749
The Federal Savings Bank 7 6.29% $13,981
LEADERONE FINANCIAL CORPORATION 7 6.71% $8,412
Wolfe Financial, Inc 6 7.23% $11,665
PLAZA HOME MORTGAGE, INC. 6 6.75% $10,463
FIRST STATE MORTGAGE SERVICES, LLC 6 6.90% $7,700
EMBRACE HOME LOANS, INC. 6 6.69% $8,964
CITY FIRST MORTGAGE SERVICES, L.L.C. 6 7.10% $8,130
CIBC Bank USA 5 6.32% $6,384
OCMBC, INC. 5 7.38% $8,402
GREENSTATE CREDIT UNION 5 6.35% $8,509
Lakeview Community Capital, LLC 5 6.50% $11,673
AMERICAN FINANCIAL RESOURCES, INC. 5 7.03% $8,831
Tradition Mortgage, LLC 5 6.05% $10,432
BECKAM FUNDING CORP. 5 7.27% $11,062
Blackhawk Bank 5 7.58% $6,855
EMM LOANS LLC 5 6.55% $13,375
M&T Bank 5 6.55% $8,558
Coulee Bank 5 6.20% $7,552
Neighborhood Loans, Inc. 5 6.98% $12,275
ALTRA 4 6.15% $8,115
Bremer Bank 4 6.81% $6,761
LOANPAL, LLC 4 5.88% $11,319
LIBERTY HOME MORTGAGE CORPORATION 4 6.66% $22,554
Ameris Bank 4 7.22% $6,788
VERITAS FUNDING, LLC 4 6.72% $16,179
PENTAGON FEDERAL CREDIT UNION 4 6.19% $6,091
NATIONWIDE MORTGAGE BANKERS, INC. 4 7.34% $10,361
NBKC BANK 4 6.25% $7,984
Home Federal Savings Bank 4 6.84% $9,373
MORTGAGE SOLUTIONS OF COLORADO, LLC 4 6.72% $14,905
MORTGAGE CENTER L.C 4 6.97% $7,840
Regent Financial Group, Inc. 4 6.75% $8,934
AMERICAN PORTFOLIO MORTGAGE CORPORATION 3 7.29% $9,253
Home State Bank 3 7.08% $6,772
NATIONS DIRECT MORTGAGE, LLC 3 7.00% $12,627
PHH Mortgage Corporation 3 6.13% $9,730
Citizens Bank 3 6.04% $9,277
CALCON MUTUAL MORTGAGE LLC 3 6.54% $12,489
SUMMIT FUNDING, INC. 3 6.58% $17,957
BETTER MORTGAGE CORPORATION 3 6.25% $6,296
TJC Mortgage, Inc. 3 6.04% $15,296
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 3 6.50% $11,255
MLD MORTGAGE INC. 2 6.00% $7,735
Flanagan State Bank 2 6.38% $7,768
First Savings Bank 2 6.25% $11,467
AMCAP MORTGAGE, LTD. 2 6.87% $9,236
Sierra Pacific Mortgage Company, Inc. 2 5.88% $15,526
JLB CORPORATION 2 7.06% $9,779
Regions Bank 2 6.44% $7,982
RESIDENTIAL BANCORP 2 6.94% $12,637
The Central Trust Bank 2 6.69% $9,332
ALAMEDA MORTGAGE CORPORATION 2 6.25% $9,119
Starion Bank 2 6.50% $9,593
COMPASS MORTGAGE, INC. 2 5.50% $9,552
HOMESTEAD FUNDING CORP. 2 6.75% $6,448
EAGLE HOME MORTGAGE, LLC 1 4.99% $11,195
CANOPY MORTGAGE, LLC 1 6.63% $14,260
RUHL MORTGAGE, LLC 1 5.75% $5,139
RUOFF MORTGAGE COMPANY, INC. 1 6.25% $5,935
Cambria Financial Group, LLC 1 7.12% $12,709
IOWA BANKERS MORTGAGE CORPORATION 1 7.38% $4,622
SIRVA MORTGAGE, INC. 1 7.25% $7,538
SOVEREIGN LENDING GROUP INCORPORATED 1 5.25% $10,480
Fifth Third Bank 1 7.13% $5,767
FirstBank 1 7.13% $13,843
Merchants Bank 1 6.03% $9,471
SWBC MORTGAGE CORPORATION 1 6.75% $12,715
MEGASTAR FINANCIAL CORP. 1 6.63% $12,027
Magnolia Bank 1 6.00% $11,206
Loan Simple, Inc. 1 6.75% $5,640
First-Citizens Bank & Trust Company 1 6.13% $6,834
HOMESTAR FINANCIAL CORPORATION 1 7.25% $9,009
Arvest Bank 1 7.00% $7,055
TOTAL MORTGAGE SERVICES, LLC 1 6.75% $9,824
ARC HOME LLC 1 7.13% $6,960
LEGEND LENDING CORPORATION 1 6.13% $22,249
TruHome Solutions, LLC 1 5.88% $6,294
First Mid Bank & Trust 1 8.13% $6,949
Florida Capital Bank 1 7.13% $8,473
United Fidelity Funding Corp. 1 7.62% $11,908
UNITED HOME LOANS, INC. 1 6.63% $7,275
Key Mortgage Services, Inc. 1 7.25% $8,350
Northpointe Bank 1 6.50% $7,794
North American Savings Bank, F.S.B. 1 5.75% $7,202
NORTHWEST BANK OF ROCKFORD 1 6.38% $5,813
NFM, INC. 1 7.38% $7,859
NexBank 1 6.63% $6,526
PACIFIC RESIDENTIAL MORTGAGE, LLC 1 7.13% $7,756
Colonial Savings, F.A. 1 6.88% $12,320
Pacor Mortgage Corp 1 7.13% $15,747
Park State Bank 1 6.00% $10,705
NEW DAY FINANCIAL, LLC 1 7.50% $11,003
First United Bank 1 6.25% $8,272
NETWORK CAPITAL FUNDING CORPORATION 1 5.50% $7,414
Allied First Bank,sb 1 7.00% $7,589
CRESCENT MORTGAGE COMPANY 1 7.13% $7,103
NATION ONE MORTGAGE CORPORATION 1 6.38% $25,254
PREMIA MORTGAGE, LLC 1 5.75% $5,434
MYCUMORTGAGE, LLC 1 6.63% $3,894
ACADEMY MORTGAGE CORPORATION 1 6.25% $12,560
Chickasaw Community Bank 1 6.25% $15,275
Capital Bank 1 5.50% $6,502

The top Wisconsin FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 866 FHA loans originated. Their average total fees are $9,661, which is $798 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Wisconsin FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($4,526), JPMorgan Chase Bank ($5,193), Mortgage Research Center, LLC ($5,785), Associated Bank ($6,424) and The Equitable Bank, S.S.B. ($6,661).

The lowest rate Wisconsin FHA lenders (with over 10 loans originated) are AMERICAN FINANCING CORPORATION (6.00%), The Equitable Bank, S.S.B. (6.03%), AXIA FINANCIAL, LLC (6.09%), PLANET HOME LENDING, LLC (6.10%) and AMERISAVE MORTGAGE CORPORATION (6.18%).

Wisconsin FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
NON-METRO ADAMS 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO ASHLAND 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BARRON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BAYFIELD 2022 $420,680 $538,650 $651,050 $809,150
GREEN BAY, WI BROWN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BUFFALO 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO BURNETT 2022 $420,680 $538,650 $651,050 $809,150
APPLETON, WI CALUMET 2022 $420,680 $538,650 $651,050 $809,150
EAU CLAIRE, WI CHIPPEWA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CLARK 2022 $420,680 $538,650 $651,050 $809,150
MADISON, WI COLUMBIA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO CRAWFORD 2022 $420,680 $538,650 $651,050 $809,150
MADISON, WI DANE 2022 $420,680 $538,650 $651,050 $809,150
BEAVER DAM, WI DODGE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO DOOR 2022 $420,680 $538,650 $651,050 $809,150
DULUTH, MN-WI DOUGLAS 2022 $420,680 $538,650 $651,050 $809,150
MENOMONIE, WI DUNN 2022 $420,680 $538,650 $651,050 $809,150
EAU CLAIRE, WI EAU CLAIRE 2022 $420,680 $538,650 $651,050 $809,150
IRON MOUNTAIN, MI-WI FLORENCE 2022 $420,680 $538,650 $651,050 $809,150
FOND DU LAC, WI FOND DU LAC 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO FOREST 2022 $420,680 $538,650 $651,050 $809,150
PLATTEVILLE, WI GRANT 2022 $420,680 $538,650 $651,050 $809,150
MADISON, WI GREEN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO GREEN LAKE 2022 $420,680 $538,650 $651,050 $809,150
MADISON, WI IOWA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO IRON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JACKSON 2022 $420,680 $538,650 $651,050 $809,150
WATERTOWN-FORT ATKINSON, WI JEFFERSON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO JUNEAU 2022 $420,680 $538,650 $651,050 $809,150
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENOSHA 2022 $420,680 $538,650 $651,050 $809,150
GREEN BAY, WI KEWAUNEE 2022 $420,680 $538,650 $651,050 $809,150
LA CROSSE-ONALASKA, WI-MN LA CROSSE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LAFAYETTE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO LANGLADE 2022 $420,680 $538,650 $651,050 $809,150
WAUSAU-WESTON, WI LINCOLN 2022 $420,680 $538,650 $651,050 $809,150
MANITOWOC, WI MANITOWOC 2022 $420,680 $538,650 $651,050 $809,150
WAUSAU-WESTON, WI MARATHON 2022 $420,680 $538,650 $651,050 $809,150
MARINETTE, WI-MI MARINETTE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MARQUETTE 2022 $420,680 $538,650 $651,050 $809,150
SHAWANO, WI MENOMINEE 2022 $420,680 $538,650 $651,050 $809,150
MILWAUKEE-WAUKESHA, WI MILWAUKEE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO MONROE 2022 $420,680 $538,650 $651,050 $809,150
GREEN BAY, WI OCONTO 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO ONEIDA 2022 $420,680 $538,650 $651,050 $809,150
APPLETON, WI OUTAGAMIE 2022 $420,680 $538,650 $651,050 $809,150
MILWAUKEE-WAUKESHA, WI OZAUKEE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PEPIN 2022 $420,680 $538,650 $651,050 $809,150
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI PIERCE 2022 $448,500 $574,150 $694,000 $862,500
NON-METRO POLK 2022 $420,680 $538,650 $651,050 $809,150
STEVENS POINT, WI PORTAGE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO PRICE 2022 $420,680 $538,650 $651,050 $809,150
RACINE, WI RACINE 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RICHLAND 2022 $420,680 $538,650 $651,050 $809,150
JANESVILLE-BELOIT, WI ROCK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO RUSK 2022 $420,680 $538,650 $651,050 $809,150
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ST. CROIX 2022 $448,500 $574,150 $694,000 $862,500
BARABOO, WI SAUK 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO SAWYER 2022 $420,680 $538,650 $651,050 $809,150
SHAWANO, WI SHAWANO 2022 $420,680 $538,650 $651,050 $809,150
SHEBOYGAN, WI SHEBOYGAN 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO TAYLOR 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO TREMPEALEAU 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO VERNON 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO VILAS 2022 $420,680 $538,650 $651,050 $809,150
WHITEWATER, WI WALWORTH 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WASHBURN 2022 $420,680 $538,650 $651,050 $809,150
MILWAUKEE-WAUKESHA, WI WASHINGTON 2022 $420,680 $538,650 $651,050 $809,150
MILWAUKEE-WAUKESHA, WI WAUKESHA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WAUPACA 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO WAUSHARA 2022 $420,680 $538,650 $651,050 $809,150
OSHKOSH-NEENAH, WI WINNEBAGO 2022 $420,680 $538,650 $651,050 $809,150
WISCONSIN RAPIDS-MARSHFIELD, WI WOOD 2022 $420,680 $538,650 $651,050 $809,150
NON-METRO ADAMS 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO ASHLAND 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BARRON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BAYFIELD 2023 $472,030 $604,400 $730,525 $907,900
GREEN BAY, WI BROWN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BUFFALO 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO BURNETT 2023 $472,030 $604,400 $730,525 $907,900
APPLETON, WI CALUMET 2023 $472,030 $604,400 $730,525 $907,900
EAU CLAIRE, WI CHIPPEWA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CLARK 2023 $472,030 $604,400 $730,525 $907,900
MADISON, WI COLUMBIA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO CRAWFORD 2023 $472,030 $604,400 $730,525 $907,900
MADISON, WI DANE 2023 $472,030 $604,400 $730,525 $907,900
BEAVER DAM, WI DODGE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO DOOR 2023 $472,030 $604,400 $730,525 $907,900
DULUTH, MN-WI DOUGLAS 2023 $472,030 $604,400 $730,525 $907,900
MENOMONIE, WI DUNN 2023 $472,030 $604,400 $730,525 $907,900
EAU CLAIRE, WI EAU CLAIRE 2023 $472,030 $604,400 $730,525 $907,900
IRON MOUNTAIN, MI-WI FLORENCE 2023 $472,030 $604,400 $730,525 $907,900
FOND DU LAC, WI FOND DU LAC 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO FOREST 2023 $472,030 $604,400 $730,525 $907,900
PLATTEVILLE, WI GRANT 2023 $472,030 $604,400 $730,525 $907,900
MADISON, WI GREEN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO GREEN LAKE 2023 $472,030 $604,400 $730,525 $907,900
MADISON, WI IOWA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO IRON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JACKSON 2023 $472,030 $604,400 $730,525 $907,900
WATERTOWN-FORT ATKINSON, WI JEFFERSON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO JUNEAU 2023 $472,030 $604,400 $730,525 $907,900
CHICAGO-NAPERVILLE-ELGIN, IL-IN-WI KENOSHA 2023 $472,030 $604,400 $730,525 $907,900
GREEN BAY, WI KEWAUNEE 2023 $472,030 $604,400 $730,525 $907,900
LA CROSSE-ONALASKA, WI-MN LA CROSSE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LAFAYETTE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO LANGLADE 2023 $472,030 $604,400 $730,525 $907,900
WAUSAU-WESTON, WI LINCOLN 2023 $472,030 $604,400 $730,525 $907,900
MANITOWOC, WI MANITOWOC 2023 $472,030 $604,400 $730,525 $907,900
WAUSAU-WESTON, WI MARATHON 2023 $472,030 $604,400 $730,525 $907,900
MARINETTE, WI-MI MARINETTE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MARQUETTE 2023 $472,030 $604,400 $730,525 $907,900
SHAWANO, WI MENOMINEE 2023 $472,030 $604,400 $730,525 $907,900
MILWAUKEE-WAUKESHA, WI MILWAUKEE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO MONROE 2023 $472,030 $604,400 $730,525 $907,900
GREEN BAY, WI OCONTO 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO ONEIDA 2023 $472,030 $604,400 $730,525 $907,900
APPLETON, WI OUTAGAMIE 2023 $472,030 $604,400 $730,525 $907,900
MILWAUKEE-WAUKESHA, WI OZAUKEE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PEPIN 2023 $472,030 $604,400 $730,525 $907,900
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI PIERCE 2023 $515,200 $659,550 $797,250 $990,800
NON-METRO POLK 2023 $472,030 $604,400 $730,525 $907,900
STEVENS POINT, WI PORTAGE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO PRICE 2023 $472,030 $604,400 $730,525 $907,900
RACINE, WI RACINE 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RICHLAND 2023 $472,030 $604,400 $730,525 $907,900
JANESVILLE-BELOIT, WI ROCK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO RUSK 2023 $472,030 $604,400 $730,525 $907,900
MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI ST. CROIX 2023 $515,200 $659,550 $797,250 $990,800
BARABOO, WI SAUK 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO SAWYER 2023 $472,030 $604,400 $730,525 $907,900
SHAWANO, WI SHAWANO 2023 $472,030 $604,400 $730,525 $907,900
SHEBOYGAN, WI SHEBOYGAN 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO TAYLOR 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO TREMPEALEAU 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO VERNON 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO VILAS 2023 $472,030 $604,400 $730,525 $907,900
WHITEWATER, WI WALWORTH 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WASHBURN 2023 $472,030 $604,400 $730,525 $907,900
MILWAUKEE-WAUKESHA, WI WASHINGTON 2023 $472,030 $604,400 $730,525 $907,900
MILWAUKEE-WAUKESHA, WI WAUKESHA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WAUPACA 2023 $472,030 $604,400 $730,525 $907,900
NON-METRO WAUSHARA 2023 $472,030 $604,400 $730,525 $907,900
OSHKOSH-NEENAH, WI WINNEBAGO 2023 $472,030 $604,400 $730,525 $907,900
WISCONSIN RAPIDS-MARSHFIELD, WI WOOD 2023 $472,030 $604,400 $730,525 $907,900

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).