Boulder FHA Loan Rates, Closing Costs & Stats

BOULDER, CO

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.

Boulder's 51 lenders originated 230 FHA loans during 2023. The total origination value was $101,710,000, with an average FHA loan value of $442,217.

Boulder FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Boulder averaged 6.78% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Boulder's average FHA mortgage closing costs are $11,471.

The average rate for the prior week (2024-04-05) was 6.7% and one month ago for the week of 2024-03-08, the average rate was 6.64%.

The average rate one year ago was 6.27%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.86%.

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

Boulder 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 Boulder level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 24 5.95% $18,706
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 6.38% $17,827
QUICKEN LOANS, LLC 10 6.22% $19,721
CMG MORTGAGE, INC. 6 5.71% $22,448
EAGLE HOME MORTGAGE, LLC 6 5.02% $16,847
CROSSCOUNTRY MORTGAGE, LLC 6 6.47% $17,563
AMERICAN FINANCING CORPORATION 5 7.20% $17,166
JET HOMELOANS, LLC 5 6.05% $17,561
Mr. Cooper ( Nationstar Mortgage ) 5 5.90% $25,914
Elevations Credit Union 4 6.81% $13,546
Bank of England 4 6.75% $14,762
LOANDEPOT.COM, LLC 4 6.25% $17,517
CARDINAL FINANCIAL 3 6.13% $23,696
Ixonia Bank 3 6.88% $14,691
V.I.P. MORTGAGE, INC. 3 6.33% $18,182
INSPIRE HOME LOANS INC. 3 5.50% $16,045
NOVA FINANCIAL & INVESTMENT CORPORATION 2 7.00% $8,936
BAY EQUITY LLC 2 7.25% $16,915
BROKER SOLUTIONS, INC. 2 6.81% $16,320
EVERETT FINANCIAL, INC. 2 6.56% $15,504
FREEDOM MORTGAGE CORPORATION 2 6.75% $17,371
GUILD MORTGAGE COMPANY 2 6.88% $15,193
MOVEMENT MORTGAGE, LLC 2 6.75% $17,655
NEWREZ LLC 2 6.00% $14,132
Paramount Residential Mortgage Group, Inc. 2 7.25% $20,046
THE MORTGAGE COMPANY 2 6.13% $14,340
TOWNE MORTGAGE COMPANY 2 6.13% $14,378
Keystone Funding, Inc. 1 5.75% $15,643
LADERA LENDING, INC. 1 5.75% $15,617
CHURCHILL MORTGAGE CORPORATION 1 6.25% $14,789
LOANPAL, LLC 1 5.99% $16,024
MEGASTAR FINANCIAL CORP. 1 5.75% $12,013
MEMBER FIRST MORTGAGE, LLC 1 4.75% $17,877
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $36,201
AMERICAN FINANCIAL RESOURCES, INC. 1 7.75% $19,501
CASTLE & COOKE MORTGAGE, LLC 1 7.25% $30,083
AMERISAVE MORTGAGE CORPORATION 1 6.25% $16,240
NFM, INC. 1 6.50% $24,119
ALLIED MORTGAGE GROUP, INC. 1 7.13% $13,306
UNIVERSAL LENDING CORPORATION 1 6.75% $16,112
PENNYMAC LOAN SERVICES, LLC 1 6.00% $12,575
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 7.25% $19,039
CALIBER HOME LOANS, INC. 1 6.75% $15,983
Residential Mortgage Solutions, Inc. 1 6.99% $26,772
The Federal Savings Bank 1 6.75% $22,805
U.S. Bank 1 7.50% $13,147
Hometown Equity Mortgage, LLC 1 5.25% $19,621
EMM LOANS LLC 1 5.75% $19,882
CORNERSTONE HOME LENDING, INC. 1 7.50% $13,624
CITYWIDE HOME LOANS, LLC 1 7.25% $14,282
KBHS HOME LOANS, LLC 1 6.88% $18,896

The top Boulder FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 24 FHA loans originated. Their average total fees are $18,706, which is $879 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

The lowest fee Boulder FHA lenders (with over 10 loans originated) are FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($17,827), UNITED WHOLESALE MORTGAGE, LLC ($18,706), QUICKEN LOANS, LLC ($19,721), .

The lowest rate Boulder FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.95%), QUICKEN LOANS, LLC (6.22%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.38%), .

Boulder FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
BOULDER, CO BOULDER 2022 $747,500 $956,950 $1,156,700 $1,437,500
BOULDER, CO BOULDER 2023 $856,750 $1,096,800 $1,325,800 $1,647,650

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Boulder (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 $662,167 (-2.9%) $1,110,807 (-8.3%) 2.45 478
2018-02-01 $727,000 (4.8%) $1,213,461 (-2.6%) 2.64 479
2018-03-01 $749,945 (8.1%) $1,182,921 (-1.2%) 2.63 533
2018-04-01 $749,400 (7.8%) $1,185,909 (2.0%) 2.54 658
2018-05-01 $746,338 (7.1%) $1,163,743 (5.3%) 2.49 740
2018-06-01 $719,450 (5.2%) $1,082,882 (3.7%) 2.40 849
2018-07-01 $704,975 (6.8%) $1,060,146 (2.7%) 2.35 881
2018-08-01 $662,400 (3.1%) $1,006,390 (0.2%) 2.22 937
2018-09-01 $644,000 (1.5%) $985,298 (-0.9%) 2.16 946
2018-10-01 $643,500 (-1.0%) $1,001,372 (-3.1%) 2.18 922
2018-11-01 $644,350 (-0.9%) $1,030,284 (-3.8%) 2.18 810
2018-12-01 $660,000 (0.5%) $1,037,180 (-7.5%) 2.28 669
2019-01-01 $631,225 (-4.7%) $1,010,506 (-9.0%) 2.18 612
2019-02-01 $649,450 (-10.7%) $1,021,671 (-15.8%) 2.19 663
2019-03-01 $643,004 (-14.3%) $1,034,596 (-12.5%) 2.10 756
2019-04-01 $657,082 (-12.3%) $1,035,090 (-12.7%) 2.09 865
2019-05-01 $660,698 (-11.5%) $1,037,347 (-10.9%) 2.07 1,000
2019-06-01 $667,600 (-7.2%) $1,039,165 (-4.0%) 2.09 1,096
2019-07-01 $679,000 (-3.7%) $1,020,297 (-3.8%) 2.13 1,178
2019-08-01 $665,980 (0.5%) $1,004,911 (-0.2%) 2.11 1,178
2019-09-01 $668,199 (3.8%) $1,009,249 (2.4%) 2.14 1,165
2019-10-01 $667,666 (3.8%) $1,012,140 (1.1%) 2.15 1,143
2019-11-01 $664,900 (3.2%) $1,025,842 (-0.4%) 2.18 977
2019-12-01 $664,950 (0.8%) $1,065,166 (2.7%) 2.22 757
2020-01-01 $650,000 (3.0%) $1,057,952 (4.7%) 2.17 616
2020-02-01 $688,000 (5.9%) $1,105,181 (8.2%) 2.25 596
2020-03-01 $719,731 (11.9%) $1,106,809 (7.0%) 2.26 634
2020-04-01 $712,802 (8.5%) $1,059,426 (2.4%) 2.23 700
2020-05-01 $742,455 (12.4%) $1,063,371 (2.5%) 2.26 855
2020-06-01 $745,989 (11.7%) $1,077,526 (3.7%) 2.20 955
2020-07-01 $749,500 (10.4%) $1,089,300 (6.8%) 2.17 889
2020-08-01 $756,250 (13.6%) $1,122,208 (11.7%) 2.17 803
2020-09-01 $715,945 (7.2%) $1,113,430 (10.3%) 2.05 798
2020-10-01 $745,000 (11.6%) $1,175,023 (16.1%) 2.13 773
2020-11-01 $767,488 (15.4%) $1,223,779 (19.3%) 2.24 597
2020-12-01 $798,000 (20.0%) $1,302,359 (22.3%) 2.37 474
2021-01-01 $856,653 (31.8%) $1,356,233 (28.2%) 2.56 362
2021-02-01 $886,000 (28.8%) $1,346,694 (21.9%) 2.58 308
2021-03-01 $844,000 (17.3%) $1,362,872 (23.1%) 2.39 287
2021-04-01 $809,500 (13.6%) $1,368,154 (29.1%) 2.19 326
2021-05-01 $800,000 (7.8%) $1,347,354 (26.7%) 2.13 330
2021-06-01 $812,450 (8.9%) $1,294,942 (20.2%) 2.14 434
2021-07-01 $787,500 (5.1%) $1,258,888 (15.6%) 2.08 446
2021-08-01 $759,500 (0.4%) $1,198,662 (6.8%) 2.03 472
2021-09-01 $749,988 (4.8%) $1,154,947 (3.7%) 2.00 464
2021-10-01 $796,000 (6.9%) $1,214,778 (3.4%) 2.12 395
2021-11-01 $811,975 (5.8%) $1,333,273 (9.0%) 2.17 299
2021-12-01 $804,950 (0.9%) $1,344,914 (3.3%) 2.18 416
2022-01-01 $825,000 (-3.7%) $1,522,455 (12.3%) 2.23 151
2022-02-01 $877,183 (-1.0%) $1,628,962 (21.0%) 2.28 168
2022-03-01 $826,250 (-2.1%) $1,470,080 (7.9%) 2.07 210
2022-04-01 $874,900 (8.1%) $1,489,471 (8.9%) 2.09 255
2022-05-01 $870,000 (8.8%) $1,422,370 (5.6%) 1.99 472
2022-06-01 $887,500 (9.2%) $1,415,625 (9.3%) 1.98 635
2022-07-01 $864,000 (9.7%) $1,355,758 (7.7%) 1.95 761
2022-08-01 $829,000 (9.2%) $1,312,045 (9.5%) 1.92 811
2022-09-01 $835,000 (11.3%) $1,342,753 (16.3%) 1.95 793
2022-10-01 $825,000 (3.6%) $1,353,181 (11.4%) 1.94 800
2022-11-01 $835,000 (2.8%) $1,404,504 (5.3%) 2.01 693
2022-12-01 $843,450 (4.8%) $1,427,316 (6.1%) 2.08 503
2023-01-01 $846,000 (2.6%) $1,490,739 (-2.1%) 2.10 438
2023-02-01 $875,000 (-0.3%) $1,519,179 (-6.7%) 2.11 482
2023-03-01 $959,275 (16.1%) $1,587,138 (8.0%) 2.26 532
2023-04-01 $982,550 (12.3%) $1,605,475 (7.8%) 2.29 618
2023-05-01 $985,000 (13.2%) $1,564,648 (10.0%) 2.23 720
2023-06-01 $950,000 (7.0%) $1,521,583 (7.5%) 2.13 827
2023-07-01 $909,475 (5.3%) $1,493,150 (10.1%) 2.07 869
2023-08-01 $901,475 (8.7%) $1,520,394 (15.9%) 2.07 840
2023-09-01 $896,250 (7.3%) $1,491,076 (11.1%) 2.09 889
2023-10-01 $913,750 (10.8%) $1,501,237 (10.9%) 2.15 924
2023-11-01 $899,016 (7.7%) $1,488,340 (6.0%) 2.14 835
2023-12-01 $887,500 (5.2%) $1,499,844 (5.1%) 2.16 669
2024-01-01 $899,000 (6.3%) $1,569,593 (5.3%) 2.20 534
2024-02-01 $914,441 (4.5%) $1,532,453 (0.9%) 2.20 573
2024-03-01 $940,000 (-2.0%) $1,520,552 (-4.2%) 2.21 701
Boulder's median listing price for 2024-03-01 was $940,000, a difference of $-19,275 (-2.0%) versus the prior year and $25,559 versus the prior month.

Boulder's median listing price comes in at 221% of the national average.

Boulder's average listing price for 2024-03-01 was $1,520,552, a difference of $-66,586 (-4.2%) versus the prior year and $-11,901 versus the prior month.

For the 2024-03-01 period, Boulder had 701 MLS listings, a difference of 128 listings (22%) versus the prior month and 169 listings (32%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Boulder (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 59 days 2,993 sqft
2018-02-01 39 days 3,138 sqft
2018-03-01 35 days 3,074 sqft
2018-04-01 30 days 3,091 sqft
2018-05-01 31 days 3,009 sqft
2018-06-01 31 days 2,938 sqft
2018-07-01 37 days 2,758 sqft
2018-08-01 43 days 2,585 sqft
2018-09-01 47 days 2,589 sqft
2018-10-01 45 days 2,605 sqft
2018-11-01 53 days 2,596 sqft
2018-12-01 68 days 2,607 sqft
2019-01-01 70 days 2,455 sqft
2019-02-01 38 days 2,400 sqft
2019-03-01 37 days 2,570 sqft
2019-04-01 34 days 2,679 sqft
2019-05-01 32 days 2,677 sqft
2019-06-01 38 days 2,628 sqft
2019-07-01 39 days 2,599 sqft
2019-08-01 44 days 2,549 sqft
2019-09-01 49 days 2,542 sqft
2019-10-01 51 days 2,524 sqft
2019-11-01 58 days 2,523 sqft
2019-12-01 74 days 2,583 sqft
2020-01-01 74 days 2,542 sqft
2020-02-01 38 days 2,553 sqft
2020-03-01 37 days 2,570 sqft
2020-04-01 41 days 2,496 sqft
2020-05-01 40 days 2,517 sqft
2020-06-01 36 days 2,496 sqft
2020-07-01 42 days 2,449 sqft
2020-08-01 42 days 2,382 sqft
2020-09-01 38 days 2,304 sqft
2020-10-01 39 days 2,305 sqft
2020-11-01 51 days 2,320 sqft
2020-12-01 68 days 2,330 sqft
2021-01-01 79 days 2,192 sqft
2021-02-01 73 days 2,266 sqft
2021-03-01 39 days 2,257 sqft
2021-04-01 31 days 2,219 sqft
2021-05-01 30 days 2,305 sqft
2021-06-01 18 days 2,356 sqft
2021-07-01 31 days 2,356 sqft
2021-08-01 30 days 2,295 sqft
2021-09-01 30 days 2,276 sqft
2021-10-01 33 days 2,228 sqft
2021-11-01 37 days 2,355 sqft
2021-12-01 44 days 2,296 sqft
2022-01-01 33 days 2,476 sqft
2022-02-01 19 days 2,458 sqft
2022-03-01 16 days 2,366 sqft
2022-04-01 15 days 2,485 sqft
2022-05-01 16 days 2,520 sqft
2022-06-01 22 days 2,539 sqft
2022-07-01 30 days 2,496 sqft
2022-08-01 36 days 2,370 sqft
2022-09-01 40 days 2,398 sqft
2022-10-01 43 days 2,423 sqft
2022-11-01 51 days 2,480 sqft
2022-12-01 68 days 2,426 sqft
2023-01-01 79 days 2,487 sqft
2023-02-01 44 days 2,516 sqft
2023-03-01 36 days 2,634 sqft
2023-04-01 36 days 2,710 sqft
2023-05-01 32 days 2,633 sqft
2023-06-01 33 days 2,606 sqft
2023-07-01 41 days 2,587 sqft
2023-08-01 45 days 2,652 sqft
2023-09-01 43 days 2,602 sqft
2023-10-01 44 days 2,577 sqft
2023-11-01 55 days 2,558 sqft
2023-12-01 76 days 2,464 sqft
2024-01-01 81 days 2,416 sqft
2024-02-01 44 days 2,449 sqft
2024-03-01 32 days 2,434 sqft
Boulder's median listing age (time on market) for 2024-03-01 was 32 days. This is -11% shorter than the same period one year ago.

Boulder's median square footage for active listings during the 2024-03-01 period was 2,434 sqft. One year prior, the average listing was 2,634 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).