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 88 lenders originated 525 FHA loans during 2021. The total origination value was $197,715,000, with an average FHA loan value of $376,600.

Boulder FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Boulder averaged 6.4% for the week of 2022-12-02, compared to the national average (all FHA variants) of 6.466% for the same period.

Boulder's average FHA mortgage closing costs are $10,405.

The average rate for the prior week (2022-11-25) was 6.32% and one month ago for the week of 2022-10-28, the average rate was 6.66%.

The average rate one year ago was 3.49%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.36%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
AMERICAN FINANCING CORPORATION 32 2.96% $12,071
QUICKEN LOANS, LLC 23 2.58% $9,018
UNITED WHOLESALE MORTGAGE, LLC 20 2.57% $12,226
FREEDOM MORTGAGE CORPORATION 14 2.66% $9,262
LAKEVIEW LOAN SERVICING, LLC 14 2.73% $7,696
CALIBER HOME LOANS, INC. 13 2.88% $10,742
Mr. Cooper ( Nationstar Mortgage ) 10 2.86% $7,428
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 10 3.27% $14,534
Elevations Credit Union 9 2.96% $11,575
CHERRY CREEK MORTGAGE, LLC 9 3.10% $3,583
CROSSCOUNTRY MORTGAGE, LLC 9 3.19% $11,941
NEWREZ LLC 7 2.88% $7,605
PRIMARY RESIDENTIAL MORTGAGE, INC. 7 3.13% $15,299
UNIVERSAL LENDING CORPORATION 7 2.54% $11,199
GUILD MORTGAGE COMPANY 7 3.05% $13,335
PLANET HOME LENDING, LLC 5 2.77% $12,381
AmeriHome Mortgage Company, LLC 5 2.80% $9,385
PENNYMAC LOAN SERVICES, LLC 5 2.85% $8,666
HOMEAMERICAN MORTGAGE CORPORATION 4 3.44% $10,775
EAGLE HOME MORTGAGE, LLC 4 3.31% $13,041
VILLAGE CAPITAL MORTGAGE 4 2.56% $4,046
Paramount Residential Mortgage Group, Inc. 3 3.50% $10,809
ACADEMY MORTGAGE CORPORATION 3 2.96% $12,219
CORNERSTONE HOME LENDING, INC. 3 3.42% $13,586
First National Bank of Omaha 3 2.96% $12,043
MOVEMENT MORTGAGE, LLC 3 3.21% $192
HOME MORTGAGE ALLIANCE, LLC 3 2.67% $12,698
LOANDEPOT.COM, LLC 3 2.71% $13,702
HOME POINT FINANCIAL CORPORATION 3 2.71% $10,709
Lakeview Community Capital, LLC 3 2.96% $7,975
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 3 2.63% $11,699
BROKER SOLUTIONS, INC. 3 2.92% $13,256
SUN WEST MORTGAGE COMPANY, INC. 3 3.08% $9,824
Bank of England 2 3.69% $9,414
Amerifirst Financial, Inc. 2 3.00% $12,941
AMERISAVE MORTGAGE CORPORATION 2 2.88% $10,974
AmRes Corporation 2 2.56% $8,181
CITYWIDE HOME LOANS, LLC 2 3.25% $14,940
CMG MORTGAGE, INC. 2 2.50% $12,991
Commerce Home Mortgage, Inc. 2 3.69% $6,363
GUARANTEED RATE, INC. 2 3.13% $11,038
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.56% $9,598
Hometown Lenders, Inc. 2 2.81% $10,867
NFM, INC. 2 3.31% $11,835
NOVA FINANCIAL & INVESTMENT CORPORATION 2 2.81% $11,255
PRIMELENDING, A PLAINSCAPITAL COMPANY 2 3.06% $14,278
SECURITYNATIONAL MORTGAGE COMPANY 2 3.00% $13,046
V.I.P. MORTGAGE, INC. 2 2.94% $9,054
THE MORTGAGE COMPANY 1 2.63% $7,068
INSPIRE HOME LOANS INC. 1 3.50% $10,561
InterContinental Capital Group, Inc 1 3.00% $12,943
KeyBank 1 2.88% $12,296
EVERETT FINANCIAL, INC. 1 3.00% $9,362
Equity Prime Mortgage LLC 1 3.75% $11,557
LENDUS, LLC 1 3.00% $9,423
ENDEAVOR CAPITAL, LLC. 1 3.63% $3,714
LOANLEADERS OF AMERICA, INC. 1 2.99% $28,378
LOANPAL, LLC 1 2.88% $10,779
Loan Simple, Inc. 1 3.25% $15,128
MEGASTAR FINANCIAL CORP. 1 2.75% $13,329
DRAPER AND KRAMER MORTGAGE CORP. 1 3.63% $13,339
DIRECT MORTGAGE, CORP. 1 2.25% $15,446
Nations Lending Corporation 1 3.00% $9,364
NBH Bank 1 3.25% $12,276
NEST HOME LENDING, LLC 1 3.25% $19,611
Network Funding, L.P. 1 3.25% $17,187
Colten Mortgage, LLC 1 3.75% $7,751
American Mortgage & Equity Consultants, Inc. 1 2.88% $11,323
Northpointe Bank 1 3.25% $14,924
AMERICAN FINANCIAL NETWORK, INC. 1 3.75% $8,560
Colonial Savings, F.A. 1 2.75% $7,515
Chickasaw Community Bank 1 2.88% $4,936
Plains Commerce Bank 1 3.25% $9,580
Carrington Mortgage Services, LLC 1 3.13% $9,060
Bank of the West 1 2.50% $5,569
AMCAP MORTGAGE, LTD. 1 3.25% $10,271
Bank of Colorado 1 4.25% $16,012
S1L, Inc. 1 2.88% $14,451
Wells Fargo Bank 1 3.25% $8,437
SOUTHWEST FUNDING, LP 1 3.75% $10,618
Summit Mortgage Corporation 1 2.50% $9,325
GUARANTY HOME MORTGAGE CORPORATION 1 2.38% $9,658
GUARANTEED RATE AFFINITY, LLC 1 2.50% $8,944
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 1 3.13% $10,391
Franklin Loan Corporation 1 2.63% $10,503
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.88% $14,998
Financial Funding Solutions, Inc. 1 2.75% $10,401
FINANCE OF AMERICA MORTGAGE LLC 1 3.75% $8,598

The top Boulder FHA lender as defined by loan originations is AMERICAN FINANCING CORPORATION, with 32 FHA loans originated. Their average total fees are $12,071, which is $3,052 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Boulder FHA lenders (with over 10 loans originated) are Mr. Cooper ( Nationstar Mortgage ) ($7,428), LAKEVIEW LOAN SERVICING, LLC ($7,696), QUICKEN LOANS, LLC ($9,018), FREEDOM MORTGAGE CORPORATION ($9,262) and CALIBER HOME LOANS, INC. ($10,742).

The lowest rate Boulder FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (2.57%), QUICKEN LOANS, LLC (2.58%), FREEDOM MORTGAGE CORPORATION (2.66%), LAKEVIEW LOAN SERVICING, LLC (2.73%) and Mr. Cooper ( Nationstar Mortgage ) (2.86%).

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

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 $665,233 (-3.6%) $1,120,716 (-8.8%) 2.47 476
2018-02-01 $734,450 (4.9%) $1,224,549 (-3.0%) 2.67 476
2018-03-01 $770,425 (10.5%) $1,198,263 (-0.4%) 2.70 530
2018-04-01 $749,138 (7.1%) $1,181,812 (0.9%) 2.54 658
2018-05-01 $742,475 (6.3%) $1,156,739 (3.9%) 2.48 741
2018-06-01 $710,000 (3.6%) $1,073,770 (2.5%) 2.37 849
2018-07-01 $700,750 (5.4%) $1,055,352 (1.8%) 2.34 881
2018-08-01 $651,738 (1.0%) $997,000 (-1.1%) 2.18 936
2018-09-01 $634,990 (0.0%) $975,101 (-2.5%) 2.13 945
2018-10-01 $634,027 (-2.5%) $993,709 (-4.3%) 2.14 921
2018-11-01 $637,493 (-2.6%) $1,015,503 (-5.9%) 2.16 809
2018-12-01 $658,450 (-0.2%) $1,028,360 (-8.7%) 2.27 670
2019-01-01 $624,900 (-6.1%) $999,804 (-10.8%) 2.16 612
2019-02-01 $642,500 (-12.5%) $1,011,130 (-17.4%) 2.17 663
2019-03-01 $640,579 (-16.9%) $1,030,195 (-14.0%) 2.09 757
2019-04-01 $656,779 (-12.3%) $1,031,709 (-12.7%) 2.09 866
2019-05-01 $659,950 (-11.1%) $1,036,958 (-10.4%) 2.06 1,002
2019-06-01 $669,000 (-5.8%) $1,040,152 (-3.1%) 2.09 1,095
2019-07-01 $679,000 (-3.1%) $1,020,494 (-3.3%) 2.13 1,179
2019-08-01 $665,986 (2.2%) $1,004,949 (0.8%) 2.11 1,180
2019-09-01 $668,216 (5.2%) $1,009,787 (3.6%) 2.14 1,165
2019-10-01 $667,677 (5.3%) $1,013,012 (1.9%) 2.15 1,143
2019-11-01 $664,973 (4.3%) $1,026,276 (1.1%) 2.18 979
2019-12-01 $665,188 (1.0%) $1,064,927 (3.6%) 2.22 759
2020-01-01 $650,000 (4.0%) $1,057,246 (5.8%) 2.17 619
2020-02-01 $688,000 (7.1%) $1,104,272 (9.2%) 2.25 599
2020-03-01 $719,231 (12.3%) $1,104,965 (7.3%) 2.25 638
2020-04-01 $710,151 (8.1%) $1,057,901 (2.5%) 2.22 704
2020-05-01 $741,978 (12.4%) $1,062,155 (2.4%) 2.26 858
2020-06-01 $745,989 (11.5%) $1,076,959 (3.5%) 2.20 958
2020-07-01 $749,500 (10.4%) $1,088,666 (6.7%) 2.17 892
2020-08-01 $756,250 (13.6%) $1,121,437 (11.6%) 2.17 807
2020-09-01 $714,850 (7.0%) $1,109,238 (9.9%) 2.05 802
2020-10-01 $742,655 (11.2%) $1,170,165 (15.5%) 2.13 778
2020-11-01 $760,738 (14.4%) $1,217,638 (18.7%) 2.22 602
2020-12-01 $793,675 (19.3%) $1,295,022 (21.6%) 2.36 479
2021-01-01 $845,000 (30.0%) $1,351,743 (27.9%) 2.52 366
2021-02-01 $882,500 (28.3%) $1,342,045 (21.5%) 2.57 312
2021-03-01 $837,250 (16.4%) $1,357,821 (22.9%) 2.38 291
2021-04-01 $802,250 (13.0%) $1,363,779 (28.9%) 2.17 330
2021-05-01 $799,900 (7.8%) $1,343,322 (26.5%) 2.12 334
2021-06-01 $799,950 (7.2%) $1,293,205 (20.1%) 2.11 437
2021-07-01 $785,000 (4.7%) $1,256,250 (15.4%) 2.07 449
2021-08-01 $758,500 (0.3%) $1,196,158 (6.7%) 2.02 477
2021-09-01 $749,988 (4.9%) $1,153,263 (4.0%) 2.00 468
2021-10-01 $795,000 (7.1%) $1,212,272 (3.6%) 2.12 399
2021-11-01 $804,250 (5.7%) $1,329,024 (9.2%) 2.15 303
2021-12-01 $803,475 (1.2%) $1,341,052 (3.6%) 2.18 419
2022-01-01 $820,000 (-3.0%) $1,518,972 (12.4%) 2.22 154
2022-02-01 $862,933 (-2.2%) $1,619,355 (20.7%) 2.24 172
2022-03-01 $822,000 (-1.8%) $1,465,633 (7.9%) 2.06 214
2022-04-01 $866,950 (8.1%) $1,481,788 (8.7%) 2.07 259
2022-05-01 $870,000 (8.8%) $1,419,510 (5.7%) 1.99 476
2022-06-01 $885,000 (10.6%) $1,412,885 (9.3%) 1.97 639
2022-07-01 $859,000 (9.4%) $1,353,728 (7.8%) 1.94 765
2022-08-01 $827,000 (9.0%) $1,310,320 (9.5%) 1.91 815
2022-09-01 $834,500 (11.3%) $1,340,325 (16.2%) 1.95 798
2022-10-01 $820,000 (3.1%) $1,351,241 (11.5%) 1.93 804
2022-11-01 $833,750 (3.7%) $1,402,883 (5.6%) 2.01 697
Boulder's median listing price for 2022-11-01 was $833,750, a difference of $29,500 (3.7%) versus the prior year and $13,750 versus the prior month.

Boulder's median listing price comes in at 201% of the national average.

Boulder's average listing price for 2022-11-01 was $1,402,883, a difference of $73,859 (5.6%) versus the prior year and $51,642 versus the prior month.

For the 2022-11-01 period, Boulder had 697 MLS listings, a difference of -107 listings (-13%) versus the prior month and 394 listings (130%) 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 64 days 3,008 sqft
2018-02-01 41 days 3,136 sqft
2018-03-01 37 days 3,096 sqft
2018-04-01 31 days 3,072 sqft
2018-05-01 32 days 2,975 sqft
2018-06-01 33 days 2,936 sqft
2018-07-01 38 days 2,747 sqft
2018-08-01 45 days 2,586 sqft
2018-09-01 49 days 2,584 sqft
2018-10-01 48 days 2,618 sqft
2018-11-01 54 days 2,592 sqft
2018-12-01 71 days 2,587 sqft
2019-01-01 73 days 2,463 sqft
2019-02-01 42 days 2,425 sqft
2019-03-01 38 days 2,569 sqft
2019-04-01 35 days 2,678 sqft
2019-05-01 32 days 2,675 sqft
2019-06-01 38 days 2,635 sqft
2019-07-01 41 days 2,601 sqft
2019-08-01 45 days 2,552 sqft
2019-09-01 49 days 2,549 sqft
2019-10-01 52 days 2,532 sqft
2019-11-01 58 days 2,527 sqft
2019-12-01 81 days 2,584 sqft
2020-01-01 81 days 2,544 sqft
2020-02-01 43 days 2,559 sqft
2020-03-01 43 days 2,571 sqft
2020-04-01 45 days 2,496 sqft
2020-05-01 44 days 2,517 sqft
2020-06-01 40 days 2,496 sqft
2020-07-01 47 days 2,449 sqft
2020-08-01 50 days 2,381 sqft
2020-09-01 45 days 2,297 sqft
2020-10-01 45 days 2,296 sqft
2020-11-01 64 days 2,315 sqft
2020-12-01 80 days 2,325 sqft
2021-01-01 97 days 2,206 sqft
2021-02-01 89 days 2,266 sqft
2021-03-01 50 days 2,258 sqft
2021-04-01 37 days 2,222 sqft
2021-05-01 35 days 2,300 sqft
2021-06-01 20 days 2,355 sqft
2021-07-01 32 days 2,354 sqft
2021-08-01 31 days 2,295 sqft
2021-09-01 31 days 2,276 sqft
2021-10-01 36 days 2,228 sqft
2021-11-01 38 days 2,355 sqft
2021-12-01 47 days 2,288 sqft
2022-01-01 36 days 2,447 sqft
2022-02-01 20 days 2,471 sqft
2022-03-01 18 days 2,366 sqft
2022-04-01 16 days 2,481 sqft
2022-05-01 16 days 2,519 sqft
2022-06-01 22 days 2,539 sqft
2022-07-01 30 days 2,496 sqft
2022-08-01 36 days 2,360 sqft
2022-09-01 42 days 2,398 sqft
2022-10-01 43 days 2,423 sqft
2022-11-01 51 days 2,480 sqft
Boulder's median listing age (time on market) for 2022-11-01 was 51 days. This is 33% longer than the same period one year ago.

Boulder's median square footage for active listings during the 2022-11-01 period was 2,480 sqft. One year prior, the average listing was 2,355 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).