Boulder FHA Loan Rates, Closing Costs & Stats

BOULDER, CO

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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.

    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 6.59% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

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

    The average rate for the prior week (2024-04-12) was 6.78% and one month ago for the week of 2024-03-15, the average rate was 6.55%.

    The average rate one year ago was 6.28%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.68%.

    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).