Cañon City FHA Loan Rates, Closing Costs & Stats
Cañon City, 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.
Cañon City's 50 lenders originated 175 FHA loans during 2023. The total origination value was $45,125,000, with an average FHA loan value of $257,857.
Cañon City FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Cañon City
averaged
6.05%
for the week of 2024-10-04, compared to the national average (all FHA variants) of
5.885% for the same period.
Cañon City's average FHA mortgage closing costs are $8,719.
The average rate for the prior week (2024-09-27) was
5.64% and
one month ago for the week of 2024-08-30, the
average rate was 6%.
The average rate one year ago was 7.34%.
For refis of the same type during the week of 2024-10-04, the average rate
was 5.79%.
Cañon City 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 Cañon City level.
The top Cañon City FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
29 FHA loans originated. Their average total fees are
$12,644, which is $2,860
higher than the next largest lender,
The Central Trust Bank.
The lowest fee Cañon City FHA lenders (with over 10 loans originated) are
The Central Trust Bank ($9,783), QUICKEN LOANS, LLC ($10,566), THE MORTGAGE COMPANY ($11,272), UNITED WHOLESALE MORTGAGE, LLC ($12,644) and .
The lowest rate Cañon City FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (5.87%), UNITED WHOLESALE MORTGAGE, LLC (6.13%), THE MORTGAGE COMPANY (6.56%), The Central Trust Bank (6.57%) and .
Cañon City FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
CANON CITY, CO | FREMONT | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
CANON CITY, CO | FREMONT | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Cañon City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $279,975 (13.8%) | $388,350 (11.5%) | 0.00 | 168 |
2018-02-01 | $291,250 (20.1%) | $399,052 (14.0%) | 0.00 | 163 |
2018-03-01 | $302,500 (5.6%) | $369,987 (0.7%) | 0.00 | 163 |
2018-04-01 | $324,190 (11.8%) | $389,474 (0.7%) | 0.00 | 178 |
2018-05-01 | $320,979 (-0.5%) | $422,219 (6.4%) | 0.00 | 203 |
2018-06-01 | $328,257 (9.6%) | $428,161 (12.5%) | 0.00 | 229 |
2018-07-01 | $317,500 (8.7%) | $421,987 (14.9%) | 0.00 | 229 |
2018-08-01 | $313,700 (6.4%) | $410,276 (9.6%) | 0.00 | 239 |
2018-09-01 | $300,000 (4.0%) | $399,491 (5.4%) | 0.00 | 251 |
2018-10-01 | $299,900 (-6.6%) | $390,066 (-3.0%) | 0.00 | 262 |
2018-11-01 | $314,150 (7.7%) | $396,164 (2.2%) | 0.00 | 244 |
2018-12-01 | $299,900 (9.0%) | $399,824 (4.9%) | 0.00 | 216 |
2019-01-01 | $299,900 (7.1%) | $401,195 (3.3%) | 0.00 | 204 |
2019-02-01 | $311,575 (7.0%) | $405,333 (1.6%) | 0.00 | 187 |
2019-03-01 | $326,400 (7.9%) | $418,127 (13.0%) | 0.00 | 195 |
2019-04-01 | $329,000 (1.5%) | $430,669 (10.6%) | 0.00 | 205 |
2019-05-01 | $321,990 (0.3%) | $412,634 (-2.3%) | 0.00 | 216 |
2019-06-01 | $326,850 (-0.4%) | $421,043 (-1.7%) | 0.00 | 234 |
2019-07-01 | $325,463 (2.5%) | $423,108 (0.3%) | 0.00 | 253 |
2019-08-01 | $322,259 (2.7%) | $422,832 (3.1%) | 0.00 | 255 |
2019-09-01 | $318,148 (6.1%) | $416,653 (4.3%) | 0.00 | 256 |
2019-10-01 | $315,432 (5.2%) | $412,765 (5.8%) | 0.00 | 257 |
2019-11-01 | $312,000 (-0.7%) | $405,411 (2.3%) | 0.00 | 234 |
2019-12-01 | $298,700 (-0.4%) | $402,320 (0.6%) | 0.00 | 232 |
2020-01-01 | $285,000 (-5.0%) | $403,671 (0.6%) | 0.00 | 218 |
2020-02-01 | $310,000 (-0.5%) | $426,383 (5.2%) | 0.00 | 200 |
2020-03-01 | $325,000 (-0.4%) | $447,176 (7.0%) | 0.00 | 202 |
2020-04-01 | $328,450 (-0.2%) | $449,283 (4.3%) | 0.00 | 192 |
2020-05-01 | $350,950 (9.0%) | $448,460 (8.7%) | 0.00 | 190 |
2020-06-01 | $350,000 (7.1%) | $459,290 (9.1%) | 0.00 | 193 |
2020-07-01 | $358,000 (10.0%) | $462,989 (9.4%) | 0.00 | 181 |
2020-08-01 | $356,500 (10.6%) | $483,476 (14.3%) | 0.00 | 172 |
2020-09-01 | $345,125 (8.5%) | $470,786 (13.0%) | 0.00 | 158 |
2020-10-01 | $354,000 (12.2%) | $468,134 (13.4%) | 0.00 | 139 |
2020-11-01 | $359,925 (15.4%) | $474,472 (17.0%) | 0.00 | 123 |
2020-12-01 | $349,365 (17.0%) | $453,356 (12.7%) | 0.00 | 123 |
2021-01-01 | $349,758 (22.7%) | $446,043 (10.5%) | 0.00 | 100 |
2021-02-01 | $329,400 (6.3%) | $429,230 (0.7%) | 0.00 | 87 |
2021-03-01 | $364,250 (12.1%) | $441,684 (-1.2%) | 0.00 | 74 |
2021-04-01 | $385,794 (17.5%) | $466,430 (3.8%) | 0.00 | 70 |
2021-05-01 | $428,500 (22.1%) | $533,418 (18.9%) | 0.00 | 67 |
2021-06-01 | $408,250 (16.6%) | $584,357 (27.2%) | 0.00 | 91 |
2021-07-01 | $410,000 (14.5%) | $604,915 (30.7%) | 0.00 | 100 |
2021-08-01 | $399,750 (12.1%) | $575,440 (19.0%) | 0.00 | 118 |
2021-09-01 | $393,817 (14.1%) | $521,250 (10.7%) | 0.00 | 151 |
2021-10-01 | $359,000 (1.4%) | $486,815 (4.0%) | 0.00 | 144 |
2021-11-01 | $371,200 (3.1%) | $544,493 (14.8%) | 0.00 | 125 |
2021-12-01 | $381,225 (9.1%) | $614,033 (35.4%) | 0.00 | 106 |
2022-01-01 | $400,000 (14.4%) | $686,219 (53.9%) | 0.00 | 98 |
2022-02-01 | $415,000 (26.0%) | $730,167 (70.1%) | 0.00 | 85 |
2022-03-01 | $442,999 (21.6%) | $754,172 (70.8%) | 0.00 | 77 |
2022-04-01 | $437,500 (13.4%) | $703,478 (50.8%) | 0.00 | 99 |
2022-05-01 | $431,975 (0.8%) | $642,517 (20.5%) | 0.00 | 136 |
2022-06-01 | $416,750 (2.1%) | $595,475 (1.9%) | 0.00 | 161 |
2022-07-01 | $404,950 (-1.2%) | $575,843 (-4.8%) | 0.00 | 205 |
2022-08-01 | $420,875 (5.3%) | $594,880 (3.4%) | 0.00 | 224 |
2022-09-01 | $398,250 (1.1%) | $584,667 (12.2%) | 0.00 | 236 |
2022-10-01 | $375,000 (4.5%) | $564,798 (16.0%) | 0.00 | 237 |
2022-11-01 | $371,450 (0.1%) | $513,841 (-5.6%) | 0.00 | 226 |
2022-12-01 | $369,000 (-3.2%) | $502,094 (-18.2%) | 0.00 | 205 |
2023-01-01 | $364,125 (-9.0%) | $501,468 (-26.9%) | 0.00 | 179 |
2023-02-01 | $363,938 (-12.3%) | $524,111 (-28.2%) | 0.00 | 149 |
2023-03-01 | $394,500 (-11.0%) | $537,509 (-28.7%) | 0.00 | 147 |
2023-04-01 | $437,900 (0.1%) | $566,451 (-19.5%) | 0.00 | 149 |
2023-05-01 | $455,000 (5.3%) | $610,856 (-4.9%) | 0.00 | 140 |
2023-06-01 | $463,700 (11.3%) | $624,827 (4.9%) | 0.00 | 153 |
2023-07-01 | $475,000 (17.3%) | $631,032 (9.6%) | 0.00 | 171 |
2023-08-01 | $475,000 (12.9%) | $606,734 (2.0%) | 0.00 | 180 |
2023-09-01 | $455,000 (14.3%) | $599,160 (2.5%) | 0.00 | 196 |
2023-10-01 | $429,250 (14.5%) | $559,827 (-0.9%) | 0.00 | 205 |
2023-11-01 | $420,000 (13.1%) | $544,059 (5.9%) | 0.00 | 211 |
2023-12-01 | $425,000 (15.2%) | $530,246 (5.6%) | 0.00 | 189 |
2024-01-01 | $424,975 (16.7%) | $517,484 (3.2%) | 0.00 | 177 |
2024-02-01 | $422,000 (16.0%) | $535,309 (2.1%) | 0.00 | 164 |
2024-03-01 | $437,500 (10.9%) | $522,672 (-2.8%) | 0.00 | 153 |
2024-04-01 | $452,500 (3.3%) | $514,243 (-9.2%) | 0.00 | 172 |
2024-05-01 | $454,750 (-0.1%) | $535,612 (-12.3%) | 0.00 | 200 |
2024-06-01 | $455,000 (-1.9%) | $560,771 (-10.3%) | 0.00 | 222 |
2024-07-01 | $459,000 (-3.4%) | $579,962 (-8.1%) | 0.00 | 236 |
2024-08-01 | $459,900 (-3.2%) | $590,465 (-2.7%) | 0.00 | 253 |
2024-09-01 | $454,975 (0.0%) | $586,060 (-2.2%) | 0.00 | 269 |
Cañon City's median listing price comes in at 0% of the national average.
Cañon City's average listing price for 2024-09-01 was $586,060, a difference of $-13,100 (-2.2%) versus the prior year and $-4,405 versus the prior month.
For the 2024-09-01 period, Cañon City had 269 MLS listings, a difference of 16 listings (6%) versus the prior month and 73 listings (37%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Cañon City (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,075 sqft |
2018-02-01 | 0 days | 2,117 sqft |
2018-03-01 | 0 days | 2,208 sqft |
2018-04-01 | 0 days | 2,342 sqft |
2018-05-01 | 0 days | 2,191 sqft |
2018-06-01 | 0 days | 2,179 sqft |
2018-07-01 | 0 days | 2,140 sqft |
2018-08-01 | 0 days | 2,082 sqft |
2018-09-01 | 0 days | 1,945 sqft |
2018-10-01 | 0 days | 1,997 sqft |
2018-11-01 | 0 days | 1,942 sqft |
2018-12-01 | 0 days | 1,885 sqft |
2019-01-01 | 0 days | 1,843 sqft |
2019-02-01 | 0 days | 2,002 sqft |
2019-03-01 | 0 days | 2,055 sqft |
2019-04-01 | 0 days | 2,054 sqft |
2019-05-01 | 0 days | 1,948 sqft |
2019-06-01 | 0 days | 2,052 sqft |
2019-07-01 | 0 days | 2,074 sqft |
2019-08-01 | 0 days | 2,087 sqft |
2019-09-01 | 0 days | 1,984 sqft |
2019-10-01 | 0 days | 1,904 sqft |
2019-11-01 | 0 days | 1,849 sqft |
2019-12-01 | 0 days | 1,833 sqft |
2020-01-01 | 0 days | 1,772 sqft |
2020-02-01 | 0 days | 1,782 sqft |
2020-03-01 | 0 days | 1,850 sqft |
2020-04-01 | 0 days | 1,938 sqft |
2020-05-01 | 0 days | 2,000 sqft |
2020-06-01 | 0 days | 2,016 sqft |
2020-07-01 | 0 days | 2,089 sqft |
2020-08-01 | 0 days | 2,016 sqft |
2020-09-01 | 0 days | 1,883 sqft |
2020-10-01 | 0 days | 1,824 sqft |
2020-11-01 | 0 days | 2,031 sqft |
2020-12-01 | 0 days | 1,834 sqft |
2021-01-01 | 0 days | 1,712 sqft |
2021-02-01 | 0 days | 1,634 sqft |
2021-03-01 | 0 days | 1,751 sqft |
2021-04-01 | 0 days | 1,598 sqft |
2021-05-01 | 0 days | 1,920 sqft |
2021-06-01 | 0 days | 2,003 sqft |
2021-07-01 | 0 days | 1,969 sqft |
2021-08-01 | 0 days | 1,890 sqft |
2021-09-01 | 0 days | 1,856 sqft |
2021-10-01 | 0 days | 1,826 sqft |
2021-11-01 | 0 days | 1,802 sqft |
2021-12-01 | 0 days | 1,781 sqft |
2022-01-01 | 0 days | 1,863 sqft |
2022-02-01 | 0 days | 1,881 sqft |
2022-03-01 | 0 days | 1,865 sqft |
2022-04-01 | 0 days | 1,870 sqft |
2022-05-01 | 0 days | 1,806 sqft |
2022-06-01 | 0 days | 1,703 sqft |
2022-07-01 | 0 days | 1,693 sqft |
2022-08-01 | 0 days | 1,701 sqft |
2022-09-01 | 0 days | 1,693 sqft |
2022-10-01 | 0 days | 1,667 sqft |
2022-11-01 | 0 days | 1,636 sqft |
2022-12-01 | 0 days | 1,683 sqft |
2023-01-01 | 0 days | 1,644 sqft |
2023-02-01 | 0 days | 1,732 sqft |
2023-03-01 | 0 days | 1,890 sqft |
2023-04-01 | 0 days | 1,981 sqft |
2023-05-01 | 0 days | 2,048 sqft |
2023-06-01 | 0 days | 1,887 sqft |
2023-07-01 | 0 days | 2,085 sqft |
2023-08-01 | 0 days | 2,117 sqft |
2023-09-01 | 0 days | 1,999 sqft |
2023-10-01 | 0 days | 1,858 sqft |
2023-11-01 | 0 days | 1,792 sqft |
2023-12-01 | 0 days | 1,849 sqft |
2024-01-01 | 0 days | 1,782 sqft |
2024-02-01 | 0 days | 1,781 sqft |
2024-03-01 | 0 days | 1,756 sqft |
2024-04-01 | 0 days | 1,845 sqft |
2024-05-01 | 0 days | 1,862 sqft |
2024-06-01 | 0 days | 1,804 sqft |
2024-07-01 | 0 days | 1,805 sqft |
2024-08-01 | 0 days | 1,908 sqft |
2024-09-01 | 0 days | 1,882 sqft |
Cañon City's median square footage for active listings during the 2024-09-01 period was 1,882 sqft. One year prior, the average listing was 1,999 sqft.