Edwards FHA Loan Rates, Closing Costs & Stats

Edwards, 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.

Edwards's 30 lenders originated 105 FHA loans during 2021. The total origination value was $45,965,000, with an average FHA loan value of $437,762.

Edwards FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Edwards 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.

Edwards's average FHA mortgage closing costs are $11,845.

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 3.09%.

For refis of the same type during the week of 2022-12-02, the average rate was 6.14%.

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

Edwards 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 Edwards level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
SECURITYNATIONAL MORTGAGE COMPANY 18 3.11% $15,173
ALL WESTERN MORTGAGE, INC. 8 3.69% $11,772
AMERICAN FINANCING CORPORATION 6 2.92% $14,049
QUICKEN LOANS, LLC 5 2.62% $10,818
CALIBER HOME LOANS, INC. 4 2.38% $11,842
BAY EQUITY LLC 4 3.25% $14,900
FREEDOM MORTGAGE CORPORATION 3 2.46% $10,258
HOME POINT FINANCIAL CORPORATION 3 2.75% $9,321
BOKF 3 2.63% $12,268
PENNYMAC LOAN SERVICES, LLC 3 3.04% $6,193
ACADEMY MORTGAGE CORPORATION 3 3.42% $13,621
UNITED WHOLESALE MORTGAGE, LLC 2 2.41% $16,469
Bank of Colorado 2 2.56% $11,134
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 2.75% $8,131
FINANCE OF AMERICA MORTGAGE LLC 1 2.75% $14,182
GUARANTEED RATE, INC. 1 2.88% $11,536
GUILD MORTGAGE COMPANY 1 2.50% $10,101
AmeriHome Mortgage Company, LLC 1 2.63% $9,370
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 3.25% $14,985
LAKEVIEW LOAN SERVICING, LLC 1 2.63% $8,506
NATIONS DIRECT MORTGAGE, LLC 1 3.25% $7,787
NBH Bank 1 3.00% $12,151
Paramount Residential Mortgage Group, Inc. 1 2.63% $15,811
BROKER SOLUTIONS, INC. 1 2.75% $11,049
PRIMARY RESIDENTIAL MORTGAGE, INC. 1 3.00% $13,250
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 2.88% $20,401
S1L, Inc. 1 2.99% $19,120
AMERISAVE MORTGAGE CORPORATION 1 2.38% $10,932
TOP FLITE FINANCIAL, INC. 1 3.63% $35,149
FLAT BRANCH MORTGAGE, INC. 1 3.50% $9,966

The top Edwards FHA lender as defined by loan originations is SECURITYNATIONAL MORTGAGE COMPANY, with 18 FHA loans originated. Their average total fees are $15,173, which is $3,401 higher than the next largest lender, ALL WESTERN MORTGAGE, INC..

The lowest fee Edwards FHA lenders (with over 10 loans originated) are SECURITYNATIONAL MORTGAGE COMPANY ($15,173), .

The lowest rate Edwards FHA lenders (with over 10 loans originated) are SECURITYNATIONAL MORTGAGE COMPANY (3.11%), .

Edwards FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
EDWARDS, CO EAGLE 2022 $862,500 $1,104,150 $1,334,700 $1,658,700

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Edwards (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 $849,500 (0.0%) $1,910,694 (-1.4%) 0.00 910
2018-02-01 $885,500 (4.8%) $1,963,043 (3.1%) 0.00 877
2018-03-01 $849,000 (-0.2%) $1,899,698 (-2.9%) 0.00 939
2018-04-01 $824,000 (3.1%) $1,846,047 (-3.5%) 0.00 922
2018-05-01 $788,500 (-6.0%) $1,726,585 (-7.8%) 0.00 936
2018-06-01 $799,000 (-4.0%) $1,727,814 (-5.8%) 0.00 1,000
2018-07-01 $838,750 (-1.2%) $1,861,148 (-2.1%) 0.00 1,102
2018-08-01 $799,500 (-5.8%) $1,883,138 (-2.7%) 0.00 1,095
2018-09-01 $799,000 (-9.1%) $1,896,464 (-6.1%) 0.00 1,042
2018-10-01 $775,750 (-10.5%) $1,883,272 (-7.5%) 0.00 998
2018-11-01 $767,500 (-9.6%) $1,902,808 (-6.3%) 0.00 976
2018-12-01 $799,000 (-7.4%) $1,991,502 (1.8%) 0.00 983
2019-01-01 $823,375 (-3.1%) $1,982,774 (3.8%) 0.00 981
2019-02-01 $868,750 (-1.9%) $2,002,892 (2.0%) 0.00 976
2019-03-01 $814,429 (-4.1%) $1,901,120 (0.1%) 0.00 980
2019-04-01 $751,750 (-8.8%) $1,810,729 (-1.9%) 0.00 985
2019-05-01 $739,250 (-6.3%) $1,811,658 (4.9%) 0.00 941
2019-06-01 $799,500 (0.1%) $1,815,587 (5.1%) 0.00 1,048
2019-07-01 $855,750 (2.0%) $1,985,679 (6.7%) 0.00 1,124
2019-08-01 $832,455 (4.1%) $1,991,109 (5.7%) 0.00 1,086
2019-09-01 $813,636 (1.8%) $2,008,748 (5.9%) 0.00 1,032
2019-10-01 $793,250 (2.3%) $2,020,119 (7.3%) 0.00 991
2019-11-01 $772,000 (0.6%) $2,014,296 (5.9%) 0.00 969
2019-12-01 $916,250 (14.7%) $2,098,774 (5.4%) 0.00 968
2020-01-01 $922,500 (12.0%) $2,189,508 (10.4%) 0.00 906
2020-02-01 $935,000 (7.6%) $2,221,464 (10.9%) 0.00 885
2020-03-01 $932,000 (14.4%) $2,204,332 (16.0%) 0.00 922
2020-04-01 $830,725 (10.5%) $2,005,995 (10.8%) 0.00 896
2020-05-01 $799,000 (8.1%) $1,897,702 (4.8%) 0.00 891
2020-06-01 $895,000 (11.9%) $1,965,370 (8.3%) 0.00 905
2020-07-01 $869,975 (1.7%) $2,022,415 (1.9%) 0.00 919
2020-08-01 $899,000 (8.0%) $2,251,764 (13.1%) 0.00 893
2020-09-01 $935,000 (14.9%) $2,242,036 (11.6%) 0.00 812
2020-10-01 $899,000 (13.3%) $2,351,236 (16.4%) 0.00 727
2020-11-01 $788,500 (2.1%) $2,439,842 (21.1%) 0.00 690
2020-12-01 $827,000 (-9.7%) $2,539,215 (21.0%) 0.00 649
2021-01-01 $729,500 (-20.9%) $2,663,228 (21.6%) 0.00 608
2021-02-01 $669,000 (-28.5%) $2,773,703 (24.9%) 0.00 579
2021-03-01 $720,750 (-22.7%) $2,731,551 (23.9%) 0.00 562
2021-04-01 $633,500 (-23.7%) $2,683,758 (33.8%) 0.00 539
2021-05-01 $625,000 (-21.8%) $2,592,180 (36.6%) 0.00 477
2021-06-01 $756,250 (-15.5%) $2,635,349 (34.1%) 0.00 499
2021-07-01 $867,000 (-0.3%) $2,645,599 (30.8%) 0.00 521
2021-08-01 $992,500 (10.4%) $2,719,707 (20.8%) 0.00 503
2021-09-01 $925,750 (-1.0%) $2,604,840 (16.2%) 0.00 494
2021-10-01 $859,000 (-4.5%) $2,348,153 (-0.1%) 0.00 452
2021-11-01 $498,250 (-36.8%) $2,222,771 (-8.9%) 0.00 406
2021-12-01 $403,750 (-51.2%) $2,325,954 (-8.4%) 0.00 390
2022-01-01 $210,000 (-71.2%) $2,277,617 (-14.5%) 0.00 382
2022-02-01 $701,250 (4.8%) $2,350,712 (-15.3%) 0.00 392
2022-03-01 $819,475 (13.7%) $2,401,926 (-12.1%) 0.00 371
2022-04-01 $1,022,000 (61.3%) $2,263,586 (-15.7%) 0.00 375
2022-05-01 $1,113,750 (78.2%) $2,414,264 (-6.9%) 0.00 381
2022-06-01 $1,333,250 (76.3%) $2,382,702 (-9.6%) 0.00 442
2022-07-01 $1,350,000 (55.7%) $2,511,422 (-5.1%) 0.00 538
2022-08-01 $1,298,000 (30.8%) $2,478,760 (-8.9%) 0.00 532
2022-09-01 $1,291,250 (39.5%) $2,358,672 (-9.5%) 0.00 498
2022-10-01 $1,299,000 (51.2%) $2,356,904 (0.4%) 0.00 496
2022-11-01 $1,301,000 (161.1%) $2,491,211 (12.1%) 0.00 479
Edwards's median listing price for 2022-11-01 was $1,301,000, a difference of $802,750 (161.1%) versus the prior year and $2,000 versus the prior month.

Edwards's median listing price comes in at 0% of the national average.

Edwards's average listing price for 2022-11-01 was $2,491,211, a difference of $268,440 (12.1%) versus the prior year and $134,307 versus the prior month.

For the 2022-11-01 period, Edwards had 479 MLS listings, a difference of -17 listings (-3%) versus the prior month and 73 listings (18%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Edwards (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 0 days 1,882 sqft
2018-02-01 0 days 1,905 sqft
2018-03-01 0 days 1,900 sqft
2018-04-01 0 days 1,843 sqft
2018-05-01 0 days 1,837 sqft
2018-06-01 0 days 1,843 sqft
2018-07-01 0 days 1,893 sqft
2018-08-01 0 days 1,874 sqft
2018-09-01 0 days 1,825 sqft
2018-10-01 0 days 1,809 sqft
2018-11-01 0 days 1,805 sqft
2018-12-01 0 days 1,809 sqft
2019-01-01 0 days 1,818 sqft
2019-02-01 0 days 1,828 sqft
2019-03-01 0 days 1,817 sqft
2019-04-01 0 days 1,802 sqft
2019-05-01 0 days 1,826 sqft
2019-06-01 0 days 1,847 sqft
2019-07-01 0 days 1,894 sqft
2019-08-01 0 days 1,889 sqft
2019-09-01 0 days 1,890 sqft
2019-10-01 0 days 1,886 sqft
2019-11-01 0 days 1,870 sqft
2019-12-01 0 days 1,817 sqft
2020-01-01 0 days 1,804 sqft
2020-02-01 0 days 1,847 sqft
2020-03-01 0 days 1,816 sqft
2020-04-01 0 days 1,752 sqft
2020-05-01 0 days 1,787 sqft
2020-06-01 0 days 1,800 sqft
2020-07-01 0 days 1,800 sqft
2020-08-01 0 days 1,737 sqft
2020-09-01 0 days 1,704 sqft
2020-10-01 0 days 1,705 sqft
2020-11-01 0 days 1,688 sqft
2020-12-01 0 days 1,691 sqft
2021-01-01 0 days 1,698 sqft
2021-02-01 0 days 1,726 sqft
2021-03-01 0 days 1,733 sqft
2021-04-01 0 days 1,783 sqft
2021-05-01 0 days 1,800 sqft
2021-06-01 0 days 1,815 sqft
2021-07-01 0 days 1,874 sqft
2021-08-01 0 days 1,885 sqft
2021-09-01 0 days 1,879 sqft
2021-10-01 0 days 1,868 sqft
2021-11-01 0 days 1,743 sqft
2021-12-01 0 days 1,688 sqft
2022-01-01 0 days 1,600 sqft
2022-02-01 0 days 1,633 sqft
2022-03-01 0 days 1,672 sqft
2022-04-01 0 days 1,670 sqft
2022-05-01 0 days 1,713 sqft
2022-06-01 0 days 1,805 sqft
2022-07-01 0 days 1,881 sqft
2022-08-01 0 days 1,835 sqft
2022-09-01 0 days 1,801 sqft
2022-10-01 0 days 1,825 sqft
2022-11-01 0 days 1,794 sqft
Edwards's median listing age (time on market) for 2022-11-01 was 0 days.

Edwards's median square footage for active listings during the 2022-11-01 period was 1,794 sqft. One year prior, the average listing was 1,743 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).