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 13 lenders originated 29 FHA loans during 2023. The total origination value was $16,175,000, with an average FHA loan value of $557,759.

Edwards FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Edwards averaged 6.24% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

Edwards's average FHA mortgage closing costs are $13,026.

The average rate for the prior week (2024-12-06) was 6.51% and one month ago for the week of 2024-11-08, the average rate was 6.37%.

The average rate one year ago was 6.88%.

For refis of the same type during the week of 2024-12-13, the average rate was 6.48%.

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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
QUICKEN LOANS, LLC 5 6.57% $25,167
Bank of England 3 6.29% $20,994
LOANDEPOT.COM, LLC 2 4.93% $34,334
GUARANTEED RATE, INC. 2 6.19% $20,001
SECURITYNATIONAL MORTGAGE COMPANY 2 6.88% $18,536
BAY EQUITY LLC 2 6.63% $17,742
ACADEMY MORTGAGE CORPORATION 1 5.88% $21,304
UNITED WHOLESALE MORTGAGE, LLC 1 7.39% $16,569
AMERICAN FINANCING CORPORATION 1 6.63% $40,191
CITY FIRST MORTGAGE SERVICES, L.L.C. 1 6.25% $17,517
Ixonia Bank 1 7.50% $16,696
Loan Simple, Inc. 1 6.50% $22,519
M&T Bank 1 6.25% $23,488

The top Edwards FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with 5 FHA loans originated. Their average total fees are $25,167, which is $4,173 higher than the next largest lender, Bank of England.

The lowest fee Edwards FHA lenders (with over 10 loans originated) are .

The lowest rate Edwards FHA lenders (with over 10 loans originated) are .

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
EDWARDS, CO EAGLE 2023 $1,075,250 $1,376,550 $1,663,900 $2,067,850

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 $849,250 (-0.1%) $1,914,219 (-1.6%) 0.00 906
2018-02-01 $885,500 (4.6%) $1,966,033 (2.9%) 0.00 872
2018-03-01 $849,000 (-0.6%) $1,904,156 (-3.3%) 0.00 934
2018-04-01 $828,250 (-0.5%) $1,856,221 (-3.6%) 0.00 913
2018-05-01 $795,000 (-6.5%) $1,739,127 (-7.8%) 0.00 924
2018-06-01 $800,000 (-5.2%) $1,738,966 (-5.8%) 0.00 990
2018-07-01 $842,000 (-0.9%) $1,868,043 (-2.4%) 0.00 1,091
2018-08-01 $820,500 (-3.6%) $1,894,569 (-2.8%) 0.00 1,082
2018-09-01 $799,000 (-9.1%) $1,905,271 (-6.0%) 0.00 1,032
2018-10-01 $781,500 (-10.3%) $1,898,909 (-7.1%) 0.00 982
2018-11-01 $772,500 (-9.1%) $1,921,063 (-5.7%) 0.00 961
2018-12-01 $809,000 (-6.2%) $2,009,458 (2.5%) 0.00 968
2019-01-01 $832,000 (-2.0%) $1,997,965 (4.4%) 0.00 967
2019-02-01 $875,000 (-1.2%) $2,016,577 (2.6%) 0.00 966
2019-03-01 $815,000 (-4.0%) $1,910,808 (0.4%) 0.00 971
2019-04-01 $749,500 (-9.5%) $1,818,463 (-2.0%) 0.00 976
2019-05-01 $739,000 (-7.0%) $1,819,004 (4.6%) 0.00 932
2019-06-01 $799,500 (-0.1%) $1,821,479 (4.7%) 0.00 1,038
2019-07-01 $856,000 (1.7%) $1,990,456 (6.6%) 0.00 1,115
2019-08-01 $829,727 (1.1%) $1,994,548 (5.3%) 0.00 1,078
2019-09-01 $806,818 (1.0%) $2,010,857 (5.5%) 0.00 1,026
2019-10-01 $784,000 (0.3%) $2,021,730 (6.5%) 0.00 985
2019-11-01 $765,000 (-1.0%) $2,018,264 (5.1%) 0.00 958
2019-12-01 $903,250 (11.7%) $2,104,988 (4.8%) 0.00 957
2020-01-01 $915,000 (10.0%) $2,207,643 (10.5%) 0.00 888
2020-02-01 $940,000 (7.4%) $2,238,507 (11.0%) 0.00 869
2020-03-01 $935,000 (14.7%) $2,216,935 (16.0%) 0.00 909
2020-04-01 $831,500 (10.9%) $2,017,608 (11.0%) 0.00 882
2020-05-01 $799,000 (8.1%) $1,907,455 (4.9%) 0.00 877
2020-06-01 $895,000 (11.9%) $1,976,877 (8.5%) 0.00 890
2020-07-01 $867,450 (1.3%) $2,036,928 (2.3%) 0.00 903
2020-08-01 $899,000 (8.4%) $2,274,074 (14.0%) 0.00 875
2020-09-01 $940,000 (16.5%) $2,269,453 (12.9%) 0.00 795
2020-10-01 $899,000 (14.7%) $2,370,913 (17.3%) 0.00 724
2020-11-01 $797,000 (4.2%) $2,457,854 (21.8%) 0.00 689
2020-12-01 $827,000 (-8.4%) $2,558,423 (21.5%) 0.00 648
2021-01-01 $736,000 (-19.6%) $2,685,006 (21.6%) 0.00 607
2021-02-01 $679,000 (-27.8%) $2,795,539 (24.9%) 0.00 578
2021-03-01 $733,000 (-21.6%) $2,754,484 (24.3%) 0.00 561
2021-04-01 $638,500 (-23.2%) $2,713,611 (34.5%) 0.00 537
2021-05-01 $625,000 (-21.8%) $2,623,415 (37.5%) 0.00 475
2021-06-01 $756,250 (-15.5%) $2,660,852 (34.6%) 0.00 498
2021-07-01 $860,000 (-0.9%) $2,678,953 (31.5%) 0.00 515
2021-08-01 $990,000 (10.1%) $2,745,860 (20.8%) 0.00 493
2021-09-01 $896,000 (-4.7%) $2,619,291 (15.4%) 0.00 485
2021-10-01 $842,500 (-6.3%) $2,357,168 (-0.6%) 0.00 444
2021-11-01 $446,500 (-44.0%) $2,224,130 (-9.5%) 0.00 400
2021-12-01 $292,500 (-64.6%) $2,321,772 (-9.3%) 0.00 385
2022-01-01 $160,000 (-78.3%) $2,273,529 (-15.3%) 0.00 364
2022-02-01 $524,500 (-22.8%) $2,356,251 (-15.7%) 0.00 372
2022-03-01 $537,500 (-26.7%) $2,404,470 (-12.7%) 0.00 349
2022-04-01 $750,000 (17.5%) $2,253,141 (-17.0%) 0.00 354
2022-05-01 $935,500 (49.7%) $2,440,927 (-7.0%) 0.00 355
2022-06-01 $1,172,500 (55.0%) $2,406,153 (-9.6%) 0.00 416
2022-07-01 $1,245,000 (44.8%) $2,530,774 (-5.5%) 0.00 512
2022-08-01 $1,199,000 (21.1%) $2,488,940 (-9.4%) 0.00 505
2022-09-01 $1,131,000 (26.2%) $2,371,107 (-9.5%) 0.00 463
2022-10-01 $1,200,000 (42.4%) $2,363,213 (0.3%) 0.00 463
2022-11-01 $1,199,750 (168.7%) $2,508,861 (12.8%) 0.00 449
2022-12-01 $1,100,000 (276.1%) $2,616,885 (12.7%) 0.00 453
2023-01-01 $962,500 (501.6%) $2,642,903 (16.3%) 0.00 441
2023-02-01 $998,750 (90.4%) $2,695,979 (14.4%) 0.00 433
2023-03-01 $1,200,000 (123.3%) $2,786,741 (15.9%) 0.00 450
2023-04-01 $1,297,000 (72.9%) $2,842,099 (26.1%) 0.00 444
2023-05-01 $1,312,500 (40.3%) $2,870,931 (17.6%) 0.00 421
2023-06-01 $1,328,750 (13.3%) $2,780,943 (15.6%) 0.00 461
2023-07-01 $1,575,000 (26.5%) $2,969,884 (17.4%) 0.00 512
2023-08-01 $1,553,500 (29.6%) $2,902,748 (16.6%) 0.00 541
2023-09-01 $1,450,000 (28.2%) $2,899,279 (22.3%) 0.00 519
2023-10-01 $1,337,250 (11.4%) $2,796,342 (18.3%) 0.00 512
2023-11-01 $1,235,000 (2.9%) $2,801,007 (11.6%) 0.00 501
2023-12-01 $1,250,000 (13.6%) $2,826,035 (8.0%) 0.00 518
2024-01-01 $1,160,000 (20.5%) $2,871,458 (8.7%) 0.00 517
2024-02-01 $1,168,750 (17.0%) $2,954,569 (9.6%) 0.00 524
2024-03-01 $1,125,000 (-6.3%) $2,834,477 (1.7%) 0.00 537
2024-04-01 $913,750 (-29.6%) $2,674,762 (-5.9%) 0.00 541
2024-05-01 $825,000 (-37.1%) $2,491,055 (-13.2%) 0.00 517
2024-06-01 $975,000 (-26.6%) $2,526,131 (-9.2%) 0.00 600
2024-07-01 $1,162,500 (-26.2%) $2,620,190 (-11.8%) 0.00 669
2024-08-01 $1,083,500 (-30.3%) $2,530,293 (-12.8%) 0.00 678
2024-09-01 $991,000 (-31.7%) $2,325,378 (-19.8%) 0.00 691
2024-10-01 $885,950 (-33.8%) $2,067,634 (-26.1%) 0.00 668
2024-11-01 $786,489 (-36.3%) $2,086,606 (-25.5%) 0.00 640
Edwards's median listing price for 2024-11-01 was $786,489, a difference of $-448,511 (-36.3%) versus the prior year and $-99,461 versus the prior month.

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

Edwards's average listing price for 2024-11-01 was $2,086,606, a difference of $-714,401 (-25.5%) versus the prior year and $18,972 versus the prior month.

For the 2024-11-01 period, Edwards had 640 MLS listings, a difference of -28 listings (-4%) versus the prior month and 139 listings (28%) 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 1,883 sqft
2018-02-01 0 days 1,905 sqft
2018-03-01 0 days 1,900 sqft
2018-04-01 0 days 1,844 sqft
2018-05-01 0 days 1,844 sqft
2018-06-01 0 days 1,847 sqft
2018-07-01 0 days 1,899 sqft
2018-08-01 0 days 1,878 sqft
2018-09-01 0 days 1,843 sqft
2018-10-01 0 days 1,820 sqft
2018-11-01 0 days 1,821 sqft
2018-12-01 0 days 1,822 sqft
2019-01-01 0 days 1,829 sqft
2019-02-01 0 days 1,842 sqft
2019-03-01 0 days 1,825 sqft
2019-04-01 0 days 1,805 sqft
2019-05-01 0 days 1,839 sqft
2019-06-01 0 days 1,857 sqft
2019-07-01 0 days 1,900 sqft
2019-08-01 0 days 1,896 sqft
2019-09-01 0 days 1,891 sqft
2019-10-01 0 days 1,881 sqft
2019-11-01 0 days 1,869 sqft
2019-12-01 0 days 1,804 sqft
2020-01-01 0 days 1,810 sqft
2020-02-01 0 days 1,855 sqft
2020-03-01 0 days 1,823 sqft
2020-04-01 0 days 1,760 sqft
2020-05-01 0 days 1,791 sqft
2020-06-01 0 days 1,800 sqft
2020-07-01 0 days 1,800 sqft
2020-08-01 0 days 1,749 sqft
2020-09-01 0 days 1,708 sqft
2020-10-01 0 days 1,725 sqft
2020-11-01 0 days 1,691 sqft
2020-12-01 0 days 1,697 sqft
2021-01-01 0 days 1,705 sqft
2021-02-01 0 days 1,727 sqft
2021-03-01 0 days 1,743 sqft
2021-04-01 0 days 1,784 sqft
2021-05-01 0 days 1,803 sqft
2021-06-01 0 days 1,820 sqft
2021-07-01 0 days 1,875 sqft
2021-08-01 0 days 1,885 sqft
2021-09-01 0 days 1,875 sqft
2021-10-01 0 days 1,834 sqft
2021-11-01 0 days 1,704 sqft
2021-12-01 0 days 1,647 sqft
2022-01-01 0 days 1,600 sqft
2022-02-01 0 days 1,625 sqft
2022-03-01 0 days 1,637 sqft
2022-04-01 0 days 1,627 sqft
2022-05-01 0 days 1,705 sqft
2022-06-01 0 days 1,811 sqft
2022-07-01 0 days 1,896 sqft
2022-08-01 0 days 1,837 sqft
2022-09-01 0 days 1,810 sqft
2022-10-01 0 days 1,840 sqft
2022-11-01 0 days 1,800 sqft
2022-12-01 0 days 1,785 sqft
2023-01-01 0 days 1,789 sqft
2023-02-01 0 days 1,787 sqft
2023-03-01 0 days 1,797 sqft
2023-04-01 0 days 1,787 sqft
2023-05-01 0 days 1,797 sqft
2023-06-01 0 days 1,793 sqft
2023-07-01 0 days 1,846 sqft
2023-08-01 0 days 1,877 sqft
2023-09-01 0 days 1,800 sqft
2023-10-01 0 days 1,727 sqft
2023-11-01 0 days 1,627 sqft
2023-12-01 0 days 1,643 sqft
2024-01-01 0 days 1,611 sqft
2024-02-01 0 days 1,615 sqft
2024-03-01 0 days 1,644 sqft
2024-04-01 0 days 1,620 sqft
2024-05-01 0 days 1,602 sqft
2024-06-01 0 days 1,627 sqft
2024-07-01 0 days 1,626 sqft
2024-08-01 0 days 1,585 sqft
2024-09-01 0 days 1,570 sqft
2024-10-01 0 days 1,570 sqft
2024-11-01 0 days 1,570 sqft
Edwards's median listing age (time on market) for 2024-11-01 was 0 days.

Edwards's median square footage for active listings during the 2024-11-01 period was 1,570 sqft. One year prior, the average listing was 1,627 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).