Fort Collins FHA Loan Rates, Closing Costs & Stats

FORT COLLINS, 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.

    Fort Collins's 86 lenders originated 634 FHA loans during 2023. The total origination value was $301,490,000, with an average FHA loan value of $475,536.

    Fort Collins FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fort Collins averaged 6.28% for the week of 2024-12-13, compared to the national average (all FHA variants) of 6.277% for the same period.

    Fort Collins's average FHA mortgage closing costs are $10,662.

    The average rate for the prior week (2024-12-06) was 5.95% and one month ago for the week of 2024-11-08, the average rate was 6.21%.

    The average rate one year ago was 6.42%.

    For refis of the same type during the week of 2024-12-13, the average rate was 6.66%.

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

    Fort Collins 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 Fort Collins level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 85 5.98% $16,510
    QUICKEN LOANS, LLC 28 6.14% $15,403
    DHI MORTGAGE COMPANY, LTD. 25 5.23% $17,684
    EAGLE HOME MORTGAGE, LLC 24 4.71% $12,372
    Bank of Colorado 22 5.72% $21,486
    AMERICAN FINANCING CORPORATION 19 6.43% $17,058
    LOANDEPOT.COM, LLC 18 6.10% $18,562
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 6.90% $14,937
    CORNERSTONE HOME LENDING, INC. 16 6.23% $18,085
    JET HOMELOANS, LLC 14 5.81% $12,728
    CMG MORTGAGE, INC. 12 6.46% $18,780
    CROSSCOUNTRY MORTGAGE, LLC 11 6.48% $17,566
    HOMEAMERICAN MORTGAGE CORPORATION 10 5.41% $8,848
    GUILD MORTGAGE COMPANY 10 6.74% $14,831
    GUARANTEED RATE, INC. 8 6.27% $16,970
    Elevations Credit Union 7 6.29% $12,706
    ACADEMY MORTGAGE CORPORATION 7 6.43% $17,814
    Gateway First Bank 6 6.79% $12,258
    FREEDOM MORTGAGE CORPORATION 6 6.42% $18,895
    UNIVERSAL LENDING CORPORATION 6 6.75% $12,955
    GROUP MORTGAGE, LLC 6 6.29% $18,193
    Mr. Cooper ( Nationstar Mortgage ) 6 6.10% $21,414
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 7.04% $17,602
    NEST HOME LENDING, LLC 5 5.60% $23,375
    TOWNE MORTGAGE COMPANY 5 6.05% $12,529
    BROKER SOLUTIONS, INC. 5 6.43% $16,853
    PENNYMAC LOAN SERVICES, LLC 5 6.05% $13,669
    V.I.P. MORTGAGE, INC. 5 6.40% $15,395
    EVERETT FINANCIAL, INC. 5 6.75% $17,470
    NEWREZ LLC 5 5.91% $16,909
    MORTGAGE SOLUTIONS OF COLORADO, LLC 4 5.97% $19,250
    Ixonia Bank 4 7.00% $18,697
    VAN DYK MORTGAGE CORPORATION 4 7.00% $11,931
    PLAZA HOME MORTGAGE, INC. 4 6.84% $16,291
    Century Mortgage Company DBA Century Lending Company 4 7.00% $10,913
    Ent Credit Union 4 6.25% $12,041
    Paramount Residential Mortgage Group, Inc. 4 6.66% $14,304
    NOVA FINANCIAL & INVESTMENT CORPORATION 4 6.63% $10,283
    MEGASTAR FINANCIAL CORP. 4 7.13% $13,731
    MUTUAL OF OMAHA MORTGAGE, INC. 3 6.25% $19,457
    AMERICAN FINANCIAL NETWORK, INC. 3 7.08% $21,121
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.67% $13,612
    First National Bank of Omaha 3 6.63% $11,256
    Loan Simple, Inc. 3 6.58% $13,645
    SUN WEST MORTGAGE COMPANY, INC. 3 5.92% $17,453
    First Western Trust Bank 2 6.63% $11,281
    T2 FINANCIAL LLC 2 5.56% $22,681
    The Federal Savings Bank 2 6.50% $19,515
    GUARANTEED RATE AFFINITY, LLC 2 6.50% $14,776
    Carrington Mortgage Services, LLC 2 6.75% $14,759
    NBH Bank 2 5.94% $10,156
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 6.69% $14,898
    BROOKHOLLOW MORTGAGE SERVICES, LTD 2 3.75% $10,921
    AMERISAVE MORTGAGE CORPORATION 2 6.25% $21,468
    S1L, Inc. 2 7.38% $16,082
    American Mortgage & Equity Consultants, Inc. 2 6.50% $13,182
    NBKC BANK 2 5.69% $14,325
    NATIONS DIRECT MORTGAGE, LLC 2 6.19% $15,365
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 6.75% $13,384
    CHERRY CREEK MORTGAGE, LLC 1 6.75% $6,550
    PLANET HOME LENDING, LLC 1 6.99% $11,505
    CARDINAL FINANCIAL 1 6.13% $15,973
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $20,989
    Summit Mortgage Corporation 1 6.50% $11,227
    AMCAP MORTGAGE, LTD. 1 7.13% $14,788
    The Loan Store, Inc. 1 6.49% $13,267
    BETTER MORTGAGE CORPORATION 1 4.75% $29,379
    UMB Bank 1 7.50% $13,186
    UNION HOME MORTGAGE CORP. 1 6.00% $20,071
    Bank of England 1 6.88% $14,912
    U.S. Bank 1 7.00% $14,364
    JMAC LENDING, INC. 1 6.25% $15,146
    Keystone Funding, Inc. 1 6.49% $10,313
    JMJ FINANCIAL GROUP 1 6.25% $13,170
    INTERCAP LENDING INC. 1 6.50% $20,274
    VILLAGE CAPITAL MORTGAGE 1 5.63% $8,367
    HOMESTEAD FUNDING CORP. 1 6.75% $9,299
    MICHIGAN MUTUAL, INC. 1 5.00% $23,457
    MID AMERICA MORTGAGE, INC. 1 6.75% $4,163
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.50% $4,351
    GENEVA FINANCIAL, LLC 1 6.25% $32,833
    Nations Lending Corporation 1 6.75% $9,454
    Flagstar Bank, FSB 1 5.75% $15,640
    NMSI, INC. 1 5.75% $14,102
    FIRST STATE MORTGAGE SERVICES, LLC 1 5.75% $36,162
    OCMBC, INC. 1 5.75% $20,588

    The top Fort Collins FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 85 FHA loans originated. Their average total fees are $16,510, which is $1,107 higher than the next largest lender, QUICKEN LOANS, LLC.

    The lowest fee Fort Collins FHA lenders (with over 10 loans originated) are HOMEAMERICAN MORTGAGE CORPORATION ($8,848), EAGLE HOME MORTGAGE, LLC ($12,372), JET HOMELOANS, LLC ($12,728), GUILD MORTGAGE COMPANY ($14,831) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($14,937).

    The lowest rate Fort Collins FHA lenders (with over 10 loans originated) are EAGLE HOME MORTGAGE, LLC (4.71%), DHI MORTGAGE COMPANY, LTD. (5.23%), HOMEAMERICAN MORTGAGE CORPORATION (5.41%), Bank of Colorado (5.72%) and JET HOMELOANS, LLC (5.81%).

    Fort Collins FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FORT COLLINS, CO LARIMER 2022 $522,100 $668,400 $807,900 $1,004,050
    FORT COLLINS, CO LARIMER 2023 $614,100 $786,150 $950,300 $1,181,000

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fort Collins (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 $469,950 (6.7%) $578,375 (4.6%) 1.74 827
    2018-02-01 $473,815 (5.6%) $593,184 (4.9%) 1.72 811
    2018-03-01 $479,000 (6.5%) $613,146 (8.9%) 1.68 860
    2018-04-01 $491,200 (9.2%) $621,106 (12.2%) 1.67 905
    2018-05-01 $490,966 (8.0%) $616,989 (10.4%) 1.64 1,057
    2018-06-01 $481,675 (4.8%) $610,600 (6.7%) 1.61 1,157
    2018-07-01 $482,473 (6.2%) $604,629 (4.9%) 1.61 1,262
    2018-08-01 $466,475 (3.7%) $588,416 (3.0%) 1.56 1,327
    2018-09-01 $465,000 (3.3%) $588,612 (3.5%) 1.56 1,349
    2018-10-01 $454,496 (-0.1%) $578,446 (1.0%) 1.54 1,296
    2018-11-01 $449,063 (-2.1%) $570,267 (0.5%) 1.52 1,256
    2018-12-01 $439,945 (-5.4%) $563,078 (-2.4%) 1.52 1,129
    2019-01-01 $439,950 (-6.4%) $555,245 (-4.0%) 1.52 1,045
    2019-02-01 $441,400 (-6.8%) $553,575 (-6.7%) 1.49 1,042
    2019-03-01 $447,143 (-6.7%) $563,317 (-8.1%) 1.46 1,023
    2019-04-01 $451,200 (-8.1%) $571,456 (-8.0%) 1.43 1,036
    2019-05-01 $452,450 (-7.8%) $573,778 (-7.0%) 1.41 1,164
    2019-06-01 $444,000 (-7.8%) $558,200 (-8.6%) 1.39 1,382
    2019-07-01 $437,583 (-9.3%) $558,361 (-7.7%) 1.37 1,536
    2019-08-01 $433,713 (-7.0%) $554,339 (-5.8%) 1.37 1,510
    2019-09-01 $431,782 (-7.1%) $552,186 (-6.2%) 1.38 1,470
    2019-10-01 $430,495 (-5.3%) $551,609 (-4.6%) 1.39 1,424
    2019-11-01 $430,931 (-4.0%) $552,402 (-3.1%) 1.41 1,303
    2019-12-01 $433,450 (-1.5%) $553,231 (-1.8%) 1.45 1,127
    2020-01-01 $439,660 (-0.1%) $565,819 (1.9%) 1.47 1,009
    2020-02-01 $449,900 (1.9%) $571,307 (3.2%) 1.47 965
    2020-03-01 $452,225 (1.1%) $575,997 (2.3%) 1.42 974
    2020-04-01 $452,000 (0.2%) $585,183 (2.4%) 1.42 1,124
    2020-05-01 $460,000 (1.7%) $588,741 (2.6%) 1.40 1,288
    2020-06-01 $472,114 (6.3%) $599,966 (7.5%) 1.39 1,215
    2020-07-01 $469,375 (7.3%) $596,581 (6.8%) 1.36 1,149
    2020-08-01 $469,900 (8.3%) $602,948 (8.8%) 1.35 1,033
    2020-09-01 $464,785 (7.6%) $608,751 (10.2%) 1.33 928
    2020-10-01 $474,475 (10.2%) $616,407 (11.8%) 1.36 798
    2020-11-01 $473,000 (9.8%) $619,897 (12.2%) 1.38 730
    2020-12-01 $474,802 (9.5%) $624,819 (12.9%) 1.41 648
    2021-01-01 $478,326 (8.8%) $644,327 (13.9%) 1.43 489
    2021-02-01 $494,450 (9.9%) $696,444 (21.9%) 1.44 432
    2021-03-01 $516,986 (14.3%) $712,735 (23.7%) 1.47 376
    2021-04-01 $499,950 (10.6%) $694,158 (18.6%) 1.35 377
    2021-05-01 $545,130 (18.5%) $707,717 (20.2%) 1.45 376
    2021-06-01 $533,426 (13.0%) $697,139 (16.2%) 1.40 474
    2021-07-01 $549,000 (17.0%) $696,591 (16.8%) 1.45 554
    2021-08-01 $544,900 (16.0%) $690,411 (14.5%) 1.45 600
    2021-09-01 $544,900 (17.2%) $686,926 (12.8%) 1.45 589
    2021-10-01 $554,500 (16.9%) $707,679 (14.8%) 1.48 543
    2021-11-01 $563,258 (19.1%) $713,460 (15.1%) 1.51 429
    2021-12-01 $510,765 (7.6%) $625,773 (0.2%) 1.38 987
    2022-01-01 $604,245 (26.3%) $790,142 (22.6%) 1.63 262
    2022-02-01 $598,950 (21.1%) $832,905 (19.6%) 1.56 226
    2022-03-01 $611,045 (18.2%) $835,704 (17.3%) 1.53 245
    2022-04-01 $600,000 (20.0%) $811,818 (17.0%) 1.43 324
    2022-05-01 $624,583 (14.6%) $801,974 (13.3%) 1.43 501
    2022-06-01 $627,450 (17.6%) $794,767 (14.0%) 1.40 667
    2022-07-01 $636,500 (15.9%) $782,609 (12.4%) 1.43 826
    2022-08-01 $636,250 (16.8%) $809,580 (17.3%) 1.47 837
    2022-09-01 $621,200 (14.0%) $786,127 (14.4%) 1.45 881
    2022-10-01 $611,875 (10.4%) $785,467 (11.0%) 1.44 894
    2022-11-01 $585,000 (3.9%) $755,054 (5.8%) 1.41 900
    2022-12-01 $584,990 (14.5%) $756,466 (20.9%) 1.44 739
    2023-01-01 $587,000 (-2.9%) $765,428 (-3.1%) 1.45 627
    2023-02-01 $583,906 (-2.5%) $750,127 (-9.9%) 1.41 609
    2023-03-01 $603,720 (-1.2%) $774,913 (-7.3%) 1.42 610
    2023-04-01 $615,495 (2.6%) $803,381 (-1.0%) 1.43 645
    2023-05-01 $636,883 (2.0%) $812,710 (1.3%) 1.44 803
    2023-06-01 $643,300 (2.5%) $823,565 (3.6%) 1.45 940
    2023-07-01 $640,000 (0.6%) $820,271 (4.8%) 1.45 1,048
    2023-08-01 $627,473 (-1.4%) $800,228 (-1.2%) 1.44 1,088
    2023-09-01 $625,000 (0.6%) $809,636 (3.0%) 1.46 1,064
    2023-10-01 $619,995 (1.3%) $818,851 (4.3%) 1.46 1,091
    2023-11-01 $607,500 (3.9%) $819,870 (8.6%) 1.45 1,016
    2023-12-01 $600,000 (2.6%) $821,522 (8.6%) 1.46 846
    2024-01-01 $616,139 (5.0%) $813,034 (6.2%) 1.50 742
    2024-02-01 $618,985 (6.0%) $820,107 (9.3%) 1.49 730
    2024-03-01 $655,000 (8.5%) $844,054 (8.9%) 1.54 736
    2024-04-01 $649,375 (5.5%) $838,008 (4.3%) 1.51 835
    2024-05-01 $657,000 (3.2%) $849,346 (4.5%) 1.48 993
    2024-06-01 $635,500 (-1.2%) $826,736 (0.4%) 1.43 1,193
    2024-07-01 $618,000 (-3.4%) $788,355 (-3.9%) 1.41 1,334
    2024-08-01 $604,950 (-3.6%) $791,358 (-1.1%) 1.41 1,467
    2024-09-01 $599,950 (-4.0%) $794,466 (-1.9%) 1.41 1,529
    2024-10-01 $599,970 (-3.2%) $794,225 (-3.0%) 1.41 1,485
    2024-11-01 $599,000 (-1.4%) $793,362 (-3.2%) 1.44 1,363
    Fort Collins's median listing price for 2024-11-01 was $599,000, a difference of $-8,500 (-1.4%) versus the prior year and $-970 versus the prior month.

    Fort Collins's median listing price comes in at 144% of the national average.

    Fort Collins's average listing price for 2024-11-01 was $793,362, a difference of $-26,508 (-3.2%) versus the prior year and $-863 versus the prior month.

    For the 2024-11-01 period, Fort Collins had 1,363 MLS listings, a difference of -122 listings (-8%) versus the prior month and 347 listings (34%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fort Collins (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 85 days 3,007 sqft
    2018-02-01 59 days 2,976 sqft
    2018-03-01 45 days 3,031 sqft
    2018-04-01 41 days 3,013 sqft
    2018-05-01 36 days 2,895 sqft
    2018-06-01 37 days 2,839 sqft
    2018-07-01 43 days 2,826 sqft
    2018-08-01 45 days 2,795 sqft
    2018-09-01 50 days 2,786 sqft
    2018-10-01 54 days 2,745 sqft
    2018-11-01 57 days 2,735 sqft
    2018-12-01 69 days 2,696 sqft
    2019-01-01 66 days 2,608 sqft
    2019-02-01 55 days 2,664 sqft
    2019-03-01 48 days 2,687 sqft
    2019-04-01 43 days 2,755 sqft
    2019-05-01 37 days 2,796 sqft
    2019-06-01 37 days 2,696 sqft
    2019-07-01 40 days 2,686 sqft
    2019-08-01 47 days 2,609 sqft
    2019-09-01 53 days 2,598 sqft
    2019-10-01 57 days 2,591 sqft
    2019-11-01 60 days 2,595 sqft
    2019-12-01 70 days 2,664 sqft
    2020-01-01 75 days 2,663 sqft
    2020-02-01 60 days 2,695 sqft
    2020-03-01 44 days 2,701 sqft
    2020-04-01 44 days 2,694 sqft
    2020-05-01 46 days 2,743 sqft
    2020-06-01 40 days 2,745 sqft
    2020-07-01 40 days 2,730 sqft
    2020-08-01 40 days 2,722 sqft
    2020-09-01 44 days 2,644 sqft
    2020-10-01 43 days 2,589 sqft
    2020-11-01 52 days 2,520 sqft
    2020-12-01 59 days 2,521 sqft
    2021-01-01 73 days 2,490 sqft
    2021-02-01 40 days 2,490 sqft
    2021-03-01 49 days 2,537 sqft
    2021-04-01 45 days 2,418 sqft
    2021-05-01 33 days 2,557 sqft
    2021-06-01 30 days 2,481 sqft
    2021-07-01 37 days 2,501 sqft
    2021-08-01 32 days 2,476 sqft
    2021-09-01 36 days 2,479 sqft
    2021-10-01 38 days 2,464 sqft
    2021-11-01 44 days 2,498 sqft
    2021-12-01 59 days 2,396 sqft
    2022-01-01 50 days 2,600 sqft
    2022-02-01 29 days 2,470 sqft
    2022-03-01 25 days 2,530 sqft
    2022-04-01 18 days 2,555 sqft
    2022-05-01 17 days 2,524 sqft
    2022-06-01 23 days 2,609 sqft
    2022-07-01 27 days 2,649 sqft
    2022-08-01 36 days 2,649 sqft
    2022-09-01 39 days 2,571 sqft
    2022-10-01 44 days 2,605 sqft
    2022-11-01 45 days 2,485 sqft
    2022-12-01 64 days 2,485 sqft
    2023-01-01 71 days 2,470 sqft
    2023-02-01 59 days 2,437 sqft
    2023-03-01 47 days 2,500 sqft
    2023-04-01 37 days 2,582 sqft
    2023-05-01 32 days 2,590 sqft
    2023-06-01 34 days 2,612 sqft
    2023-07-01 37 days 2,577 sqft
    2023-08-01 41 days 2,542 sqft
    2023-09-01 45 days 2,610 sqft
    2023-10-01 47 days 2,547 sqft
    2023-11-01 51 days 2,488 sqft
    2023-12-01 66 days 2,459 sqft
    2024-01-01 71 days 2,456 sqft
    2024-02-01 53 days 2,415 sqft
    2024-03-01 38 days 2,587 sqft
    2024-04-01 37 days 2,562 sqft
    2024-05-01 31 days 2,585 sqft
    2024-06-01 31 days 2,500 sqft
    2024-07-01 42 days 2,478 sqft
    2024-08-01 48 days 2,471 sqft
    2024-09-01 51 days 2,441 sqft
    2024-10-01 58 days 2,419 sqft
    2024-11-01 65 days 2,396 sqft
    Fort Collins's median listing age (time on market) for 2024-11-01 was 65 days. This is 27% longer than the same period one year ago.

    Fort Collins's median square footage for active listings during the 2024-11-01 period was 2,396 sqft. One year prior, the average listing was 2,488 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).