Fort Collins FHA Loans

FORT COLLINS, 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.

Fort Collins's 125 lenders originated 1,344 FHA loans during 2021. The total origination value was $460,600,000, with an average FHA loan value of $342,708.

Fort Collins FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Fort Collins averaged 5.22% for the week of 2022-05-13, compared to the national average (all FHA variants) of 5.361% for the same period.

The average rate for the prior week (2022-05-06) was 5.35% and one month ago for the week of 2022-04-08, the average rate was 4.82%.

The average rate one year ago was 2.82%.

For refis of the same type during the week of 2022-05-13, the average rate was 4.97%.

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 and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Fort Collins level.

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
AMERICAN FINANCING CORPORATION 92 2.75% $9,953
QUICKEN LOANS, LLC 58 2.63% $8,891
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 47 3.23% $13,274
LAKEVIEW LOAN SERVICING, LLC 46 2.80% $6,607
UNITED WHOLESALE MORTGAGE, LLC 41 2.64% $9,828
CALIBER HOME LOANS, INC. 41 2.75% $9,383
CORNERSTONE HOME LENDING, INC. 40 3.17% $11,231
PRIMARY RESIDENTIAL MORTGAGE, INC. 38 3.18% $13,004
HOME POINT FINANCIAL CORPORATION 33 2.67% $11,350
ACADEMY MORTGAGE CORPORATION 32 2.89% $11,076
Mr. Cooper ( Nationstar Mortgage ) 29 2.95% $6,615
NEST HOME LENDING, LLC 28 2.97% $12,495
LOANDEPOT.COM, LLC 26 3.01% $11,449
CROSSCOUNTRY MORTGAGE, LLC 19 3.20% $10,958
FREEDOM MORTGAGE CORPORATION 19 2.66% $6,665
UNIVERSAL LENDING CORPORATION 18 3.09% $13,395
DHI MORTGAGE COMPANY, LTD. 18 2.76% $12,709
CHERRY CREEK MORTGAGE, LLC 17 3.06% $5,119
GUILD MORTGAGE COMPANY 16 3.09% $13,210
Gateway First Bank 15 3.38% $9,923
GROUP MORTGAGE, LLC 14 3.04% $11,149
BROKER SOLUTIONS, INC. 14 3.04% $10,591
PENNYMAC LOAN SERVICES, LLC 14 2.83% $7,163
NEWREZ LLC 13 2.98% $7,354
Loan Simple, Inc. 12 3.21% $13,434
First Western Trust Bank 11 2.66% $8,615
MEGASTAR FINANCIAL CORP. 10 2.91% $9,918
PLANET HOME LENDING, LLC 10 2.75% $11,364
Carrington Mortgage Services, LLC 10 3.40% $12,472
First National Bank of Omaha 9 3.06% $11,379
VAN DYK MORTGAGE CORPORATION 8 3.11% $11,876
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 8 3.19% $11,688
Financial Funding Solutions, Inc. 8 3.00% $12,232
Northpointe Bank 8 3.02% $10,669
Paramount Residential Mortgage Group, Inc. 8 3.20% $11,772
HOME MORTGAGE ALLIANCE, LLC 8 3.19% $11,692
Amerifirst Financial, Inc. 7 3.07% $11,365
MORTGAGE SOLUTIONS OF COLORADO, LLC 6 3.00% $10,573
NBH Bank 6 3.27% $10,256
Lakeview Community Capital, LLC 6 2.71% $6,825
VILLAGE CAPITAL & INVESTMENT LLC 6 2.79% $3,671
EAGLE HOME MORTGAGE, LLC 6 2.90% $12,122
Bank of Colorado 5 2.68% $8,786
Elevations Credit Union 5 2.80% $11,103
NOVA FINANCIAL & INVESTMENT CORPORATION 5 3.03% $10,194
The Federal Savings Bank 4 2.81% $8,223
PARTNERS UNITED FINANCIAL, LLC 4 3.09% $10,781
AmeriHome Mortgage Company, LLC 4 2.69% $7,934
Plains Commerce Bank 4 2.53% $10,750
Commerce Home Mortgage, Inc. 4 3.34% $10,527
MOVEMENT MORTGAGE, LLC 4 3.19% $13,397
Flagstar Bank, FSB 4 2.62% $8,706
BOKF 4 2.88% $11,190
HOMEAMERICAN MORTGAGE CORPORATION 4 2.44% $7,530
AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.53% $10,511
CMG MORTGAGE, INC. 3 2.75% $10,454
GUARANTEED RATE, INC. 3 3.00% $9,105
MUTUAL OF OMAHA MORTGAGE, INC. 3 2.83% $9,237
South Pacific Financial Corporation 3 2.54% $15,359
ALL WESTERN MORTGAGE, INC. 3 3.64% $9,872
HOMEBRIDGE FINANCIAL SERVICES, INC. 3 3.08% $11,019
KBHS HOME LOANS, LLC 3 2.91% $11,137
S1L, Inc. 3 3.21% $15,512
MORIA DEVELOPMENT, INC. 3 3.25% $9,904
First Guaranty Mortgage Corporation 3 2.63% $7,979
AMERISAVE MORTGAGE CORPORATION 3 2.63% $12,321
OCMBC, INC. 2 3.31% $10,351
CITYWIDE HOME LOANS, LLC 2 3.06% $13,253
Nations Lending Corporation 2 3.19% $14,445
MID AMERICA MORTGAGE, INC. 2 2.94% $7,626
GUARANTEED RATE AFFINITY, LLC 2 2.94% $10,553
AMERICAN FINANCIAL NETWORK, INC. 2 3.19% $6,863
Bank of England 2 3.13% $13,631
TOWNE MORTGAGE COMPANY 2 2.87% $9,086
TOP FLITE FINANCIAL, INC. 2 3.00% $13,312
Hometown Equity Mortgage, LLC 2 3.13% $11,066
Hometown Lenders, Inc. 2 2.88% $10,061
Ent Credit Union 2 2.75% $8,441
JLB CORPORATION 2 2.63% $11,423
LENDUS, LLC 2 2.56% $9,970
PLAZA HOME MORTGAGE, INC. 2 2.88% $10,415
MOUNTAIN WEST FINANCIAL, INC. 2 3.25% $15,429
ZILLOW HOME LOANS, LLC 1 2.38% $10,129
ABSOLUTE HOME MORTGAGE CORPORATION 1 2.50% $7,288
Adams Bank & Trust 1 2.88% $9,921
AMCAP MORTGAGE, LTD. 1 4.63% $14,285
American Mortgage & Equity Consultants, Inc. 1 2.63% $12,176
ARC HOME LLC 1 3.13% $12,474
BAY EQUITY LLC 1 3.25% $15,179
BBVA USA 1 2.38% $6,357
CELEBRITY HOME LOANS, LLC 1 3.25% $16,216
Chickasaw Community Bank 1 2.88% $10,009
CHURCHILL MORTGAGE CORPORATION 1 3.25% $10,223
CLEARPATH LENDING 1 2.88% $8,340
Colten Mortgage, LLC 1 2.88% $16,635
CONTOUR MORTGAGE CORPORATION 1 2.88% $7,814
EVERETT FINANCIAL, INC. 1 3.00% $7,815
FINANCE OF AMERICA MORTGAGE LLC 1 2.25% $10,706
FirstBank 1 3.00% $11,226
Florida Capital Bank 1 3.00% $10,404
Franklin Loan Corporation 1 2.63% $8,724
GENEVA FINANCIAL, LLC 1 2.38% $9,162
GSF Mortgage Corporation 1 2.38% $8,816
Independent Bank 1 3.38% $14,337
INTERCAP LENDING INC. 1 3.88% $13,172
InterContinental Capital Group, Inc 1 2.38% $11,382
LEADERONE FINANCIAL CORPORATION 1 2.63% $11,510
LOANLEADERS OF AMERICA, INC. 1 2.75% $14,449
LOANPAL, LLC 1 2.25% $16,405
OCEANSIDE MORTGAGE COMPANY 1 2.25% $4,220
PHH Mortgage Corporation 1 3.13% $3,845
PREMIER MORTGAGE SERVICES, INC. 1 2.25% $12,729
Prosperity Home Mortgage, LLC 1 3.00% $11,542
SECURITYNATIONAL MORTGAGE COMPANY 1 2.63% $9,613
Sierra Pacific Mortgage Company, Inc. 1 2.88% $8,809
SOUTHWEST FUNDING, LP 1 2.25% $16,449
SOVEREIGN LENDING GROUP INCORPORATED 1 3.13% $8,359
SUN WEST MORTGAGE COMPANY, INC. 1 2.38% $6,547
SWBC MORTGAGE CORPORATION 1 3.13% $9,591
T2 FINANCIAL LLC 1 3.25% $13,916
The Home Loan Expert LLC 1 2.25% $8,997
THRIVE MORTGAGE, LLC 1 2.25% $17,263
VERITAS FUNDING, LLC 1 2.63% $7,120
WESTERN EXPRESS LENDING 1 2.38% $11,288
1ST SIGNATURE LENDING, LLC 1 3.00% $11,759

The top Fort Collins FHA lender as defined by loan originations is AMERICAN FINANCING CORPORATION, with 92 FHA loans originated. Their average total fees are $9,953, which is $1,062 higher than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee Fort Collins FHA lenders (with over 10 loans originated) are CHERRY CREEK MORTGAGE, LLC ($5,119), LAKEVIEW LOAN SERVICING, LLC ($6,607), Mr. Cooper ( Nationstar Mortgage ) ($6,615), FREEDOM MORTGAGE CORPORATION ($6,665) and PENNYMAC LOAN SERVICES, LLC ($7,163).

The lowest rate Fort Collins FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC (2.63%), UNITED WHOLESALE MORTGAGE, LLC (2.64%), FREEDOM MORTGAGE CORPORATION (2.66%), First Western Trust Bank (2.66%) and HOME POINT FINANCIAL CORPORATION (2.67%).

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

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 $465,000 (8.3%) $587,409 (6.2%) 1.71 806
2018-02-01 $473,995 (7.7%) $610,084 (7.1%) 1.71 789
2018-03-01 $485,000 (9.5%) $629,966 (10.4%) 1.68 844
2018-04-01 $485,000 (10.2%) $629,010 (12.6%) 1.63 905
2018-05-01 $483,495 (9.3%) $631,926 (12.5%) 1.61 1,072
2018-06-01 $485,000 (8.2%) $627,991 (8.9%) 1.62 1,233
2018-07-01 $485,000 (8.0%) $614,508 (5.2%) 1.62 1,342
2018-08-01 $469,400 (5.0%) $597,366 (2.6%) 1.57 1,387
2018-09-01 $466,163 (4.1%) $597,272 (3.4%) 1.56 1,409
2018-10-01 $449,995 (0.1%) $581,936 (0.5%) 1.51 1,359
2018-11-01 $449,700 (-0.1%) $575,506 (-0.6%) 1.51 1,320
2018-12-01 $440,000 (-3.3%) $570,639 (-2.8%) 1.51 1,185
2019-01-01 $445,000 (-4.3%) $565,715 (-3.7%) 1.53 1,094
2019-02-01 $447,000 (-5.7%) $562,072 (-7.9%) 1.50 1,084
2019-03-01 $450,607 (-7.1%) $567,832 (-9.9%) 1.47 1,081
2019-04-01 $455,688 (-6.0%) $575,700 (-8.5%) 1.43 1,110
2019-05-01 $459,950 (-4.9%) $573,838 (-9.2%) 1.42 1,234
2019-06-01 $445,645 (-8.1%) $557,694 (-11.2%) 1.37 1,458
2019-07-01 $439,143 (-9.5%) $555,950 (-9.5%) 1.36 1,636
2019-08-01 $437,100 (-6.9%) $548,805 (-8.1%) 1.38 1,634
2019-09-01 $432,400 (-7.2%) $540,400 (-9.5%) 1.37 1,628
2019-10-01 $433,475 (-3.7%) $545,443 (-6.3%) 1.38 1,557
2019-11-01 $434,850 (-3.3%) $545,496 (-5.2%) 1.40 1,422
2019-12-01 $436,125 (-0.9%) $548,903 (-3.8%) 1.45 1,219
2020-01-01 $447,556 (0.6%) $563,329 (-0.4%) 1.49 1,061
2020-02-01 $450,000 (0.7%) $573,722 (2.1%) 1.45 1,016
2020-03-01 $464,489 (3.1%) $594,699 (4.7%) 1.45 1,033
2020-04-01 $452,500 (-0.7%) $577,311 (0.3%) 1.41 1,210
2020-05-01 $460,000 (0.0%) $577,699 (0.7%) 1.39 1,369
2020-06-01 $468,416 (5.1%) $591,315 (6.0%) 1.37 1,301
2020-07-01 $464,901 (5.9%) $582,492 (4.8%) 1.33 1,221
2020-08-01 $464,900 (6.4%) $590,452 (7.6%) 1.33 1,092
2020-09-01 $467,495 (8.1%) $601,935 (11.4%) 1.34 1,012
2020-10-01 $481,000 (11.0%) $618,621 (13.4%) 1.37 871
2020-11-01 $483,350 (11.2%) $621,783 (14.0%) 1.38 773
2020-12-01 $484,000 (11.0%) $624,767 (13.8%) 1.42 664
2021-01-01 $493,595 (10.3%) $647,265 (14.9%) 1.45 496
2021-02-01 $519,796 (15.5%) $713,729 (24.4%) 1.49 426
2021-03-01 $561,150 (20.8%) $730,238 (22.8%) 1.57 367
2021-04-01 $507,500 (12.2%) $690,843 (19.7%) 1.36 357
2021-05-01 $550,000 (19.6%) $721,031 (24.8%) 1.45 363
2021-06-01 $540,493 (15.4%) $712,931 (20.6%) 1.40 458
2021-07-01 $549,500 (18.2%) $701,893 (20.5%) 1.43 536
2021-08-01 $544,950 (17.2%) $704,577 (19.3%) 1.43 595
2021-09-01 $547,629 (17.1%) $697,278 (15.8%) 1.44 577
2021-10-01 $560,000 (16.4%) $714,517 (15.5%) 1.47 533
2021-11-01 $572,844 (18.5%) $722,539 (16.2%) 1.51 416
2021-12-01 $518,700 (7.2%) $630,478 (0.9%) 1.38 949
2022-01-01 $637,900 (29.2%) $794,846 (22.8%) 1.70 256
2022-02-01 $620,000 (19.3%) $850,265 (19.1%) 1.58 225
2022-03-01 $634,995 (13.2%) $860,376 (17.8%) 1.57 233
2022-04-01 $625,000 (23.2%) $842,951 (22.0%) 1.47 303
Fort Collins's median listing price for 2022-04-01 was $625,000, a difference of $117,500 (23.2%) versus the prior year and $-9,995 versus the prior month.

Fort Collins's median listing price comes in at 147% of the national average.

Fort Collins's average listing price for 2022-04-01 was $842,951, a difference of $152,108 (22.0%) versus the prior year and $-17,425 versus the prior month.

For the 2022-04-01 period, Fort Collins had 303 MLS listings, a difference of 70 listings (30%) versus the prior month and -54 listings (-15%) 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 86 days 2,938 sqft
2018-02-01 70 days 2,897 sqft
2018-03-01 49 days 2,993 sqft
2018-04-01 42 days 2,908 sqft
2018-05-01 36 days 2,836 sqft
2018-06-01 37 days 2,778 sqft
2018-07-01 43 days 2,753 sqft
2018-08-01 46 days 2,766 sqft
2018-09-01 50 days 2,754 sqft
2018-10-01 55 days 2,704 sqft
2018-11-01 58 days 2,699 sqft
2018-12-01 70 days 2,695 sqft
2019-01-01 66 days 2,641 sqft
2019-02-01 61 days 2,678 sqft
2019-03-01 57 days 2,698 sqft
2019-04-01 46 days 2,772 sqft
2019-05-01 39 days 2,804 sqft
2019-06-01 38 days 2,714 sqft
2019-07-01 41 days 2,677 sqft
2019-08-01 49 days 2,622 sqft
2019-09-01 51 days 2,596 sqft
2019-10-01 57 days 2,584 sqft
2019-11-01 59 days 2,587 sqft
2019-12-01 70 days 2,679 sqft
2020-01-01 79 days 2,739 sqft
2020-02-01 70 days 2,750 sqft
2020-03-01 47 days 2,761 sqft
2020-04-01 45 days 2,684 sqft
2020-05-01 50 days 2,722 sqft
2020-06-01 46 days 2,750 sqft
2020-07-01 47 days 2,734 sqft
2020-08-01 46 days 2,707 sqft
2020-09-01 45 days 2,636 sqft
2020-10-01 44 days 2,724 sqft
2020-11-01 56 days 2,662 sqft
2020-12-01 66 days 2,708 sqft
2021-01-01 73 days 2,650 sqft
2021-02-01 38 days 2,650 sqft
2021-03-01 41 days 2,597 sqft
2021-04-01 38 days 2,409 sqft
2021-05-01 30 days 2,615 sqft
2021-06-01 29 days 2,503 sqft
2021-07-01 31 days 2,493 sqft
2021-08-01 31 days 2,484 sqft
2021-09-01 36 days 2,473 sqft
2021-10-01 40 days 2,457 sqft
2021-11-01 46 days 2,522 sqft
2021-12-01 59 days 2,393 sqft
2022-01-01 53 days 2,714 sqft
2022-02-01 33 days 2,564 sqft
2022-03-01 30 days 2,643 sqft
2022-04-01 21 days 2,545 sqft
Fort Collins's median listing age (time on market) for 2022-04-01 was 21 days. This is -44% shorter than the same period one year ago.

Fort Collins's median square footage for active listings during the 2022-04-01 period was 2,545 sqft. One year prior, the average listing was 2,409 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).