Fort Collins FHA Loan Rates, Closing Costs & Stats

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 6.14% for the week of 2023-01-27, compared to the national average (all FHA variants) of 6.186% for the same period.

Fort Collins's average FHA mortgage closing costs are $9,674.

The average rate for the prior week (2023-01-20) was 5.92% and one month ago for the week of 2022-12-23, the average rate was 6.41%.

The average rate one year ago was 3.9%.

For refis of the same type during the week of 2023-01-27, the average rate was 5.9%.

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 2021 Avg. 30yFix Rate 2021 Avg. Closing Costs
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 MORTGAGE 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 $469,950 (6.8%) $578,888 (4.6%) 1.74 827
2018-02-01 $473,815 (5.5%) $593,376 (4.9%) 1.72 811
2018-03-01 $480,599 (6.8%) $616,341 (9.5%) 1.69 860
2018-04-01 $490,950 (9.1%) $620,647 (12.2%) 1.66 905
2018-05-01 $491,300 (8.1%) $616,956 (10.5%) 1.64 1,057
2018-06-01 $481,675 (4.9%) $610,129 (6.7%) 1.61 1,157
2018-07-01 $481,995 (5.6%) $603,782 (4.8%) 1.61 1,261
2018-08-01 $466,950 (3.8%) $588,113 (2.9%) 1.56 1,326
2018-09-01 $464,950 (3.3%) $586,529 (3.1%) 1.56 1,348
2018-10-01 $452,145 (-0.7%) $577,143 (0.7%) 1.53 1,295
2018-11-01 $449,000 (-2.1%) $569,146 (0.2%) 1.52 1,255
2018-12-01 $439,990 (-5.4%) $560,305 (-2.9%) 1.52 1,128
2019-01-01 $439,498 (-6.5%) $553,836 (-4.3%) 1.52 1,044
2019-02-01 $441,050 (-6.9%) $553,336 (-6.8%) 1.49 1,041
2019-03-01 $445,909 (-7.2%) $562,286 (-8.8%) 1.46 1,023
2019-04-01 $451,200 (-8.1%) $571,431 (-7.9%) 1.43 1,037
2019-05-01 $452,450 (-7.9%) $573,634 (-7.0%) 1.41 1,164
2019-06-01 $443,500 (-7.9%) $558,043 (-8.5%) 1.39 1,383
2019-07-01 $437,583 (-9.2%) $558,217 (-7.6%) 1.37 1,538
2019-08-01 $433,713 (-7.1%) $554,145 (-5.8%) 1.37 1,512
2019-09-01 $431,782 (-7.1%) $551,921 (-5.9%) 1.38 1,473
2019-10-01 $430,495 (-4.8%) $551,339 (-4.5%) 1.39 1,427
2019-11-01 $430,582 (-4.1%) $552,145 (-3.0%) 1.41 1,306
2019-12-01 $433,127 (-1.6%) $552,936 (-1.3%) 1.44 1,130
2020-01-01 $439,239 (-0.1%) $565,516 (2.1%) 1.47 1,011
2020-02-01 $449,900 (2.0%) $570,761 (3.2%) 1.47 968
2020-03-01 $451,767 (1.3%) $575,472 (2.3%) 1.42 977
2020-04-01 $452,000 (0.2%) $584,858 (2.4%) 1.42 1,126
2020-05-01 $460,000 (1.7%) $588,436 (2.6%) 1.40 1,290
2020-06-01 $472,253 (6.5%) $599,864 (7.5%) 1.39 1,215
2020-07-01 $469,900 (7.4%) $596,406 (6.8%) 1.36 1,149
2020-08-01 $469,900 (8.3%) $602,539 (8.7%) 1.35 1,033
2020-09-01 $464,785 (7.6%) $608,505 (10.3%) 1.33 927
2020-10-01 $474,950 (10.3%) $615,838 (11.7%) 1.36 801
2020-11-01 $473,750 (10.0%) $619,465 (12.2%) 1.38 733
2020-12-01 $475,027 (9.7%) $624,595 (13.0%) 1.41 651
2021-01-01 $476,663 (8.5%) $646,579 (14.3%) 1.42 492
2021-02-01 $494,450 (9.9%) $695,566 (21.9%) 1.44 435
2021-03-01 $518,028 (14.7%) $711,357 (23.6%) 1.47 379
2021-04-01 $499,950 (10.6%) $693,309 (18.5%) 1.35 380
2021-05-01 $545,000 (18.5%) $705,229 (19.9%) 1.44 380
2021-06-01 $532,500 (12.8%) $696,190 (16.1%) 1.40 476
2021-07-01 $547,163 (16.4%) $695,494 (16.6%) 1.44 555
2021-08-01 $544,425 (15.9%) $689,478 (14.4%) 1.45 601
2021-09-01 $544,450 (17.1%) $685,369 (12.6%) 1.45 592
2021-10-01 $553,345 (16.5%) $706,719 (14.8%) 1.48 546
2021-11-01 $562,756 (18.8%) $711,944 (14.9%) 1.50 433
2021-12-01 $511,133 (7.6%) $626,092 (0.2%) 1.39 980
2022-01-01 $600,258 (25.9%) $789,756 (22.1%) 1.62 263
2022-02-01 $597,925 (20.9%) $830,341 (19.4%) 1.56 228
2022-03-01 $601,022 (16.0%) $831,381 (16.9%) 1.50 248
2022-04-01 $600,000 (20.0%) $809,376 (16.7%) 1.43 328
2022-05-01 $623,513 (14.4%) $800,441 (13.5%) 1.43 506
2022-06-01 $627,450 (17.8%) $794,063 (14.1%) 1.40 672
2022-07-01 $635,000 (16.1%) $782,247 (12.5%) 1.44 830
2022-08-01 $635,000 (16.6%) $808,585 (17.3%) 1.47 841
2022-09-01 $620,900 (14.0%) $786,415 (14.7%) 1.45 882
2022-10-01 $610,000 (10.2%) $785,902 (11.2%) 1.44 896
2022-11-01 $585,000 (4.0%) $754,586 (6.0%) 1.41 903
2022-12-01 $584,990 (14.5%) $754,292 (20.5%) 1.46 743
Fort Collins's median listing price for 2022-12-01 was $584,990, a difference of $73,857 (14.5%) versus the prior year and $-10 versus the prior month.

Fort Collins's median listing price comes in at 146% of the national average.

Fort Collins's average listing price for 2022-12-01 was $754,292, a difference of $128,200 (20.5%) versus the prior year and $-294 versus the prior month.

For the 2022-12-01 period, Fort Collins had 743 MLS listings, a difference of -160 listings (-18%) versus the prior month and -237 listings (-24%) 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 89 days 3,007 sqft
2018-02-01 68 days 2,977 sqft
2018-03-01 47 days 3,033 sqft
2018-04-01 43 days 3,004 sqft
2018-05-01 38 days 2,896 sqft
2018-06-01 37 days 2,840 sqft
2018-07-01 44 days 2,823 sqft
2018-08-01 47 days 2,793 sqft
2018-09-01 52 days 2,784 sqft
2018-10-01 57 days 2,743 sqft
2018-11-01 59 days 2,735 sqft
2018-12-01 72 days 2,698 sqft
2019-01-01 71 days 2,606 sqft
2019-02-01 59 days 2,663 sqft
2019-03-01 50 days 2,686 sqft
2019-04-01 45 days 2,755 sqft
2019-05-01 38 days 2,792 sqft
2019-06-01 38 days 2,696 sqft
2019-07-01 41 days 2,684 sqft
2019-08-01 48 days 2,606 sqft
2019-09-01 54 days 2,595 sqft
2019-10-01 58 days 2,588 sqft
2019-11-01 63 days 2,590 sqft
2019-12-01 82 days 2,660 sqft
2020-01-01 83 days 2,659 sqft
2020-02-01 74 days 2,690 sqft
2020-03-01 54 days 2,690 sqft
2020-04-01 52 days 2,685 sqft
2020-05-01 53 days 2,738 sqft
2020-06-01 51 days 2,745 sqft
2020-07-01 52 days 2,730 sqft
2020-08-01 57 days 2,713 sqft
2020-09-01 60 days 2,635 sqft
2020-10-01 61 days 2,568 sqft
2020-11-01 69 days 2,511 sqft
2020-12-01 82 days 2,516 sqft
2021-01-01 87 days 2,489 sqft
2021-02-01 56 days 2,484 sqft
2021-03-01 61 days 2,529 sqft
2021-04-01 54 days 2,415 sqft
2021-05-01 40 days 2,528 sqft
2021-06-01 31 days 2,472 sqft
2021-07-01 38 days 2,488 sqft
2021-08-01 37 days 2,472 sqft
2021-09-01 37 days 2,481 sqft
2021-10-01 39 days 2,464 sqft
2021-11-01 45 days 2,496 sqft
2021-12-01 61 days 2,396 sqft
2022-01-01 53 days 2,575 sqft
2022-02-01 32 days 2,456 sqft
2022-03-01 27 days 2,507 sqft
2022-04-01 19 days 2,526 sqft
2022-05-01 18 days 2,514 sqft
2022-06-01 23 days 2,607 sqft
2022-07-01 29 days 2,643 sqft
2022-08-01 36 days 2,646 sqft
2022-09-01 40 days 2,568 sqft
2022-10-01 44 days 2,601 sqft
2022-11-01 46 days 2,485 sqft
2022-12-01 64 days 2,480 sqft
Fort Collins's median listing age (time on market) for 2022-12-01 was 64 days. This is 5% longer than the same period one year ago.

Fort Collins's median square footage for active listings during the 2022-12-01 period was 2,480 sqft. One year prior, the average listing was 2,396 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).