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 94 lenders originated 671 FHA loans during 2022. The total origination value was $242,345,000, with an average FHA loan value of $361,170.

    Fort Collins FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fort Collins averaged -0.34% for the week of 2023-11-24, compared to the national average (all FHA variants) of 0% for the same period.

    Fort Collins's average FHA mortgage closing costs are $10,049.

    The average rate for the prior week (2023-11-17) was 6.76% and one month ago for the week of 2023-10-20, the average rate was 6.87%.

    The average rate one year ago was 6.09%.

    For refis of the same type during the week of 2023-11-24, the average rate was -1.3%.

    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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 48 4.52% $13,416
    AMERICAN FINANCING CORPORATION 34 4.23% $12,333
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 22 4.98% $15,094
    LOANDEPOT.COM, LLC 20 4.84% $13,452
    NEST HOME LENDING, LLC 20 4.68% $16,706
    CORNERSTONE HOME LENDING, INC. 18 4.84% $13,454
    QUICKEN LOANS, LLC 17 4.31% $12,350
    BROKER SOLUTIONS, INC. 9 4.97% $11,775
    CHERRY CREEK MORTGAGE, LLC 9 5.03% $6,627
    PENNYMAC LOAN SERVICES, LLC 8 3.11% $11,568
    HOME POINT FINANCIAL CORPORATION 8 4.16% $12,398
    DHI MORTGAGE COMPANY, LTD. 8 3.92% $13,721
    CALIBER HOME LOANS, INC. 8 4.01% $13,910
    UNIVERSAL LENDING CORPORATION 7 4.39% $14,072
    Gateway First Bank 7 4.88% $12,697
    MORTGAGE SOLUTIONS OF COLORADO, LLC 7 5.07% $13,880
    LAKEVIEW LOAN SERVICING, LLC 7 3.64% $8,142
    CROSSCOUNTRY MORTGAGE, LLC 6 5.75% $14,212
    PRIMARY RESIDENTIAL MORTGAGE, INC. 6 4.94% $14,175
    Mr. Cooper ( Nationstar Mortgage ) 5 4.33% $19,169
    AMERISAVE MORTGAGE CORPORATION 5 4.50% $16,220
    PLANET HOME LENDING, LLC 5 4.60% $11,351
    TOWNE MORTGAGE COMPANY 5 4.42% $14,254
    Financial Funding Solutions, Inc. 5 4.48% $11,614
    EAGLE HOME MORTGAGE, LLC 5 4.83% $20,487
    MEGASTAR FINANCIAL CORP. 5 4.73% $11,730
    HOME MORTGAGE ALLIANCE, LLC 5 4.98% $13,147
    First Western Trust Bank 4 4.50% $12,500
    Carrington Mortgage Services, LLC 4 5.72% $16,736
    CARDINAL FINANCIAL 4 4.28% $12,207
    T2 FINANCIAL LLC 4 4.56% $16,559
    ACADEMY MORTGAGE CORPORATION 4 4.16% $16,230
    Elevations Credit Union 4 5.09% $11,583
    Loan Simple, Inc. 4 5.00% $14,382
    Amerifirst Financial, Inc. 4 4.69% $15,235
    Paramount Residential Mortgage Group, Inc. 4 5.34% $18,834
    Franklin Loan Corporation 4 5.03% $13,688
    FREEDOM MORTGAGE CORPORATION 4 4.09% $10,286
    GROUP MORTGAGE, LLC 4 3.47% $12,828
    NEWREZ LLC 4 4.03% $10,077
    GUILD MORTGAGE COMPANY 4 5.59% $18,510
    NFM, INC. 3 4.42% $15,169
    AMERICAN PACIFIC MORTGAGE CORPORATION 3 4.38% $12,000
    GUARANTEED RATE AFFINITY, LLC 3 5.58% $12,397
    CMG MORTGAGE, INC. 3 5.04% $16,461
    VAN DYK MORTGAGE CORPORATION 3 5.79% $13,634
    Bank of Colorado 3 4.83% $13,060
    LOANPAL, LLC 2 3.88% $13,495
    American Mortgage & Equity Consultants, Inc. 2 5.81% $16,451
    CITYWIDE HOME LOANS, LLC 2 5.63% $16,288
    Equity Prime Mortgage LLC 2 3.81% $14,172
    EVERETT FINANCIAL, INC. 2 5.81% $9,474
    FINANCE OF AMERICA MORTGAGE LLC 2 2.94% $12,812
    First National Bank of Omaha 2 5.31% $10,997
    Flagstar Bank, FSB 2 6.00% $10,338
    GENEVA FINANCIAL, LLC 2 4.63% $19,758
    GUARANTEED RATE, INC. 2 6.31% $13,462
    HOMEAMERICAN MORTGAGE CORPORATION 2 3.69% $10,323
    MORIA DEVELOPMENT, INC. 2 5.44% $12,803
    MOVEMENT MORTGAGE, LLC 2 5.19% $15,395
    NBKC BANK 2 3.31% $11,972
    NOVA FINANCIAL & INVESTMENT CORPORATION 2 5.62% $5,603
    PLAZA HOME MORTGAGE, INC. 2 5.31% $17,928
    S1L, Inc. 2 4.63% $18,002
    Bank of England 1 5.38% $17,680
    IDEAL HOME LOANS LLC 1 3.75% $15,643
    Nations Lending Corporation 1 5.75% $10,071
    NBH Bank 1 4.75% $8,456
    AmeriHome Mortgage Company, LLC 1 3.38% $7,980
    Hometown Equity Mortgage, LLC 1 6.75% $18,496
    HOMESIDE FINANCIAL, LLC 1 4.75% $12,776
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 5.00% $11,300
    AMCAP MORTGAGE, LTD. 1 5.13% $16,787
    FIRST CENTENNIAL MORTGAGE CORPORATION 1 4.38% $13,978
    DRAPER AND KRAMER MORTGAGE CORP. 1 5.13% $10,545
    Colten Mortgage, LLC 1 4.88% $18,681
    VERITAS FUNDING, LLC 1 4.13% $15,722
    PNC Bank 1 5.13% $11,849
    Century Mortgage Company DBA Century Lending Company 1 2.75% $10,230
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.75% $13,373
    BOKF 1 4.25% $14,897
    V.I.P. MORTGAGE, INC. 1 5.88% $12,171
    SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $18,276
    South Pacific Financial Corporation 1 3.63% $13,487
    SUMMIT FUNDING, INC. 1 6.25% $14,712
    BAY EQUITY LLC 1 5.25% $14,943
    The Federal Savings Bank 1 5.25% $10,891
    Bank of the West 1 6.63% $6,823
    Lakeview Community Capital, LLC 1 2.88% $7,282
    LADERA LENDING, INC. 1 6.63% $16,548
    Magnolia Bank 1 5.25% $12,611
    KBHS HOME LOANS, LLC 1 5.50% $16,945
    UNITED MORTGAGE CORP 1 5.25% $17,881
    INTEGRITY MORTGAGE & FINANCIAL INCORPORATED 1 5.75% $19,083

    The top Fort Collins FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 48 FHA loans originated. Their average total fees are $13,416, which is $1,082 higher than the next largest lender, AMERICAN FINANCING CORPORATION.

    The lowest fee Fort Collins FHA lenders (with over 10 loans originated) are AMERICAN FINANCING CORPORATION ($12,333), QUICKEN LOANS, LLC ($12,350), UNITED WHOLESALE MORTGAGE, LLC ($13,416), LOANDEPOT.COM, LLC ($13,452) and CORNERSTONE HOME LENDING, INC. ($13,454).

    The lowest rate Fort Collins FHA lenders (with over 10 loans originated) are AMERICAN FINANCING CORPORATION (4.23%), QUICKEN LOANS, LLC (4.31%), UNITED WHOLESALE MORTGAGE, LLC (4.52%), NEST HOME LENDING, LLC (4.68%) and LOANDEPOT.COM, LLC (4.84%).

    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 (9.0%) 1.68 860
    2018-04-01 $491,200 (9.2%) $621,106 (12.3%) 1.67 905
    2018-05-01 $490,966 (8.0%) $616,989 (10.5%) 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 1,261
    2018-08-01 $466,475 (3.7%) $588,416 (3.0%) 1.56 1,326
    2018-09-01 $465,000 (3.3%) $588,422 (3.4%) 1.56 1,348
    2018-10-01 $454,493 (-0.1%) $578,080 (0.9%) 1.54 1,295
    2018-11-01 $449,000 (-2.1%) $569,891 (0.4%) 1.52 1,255
    2018-12-01 $439,900 (-5.4%) $562,647 (-2.5%) 1.52 1,128
    2019-01-01 $439,950 (-6.4%) $554,773 (-4.1%) 1.52 1,044
    2019-02-01 $441,260 (-6.9%) $553,021 (-6.8%) 1.49 1,041
    2019-03-01 $447,143 (-6.7%) $562,920 (-8.2%) 1.46 1,023
    2019-04-01 $451,200 (-8.1%) $571,432 (-8.0%) 1.43 1,036
    2019-05-01 $452,450 (-7.8%) $573,828 (-7.0%) 1.41 1,163
    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 $433,754 (-7.0%) $554,319 (-5.8%) 1.37 1,510
    2019-09-01 $431,885 (-7.1%) $552,136 (-6.2%) 1.38 1,471
    2019-10-01 $430,639 (-5.3%) $551,537 (-4.6%) 1.39 1,425
    2019-11-01 $430,582 (-4.1%) $552,315 (-3.1%) 1.41 1,304
    2019-12-01 $433,127 (-1.5%) $553,131 (-1.7%) 1.44 1,128
    2020-01-01 $439,239 (-0.2%) $565,759 (2.0%) 1.47 1,009
    2020-02-01 $449,900 (2.0%) $571,034 (3.3%) 1.48 966
    2020-03-01 $451,767 (1.0%) $575,737 (2.3%) 1.42 975
    2020-04-01 $452,000 (0.2%) $585,106 (2.4%) 1.42 1,124
    2020-05-01 $460,000 (1.7%) $588,664 (2.6%) 1.40 1,288
    2020-06-01 $472,253 (6.4%) $600,111 (7.5%) 1.39 1,213
    2020-07-01 $469,900 (7.4%) $596,656 (6.9%) 1.36 1,147
    2020-08-01 $469,900 (8.3%) $602,834 (8.8%) 1.35 1,031
    2020-09-01 $464,785 (7.6%) $608,824 (10.3%) 1.33 925
    2020-10-01 $474,950 (10.3%) $616,231 (11.7%) 1.36 799
    2020-11-01 $473,750 (10.0%) $619,890 (12.2%) 1.39 731
    2020-12-01 $475,027 (9.7%) $625,102 (13.0%) 1.41 649
    2021-01-01 $479,800 (9.2%) $645,270 (14.1%) 1.43 490
    2021-02-01 $494,450 (9.9%) $696,258 (21.9%) 1.44 433
    2021-03-01 $518,028 (14.7%) $712,504 (23.8%) 1.47 377
    2021-04-01 $499,950 (10.6%) $693,905 (18.6%) 1.35 378
    2021-05-01 $545,000 (18.5%) $706,838 (20.1%) 1.45 378
    2021-06-01 $532,426 (12.7%) $697,139 (16.2%) 1.40 475
    2021-07-01 $549,000 (16.8%) $696,591 (16.8%) 1.45 554
    2021-08-01 $544,900 (16.0%) $690,116 (14.5%) 1.45 600
    2021-09-01 $544,450 (17.1%) $686,051 (12.7%) 1.45 590
    2021-10-01 $555,000 (16.9%) $707,612 (14.8%) 1.48 544
    2021-11-01 $563,258 (18.9%) $712,951 (15.0%) 1.51 431
    2021-12-01 $510,765 (7.5%) $625,356 (0.0%) 1.38 986
    2022-01-01 $604,245 (25.9%) $790,142 (22.5%) 1.63 262
    2022-02-01 $598,950 (21.1%) $832,905 (19.6%) 1.56 226
    2022-03-01 $606,250 (17.0%) $833,754 (17.0%) 1.52 246
    2022-04-01 $600,000 (20.0%) $809,965 (16.7%) 1.43 326
    2022-05-01 $625,050 (14.7%) $800,924 (13.3%) 1.43 504
    2022-06-01 $627,450 (17.9%) $794,139 (13.9%) 1.40 670
    2022-07-01 $635,750 (15.8%) $781,926 (12.3%) 1.43 828
    2022-08-01 $636,500 (16.8%) $809,283 (17.3%) 1.47 839
    2022-09-01 $621,200 (14.1%) $786,184 (14.6%) 1.45 880
    2022-10-01 $611,875 (10.3%) $787,574 (11.3%) 1.44 891
    2022-11-01 $592,000 (5.1%) $758,030 (6.3%) 1.42 889
    2022-12-01 $589,950 (15.5%) $762,601 (22.0%) 1.46 725
    2023-01-01 $592,500 (-1.9%) $770,004 (-2.6%) 1.47 616
    2023-02-01 $587,445 (-1.9%) $753,028 (-9.6%) 1.42 604
    2023-03-01 $604,995 (-0.2%) $776,008 (-6.9%) 1.43 607
    2023-04-01 $615,990 (2.7%) $803,155 (-0.8%) 1.43 646
    2023-05-01 $636,883 (1.9%) $812,667 (1.5%) 1.44 803
    2023-06-01 $642,900 (2.5%) $823,187 (3.7%) 1.44 940
    2023-07-01 $640,000 (0.7%) $820,271 (4.9%) 1.45 1,048
    2023-08-01 $627,473 (-1.4%) $800,228 (-1.1%) 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 (4.0%) 1.46 1,091
    Fort Collins's median listing price for 2023-10-01 was $619,995, a difference of $8,120 (1.3%) versus the prior year and $-5,005 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 2023-10-01 was $818,851, a difference of $31,277 (4.0%) versus the prior year and $9,215 versus the prior month.

    For the 2023-10-01 period, Fort Collins had 1,091 MLS listings, a difference of 27 listings (3%) versus the prior month and 200 listings (22%) 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 2,784 sqft
    2018-10-01 53 days 2,744 sqft
    2018-11-01 57 days 2,735 sqft
    2018-12-01 69 days 2,695 sqft
    2019-01-01 66 days 2,606 sqft
    2019-02-01 55 days 2,664 sqft
    2019-03-01 48 days 2,688 sqft
    2019-04-01 43 days 2,756 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 2,608 sqft
    2019-09-01 53 days 2,597 sqft
    2019-10-01 57 days 2,589 sqft
    2019-11-01 60 days 2,594 sqft
    2019-12-01 71 days 2,663 sqft
    2020-01-01 74 days 2,663 sqft
    2020-02-01 60 days 2,695 sqft
    2020-03-01 44 days 2,700 sqft
    2020-04-01 44 days 2,694 sqft
    2020-05-01 46 days 2,741 sqft
    2020-06-01 40 days 2,745 sqft
    2020-07-01 40 days 2,730 sqft
    2020-08-01 40 days 2,720 sqft
    2020-09-01 44 days 2,641 sqft
    2020-10-01 43 days 2,579 sqft
    2020-11-01 52 days 2,520 sqft
    2020-12-01 59 days 2,525 sqft
    2021-01-01 73 days 2,493 sqft
    2021-02-01 40 days 2,490 sqft
    2021-03-01 49 days 2,541 sqft
    2021-04-01 45 days 2,418 sqft
    2021-05-01 33 days 2,542 sqft
    2021-06-01 30 days 2,478 sqft
    2021-07-01 37 days 2,493 sqft
    2021-08-01 32 days 2,476 sqft
    2021-09-01 36 days 2,482 sqft
    2021-10-01 37 days 2,464 sqft
    2021-11-01 44 days 2,500 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 2,516 sqft
    2022-04-01 18 days 2,529 sqft
    2022-05-01 17 days 2,519 sqft
    2022-06-01 23 days 2,607 sqft
    2022-07-01 27 days 2,648 sqft
    2022-08-01 36 days 2,651 sqft
    2022-09-01 39 days 2,573 sqft
    2022-10-01 44 days 2,608 sqft
    2022-11-01 46 days 2,486 sqft
    2022-12-01 64 days 2,486 sqft
    2023-01-01 72 days 2,472 sqft
    2023-02-01 60 days 2,449 sqft
    2023-03-01 47 days 2,502 sqft
    2023-04-01 37 days 2,581 sqft
    2023-05-01 32 days 2,590 sqft
    2023-06-01 34 days 2,611 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
    Fort Collins's median listing age (time on market) for 2023-10-01 was 47 days. This is 7% longer than the same period one year ago.

    Fort Collins's median square footage for active listings during the 2023-10-01 period was 2,547 sqft. One year prior, the average listing was 2,608 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).