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 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 6.69% for the week of 2024-05-10, compared to the national average (all FHA variants) of 6.786% for the same period.

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

The average rate for the prior week (2024-05-03) was 6.48% and one month ago for the week of 2024-04-05, the average rate was 6.37%.

The average rate one year ago was 6.27%.

For refis of the same type during the week of 2024-05-10, the average rate was 7.17%.

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
Fort Collins's median listing price for 2024-04-01 was $649,375, a difference of $33,880 (5.5%) versus the prior year and $-5,625 versus the prior month.

Fort Collins's median listing price comes in at 151% of the national average.

Fort Collins's average listing price for 2024-04-01 was $838,008, a difference of $34,627 (4.3%) versus the prior year and $-6,046 versus the prior month.

For the 2024-04-01 period, Fort Collins had 835 MLS listings, a difference of 99 listings (13%) versus the prior month and 190 listings (29%) 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
Fort Collins's median listing age (time on market) for 2024-04-01 was 37 days. This is 0% longer than the same period one year ago.

Fort Collins's median square footage for active listings during the 2024-04-01 period was 2,562 sqft. One year prior, the average listing was 2,582 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).