Fort Collins FHA Loans

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 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).