Fort Morgan FHA Loan Rates, Closing Costs & Stats

Fort Morgan, 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 Morgan's 40 lenders originated 176 FHA loans during 2024. The total origination value was $55,930,000, with an average FHA loan value of $317,784.

    Fort Morgan FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Fort Morgan averaged 6.63% for the week of 2025-04-04, compared to the national average (all FHA variants) of 6.259% for the same period.

    Fort Morgan's average FHA mortgage closing costs are $9,485.

    The average rate for the prior week (2025-03-28) was 6.33% and one month ago for the week of 2025-02-28, the average rate was 6.52%.

    The average rate one year ago was 6.53%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.36%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Fort Morgan 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 Morgan level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 19 6.03% $14,858
    Bank of Colorado 17 6.58% $13,320
    AMERICAN FINANCING CORPORATION 13 6.25% $13,213
    Loan Simple, Inc. 12 6.81% $11,388
    QUICKEN LOANS, LLC 12 6.39% $10,982
    CROSSCOUNTRY MORTGAGE, LLC 9 6.51% $11,967
    GUILD MORTGAGE COMPANY 9 6.63% $13,483
    Northpointe Bank 5 6.73% $13,685
    VAN DYK MORTGAGE CORPORATION 5 6.48% $11,179
    Ixonia Bank 4 7.06% $12,311
    EVERETT FINANCIAL, INC. 4 6.69% $14,106
    NATIONS DIRECT MORTGAGE, LLC 3 6.25% $14,797
    PENNYMAC LOAN SERVICES, LLC 3 6.33% $15,053
    Flagstar Bank, FSB 3 6.63% $12,048
    BROKER SOLUTIONS, INC. 3 6.50% $13,333
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 3 6.75% $11,423
    NEWREZ LLC 3 6.63% $14,161
    AMERICAN FINANCIAL NETWORK, INC. 2 6.94% $13,486
    ENVOY MORTGAGE, LTD 2 6.94% $12,637
    Financial Funding Solutions, Inc. 2 6.06% $7,180
    FREEDOM MORTGAGE CORPORATION 2 6.50% $13,584
    PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.31% $0
    ZILLOW HOME LOANS, LLC 1 5.13% $21,944
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 6.25% $10,093
    HOMESIDE FINANCIAL, LLC 1 7.13% $10,650
    Keystone Funding, Inc. 1 6.25% $11,706
    LAKEVIEW LOAN SERVICING, LLC 1 6.75% $8,276
    MICHIGAN MUTUAL, INC. 1 7.25% $7,289
    MID AMERICA MORTGAGE, INC. 1 6.25% $4,797
    Mr. Cooper ( Nationstar Mortgage ) 1 6.13% $19,829
    Paramount Residential Mortgage Group, Inc. 1 7.00% $15,091
    PLANET HOME LENDING, LLC 1 6.25% $4,103
    S1L, Inc. 1 7.00% $15,834
    SOUTHWEST FUNDING, LP 1 6.25% $12,417
    Sunflower Bank 1 5.99% $8,435
    SUN WEST MORTGAGE COMPANY, INC. 1 5.50% $18,154
    TOP FLITE FINANCIAL, INC. 1 7.00% $11,495
    TruHome Solutions, LLC 1 5.88% $9,070
    VERITAS FUNDING, LLC 1 5.88% $19,623
    V.I.P. MORTGAGE, INC. 1 5.25% $14,575

    The top Fort Morgan FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 19 FHA loans originated. Their average total fees are $14,858, which is $1,538 higher than the next largest lender, Bank of Colorado.

    The lowest fee Fort Morgan FHA lenders (with over 10 loans originated) are QUICKEN LOANS, LLC ($10,982), Loan Simple, Inc. ($11,388), AMERICAN FINANCING CORPORATION ($13,213), Bank of Colorado ($13,320) and UNITED WHOLESALE MORTGAGE, LLC ($14,858).

    The lowest rate Fort Morgan FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.03%), AMERICAN FINANCING CORPORATION (6.25%), QUICKEN LOANS, LLC (6.39%), Bank of Colorado (6.58%) and Loan Simple, Inc. (6.81%).

    Fort Morgan FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    FORT MORGAN, CO MORGAN 2022 $420,680 $538,650 $651,050 $809,150
    FORT MORGAN, CO MORGAN 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Fort Morgan (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 $290,000 (16.1%) $283,280 (9.9%) 0.00 103
    2018-02-01 $290,000 (14.7%) $291,054 (11.5%) 0.00 96
    2018-03-01 $290,000 (9.4%) $300,993 (10.9%) 0.00 86
    2018-04-01 $290,000 (5.5%) $309,696 (11.7%) 0.00 80
    2018-05-01 $290,000 (5.5%) $306,124 (9.7%) 0.00 91
    2018-06-01 $290,000 (5.5%) $298,566 (4.8%) 0.00 99
    2018-07-01 $290,000 (5.5%) $300,978 (4.7%) 0.00 93
    2018-08-01 $290,000 (5.5%) $303,680 (4.3%) 0.00 103
    2018-09-01 $290,000 (5.5%) $307,930 (11.4%) 0.00 119
    2018-10-01 $294,625 (7.1%) $300,498 (7.4%) 0.00 113
    2018-11-01 $299,000 (8.7%) $309,788 (10.2%) 0.00 105
    2018-12-01 $299,000 (3.1%) $302,843 (4.2%) 0.00 97
    2019-01-01 $299,000 (3.1%) $302,892 (6.9%) 0.00 91
    2019-02-01 $299,000 (3.1%) $309,704 (6.4%) 0.00 84
    2019-03-01 $299,000 (3.1%) $308,934 (2.6%) 0.00 88
    2019-04-01 $299,000 (3.1%) $308,755 (-0.3%) 0.00 105
    2019-05-01 $299,000 (3.1%) $314,851 (2.9%) 0.00 111
    2019-06-01 $299,000 (3.1%) $319,525 (7.0%) 0.00 119
    2019-07-01 $299,119 (3.1%) $335,406 (11.4%) 0.00 127
    2019-08-01 $300,764 (3.7%) $339,439 (11.8%) 0.00 131
    2019-09-01 $304,553 (5.0%) $336,769 (9.4%) 0.00 130
    2019-10-01 $311,250 (5.6%) $343,405 (14.3%) 0.00 126
    2019-11-01 $304,900 (2.0%) $340,490 (9.9%) 0.00 107
    2019-12-01 $299,900 (0.3%) $334,439 (10.4%) 0.00 98
    2020-01-01 $300,825 (0.6%) $338,199 (11.7%) 0.00 98
    2020-02-01 $308,000 (3.0%) $339,466 (9.6%) 0.00 90
    2020-03-01 $299,675 (0.2%) $347,557 (12.5%) 0.00 91
    2020-04-01 $308,625 (3.2%) $354,382 (14.8%) 0.00 90
    2020-05-01 $307,500 (2.8%) $336,047 (6.7%) 0.00 90
    2020-06-01 $321,225 (7.4%) $348,957 (9.2%) 0.00 78
    2020-07-01 $314,688 (5.2%) $343,714 (2.5%) 0.00 74
    2020-08-01 $298,000 (-0.9%) $335,069 (-1.3%) 0.00 60
    2020-09-01 $295,950 (-2.8%) $336,827 (0.0%) 0.00 55
    2020-10-01 $305,000 (-2.0%) $345,120 (0.5%) 0.00 52
    2020-11-01 $303,625 (-0.4%) $323,407 (-5.0%) 0.00 54
    2020-12-01 $279,838 (-6.7%) $310,649 (-7.1%) 0.00 48
    2021-01-01 $264,400 (-12.1%) $313,476 (-7.3%) 0.00 37
    2021-02-01 $305,000 (-1.0%) $347,836 (2.5%) 0.00 31
    2021-03-01 $293,718 (-2.0%) $318,188 (-8.5%) 0.00 27
    2021-04-01 $316,250 (2.5%) $373,456 (5.4%) 0.00 28
    2021-05-01 $334,500 (8.8%) $412,860 (22.9%) 0.00 27
    2021-06-01 $368,475 (14.7%) $415,581 (19.1%) 0.00 34
    2021-07-01 $376,450 (19.6%) $416,307 (21.1%) 0.00 31
    2021-08-01 $368,500 (23.7%) $408,465 (21.9%) 0.00 35
    2021-09-01 $362,500 (22.5%) $387,141 (14.9%) 0.00 40
    2021-10-01 $325,000 (6.6%) $352,465 (2.1%) 0.00 45
    2021-11-01 $325,000 (7.0%) $356,367 (10.2%) 0.00 44
    2021-12-01 $322,500 (15.3%) $360,107 (15.9%) 0.00 91
    2022-01-01 $314,950 (19.1%) $334,104 (6.6%) 0.00 52
    2022-02-01 $322,475 (5.7%) $360,566 (3.7%) 0.00 40
    2022-03-01 $325,000 (10.7%) $361,986 (13.8%) 0.00 37
    2022-04-01 $385,000 (21.7%) $406,043 (8.7%) 0.00 42
    2022-05-01 $448,250 (34.0%) $461,279 (11.7%) 0.00 57
    2022-06-01 $447,750 (21.5%) $467,005 (12.4%) 0.00 66
    2022-07-01 $453,271 (20.4%) $506,794 (21.7%) 0.00 82
    2022-08-01 $455,000 (23.5%) $512,481 (25.5%) 0.00 96
    2022-09-01 $439,000 (21.1%) $497,361 (28.5%) 0.00 105
    2022-10-01 $425,000 (30.8%) $477,933 (35.6%) 0.00 96
    2022-11-01 $412,750 (27.0%) $499,383 (40.1%) 0.00 97
    2022-12-01 $400,000 (24.0%) $533,308 (48.1%) 0.00 92
    2023-01-01 $368,000 (16.8%) $499,341 (49.5%) 0.00 80
    2023-02-01 $395,750 (22.7%) $499,526 (38.5%) 0.00 75
    2023-03-01 $392,500 (20.8%) $508,613 (40.5%) 0.00 75
    2023-04-01 $375,000 (-2.6%) $515,745 (27.0%) 0.00 77
    2023-05-01 $408,500 (-8.9%) $534,298 (15.8%) 0.00 85
    2023-06-01 $416,250 (-7.0%) $524,831 (12.4%) 0.00 83
    2023-07-01 $440,000 (-2.9%) $528,212 (4.2%) 0.00 82
    2023-08-01 $406,250 (-10.7%) $498,820 (-2.7%) 0.00 93
    2023-09-01 $399,000 (-9.1%) $518,723 (4.3%) 0.00 88
    2023-10-01 $392,500 (-7.7%) $509,707 (6.7%) 0.00 87
    2023-11-01 $387,950 (-6.0%) $463,816 (-7.1%) 0.00 86
    2023-12-01 $375,000 (-6.3%) $441,213 (-17.3%) 0.00 89
    2024-01-01 $368,250 (0.1%) $435,627 (-12.8%) 0.00 77
    2024-02-01 $362,475 (-8.4%) $427,019 (-14.5%) 0.00 71
    2024-03-01 $362,000 (-7.8%) $418,637 (-17.7%) 0.00 71
    2024-04-01 $381,000 (1.6%) $446,032 (-13.5%) 0.00 85
    2024-05-01 $377,000 (-7.7%) $435,960 (-18.4%) 0.00 85
    2024-06-01 $375,000 (-9.9%) $423,536 (-19.3%) 0.00 90
    2024-07-01 $412,500 (-6.3%) $449,865 (-14.8%) 0.00 78
    2024-08-01 $402,500 (-0.9%) $442,993 (-11.2%) 0.00 92
    2024-09-01 $386,225 (-3.2%) $455,220 (-12.2%) 0.00 113
    2024-10-01 $373,475 (-4.9%) $466,959 (-8.4%) 0.00 114
    2024-11-01 $375,000 (-3.3%) $481,632 (3.8%) 0.00 119
    2024-12-01 $365,500 (-2.5%) $469,287 (6.4%) 0.00 126
    2025-01-01 $367,252 (-0.3%) $464,946 (6.7%) 0.00 124
    2025-02-01 $354,950 (-2.1%) $459,937 (7.7%) 0.00 114
    2025-03-01 $370,000 (2.2%) $481,060 (14.9%) 0.00 119
    Fort Morgan's median listing price for 2025-03-01 was $370,000, a difference of $8,000 (2.2%) versus the prior year and $15,050 versus the prior month.

    Fort Morgan's median listing price comes in at 0% of the national average.

    Fort Morgan's average listing price for 2025-03-01 was $481,060, a difference of $62,423 (14.9%) versus the prior year and $21,123 versus the prior month.

    For the 2025-03-01 period, Fort Morgan had 119 MLS listings, a difference of 5 listings (4%) versus the prior month and 48 listings (68%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Fort Morgan (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,915 sqft
    2018-02-01 0 days 1,898 sqft
    2018-03-01 0 days 2,012 sqft
    2018-04-01 0 days 2,226 sqft
    2018-05-01 0 days 2,233 sqft
    2018-06-01 0 days 2,080 sqft
    2018-07-01 0 days 2,126 sqft
    2018-08-01 0 days 2,175 sqft
    2018-09-01 0 days 2,184 sqft
    2018-10-01 0 days 2,087 sqft
    2018-11-01 0 days 2,176 sqft
    2018-12-01 0 days 2,275 sqft
    2019-01-01 0 days 2,184 sqft
    2019-02-01 0 days 2,171 sqft
    2019-03-01 0 days 2,191 sqft
    2019-04-01 0 days 2,207 sqft
    2019-05-01 0 days 2,217 sqft
    2019-06-01 0 days 2,311 sqft
    2019-07-01 0 days 2,351 sqft
    2019-08-01 0 days 2,363 sqft
    2019-09-01 0 days 2,369 sqft
    2019-10-01 0 days 2,417 sqft
    2019-11-01 0 days 2,404 sqft
    2019-12-01 0 days 2,422 sqft
    2020-01-01 0 days 2,411 sqft
    2020-02-01 0 days 2,466 sqft
    2020-03-01 0 days 2,480 sqft
    2020-04-01 0 days 2,491 sqft
    2020-05-01 0 days 2,336 sqft
    2020-06-01 0 days 2,480 sqft
    2020-07-01 0 days 2,275 sqft
    2020-08-01 0 days 2,180 sqft
    2020-09-01 0 days 2,210 sqft
    2020-10-01 0 days 2,369 sqft
    2020-11-01 0 days 2,223 sqft
    2020-12-01 0 days 2,110 sqft
    2021-01-01 0 days 2,315 sqft
    2021-02-01 0 days 2,075 sqft
    2021-03-01 0 days 2,112 sqft
    2021-04-01 0 days 2,246 sqft
    2021-05-01 0 days 2,235 sqft
    2021-06-01 0 days 2,181 sqft
    2021-07-01 0 days 2,335 sqft
    2021-08-01 0 days 2,227 sqft
    2021-09-01 0 days 2,127 sqft
    2021-10-01 0 days 1,981 sqft
    2021-11-01 0 days 2,027 sqft
    2021-12-01 0 days 2,030 sqft
    2022-01-01 0 days 2,020 sqft
    2022-02-01 0 days 2,020 sqft
    2022-03-01 0 days 2,099 sqft
    2022-04-01 0 days 2,264 sqft
    2022-05-01 0 days 2,772 sqft
    2022-06-01 0 days 2,795 sqft
    2022-07-01 0 days 2,754 sqft
    2022-08-01 0 days 2,770 sqft
    2022-09-01 0 days 2,491 sqft
    2022-10-01 0 days 2,300 sqft
    2022-11-01 0 days 2,300 sqft
    2022-12-01 0 days 2,280 sqft
    2023-01-01 0 days 2,086 sqft
    2023-02-01 0 days 2,233 sqft
    2023-03-01 0 days 2,176 sqft
    2023-04-01 0 days 2,104 sqft
    2023-05-01 0 days 2,252 sqft
    2023-06-01 0 days 2,449 sqft
    2023-07-01 0 days 2,478 sqft
    2023-08-01 0 days 2,465 sqft
    2023-09-01 0 days 2,375 sqft
    2023-10-01 0 days 2,444 sqft
    2023-11-01 0 days 2,446 sqft
    2023-12-01 0 days 2,402 sqft
    2024-01-01 0 days 2,294 sqft
    2024-02-01 0 days 2,376 sqft
    2024-03-01 0 days 1,936 sqft
    2024-04-01 0 days 2,224 sqft
    2024-05-01 0 days 2,238 sqft
    2024-06-01 0 days 2,321 sqft
    2024-07-01 0 days 2,342 sqft
    2024-08-01 0 days 2,132 sqft
    2024-09-01 0 days 2,084 sqft
    2024-10-01 0 days 2,212 sqft
    2024-11-01 0 days 2,242 sqft
    2024-12-01 0 days 2,278 sqft
    2025-01-01 0 days 2,280 sqft
    2025-02-01 0 days 2,222 sqft
    2025-03-01 0 days 2,280 sqft
    Fort Morgan's median listing age (time on market) for 2025-03-01 was 0 days.

    Fort Morgan's median square footage for active listings during the 2025-03-01 period was 2,280 sqft. One year prior, the average listing was 1,936 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).