Fort Morgan FHA Loan Rates, Closing Costs & Stats
Fort Morgan, 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 Morgan's 45 lenders originated 156 FHA loans during 2023. The total origination value was $46,530,000, with an average FHA loan value of $298,269.
Fort Morgan FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Fort Morgan
averaged
0.12%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Fort Morgan's average FHA mortgage closing costs are $9,075.
The average rate for the prior week (2024-11-22) was
6.51% and
one month ago for the week of 2024-10-25, the
average rate was 6.29%.
The average rate one year ago was 7.28%.
For refis of the same type during the week of 2024-11-29, the average rate
was -0.1%.
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.
The top Fort Morgan FHA lender as defined by loan originations is Bank of Colorado, with
18 FHA loans originated. Their average total fees are
$11,798, which is $1,653
lower than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Fort Morgan FHA lenders (with over 10 loans originated) are
Bank of Colorado ($11,798), QUICKEN LOANS, LLC ($13,451), UNITED WHOLESALE MORTGAGE, LLC ($14,149), .
The lowest rate Fort Morgan FHA lenders (with over 10 loans originated) are
UNITED WHOLESALE MORTGAGE, LLC (6.24%), QUICKEN LOANS, LLC (6.25%), Bank of Colorado (6.76%), .
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. LouisDate | 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 | $378,000 (-7.5%) | $432,289 (-19.1%) | 0.00 | 85 |
2024-06-01 | $377,500 (-9.3%) | $423,659 (-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%) | $441,517 (-11.5%) | 0.00 | 93 |
2024-09-01 | $382,450 (-4.2%) | $455,220 (-12.2%) | 0.00 | 113 |
2024-10-01 | $373,475 (-4.9%) | $466,959 (-8.4%) | 0.00 | 114 |
Fort Morgan's median listing price comes in at 0% of the national average.
Fort Morgan's average listing price for 2024-10-01 was $466,959, a difference of $-42,748 (-8.4%) versus the prior year and $11,739 versus the prior month.
For the 2024-10-01 period, Fort Morgan had 114 MLS listings, a difference of 1 listings (1%) versus the prior month and 27 listings (31%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Fort Morgan (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | 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 | 2,249 sqft |
2024-06-01 | 0 days | 2,352 sqft |
2024-07-01 | 0 days | 2,342 sqft |
2024-08-01 | 0 days | 2,160 sqft |
2024-09-01 | 0 days | 2,089 sqft |
2024-10-01 | 0 days | 2,212 sqft |
Fort Morgan's median square footage for active listings during the 2024-10-01 period was 2,212 sqft. One year prior, the average listing was 2,444 sqft.