Glenwood Springs FHA Loan Rates, Closing Costs & Stats

Glenwood Springs, 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.

    Glenwood Springs's 40 lenders originated 222 FHA loans during 2024. The total origination value was $96,020,000, with an average FHA loan value of $432,523.

    Glenwood Springs FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Glenwood Springs averaged 0.06% for the week of 2025-06-20, compared to the national average (all FHA variants) of 0% for the same period.

    Glenwood Springs's average FHA mortgage closing costs are $11,097.

    The average rate for the prior week (2025-06-13) was 6.94% and one month ago for the week of 2025-05-16, the average rate was 6.5%.

    The average rate one year ago was 6.66%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.2%.

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

    Glenwood Springs 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 Glenwood Springs level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    BAY EQUITY LLC 52 6.81% $14,361
    UNITED WHOLESALE MORTGAGE, LLC 22 5.84% $18,567
    T2 FINANCIAL LLC 18 6.70% $15,466
    QUICKEN LOANS, LLC 13 6.32% $14,634
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 13 6.69% $15,497
    Paramount Residential Mortgage Group, Inc. 12 6.02% $18,074
    GUILD MORTGAGE COMPANY 9 6.53% $12,654
    BROKER SOLUTIONS, INC. 6 6.54% $11,898
    CROSSCOUNTRY MORTGAGE, LLC 5 5.90% $16,994
    NEWREZ LLC 4 6.34% $12,829
    MUTUAL OF OMAHA MORTGAGE, INC. 4 6.84% $20,849
    Alpine Bank 3 6.08% $13,783
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 2 6.63% $16,969
    AMERICAN FINANCING CORPORATION 2 6.81% $22,666
    Equity Prime Mortgage LLC 2 7.00% $20,022
    PLAZA HOME MORTGAGE, INC. 2 6.31% $14,266
    EVERETT FINANCIAL, INC. 2 6.63% $11,709
    Flagstar Bank, FSB 2 4.88% $8,615
    FREEDOM MORTGAGE CORPORATION 2 6.50% $21,535
    HOMESIDE FINANCIAL, LLC 2 5.88% $15,314
    Loan Simple, Inc. 2 6.81% $13,956
    ZILLOW HOME LOANS, LLC 1 5.75% $14,396
    AmeriHome Mortgage Company, LLC 1 6.00% $33,323
    AMERISAVE MORTGAGE CORPORATION 1 6.88% $19,164
    Bank of England 1 6.13% $11,279
    Century Mortgage Company DBA Century Lending Company 1 6.00% $13,835
    Commerce Home Mortgage, Inc. 1 6.63% $18,970
    GENEVA FINANCIAL, LLC 1 7.00% $17,686
    Keystone Funding, Inc. 1 5.75% $15,577
    Lakeview Community Capital, LLC 1 6.99% $24,924
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 6.75% $11,085
    Nations Lending Corporation 1 6.63% $21,616
    PLANET HOME LENDING, LLC 1 5.99% $11,213
    SECURITYNATIONAL MORTGAGE COMPANY 1 6.38% $14,532
    SOUTHWEST FUNDING, LP 1 6.75% $18,633
    Texana Bank 1 6.00% $33,447
    THE MORTGAGE COMPANY 1 6.88% $12,838
    VERITAS FUNDING, LLC 1 6.63% $20,274
    VILLAGE CAPITAL MORTGAGE 1 6.38% $11,061
    V.I.P. MORTGAGE, INC. 1 6.75% $13,979

    The top Glenwood Springs FHA lender as defined by loan originations is BAY EQUITY LLC, with 52 FHA loans originated. Their average total fees are $14,361, which is $4,206 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

    The lowest fee Glenwood Springs FHA lenders (with over 10 loans originated) are BAY EQUITY LLC ($14,361), QUICKEN LOANS, LLC ($14,634), T2 FINANCIAL LLC ($15,466), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($15,497) and Paramount Residential Mortgage Group, Inc. ($18,074).

    The lowest rate Glenwood Springs FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.84%), Paramount Residential Mortgage Group, Inc. (6.02%), QUICKEN LOANS, LLC (6.32%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.69%) and T2 FINANCIAL LLC (6.70%).

    Glenwood Springs FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    GLENWOOD SPRINGS, CO GARFIELD 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    GLENWOOD SPRINGS, CO PITKIN 2022 $970,800 $1,243,050 $1,502,475 $1,867,275
    GLENWOOD SPRINGS, CO GARFIELD 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200
    GLENWOOD SPRINGS, CO PITKIN 2023 $1,089,300 $1,394,775 $1,685,850 $2,095,200

    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).