Grand Junction FHA Loan Rates, Closing Costs & Stats

GRAND JUNCTION, 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.

    Grand Junction's 61 lenders originated 599 FHA loans during 2024. The total origination value was $200,245,000, with an average FHA loan value of $334,299.

    Grand Junction FHA Loans, 30 Year Fixed Rates

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

    Grand Junction's average FHA mortgage closing costs are $8,786.

    The average rate for the prior week (2025-06-13) was 6.64% and one month ago for the week of 2025-05-16, the average rate was 6.9%.

    The average rate one year ago was 6.86%.

    For refis of the same type during the week of 2025-06-20, the average rate was -0.51%.

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

    Grand Junction 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 Grand Junction level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 69 6.69% $8,828
    GUILD MORTGAGE COMPANY 60 6.61% $12,510
    UNITED WHOLESALE MORTGAGE, LLC 57 5.80% $15,253
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 45 6.62% $12,923
    QUICKEN LOANS, LLC 37 6.04% $13,743
    CROSSCOUNTRY MORTGAGE, LLC 21 6.71% $13,229
    V.I.P. MORTGAGE, INC. 20 6.42% $13,257
    Paramount Residential Mortgage Group, Inc. 16 6.52% $13,008
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 12 6.38% $14,043
    FREEDOM MORTGAGE CORPORATION 12 6.20% $12,635
    PLAZA HOME MORTGAGE, INC. 11 6.54% $13,825
    Northpointe Bank 10 6.53% $11,895
    BROKER SOLUTIONS, INC. 10 6.71% $13,879
    BAY EQUITY LLC 9 7.04% $11,391
    Equity Prime Mortgage LLC 8 6.47% $13,430
    The Central Trust Bank 8 6.31% $10,941
    PRIMARY RESIDENTIAL MORTGAGE, INC. 8 6.59% $10,342
    HOMESIDE FINANCIAL, LLC 7 6.48% $15,028
    AMERICAN FINANCING CORPORATION 7 5.93% $14,564
    Loan Simple, Inc. 7 6.77% $12,133
    LOANDEPOT.COM, LLC 6 6.02% $17,382
    PENNYMAC LOAN SERVICES, LLC 5 5.78% $13,207
    NEWREZ LLC 5 6.40% $11,935
    LAKEVIEW LOAN SERVICING, LLC 4 6.63% $12,436
    CMG MORTGAGE, INC. 4 7.03% $12,338
    CORNERSTONE HOME LENDING, INC. 4 6.78% $11,395
    Ixonia Bank 4 6.91% $12,356
    SUN WEST MORTGAGE COMPANY, INC. 3 6.17% $19,185
    Bank of Colorado 3 5.92% $12,798
    T2 FINANCIAL LLC 3 6.88% $10,877
    Carrington Mortgage Services, LLC 3 6.25% $16,484
    GERSHMAN INVESTMENT CORP. 3 6.17% $11,099
    ENVOY MORTGAGE, LTD 2 6.88% $13,979
    Armed Forces Bank 2 6.00% $9,008
    Alpine Bank 2 5.69% $8,552
    First Western Trust Bank 2 5.63% $5,118
    GENEVA FINANCIAL, LLC 2 7.00% $11,378
    Mr. Cooper ( Nationstar Mortgage ) 2 6.25% $18,266
    PLANET HOME LENDING, LLC 2 6.81% $6,077
    The Loan Store, Inc. 2 6.94% $10,925
    M&T Bank 1 6.25% $10,848
    MUTUAL OF OMAHA MORTGAGE, INC. 1 6.75% $15,023
    MICHIGAN MUTUAL, INC. 1 6.25% $23,159
    LOANPAL, LLC 1 5.63% $6,095
    Lakeview Community Capital, LLC 1 5.25% $11,871
    Peak Financial 1 8.25% $8,750
    LADERA LENDING, INC. 1 6.50% $17,766
    AMERICAN FINANCIAL NETWORK, INC. 1 7.75% $8,190
    Keystone Funding, Inc. 1 6.75% $8,529
    INTERCOASTAL MORTGAGE COMPANY 1 6.25% $11,711
    GSF Mortgage Corporation 1 6.63% $22,246
    FIRST COMMUNITY MORTGAGE, INC. 1 8.25% $8,750
    EVERETT FINANCIAL, INC. 1 6.88% $12,024
    ENDEAVOR CAPITAL, LLC. 1 6.49% $10,458
    Wells Fargo Bank 1 6.88% $6,309
    TOWNE MORTGAGE COMPANY 1 5.75% $12,230
    CHURCHILL MORTGAGE CORPORATION 1 7.75% $15,411
    VERITAS FUNDING, LLC 1 6.13% $16,642
    Mortgage Research Center, LLC 1 6.63% $8,675
    MORTGAGE SOLUTIONS OF COLORADO, LLC 1 7.25% $14,529
    VILLAGE CAPITAL MORTGAGE 1 6.13% $10,312

    The top Grand Junction FHA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 69 FHA loans originated. Their average total fees are $8,828, which is $3,682 lower than the next largest lender, GUILD MORTGAGE COMPANY.

    The lowest fee Grand Junction FHA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($8,828), Northpointe Bank ($11,895), GUILD MORTGAGE COMPANY ($12,510), FREEDOM MORTGAGE CORPORATION ($12,635) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($12,923).

    The lowest rate Grand Junction FHA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (5.80%), QUICKEN LOANS, LLC (6.04%), FREEDOM MORTGAGE CORPORATION (6.20%), GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION (6.38%) and V.I.P. MORTGAGE, INC. (6.42%).

    Grand Junction FHA Loan Limits

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

    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).