Greeley FHA Loans

GREELEY, 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.

    Greeley's 169 lenders originated 3,618 FHA loans during 2021. The total origination value was $1,182,880,000, with an average FHA loan value of $326,943.

    Greeley FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Greeley averaged 5.24% for the week of 2022-05-20, compared to the national average (all FHA variants) of 5.352% for the same period.

    The average rate for the prior week (2022-05-13) was 5.44% and one month ago for the week of 2022-04-15, the average rate was 4.93%.

    The average rate one year ago was 2.91%.

    For refis of the same type during the week of 2022-05-20, the average rate was 5.05%.

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

    Greeley 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 Greeley level.

    Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
    AMERICAN FINANCING CORPORATION 290 2.87% $9,853
    PRIMARY RESIDENTIAL MORTGAGE, INC. 202 3.06% $12,073
    QUICKEN LOANS, LLC 166 2.64% $8,500
    CROSSCOUNTRY MORTGAGE, LLC 135 3.19% $10,876
    UNITED WHOLESALE MORTGAGE, LLC 134 2.68% $9,443
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 130 3.24% $12,588
    VAN DYK MORTGAGE CORPORATION 112 3.04% $11,375
    CORNERSTONE HOME LENDING, INC. 92 3.16% $11,634
    CALIBER HOME LOANS, INC. 91 2.84% $9,096
    LOANDEPOT.COM, LLC 90 3.04% $11,672
    UNIVERSAL LENDING CORPORATION 86 3.16% $12,178
    GUILD MORTGAGE COMPANY 79 3.08% $11,765
    LAKEVIEW LOAN SERVICING, LLC 77 2.83% $6,455
    DHI MORTGAGE COMPANY, LTD. 73 2.96% $12,975
    BROKER SOLUTIONS, INC. 69 3.15% $10,985
    CHERRY CREEK MORTGAGE, LLC 66 3.18% $5,791
    FREEDOM MORTGAGE CORPORATION 65 2.62% $6,646
    Mr. Cooper ( Nationstar Mortgage ) 63 3.06% $5,787
    HOME POINT FINANCIAL CORPORATION 61 2.69% $9,832
    Gateway First Bank 47 3.38% $10,758
    PENNYMAC LOAN SERVICES, LLC 42 2.86% $7,293
    Paramount Residential Mortgage Group, Inc. 38 3.21% $11,548
    NEWREZ LLC 36 2.83% $6,785
    Loan Simple, Inc. 33 3.11% $12,483
    Nations Lending Corporation 27 3.13% $14,053
    MEGASTAR FINANCIAL CORP. 26 2.99% $11,649
    HOMEAMERICAN MORTGAGE CORPORATION 26 2.77% $6,977
    ACADEMY MORTGAGE CORPORATION 24 3.11% $10,678
    Amerifirst Financial, Inc. 23 3.19% $12,455
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 23 2.96% $9,675
    Northpointe Bank 22 3.19% $12,403
    PLANET HOME LENDING, LLC 21 2.92% $9,219
    Lakeview Community Capital, LLC 21 2.92% $5,808
    S1L, Inc. 20 3.14% $12,938
    VILLAGE CAPITAL & INVESTMENT LLC 20 2.84% $4,111
    FINANCE OF AMERICA MORTGAGE LLC 19 2.83% $9,260
    Carrington Mortgage Services, LLC 19 3.31% $10,245
    INSPIRE HOME LOANS INC. 19 3.09% $10,687
    Elevations Credit Union 17 2.87% $10,112
    GROUP MORTGAGE, LLC 17 3.12% $10,957
    CITYWIDE HOME LOANS, LLC 16 3.33% $13,676
    CELEBRITY HOME LOANS, LLC 16 3.03% $11,890
    First National Bank of Omaha 16 3.06% $10,723
    HOMEBRIDGE FINANCIAL SERVICES, INC. 16 2.70% $7,485
    MOVEMENT MORTGAGE, LLC 16 3.15% $8,573
    HOME MORTGAGE ALLIANCE, LLC 16 3.24% $12,630
    Bank of England 14 3.18% $11,608
    BOKF 14 3.01% $11,266
    First Western Trust Bank 14 2.58% $7,629
    MORTGAGE SOLUTIONS OF COLORADO, LLC 12 3.18% $11,753
    NOVA FINANCIAL & INVESTMENT CORPORATION 12 2.97% $7,385
    AMERICAN FINANCIAL NETWORK, INC. 11 3.25% $12,502
    AmeriHome Mortgage Company, LLC 11 2.83% $6,095
    Bank of Colorado 11 3.23% $10,598
    Hometown Lenders, Inc. 10 3.08% $12,799
    InterContinental Capital Group, Inc 9 2.53% $9,298
    Commerce Home Mortgage, Inc. 9 3.15% $11,338
    SOUTHWEST FUNDING, LP 8 3.23% $11,993
    THRIVE MORTGAGE, LLC 8 3.09% $12,092
    AMERISAVE MORTGAGE CORPORATION 8 2.81% $10,235
    SUN WEST MORTGAGE COMPANY, INC. 7 2.73% $9,150
    LOANPAL, LLC 7 2.63% $11,999
    SECURITYNATIONAL MORTGAGE COMPANY 7 3.07% $11,893
    Equity Prime Mortgage LLC 7 3.27% $8,332
    CMG MORTGAGE, INC. 7 2.95% $10,178
    AMCAP MORTGAGE, LTD. 7 3.82% $9,488
    Network Funding, L.P. 7 3.00% $13,002
    Century Mortgage Company DBA Century Lending Company 7 2.88% $8,497
    NBH Bank 6 3.06% $9,418
    First Guaranty Mortgage Corporation 6 2.65% $7,055
    MOUNTAIN WEST FINANCIAL, INC. 6 3.23% $11,860
    EVERETT FINANCIAL, INC. 6 3.04% $9,160
    The Federal Savings Bank 6 3.17% $8,093
    GUARANTEED RATE AFFINITY, LLC 6 2.90% $11,665
    ALL WESTERN MORTGAGE, INC. 6 3.33% $12,291
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 3.88% $11,562
    CHURCHILL MORTGAGE CORPORATION 5 2.98% $10,293
    PLAZA HOME MORTGAGE, INC. 5 2.65% $7,567
    KBHS HOME LOANS, LLC 5 3.40% $15,370
    Financial Funding Solutions, Inc. 5 3.25% $11,719
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 5 3.55% $11,878
    Flagstar Bank, FSB 4 2.60% $7,707
    STEARNS LENDING, LLC 4 2.75% $9,934
    HOMESIDE FINANCIAL, LLC 4 2.97% $11,817
    SUMMIT FUNDING, INC. 4 3.41% $12,148
    SWBC MORTGAGE CORPORATION 4 2.97% $8,355
    IDEAL HOME LOANS LLC 4 2.78% $10,196
    J. VIRGIL, INC. 4 2.72% $11,488
    Colten Mortgage, LLC 4 3.06% $12,604
    LEADERONE FINANCIAL CORPORATION 4 2.63% $8,825
    NEST HOME LENDING, LLC 4 3.16% $10,648
    AMERICAN PACIFIC MORTGAGE CORPORATION 4 2.63% $12,672
    NATIONS DIRECT MORTGAGE, LLC 3 3.33% $10,670
    OCMBC, INC. 3 3.04% $12,286
    MID AMERICA MORTGAGE, INC. 3 4.04% $8,860
    V.I.P. MORTGAGE, INC. 3 3.21% $13,008
    BAY EQUITY LLC 3 3.42% $12,013
    PANORAMA MORTGAGE GROUP, LLC 3 3.17% $12,509
    American Mortgage & Equity Consultants, Inc. 3 2.96% $9,886
    M2 Lending Solutions, LLC 3 3.33% $13,891
    AMERICAN FINANCIAL RESOURCES, INC. 3 3.67% $13,539
    JPMorgan Chase Bank 3 2.91% $9,233
    Independent Bank 3 3.25% $10,430
    NP, Inc. 3 2.96% $10,065
    ARC HOME LLC 3 2.75% $14,156
    TOWNE MORTGAGE COMPANY 3 3.13% $7,659
    FIRST CENTENNIAL MORTGAGE CORPORATION 2 3.38% $11,011
    First Home Bank 2 2.88% $10,275
    FIRST NATIONS HOME FINANCE CORPORATION 2 2.69% $7,812
    Franklin Loan Corporation 2 3.13% $11,488
    HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 3.13% $10,532
    DRAPER AND KRAMER MORTGAGE CORP. 2 3.31% $11,887
    DIRECTORS MORTGAGE, INC. 2 3.13% $11,967
    Hometown Equity Mortgage, LLC 2 3.81% $9,889
    JLB CORPORATION 2 2.88% $8,271
    LAND HOME FINANCIAL SERVICES, INC. 2 2.38% $7,929
    Magnolia Bank 2 3.06% $11,213
    MUTUAL OF OMAHA MORTGAGE, INC. 2 2.44% $8,109
    Bank of the West 2 3.63% $9,305
    NFM, INC. 2 3.38% $11,398
    ZILLOW HOME LOANS, LLC 2 3.00% $9,494
    PARTNERS UNITED FINANCIAL, LLC 2 2.88% $9,152
    RESIDENTIAL BANCORP. 2 3.19% $14,591
    Residential Mortgage Solutions, Inc. 2 2.75% $9,193
    SOVEREIGN LENDING GROUP INCORPORATED 2 2.50% $12,257
    Sunflower Bank 2 2.88% $11,585
    TOP FLITE FINANCIAL, INC. 2 3.25% $18,745
    Peoples Bank 1 3.75% $9,927
    PHH Mortgage Corporation 1 2.50% $10,239
    MICHIGAN MUTUAL, INC. 1 2.75% $8,412
    CLEARPATH LENDING 1 3.25% $4,875
    LOANLEADERS OF AMERICA, INC. 1 3.13% $16,123
    KELLER MORTGAGE, LLC 1 3.13% $9,959
    Prosperity Home Mortgage, LLC 1 3.50% $10,790
    JMAC LENDING, INC. 1 3.00% $7,960
    Waterstone Mortgage Corporation 1 3.38% $12,507
    Wells Fargo Bank 1 3.00% $9,251
    DIRECT MORTGAGE, CORP. 1 2.50% $8,740
    EAGLE HOME MORTGAGE, LLC 1 3.00% $12,517
    EMM LOANS LLC 1 2.88% $14,157
    SOUTHWEST STAGE FUNDING, LLC 1 3.75% $12,442
    WESTERN EXPRESS LENDING 1 3.25% $7,086
    Ent Credit Union 1 3.88% $11,381
    Strong Home Mortgage, LLC 1 2.50% $6,565
    GUARANTY HOME MORTGAGE CORPORATION 1 2.88% $7,688
    Summit Mortgage Corporation 1 3.63% $15,759
    WESTERRA CREDIT UNION 1 2.75% $7,245
    GUARANTEED RATE, INC. 1 2.38% $5,822
    GSF Mortgage Corporation 1 2.50% $10,798
    T2 FINANCIAL LLC 1 3.13% $16,964
    Glacier Bank 1 3.13% $7,566
    The Home Loan Expert LLC 1 2.75% $8,938
    GENEVA FINANCIAL, LLC 1 4.25% $7,961
    FirstBank 1 2.38% $6,624
    FAY SERVICING, LLC 1 3.00% $2,546
    UNION HOME MORTGAGE CORP. 1 3.75% $10,051
    UNITED SECURITY FINANCIAL CORP 1 2.88% $4,288
    Florida Capital Bank 1 2.25% $9,289
    Flanagan State Bank 1 3.88% $15,251
    U.S. Bank 1 2.50% $8,888
    FBC MORTGAGE, LLC 1 2.75% $8,457
    First Federal Bank 1 2.88% $9,951
    FIRST COLONY MORTGAGE CORPORATION 1 3.25% $9,962
    OCEANSIDE MORTGAGE COMPANY 1 2.75% $5,406
    NETWORK CAPITAL FUNDING CORPORATION 1 3.75% $10,907
    Barrington Bank & Trust Company, N.A. 1 2.88% $12,066
    BECKAM FUNDING CORP. 1 3.25% $8,597
    Wallick & Volk, Inc. 1 3.75% $17,696
    MORIA DEVELOPMENT, INC. 1 3.13% $8,168

    The top Greeley FHA lender as defined by loan originations is AMERICAN FINANCING CORPORATION, with 290 FHA loans originated. Their average total fees are $9,853, which is $2,220 lower than the next largest lender, PRIMARY RESIDENTIAL MORTGAGE, INC..

    The lowest fee Greeley FHA lenders (with over 10 loans originated) are VILLAGE CAPITAL & INVESTMENT LLC ($4,111), Mr. Cooper ( Nationstar Mortgage ) ($5,787), CHERRY CREEK MORTGAGE, LLC ($5,791), Lakeview Community Capital, LLC ($5,808) and AmeriHome Mortgage Company, LLC ($6,095).

    The lowest rate Greeley FHA lenders (with over 10 loans originated) are First Western Trust Bank (2.58%), FREEDOM MORTGAGE CORPORATION (2.62%), QUICKEN LOANS, LLC (2.64%), UNITED WHOLESALE MORTGAGE, LLC (2.68%) and HOME POINT FINANCIAL CORPORATION (2.69%).

    Greeley FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    GREELEY, CO WELD 2022 $483,000 $618,300 $747,400 $928,850

    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).