Pueblo FHA Loans
PUEBLO, 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.
Pueblo's 135 lenders originated 1,597 FHA
loans during 2021. The total origination value was $352,485,000, with an average FHA loan value of
$220,717.
Pueblo FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Pueblo
averaged
5.06%
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
5.27% and
one month ago for the week of 2022-04-15, the
average rate was 4.96%.
The average rate one year ago was 2.93%.
For refis of the same type during the week of 2022-05-20, the average rate
was 5.1%.
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.
Pueblo 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 Pueblo level.
Name |
# of Loans |
2021 Avg. 30yFix Rate |
2021 Avg. Total Fees |
QUICKEN LOANS, LLC
|
112
|
2.68%
|
$6,899
|
UNIVERSAL LENDING CORPORATION
|
111
|
3.13%
|
$9,170
|
THRIVE MORTGAGE, LLC
|
89
|
3.21%
|
$10,057
|
PRIMARY RESIDENTIAL MORTGAGE, INC.
|
79
|
3.04%
|
$9,245
|
FAIRWAY INDEPENDENT MORTGAGE CORPORATION
|
78
|
3.20%
|
$9,782
|
UNITED WHOLESALE MORTGAGE, LLC
|
77
|
2.70%
|
$7,344
|
Ent Credit Union
|
72
|
2.84%
|
$6,277
|
LOANDEPOT.COM, LLC
|
50
|
3.18%
|
$9,029
|
MORTGAGE SOLUTIONS OF COLORADO, LLC
|
47
|
3.31%
|
$9,455
|
PREMIER MORTGAGE SERVICES, INC.
|
36
|
2.93%
|
$8,710
|
BROKER SOLUTIONS, INC.
|
34
|
3.06%
|
$8,389
|
FINANCE OF AMERICA MORTGAGE LLC
|
32
|
3.30%
|
$9,610
|
CALIBER HOME LOANS, INC.
|
29
|
3.02%
|
$7,136
|
FREEDOM MORTGAGE CORPORATION
|
26
|
3.13%
|
$4,268
|
Midwest Mortgage Associates Corporation
|
25
|
3.02%
|
$8,587
|
AMERICAN FINANCING CORPORATION
|
24
|
2.94%
|
$8,828
|
GUILD MORTGAGE COMPANY
|
24
|
3.08%
|
$8,870
|
LAKEVIEW LOAN SERVICING, LLC
|
20
|
2.96%
|
$4,973
|
S1L, Inc.
|
18
|
3.10%
|
$9,532
|
Mr. Cooper ( Nationstar Mortgage )
|
16
|
3.23%
|
$4,359
|
PENNYMAC LOAN SERVICES, LLC
|
14
|
3.02%
|
$5,201
|
HOME POINT FINANCIAL CORPORATION
|
14
|
2.70%
|
$8,686
|
Carrington Mortgage Services, LLC
|
13
|
3.45%
|
$9,232
|
AMERICAN FINANCIAL NETWORK, INC.
|
13
|
2.98%
|
$9,793
|
NEWREZ LLC
|
11
|
2.81%
|
$6,104
|
CORNERSTONE HOME LENDING, INC.
|
10
|
3.06%
|
$9,512
|
VILLAGE CAPITAL & INVESTMENT LLC
|
8
|
3.05%
|
$3,154
|
BAY EQUITY LLC
|
8
|
3.17%
|
$9,477
|
Bank of England
|
8
|
3.03%
|
$10,394
|
NP, Inc.
|
8
|
3.17%
|
$7,963
|
NBH Bank
|
7
|
2.82%
|
$7,948
|
Northpointe Bank
|
7
|
3.27%
|
$9,735
|
Loan Simple, Inc.
|
7
|
3.25%
|
$7,930
|
AmeriHome Mortgage Company, LLC
|
7
|
2.91%
|
$4,093
|
Lakeview Community Capital, LLC
|
7
|
2.91%
|
$4,996
|
PLANET HOME LENDING, LLC
|
6
|
2.96%
|
$6,371
|
CROSSCOUNTRY MORTGAGE, LLC
|
6
|
3.21%
|
$7,377
|
ON Q FINANCIAL, INC.
|
6
|
3.02%
|
$7,662
|
THE MORTGAGE COMPANY
|
5
|
3.15%
|
$10,399
|
The Central Trust Bank
|
5
|
3.23%
|
$9,530
|
AMERISAVE MORTGAGE CORPORATION
|
5
|
2.83%
|
$7,907
|
SUN WEST MORTGAGE COMPANY, INC.
|
5
|
2.95%
|
$8,967
|
Sunflower Bank
|
5
|
3.15%
|
$9,305
|
HOMEBRIDGE FINANCIAL SERVICES, INC.
|
5
|
3.10%
|
$7,820
|
CHERRY CREEK MORTGAGE, LLC
|
5
|
3.10%
|
$4,724
|
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP
|
4
|
3.22%
|
$8,927
|
ACADEMY MORTGAGE CORPORATION
|
4
|
3.13%
|
$8,855
|
ARK-LA-TEX FINANCIAL SERVICES, LLC.
|
4
|
3.34%
|
$9,527
|
Financial Funding Solutions, Inc.
|
4
|
3.31%
|
$6,439
|
First Guaranty Mortgage Corporation
|
4
|
3.16%
|
$6,873
|
GUARANTEED RATE, INC.
|
4
|
2.69%
|
$7,828
|
MOVEMENT MORTGAGE, LLC
|
4
|
3.25%
|
$10,161
|
Trinity Oaks Mortgage, LLC
|
4
|
3.31%
|
$7,822
|
U.S. Bank
|
4
|
3.38%
|
$8,844
|
AMCAP MORTGAGE, LTD.
|
3
|
3.50%
|
$7,683
|
SOUTHWEST FUNDING, LP
|
3
|
2.17%
|
$7,709
|
GENEVA FINANCIAL, LLC
|
3
|
3.54%
|
$8,303
|
CHURCHILL MORTGAGE CORPORATION
|
3
|
2.92%
|
$9,901
|
Century Mortgage Company DBA Century Lending Company
|
3
|
2.83%
|
$6,700
|
Plains Commerce Bank
|
3
|
2.67%
|
$9,525
|
Hometown Equity Mortgage, LLC
|
3
|
3.38%
|
$7,239
|
EVERETT FINANCIAL, INC.
|
3
|
3.08%
|
$6,109
|
LOANPAL, LLC
|
3
|
2.92%
|
$6,541
|
MOUNTAIN WEST FINANCIAL, INC.
|
2
|
3.56%
|
$8,275
|
V.I.P. MORTGAGE, INC.
|
2
|
3.25%
|
$10,398
|
Glacier Bank
|
2
|
3.00%
|
$5,235
|
Amerifirst Financial, Inc.
|
2
|
3.06%
|
$6,010
|
CMG MORTGAGE, INC.
|
2
|
3.31%
|
$8,796
|
MUTUAL OF OMAHA MORTGAGE, INC.
|
2
|
3.06%
|
$6,609
|
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC
|
2
|
3.25%
|
$9,281
|
Nations Lending Corporation
|
2
|
3.13%
|
$11,588
|
RESIDENTIAL HOME FUNDING CORP.
|
2
|
2.75%
|
$10,321
|
HOMESIDE FINANCIAL, LLC
|
2
|
2.75%
|
$6,403
|
MID AMERICA MORTGAGE, INC.
|
2
|
2.94%
|
$4,895
|
SECURITYNATIONAL MORTGAGE COMPANY
|
2
|
3.06%
|
$9,842
|
Equity Prime Mortgage LLC
|
2
|
3.25%
|
$3,595
|
Hometown Lenders, Inc.
|
2
|
3.00%
|
$9,324
|
Gateway First Bank
|
2
|
3.00%
|
$8,686
|
DRAPER AND KRAMER MORTGAGE CORP.
|
2
|
3.31%
|
$10,299
|
OCEANSIDE MORTGAGE COMPANY
|
2
|
2.74%
|
$2,378
|
KELLER MORTGAGE, LLC
|
2
|
2.81%
|
$7,027
|
CONTOUR MORTGAGE CORPORATION
|
1
|
2.75%
|
$8,691
|
Peoples Bank
|
1
|
3.25%
|
$12,447
|
PHH Mortgage Corporation
|
1
|
3.13%
|
$8,657
|
PLAZA HOME MORTGAGE, INC.
|
1
|
2.99%
|
$6,356
|
CLEARPATH LENDING
|
1
|
2.75%
|
$4,978
|
CERTAINTY HOME LOANS, LLC
|
1
|
2.75%
|
$5,383
|
RELIANCE FIRST CAPITAL, LLC
|
1
|
3.00%
|
$12,407
|
RESIDENTIAL BANCORP.
|
1
|
2.88%
|
$7,340
|
Residential Mortgage Solutions, Inc.
|
1
|
3.50%
|
$9,461
|
Sierra Pacific Mortgage Company, Inc.
|
1
|
3.13%
|
$7,765
|
SIRVA MORTGAGE, INC.
|
1
|
2.38%
|
$6,742
|
SOUTHWEST STAGE FUNDING, LLC
|
1
|
3.75%
|
$2,656
|
STEARNS LENDING, LLC
|
1
|
2.63%
|
$8,626
|
CENTENNIAL LENDING, LLC
|
1
|
3.25%
|
$6,771
|
CELEBRITY HOME LOANS, LLC
|
1
|
3.00%
|
$8,357
|
SWBC MORTGAGE CORPORATION
|
1
|
3.13%
|
$7,060
|
T2 FINANCIAL LLC
|
1
|
3.38%
|
$13,221
|
1ST FINANCIAL, INC.
|
1
|
3.75%
|
$9,054
|
Barrington Bank & Trust Company, N.A.
|
1
|
2.69%
|
$6,605
|
TOP FLITE FINANCIAL, INC.
|
1
|
3.13%
|
$15,661
|
TOWNE MORTGAGE COMPANY
|
1
|
3.88%
|
$7,875
|
UNION HOME MORTGAGE CORP.
|
1
|
3.13%
|
$10,441
|
UNITED MORTGAGE CORP.
|
1
|
3.13%
|
$9,795
|
UNITED SECURITY FINANCIAL CORP
|
1
|
2.50%
|
$5,724
|
AMERICAN FINANCIAL RESOURCES, INC.
|
1
|
2.75%
|
$5,015
|
HOMEAMERICAN MORTGAGE CORPORATION
|
1
|
2.75%
|
$6,191
|
HOME MORTGAGE ALLIANCE, LLC
|
1
|
3.25%
|
$11,228
|
GUARANTEED RATE AFFINITY, LLC
|
1
|
2.88%
|
$10,052
|
HUNT MORTGAGE CORPORATION
|
1
|
3.25%
|
$5,078
|
Independent Bank
|
1
|
3.63%
|
$9,093
|
INTEGRITY MORTGAGE & FINANCIAL INCORPORATED
|
1
|
3.00%
|
$6,831
|
INTERCAP LENDING INC.
|
1
|
3.25%
|
$12,329
|
InterContinental Capital Group, Inc
|
1
|
3.25%
|
$4,389
|
JLB CORPORATION
|
1
|
2.75%
|
$6,047
|
JPMorgan Chase Bank
|
1
|
3.25%
|
$2,706
|
J. VIRGIL, INC.
|
1
|
3.25%
|
$10,598
|
LAND HOME FINANCIAL SERVICES, INC.
|
1
|
3.75%
|
$11,598
|
LEADERONE FINANCIAL CORPORATION
|
1
|
3.25%
|
$6,605
|
Franklin Loan Corporation
|
1
|
3.13%
|
$9,351
|
M2 Lending Solutions, LLC
|
1
|
2.75%
|
$8,191
|
MANN FINANCIAL INC.
|
1
|
3.00%
|
$7,300
|
Manufacturers and Traders Trust Company
|
1
|
3.13%
|
$9,088
|
Mid-Continent Funding, Inc.
|
1
|
2.63%
|
$9,359
|
Flagstar Bank, FSB
|
1
|
2.74%
|
$6,106
|
ML Mortgage Corp.
|
1
|
3.25%
|
$9,861
|
First Western Trust Bank
|
1
|
2.50%
|
$7,146
|
First Home Bank
|
1
|
3.00%
|
$12,789
|
NATIONS DIRECT MORTGAGE, LLC
|
1
|
3.25%
|
$7,844
|
NATIONS RELIABLE LENDING, LLC
|
1
|
4.25%
|
$8,410
|
NETWORK CAPITAL FUNDING CORPORATION
|
1
|
3.00%
|
$7,614
|
Elevations Credit Union
|
1
|
3.13%
|
$6,574
|
NOVA FINANCIAL & INVESTMENT CORPORATION
|
1
|
3.00%
|
$9,971
|
DIRECT MORTGAGE, CORP.
|
1
|
2.63%
|
$6,201
|
OPEN MORTGAGE, LLC
|
1
|
3.13%
|
$4,561
|
The top Pueblo FHA lender as defined by loan originations is QUICKEN LOANS, LLC, with
112 FHA loans originated. Their average total fees are
$6,899, which is $2,270
lower than the next largest lender,
UNIVERSAL LENDING CORPORATION.
The lowest fee Pueblo FHA lenders (with over 10 loans originated) are
FREEDOM MORTGAGE CORPORATION ($4,268), Mr. Cooper ( Nationstar Mortgage ) ($4,359), LAKEVIEW LOAN SERVICING, LLC ($4,973), PENNYMAC LOAN SERVICES, LLC ($5,201) and NEWREZ LLC ($6,104).
The lowest rate Pueblo FHA lenders (with over 10 loans originated) are
QUICKEN LOANS, LLC (2.68%), UNITED WHOLESALE MORTGAGE, LLC (2.70%), HOME POINT FINANCIAL CORPORATION (2.70%), NEWREZ LLC (2.81%) and Ent Credit Union (2.84%).
Pueblo FHA Loan Limits
Metro |
County |
Year |
Single Family Limit |
2 Family Limit |
3 Family Limit |
4 Family Limit |
PUEBLO, CO |
PUEBLO |
2022 |
$420,680 |
$538,650 |
$651,050 |
$809,150 |
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).