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).