Pueblo FHA Loans

PUEBLO, 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.

    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).