Steamboat Springs FHA Loan Rates, Closing Costs & Stats

Steamboat Springs, 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.

    Steamboat Springs's 11 lenders originated 20 FHA loans during 2024. The total origination value was $8,320,000, with an average FHA loan value of $416,000.

    Steamboat Springs FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Steamboat Springs averaged 6.99% for the week of 2025-05-23, compared to the national average (all FHA variants) of 6.612% for the same period.

    Steamboat Springs's average FHA mortgage closing costs are $10,812.

    The average rate for the prior week (2025-05-16) was 6.82% and one month ago for the week of 2025-04-18, the average rate was 6.94%.

    The average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-05-23, the average rate was 6.61%.

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

    Steamboat Springs 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 Steamboat Springs level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 3 6.04% $19,268
    AMERICAN FINANCING CORPORATION 2 5.43% $15,511
    CROSSCOUNTRY MORTGAGE, LLC 2 6.25% $14,741
    Franklin Loan Corporation 2 6.75% $16,310
    MUTUAL OF OMAHA MORTGAGE, INC. 2 7.00% $30,268
    MEGASTAR FINANCIAL CORP. 1 5.63% $13,472
    AMERISAVE MORTGAGE CORPORATION 1 5.50% $19,584
    NFM, INC. 1 7.13% $16,733
    Bank of England 1 6.63% $14,457
    PENNYMAC LOAN SERVICES, LLC 1 5.50% $21,526
    QUICKEN LOANS, LLC 1 5.99% $5,066

    The top Steamboat Springs FHA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 3 FHA loans originated. Their average total fees are $19,268, which is $3,757 higher than the next largest lender, AMERICAN FINANCING CORPORATION.

    The lowest fee Steamboat Springs FHA lenders (with over 10 loans originated) are .

    The lowest rate Steamboat Springs FHA lenders (with over 10 loans originated) are .

    Steamboat Springs FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    STEAMBOAT SPRINGS, CO ROUTT 2021 $678,500 $868,600 $1,049,950 $1,304,850
    STEAMBOAT SPRINGS, CO ROUTT 2023 $845,250 $1,082,100 $1,308,000 $1,625,500

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Steamboat Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $499,000 (1.3%) $1,023,248 (14.8%) 0.00 434
    2018-02-01 $489,750 (-1.1%) $1,026,993 (14.1%) 0.00 440
    2018-03-01 $499,000 (1.3%) $1,076,057 (22.0%) 0.00 443
    2018-04-01 $477,000 (-3.6%) $1,060,942 (21.0%) 0.00 453
    2018-05-01 $452,500 (-7.6%) $1,021,673 (21.5%) 0.00 476
    2018-06-01 $449,000 (-7.8%) $1,002,526 (18.4%) 0.00 554
    2018-07-01 $452,500 (-0.8%) $1,008,811 (19.5%) 0.00 614
    2018-08-01 $449,000 (2.2%) $990,763 (16.9%) 0.00 632
    2018-09-01 $465,000 (3.3%) $1,028,938 (13.8%) 0.00 598
    2018-10-01 $494,750 (3.5%) $1,046,490 (11.2%) 0.00 570
    2018-11-01 $526,000 (16.9%) $1,065,930 (15.4%) 0.00 534
    2018-12-01 $516,450 (9.9%) $1,072,428 (10.7%) 0.00 515
    2019-01-01 $508,750 (2.0%) $1,063,244 (3.9%) 0.00 501
    2019-02-01 $499,000 (1.9%) $1,034,564 (0.7%) 0.00 504
    2019-03-01 $498,143 (-0.2%) $1,035,351 (-3.8%) 0.00 503
    2019-04-01 $495,750 (3.9%) $1,033,038 (-2.6%) 0.00 510
    2019-05-01 $499,000 (10.3%) $1,031,364 (1.0%) 0.00 515
    2019-06-01 $517,000 (15.1%) $1,009,671 (0.7%) 0.00 604
    2019-07-01 $530,625 (17.3%) $1,022,587 (1.4%) 0.00 672
    2019-08-01 $509,545 (13.5%) $1,022,456 (3.2%) 0.00 655
    2019-09-01 $501,364 (7.8%) $1,044,780 (1.5%) 0.00 609
    2019-10-01 $498,134 (0.7%) $1,069,926 (2.2%) 0.00 568
    2019-11-01 $464,500 (-11.7%) $1,071,133 (0.5%) 0.00 522
    2019-12-01 $483,625 (-6.4%) $1,119,472 (4.4%) 0.00 491
    2020-01-01 $435,000 (-14.5%) $1,110,856 (4.5%) 0.00 385
    2020-02-01 $415,000 (-16.8%) $1,043,377 (0.9%) 0.00 385
    2020-03-01 $437,000 (-12.3%) $958,415 (-7.4%) 0.00 421
    2020-04-01 $419,500 (-15.4%) $912,893 (-11.6%) 0.00 431
    2020-05-01 $399,000 (-20.0%) $842,926 (-18.3%) 0.00 460
    2020-06-01 $399,900 (-22.7%) $846,368 (-16.2%) 0.00 534
    2020-07-01 $386,000 (-27.3%) $883,895 (-13.6%) 0.00 520
    2020-08-01 $338,250 (-33.6%) $898,595 (-12.1%) 0.00 454
    2020-09-01 $341,250 (-31.9%) $930,365 (-11.0%) 0.00 428
    2020-10-01 $329,000 (-34.0%) $921,918 (-13.8%) 0.00 398
    2020-11-01 $388,750 (-16.3%) $971,255 (-9.3%) 0.00 330
    2020-12-01 $391,250 (-19.1%) $1,050,469 (-6.2%) 0.00 292
    2021-01-01 $372,143 (-14.5%) $1,130,943 (1.8%) 0.00 243
    2021-02-01 $397,500 (-4.2%) $1,088,293 (4.3%) 0.00 241
    2021-03-01 $382,375 (-12.5%) $1,148,636 (19.9%) 0.00 238
    2021-04-01 $330,000 (-21.3%) $1,098,130 (20.3%) 0.00 220
    2021-05-01 $350,000 (-12.3%) $1,086,390 (28.9%) 0.00 241
    2021-06-01 $359,750 (-10.0%) $1,065,629 (25.9%) 0.00 239
    2021-07-01 $395,000 (2.3%) $1,106,453 (25.2%) 0.00 239
    2021-08-01 $428,000 (26.5%) $1,117,969 (24.4%) 0.00 241
    2021-09-01 $452,975 (32.7%) $1,360,096 (46.2%) 0.00 244
    2021-10-01 $452,500 (37.5%) $1,397,961 (51.6%) 0.00 223
    2021-11-01 $390,456 (0.4%) $1,541,840 (58.8%) 0.00 166
    2021-12-01 $396,156 (1.3%) $1,828,316 (74.1%) 0.00 148
    2022-01-01 $371,950 (-0.1%) $1,944,091 (71.9%) 0.00 125
    2022-02-01 $397,500 (0.0%) $1,990,883 (82.9%) 0.00 116
    2022-03-01 $516,750 (35.1%) $1,969,702 (71.5%) 0.00 119
    2022-04-01 $419,900 (27.2%) $1,615,301 (47.1%) 0.00 127
    2022-05-01 $446,000 (27.4%) $1,452,456 (33.7%) 0.00 160
    2022-06-01 $631,250 (75.5%) $1,593,861 (49.6%) 0.00 206
    2022-07-01 $779,000 (97.2%) $1,654,279 (49.5%) 0.00 259
    2022-08-01 $707,250 (65.3%) $1,430,348 (27.9%) 0.00 269
    2022-09-01 $705,000 (55.6%) $1,464,802 (7.7%) 0.00 267
    2022-10-01 $697,000 (54.0%) $1,378,454 (-1.4%) 0.00 243
    2022-11-01 $643,500 (64.8%) $1,385,459 (-10.1%) 0.00 221
    2022-12-01 $650,000 (64.1%) $1,363,795 (-25.4%) 0.00 202
    2023-01-01 $720,725 (93.8%) $1,478,431 (-24.0%) 0.00 173
    2023-02-01 $719,950 (81.1%) $1,572,692 (-21.0%) 0.00 154
    2023-03-01 $562,250 (8.8%) $1,439,811 (-26.9%) 0.00 151
    2023-04-01 $455,000 (8.4%) $1,414,209 (-12.5%) 0.00 153
    2023-05-01 $492,100 (10.3%) $1,335,634 (-8.0%) 0.00 167
    2023-06-01 $592,000 (-6.2%) $1,489,811 (-6.5%) 0.00 214
    2023-07-01 $649,950 (-16.6%) $1,625,942 (-1.7%) 0.00 255
    2023-08-01 $672,500 (-4.9%) $1,517,563 (6.1%) 0.00 272
    2023-09-01 $750,000 (6.4%) $1,652,018 (12.8%) 0.00 254
    2023-10-01 $795,000 (14.1%) $1,647,811 (19.5%) 0.00 225
    2023-11-01 $870,000 (35.2%) $1,746,767 (26.1%) 0.00 209
    2023-12-01 $940,000 (44.6%) $1,921,814 (40.9%) 0.00 194
    2024-01-01 $1,132,500 (57.1%) $2,063,102 (39.6%) 0.00 160
    2024-02-01 $1,171,000 (62.7%) $2,118,186 (34.7%) 0.00 148
    2024-03-01 $1,325,000 (135.7%) $2,020,336 (40.3%) 0.00 140
    2024-04-01 $870,500 (91.3%) $2,021,547 (43.0%) 0.00 103
    2024-05-01 $934,725 (90.0%) $1,940,220 (45.3%) 0.00 165
    2024-06-01 $1,095,000 (85.0%) $1,984,251 (33.2%) 0.00 251
    2024-07-01 $1,055,750 (62.4%) $2,070,960 (27.4%) 0.00 349
    2024-08-01 $999,999 (48.7%) $2,017,842 (33.0%) 0.00 360
    2024-09-01 $1,055,000 (40.7%) $2,018,870 (22.2%) 0.00 337
    2024-10-01 $962,250 (21.0%) $1,913,828 (16.1%) 0.00 312
    2024-11-01 $949,000 (9.1%) $1,971,103 (12.8%) 0.00 259
    2024-12-01 $973,750 (3.6%) $2,141,135 (11.4%) 0.00 247
    2025-01-01 $1,198,150 (5.8%) $2,281,691 (10.6%) 0.00 242
    2025-02-01 $942,000 (-19.6%) $2,118,579 (0.0%) 0.00 260
    2025-03-01 $872,000 (-34.2%) $1,988,823 (-1.6%) 0.00 296
    2025-04-01 $862,250 (-1.0%) $1,920,293 (-5.0%) 0.00 317
    Steamboat Springs's median listing price for 2025-04-01 was $862,250, a difference of $-8,250 (-1.0%) versus the prior year and $-9,750 versus the prior month.

    Steamboat Springs's median listing price comes in at 0% of the national average.

    Steamboat Springs's average listing price for 2025-04-01 was $1,920,293, a difference of $-101,254 (-5.0%) versus the prior year and $-68,530 versus the prior month.

    For the 2025-04-01 period, Steamboat Springs had 317 MLS listings, a difference of 21 listings (7%) versus the prior month and 214 listings (208%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Steamboat Springs (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,135 sqft
    2018-02-01 0 days 2,134 sqft
    2018-03-01 0 days 2,140 sqft
    2018-04-01 0 days 2,078 sqft
    2018-05-01 0 days 2,075 sqft
    2018-06-01 0 days 1,996 sqft
    2018-07-01 0 days 1,992 sqft
    2018-08-01 0 days 1,987 sqft
    2018-09-01 0 days 2,016 sqft
    2018-10-01 0 days 1,998 sqft
    2018-11-01 0 days 1,994 sqft
    2018-12-01 0 days 1,917 sqft
    2019-01-01 0 days 1,926 sqft
    2019-02-01 0 days 1,769 sqft
    2019-03-01 0 days 1,767 sqft
    2019-04-01 0 days 1,790 sqft
    2019-05-01 0 days 1,928 sqft
    2019-06-01 0 days 1,990 sqft
    2019-07-01 0 days 2,022 sqft
    2019-08-01 0 days 2,036 sqft
    2019-09-01 0 days 2,061 sqft
    2019-10-01 0 days 2,095 sqft
    2019-11-01 0 days 2,168 sqft
    2019-12-01 0 days 2,179 sqft
    2020-01-01 0 days 2,186 sqft
    2020-02-01 0 days 2,192 sqft
    2020-03-01 0 days 2,150 sqft
    2020-04-01 0 days 2,038 sqft
    2020-05-01 0 days 1,990 sqft
    2020-06-01 0 days 2,025 sqft
    2020-07-01 0 days 2,008 sqft
    2020-08-01 0 days 1,967 sqft
    2020-09-01 0 days 1,994 sqft
    2020-10-01 0 days 2,015 sqft
    2020-11-01 0 days 2,056 sqft
    2020-12-01 0 days 2,259 sqft
    2021-01-01 0 days 2,267 sqft
    2021-02-01 0 days 2,165 sqft
    2021-03-01 0 days 2,155 sqft
    2021-04-01 0 days 2,147 sqft
    2021-05-01 0 days 2,052 sqft
    2021-06-01 0 days 2,012 sqft
    2021-07-01 0 days 2,054 sqft
    2021-08-01 0 days 2,070 sqft
    2021-09-01 0 days 2,014 sqft
    2021-10-01 0 days 1,977 sqft
    2021-11-01 0 days 2,028 sqft
    2021-12-01 0 days 2,124 sqft
    2022-01-01 0 days 1,925 sqft
    2022-02-01 0 days 2,068 sqft
    2022-03-01 0 days 2,280 sqft
    2022-04-01 0 days 2,000 sqft
    2022-05-01 0 days 1,940 sqft
    2022-06-01 0 days 2,014 sqft
    2022-07-01 0 days 2,116 sqft
    2022-08-01 0 days 2,114 sqft
    2022-09-01 0 days 2,101 sqft
    2022-10-01 0 days 2,010 sqft
    2022-11-01 0 days 2,010 sqft
    2022-12-01 0 days 2,004 sqft
    2023-01-01 0 days 2,002 sqft
    2023-02-01 0 days 2,043 sqft
    2023-03-01 0 days 1,960 sqft
    2023-04-01 0 days 1,814 sqft
    2023-05-01 0 days 1,845 sqft
    2023-06-01 0 days 1,940 sqft
    2023-07-01 0 days 1,969 sqft
    2023-08-01 0 days 2,032 sqft
    2023-09-01 0 days 2,118 sqft
    2023-10-01 0 days 2,154 sqft
    2023-11-01 0 days 2,122 sqft
    2023-12-01 0 days 2,196 sqft
    2024-01-01 0 days 2,295 sqft
    2024-02-01 0 days 2,322 sqft
    2024-03-01 0 days 2,191 sqft
    2024-04-01 0 days 2,130 sqft
    2024-05-01 0 days 1,891 sqft
    2024-06-01 0 days 1,953 sqft
    2024-07-01 0 days 1,877 sqft
    2024-08-01 0 days 1,775 sqft
    2024-09-01 0 days 1,816 sqft
    2024-10-01 0 days 1,800 sqft
    2024-11-01 0 days 1,861 sqft
    2024-12-01 0 days 1,829 sqft
    2025-01-01 0 days 1,828 sqft
    2025-02-01 0 days 1,728 sqft
    2025-03-01 0 days 1,578 sqft
    2025-04-01 0 days 1,612 sqft
    Steamboat Springs's median listing age (time on market) for 2025-04-01 was 0 days.

    Steamboat Springs's median square footage for active listings during the 2025-04-01 period was 1,612 sqft. One year prior, the average listing was 2,130 sqft.

    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).