Sterling FHA Loan Rates, Closing Costs & Stats
Sterling, 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.
Sterling's 32 lenders originated 76 FHA loans during 2023. The total origination value was $16,960,000, with an average FHA loan value of $223,158.
Sterling FHA Loans, 30 Year Fixed Rates
30 Year FHA mortgages in Sterling
averaged
0.29%
for the week of 2024-11-29, compared to the national average (all FHA variants) of
0% for the same period.
Sterling's average FHA mortgage closing costs are $7,660.
The average rate for the prior week (2024-11-22) was
6.58% and
one month ago for the week of 2024-10-25, the
average rate was 6.26%.
The average rate one year ago was 7.15%.
For refis of the same type during the week of 2024-11-29, the average rate
was 0.1%.
Sterling 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 Sterling level.
The top Sterling FHA lender as defined by loan originations is Bank of Colorado, with
16 FHA loans originated. Their average total fees are
$10,726, which is $37
higher than the next largest lender,
QUICKEN LOANS, LLC.
The lowest fee Sterling FHA lenders (with over 10 loans originated) are
Bank of Colorado ($10,726), .
The lowest rate Sterling FHA lenders (with over 10 loans originated) are
Bank of Colorado (6.35%), .
Sterling FHA Loan Limits
Metro | County | Year | Single Family Limit | 2 Family Limit | 3 Family Limit | 4 Family Limit |
---|---|---|---|---|---|---|
STERLING, CO | LOGAN | 2022 | $420,680 | $538,650 | $651,050 | $809,150 |
STERLING, CO | LOGAN | 2023 | $472,030 | $604,400 | $730,525 | $907,900 |
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Sterling (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $199,425 (58.3%) | $196,739 (21.5%) | 0.00 | 30 |
2018-02-01 | $212,500 (79.4%) | $216,106 (40.2%) | 0.00 | 31 |
2018-03-01 | $199,900 (63.3%) | $196,103 (24.0%) | 0.00 | 34 |
2018-04-01 | $207,225 (41.1%) | $212,913 (16.7%) | 0.00 | 36 |
2018-05-01 | $208,250 (31.0%) | $219,266 (22.0%) | 0.00 | 40 |
2018-06-01 | $202,500 (15.8%) | $232,046 (17.3%) | 0.00 | 37 |
2018-07-01 | $198,675 (17.6%) | $214,692 (12.5%) | 0.00 | 27 |
2018-08-01 | $179,500 (13.3%) | $204,364 (11.1%) | 0.00 | 32 |
2018-09-01 | $175,000 (4.8%) | $197,047 (5.7%) | 0.00 | 34 |
2018-10-01 | $202,750 (22.5%) | $221,000 (14.7%) | 0.00 | 29 |
2018-11-01 | $192,475 (21.0%) | $217,254 (13.5%) | 0.00 | 36 |
2018-12-01 | $175,000 (-12.5%) | $199,298 (2.7%) | 0.00 | 32 |
2019-01-01 | $175,950 (-11.8%) | $207,411 (5.4%) | 0.00 | 34 |
2019-02-01 | $196,850 (-7.4%) | $205,284 (-5.0%) | 0.00 | 38 |
2019-03-01 | $189,664 (-5.1%) | $204,596 (4.3%) | 0.00 | 39 |
2019-04-01 | $186,950 (-9.8%) | $205,875 (-3.3%) | 0.00 | 43 |
2019-05-01 | $180,000 (-13.6%) | $208,898 (-4.7%) | 0.00 | 42 |
2019-06-01 | $175,000 (-13.6%) | $206,475 (-11.0%) | 0.00 | 49 |
2019-07-01 | $164,875 (-17.0%) | $186,586 (-13.1%) | 0.00 | 48 |
2019-08-01 | $178,418 (-0.6%) | $218,243 (6.8%) | 0.00 | 50 |
2019-09-01 | $201,245 (15.0%) | $271,158 (37.6%) | 0.00 | 46 |
2019-10-01 | $218,500 (7.8%) | $308,514 (39.6%) | 0.00 | 43 |
2019-11-01 | $220,000 (14.3%) | $310,747 (43.0%) | 0.00 | 40 |
2019-12-01 | $223,500 (27.7%) | $337,942 (69.6%) | 0.00 | 37 |
2020-01-01 | $224,500 (27.6%) | $310,846 (49.9%) | 0.00 | 37 |
2020-02-01 | $225,000 (14.3%) | $267,696 (30.4%) | 0.00 | 36 |
2020-03-01 | $234,000 (23.4%) | $266,327 (30.2%) | 0.00 | 36 |
2020-04-01 | $225,975 (20.9%) | $349,290 (69.7%) | 0.00 | 33 |
2020-05-01 | $235,000 (30.6%) | $377,033 (80.5%) | 0.00 | 30 |
2020-06-01 | $239,900 (37.1%) | $421,905 (104.3%) | 0.00 | 29 |
2020-07-01 | $211,200 (28.1%) | $393,056 (110.7%) | 0.00 | 28 |
2020-08-01 | $199,000 (11.5%) | $360,509 (65.2%) | 0.00 | 35 |
2020-09-01 | $214,000 (6.3%) | $291,631 (7.6%) | 0.00 | 38 |
2020-10-01 | $210,000 (-3.9%) | $280,164 (-9.2%) | 0.00 | 35 |
2020-11-01 | $216,250 (-1.7%) | $302,297 (-2.7%) | 0.00 | 28 |
2020-12-01 | $219,950 (-1.6%) | $310,776 (-8.0%) | 0.00 | 22 |
2021-01-01 | $227,400 (1.3%) | $330,596 (6.4%) | 0.00 | 20 |
2021-02-01 | $192,500 (-14.4%) | $255,887 (-4.4%) | 0.00 | 19 |
2021-03-01 | $207,500 (-11.3%) | $248,855 (-6.6%) | 0.00 | 20 |
2021-04-01 | $192,000 (-15.0%) | $254,463 (-27.2%) | 0.00 | 16 |
2021-05-01 | $249,900 (6.3%) | $282,565 (-25.1%) | 0.00 | 13 |
2021-06-01 | $257,975 (7.5%) | $277,453 (-34.2%) | 0.00 | 16 |
2021-07-01 | $249,450 (18.1%) | $267,488 (-32.0%) | 0.00 | 27 |
2021-08-01 | $249,975 (25.6%) | $293,301 (-18.6%) | 0.00 | 31 |
2021-09-01 | $248,125 (16.0%) | $309,554 (6.2%) | 0.00 | 29 |
2021-10-01 | $254,000 (21.0%) | $329,329 (17.6%) | 0.00 | 29 |
2021-11-01 | $199,450 (-7.8%) | $388,655 (28.6%) | 0.00 | 32 |
2021-12-01 | $224,975 (2.3%) | $309,953 (-0.3%) | 0.00 | 51 |
2022-01-01 | $202,500 (-11.0%) | $247,893 (-25.0%) | 0.00 | 25 |
2022-02-01 | $188,350 (-2.2%) | $225,144 (-12.0%) | 0.00 | 25 |
2022-03-01 | $181,875 (-12.4%) | $231,882 (-6.8%) | 0.00 | 27 |
2022-04-01 | $197,200 (2.7%) | $256,363 (0.8%) | 0.00 | 18 |
2022-05-01 | $232,000 (-7.2%) | $286,865 (1.5%) | 0.00 | 20 |
2022-06-01 | $231,250 (-10.4%) | $309,099 (11.4%) | 0.00 | 33 |
2022-07-01 | $225,000 (-9.8%) | $290,584 (8.6%) | 0.00 | 51 |
2022-08-01 | $228,061 (-8.8%) | $291,925 (-0.5%) | 0.00 | 65 |
2022-09-01 | $239,500 (-3.5%) | $310,144 (0.2%) | 0.00 | 58 |
2022-10-01 | $266,950 (5.1%) | $335,974 (2.0%) | 0.00 | 61 |
2022-11-01 | $252,400 (26.6%) | $322,841 (-16.9%) | 0.00 | 65 |
2022-12-01 | $249,900 (11.1%) | $310,175 (0.1%) | 0.00 | 56 |
2023-01-01 | $259,950 (28.4%) | $350,480 (41.4%) | 0.00 | 50 |
2023-02-01 | $254,300 (35.0%) | $348,513 (54.8%) | 0.00 | 47 |
2023-03-01 | $223,500 (22.9%) | $326,806 (40.9%) | 0.00 | 49 |
2023-04-01 | $245,000 (24.2%) | $328,679 (28.2%) | 0.00 | 56 |
2023-05-01 | $249,725 (7.6%) | $349,205 (21.7%) | 0.00 | 54 |
2023-06-01 | $277,500 (20.0%) | $351,199 (13.6%) | 0.00 | 51 |
2023-07-01 | $299,000 (32.9%) | $316,996 (9.1%) | 0.00 | 59 |
2023-08-01 | $316,750 (38.9%) | $361,234 (23.7%) | 0.00 | 67 |
2023-09-01 | $311,500 (30.1%) | $361,518 (16.6%) | 0.00 | 67 |
2023-10-01 | $311,225 (16.6%) | $359,015 (6.9%) | 0.00 | 73 |
2023-11-01 | $302,475 (19.8%) | $355,750 (10.2%) | 0.00 | 73 |
2023-12-01 | $299,950 (20.0%) | $349,982 (12.8%) | 0.00 | 69 |
2024-01-01 | $311,175 (19.7%) | $329,182 (-6.1%) | 0.00 | 55 |
2024-02-01 | $298,750 (17.5%) | $319,965 (-8.2%) | 0.00 | 50 |
2024-03-01 | $289,450 (29.5%) | $326,048 (-0.2%) | 0.00 | 55 |
2024-04-01 | $297,250 (21.3%) | $367,817 (11.9%) | 0.00 | 60 |
2024-05-01 | $293,725 (17.6%) | $379,058 (8.6%) | 0.00 | 65 |
2024-06-01 | $272,000 (-2.0%) | $359,459 (2.4%) | 0.00 | 68 |
2024-07-01 | $254,950 (-14.7%) | $367,255 (15.9%) | 0.00 | 53 |
2024-08-01 | $290,000 (-8.5%) | $387,439 (7.3%) | 0.00 | 53 |
2024-09-01 | $278,975 (-10.4%) | $388,904 (7.6%) | 0.00 | 57 |
2024-10-01 | $298,875 (-4.0%) | $418,954 (16.7%) | 0.00 | 58 |
Sterling's median listing price comes in at 0% of the national average.
Sterling's average listing price for 2024-10-01 was $418,954, a difference of $59,939 (16.7%) versus the prior year and $30,050 versus the prior month.
For the 2024-10-01 period, Sterling had 58 MLS listings, a difference of 1 listings (2%) versus the prior month and -15 listings (-21%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Sterling (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,067 sqft |
2018-02-01 | 0 days | 2,060 sqft |
2018-03-01 | 0 days | 2,142 sqft |
2018-04-01 | 0 days | 2,234 sqft |
2018-05-01 | 0 days | 2,253 sqft |
2018-06-01 | 0 days | 2,231 sqft |
2018-07-01 | 0 days | 2,171 sqft |
2018-08-01 | 0 days | 2,088 sqft |
2018-09-01 | 0 days | 1,992 sqft |
2018-10-01 | 0 days | 1,954 sqft |
2018-11-01 | 0 days | 2,190 sqft |
2018-12-01 | 0 days | 2,094 sqft |
2019-01-01 | 0 days | 2,069 sqft |
2019-02-01 | 0 days | 2,042 sqft |
2019-03-01 | 0 days | 2,104 sqft |
2019-04-01 | 0 days | 2,159 sqft |
2019-05-01 | 0 days | 2,018 sqft |
2019-06-01 | 0 days | 2,020 sqft |
2019-07-01 | 0 days | 1,940 sqft |
2019-08-01 | 0 days | 1,907 sqft |
2019-09-01 | 0 days | 2,057 sqft |
2019-10-01 | 0 days | 2,157 sqft |
2019-11-01 | 0 days | 2,208 sqft |
2019-12-01 | 0 days | 2,208 sqft |
2020-01-01 | 0 days | 2,022 sqft |
2020-02-01 | 0 days | 2,195 sqft |
2020-03-01 | 0 days | 2,091 sqft |
2020-04-01 | 0 days | 1,966 sqft |
2020-05-01 | 0 days | 2,006 sqft |
2020-06-01 | 0 days | 2,301 sqft |
2020-07-01 | 0 days | 1,703 sqft |
2020-08-01 | 0 days | 1,725 sqft |
2020-09-01 | 0 days | 1,756 sqft |
2020-10-01 | 0 days | 1,725 sqft |
2020-11-01 | 0 days | 1,990 sqft |
2020-12-01 | 0 days | 2,110 sqft |
2021-01-01 | 0 days | 1,914 sqft |
2021-02-01 | 0 days | 1,490 sqft |
2021-03-01 | 0 days | 1,614 sqft |
2021-04-01 | 0 days | 1,610 sqft |
2021-05-01 | 0 days | 2,153 sqft |
2021-06-01 | 0 days | 1,940 sqft |
2021-07-01 | 0 days | 1,975 sqft |
2021-08-01 | 0 days | 2,147 sqft |
2021-09-01 | 0 days | 2,107 sqft |
2021-10-01 | 0 days | 2,115 sqft |
2021-11-01 | 0 days | 1,915 sqft |
2021-12-01 | 0 days | 1,908 sqft |
2022-01-01 | 0 days | 1,572 sqft |
2022-02-01 | 0 days | 1,624 sqft |
2022-03-01 | 0 days | 1,521 sqft |
2022-04-01 | 0 days | 1,614 sqft |
2022-05-01 | 0 days | 1,586 sqft |
2022-06-01 | 0 days | 1,546 sqft |
2022-07-01 | 0 days | 1,579 sqft |
2022-08-01 | 0 days | 1,678 sqft |
2022-09-01 | 0 days | 1,847 sqft |
2022-10-01 | 0 days | 1,866 sqft |
2022-11-01 | 0 days | 1,834 sqft |
2022-12-01 | 0 days | 1,744 sqft |
2023-01-01 | 0 days | 1,815 sqft |
2023-02-01 | 0 days | 1,729 sqft |
2023-03-01 | 0 days | 1,489 sqft |
2023-04-01 | 0 days | 1,506 sqft |
2023-05-01 | 0 days | 1,761 sqft |
2023-06-01 | 0 days | 1,817 sqft |
2023-07-01 | 0 days | 2,056 sqft |
2023-08-01 | 0 days | 2,080 sqft |
2023-09-01 | 0 days | 2,058 sqft |
2023-10-01 | 0 days | 2,007 sqft |
2023-11-01 | 0 days | 2,057 sqft |
2023-12-01 | 0 days | 2,056 sqft |
2024-01-01 | 0 days | 2,158 sqft |
2024-02-01 | 0 days | 2,092 sqft |
2024-03-01 | 0 days | 1,988 sqft |
2024-04-01 | 0 days | 2,091 sqft |
2024-05-01 | 0 days | 2,045 sqft |
2024-06-01 | 0 days | 1,975 sqft |
2024-07-01 | 0 days | 1,873 sqft |
2024-08-01 | 0 days | 1,932 sqft |
2024-09-01 | 0 days | 1,901 sqft |
2024-10-01 | 0 days | 2,074 sqft |
Sterling's median square footage for active listings during the 2024-10-01 period was 2,074 sqft. One year prior, the average listing was 2,007 sqft.