Colorado USDA Loan Rates, Closing Costs & Stats

Colorado

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Colorado USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Colorado averaged 6.2% for the week of 2024-02-16, compared to the national average (all USDA variants) of 6.685% for the same period.

Colorado's average USDA mortgage closing costs are $6,400.

The average rate for the prior week (2024-02-09) was 6.24% and one month ago for the week of 2024-01-12, the average rate was 6.16%.

The average rate one year ago was 5.59%.

For refis of the same type during the week of 2024-02-16, the average rate was 4.92%.

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

Colorado USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Colorado level.

Name # of Loans 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
AMCAP MORTGAGE, LTD. 18 4.31% $8,909
UNITED WHOLESALE MORTGAGE, LLC 18 4.00% $7,211
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 4.58% $8,890
CORNERSTONE HOME LENDING, INC. 10 5.26% $9,183
THE MORTGAGE COMPANY 10 4.64% $8,402
HOME POINT FINANCIAL CORPORATION 9 3.90% $7,352
PLAZA HOME MORTGAGE, INC. 9 3.97% $9,709
CROSSCOUNTRY MORTGAGE, LLC 9 5.21% $10,428
LOANDEPOT.COM, LLC 6 4.13% $13,576
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 3.60% $10,135
Bank of Colorado 5 4.20% $6,646
BAY EQUITY LLC 5 4.50% $8,995
NOVA FINANCIAL & INVESTMENT CORPORATION 4 5.65% $2,255
Gateway First Bank 4 4.34% $6,717
BOKF 4 4.59% $8,145
ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 5.79% $4,093
DRAPER AND KRAMER MORTGAGE CORP. 3 2.83% $8,083
ACADEMY MORTGAGE CORPORATION 3 3.79% $10,914
Northpointe Bank 3 4.63% $7,507
Amerifirst Financial, Inc. 3 4.33% $9,168
S1L, Inc. 3 4.46% $8,375
Plains Commerce Bank 2 4.00% $18,183
DHI MORTGAGE COMPANY, LTD. 2 2.44% $14,140
Loan Simple, Inc. 2 3.56% $12,167
CALIBER HOME LOANS, INC. 2 4.44% $10,487
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 5.13% $10,140
Century Mortgage Company DBA Century Lending Company 2 3.25% $11,686
Financial Funding Solutions, Inc. 2 3.75% $8,428
Paramount Residential Mortgage Group, Inc. 2 4.88% $13,426
Independent Bank 2 5.75% $10,083
Flagstar Bank, FSB 2 4.63% $4,864
Flanagan State Bank 2 5.81% $12,687
GENEVA FINANCIAL, LLC 2 4.63% $12,268
HIGHLANDS RESIDENTIAL MORTGAGE, LTD. 2 4.81% $15,181
U.S. Bank 2 5.13% $4,351
THRIVE MORTGAGE, LLC 1 3.63% $9,661
TOWNE MORTGAGE COMPANY 1 5.25% $6,304
UNION HOME MORTGAGE CORP. 1 5.25% $14,069
UNIVERSAL LENDING CORPORATION 1 3.75% $7,042
Wallick & Volk, Inc. 1 5.25% $11,008
Wells Fargo Bank 1 5.63% $7,766
Zions Bank 1 3.50% $9,770
AMERICAN FINANCIAL RESOURCES, INC. 1 5.13% $4,849
AMERICAN FINANCING CORPORATION 1 3.63% $3,540
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 4.38% $9,788
Bank of England 1 3.88% $6,299
BROKER SOLUTIONS, INC. 1 3.75% $10,759
CARDINAL FINANCIAL 1 3.13% $7,887
Carrington Mortgage Services, LLC 1 4.63% $3,943
CHERRY CREEK MORTGAGE, LLC 1 5.75% $4,495
CMG MORTGAGE, INC. 1 2.99% $7,608
Colten Mortgage, LLC 1 4.13% $6,367
DIAMOND RESIDENTIAL MORTGAGE CORPORATION 1 6.75% $9,217
DIRECT MORTGAGE LOANS, LLC 1 4.75% $11,758
Equity Prime Mortgage LLC 1 5.25% $12,856
EVERETT FINANCIAL, INC. 1 4.00% $4,852
FINANCE OF AMERICA MORTGAGE LLC 1 5.13% $9,819
First Interstate Bank 1 5.75% $8,365
First Western Trust Bank 1 4.63% $8,222
GUARANTEED RATE, INC. 1 4.38% $15,298
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 3.75% $13,165
HOMESIDE FINANCIAL, LLC 1 4.13% $6,881
LAKEVIEW LOAN SERVICING, LLC 1 3.25% $6,225
LEADERONE FINANCIAL CORPORATION 1 3.63% $7,944
MANN FINANCIAL INC. 1 3.88% $4,814
MEGASTAR FINANCIAL CORP. 1 2.50% $4,529
MICHIGAN MUTUAL, INC. 1 4.13% $7,373
MID AMERICA MORTGAGE, INC. 1 3.75% $4,655
NBH Bank 1 3.25% $10,147
NFM, INC. 1 4.13% $8,034
OPEN MORTGAGE, LLC 1 3.00% $5,819
PENNYMAC LOAN SERVICES, LLC 1 3.49% $6,967
SECURITYNATIONAL MORTGAGE COMPANY 1 4.75% $8,794
Sierra Pacific Mortgage Company, Inc. 1 6.13% $9,715
The Central Trust Bank 1 3.75% $6,458
The Federal Savings Bank 1 5.50% $7,596

The top Colorado USDA lender as defined by loan originations is AMCAP MORTGAGE, LTD., with 18 USDA loans originated. Their average total fees are $8,909, which is $1,698 higher than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee Colorado USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($7,211), THE MORTGAGE COMPANY ($8,402), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($8,890), AMCAP MORTGAGE, LTD. ($8,909) and CORNERSTONE HOME LENDING, INC. ($9,183).

The lowest rate Colorado USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (4.00%), AMCAP MORTGAGE, LTD. (4.31%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (4.58%), THE MORTGAGE COMPANY (4.64%) and CORNERSTONE HOME LENDING, INC. (5.26%).