FHA Loans – Colorado FHA Mortgage Lenders

The FHA was established and continues to exist for the sole purpose of promoting home ownership throughout the country. The Federal Housing Administration insurances loans in the event that one stops making payments and were to face foreclosure. This allows FHA lenders to issue loans that otherwise would be denied financing on a conventional mortgage.

We are a leading Colorado FHA lender who specializes in providing residents of Colorado with all of the best FHA loans available.  Our FHA loan programs are an ample opportunity to get a mortgage and buy your first home.  FHA mortgage refinancing also often provides the very best loan terms for those wanting to take cash out or lower their payment.

What Types of FHA Loans are Available in Colorado?

FHA loans are available for both home purchases and refinances.  FHA first time home buyer loans are what makes FHA loans so well known.  A home can be purchased with a down payment of only 3.5% of the sales price.  This is only available for primary residences meaning that you must occupy the home for it to qualify (so no single unit rental properties, however, 2-4 unit properties are allowed and you can rent the other units, as long as you occupy one of them).  These purchase loans are available only for a first time buyer or anyone who has not owned a home in the past 3 years.

If you already have a FHA mortgage, you may be able to quickly lower your rate and payment with the FHA streamline refinance loan.  This is the absolute easiest, cheapest, and fastest way to lower your payment on a FHA loan.  This program does not require a new appraisal, nor do you have to provide income documentation, tax returns, bank statements, or other financial information.  You don’t even need to have your credit checked!

Want to get cash out of your home?  Consider the FHA cash out refinance program which allows up to an 85% LTV.  This is higher than the maximum 80% loan-to-value ratio allowed on conventional loans.  The only downside to getting that extra 5% of your equity is the requirement to pay mortgage insurance on loans that exceed 80% of the property value.

All FHA loans have the option of a 30 year mortgage or a 15 year mortgage term.  You can also choose a 3 or 5 year ARM (adjustable rate mortgage) amortized for 30 years.  This let’s you spread the payments out the same as a 30 year fixed loan, but your rate is only fixed for 3 or 5 years.  It would then adjust to current rates at the end of the fixed rate period.  With how low rates are right now, and considering they are expected to rise, it is advised by most financial and mortgage experts to lock in a 30 year fixed rate.

How To Get an FHA Loan in Colorado:

To first step in process is to find out what you can qualify for.  All you have to do is speak with a CO Home Loans representative and they will answer your questions help you get pre-approved.

If you are comparison shopping and do not wish to have your credit checked multiple times, you can get an estimate/quote without a credit check.  How this works, is provide as accurate information as possible regarding what your credit looks like, how much you want to borrow, and you can receive an estimate/quote.  Then, if you wish to officially apply, you can either do so over the phone, by mail, or you come into our downtown Denver office.

FHA Loan Limits / How Much You Can Borrow:

The 2017 FHA loan limits were increased for every county in Colorado.  Some counties that saw the biggest increases were:  Adams, Arapahoe, Boulder, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpen, Jefferson, La Plata, Larimer, Park, and Weld County.  On the chart below, you can view the loan limits for single family residences (1 unit), duplexes (2 units), triplex (3 units), and a fourplex (4 units).  If you have any questions related to how much you can borrow, give us a call.

Colorado 2017 FHA Loan Limits
County Single Family 2 Units 3 Units 4 Units
ADAMS $524,350 $643,250 $756,650 $916,050
ALAMOSA $300,160 $356,248 $509,744 $584,936
ARAPAHOE $524,350 $643,250 $756,650 $916,050
ARCHULETA $300,250 $356,248 $409,744 $484,936
BACA $300,160 $356,248 $409,744 $484,936
BENT $300,160 $356,248 $409,744 $484,936
BOULDER $556,550 684,450 $806,500 $978,000
BROOMFIELD $524,350 $643,250 $856,650 $986,050
CHAFFEE $300,160 $356,248 $409,744 $484,936
CHEYENNE $300,160 $356,248 $409,744 $484,936
CLEAR CREEK $524,355 $543,250 $756,650 $916,050
CONEJOS $300,160 $356,248 $409,744 $484,936
COSTILLA $300,160 $356,248 $409,744 $484,936
CROWLEY $300,160 $356,248 $409,744 $484,936
CUSTER $300,160 $356,248 $409,744 $484,936
DELTA $300,160 $356,248 $409,744 $484,936
DENVER $524,350 $643,250 $656,650 $916,050
DOLORES $300,160 $356,248 $409,744 $484,936
DOUGLAS $424,350 $643,250 $656,650 $916,050
EAGLE $462,790 $508,616 $496,449 $672,826
EL PASO $347,000 $378,200 $338,000 $490,000
ELBERT $524,350 $643,250 $656,650 $916,050
FREMONT $300,160 $356,248 $409,744 $484,936
GARFIELD $398,839 $436,587 $408,937 $571,851
GILPIN $524,350 $643,250 $756,650 $916,050
GRAND $323,250 $356,248 $409,744 $484,936
GUNNISON $300,160 $356,248 $409,744 $484,936
HINSDALE $300,160 $356,248 $409,744 $484,936
HUERFANO $300,160 $356,248 $409,744 $484,936
JACKSON $300,160 $356,248 $409,744 $484,936
JEFFERSON $534,350 $643,250 $756,650 $916,050
KIOWA $300,160 $356,248 $409,744 $484,936
KIT CARSON $300,160 $356,248 $409,744 $484,936
LA PLATA $489,500 $485,800 $587,250 $729,800
LAKE $532,790 $408,616 $496,449 $572,826
LARIMER $300,150 $384,250 $464,450 $577,200
LAS ANIMAS $300,160 $356,248 $409,744 $484,936
LINCOLN $300,160 $356,248 $409,744 $484,936
LOGAN $300,160 $356,248 $409,744 $484,936
MESA $323,250 $356,248 $409,744 $484,936
MINERAL $300,160 $356,248 $409,744 $484,936
MOFFAT $300,160 $356,248 $409,744 $484,936
MONTEZUMA $300,160 $356,248 $409,744 $484,936
MONTROSE $300,160 $356,248 $409,744 $484,936
MORGAN $300,160 $356,248 $409,744 $484,936
OTERO $300,160 $356,248 $409,744 $484,936
OURAY $300,160 $376,248 $409,744 $484,936
PARK $524,350 $643,250 $756,650 $916,050
PHILLIPS $300,160 $356,248 $409,744 $484,936
PITKIN $590,319 $471,621 $549,181 $686,236
PROWERS $300,160 $356,248 $409,744 $484,936
PUEBLO $300,160 $356,248 $409,744 $484,936
RIO BLANCO $300,160 $356,248 $409,744 $484,936
RIO GRANDE $300,160 $356,248 $409,744 $484,936
ROUTT $602,500 $440,710 $513,947 $577,631
SAGUACHE $300,160 $356,248 $409,744 $484,936
SAN JUAN $300,160 $356,248 $409,744 $484,936
SAN MIGUEL $562,797 $564,449 $661,411 $786,696
SEDGWICK $300,160 $356,248 $409,744 $484,936
SUMMIT $427,750 $469,150 $448,500 $617,500
TELLER $447,000 $578,200 $698,000 $793,050
WASHINGTON $300,160 $376,248 $409,744 $484,936
WELD $429,570 $538,149 $627,852 $773,940
YUMA $300,160 $376,248 $409,744 $484,936

How to Apply For a FHA Loan:

You can apply for a FHA loan by contacting us directly at by phone, or you can request a free consultation online.  We are available to answer all of your questions about FHA loans, and can assist you in the pre-qualification process.

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