Loan Type
FHA
LOANS
Government-backed mortgages designed to help first-time homebuyers and those with less-than-perfect credit achieve homeownership in Colorado.
Government-backed mortgages designed to help first-time homebuyers and those with less-than-perfect credit achieve homeownership in Colorado.
FHA loans have been helping Americans buy homes since 1934 and remain one of the most popular loan options in Colorado. Insured by the Federal Housing Administration, these loans offer significant advantages for qualifying borrowers.
As low as 3.5% down with a credit score of 580+, or 10% down with scores as low as 500. This makes homeownership accessible even if you haven't saved a large down payment.
More lenient credit requirements than conventional loans. Past credit issues like bankruptcy or foreclosure may be acceptable after certain waiting periods.
Your down payment can come entirely from family gifts, employer assistance programs, or grants, making it easier to buy your first home without depleting your savings.
FHA loans can be transferred to future buyers at the original interest rate, making your home more attractive to sell in a high-rate environment.
Debt-to-income ratios up to 43% (sometimes higher with compensating factors), allowing more flexibility in qualifying even with existing debt.
Because FHA loans are government-insured, lenders can offer competitive rates that are often lower than conventional loans for similar credit profiles.
FHA loans have specific requirements, but they're generally more flexible than conventional financing. Here's what you need to know to qualify.
Minimum 500 with 10% down, or 580+ for 3.5% down payment. Most lenders prefer 620+ for easier approval.
Steady employment for at least 2 years in the same line of work. Self-employment requires 2 years of tax returns.
Property must be your primary residence. FHA loans cannot be used for investment properties or vacation homes.
Upfront premium of 1.75% of loan amount plus annual premium of 0.55-0.85% depending on loan terms and down payment.
Colorado limits range from $498,257 in most counties to $726,200 in high-cost areas like Summit, Eagle, and Pitkin counties.
Property must meet FHA minimum property standards for safety, security, and structural soundness. An FHA appraisal is required.
FHA loans make homeownership accessible with down payments as low as 3.5% and flexible credit requirements. Your path to homeownership starts here.
FHA loans are ideal for specific situations. See if you fit the profile of a typical FHA borrower.
Perfect for those purchasing their first home with limited savings for a down payment.
Those working on improving their credit who may not qualify for conventional financing yet.
Buyers with limited cash reserves who want to keep money for closing costs and emergencies.
Those receiving down payment help from family members, employers, or assistance programs.
FHA isn't the only option. Licensed Colorado loan officers can help you explore all available loan types to find the best fit for your situation.
Traditional financing with competitive rates, flexible terms, and no mortgage insurance with 20% down.
Zero down payment financing exclusively for eligible veterans, active military, and qualified spouses.
Zero down financing for eligible rural and suburban areas with income requirements.
Financing for luxury homes exceeding $766,550 conforming loan limits.
Explore unique financing solutions designed for specific situations and borrower needs.
Buy your next home before selling your current property with flexible short-term financing solutions.
Specialized financing for medical professionals with flexible debt ratios and no PMI options.
Build your dream home with one-time close construction-to-permanent financing solutions.
Finance both purchase and renovations with FHA 203k and Conventional HomeStyle programs.
Financing options for warrantable and non-warrantable condominiums in Colorado communities.
Alternative financing for self-employed borrowers using bank statements or asset-based qualification.
Investment property financing based on rental income without personal income verification.
Reduce your initial mortgage payments with 2-1 and 1-0 buydown programs for easier affordability.