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FHA
LOANS

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COLORADO
FHA LOANS

Colorado FHA loans are an attractive option for many home buyers.
Whether you’re a first-time or a repeat homebuyer, or you need to
refinance, Houz Mortgage can help you explore FHA Loans as an
option for your real estate needs.

An FHA loan is a home loan insured by the Federal Housing
Administration (FHA).  Primarily, the federal government insures
loans for FHA-approved lenders in order to reduce their risk of loss
if a borrower defaults on their mortgage payments.

BENEFITS
OF FHA LOANS

  • Buy your primary home with as little as 3.5% down
  • Gift funds from a family member, employer, or charitable
    organization can account for up to 100% of your down
    payment
  • FICO scores as low as 580 may qualify
  • Refinance up to 97.75% of your primary home’s value
  • FHA Streamline refinance available (less documentation and often without an appraisal)
  • No prepayment penalties, pay it off anytime

FHA LOAN QUESTIONS:

HOW CAN FHA HELP ME IN BUYING A HOME?

Since the Government’s Federal Housing Administration insures FHA loan, this gives lenders the confidence to make loans to individuals who otherwise
wouldn’t qualify particularly on a conventional loan. Along with making it simpler to get approval, FHA-support additionally means that down payment
requirements are lower than they’d be for most common mortgages.

  IF I HAVE BANKRUPTCY IN THE PAST, CAN I STILL QUALIFY?

Bankruptcy doesn’t normally disqualify applicants from FHA loans, provided that you’ve got an established good payment habits since the bankruptcy.


  WHAT IS MORTGAGE INSURANCE? WHY DO I NEED HOMEOWNER’S INSURANCE IF I HAVE MORTGAGE INSURANCE?

Mortgage insurance is distinct from homeowner’s insurance. Mortgage insurance covers the lender against the chance the borrower will default on the loan. This is actually the support that provides lenders the confidence to approve loans to homeowners with significantly less than perfect credit qualifications.

Homeowner’s Insurance helps homeowners make do with all the financial effects if a house is damaged or another person is injured on the property. This is a blend of two different kinds of hazard insurance, protection, and liability insurance.

CAN I BUY AN INVESTMENT PROPERTY OR SECOND HOME WITH AN FHA LOAN?

No, FHA loan are for owner occupied property only. You must reside in the property for a minimum of one year, and have to move into the property within 60 days of closing a purchase. After this, you can alter how you make use of the property; yet, FHA typically Won’t cover more than one principal home mortgage for virtually any borrower.

 FHA LOAN LIMITS

The FHA limits the maximum loan amount that it will insure. The conventional loan limits set by Fannie Mae and Freddie Mac are computed and updated annually, and influence these loan limits. The type of residence, including single-family or duplex, may also change these numbers.

FHA LIMITS FOR 2020

LENDING LIMITS FOR FHA LOANS
IN COLORADO COUNTIES

FHA mortgage lending limits in COLORADO vary based on a variety of housing type and the cost
of local housing. FHA loans are designed for borrowers who are unable to make large down payments.

ADAMS County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
ALAMOSA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
ARAPAHOE County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
ARCHULETA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
BACA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
BENT County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
BOULDER County
BOULDER, CO
Single Duplex Tri-plex Four-plex
$664,000 $824,450 $996,550 $1,238,500
BROOMFIELD County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
CHAFFEE County
NON-METRO
Single Duplex Tri-plex Four-plex
$369,150 $427,550 $571,250 $709,900
CHEYENNE County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
CLEAR CREEK County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
CONEJOS County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
COSTILLA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
CROWLEY County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
CUSTER County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
DELTA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
DENVER County
NON-METRO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
DOLORES County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
DOUGLAS County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
EAGLE County
EDWARDS, CO
Single Duplex Tri-plex Four-plex
$765,600 $980,325 $1,184,925 $1,427,550
EL PASO County
COLORADO SPRING, CO
Single Duplex Tri-plex Four-plex
$356,500 $456,350 $551,650 $685,550
ELBERT County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
FREMONT County
CANON CITY, CO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
GARFIELD County
GLENWOOD SPRINGS, CO
Single Duplex Tri-plex Four-plex
$765,600 $980,325 $1,184,925 $1,427,550
GILPIN County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
GRAND County
NON-METRO
Single Duplex Tri-plex Four-plex
$473,800 $606,550 $733,150 $911,150
GUNNISON County
NON-METRO
Single Duplex Tri-plex Four-plex
$371,450 $475,500 $574,800 $714,350
HINSDALE County
NON-METRO
Single Duplex Tri-plex Four-plex
$427,800 $547,650 $662,000 $822,700
HUERFANO County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
JACKSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
JEFFERSON County
DENVER-AURORA-LAKEWOOD, CO
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
KIOWA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
KIT CARSON County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
LA PLATA County
DURANGO, CO
Single Duplex Tri-plex Four-plex
$422,050 $540,300 $653,100 $811,650
LAKE County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
LARIMER County
FORT COLLINS, CO
Single Duplex Tri-plex Four-plex
$454,250 $581,500 $702,900 $873,550
LAS ANIMAS County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
LINCOLN County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
LOGAN County
GRAND JUNCTION, CO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
MINERAL County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
MOFFAT County
CRAIG, CO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
MONTEZUMA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
MONTROSE County
MONTROSE, CO
Single Duplex Tri-plex Four-plex
$425,500 $544,700 $658,450 $818,250
MORGAN County
FORT MORGAN, CO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
OTERO County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
OURAY County
MONTROSE, CO
Single Duplex Tri-plex Four-plex
$425,500 $544,700 $658,450 $818,250
PARK County
DENVER-AURORA-LAKEWOOD
Single Duplex Tri-plex Four-plex
$575,000 $736,100 $889,800 $1,105,800
PHILLIPS County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
PITKIN County
GLENWOOD SPRINGS, CO
Single Duplex Tri-plex Four-plex
$765,600 $980,325 $1,184,925 $1,472,550
PROWERS County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
PUEBLO County
PUEBLO, CO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
RIO BLANCO County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
RIO GRANDE County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
ROUTT County
STEAMBOAT SPRINGS, CO
Single Duplex Tri-plex Four-plex
$638,250 $817,050 $987,650 $1,227,400
SAGUACHE County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
SAN JUAN County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
SAN MIGUEL County
NON-METRO
Single Duplex Tri-plex Four-plex
$765,600 $980,325 $1,184,925 $1,472,550
SEDGWICK County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
SUMMIT County
BRECKENRIDGE, CO
Single Duplex Tri-plex Four-plex
$722,200 $924,550 $1,117,550 $1,388,850
TELLER County
COLORADO SPRINGS, CO
Single Duplex Tri-plex Four-plex
$356,500 $456,350 $551,650 $685,550
WASHINGTON County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
WELD County
GREELEY, CO
Single Duplex Tri-plex Four-plex
$404,800 $518,200 $626,400 $778,450
YUMA County
NON-METRO
Single Duplex Tri-plex Four-plex
$331,760 $424,800 $513,450 $638,100
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