FHA Loans
in Colorado

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Trying to buy a home affordably without a perfect credit score or a lot of money for a down payment may feel like a challenge. But it doesn’t have to be. The FHA mortgage program was created specifically for first time homebuyers and others in this situation.

You can qualify for an FHA loan even without a perfect FICO score, and you only need to put 3.5% down on a home.


What is an FHA Loan?

The FHA loan program is a government-insured lending program backed by the Federal Housing Administration (FHA). When you take out an FHA mortgage, the Federal Housing Administration guarantees it.

Since the lender is protected should you default, you can qualify more easily for more favourable terms.

What are the Benefits of FHA Mortgages in Colorado?

Check out some of these Colorado FHA Loan advantages:

Move into a new home now without a large down payment. The down payment for an FHA loan is between 3.5% and 10%. If your score is 580 or above, you qualify for 3.5% down. If it is between 500 and 579, you qualify for 10% down.

Credit qualification for this type of loan is relaxed compared to requirements for conventional financing.

Debt-to-income (DTI) ratio requirements for an FHA mortgage are likewise not as strict.

FHA mortgages have more affordable interest rates than comparable conforming loans with no government insurance.

Closing costs, when not paid for by the seller, have a low cap.

Home purchase is not the only thing you can do with an FHA loan. You can also build a home, repair or upgrade one, or refinance a loan.

FHA loans can have fixed or adjustable mortgage rates.

Are You Eligible for a Colorado FHA Loan?

If you are excited by the prospect of a low down payment, affordable mortgage rates, and low closing costs, you are probably wondering whether you can get an FHA loan.

You do not need to be a first time homebuyer.

You must be purchasing or refinancing a primary residence, not a second home.

The minimum credit score required is 500.

Your debt-to-income (DTI) ratio must be no higher than 56.9%.

Document that you have been employed steadily for the past two years and that your professional life is stable.

A clear credit alert interactive voice response system (CAIVRS) report is a must.

Be ready to pay for private mortgage insurance (PMI) each month.

A prior bankruptcy or foreclosure does not disqualify you after the waiting period.

What Our Clients Are Saying

Clemente Galang
Clemente Galang
01:32 01 Feb 21
They were there when I needed them the most.
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Mark Thompson
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Dominic Lupori
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great people, super fast, pleasant experience
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John B
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Matthew Hayden
Matthew Hayden
01:10 23 Jan 21
I have used Front Range Mortgage for several VA mortgage refinances. Each time they provide detailed comparisons of my options. The customer service is second to none and closing is a breeze!... Victoria and Ryan had my loan closed and funded in less than 10 days!read more
rlrpjr1914
rlrpjr1914
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Derek De Poy
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Wiley Long
Wiley Long
00:14 16 Apr 20
Brian is the utmost professional. If you want no-hassle fast service and someone who will work in your interests, this is the place.
Mike Searls
Mike Searls
13:39 31 Mar 20
Front Range Mortgage does an amazing job - an advocate for their clients. The entire team is first rate and they really care. I highly recommend.
Kurt Rhea
Kurt Rhea
21:29 30 Mar 20
I know Brian personally - his work ethic and passion for helping people is above reproach and I am proud to be associated with him. - Kurt

Apply for an FHA Loan in Colorado Now

Think you might qualify for an FHA mortgage and all of its advantages? We can help you find out. To get started Click below or call (303) 500-1900 in Denver.


Get Pre-Approved in 5-Minutes!