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Colorado FHA Loans

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Learn About The 2018 Colorado FHA Loan Requirements

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Our goal is to provide you with all of the information and tools you need in order to determine if a FHA loan is right for you. On this page, you can learn about the advantages of FHA loans in Colorado, view the 2018 FHA loan guidelines, view maximum loan limits by county, and calculate your monthly payment.  The guidelines include the FHA requirements related to credit history, employment, and the type of property you want to purchase.  After reading the loan requirements, you can use our detailed FHA calculator, which will allow you to see an estimate of what your monthly payment, mortgage insurance, and monthly escrow will be.

2018 Colorado FHA Loan Requirements

Keep in mind that each application is looked at individually, and FHA loans have a considerable amount of leniency in what is required. There are some concrete loan requirements set out by the FHA, which dictates what loans they will insure. The following information is written in the context of buying a home with a FHA loan. If you already have a FHA loan, or if you wish to refinance into a FHA loan, please click here to learn about FHA refinancing.

The mandatory Colorado FHA loan requirements for a home purchase are as follows:

  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. The FHA does not insure investment properties. Multifamily homes are allowed, which can have up to 4 units, but you must occupy at least one of them for it to be eligible for a FHA loan in Colorado.
  • Credit Score – A credit score of 580 or higher is needed for FHA loans.  This includes first time home buyer mortgages, repeat buyer loans, and any FHA refinance program.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistency of income.
  • Income Documentation – Paystubs and tax returns are required to show employment income, as well as bank statements, including your checking or savings accounts.
  • DTI Ratio – Your monthly debts, including your new mortgage payment, must not exceed 43% of your bring home income.  What you want to do is calculate all of your current monthly debts (do not include anything that does not show on your credit report – only those that appear on a credit report are counted).  Then, take the total of your current debts, plus what your expected new mortgage payment, and get a total.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  Use the calculator below to see what your estimated mortgage insurance costs will be.

Colorado FHA Loan Calculator

You can calculate your new FHA payment below. Not sure what your FHA interest rate will be?  We can provide you with a free consultation and rate quote.

FHA Mortgage Calculator


Total Monthly Payment


FHA base loan amount$0
FHA upfront MIP 1.75%$0
FHA total loan amount$0
Principal & interest$0
FHA MIP 0%$0
Monthly escrow$0
Down payment0%

  • Price of Home – Enter the price of the home you want to buy. If you do not have a home in mind yet, just add in a number in the range you expect to want to buy a home for.
  • Mortgage – The second field titled “mortgage”, is by default on a 30 year fixed loan schedule.  This is the most common loan repayment schedule selected for FHA loans.  You can change it to 20 years, 15 years, or 10 years if you want a shorter loan amortization.
  • Interest Rate – The interest rate a borrower receives depends on their credit, income, and other qualifying factors.  To get an actual rate quote, you will need to speak with a licensed loan officer.  You can call 1-800-731-3560 to speak with a loan specialist and receive a rate quote.
  • Down Payment – FHA loans require a 3.5% down payment.  If you would like to put more down, add in more into the down payment field.  Please note that not everyone will qualify for a 3.5% down payment, and of course, not all applicants are approved for a loan at all.  The 3.5% is the amount that many FHA loan applicants will be allowed as a minimum down payment.
  • Property Taxes – Add the annual taxes for the home you want to buy.  To find out how much the annual property taxes are, check with the county accessor.  You can also ask a real estate agent to help you find out what the exact annual property taxes are for a home you are interested in.
  • Annual Insurance – The amount that the annual homeowners insurance will cost depends on the property you intend to buy, your homeowners insurance claim history (if you have owned a home before, and had to make a claim), and the specific homeowners insurance company that you select to insure your home.
  • Down Payment – This is the percentage that is calculated based upon the home purchase price and the down payment amount.

After summiting information into these fields, it will calculate how much the FHA mortgage payment will be based upon these numbers.  The next set of data presented on the right side and shows under the total monthly payment is as follows:

  • FHA Base Loan Amount -This is the amount of your loan after subtracting your down payment from the total, but prior to adding in the FHA upfront mortgage insurance premium (UPMIP).
  • FHA Upfront MIP – All FHA loans require a 1.75% upfront mortgage insurance premium to be paid. This is calculated from the base loan amount. This 1.75% is the same for any borrower and on any type of FHA loan. It does not vary from one FHA lender to another.
  • FHA Total Loan Amount – This is the combined total of your FHA base loan amount (after subtracting the down payment), along with the FHA UPMIP. You have the option to pay the FHA UPMIP amount out of pocket, or you can wrap it into the loan amount.  Most decide to include it in the loan amount, so we have it automatically added on the calculator.
  • Principle and Interest – This is the amount of your mortgage payment before adding mortgage insurance, and property taxes, and property insurance.
  • FHA MIP – This is the monthly mortgage insurance premiums required on all FHA loans.   The amount depends on the type of loan, how many years the repayment schedule is (such as 15 years or 30 years), and the loan-to-value (LTV) ratio.  A 15 year loan with a LTV less than 90%, the monthly MIP will be 0.45%.  A 15 year loan with a LTV greater than 90%, the monthly MIP will be 0.70%.  For a 30 year loan with a LTV less than 95% the monthly MIP is 0.80%.  For a 30 year loan with a LTV greater than 95%, the monthly MIP is 0.85%.
  • Monthly Escrow – This is how much your property taxes and property insurance is after taking the annual amounts and dividing them by 12 monthly payments.

Would you like to receive more information or apply for an FHA loan?

2018 Colorado FHA Loan Limits

You can view the loan limits for your county below.  The FHA loan limits were updated in 2018 for nearly every county in Colorado.

County Single Family 2 Family 3 Family 4 Family
ADAMS COUNTY $529,000 $677,200 $818,600 $1,017,300
ALAMOSA COUNTY $294,515 $377,075 $455,800 $566,425
ARAPAHOE COUNTY $529,000 $677,200 $818,600 $1,017,300
ARCHULETTA COUNTY $294,515 $377,075 $455,800 $566,425
BACA COUNTY $294,515 $377,075 $455,800 $566,425
BENT COUNTY $294,515 $377,075 $455,800 $566,425
BOULDER COUNTY $578,450 $740,500 $895,100 $1,112,400
BROOMFIELD COUNTY $529,000 $677,200 $818,600 $1,017,300
CHAFFEE COUNTY $301,300 $385,700 $466,250 $579,400
CHEYENNE COUNTY $294,515 $377,075 $455,800 $566,425
CLEAR CREEK COUNTY $529,000 $677,200 $818,600 $1,017,300
CONEJOS COUNTY $294,515 $377,075 $455,800 $566,425
COSTILLA COUNTY $294,515 $377,075 $455,800 $566,425
CROWLEY COUNTY $294,515 $377,075 $455,800 $566,425
CUSTER COUNTY $294,515 $377,075 $455,800 $566,425
DELTA COUNTY $294,515 $377,075 $455,800 $566,425
DENVER COUNTY $529,000 $677,200 $818,600 $1,017,300
DOLORES COUNTY $294,515 $377,075 $455,800 $566,425
DOUGLAS COUNTY $529,000 $677,200 $818,600 $1,017,300
EAGLE COUNTY $679,650 $870,225 $1,051,875 $1,307,175
EL PASO COUNTY $304,750 $390,100 $471,550 $586,050
ELBERT COUNTY $529,000 $677,200 $818,600 $1,017,300
FREMONT COUNTY $294,515 $377,075 $455,800 $566,425
GARFIELD COUNTY $679,650 $870,225 $1,051,875 $1,307,175
GILPIN COUNTY $529,000 $677,200 $818,600 $1,017,300
GRAND COUNTY $373,750 $478,450 $578,350 $718,750
GUNNISON COUNTY $357,650 $457,850 $553,450 $687,800
HINSDALE COUNTY $427,800 $547,650 $662,000 $948,750
HUERFANO COUNTY $294,515 $377,075 $455,800 $566,425
JACKSON COUNTY $294,515 $377,075 $455,800 $566,425
JEFFERSON COUNTY $529,000 $677,200 $818,600 $1,017,300
KIOWA COUNTY $294,515 $377,075 $455,800 $566,425
KIT CARSON COUNTY $294,515 $377,075 $455,800 $566,425
LA PLATA COUNTY $391,000 $500,550 $605,050 $751,900
LAKE COUNTY $294,515 $377,075 $455,800 $566,425
LARIMER COUNTY $402,500 $515,250 $622,850 $774,050
LAS ANIMAS COUNTY $294,515 $377,075 $455,800 $566,425
LINCOLN COUNTY $294,515 $377,075 $455,800 $566,425
LOGAN COUNTY $294,515 $377,075 $455,800 $566,425
MESA COUNTY $294,515 $377,075 $455,800 $566,425
MINERAL COUNTY $294,515 $377,075 $455,800 $566,425
MOFFAT COUNTY $294,515 $377,075 $455,800 $566,425
MONTEZUMA COUNTY $294,515 $377,075 $455,800 $566,425
MONTROSE COUNTY $294,515 $377,075 $455,800 $566,425
MORGAN COUNTY $294,515 $377,075 $455,800 $566,425
OTERO COUNTY $294,515 $377,075 $455,800 $566,425
OURAY COUNTY $425,500 $544,700 $658,450 $818,250
PARK COUNTY $529,000 $677,200 $818,600 $1,017,300
PHILLIPS COUNTY $294,515 $377,075 $455,800 $566,425
PITKIN COUNTY $679,650 $870,225 $1,051,875 $1,307,175
PROWERS COUNTY $294,515 $377,075 $455,800 $566,425
PUEBLO COUNTY $294,515 $377,075 $455,800 $566,425
RIO BLANCO COUNTY $294,515 $377,075 $455,800 $566,425
RIO GRANDE COUNTY $294,515 $377,075 $455,800 $566,425
ROUTT COUNTY $634,800 $812,650 $982,300 $1,220,800
SAGUACHE COUNTY $294,515 $377,075 $455,800 $566,425
SAN JUAN COUNTY $294,515 $377,075 $455,800 $566,425
SAN MIGUEL COUNTY $679,650 $870,225 $1,051,875 $1,307,175
SEDGWICK COUNTY $294,515 $377,075 $455,800 $566,425
SUMMIT COUNTY $679,650 $870,225 $1,051,875 $1,307,175
TELLER COUNTY $304,750 $390,100 $471,550 $586,050
WASHINGTON COUNTY $294,515 $377,075 $455,800 $566,425
WELD COUNTY $358,800 $459,300 $555,200 $690,000
YUMA COUNTY $294,515 $377,075 $455,800 $566,425

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