FHA Home Loans in Colorado
Flexible, Affordable Mortgages for First-Time Buyers and Beyond
Why Choose an FHA Loan?
FHA loans are backed by the Federal Housing Administration and offer one of the most accessible mortgage paths for homebuyers in Colorado—especially first-time buyers, those with limited savings, or lower credit scores. If you're looking to buy a home in Colorado Springs, Pueblo, or the surrounding areas, FHA loans can make homeownership achievable without the typical hurdles of conventional financing.
With just 3.5% down and flexible credit requirements, the FHA program is ideal for those who may not qualify elsewhere. At United Home Mortgage, we help you navigate every step—from pre-approval to closing—with fast, personalized service and low fees.
- Only 3.5% Down Payment Required
- Flexible Credit Score Guidelines
- Seller Can Cover Up to 6% in Closing Costs
- Great for First-Time Buyers or Low-to-Moderate Income Households
- Refinance options available—even with limited equity
Our team understands local market conditions across Colorado and will help you structure a loan that fits your budget and goals.
FHA Streamline Refinance
If you already have an FHA loan, the FHA Streamline Refinance is one of the fastest and simplest ways to reduce your mortgage payment. Designed exclusively for current FHA borrowers, this program helps you lower your interest rate or switch to a more stable loan with minimal documentation and no appraisal required.
Homeowners across Colorado—including Colorado Springs, Pueblo, and the Denver metro—trust United Home Mortgage to process FHA Streamline loans quickly and affordably. Our local expertise and hands-on approach ensure you save time and money with every step.
FHA Streamline Refinance Highlights:
- No home appraisal required
- No income or employment verification required
- Lower interest rates and monthly payments
- Close in as little as 2–3 weeks
- Minimal documentation for faster approvals
This is your chance to lock in a better rate without the red tape. Let’s streamline your savings together.
FHA Cash-Out Refinance
Need extra cash to consolidate debt, renovate your home, or handle unexpected expenses? The FHA Cash-Out Refinance lets qualified homeowners tap into their home equity—even if your credit isn’t perfect. With this program, you can refinance your existing loan and receive cash back at closing.
This program is open to both current FHA and non-FHA borrowers. It's a powerful option for homeowners in Colorado who want to make the most of their property’s value while keeping payments affordable.
FHA Cash-Out Refinance Highlights:
- Access up to 80% of your home’s value in cash
- Available for FHA and conventional loan holders
- Great for home improvements, emergencies, or debt consolidation
- Competitive fixed rates with flexible terms
- Use your equity—your way
Let’s turn your home equity into financial opportunity. We’ll walk you through it, step by step.
Frequently Asked Questions About FHA Loans
1. What is an FHA loan?
An FHA loan is a mortgage insured by the Federal Housing Administration, designed to help lower-income and first-time buyers purchase or refinance a home with less strict qualification standards.
2. How much do I need for a down payment?
FHA loans require as little as 3.5% down for buyers with a credit score of 580 or higher. Lower scores may still qualify with a higher down payment.
3. Can I use an FHA loan to buy a second home or investment property?
No. FHA loans are intended for primary residences only. You must live in the home as your primary residence within 60 days of closing.
4. What credit score is needed for an FHA loan?
Most lenders, including United Home Mortgage, accept credit scores as low as 580. Borrowers with scores between 500–579 may still qualify with 10% down.
5. Do FHA loans have mortgage insurance?
Yes. FHA loans require both an upfront mortgage insurance premium (UFMIP) and monthly mortgage insurance, regardless of down payment size.
6. Can I refinance an FHA loan?
Yes! You can refinance using the FHA Streamline Refinance or FHA Cash-Out Refinance, depending on your goals and current loan type.
7. How long does it take to close an FHA loan?
Most FHA loans close in 30 days or less. United Home Mortgage offers fast closings and local processing support right here in Colorado.
8. Are FHA loans only for first-time buyers?
No. FHA loans are available to any qualified borrower, including repeat buyers, so long as the home is a primary residence.
9. Can the seller pay my closing costs?
Yes. FHA guidelines allow the seller to contribute up to 6% of the purchase price toward closing costs, which can greatly reduce your out-of-pocket expense.
10. What types of properties are eligible?
FHA loans can be used to finance single-family homes, approved condos, townhomes, and even 2–4 unit multifamily properties if you live in one of the units.