2024 has brought new developments in the housing market, particularly regarding Federal Housing Administration (FHA) loan limits in Colorado. Understanding these limits is crucial for homebuyers who are considering an FHA loan for their purchase. In this post, we’ll delve into the updated the 2024 FHA limits in Colorado for all counties, providing key insights for home buyers.
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Understanding Colorado FHA Loan Limits
First, it’s important to understand what FHA loan limits are and why they matter. These limits represent the maximum amount that can be borrowed under an FHA loan in a specific area. They vary by county and are adjusted annually based on changes in the housing market. FHA loans are favored by many first-time homebuyers due to their lower down payment requirements and more lenient credit score criteria.
What are the 2024 FHA Loan Limits in Colorado?
In 2024, FHA loan limits in Colorado have seen adjustments to reflect the real estate market’s current state. Colorado saw a nice boost to its FHA loan limits in 2024, including $498,257 for single family, $637,950 for two family, $771,125 for three family, and $958,350 for four family.
High-Cost vs. Low-Cost Counties
Colorado, with its diverse geography and economy, has both high-cost and low-cost areas. Counties like Denver, Boulder, and Pitkin typically have higher loan limits due to their more expensive real estate markets. In contrast, more rural counties may have lower limits. Understanding the classification of the county in which you’re looking to buy is crucial in determining your loan limit.
What are the 2024 Denver County FHA Loan Limits?
The 2024 FHA loan limits for Denver County, Colorado, are as follows:
- For a one family home, the limit is $816,500.
- For two family homes, the limit is $1,045,250.
- For three family homes, the limit is $1,263,500.
- For four family homes, the limit is $1,570,200.
These limits are established to accommodate the above-average housing prices in Denver County, and they are higher than the 2024 national floor limits.
2024 FHA Limits in Colorado by County
| MSA Name | County Name | One-Family | Two-Family | Three-Family | Four-Family | Median Sale Price |
| NON-METRO | BACA | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
| GREELEY, CO | WELD | $560,050 | $716,950 | $866,650 | $1,077,050 | $487,000 |
| DENVER-AURORA-LAKEWOOD, CO | ELBERT | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 | $710,000 |
| CANON CITY, CO | FREMONT | $498,257 | $637,950 | $771,125 | $958,350 | $285,000 |
| FORT COLLINS, CO | LARIMER | $632,500 | $809,700 | $978,750 | $1,216,350 | $550,000 |
| FORT MORGAN, CO | MORGAN | $498,257 | $637,950 | $771,125 | $958,350 | $316,000 |
| MONTROSE, CO | OURAY | $561,200 | $718,450 | $868,400 | $1,079,250 | $488,000 |
| DENVER-AURORA-LAKEWOOD, CO | PARK | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 | $710,000 |
| NON-METRO | PHILLIPS | $498,257 | $637,950 | $771,125 | $958,350 | $179,000 |
| STEAMBOAT SPRINGS, CO | ROUTT | $1,012,000 | $1,295,550 | $1,566,050 | $1,946,200 | $880,000 |
| NON-METRO | SEDGWICK | $498,257 | $637,950 | $771,125 | $958,350 | $135,000 |
| NON-METRO | DELTA | $498,257 | $637,950 | $771,125 | $958,350 | $304,000 |
| COLORADO SPRINGS, CO | EL PASO | $517,500 | $662,500 | $800,800 | $995,200 | $450,000 |
| NON-METRO | HUERFANO | $498,257 | $637,950 | $771,125 | $958,350 | $153,000 |
| NON-METRO | JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $175,000 |
| NON-METRO | KIOWA | $498,257 | $637,950 | $771,125 | $958,350 | $111,000 |
| NON-METRO | SAGUACHE | $498,257 | $637,950 | $771,125 | $958,350 | $127,000 |
| NON-METRO | SAN MIGUEL | $1,045,350 | $1,338,250 | $1,617,650 | $2,010,350 | $865,000 |
| NON-METRO | CHEYENNE | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| DENVER-AURORA-LAKEWOOD, CO | CLEAR CREEK | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 | $710,000 |
| EDWARDS, CO | EAGLE | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,173,000 |
| DENVER-AURORA-LAKEWOOD, CO | GILPIN | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 | $710,000 |
| NON-METRO | LINCOLN | $498,257 | $637,950 | $771,125 | $958,350 | $173,000 |
| STERLING, CO | LOGAN | $498,257 | $637,950 | $771,125 | $958,350 | $215,000 |
| GRAND JUNCTION, CO | MESA | $498,257 | $637,950 | $771,125 | $958,350 | $375,000 |
| NON-METRO | MINERAL | $498,257 | $637,950 | $771,125 | $958,350 | $252,000 |
| CRAIG, CO | MOFFAT | $498,257 | $637,950 | $771,125 | $958,350 | $257,000 |
| NON-METRO | OTERO | $498,257 | $637,950 | $771,125 | $958,350 | $137,000 |
| BRECKENRIDGE, CO | SUMMIT | $1,006,250 | $1,288,200 | $1,557,150 | $1,935,150 | $875,000 |
| COLORADO SPRINGS, CO | TELLER | $517,500 | $662,500 | $800,800 | $995,200 | $450,000 |
| DENVER-AURORA-LAKEWOOD, CO | BROOMFIELD | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 | $710,000 |
| NON-METRO | CUSTER | $498,257 | $637,950 | $771,125 | $958,350 | $258,000 |
| DENVER-AURORA-LAKEWOOD, CO | DENVER | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 | $710,000 |
| NON-METRO | GUNNISON | $633,650 | $811,200 | $980,550 | $1,218,550 | $551,000 |
| NON-METRO | LAKE | $498,257 | $637,950 | $771,125 | $958,350 | $359,000 |
| NON-METRO | LAS ANIMAS | $498,257 | $637,950 | $771,125 | $958,350 | $161,000 |
| NON-METRO | MONTEZUMA | $498,257 | $637,950 | $771,125 | $958,350 | $286,000 |
| MONTROSE, CO | MONTROSE | $561,200 | $718,450 | $868,400 | $1,079,250 | $488,000 |
| GLENWOOD SPRINGS, CO | PITKIN | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,050,000 |
| NON-METRO | RIO BLANCO | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| NON-METRO | RIO GRANDE | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| NON-METRO | SAN JUAN | $517,500 | $662,500 | $800,800 | $995,200 | $450,000 |
| NON-METRO | ARCHULETA | $498,257 | $637,950 | $771,125 | $958,350 | $375,000 |
| NON-METRO | CHAFFEE | $632,500 | $809,700 | $978,750 | $1,216,350 | $550,000 |
| NON-METRO | DOLORES | $498,257 | $637,950 | $771,125 | $958,350 | $155,000 |
| NON-METRO | GRAND | $747,500 | $956,950 | $1,156,700 | $1,437,500 | $650,000 |
| NON-METRO | WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| NON-METRO | ALAMOSA | $498,257 | $637,950 | $771,125 | $958,350 | $209,000 |
| BOULDER, CO | BOULDER | $856,750 | $1,096,800 | $1,325,800 | $1,647,650 | $737,000 |
| NON-METRO | COSTILLA | $498,257 | $637,950 | $771,125 | $958,350 | $70,000 |
Implications for Buyers
Knowing the FHA loan limits for the county where you plan to buy a home can significantly impact your budgeting and home search. It can determine the range of homes you can consider and influence your decision on whether an FHA loan is the best financing option for you.
Conclusion
As the housing market continues to evolve, staying informed about the latest FHA loan limits in Colorado is crucial for anyone considering buying a home with this type of financing. Whether you’re a first-time homebuyer or a seasoned investor, understanding these limits can help you make more informed decisions and navigate the home buying process more effectively.
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About the Author
Brian Reese is a senior advisor and co-owner at District Lending. He is one of the world’s leading experts in veteran benefits, having helped millions of veterans secure their financial future since 2013. Brian is the founder VA Claims Insider, an education-based Coaching & Consulting company whose mission is to educate and empower veterans to get the VA disability benefits they’ve earned for their honorable service. A former active-duty air force officer, Brian deployed to Afghanistan in support of Operation Enduring Freedom. He is a distinguished graduate of management of the United States Air Force Academy and earned his MBA as a National Honor Scholar from the Spears School of Business at Oklahoma State University.
“As a military veteran, I’ve made it my life’s mission to help people live happier and wealthier lives. District Lending brings this mission to life. We believe in integrity, honesty, and transparency, which is why you’ll see our rates right on our website. You’ll find lower rates and zero lending fees, which means you can buy your dream home for less. The savings are passed on to you — the way it should be.”
– Brian Reese, Advisor and Co-Owner, District Lending
