In this blog, we will cover and discuss Colorado mortgage loan limits on FHA and Conventional Loans. Just like the rest of the nation, Colorado has experienced loan limit increases for the calendar year of 2022. After review, FHFA has raised the conforming loan limits across the Nation due to skyrocketing home prices.
The FHFA Increase Colorado Mortgage Loan Limits on Conforming Loans Limit Due to Increasing Home Prices
2022 conforming loan limit in standard areas with national median average home prices is now at $647,200. After reviewing the previous four quarters of Real Estate transactions across the nation, the Federal Housing Finance Agency (FHFA) has recognized a trend of increased home prices. FHFA adjusted the conforming loan limit accordingly. In this blog, we will discuss high balance areas throughout the state of Colorado and their FHA and conventional loan limits. After speaking to a few realtors in the Denver metropolitan area, it looks like housing prices are starting to taper off throughout the area. Opening up a great opportunity to buy a home.
Colorado Mortgage Loan Limits On Conventional Loans
As stated above there was an overall increase on average of 8.9% across the board. Please see the chart below for the majority of counties throughout Colorado and the United States.
New Updated Colorado Mortgage Loan Limits
Below are conforming Colorado Mortgage Loan Limits
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
Colorado Mortgage Loan Limits in Higher Cost Housing Areas
As you can see, you can now purchase a higher-priced home before entering into the jumbo mortgage programs. As you may know, jumbo mortgages can be incredibly difficult to qualify for in today’s mortgage lending climate. So, this increase is a good thing for clients looking to purchase a new home. At Gustan Cho Associates, we do not have any lender overlays on conventional mortgages. The Team at Gustan Cho Associates is able to help more families than most mortgage companies.
High-Balance Loans in High-Cost Areas Colorado Mortgage Loan Limits
Many of you reading this blog in Colorado will live in a “high-balance” county. This means the loan limits are even HIGHER for Conventional Loans. Below is a list of those counties in alphabetical order:
ADAMS
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
ALAMOSA
- 1-Unit Property- $647,200
- 2-Unit Properties-$828,700
- 3-Unit Properties-$1,001,650
- 4-Unit Properties-$1,244,850
ARAPAHOE
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
ARCHULETA
- 1-Unit Property- $647,200
- 2-Unit Properties-$828,700
- 3-Unit Properties-$1,001,650
- 4-Unit Properties-$1,244,850
BACA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
BENT
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
BOULDER
- 1-Unit Property – $747,500
- 2-Unit Properties – $956,950
- 3-Unit Properties – $1,156,700
- 4-Unit Properties – $1,437,500
BROOMFIELD
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
CHAFFEE
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
CHEYENNE
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
CLEAR CREEK
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
CONEJOS
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
COSTILLA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
CROWLEY
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
CUSTER
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
DELTA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
DENVER
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
DOLORES
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
DOUGLAS
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
EAGLE
- 1-Unit Property – $862,500
- 2-Unit Properties – $1,104,150
- 3-Unit Properties – $1,344,700
- 4-Unit Properties – $1,658,700
ELBERT
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
EL PASO
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
FREEMONT
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
GARFIELD
- 1-Unit Property – $856,750
- 2-Unit Properties – $1,096,800
- 3-Unit Properties – $1,325,800
- 4-Unit Properties – $1,647,650
GILPIN
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
GRAND
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
GUNNISON
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
HINSDALE
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
HUERFANO
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
JACKSON
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
JEFFERSON
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
KIOWA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
KIT CARSON
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
LAKE
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
LA PLATA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
LARIMER
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
LAS ANIMAS
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
LINCOLN
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
LOGAN
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
MESA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
MINERAL
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
MOFFAT
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
MONTEZUMA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
MONTROSE
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
OTERO
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
OURAY
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
PARK
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
PHILIPS
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
PROWERS
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
PITKIN
- 1-Unit Property – $856,750
- 2-Unit Properties – $1,096,800
- 3-Unit Properties – $1,325,800
- 4-Unit Properties – $1,647,650
PUEBLO
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
RIO BLANCO
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
ROUTT
- 1-Unit Property – $678,500
- 2-Unit Properties – $868,600
- 3-Unit Properties – $1,049,950
- 4-Unit Properties – $1,304,850
SAGUACHI
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
SAN MIGUEL
- 1-Unit Property – $756,700
- 2-Unit Properties – $968,700
- 3-Unit Properties $1,170,950
- 4-Unit Properties $1,455,200
SEDGWICK
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
SUMMIT
- 1-Unit Property – $822,375
- 2-Unit Properties – $1,053,000
- 3-Unit Properties – $1,272,750
- 4-Unit Properties – $1,581,750
TELLER
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
WASHINGTON
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
WELD
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
YUMA
- 1-Unit Property – $647,200
- 2-Unit Properties – $828,700
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,244,850
Colorado Loan Limits On VA Mortgages
VA loans no longer have a maximum loan limit on VA loans. VA used to mirror the Conventional loan limits above before a down payment is required until the VA got rid of the maximum loan limits. For this Veteran to use a VA loan to buy this home for $950,000 in DENVER County, NO down payment will be needed. NOT BAD for a $950,000 home!
Colorado Mortgage Loan Limits on FHA Loans
FHA Loan Limits in Colorado:
For most counties across the country including Colorado, the FHA loan limit is now $420,680 for the calendar of 2022 on single-family homes. FHA high-balance loan limits in high-balance counties are $970,800 in high-balance areas on single-family homes. Colorado has 64 counties. There are a few counties, such as Eagle County where the FHA loan limit is actually higher than the conventional loan limit. Please see the numbers below for your specific high balance County. Remember we do not have any lender overlays and are experts in FHA Manual Underwriting.
ADAMS
- 1-Unit Property – $$684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,860
- 4-Unit Properties – $1,315,900
ALAMOSA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
ARAPAHOE
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
ARCHULETA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
BACA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
BENT
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
BOULDER
- 1-Unit Property – $747,500
- 2-Unit Properties – $956,950
- 3-Unit Properties – $1,156,700
- 4-Unit Properties – $1,437,500
BROOMFIELD
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
CHAFFEE
- 1-Unit Property – $461,150
- 2-Unit Properties – $590,350
- 3-Unit Properties $713,600
- 4-Unit Properties $886,850
CHEYENNE
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
CLEAR CREEK
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
CONEJOS
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
COSTILLA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
CROWLEY
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
CUSTER
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
DELTA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
DENVER
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
DOLORES
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
DOUGLAS
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
EAGLE
- 1-Unit Property – $862,500
- 2-Unit Properties – $1,104,150
- 3-Unit Properties – $1,344,700
- 4-Unit Properties – $1,658,700
ELBERT
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
EL PASO
- 1-Unit Property- $460,000
- 2-Unit Properties-$588,850
- 3-Unit Properties-$711,800
- 4-Unit Properties-$884,600
FREEMONT
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
GARFIELD
- 1-Unit Property – $970,800
- 2-Unit Properties – $1,243,050
- 3-Unit Properties – $1,502,475
- 4-Unit Properties – $1,867,250
GILPIN
- 1-Unit Property – $684,250
- 2-Unit Properties – $975,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
GRAND
- 1-Unit Property – $534,750
- 2-Unit Properties – $684,550
- 3-Unit Properties $1,001,650
- 4-Unit Properties $1,028,350
GUNNISON
- 1-Unit Property – $431,250
- 2-Unit Properties – $552,050
- 3-Unit Properties $667,350
- 4-Unit Properties $829,350
HINSDALE
- 1-Unit Property- $427,800
- 2-Unit Properties-$547,650
- 3-Unit Properties-$662,000
- 4-Unit Properties-$822,700
HUERFANO
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
JACKSON
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
JEFFERSON
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
KIOWA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
KIT CARSON
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
LAKE
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
LA PLATA
- 1-Unit Property – $494,500
- 2-Unit Properties – $633,050
- 3-Unit Properties $765,200
- 4-Unit Properties $950,950
LARIMER
- 1-Unit Property – $522,100
- 2-Unit Properties – $668,400
- 3-Unit Properties $807,900
- 4-Unit Properties $1,004,050
LAS ANIMAS
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
LINCOLN
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
LOGAN
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
MESA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
MINERAL
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
MOFFAT
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
MONTEZUMA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
MONTROSE
- 1-Unit Property- $425,500
- 2-Unit Properties-$544,700
- 3-Unit Properties-$658,450
- 4-Unit Properties-$818,250
OTERO
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
OURAY
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
PARK
- 1-Unit Property – $684,250
- 2-Unit Properties – $875,950
- 3-Unit Properties – $1,058,850
- 4-Unit Properties – $1,315,900
PHILIPS
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
PROWERS
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
PITKIN
- 1-Unit Property – $970,800
- 2-Unit Properties – $1,234,050
- 3-Unit Properties – $1,502,475
- 4-Unit Properties – $1,867,275
PUEBLO
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
RIO BLANCO
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
ROUTT
- 1-Unit Property – $678,500
- 2-Unit Properties – $868,600
- 3-Unit Properties – $1,049,950
- 4-Unit Properties – $1,304,850
SAGUACHI
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
SAN MIGUEL
- 1-Unit Property – $970,800
- 2-Unit Properties – $1,243,050
- 3-Unit Properties $1,502,475
- 4-Unit Properties $1,867,250
SEDGWICK
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
SUMMIT
- 1-Unit Property – $925,750
- 2-Unit Properties – $1,185,150
- 3-Unit Properties – $1,432,550
- 4-Unit Properties – $1,780,300
TELLER
- 1-Unit Property- $460,000
- 2-Unit Properties-$588,850
- 3-Unit Properties-$711,800
- 4-Unit Properties-$884,600
WASHINGTON
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
WELD
- 1-Unit Property- $483,000
- 2-Unit Properties-$618,300
- 3-Unit Properties-$747,400
- 4-Unit Properties-$928,850
YUMA
- 1-Unit Property- $420,680
- 2-Unit Properties-$538,650
- 3-Unit Properties-$651,050
- 4-Unit Properties-$809,150
These increases will help many Colorado Borrowers not enter into the jumbo mortgage realm. Qualifications are much more lacking for conventional and FHA financing compared to jumbo financing. We are experts in all mortgage guidelines that are available 7 days a week to take your questions. For expert mortgage advice throughout the state of Colorado, please contact Mike Gracz at Gustan Cho Associates at (800) 900-8569. You can call or text that number or send an email to Mike directly at gcho@gustancho.com. Gustan Cho Associates is a mortgage company licensed in 48 states with no overlays on government and conventional loans. We also offer non-QM and bank statement loans for self-employed borrowers.