FHA Loans · CO
FHA Home Loans in Cortez, CO
FHA's 3.5% minimum on Cortez's $288,000 median requires just $10,080 — $4,320 less than a 5% conventional down payment.
3.5% Down
$10,080
Monthly Total
$1,914/mo
2026 FHA Limit
$541,287
Income Needed
$74,344/yr
FHA Limit Covers Cortez
FHA loan limits in MONTEZUMA County ($541,287) comfortably cover the Cortez median home price ($288,000).
Down Payment Comparison
Most Popular
FHA 3.5% Down
$10,080
Lower MIP
FHA 10% Down
$28,800
No PMI
Conventional 20%
$57,600
Monthly Payment Breakdown
| Loan Type | P&I | MIP / PMI | Monthly Total |
|---|---|---|---|
| FHA 3.5% down | $1,787 | $127 | $1,914 |
| Conventional 5% down | — | $159 | $1,933 |
Upfront MIP of $4,863 (1.75%) is typically rolled into the loan balance.
Down Payment Assistance
CHFA (Colorado Housing and Finance Authority) offers down payment assistance grants and second mortgage products stackable with FHA — eligible buyers may reduce out-of-pocket to near $0. Income and purchase price limits apply.
CHFA Eligible: Colorado Housing and Finance Authority offers down payment assistance grants and second mortgage products stackable with FHA. Income and purchase price limits apply.
FAQs
Get pre-approved for an FHA loan in Cortez
Low down payment, flexible credit requirements, and DPA stackable programs.