FHA Loans · CO
FHA Home Loans in Montrose, CO
FHA's 3.5% minimum on Montrose's $352,000 median requires just $12,320 — $5,280 less than a 5% conventional down payment.
3.5% Down
$12,320
Monthly Total
$2,339/mo
2026 FHA Limit
$541,287
Income Needed
$86,204/yr
FHA Limit Covers Montrose
FHA loan limits in MONTROSE County ($541,287) comfortably cover the Montrose median home price ($352,000).
Down Payment Comparison
Most Popular
FHA 3.5% Down
$12,320
Lower MIP
FHA 10% Down
$35,200
No PMI
Conventional 20%
$70,400
Monthly Payment Breakdown
| Loan Type | P&I | MIP / PMI | Monthly Total |
|---|---|---|---|
| FHA 3.5% down | $2,184 | $155 | $2,339 |
| Conventional 5% down | — | $195 | $2,363 |
Upfront MIP of $5,944 (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 Montrose
Low down payment, flexible credit requirements, and DPA stackable programs.