FHA, VA and Conventional Loans in Colorado

Conventional financing

Conventional loans are not insured by FHA or guaranteed by VA. Some eligible programs permit a down payment below 20%; mortgage insurance generally applies when the down payment is under 20%. Pricing, mortgage insurance and approval depend on credit, debt, income and property details.

FHA financing

FHA-insured mortgages may allow lower down payments and more flexible credit qualifications for eligible borrowers. FHA mortgage insurance is generally part of the cost, with duration depending on the loan terms and down payment. FHA is not automatically better or worse: compare the complete payment and cash-to-close figures.

VA financing

VA-guaranteed home loans offer valuable benefits to eligible veterans, service members and certain surviving spouses, including down payment flexibility and generally no monthly mortgage insurance. Eligibility, entitlement, a possible VA funding fee and lender approval still matter. Some borrowers are exempt from the funding fee.

Compare the same scenario

Ask for side-by-side Loan Estimates using the same property price, down payment assumptions, lock period and realistic insurance and tax estimates. Compare interest rate, APR, closing expenses, mortgage insurance, cash needed and expected time in the home.

Colorado property considerations

Some properties have well or septic systems, unique access agreements or insurance challenges. Loan program property requirements and the lender’s appraisal review may affect financing. Tell your loan originator about unusual property features early.

A good strategy is personal

The right program is the one that fits your eligibility, monthly budget, cash reserves and future plans. No single product works best for every buyer.

Educational information only; not a commitment to lend. Programs, fees and eligibility vary and may change. Edge Home Finance, LLC · NMLS #891464 · Mortgage Broker · Equal Housing Opportunity. Grant Brewster · NMLS #737321.