What is the purpose of an FHA Loan? The FHA mortgage program was created to make Colorado home ownership accessible to more people, and is administered by the US Department of Housing and Urban Development (HUD). FHA does not actually lend money; it reimburses FHA lenders if borrowers default on FHA home loans. This reduces the lenders' risk, which makes them more willing to loan money, and keeps borrowers' costs down. FHA mortgage lenders offer a variety of home loans designed to meet many needs, including: • Mortgages to purchase single-family homes, condominiums and 1- to 4-unit multifamily homes (203(b) loans) • Reverse mortgages, called Home Equity Conversion Mortgages or HECM • Refinance mortgages, whether or not your current loan is with FHA • Mortgages for manufactured or mobile homes (with or without land) • Mortgages to rehabilitate or improve a home that you already own, or one that you plan to buy (203(k) mortgages) FHA mortgages are especially well-suited to meet the needs of borrowers who need to finance more than 80 percent of their home’s purchase price or appraised value. These type of loans carry an assortment of advantages and drawbacks that you should be aware of before you decide that an FHA mortgage is right for you. If you already know that you want an FHA home loan, you can click the “Apply now” banner above and start your home purchase or refinance,

FHA Home Loans Colorado

There are many different loans and often more than one that will work for you. Peak Home Mortgage invites you to talk with us and let us help you decide what is best for you. Review the other options below

Conventional Home Loans

Home Equity Loans (HELOC)

203k FHA Loans

Reverse Mortgage Loans

VA Home Loans

Refinance Your Home