We provide FHA home loans in Castle Rock, CO Denver and throughout the United States. An FHA home loan is a government backed mortgage which offers looser requirements than other mortgage programs. Buyers may qualify for an FHA loan with lower credit scores and higher debt to income ratios. In some cases, you may even qualify for an FHA home loan with a bankruptcy or other financial issue on your credit report. FHA loans can only be used for a primary residence and you must occupy the home within 60-days of closing. 

FHA loans can be obtained with as little as 3.5% as a down payment and  gifted funds can be used if they are well-documented to ensure that the funds are in fact a gift and not a loan in disguise.

FHA home loans include a mortgage insurance premium (MIP) for the life of the loan, unless a down payment of at least 10% is made. 

FHA Home Loans Colorado

FHA Home Loan Requirements

Our FHA home loan programs in Colorado provide more lenient requirements for home buyers looking to purchase a primary residence. FHA insurance allows mortgage lenders like Wyatt Home Loans to approve loans that might normally be considered higher risk due to lower credit scores, low down payments, or higher debt to income ratios. As part of Fairway Independent  Mortgage Company, we are a TOP 10 lender by volume for FHA loans in the United States.

FHA Loan Down Payment Requirements

FHA Loan Down Payments

Down payments for FHA loans can be as low as 3.5% for those with 580+ FICO scores. Those with FICO scores between 500 and 579 are required to come up with at least 10% as a down payment.  The down payment is your initial out-of-pocket investment needed to qualify for the loan/mortgage. These funds can be gifted as long as they are well documented and not a loan in disguise. 

FHA Loan Credit Score Requirements

Credit Score/Debt to Income Ratio

One requirement for an FHA loan is a minimum credit score (FICO) of 500 and debt to income ratio of 43% or less. Borrowers with lower credit scores may have to exhibit lower debt to income ratios (DTI), while borrowers with higher scores (580+) may be able to show higher DTI. Your DTI ratio is found by dividing your monthly debts (student loans, car loans, credit cards) by your monthly gross income. FHA requirements state that your mortgage payment should be no more than 31% of your monthly gross income.

HECM for Purchase Loan Colorado

FHA Mortgage Insurance

FHA loans require the borrower to pay a mortgage insurance premium (MIP) for the life of the loan. If a down payment of at least 10% is made, the MIP is only charged through year 10 of the loan. FHA loan mortgage insurance is assessed first as an upfront mortgage premium , which is normally 1.75% of your base loan amount. Borrowers also pay an annual mortgage insurance premium, based on the term of the mortgage. 

Commonly Asked FHA Loan Questions

FHA loan limits in Colorado vary by county and range from $420,680 up to $970,800. FHA loan limits in Adams and Douglas county are $684,250.

Generally speaking, FHA loans are subject to higher monthly mortgage payments due to Mortgage Insurance Premiums and the FHA guaranty for the loan. 

Generally speaking, the requirements for an FHA loan are looser than with other types of home loans. Borrowers need a 500-580+ FICO score and the home must be appraised by an FHA-approved appraiser.

If you can’t qualify for a conventional loan due to lower credit (FICO) scores or higher debt to income ratios, an FHA home loan might be a great option. 


Wyatt Home Loans is a division of Fairway Independent Mortgage Corporation. Based in Castle Rock, CO, we provide comprehensive FHA mortgage options to borrowers throughout the state of Colorado including:


Colorado Springs


Fort Collins





Highlands Ranch





Mortgage Pre-Approval Colorado

In such a competitive housing market, we understand the need for our clients to bring the best deal possible to the table when competing for a home. The combination of a Fairway Cash Guarantee and Fairway Advantage Pre-Approval* will give you the buying power you need to COMPETE WITH CASH! In fact, Fairway is so confident that we will buy the seller’s home if we cannot close for a financing reason by the contracted date.


  • Seller will receive a CASH GUARANTEE.
  • Buyer can COMPETE with CASH OFFERS.
  • Borrower does NOT have to pay any additional fees to use this program.
  • If the guarantee is triggered, the seller may opt for Fairway to NOT buy their home, and instead walk away from the deal with $10,000 paid by Fairway, and the contract terminated.


  • Borrowers must have a Fairway Advantage Pre-Approval.
  • Borrowers must be financing with FHA, VA, or Conventional loan.
  • Borrower must be purchasing a single-family residence.

* Fairway Advantage Pre-Approval is based on a full review of borrower’s creditworthiness and is contingent upon there being no material changes in the borrower’s financial condition or creditworthiness at the time of final loan approval. Final loan approval is subject to the following conditions: (1) borrower has identified a suitable property, and a valid appraisal supports the proposed loan amount; (2) a valid title insurance binder has been issued; and (3) borrower selects a mortgage program and locks in an interest rate that will support the pre-approved monthly payment amount. Loan must close before the expiration date provided in the pre-approval. Loan must close before the expiration date provided in the pre-approval. Offer not available on DPA programs, bond, high balance/super conforming, jumbo, or USDA loans. Please note that submitting verifying documentation is not a requirement to receive an estimate of closing costs associated with a mortgage loan. Sale of home proceeds contingency not allowed. Gifts not deposited are not allowed. 

Note: If the seller opts to have Fairway purchase their home, Fairway will pay the appraised value or the contract price, whichever is lower. Some condo’s may be acceptable under this program too, ask your loan officer for more details.

Contact Us

Wyatt Home loans is a Castle Rock, CO based full service mortgage lender, offering home buyers access to a wide variety of home loan and mortgage programs custom tailored to their individual needs.  


115 Wilcox St, Ste #309
Castle Rock, CO 80104
Ph: +1-303-775-2928