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In 2024, the maximum FHA loan size for Denver, Colorado and the surrounding metro area is $816,500. That’s much higher than the area’s median home price.
Federal Housing Administration (FHA) loans are one of the most popular financing options for home buyers in the Denver metro area. First-time buyers, in particular, for a couple of reasons.
The minimum down payment is one of the most appealing features. Denver-area home buyers who use an FHA loan to buy a house can put down as little as 3.5% of the purchase price. Conventional mortgage loans often require more money down. Further, credit score requirements are typically lower with FHA loans, requiring a minimum of 580.
But there are limits to how much you can borrow when using this program. Here’s what you should know about the maximum loan amounts for Denver.
The Federal Housing Administration falls under the Department of Housing and Urban Development (HUD). So, all of the loan requirements are established by HUD, and that includes the maximum amounts. These “loan limits” vary by county because they are derived from median home prices.
In 2024, the maximum FHA loan amount for Denver, Colorado is $816,500. That’s for a single-family home purchase. There are higher limits for multi-family properties, the kind that are often purchased by investors.
These figures apply to the entire Denver-Aurora-Lakewood metro area, including the following counties: Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, and Park, as per the chart below:
| County Name | 1 Unit | 2 Units | 3 Units | 4 Units |
| ADAMS | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| ARAPAHOE | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| BROOMFIELD | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| CLEAR CREEK | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| DENVER | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| DOUGLAS | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| ELBERT | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| GILPIN | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| JEFFERSON | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
| PARK | $816,500 | $1,045,250 | $1,263,500 | $1,570,200 |
There’s an important distinction to be made between (A) the maximum FHA loan amount for Denver, and (B) the purchase price of the home you are buying. It’s possible to buy a house that exceeds the limits shown above, as long as your down payment makes up the difference.
According to Zillow, the average price for homes in the area is $558,402 in December 2023. That’s 2% lower than the same month last year and much lower than the maximum FHA loan size for the Denver area. This means that home buyers who use this program should have plenty of properties to choose from while staying at or below the FHA limit.
Related: Denver real estate forecast
Check out our mortgage loan limit tool for conventional, FHA, and VA loans, as well as the 2024 FHA loan limits for Colorado.
All types of mortgage loans have certain pros and cons, and that goes for the Federal Housing Administration’s insurance program as well. Choosing the right financing option requires a thorough understanding of loan features and requirements.
As mentioned earlier, Denver home buyers who use an FHA loan can put down as little as 3.5%. That’s the minimum investment required by HUD. Even better, these funds can be gifted to the buyer from a third party, such as a family member. FHA also offers a streamlined refinancing program, which could be useful down the road if you decide to refinance your home.
Borrowers who use this program have to for mortgage insurance. It’s required on all FHA purchase loans. This can increase the size of your monthly payments. But it’s a trade-off. This insurance is what makes the FHA mortgage program possible in the first place. Without it, borrowers wouldn’t have access to such a flexible, low down payment financing option.
At Sammamish Mortgage, we offer a wide variety of mortgage programs and tools with flexible qualification criteria, including our Diamond Homebuyer Program, Cash Buyer Program, and Bridge Loans. We have been serving the entire state since 1992, as well as the broader Pacific Northwest region that includes Washington, Oregon, Colorado, and Idaho. Please contact us today with any financing-related questions you have.
Whether you’re buying a home or ready to refinance, our professionals can help.
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No Obligation and transparency 24/7. Instantly compare live rates and costs from our network of lenders across the country. Real-time accurate rates and closing costs for a variety of loan programs custom to your specific situation.