Buy Your Home with a Flexible FHA Mortgage from Points West!

Mortgages backed by the Federal Housing Administration (FHA) are designed to make homeownership more accessible, especially to first-time buyers and those with limited savings. FHA mortgage loans offer fixed or adjustable-rate mortgages and low-down payments. At Points West Community Bank, we can help you get an FHA loan in Colorado, Nebraska, and Wyoming.

Why Choose an FHA Loan?

FHA loans are backed by the federal government as a way of supporting homeownership. They have flexible credit score requirements and are available with down payments as low as 3.5%, making them ideal for first-time buyers and repeat buyers. With the support of a local lending expert, you could become a homeowner with a government-backed mortgage that offers competitive and affordable interest rates.

FHA Home Loan Benefits

One of the key benefits of government-backed mortgage programs is they can be much easier to qualify for than a conventional mortgage. Not only do FHA home loans offer affordable mortgages with low down payments, but you might also qualify for state and local down payment assistance programs to reduce your cost of home ownership even more. In some cases, if you buy a property that’s a bit of a “fixer-upper,” you might also borrow enough to cover your renovation costs.

How to Apply for an FHA Mortgage

Applying for an FHA mortgage does involve some paperwork, but we can help you with the entire process. Here are your steps towards affordable homeownership:

1. Apply for a Mortgage Online or Speak with a PWCB Mortgage Expert

If you’re ready to get started, you can apply easily using our online mortgage application. Our mortgage lenders will go over your financial documents, explain the process, and discuss what you need to qualify. You can also call us at (970) 541-2520.

2. Get Pre-Qualified to Better Know Your Budget

The prequalification isn’t a formal mortgage application; it’s an estimate of the type of mortgage you might qualify for and how much you could expect to borrow. It’s a way of making sure your paperwork is in order and gives you an idea of how much you could spend on a home.

3. Submit Your FHA Application

After prequalification, you’ll receive a letter of preapproval that indicates how much you can borrow. These letters are typically good for 60 to 90 days. You can show this document to realtors and sellers as proof that you’re able to buy a property. Some realtors won’t show a home without a letter of preapproval.

4. Close Quickly, Often In 20 Days or Less

If you bid on a home and your offer is accepted, then you move to the closing phase, which can take 30 to 60 days, although closings often take 20 days or less. The property will have to be inspected by an appraiser who can confirm its market value, and there will be a title search to confirm who owns the property and that there aren’t any liens or other encumbrances on the home.

5. Move Into Your New Home with Confidence

The closing process ends with a final walk-through of the property to make sure it’s in good condition. You sign your mortgage documents and receive the keys to your new home!

Monthly Mortgage Payments Calculator

Use our Monthly Mortgage Payments Calculator to estimate your loan costs based on rate, loan amount, and term. This makes it easy to compare your mortgage options and figure out what’s best for you.

Why Choose Points West?

At Points West Community Bank, we’ve been a trusted lender in Colorado, Nebraska, and Wyoming for more than four generations. Our friendly and community-focused lending experts have helped countless homeowners obtain FHA mortgages and down payment assistance, with fast approvals and streamlined closings.

We proudly serve communities across Colorado, Nebraska, and Wyoming. This includes the Front Range region of Colorado (Fort Collins, Loveland, Greeley, Wellington, and Windsor), central Nebraska and the Panhandle (Sydney, Bridgeport, Fullerton, and beyond), and Wyoming communities such as Torrington, Pine Bluffs, Douglas, and Lingle. Check out all of our PWCB locations and find the one closest to you!

Ready to Get Started? Let Us Help You Get Approved for an FHA Loan Today!

An FHA-backed mortgage could be your ticket to homeownership. Our lending team can walk you through the entire process, help you apply, and discuss the down payment assistance programs you might qualify for. Apply online and get started today!

Need more information? Call us at (970) 541-2520 or fill out the form below.