FHA loans are insured by the Federal Housing Administration, which lets lenders say yes to buyers with smaller down payments and credit that is still being built. For a lot of Colorado families, FHA is the loan that makes the first home possible.
Is this a good fit for you?
- Credit scores that are good but not perfect
- A smaller down payment saved
- Gift money from family for part of the down payment
- Buyers who want a fixed, predictable payment
How it works with Dakotah
1. Down payment from 3.5%
With qualifying credit, FHA allows a down payment as low as 3.5% of the price. Gift funds can help.
2. Mortgage insurance
FHA loans carry mortgage insurance. Dakotah shows you that cost in your monthly estimate so you can compare it fairly against conventional.
3. Home standards
The FHA appraisal checks that the home is safe and sound. She will tell you what that means for the houses you are looking at.
4. A path to refinance later
Many buyers start with FHA and refinance later when their equity and credit grow. She keeps an eye on that for you.
What to have ready
- Two years of work history
- Pay stubs and W-2s
- Bank statements for the down payment
- A gift letter if family is helping
Do not have all of it yet? That is fine. Start the conversation and Dakotah will tell you exactly what she needs and when.
“FHA gets a bad rap it does not deserve. For the right buyer it is the fastest way into a home. I always run FHA and conventional side by side so you can see the real difference.”
Dakotah Kutz, NMLS #1568471Why people choose Dakotah
Plenty of lenders can quote a rate. What clients talk about is the experience. Dakotah answers fast, explains each step in plain words, and keeps your agent in the loop so nobody is guessing. When a file gets complicated, a job change, a gift, a tricky appraisal, she finds a way through it instead of handing you a list of reasons it will not work.
She also looks past the first loan. If an FHA loan gets you in the door today, she will tell you when a refinance might make sense later. If you are buying a rental, she thinks about the next one too. That long view is why so many of her clients come back and send their friends.
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Questions people ask
Is FHA only for first-time buyers?
No. Anyone who meets the guidelines and plans to live in the home can use FHA.
Can I remove FHA mortgage insurance?
It depends on your down payment and loan terms. Many people refinance into a conventional loan later to drop it. Dakotah will explain the rules for your loan.
Can I buy a duplex with FHA?
FHA can be used for two to four unit homes if you live in one of the units.
Other loans to compare
Talk to Dakotah about fha loans.
She will look at your full picture and tell you straight if this is the right program.