FHA Loans · CO
FHA Home Loans in Bayfield, CO
Bayfield sits in an elevated FHA zone ($747,500 limit), reflecting the area's higher-than-average home values and giving FHA access to more of the local market.
3.5% Down
$12,670
Monthly Total
$2,406/mo
2026 FHA Limit
$747,500
Income Needed
$88,074/yr
FHA Limit Covers Bayfield
FHA loan limits in LA PLATA County ($747,500) comfortably cover the Bayfield median home price ($362,000).
Down Payment Comparison
Most Popular
FHA 3.5% Down
$12,670
Lower MIP
FHA 10% Down
$36,200
No PMI
Conventional 20%
$72,400
Monthly Payment Breakdown
| Loan Type | P&I | MIP / PMI | Monthly Total |
|---|---|---|---|
| FHA 3.5% down | $2,246 | $160 | $2,406 |
| Conventional 5% down | — | $200 | $2,430 |
Upfront MIP of $6,113 (1.75%) is typically rolled into the loan balance.
Down Payment Assistance
CHFA (Colorado Housing and Finance Authority) offers down payment assistance grants and second mortgage products stackable with FHA — eligible buyers may reduce out-of-pocket to near $0. Income and purchase price limits apply.
CHFA Eligible: Colorado Housing and Finance Authority offers down payment assistance grants and second mortgage products stackable with FHA. Income and purchase price limits apply.
FAQs
Get pre-approved for an FHA loan in Bayfield
Low down payment, flexible credit requirements, and DPA stackable programs.