We measure the dynamic properties of Co25Fe75 thin films grown by dc magnetron sputtering. Using ferromagnetic resonance spectroscopy, we demonstrate an ultralow total damping parameter in the out-of-plane configuration of < 0.0013, whereas for the in-plane configuration we find a minimum total damping of < 0.0020. In both cases, we observe low inhomogeneous linewidth broadening in macroscopic films. We observe a minimum full-width half-maximum linewidth of 1 mT at 10 GHz resonance frequency for a 12 nm thick film. We characterize the morphology and structure of these films as a function of seed layer combinations and find large variation of the qualitative behavior of the in-plane linewidth vs. resonance frequency. Finally, we use wavevector-dependent Brillouin light scattering spectroscopy to characterize the spin-wave dispersion at wave vectors up to 23 υm-1.