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Colorado Mortgage Calculator
This Colorado mortgage calculator shows your real monthly payment on a home in Denver, Colorado Springs, Fort Collins or anywhere in the state: principal and interest at this week's live rate, plus Colorado property tax, homeowners insurance, HOA dues and PMI or FHA mortgage insurance. Switch between conventional, FHA and VA loans, 30 or 15 years, or flip to the What can I afford tab to work backward from your income.
Call or text 303-955-4220. A live person answers. Not a robot, not a phone tree.
Loading the calculator with this week's rates.
Prefer a person? Call or text 303-955-4220.
Conventional, FHA or VA: which loan fits?
| Conventional | FHA | VA | |
|---|---|---|---|
| Minimum down | 3% | 3.5% | 0% |
| Mortgage insurance | PMI under 20% down, drops off at 20% equity | 1.75% upfront plus 0.55% a year | None monthly; a one-time funding fee (1.25% to 2.15%) |
| Credit | Best rates at 740+ | Built for lower scores | Flexible; lenders set the floor |
| Best for | Buyers with 5% to 20% down and solid credit | First-time buyers with less down or a thinner credit file | Veterans, active duty and eligible spouses |
What makes a Colorado payment different
0.4% to 0.7% Property tax Of value a year, low by national standards | $2,000+ Insurance A year: hail and wildfire |
$0 to $600 HOA dues A month: townhomes and newer communities | Live Rates This week's Freddie Mac average |
- Taxes are low, insurance is high. Colorado property tax is a fraction of what Texas or Illinois owners pay, but hail and wildfire premiums close the gap.
- HOA dues change the math. A townhome with a $350 HOA that covers the roof and exterior can cost less to own than a house with no HOA and a $3,500-a-year insurance bill.
- Every quarter point counts. On a $400,000 loan, each 0.25% in rate moves the payment about $68 a month. See this week's Colorado mortgage rates and what half a point costs.
- Sellers are paying for buydowns. In a balanced market, ask for a rate buydown or closing costs instead of a bigger price cut: seller concessions for buyers.
Help with the down payment
Colorado down payment assistance covers the down payment for buyers who qualify, and some programs get buyers in with about $1,000 cash to close. Start with CHFA down payment assistance, Colorado down payment assistance programs and can I afford a home now? Still deciding? Read rent or buy in Colorado at 7%.
Get a real number in one call
Mike Oswald at Rate, a lender many of our buyers use, runs your real payment and a pre-approval. Start a pre-approval or call or text the Kenna Real Estate Group at 303-955-4220. A live person answers.
Mike Oswald, NMLS #261003. Guaranteed Rate, Inc. d/b/a Rate, NMLS #2611. Equal Housing Lender. Licensing: nmlsconsumeraccess.org. You may use any lender; the Kenna Real Estate Group is not affiliated with Rate or Mike Oswald and receives nothing for the introduction. Not a commitment to lend; loans are subject to credit approval.
Colorado homes under $450,000, updated daily
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Colorado homes under $450,000, updated daily Market Stats
166
Homes Listed
108
Avg. Days on Site
$262
Avg. $ / Sq.Ft.
$296,543
Med. List Price
Quick answers
How much is a mortgage payment on a $500,000 house in Colorado?
At this week's 30-year rate with 10% down, principal and interest on a $450,000 loan runs a little over $3,000 a month. Add Colorado property tax (about $230 a month), homeowners insurance (about $230 a month), PMI and any HOA. The calculator above does the math with the live rate.
What property tax rate should I use for Colorado?
Colorado homes pay 0.4% to 0.7% of value a year, among the lowest rates in the country. The calculator starts at 0.55%; the county assessor's page lists the exact tax for any address.
Why is homeowners insurance so high in Colorado?
Hail and wildfire. Colorado premiums run well above the national average, so the calculator starts at $2,800 a year. Get a real quote before your inspection deadline.
Do I have to pay PMI in Colorado?
On a conventional loan with less than 20% down, yes, until you reach 20% equity. FHA loans carry mortgage insurance instead (1.75% upfront plus 0.55% a year), and VA loans have no monthly mortgage insurance but charge a one-time funding fee.
How much do I need to make to buy a house in Colorado?
Lenders cap total monthly debt near 43% of income. Use the What can I afford tab: it works backward from your income, debts and cash to the highest price you qualify for.
Can I buy with less than 3% down in Colorado?
Yes. VA loans need 0% down, and Colorado down payment assistance (CHFA and local programs) covers the down payment for buyers who qualify. Some programs get buyers in with about $1,000 cash to close.
Where to go next
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