Colorado's housing market ranges from affordable eastern plains communities to premium Front Range and mountain properties. With some of the lowest property tax rates in the nation offsetting higher home prices, our calculator helps you see your real monthly costs whether you're buying in Denver or Durango. Use our mortgage calculator to get a clear picture of your mortgage payment, including principal, interest, taxes, and insurance.
Calculate Your Colorado Mortgage Payment
Enter the home price, down payment, and interest rate to see your estimated monthly payment including principal, interest, taxes, and insurance.
Calculator Tips for Colorado Homebuyers
Get the most out of your mortgage calculation with these expert tips.
Compare Loan Terms
Try 15-year vs 30-year terms to find the right balance of payment size and total interest paid over the life of your loan.
Down Payment Impact
Increasing your down payment by even 5% can significantly reduce your monthly payment and help you avoid paying PMI altogether.
Include All Costs
Remember to budget for property taxes, homeowners insurance, and potential HOA fees when estimating your true monthly housing cost.
Get Exact Numbers
Contact NMHL for current rates specific to your credit profile and loan amount. Our calculators estimate — we can provide exact figures.
Turn Numbers Into Your New Home
This calculator gives you a solid starting point. When you are ready for exact numbers based on your credit profile and down payment, our loan officers provide personalized quotes — no obligation, no surprises.
Your Path to a Colorado Mortgage
From calculator to closing — here is how it works.
Choose Your Program
Explore FHA, VA, conventional, and other loan types to find the best fit for your situation.
Get Pre-Approved
Submit a quick application to see what you qualify for — no impact to your credit score.
Calculate Your Payment
Use our calculator with your actual rate to see exactly what your monthly payment will be.
Close on Your Home
Our team guides you through closing with dedicated support at every step.
Loan Programs Available in Colorado
Click a program to explore rates, requirements, and benefits.
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Understanding Colorado's Mortgage Landscape
Colorado's housing market is as diverse as its geography, ranging from affordable communities in the eastern plains to luxury mountain resorts. The state's median home price is around $580,000, though prices vary significantly between metro areas and rural communities.
When calculating your mortgage payment, it's essential to consider Colorado's unique market conditions, including the state's low property tax rates and the prevalence of jumbo loans in higher-cost areas.
Colorado's effective property tax rate averages just 0.51%, one of the lowest in the nation.
Colorado-Specific Mortgage Programs and Assistance
Colorado offers various programs to help homebuyers, particularly first-time buyers and those with lower incomes. The Colorado Housing and Finance Authority (CHFA) provides financing options with lower down payment requirements and competitive interest rates.
- Down Payment Assistance Programs: Up to 3% of the first mortgage amount as a grant or up to $25,000 as a second mortgage.
- CHFA loans: Available to buyers who meet income limits and credit score requirements.
Check your eligibility for Colorado's down payment assistance programs when using our mortgage calculator.
Calculating Your True Mortgage Payment in Colorado
When using our mortgage calculator, be sure to include all the factors that affect your monthly payment, such as:
- Home price and loan amount
- Interest rate and loan term
- Property taxes (Colorado's average effective rate is 0.51%)
- Homeowners insurance (which may be higher in wildfire or flood-prone areas)
- Private Mortgage Insurance (PMI) if your down payment is less than 20%
- HOA fees if applicable
Our calculator will give you a comprehensive view of your monthly costs, helping you make informed decisions about your home purchase.
Don't forget to factor in additional costs like homeowners association fees if you're buying in a planned community or condo.
Colorado Mortgage Regulations and Disclosures
Colorado has specific regulations governing mortgage lending, including requirements for certain disclosures. Lenders must provide:
- Loan Estimate: Outlining the loan terms, including interest rate, monthly payment, and closing costs.
- Closing Disclosure: Detailing the final loan terms and costs.
Understanding these documents is crucial to ensuring you're getting the best deal on your mortgage.
Review your Loan Estimate and Closing Disclosure carefully to understand your loan terms and costs.
Colorado Mortgage Calculator FAQs
As of current data, Colorado's median home price is around $580,000, though it varies significantly between metro areas like Denver ($650,000+) and more rural eastern plains communities.
Yes, the Colorado Housing and Finance Authority (CHFA) offers down payment assistance through grants and second mortgages. Programs include up to 3% of the first mortgage as a grant and up to $25,000 as a second mortgage for qualifying buyers.
If your loan amount exceeds $766,550 in most Colorado counties, you'll need a jumbo loan. Some high-cost mountain counties may have higher conforming limits. Jumbo loans typically require 10-20% down and a 700+ credit score.
Colorado has one of the lowest effective property tax rates in the country at about 0.51%. On a $550,000 home, annual property taxes would be approximately $2,805 or $234 per month, significantly less than many comparable-price markets.
Yes, many areas outside the Denver-Boulder-Colorado Springs corridor qualify for USDA loans. Eastern plains towns, mountain communities, and western slope areas like Grand Junction are often eligible. USDA offers zero down payment for moderate-income buyers.
Colorado's first-time homebuyer programs, such as CHFA's Down Payment Assistance Program, typically require a minimum credit score of 620-640, income limits based on area median income, and completion of a homebuyer education course.
Colorado Mortgage Resources
Ready to Buy a Home in Colorado?
Get a personalized mortgage quote from NMHL. Our Colorado-licensed loan officers are ready to help you find the best rate.