Mortgage for Colorado (2026)
Colorado (CO) Key Facts
Median Home Price
$540,000
Average Property Tax Rate
0.51%
Average Home Insurance Rate
0.55%
Estimated Monthly Payment
$3,629
First Time Buyer Programs
2
How This Calculator Works in Colorado
This mortgage calculator lets you estimate your monthly payment on a Colorado home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Colorado's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Colorado Overview
Colorado has a median home price of approximately $530K, with an average property tax rate of 0.51% and homeowners insurance averaging 0.55% annually. CHFA offers down payment assistance. CHFA SmartStep and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Colorado Compares
Compared to neighboring states, Colorado's median home price of $540,000 is above the national median of about $420,000. Nearby Utah has a median price of $500,000 with a 0.63% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Utah | $500,000 | Median home price is $500,000 with a 0.63% property tax rate. Estimated monthly mortgage payment is about $3,348. |
| Wyoming | $340,000 | Median home price is $340,000 with a 0.61% property tax rate. Estimated monthly mortgage payment is about $2,313. |
| Kansas | $225,000 | Median home price is $225,000 with a 1.41% property tax rate. Estimated monthly mortgage payment is about $1,728. |
The median home price in Colorado is $540,000, compared to the national median of approximately $420,000. With a 0.51% average property tax rate and 0.55% insurance rate, Colorado homeowners can expect an estimated monthly payment of about $3,629 on a median-priced home with 10% down at 6.75% interest.
Tips for Colorado Residents
- 1Colorado has a median home price around $530K. CHFA offers down payment assistance. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Colorado average 0.51%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore CHFA SmartStep & SectionEight programs for potential down payment assistance and favorable rates. Colorado also offers Metro Mortgage Assistance Plus. Check income limits and eligibility early in your home search.
- 4Documentary fee at closing; radon mitigation may be needed. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Metro Denver prices much higher. A 0.25% rate difference on a $540K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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