Colorado Mortgage Calculator
Calculate your Colorado mortgage payment with PMI, property tax, and closing costs.
Useful for home buyers in Denver, Colorado Springs, Aurora, Fort Collins, Boulder, and all of Colorado.
Useful for home buyers in Denver, Colorado Springs, Aurora, Fort Collins, Boulder, and all of Colorado.
Why use a Colorado Mortgage Calculator?
Colorado has a competitive real estate market. This calculator estimates your payment, PMI, property tax, and closing costs.
Colorado has a competitive real estate market. This calculator estimates your payment, PMI, property tax, and closing costs.
Result
Enter your details to see the estimated payment here.
Related Calculators
Colorado Property Tax: The average effective property tax rate is about 0.55%. Closing costs in CO are typically 2-5% of the purchase price.
Average Home Prices in Major Colorado Cities (2024)
| City | Detached | Semi-Detached | Townhouse | Condo |
|---|---|---|---|---|
| Denver | $700,000 | $600,000 | $500,000 | $400,000 |
| Colorado Springs | $500,000 | $400,000 | $350,000 | $300,000 |
| Aurora | $480,000 | $400,000 | $350,000 | $300,000 |
| Fort Collins | $600,000 | $500,000 | $450,000 | $400,000 |
| Boulder | $1,000,000 | $850,000 | $700,000 | $600,000 |
Note: Prices are approximate averages for 2024 and may vary by neighborhood and property features.
How Mortgage Rules Work in Colorado
- Property Tax: Colorado's average effective property tax rate is about 0.55%. Property taxes are paid annually and may be included in your monthly payment.
- PMI (Private Mortgage Insurance): If your down payment is less than 20%, you must pay PMI, which is added to your monthly payment until you reach 20% equity.
- Closing Costs: Colorado's closing costs include title insurance, escrow fees, and other expenses.
Example: On a $600,000 home with 10% down in Denver, you pay PMI and property tax. Closing costs are typically 2-5% of the purchase price.
Frequently Asked Questions
Yes, Colorado has a property tax. The average effective rate is about 0.55% of the assessed value. Property taxes are paid annually.
PMI (Private Mortgage Insurance) is required when your down payment is less than 20%. It protects the lender and is added to your monthly payment until you reach 20% equity.
Closing costs in Colorado are typically 2-5% of the purchase price and include title insurance, escrow fees, and other expenses.