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Colorado mortgage calculator

The median home in Colorado runs about $550,000. With 20% down that's a loan near $440,000 — the calculator is pre-filled with that figure. Colorado pairs one of the lowest state sales-tax rates and lowest property tax rates with high home prices along the Front Range. Wildfire and hail risk push insurance premiums well above the national average.

$2,856.76 / month

Total interest
$588,430
Total paid
$1,028,430
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$110k$220k$330k$440k0612182430Year

How it works

A full Colorado payment is more than principal and interest. At the state's 0.51% effective property tax rate, a $550,000 home owes about $2,805 a year in tax, and homeowners insurance averages roughly $3,000 a year here. Together those add about $484 to the monthly payment before any HOA dues or PMI.

Colorado's median household income is about $92,000, or $7,667 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,147 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in Colorado sell in about 30 days on average.

Frequently asked questions

What is a typical mortgage payment in Colorado?
On the state's roughly $550,000 median home with 20% down, the loan is about $440,000. Principal and interest depend on your rate; on top of that, Colorado's 0.51% effective property tax rate and about $3,000 a year in homeowners insurance add roughly $484 per month to the payment.
How much are property taxes on a home in Colorado?
Colorado's effective property tax rate averages about 0.51% of market value — roughly $2,805 a year on the $550,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in Colorado?
The average Colorado homeowners policy runs about $3,000 a year. Colorado pairs one of the lowest state sales-tax rates and lowest property tax rates with high home prices along the Front Range. Wildfire and hail risk push insurance premiums well above the national average.
Can I afford a home in Colorado on the median income?
Colorado's median household income is about $92,000 a year, or $7,667 a month. Lenders generally want the full housing payment under about 28% of that — roughly $2,147 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in Colorado?
A for-sale home in Colorado spends about 30 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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