Mortgage Calculator MLcalc

Mortgage Calculator /With Taxes and PMI /Colorado

Colorado Mortgage Calculator

Set to Colorado’s own property tax rate of 0.49% and its median home price, so the payment below reflects what owning here actually costs — not a national average.

$
% ($115,000)
years
%
$/year
$/year
$/month
%
$/month
Amortization schedule
$3,334
Monthly payment
$2,932
Principal & interest
$235
Taxes
$168
Insurance
$0
HOA fees

Loan balance over time

Balance Principal paid $460,000 Interest paid $595,432
20262056
Total of 360 payments$1,200,362
Principal$460,000
Interest$595,432
Taxes$84,540
Insurance$60,390
HOA fees$0
P&I 87.9% Taxes 7.0% Insurance 5.0%
15- vs 30-year term at 6.58%
15-year
$4,027/mo P&I
$264,923 total interest
30-year · current
$2,932/mo P&I
$595,432 total interest
The 15-year term saves $330,509 in interest. Which term is right for you?

What these numbers come from

Median home value
$574,600
Median tax bill
$2,828
Effective tax rate
0.49%
Rank of 51
42nd highest

Colorado taxes property at about 0.49% of value against 0.89% nationally. On a $575,000 home that is $192 a month less than the same house would cost in taxes at the national rate. Rates are set by counties, cities and school districts, so your own bill will differ from the state median — put your actual figure in the property tax field and the payment updates.

Tax and home value figures: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Insurance is estimated at 0.35% of home value per year — there is no comparable public per-state dataset, so treat it as a placeholder and replace it with your own quote. The interest rate is the national Freddie Mac 30-year average of 6.58%; this site does not publish state-level rate quotes.

Monthly cost across Colorado home prices

20% down, 30-year fixed at 6.58%, with Colorado property tax of 0.49% and estimated insurance.

Home price Loan P&I Tax/mo Full payment
$345,000 $276,000 $1,759 $141 $2,001
$460,000 $368,000 $2,345 $188 $2,667
$575,000 median $460,000 $2,932 $235 $3,334
$718,000 $574,400 $3,661 $293 $4,163
$862,000 $689,600 $4,395 $352 $4,998

The gap between the P&I column and the last one is what a mortgage quote leaves out. In Colorado taxes alone add $235 a month on a median-priced home.

Amortization schedule

Date Principal Interest Tax, Ins. & HOA Balance
Aug $409 $2,522 $403 $459,591
Sep $412 $2,520 $403 $459,179
Oct $414 $2,518 $403 $458,765
Nov $416 $2,516 $403 $458,349
Dec $418 $2,513 $403 $457,930
2026 $2,070 $12,589 $2,013 $457,930
Jan $421 $2,511 $403 $457,510
Feb $423 $2,509 $403 $457,086
Mar $425 $2,506 $403 $456,661
Apr $428 $2,504 $403 $456,233
May $430 $2,502 $403 $455,803
Jun $432 $2,499 $403 $455,371

Refinancing in Colorado

The arithmetic is the same everywhere: refinancing pays off when the monthly saving clears the closing costs before you sell or refinance again. What differs by state is the cost of getting there — recording fees, transfer and mortgage taxes, and whether an existing tax assessment survives the new loan.

Work the break-even with the refinance calculator, or check this week’s national average rates.

Colorado home loans in detail

Colorado Mortgage Overview

Colorado, the 'Centennial State' earned its nickname because it joined the union 100 years after the Declaration of Independence. It's also known as the 'Colorful State' and is the reason many first-time homebuyers move here — the majestic scenery including mountains and plains can't be beat. Whether you love sunshine, snow, skiing, or hiking, there's something for everyone in Colorado.

The median home value in Colorado is around $605,000 and over 65 percent of the homes are owner occupied.

Thinking about living in Colorado? Here are your home loan options:

Colorado conventional loans

Borrowers with great credit and low debt levels can take advantage of the low conventional loan rates. This non-government backed loan offers great terms, but without a 20 percent down payment, you'll pay Private Mortgage Insurance. Fortunately, you can cancel it once you pay your balance down to 80 percent of the home's value.

Colorado FHA loans

Borrowers with slightly lower scores or higher debt-to-income ratios find great rates with Colorado FHA loans. The FHA doesn't underwrite or fund these, loans, you'll still use a lender, but you'll have more flexible guidelines including a 580 credit score minimum and 3.5 percent down payment. If you have a credit score between 500 - 579, a 10 percent down payment will get your foot in the door.

Colorado VA loans

The VA department rewards those who served our country with a 100 percent loan program. Colorado VA loans have the most flexible guidelines, making it easy for veterans to buy their first home. With just a 620 credit score and a 50 percent debt-to-income ratio, you could be on your way to owning your first home.

Colorado USDA loans

If rural living is something you enjoy and you have low to moderate-income, the USDA loan is another 100 percent funding option. You'll need a 640 credit score and debt-to-income levels of 41 percent or lower to qualify.

First-Time Homebuyer Programs in Colorado

The Colorado Housing Finance Authority helps 10,000 people a year buy a home in Colorado. With a median loan amount of $279,000, they help borrowers with these programs:

Down payment assistance grant

Receive up to 3 percent of your first mortgage with no repayment required

Second mortgage loan

Receive up to 4 percent of your first mortgage to help with down payment and closing costs. No payments are required until you sell the home or refinance the loan.

CHFA loans

Borrowers with at least a 620 credit score, and who don't make more than the CHFA income limits may qualify for a CHFA 30-year fixed-rate mortgage with down payment assistance. Borrowers must contribute at least $1,000 of their own funds and prove they'll live in the home as their primary home to qualify.

Colorado mortgage FAQ

How much is property tax on a home in Colorado?
Colorado homeowners pay an effective property tax rate of about 0.49 percent of home value — the 42nd highest of the 50 states and DC. On the state's median home value of $574,600 that works out to roughly $2,818 a year, or $235 a month added to the mortgage payment. The figures come from the Census Bureau's American Community Survey 2024 1-year estimates; your own bill depends on the county and city rates where the home sits.
What is the monthly payment on a median-priced Colorado home?
At $575,000 with 20 percent down and the current 6.58 percent national 30-year fixed average, principal and interest come to about $2,932 a month. Adding Colorado property tax of roughly $235 a month and an estimated $168 of homeowner insurance brings the full payment to around $3,334.
What types of home loans are offered in Colorado?
Colorado buyers can use conventional loans with low rates and PMI that cancels once you owe less than 80 percent of the home's value, FHA loans with a 580 credit score and 3.5 percent down or a 500 to 579 score with 10 percent down, VA loans offering 100 percent financing with a 620 score, and USDA loans with zero down, a 640 score, and a debt ratio of 41 percent or less.
What first-time homebuyer programs does Colorado offer?
The Colorado Housing Finance Authority, or CHFA, helps about 10,000 buyers a year. It offers a down payment assistance grant of up to 3 percent of your first mortgage with no repayment required, a second mortgage of up to 4 percent repaid only when you sell or refinance, and CHFA 30-year fixed-rate loans for borrowers with at least a 620 credit score who meet income limits.
Are there zero-down mortgage options in Colorado?
Yes. Colorado VA loans provide 100 percent financing for veterans with a 620 credit score and debt-to-income ratios up to 50 percent, and USDA loans fund the full purchase for rural, low to moderate-income buyers with a 640 score. CHFA down payment assistance can also cover 3 to 4 percent of the mortgage, shrinking the cash needed at closing.

Property tax in every state

Effective rate on owner-occupied value, highest bills first in each column.