Current Colorado Mortgage Rates
Average market rates for December 03, 2025 in Colorado are 6.26% for 30-year fixed purchase and 6.35% for 30-year fixed refinance
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.26% | 6.29% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
Mortgage Rate Trends in Colorado
| Product | Rate | APR |
|---|---|---|
| 30-year Fixed Purchase | 6.26% | 6.29% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
Coloradans tend to pay higher mortgage rates than other Americans. Official figures reveal that, in 2023, the average in the state was 7.08% compared with 6.97% nationally.
Often, this can arise because the average credit score in a state is unusually low. High scores correlate with low rates for both individuals and states. But that’s not the case for the Centennial State.
Indeed, in March 2024, the average score in the state was 720 compared with 705 nationally, according to Equifax. So, if it’s not credit scores, what else might be pushing mortgage rates higher than average in Colorado?
Well, sometimes, it is down to state regulation of the mortgage industry. That can add to lenders’ compliance costs if it’s particularly strict.
When we looked into that, we soon found an article by Herring Bank that talked about “Grasping the regulatory circumstances that influence mortgage approvals in Colorado” and the “nuances of state guidelines.” However, the examples in the article sounded a lot like federal regulations, and no evidence was provided about Coloradans being subject to especially onerous rules.
Shop around
The other factors that sometimes influence a state’s mortgage rates include how competitive lenders are in the state — and whether residents tend to shop around different lenders for the best deal.
That last one may apply. A federal regulator says, “Mortgage data shows that borrowers could save $100 a month (or more) by choosing cheaper lenders.”
If enough Coloradans are failing to acquire and compare quotes from multiple lenders, that possibly accounts for the state’s higher rates. Of course, you can beat the average by comparison shopping for your loan.
Colorado Purchase Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Purchase | 5.39% | 5.44% |
| 15-year Fixed Jumbo Purchase | 6.11% | 6.14% |
| 30-year Fixed Purchase | 6.26% | 6.29% |
| 30-year Fixed Jumbo Purchase | 6.81% | 6.83% |
Colorado Refinance Rates
| Product | Rate | APR |
|---|---|---|
| 15-year Fixed Refinance | 5.37% | 5.41% |
| 15-year Fixed Jumbo Refinance | 6.09% | 6.12% |
| 30-year Fixed Refinance | 6.35% | 6.37% |
| 30-year Fixed Jumbo Refinance | 6.82% | 6.84% |
Colorado ARM Rates
| Product | Rate | APR |
|---|---|---|
| 5/6 Arm (purchase) | 6.06% | 6.10% |
| 5/6 Arm (refinance) | 6.04% | 6.07% |
| 5/6 Jumbo Arm (purchase) | 5.87% | 5.88% |
| 5/6 Jumbo Arm (refinance) | 5.91% | 5.92% |
How we source rates and rate trends
Colorado real estate trends
Home price trends
Redfin tracks real estate trends in Colorado. And it says the median sale price for a home in the state in October 2024 was $639,700.
Meanwhile, the Federal Reserve Bank of St. Louis found the median home sale price nationwide that same month was $437,300.
Perhaps you shouldn’t be surprised by high property prices. ChooseColorado.com boasts of the state’s inviting business climate, its arts, culture, recreation and wellness resources, ”all at a lower cost than our coastal counterparts.” And that’s before even mentioning the spectacular and diverse scenery.
No wonder so many people want to live in Colorado. Unfortunately, its popularity means it’s never going to be cheap to buy a home here.
Still, the market here was sluggish between November 2023 and October 2024, with home prices rising slowly and home equity actually dipping.
Of course, some parts of the state will have experienced much higher growth in home sale prices than the average. And some will have seen those prices barely move or perhaps even fall.
Here’s Redfin’s take on Colorado’s hottest hot spots:
Top 10 Metros in Colorado with the Fastest Growing Sales Price
- Steamboat Springs, CO 55.2%
- Timnath, CO 31.4%
- Westminster, CO 16.4%
- Erie, CO 15.2%
- Dakota Ridge, CO 10.8%
- Greeley, CO 10.6%
- Lakewood, CO 10.3%
- Pueblo West, CO 9.9%
- Berthoud, CO 9.0%
- Northglenn, CO 8.9%
First-time homebuyers and the selling environment
Meanwhile, high home prices create real difficulties for first-time homebuyers. They must save chunky sums for their down payments and closing costs. Read below the down payment assistance available to many Coloradan first-time buyers.
Still, there’s some good news for them. Redfin says the median home sale price rose only 3% over the 12 months ending in October 2024. But wages and salaries nationwide increased 5.6% over that same period.
So, first-time buyers in the Centennial State may still have a mountain to climb. But it’s not as steep as it might have been.
And there’s other good news from Redfin for them. The number of homes sold over that October-to-October period rose 11.1%, which might suggest that the property market is freeing up a little.
And, by October 2024, the period between listing and selling grew by 10 days to 46 days. So, motivated sellers might be more willing to entertain offers.
Equity
Home equity is the amount by which your home’s market today exceeds your current mortgage balance. It’s part of your net wealth, but it’s also vital if you’re thinking of tapping your equity in a cash-out refinance or second mortgage.
Once your equity climbs above 20% of your home’s value, you might want to consider refinancing an FHA or USDA loan to a conventional mortgage. That could see you stop paying mortgage insurance premiums each month.
CoreLogic tracks home equity and it says, “For the third quarter of 2024, the average U.S. homeowner gained approximately $5,700 in equity during the past year.”
Unfortunately, that growth wasn’t reflected in the Centennial State. Indeed, Coloradan homeowners lost on average $17,000 in equity. It’s small consolation that homeowners in Hawaii lost twice as much: $34,000.
Negative equity (aka being “underwater”) occurs when your mortgage balance exceeds your home’s market value, which can be a miserable situation in which to find yourself. It remains an issue for some Coloradans but CoreLogic classifies its impact within the state as only moderate.
More on housing prices in Colorado
Prices for different types of homes vary. Here is a breakdown of different property types and cities, according to Redfin.
The average sales prices by type of property are around:
- $662,600 for a single-family home
- $526,400 for a townhouse
- $688,200 for a condo/co-op
The median sales price in some of Colorado’s larger cities are:
- Denver – $587,750
- Colorado Springs – $464,000
- Aurora – $477,000
- Fort Collins – $558,500
Colorado Realtors® are pessimistic: Lethargic sales, flat prices, and somber demand from buyers define housing markets in the Centennial State, they say. In many markets, including Denver, around half of the homes being sold are below the asking price.
First-Time Home Buyer Programs in Colorado
When traditional mortgage products are not affordable or workable for certain homebuyers, down payment assistance programs can expand homeownership possibilities. Even when a purchaser earns enough money to meet the monthly mortgage payments, there can be a significant challenge in finding the down payment and closing costs.
Assistance can be offered in various forms such as a grant, forgivable loan, deferred loan or second mortgage that’s repaid in parallel with your first mortgage.
In Colorado, different areas offer their own programs. Some of these programs are:
- Boulder County provides down payment assistance for homes that are purchased around the city of Boulder. First-time buyers can receive up to 10% of the purchase price but cannot go over $40,000.
- metroDPA in Denver offers households down payment assistance and home loans. A credit score above 640 and an income of up to $176,700 a year qualifies households for this support.
- The City of Aurora has a Home Ownership Assistance Program providing first-time homebuyers who meet eligibility requirements with up to $10,000. Homebuyer education classes must be completed to qualify for this program.
- Pueblo County supplies down payment assistance for first-time homebuyers buying a home within the county limits.
In addition, the Colorado Housing and Finance Authority offers statewide programs. These can take the form of grants, which never need to be repaid, or deferred second mortgages, which are repayable only when you sell, refinance, move, pay off your loan or similar.
To find more programs in Colorado, do a web search for ‘’first-time homebuyer programs” and the city or area you want to buy in.
Closing costs in Colorado
In Colorado and nationwide, closing costs (also known as settlement costs), are commonly between 2% and 5% of the loan’s value and are the final funds needed to complete a real estate transaction. These expenses are usually paid out of pocket.
If, for example, you are buying a home in Denver, which has a median sale price of $587,750, closing costs could range anywhere between $11,750 and $29,388.
However, if the buyer has paid earnest money (a sum of money put down to demonstrate you’re serious about purchasing the property), the amount will be deducted from the buyer’s closing costs. That will reduce the total amount owed at closing. Earnest money is usually 1-3% of the property’s price.
Here is a list of some of the closing costs typically paid for by the buyer:
- Application fee
- Recording fee
- Origination or underwriting fee
- Appraisal fee
- Credit report fee
- PMI premium
- Title services
- Survey fee
- Title insurance premium
- Attorney costs or closing fees
The purchaser may also have to pay pro-rata any property taxes and homeowners’ association fees that have already been paid by the seller.
Most Common Mortgage Types in Colorado
- Conventional: 76,849 loans
- FHA: 11,286 loans
- VA: 11,182 loans
- USDA: 222 loans
Top Purchase Lenders in Colorado by Volume
- Fairway Independent Mortgage Corporation: 4,946 loans
- Rocket Mortgage, LLC: 3,636 loans
- Loandepot.com, LLC: 2,640 loans
- Ent Credit Union: 2,550 loans
- Cherry Creek Mortgage, LLC: 2,223 loans
- Unknown: 2,125 loans
- Crosscountry Mortgage, LLC: 1,962 loans
- Firstbank: 1,677 loans
- Academy Mortgage Corporation: 1,673 loans
- Guaranteed Rate, Inc.: 1,667 loans
Top Refinance Lenders in Colorado by Volume
- U.S. Bank: 1,040 loans
- Rocket Mortgage, LLC: 974 loans
- Firstbank: 967 loans
- American Advisors Group: 818 loans
- Ent Credit Union: 767 loans
- Canvas Credit Union: 495 loans
- Unknown: 495 loans
- Wells Fargo Bank: 457 loans
- American Financing Corporation: 435 loans
- Finance Of America Reverse LLC: 432 loans
Top Cash-Out Refinance Lenders in Colorado by Volume
- Rocket Mortgage, LLC: 4,728 loans
- American Financing Corporation: 2,528 loans
- Loandepot.com, LLC: 1,291 loans
- Bellco: 1,059 loans
- Freedom Mortgage Corporation: 1,018 loans
- Nationstar Mortgage LLC: 988 loans
- Home Point Financial Corporation: 915 loans
- Wells Fargo Bank: 837 loans
- Ent Credit Union: 801 loans
- Pennymac Loan Services, LLC: 784 loans
