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Colorado Mortgage and Refinance Rates

Jeff Ostrowski Written by
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Jeff Ostrowski
Chris Jennings Edited by
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Chris Jennings
Thomas Brock, CFA, CPA Reviewed by
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Thomas Brock, CFA, CPA
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Updated on May 24, 2025
On Saturday, May 24, 2025, the national average 30-year fixed mortgage APR is 7.03%. The national average 30-year fixed refinance APR is 6.99%, according to Bankrate's latest survey of the nation's largest mortgage lenders.
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Current mortgage rates in Colorado

As of Saturday, May 24, 2025, current interest rates in Colorado are 7.17% for a 30-year fixed mortgage and 6.33% for a 15-year fixed mortgage.

In line with national trends, mortgage rates in Colorado have been steadily increasing, and could remain elevated throughout 2025. Like mortgage rates everywhere, the actual rates you qualify for will depend on things like your exact location and credit score. To secure the best mortgage and refinance rates in Colorado, it’s a good idea to shop around and compare offers from at least three lenders.

Refinance rates in Colorado

Like home purchase rates, refinance rates in Colorado are now higher than they were in recent years, eliminating the savings opportunity for many homeowners. Still, you might have more equity now thanks to higher home values, which could mean cashing out is an option for you.

Learn more: Why and how to do a cash-out refinance

National mortgage rates by loan type

Product Interest Rate APR
30-Year Fixed Rate 6.97% 7.03%
15-Year Fixed Rate 6.15% 6.25%
30-Year Fixed Rate FHA 6.94% 6.99%
30-Year Fixed Rate VA 6.98% 7.02%
30-Year Fixed Rate Jumbo 6.96% 7.02%

Rates as of Saturday, May 24, 2025 at 6:30 AM

Colorado mortgage rate housing market statistics and trends

The median single-family home sale price in Colorado was $584,990 as of April 2025, according to the Colorado Association of Realtors. That gain, plus today’s higher mortgage rate environment, could make housing affordability a challenge for some buyers, depending on where you’re looking.

Still, Coloradans are making moves. Home sales in the state increased by more than 2 percent year-over-year in February 2025, according to ATTOM.

  • Median single-family home sales price, April 2025: $599,000
  • Median condo/townhome sales price, April 2025: $407,000
  • Average days on market, April 2025: 42

Source: Colorado Association of Realtors

Mortgage options in Colorado

Known for its outdoor activities and diverse economy, Colorado has experienced strong growth in home prices. If you’re looking to get a mortgage in Colorado, there are several options:

  • Colorado conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 45 percent. If you make a down payment of less than 20 percent, you’ll need to pay private mortgage insurance (PMI), as well.
  • Colorado FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to obtain a loan insured by the Federal Housing Administration (FHA). If you have a down payment of at least 3.5 percent, you could qualify for this type of loan with a credit score as low as 580.
  • Colorado VA loans: If you’re a veteran or active-duty member of the military, you might qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25 percent to 2.15 percent to start.
  • Colorado jumbo loans: If you’re looking to buy a more expensive property — many of which exist in luxury mountain towns like Aspen, Vail and Telluride — you may want to look into jumbo loans. These mortgages exceed the conforming loan limits and typically require down payments of 10 percent or more and a credit score of at least 680, although requirements vary among lenders.

First-time homebuyer programs in Colorado

The Colorado Housing and Financing Authority (CHFA) helps connect first-time homebuyers to more affordable loans, as well as down payment or closing cost assistance or both. Here’s an overview of the agency's offerings:

  • CHFA Home Purchase Loans: These loans are available through partnering lenders and offer affordable rates, low (or no) mortgage insurance, closing cost support and free homebuyer education classes. To qualify, your income must be within CHFA guidelines and your credit score must be at least 620. You also must attend an approved homebuyer education course and contribute at least $1,000 toward the home’s purchase.
  • CHFA Down Payment Assistance: Depending on what you qualify for through the CHFA, you might be eligible for a grant of up to $25,000 or 3 percent of your mortgage (whichever is less), or a deferred second mortgage for up to $25,000 or 4 percent of your first mortgage (again, whichever is less). You don’t have to repay the grant.

Keep in mind that the state’s housing authority isn’t the only option for assistance. Some local programs are available to help low- and moderate-income buyers — including first-time buyers — too. For example, metroDPA is a down payment assistance program for homeowners looking to buy along the Front Range of Colorado.

Learn more: Colorado first-time homebuyer assistance programs

How to find the best mortgage rate in Colorado for you

  1. Step 1: Strengthen your credit score

    Step 1: Strengthen your credit score - Long before you start looking for a mortgage lender or applying for a loan, give your finances a checkup, and improve your credit score if needed.

  2. Step 2: Determine your budget

    To find the right mortgage, you’ll need a good handle on how much house you can afford.

  3. Step 3: Know your mortgage options

    There are a few different types of mortgages.

  4. Step 4: Compare rates and terms from several lenders

    Rate-shop with at least three different banks, credit unions or mortgage companies or all three to get the best deal.

  5. Step 5: Get preapproved for a mortgage

    Getting a mortgage preapproval is the only way to get accurate loan pricing for your specific situation.

Learn more: How to get a mortgage

Additional Colorado mortgage resources

Meet our Bankrate experts

Written by: Jeff Ostrowski, Principal Reporter, Mortgages

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.

Read more from Jeff Ostrowski

Edited by: Chris Jennings, Editor, Home Lending

I’ve been writing and editing about mortgages and personal finance since 2016. At Bankrate, my primary focus involves covering mortgage and real estate trends. I enjoy simplifying complex mortgage topics for first-time homebuyers and homeowners alike. I graduated from Illinois State University with a Bachelor of Arts in English.

Read more from Chris Jennings

Mortgage rates in other states