Mortgage Rates in Colorado

Compare today's average mortgage rates in the state of Colorado. Bankrate aggregates mortgage rates from multiple sources to provide averages for Colorado.

Colorado Mortgage Interest Rates Saturday, January 16
Loan Term Interest Rate Change 1 Day Rate Last Week
30-year fixed mortgage rate 2.88% trend-up-red 0.02% 2.86%
15-year fixed mortgage rate 2.34% trend-up-red 0.01% 2.33%
5/1 ARM mortgage rate 3.11% trend-up-red 0.17% 2.94%
30-year fixed jumbo mortgage rate 2.91% trend-up-red 0.01% 2.90%
30-year fixed refinance rate 2.96% trend-up-red 0.01% 2.95%

Lenders nationwide provide weekday mortgage rates to our comprehensive national survey to help consumers in their mortgage process. To learn more about the different rate averages Bankrate publishes above, see Understanding Bankrate's Rate Averages.

Today's 30-year fixed rate:

Current rates in Colorado are 2.88% for a 30-year fixed, 2.34% for a 15-year fixed, and 3.11% for a 5/1 adjustable-rate mortgage (ARM).

Learn more about today's mortgage rates.

Colorado mortgage overview

High home prices can impact the type of loan and down payment you’ll need if you’re getting for a mortgage in Colorado. Statewide, the median home value (as of November 2019) was just under $400,000 — which is safely below the $510,400 baseline limit for mortgages in Colorado in 2020. This means you can easily shop for conventional mortgages. If you qualify for a VA loan, most limits set for cities exceed this median home price. However, you’re considering an FHA loan, be aware that some counties have FHA loan limits that are below this median price.

Many properties, especially in high-demand areas such as Denver, can exceed the county limit for conforming mortgages. Though many counties with more expensive real estate have been able to set a higher limit for conforming mortgages.

Still, if the home of your dreams exceeds the limit, you’ll need to consider a jumbo mortgage. These loans often have higher down payments and different financial requirements than traditional mortgages (like being able to show 6-12 months of income in a bank account), depending on the lender.

First-time homebuyer programs in Colorado

The Colorado Housing and Financing Authority (CHFA) offers loans and down payment and/or closing cost assistance for qualifying first-time homebuyers.

  • CHFA’s home purchase 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, buyers must have an income that falls within CHFA guidelines, a mid-credit score minimum of 620, a maximum debt-to-income ratio of 50 percent and limited savings for a down payment or closing costs.
  • CFHA’s down payment assistance grant can cover up to 3 percent of the amount of a 30-year CHFA mortgage. (The money can also be used to cover closing costs.) The grant does not have to be repaid.

Colorado mortgage refinancing

If you’re thinking about refinancing your Colorado mortgage, you’ll have to provide a reason or purpose on your application per the Code of Colorado Regulations. Don’t worry about providing an essay — you can simply provide any reason for your refinance, and it can be as straightforward as wanting to save money.