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Colorado Mortgage and Refinance Rates

On Saturday, March 25, 2023, the national average 30-year fixed mortgage APR is 6.83%. The national average 30-year fixed refinance APR is 6.89%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

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Colorado mortgage overview

As of Saturday, March 25, 2023, current interest rates in Colorado are 6.86% for a 30-year fixed mortgage and 6.12% for a 15-year fixed mortgage.

High home prices can impact the type of loan and down payment you’ll need if you’re getting a mortgage in Colorado. The average home value as of December 2022 was just over $571,000, according to Zillow. With the conforming loan limit set at $726,200 in most areas (though slightly higher in Denver County and other more expensive areas) for 2023, you can easily shop for conventional mortgages. Double-check the FHA loan limits in the area where you're shopping to see what you might qualify for.

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

Top 5 Bankrate mortgage lenders in Colorado

  • First Mortgage Direct
  • Sage Mortgage
  • Interfirst Mortgage Company
  • LoanMonkey


Bankrate helps thousands of borrowers find mortgage and refinance lenders every day. To determine the top mortgage lenders, we analyzed proprietary data across more than 150 lenders to assess which on our platform received the most inquiries within a three-month period. We then assigned superlatives based on factors such as fees, products offered, convenience and other criteria. These top lenders are updated regularly.

First Mortgage Direct

First Mortgage Direct is the online lending division of First Mortgage Solutions, a brick-and-mortar lender based in Kansas City, Missouri. The lender doesn’t charge origination fees or other hidden costs, nor participate in any gimmicky specials or limited-time offers.


  • Borrowers assigned readily available loan officer to work with via phone or email
  • No origination or hidden fees
  • Loans for purchases, first-time homebuyers and refinancing


  • Not available in every state
  • Limited call center hours for general inquiries

Read Bankrate's First Mortgage Direct review.

Sage Mortgage

Sage Mortgage is an online mortgage company that both underwrites loans and works with multiple wholesale lenders. The company can help you secure a preapproval in one to two days, and the typical closing takes 27 days.


  • Works with multiple wholesalers to offer competitive rates and fast cycle times
  • Dedicated loan officer works with borrowers throughout the entire process


  • Doesn’t offer VA loans
  • Doesn’t offer home equity loans or home equity lines of credit (HELOCs)

Read Bankrate's Sage Mortgage review. is a direct online lender established in 2016 that provides a completely online process where rates, loan preapprovals and resources are available 24/7. The lender offers a variety of mortgage options, including conventional and jumbo fixed-rate and adjustable-rate mortgages and bridge loans.


  • No commissions or fees charged
  • Smart technology automatically looks for and applies discounts to eligible borrowers
  • Automated process yields a preapproval letter in three minutes
  • Will beat competitor's offer or give you $100 (only available to applicants who go directly through Better)


  • No branch locations
  • No home equity lines of credit (HELOCs) or home equity loans
  • Some government loans not available

Read Bankrate's mortgage review.

Interfirst Mortgage Company

Interfirst Mortgage Company is an online-only mortgage lender headquartered in Chicago, Illinois. Preapprovals with Interfirst typically take one day, and closings usually happen in 30 to 45 days. Interfirst does not offer discounts to current customers, but it also doesn’t charge points, application fees, lender fees or other hidden fees.


  • Online application process
  • Speedy preapproval
  • No points or hidden fees


  • Doesn’t offer government-insured loans like FHA, VA or USDA loans
  • Requires a higher credit score to qualify
  • Does not consider alternatives to traditional credit scores, like rent payment history

Read Bankrate's Interfirst Mortgage Company review.


LoanMonkey, a mortgage broker and lender, offers “The Online Everything Mortgage” that allows borrowers to manage their loan applications completely online. The broker and lender was founded in 2019 by mortgage industry veterans and animal enthusiasts Sean Marsh and Christopher Russow, and is headquartered in San Diego, California.


  • Streamlined application managed online; takes approximately 15 minutes to complete
  • Low overhead can yield lower rates
  • Closings average 30 days


  • Only available in some states
  • Doesn’t offer some specialized mortgages, including construction and USDA loans

Read Bankrate's LoanMonkey review.

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, attend an approved homebuyer education course and contribute at least $1,000 toward the home’s purchase.
  • 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.

Colorado mortgage resources