Mortgage Calculator Colorado 2026: Payment, Property Tax & PMI
This mortgage calculator for Colorado estimates your full monthly payment — principal & interest, property tax, homeowners insurance and PMI — plus the small state documentary fee. Enter your own rate; everything is calculated privately in your browser.
A mortgage calculator for Colorado estimates the full monthly cost of a Colorado home loan: principal and interest from standard amortization, plus property tax, homeowners insurance and private mortgage insurance (PMI) when you put down less than 20%. Colorado has no state transfer tax, only a documentary fee of one cent per $100 that the buyer pays, though a few mountain resort towns add their own transfer tax.
How the Mortgage Calculator Colorado Formula Works (Worked Example)
Principal and interest use the standard amortization formula M = P × r(1+r)n ÷ ((1+r)n − 1), where P is the loan amount, r the monthly rate (annual rate ÷ 12) and n the number of payments. Property tax is the home price × your local rate ÷ 12, insurance is your annual premium ÷ 12, and PMI is the loan amount × your PMI rate ÷ 12. Example: a $555,000 Colorado home, 10% down, 30-year fixed at a user-entered 6.5% (click Load Example above to reproduce it).
| Item | Inputs | Monthly |
|---|---|---|
| Principal & interest | $499,500 loan, 6.5%, 360 payments | $3,157.18 |
| Property tax | 0.50% of $555,000 ($2,775/yr) | $231.25 |
| Homeowners insurance | $2,150/yr (example — use your quote) | $179.17 |
| PMI | 0.6% of $499,500 ($2,997/yr) | $249.75 |
| Total monthly payment | $3,817.35 | |
| Documentary fee (one-time, buyer) | $555,000 ÷ $100 × $0.01 | $55.50 |
Over 30 years this loan pays about $637,080 in interest. Your rate is an input, not an assumption — check the current weekly national average in Freddie Mac’s Primary Mortgage Market Survey and compare lender Loan Estimates.
Colorado Property Tax Rate and Your Monthly Payment
The Tax Foundation (Property Taxes by State and County, 2026 edition, from Census American Community Survey data for 2020–2024) puts Colorado’s statewide effective property tax rate at about 0.50% of owner-occupied home value, among the lowest in the country. Colorado taxes homes on a residential assessment rate applied to actual value, and the legislature has changed that rate several times since 2023, so bills can move even when local mill levies do not. Use the figure from the county assessor or the listing’s last tax bill for your address.
| Local rate | Annual tax on $555,000 | Added to monthly payment |
|---|---|---|
| 0.38% | $2,109 | $175.75 |
| 0.50% (statewide default) | $2,775 | $231.25 |
| 0.75% | $4,163 | $346.88 |
Colorado Closing Costs: Documentary Fee and Local Transfer Taxes
Colorado has no state real estate transfer tax. Instead the county clerk collects a documentary fee of one cent per $100 of consideration over $500, or $0.10 per $1,000, under C.R.S. § 39-13-102, and the buyer pays it. About a dozen home-rule mountain resort towns, such as Vail (1%) and Aspen, charge their own real estate transfer tax. These predate TABOR, which bars new ones, so check whether your town is one of them.
| Colorado item | Amount | Usually paid by |
|---|---|---|
| State documentary fee (C.R.S. § 39-13-102) | $0.01 per $100 — $55.50 on $555,000 | Buyer (grantee) |
| Local real estate transfer tax (some resort towns only) | Varies — e.g. Vail 1% | Set by town ordinance and contract |
| Escrow deposits for tax and insurance | Set by your lender — see your Loan Estimate | Buyer |
| Lender, appraisal and title charges | Vary by lender and title company — compare Loan Estimates | Negotiable |
Some costs are negotiable, and sellers sometimes cover part of a buyer’s closing costs as a concession.
How Colorado Mortgage Rates Affect Your Payment
Rates in Colorado follow national mortgage markets and vary by lender, credit score, down payment and loan type. The 6.8% default is an example rate, not a quoted average. On a $555,000 home with 20% down, it produces a monthly principal and interest payment of about $2,895. A 0.25% rate increase adds roughly $74 to that payment, so shopping multiple lenders can save thousands over the life of the loan.
Adjustable-rate mortgages (ARMs) often start lower but carry rate-reset risk. FHA loans (3.5% down), VA loans (0% down for eligible veterans) and USDA loans (0% down in eligible rural areas) are alternatives to a conventional loan in Colorado.
First-Time Buyer Programs in Colorado
The Colorado Housing and Finance Authority (CHFA) offers first mortgage loans and down payment assistance for eligible buyers. Check CHFA for current income and price limits.
FHA loans are available nationwide with 3.5% down for borrowers with a 580+ credit score. VA loans require no down payment and no PMI for qualified veterans and service members.
If your down payment is below 20%, PMI on a $499,500 loan adds about $250/month at a 0.6% annual rate. The Urban Institute puts typical PMI at roughly 0.46%–1.5% of the loan per year depending on credit score. PMI can be removed once your loan-to-value ratio reaches 80%, so extra payments accelerate the timeline to dropping PMI.
Last updated: October 2026. Estimates only — confirm figures with your lender, title company and local tax office.
Frequently Asked Questions
What is the average mortgage rate in Colorado in 2026?
Colorado mortgage rates track national averages and change weekly. Check the Freddie Mac Primary Mortgage Market Survey for the current 30-year fixed average, then compare quotes from several lenders - your rate depends on credit score, down payment and loan type.
What is the average monthly mortgage payment in Colorado?
It depends on price, rate and local taxes. As an example, a $555,000 home with 20% down at 6.8% comes to about $3,305 a month in principal, interest, taxes and insurance, assuming a 0.50% property tax rate and $2,150 a year for insurance. Enter your own numbers above.
Do I need PMI in Colorado?
Yes — if your down payment is less than 20%, lenders in Colorado require Private Mortgage Insurance (PMI) on conventional loans. The Urban Institute puts typical PMI at about 0.46%–1.5% of the loan amount per year, depending on credit score. PMI is removed once you reach 20% equity.
What is the average home price in Colorado?
Home prices change every month and vary widely by city and county, so this page does not quote a statewide median. The $555,000 default in the calculator is only an example — enter the price of the home you are considering.
What is the property tax rate in Colorado?
The Tax Foundation’s 2026 edition, using Census data for 2020-2024, puts Colorado’s statewide effective property tax rate at about 0.50% - roughly $2,775 a year on a $555,000 home. Residential assessment rates have changed several times since 2023, and mill levies vary by county and district.
Does Colorado have a real estate transfer tax?
Colorado has no state transfer tax. The buyer pays a documentary fee of one cent per $100 of the price under C.R.S. 39-13-102, which is $55.50 on a $555,000 home. About a dozen mountain resort towns, such as Vail and Aspen, charge their own real estate transfer tax.
What is the monthly payment on a $555,000 house in Colorado?
With 10% down and a 30-year fixed loan at 6.5%, principal and interest is about $3,157 a month. Adding 0.50% property tax ($231), $2,150 a year insurance ($179) and 0.6% PMI ($250) brings the total to about $3,817 a month.