Colorado Mortgage Guide 2026
Everything you need to know about getting a mortgage in Colorado — FHA loan limits by county (from ski resort highs to eastern plains floor), CHFA assistance, property taxes, closing costs, and the 2026 Colorado housing market outlook.
Colorado Loan Limits by County (2026)
Colorado has some of the widest loan-limit variation in the country – from the national floor on the eastern plains to the national ceiling in resort counties like Eagle, Garfield, and Pitkin. Figures below are pulled directly from HUD’s official CY2026 mortgage limits lookup.
| County / Area | Conforming (Fannie/Freddie) Limit | FHA Limit | Notes |
|---|---|---|---|
| All other CO counties – 35 total (Alamosa, Archuleta, Baca, Bent, Cheyenne, Conejos, Costilla, Crowley, Custer, Delta, Dolores, Fremont, Huerfano, Jackson, Kiowa, Kit Carson, Las Animas, Lincoln, Logan, Mesa, Mineral, Montezuma, Montrose, Morgan, Otero, Phillips, Prowers, Pueblo, Rio Blanco, Rio Grande, Saguache, San Juan, Sedgwick, Washington, Yuma) | $832,750 | $541,287 | National floor |
| El Paso & Teller (Colorado Springs MSA) | $832,750 | $541,650 | Essentially floor |
| Weld County (Greeley) | $832,750 | $575,000 | |
| Larimer County (Fort Collins) | $832,750 | $634,800 | Northern Front Range |
| Chaffee County | $832,750 | $713,000 | Salida / Buena Vista |
| Gunnison & La Plata (Durango) | $832,750 | $747,500 | |
| Ouray County | $832,750 | $750,950 | |
| Hinsdale County | $832,750 | $563,500 | |
| Denver metro – 10 counties (Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson, Park) | $862,500 | $862,500 | Denver-Aurora-Centennial MSA |
| Boulder County | $879,750 | $879,750 | |
| Grand County | $883,200 | $883,200 | |
| Moffat & Routt (Steamboat Springs MSA) | $1,089,050 | $1,089,050 | |
| Lake & Summit (Breckenridge MSA) | $1,092,500 | $1,092,500 | |
| San Miguel County (Telluride) | $994,750 | $1,045,350 | See flag below* |
| Eagle County (Vail / Edwards) | $1,249,125 | $1,249,125 | National ceiling |
| Garfield & Pitkin (Rifle / Aspen) | See flag below* | $1,249,125 | At FHA ceiling |
Always verify your specific county at HUD’s official FHA limit lookup tool, and confirm conforming limits at FHFA’s conforming loan limit page.
Why FHA and conforming limits differ: Fannie Mae/Freddie Mac conforming loans always use a nationwide baseline of $832,750, even in counties where the FHA formula lands lower. *Spot-check flag: as of this data pull, HUD’s Fannie/Freddie file shows Garfield and Pitkin counties still carrying last year’s ceiling figure rather than the new CY2026 ceiling, and San Miguel’s conforming figure trails its own FHA figure – both are HUD’s live numbers, not typos on our end, but they’re worth re-checking against HUD’s file periodically since HUD updates this data on a rolling basis.
Loan Programs in Colorado
| Program | Down Payment | Credit Score | Notes |
|---|---|---|---|
| Conventional | As low as 3% | 620+ (typical lender minimum) | Verify current lender overlays – Fannie Mae 97% LTV info |
| FHA | 3.5% | 580 (3.5% down) / 500 (10% down) | Verified directly via HUD.gov |
| VA | $0 | No set VA minimum; lender overlays vary | No PMI – verified via VA.gov |
| USDA | $0 | ~640 typical | Property must be in an eligible rural area – USDA eligibility map |
| Jumbo | 10-20% | 700+ typical | Needed above the conforming limit for your county (see table above) |
| CHFA FirstStep (FHA) | 3.5% | 620 | FHA first mortgage + CHFA down payment assistance |
| CHFA SmartStep (Conventional) | As low as 3% | 620 | Conventional first mortgage + CHFA down payment assistance |
CHFA Assistance Programs
The Colorado Housing and Finance Authority (CHFA) is the state’s affordable-homeownership agency. CHFA doesn’t lend directly – its programs are delivered through a network of Participating Lenders. CHFA’s core first-mortgage programs include CHFA SmartStep (conventional, open to repeat buyers), CHFA FirstStep (FHA-insured, restricted to first-time buyers, qualified veterans, or buyers in targeted areas), and CHFA FirstGeneration (for first-generation homebuyers). General requirements verified directly from CHFA: a mid-credit score of 620+, household income under CHFA’s published limits, a CHFA-approved homebuyer education class before closing, and a minimum $1,000 borrower contribution. Borrowers using any CHFA first-mortgage program can pair it with one of two down payment assistance options.
| Program | Assistance Amount | Structure | Key Requirements |
|---|---|---|---|
| CHFA DPA Grant | Up to the lesser of $25,000 or 3% of the first mortgage | True grant – no repayment required | Must pair with a CHFA first mortgage (SmartStep, FirstStep, or FirstGeneration); 620+ mid credit score; CHFA income limits apply |
| CHFA Second Mortgage Loan | Up to the lesser of $25,000 or 4% of the first mortgage | Deferred second mortgage – repayment due at payoff, sale, or refinance | Must pair with a CHFA first mortgage; 620+ mid credit score; CHFA income limits apply |
Borrowers with a permanent disability or first-generation buyers may qualify for up to $25,000 regardless of first-mortgage size. Both DPA options carry a somewhat higher interest rate on the first mortgage.
Income limits matter. CHFA income limits vary by county, household size, and program – there is no single statewide number. Check your specific county and program on CHFA’s official income limits page before assuming you qualify.
Colorado Property Taxes
Colorado’s effective property tax rate is among the lowest in the country, though the amount you actually owe depends on your county’s mill levy and your property’s assessed value.
Key rule: Colorado’s average effective property tax rate is approximately 0.49% of assessed home value – corroborated across multiple 2026 sources – well below the roughly 0.9% national average. Confirm your specific county’s current mill levy and assessment rate directly with the Colorado Division of Property Taxation.
| Purchase Price | Est. Annual Tax (0.49%) | Monthly Escrow |
|---|---|---|
| $400,000 | ~$1,960 | ~$163/mo |
| $550,000 | ~$2,695 | ~$225/mo |
| $700,000 | ~$3,430 | ~$286/mo |
| $1,000,000 | ~$4,900 | ~$408/mo |
A Colorado-specific quirk: the state assesses residential and non-residential property at different percentages of actual value, and that residential assessment rate can shift from year to year under state law. Mountain resort counties also layer in extra special-district mill levies (recreation, water, fire) that can meaningfully raise your effective rate compared with the statewide average. Look up your specific county and district assessment via the Division of Property Taxation.
Closing Costs in Colorado
Closing costs in Colorado typically run 2-5% of the purchase price, covering lender fees, title insurance, recording fees, and prepaid items.
| Fee | Typical Amount | On a $550,000 Purchase |
|---|---|---|
| Loan origination fee | 0-1% of loan | $0-$5,220 |
| Title insurance (lender’s) | Based on loan amount | ~$1,200-$2,000 |
| Title insurance (owner’s) | Based on purchase price (buyer pays in CO) | ~$1,500-$2,500 |
| Closing/escrow fee | Varies; often split with seller | ~$600-$1,200 |
| Appraisal | Paid upfront or at closing | ~$550-$800 |
| Recording fee | County-set | ~$30-$80 |
| Homeowner’s insurance (prepaid) | First year premium | ~$1,200-$2,500 |
Title company, not attorney, state: Colorado closings are customarily handled by a title company rather than requiring an attorney – verified directly via the Colorado Division of Real Estate, which confirms closing “typically takes place in person with the buyer and seller at the title company.” Buyers may still choose to involve an attorney for contract review. Note: there is no county-wide real estate transfer tax in Eagle County – rather, a handful of individual mountain towns (Vail, Avon, Gypsum, Minturn) levy their own local transfer tax, typically in the 1-2% range, so confirm the rate with the specific town before closing.
Colorado Housing Market Overview (2026)
| Area | Market Notes |
|---|---|
| Denver Metro | Colorado’s largest metro; strong job growth and in-migration; higher FHA/conforming limit reflects home values |
| Boulder | High-cost tech and university market; among the most expensive counties in Colorado; high-cost designated for loan limits |
| Colorado Springs | More affordable than Denver metro; military-adjacent market with strong VA loan activity near Fort Carson and the Air Force Academy |
| Fort Collins | Growing university and tech corridor; rapid growth with moderate affordability relative to Denver |
| Mountain resort counties (Summit, Eagle, Pitkin, Routt) | Resort and second-home markets; Colorado’s highest loan limits; luxury-skewed pricing |
| Rural Colorado (most other counties) | More affordable than metro areas; many areas USDA-eligible |
