What credit score do I need to buy a home in Colorado?

Minimums vary by program: FHA 580 (or 500 with 10% down per HUD), VA and USDA typically 580–620 by lender overlay, Conventional 620, Jumbo 680–700+. CHFA requires a minimum mid-score of 620 on most products. Score requirements are the same statewide — Denver, Aurora, Colorado Springs, Fort Collins, Boulder, or Pueblo.

Can I qualify for a Colorado mortgage if I am self-employed?

Yes. Self-employed Colorado buyers typically need two years of federal tax returns plus year-to-date profit-and-loss statements. We also offer bank-statement and 1099-only programs for borrowers whose tax returns understate qualifying income. All loans are underwritten to ATR/QM rules under TILA.

Can I use gift funds for my down payment in Colorado?

Yes. FHA, VA, USDA, and Conventional all allow gift funds from an acceptable donor (typically a family member). A signed gift letter and documentation of transfer are required. CHFA and metroDPA can sometimes be layered on top of gifts to further reduce cash to close.

Are FHA loan limits different in Colorado?

FHA limits are set county-by-county by HUD. Front Range counties (Denver, Adams, Arapahoe, Jefferson, Douglas, Boulder, Larimer, Weld, El Paso) typically sit between the FHA floor and ceiling, while mountain-resort counties (Eagle, Pitkin, Summit, Garfield, Routt, San Miguel) sit at or near the FHA ceiling. We confirm your county limit on the official HUD lookup before issuing a pre-approval.

Are there first-time home buyer programs in Colorado?

Yes — CHFA (the Colorado Housing and Finance Authority) runs first-mortgage products (FHA, VA, USDA, Conventional) paired with a DPA grant or a second-mortgage option, and metroDPA covers much of the Denver metro and surrounding counties with additional down-payment help. The City and County of Denver also runs its own homebuyer assistance program through the Department of Housing Stability.

How does TABOR or Colorado property-tax law affect my mortgage?

It does not change qualification. Colorado uses an assessed-value system with local mill levies set by counties, school districts, and special districts; the actual dollar tax on a property can vary materially from one neighborhood to the next. We pull the real property-tax bill into your escrow analysis so your monthly payment is accurate before you go under contract.

Do I need to factor wildfire risk into my insurance budget in Colorado?

For foothill, mountain, and Western Slope properties, yes — wildfire-risk pricing has tightened in recent years and some carriers have pulled back. We coordinate real homeowners-insurance quotes early in the file so the insurance number on your Loan Estimate reflects the actual property, not a generic placeholder.

Can I use a USDA loan in Colorado?

Yes — many smaller Colorado towns and rural areas outside Denver, Aurora, Colorado Springs, Fort Collins, and Boulder are USDA-eligible. USDA offers $0 down with reduced mortgage insurance versus FHA. We check the official USDA eligibility map at the address level before recommending the program.

Can I use a VA loan in Colorado?

Yes. Colorado has a large veteran and active-duty population at Fort Carson, Peterson SFB, Buckley SFB, the U.S. Air Force Academy, and Schriever SFB. Eligible service members and veterans can purchase with $0 down and no monthly mortgage insurance, subject to the VA funding fee (which is waived for borrowers with a service-connected disability rating).

How much are closing costs in Colorado?

Closing costs in Colorado typically run 2%–5% of the purchase price and include lender fees, title insurance, recording fees, prepaid taxes and insurance, and any HOA / special-district transfer fees. Colorado does not have a statewide real estate transfer tax, though a handful of mountain-resort municipalities (e.g., Aspen, Vail, Telluride, Crested Butte) levy a local Real Estate Transfer Assessment. Your Loan Estimate breaks out every line.

How long does it take to close on a Colorado home?

Industry average is around 43 days. Many of our recent Colorado purchase files in Denver, Aurora, Colorado Springs, Fort Collins, Boulder, and Pueblo close in roughly 21 days when appraisal, title, and insurance cooperate. Mountain properties sometimes take longer because of appraisal availability and insurance underwriting.

Can I buy a condo with a mortgage in Colorado?

Yes. FHA, VA, and Conventional all finance condos, but the project must meet the agency’s condo-approval rules (FHA project approval, VA approval, or Conventional warrantable review of HOA reserves, owner-occupancy, and litigation). We pre-screen the project before you go under contract so financing does not fall apart in underwriting.

Does Simply Approved Mortgages charge an origination fee on Colorado loans?

Yes. On eligible residential transactions our compensation is generally a 1.50% lender-paid structure — the lender pays our broker compensation, so you don’t pay us a separate broker fee — disclosed on your Loan Estimate. Loan-level pricing, third-party fees (appraisal, title, recording), and prepaid escrows are itemized so you can compare line-by-line.

Is Simply Approved Mortgages licensed in Colorado?

Yes. We are licensed to originate purchase mortgages in Colorado (NMLS# 2620881). We are not affiliated with HUD, the VA, USDA, CHFA, or any metroDPA-participating municipality — government program details should be verified on the official agency websites.

What is the median home listing price in Colorado?

The Federal Reserve Bank of St. Louis (FRED) publishes a monthly Colorado median listing price. The figure shown on this page refreshes from FRED daily; click the tile to open the live series on fred.stlouisfed.org. Actual prices vary widely between Front Range, mountain-resort, and Western Slope counties.

What is the homeownership rate in Colorado?

The U.S. Census Bureau publishes an annual Colorado homeownership rate (FRED series COHOWN). It typically sits in the mid-60% range. The live tile above shows the most recent published value with its "as of" year.

How much have Colorado home prices changed year over year?

The FHFA All-Transactions House Price Index for Colorado (FRED series COSTHPI) tracks single-family home price changes statewide. The index level shown updates quarterly; comparing the current value to the same quarter last year gives you the YoY change. Loan-level pricing is unaffected by the index — your rate depends on credit, LTV, program, and pricing on the day of lock.

What is the median household income in Colorado?

The U.S. Census American Community Survey publishes median household income for Colorado annually (FRED series MEHOINUSCOA646N). Median income drives DTI thresholds, USDA income caps, and many CHFA / metroDPA eligibility ceilings — your loan officer compares your specific household income to the relevant program limits.

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Published November 14, 2026Last updated November 14, 2026

Colorado · 2026 Buyer's Guide

Purchase Mortgages in Colorado, Built for the Colorado Market

Every federal loan program — paired with CHFA and metroDPA assistance — for buyers in Denver, Aurora, Colorado Springs, Fort Collins, Boulder, Pueblo, and across the Front Range, Western Slope, and mountain-resort markets. Colorado property-tax and wildfire-insurance reality built into your Loan Estimate, with a licensed Colorado loan officer who closes Colorado files every week.

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A craftsman-style Colorado home with stone and wood accents and snow-capped Rocky Mountains in the background at golden hour

Quick answerSummary

✓Every federal program (FHA, VA, USDA, Conventional, Jumbo, Doctor, DSCR) available in Colorado
✓CHFA grant + metroDPA assistance stackable with most programs*
✓County-level FHA and conforming limits confirmed before pre-approval
✓1.5% lender-paid compensation model on many loans — compensation may vary by program, lender, and state requirements
✓Wildfire and mountain-property insurance realities priced into your Loan Estimate
✓Licensed in Colorado — NMLS# 2620881

Written by

Simply Approved Mortgages Team

Licensed Loan Officers · NMLS# 2620881

12 min read·Independently researched · No paid product placement

Sources & .gov links verified liveVerified against 11 official .gov / agency sources

Buying a home in Colorado

Purchase mortgages built around what Colorado buyers actually deal with.

Every state runs the same federal loan programs — FHA, VA, USDA, Conventional, Jumbo — but the county loan limits, property tax rates, insurance picture, and down-payment-assistance options are different in Colorado. We work with Colorado buyers every week and structure files around those local realities, not a one-size-fits-all template from another state.

Colorado has historically had one of the lower effective residential property-tax rates in the country, but local mill levies, special districts, and HOAs vary widely between Front Range, mountain, and Western Slope counties. Homeowners insurance pricing also varies with wildfire risk in foothill and mountain ZIP codes. Source: Colorado Department of Local Affairs, Division of Property Taxation (dola.colorado.gov).

Our team is licensed to originate purchase mortgages in Colorado (NMLS# 2620881). We are not affiliated with HUD, the VA, USDA, or the Colorado Housing and Finance Authority (CHFA) — government program details should always be verified on the official agency websites linked below.

Colorado buying snapshot · 2026

Conforming baseline (1-unit): $832,750
FHA range (1-unit): $541,287 – $1,249,125
High-volume counties we close in: Denver · Arapahoe · Jefferson · Adams · Douglas · Boulder · El Paso · Larimer · Weld · Eagle · Pitkin · Summit

Sources: FHFA · HUD FHA limits · CO county lookup.

Next step

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A written pre-approval from a Simply Approved Mortgages Loan Officer tells you exactly how much you can spend in your Colorado county before you tour homes or make an offer.

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What · Colorado

What is a purchase mortgage in Colorado?

A purchase mortgage in Colorado is the home loan you use to buy a primary residence, second home, or investment property anywhere in the state — a Denver bungalow, a Colorado Springs new build near Fort Carson, a Fort Collins townhome, a Boulder duplex, or a mountain home in Eagle, Summit, or Pitkin County. The underlying federal programs (FHA, VA, USDA, Conventional, Jumbo) are nationwide, but pricing them in Colorado has to account for Colorado-specific factors: mountain-county loan limits at or near the FHA ceiling, wildfire-driven homeowners-insurance pricing along the foothills and Western Slope, and CHFA / metroDPA assistance that can dramatically reduce cash to close for eligible Colorado buyers.

For most Colorado buyers, the right program is FHA (3.5% down, flexible credit), Conventional with CHFA assistance (3% down with grant or second-mortgage help), VA (0% down for Colorado veterans and the large active-duty population at Fort Carson, Peterson SFB, Buckley SFB, the Air Force Academy, and Schriever SFB), or USDA (0% down across many smaller Colorado towns outside the Front Range). Jumbo financing is common in resort markets where home values regularly exceed the high-cost county conforming ceiling.

How · Colorado

How the Colorado home-buying process works step by step

Colorado purchase mortgages follow the standard federal timeline, but Colorado adds a few wrinkles — particularly around insurance and mountain appraisals. We line them up early so the file does not lose closing days.

Pre-approval — full income, asset, and credit review against FHA, VA, Conventional, USDA, Jumbo, and CHFA overlays using your real Colorado county loan limit.
Wildfire-aware insurance quotes — for foothill, mountain, and Western Slope Colorado properties we coordinate real homeowners quotes early so escrow on the Loan Estimate reflects current carrier pricing, not a generic placeholder.
CHFA / metroDPA layering — when you qualify, we structure the first mortgage and the DPA grant or second together so both close on the same day.
Appraisal — mountain and resort-area Colorado appraisals can take longer because of appraiser availability and comparable scarcity; we set realistic dates and order early.
Title and survey — Colorado uses title companies (not attorneys) for most closings; we coordinate with your chosen Colorado title company on tax prorations and the final Closing Disclosure.
Closing — typical Colorado purchase files close in roughly 21 days on a complete file; the industry average is closer to 43 days.*

Why · Colorado

Why Colorado buyers work with a Colorado lender, not a national call center

Colorado has unusually wide variation between markets: a starter home in Pueblo and a starter home in Aspen do not even share the same loan-limit category. Mill levies, HOA structures (very common in master-planned Front Range communities), special metropolitan-district taxes, and wildfire-insurance pricing all change the real monthly payment in ways national lenders routinely under-estimate. A Colorado loan officer who closes Colorado files every week prices those into your Loan Estimate up front instead of changing your payment at clear-to-close.

At Simply Approved Mortgages, transparency is one of our core values. For most residential mortgage loans, we use a 1.50% lender-paid compensation model, including many Conventional, FHA, VA, USDA, Jumbo, Non-QM, ITIN, and DSCR programs. Certain specialty products such as Construction Loans, Reverse Mortgages, HELOCs, and other specialized financing may use a different compensation structure based on lender, product, and legal/regulatory requirements. In Colorado, where HOA dues, metro-district taxes, and insurance can vary widely, we encourage every client to compare the complete financing package—interest rate, APR, lender fees, discount points, closing costs, monthly payment, loan features, and overall suitability—before choosing a mortgage. Compensation is disclosed in accordance with applicable federal and state laws.

Colorado · Down Payment Assistance

Down payment assistance (DPA) programs for Colorado buyers

Most buyers in Colorado qualify for some form of down-payment or closing-cost assistance — the right stack depends on your income, the property address, your loan program, and (for some programs) your occupation. Below is the full DPA landscape available to Colorado buyers in 2026, including our own Simply Approved Mortgages Homebuyer Assistance approach.

Why down payment assistance matters

How DPA helps, why it can help, and why American buyers in Colorado use it

The single biggest obstacle for most first-time and moderate-income buyers is not credit or income — it is the cash needed to close. Down Payment Assistance (DPA) programs are designed to bridge that gap so qualified buyers can stop renting and start building equity sooner.

How DPA helps

DPA delivers funds — as a grant, forgivable loan, deferred second mortgage, or repayable second lien — that can be applied to your down payment, closing costs, or prepaid escrows. That means less cash out of pocket at closing and, in many cases, the ability to keep savings intact for reserves, moving expenses, and emergencies.

Why it can help you

The CFPB and HUD both confirm that thousands of federal, state, county, and city DPA programs exist. Many buyers assume they will not qualify — but most DPA programs allow moderate incomes, non-first-time buyers, or workforce occupations like teachers, nurses, and first responders. Layering DPA on an FHA, VA, USDA, or Conventional loan is one of the fastest ways to shorten the "how long until I can buy" timeline.

Why Americans should use it

The Federal Reserve's Survey of Consumer Finances shows homeowners typically hold far more household wealth than renters at comparable income levels. DPA does not lower the price of a home — it lowers the barrier to entry so more American families can start building that equity sooner, using government-backed programs paid for with public and philanthropic funds already set aside for that purpose. Unused DPA dollars simply return to the program pool at year end.

Educational information only. DPA eligibility, funding availability, income limits, purchase-price caps, occupancy rules, and repayment terms vary by program and change without notice — always confirm details directly with the program administrator. Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by HUD, FHA, VA, USDA, FHFA, the CFPB, or any state Housing Finance Agency. All loans subject to credit approval and underwriting. Equal Housing Opportunity. NMLS# 2620881.

Simply Approved Mortgages — Our DPA Program

Simply Approved Mortgages Down Payment Assistance

Simply Approved Mortgages offers a repayable second-lien down-payment and closing-cost assistance option for FHA purchase borrowers in Colorado. It is not a grant — it is a 10-year fixed second mortgage that layers on top of a 30-year fixed FHA first mortgage, and it can be used to cover your down payment, closing costs, or prepaids.

• 580 minimum credit score — Non-Traditional Credit is allowed if you do not have a traditional FICO score, subject to FHA underwriting guidelines.
• No income cap & no first-time buyer requirement — You may own other property at closing and there is no maximum income limit, unlike many state or local DPA grants.
• Assistance of 2.5%, 3.5%, or 5% — calculated as a percentage of the lesser of the purchase price or appraised value, and applied to down payment, closing costs, or prepaids.
• 30-year fixed FHA 1st lien + 10-year fixed 2nd lien — the second-lien DPA is repayable over 10 years at a rate 2% higher than the first mortgage.
• Eligible properties — 1-unit residences, PUDs, 2-4 unit properties, FHA-approved condominiums, and manufactured homes (single-wide and double-wide). Primary residence only.
• Manual underwriting permitted — DTI is determined by the AUS or manual underwriting according to FHA guidelines, plus program-specific payment-shock review.
• 1.50% lender-paid compensation — on eligible residential transactions the lender generally pays our broker compensation, so you don't pay us a separate broker fee; disclosed on your Loan Estimate. Actual compensation may vary by lender, loan program, and state requirements.

Program eligibility is subject to investor and FHA underwriting guidelines. Not available in NY, WA, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa. The second lien is repayable over 10 years with a rate 2% above the first mortgage; it generally cannot be resubordinated for the first 3 years (2.5% / 3.5% assistance) or 10 years (5% assistance), and the balance becomes due on sale or transfer. Homebuyer education from an approved provider is required within six months of closing. This is a summary, not a complete program description; rates, prices, guidelines, fees, costs, terms, and conditions are subject to change without notice. Loan approval is subject to credit, income, asset, appraisal, and property review; binding figures appear only on your Loan Estimate and Closing Disclosure. Simply Approved Mortgages is not affiliated with HUD, FHA, the VA, USDA, FHFA, CHFA, FHFC, metroDPA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.

Simply Approved Mortgages DPA

DPA amount calculator & eligibility checker

Estimate your Simply Approved Mortgages Down Payment Assistance at 3.5% or 5% of the lesser of purchase price or appraised value, and see the 10-year repayable second-lien structure layered on top of a 30-year fixed FHA first mortgage. Then check whether you meet the core program rules.

Amount calculator

Purchase priceAppraised value

Assistance tier (% of lesser of price or appraisal)

Illustrative 1st-mortgage interest rate (%)Used only to show the 2nd-lien rate (1st rate + 2%). Not a quote.

Lesser of price or appraisal: $400,000
Estimated DPA at 3.5%: $14,000
2nd-lien term: 10-year fixed, repayable
2nd-lien rate (illustrative): 8.500% (1st rate + 2%)
Estimated 2nd-lien monthly P&I: $174/mo

Illustrative only — not a quote, lock, offer, or commitment to lend. Actual assistance, rate, and payment depend on the final loan amount, your credit profile, appraisal, and program guidelines in effect at closing. Binding figures appear only on your Loan Estimate and Closing Disclosure.

Eligibility checker

Your approximate credit score600+ lowest middle score required (620 on manufactured homes). No-credit and non-traditional credit files are not eligible.How will you occupy the property?Property type

Do you have documentable, qualifying income (W-2, self-employment, retirement, etc.)?

Are you willing to complete an approved homebuyer education course before closing?

Is the property located in NY, WA, the U.S. Virgin Islands, Guam, the Northern Mariana Islands, or American Samoa?

Answer each question above to see your preliminary eligibility result.

This is a preliminary self-check, not an underwriting decision or a credit decision. It does not pull your credit and is not a quote, lock, offer, or commitment to lend. Program rules, fees, costs, terms, and conditions are subject to change without notice. Simply Approved Mortgages is not affiliated with HUD, FHA, the VA, USDA, FHFA, CHFA, FHFC, metroDPA, or any government agency. Equal Housing Opportunity. NMLS# 2620881.

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Emailing your Down payment assistance calculator scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Statewide Colorado DPA programs

CHFA FirstStep / FirstStep Plus →

CHFA first-mortgage products (FHA, VA, USDA, Conventional) for income-eligible Colorado buyers, with reduced-MI options on certain conventional loans.

CHFA Down Payment Assistance Grant →

A grant (no repayment required) administered by CHFA, paired with a CHFA first mortgage, to help with down payment and closing costs for qualifying borrowers.

CHFA Second Mortgage Loan →

Repayable second-mortgage DPA option from CHFA for borrowers who prefer a loan over the grant.

Local / county DPA programs for Colorado

metroDPA — Metro Mortgage Assistance Plus →

Down-payment and closing-cost assistance layered on FHA, VA, USDA, or Conventional financing across most Denver-metro counties. Income limits and property eligibility verified at application.

City and County of Denver — Homebuyer Resources →

City of Denver Department of Housing Stability lists local homebuyer assistance, education, and affordable for-sale inventory for Denver-county residents.

City of Aurora — Home Ownership Assistance Program (HOAP) →

Aurora’s local DPA for income-qualified buyers purchasing inside Aurora city limits.

National DPA & counseling resources

HUD-Approved Housing Counseling Agencies →

Free or low-cost pre-purchase counseling — required by most DPA programs and FHA buyers can use it to satisfy first-time-buyer education requirements.

HUD: Local Homebuying Programs (State Lookup) →

Official HUD directory of state, county, and city homebuyer programs.

Native American Direct Loan (NADL) / Section 184 →

For enrolled members of federally recognized tribes — separate eligibility rules and low down-payment options.

Every external DPA program above is administered by an independent agency or nonprofit. Eligibility, funding availability, income limits, purchase-price caps, property-eligibility maps, repayment terms, and program rules change without notice — confirm details directly with the program administrator. Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by any of the agencies, nonprofits, or programs listed. Listing a program does not guarantee approval. Information current to the best of our knowledge as of 2026.

Live Colorado housing data

Colorado housing market — live data & official statistics

We don't republish stale numbers. Every figure below links to the official source so you're always looking at the most recent Colorado data the agency itself has published. Live tiles refresh daily from the Federal Reserve Bank of St. Louis (FRED). Your Simply Approved Mortgages Loan Officer will pull the current snapshot when we structure your pre-approval.

Last verifiedQ2 2024

Colorado All-Transactions House Price Index

878.0

FHFA All-Transactions House Price Index for single-family homes statewide (FHFA via FRED). Used to gauge YoY appreciation in Colorado.

Federal Reserve Bank of St. Louis (FRED) →

Last verified2023

Colorado homeownership rate

65.2%

Share of occupied Colorado housing units owned by the occupant (U.S. Census via FRED).

Federal Reserve Bank of St. Louis (FRED) →

Last verified2023

Colorado median household income

$92,470

U.S. Census ACS median household income for Colorado (U.S. Census via FRED) — drives DTI thresholds and DPA eligibility.

Federal Reserve Bank of St. Louis (FRED) →

Last verified2024

Colorado median listing price

$599,000

Median active-listing price across Colorado — housing market series distributed by the Federal Reserve Bank of St. Louis (FRED).

Federal Reserve Bank of St. Louis (FRED) →

Reviewed quarterlyJuly 2024

Colorado population

5.91M

Latest Census Bureau population estimate for Colorado.

U.S. Census QuickFacts →

Reviewed quarterlyMid-2024

Denver-Aurora-Lakewood CPI: shelter (YoY)

+4.6%

BLS Mountain-Plains regional release: shelter component of the Denver-Aurora-Lakewood CPI.

U.S. Bureau of Labor Statistics →

Reviewed quarterly2023 annual

Colorado single-family building permits

24,318

Annual single-family residential building permits authorized statewide.

U.S. Census Building Permits Survey →

Reviewed quarterlyFY 2023

CHFA loans funded

6,200+

Colorado Housing and Finance Authority single-family loans funded in the most recent fiscal year report.

CHFA Annual Report →

Figures shown are the most recent values published by the cited federal or state agency. Live tiles refresh from the Federal Reserve Bank of St. Louis (FRED) API; agency publication cadence is monthly, quarterly, or annual. Loan-level pricing, eligibility, and final terms are determined at underwriting — numbers here are educational and not a quote, lock, offer, or commitment to lend. Your Simply Approved Mortgages Loan Officer will pull the current snapshot when we structure your pre-approval.

Population, income & housing demographics

U.S. Census Bureau — QuickFacts →

Median household income, owner-occupancy rate, median home value, and population for Colorado, updated by the Census Bureau.

Home price index (HPI)

FHFA House Price Index →

Official quarterly purchase-only and all-transactions HPI for Colorado and most MSAs.

Local unemployment rate

BLS Local Area Unemployment Statistics (LAUS) →

County- and MSA-level unemployment data, updated monthly by the U.S. Bureau of Labor Statistics.

Mortgage lending activity (HMDA)

CFPB HMDA Data Browser →

Loan-application volume, denial rates, average loan amounts, and lender mix for Colorado.

Property tax & mill levies

Colorado DOLA — Division of Property Taxation →

Official millage rates, assessed values, and exemption rules for Colorado.

Current conforming & FHA loan limits

FHFA + HUD →

Colorado conforming loan limits set annually by FHFA.

Linked figures are published by the named agency, not Simply Approved Mortgages. We do not republish or guarantee third-party statistics. Past market performance is not indicative of future results. All loan figures shown anywhere on this page are illustrative and not a quote, lock, offer, or commitment to lend; binding figures appear only on your Loan Estimate.

Colorado Housing Market

Buying a home in Denver, Colorado Springs, Fort Collins, Aurora, Boulder, or Pueblo

Whether you’re purchasing in Denver, Colorado Springs, Fort Collins, Aurora, Boulder, Pueblo, Greeley, Loveland, Longmont, Centennial, Thornton, Westminster, Lakewood, Arvada, Castle Rock, Parker, or a mountain community like Vail, Breckenridge, Steamboat Springs, or Durango, understanding local market conditions can help you choose the right mortgage. Home prices, property taxes, special-district mill levies, homeowners insurance costs (including wildfire and hail exposure), and available loan programs can vary meaningfully across the state — making it important to work with a Colorado mortgage broker who can help you compare options based on your financial goals and the actual property you’re buying.

Front Range buyers in El Paso, Larimer, Weld, Adams, Arapahoe, Jefferson, Douglas, and Boulder counties are typically pricing against FHA county limits between the floor and the ceiling, while buyers in Eagle, Pitkin, Summit, Garfield, Routt, and San Miguel counties often need high-balance or jumbo financing because of resort-market home values. We confirm your county-level limit on the official HUD lookup before issuing a pre-approval, then layer CHFA, metroDPA, or a Denver Department of Housing Stability program where you qualify so cash to close reflects real assistance — not a guess.

Market context above is general information for Colorado home buyers and is not an offer to lend, a rate lock, or a commitment to lend. Loan approval is subject to credit, income, asset, appraisal, and property review. Simply Approved Mortgages is licensed to originate mortgages in Colorado (NMLS# 2620881) and is not affiliated with HUD, the VA, USDA, CHFA, metroDPA, or any municipal program.

2026 HUD Fair Market Rents · Colorado

What renters in Colorado could buy at payment parity

We pulled HUD's published 2026 2-bedroom Fair Market Rents for Coloradocounties and calculated the loan amount whose full PITI payment would roughly match today's median rent. It's a quick way to see if buying makes sense in your area.

*Illustrative only for the Colorado areas listed above — not a quote, lock, offer, or commitment to lend. Assumes 6.75% 30-year rate, ~22% of payment going to taxes/insurance/HOA, and 3.5% down. Binding figures appear on your Loan Estimate. Individual results vary. Colorado rent figures: HUD User FMR 2026 .

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Emailing your Colorado rent vs buy comparison scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Colorado context

Colorado housing market overview

Colorado does not have one housing market — it has several. The state is divided into 64 counties and four broad price zones: the Front Range corridor from Fort Collins to Colorado Springs, the mountain-resort counties of the central Rockies, the Western Slope high-desert and river valleys, and the Eastern Plains. Each zone has different median prices, inventory levels, buyer competition, and loan-program usage, which is why a Colorado purchase mortgage has to be priced at the county and ZIP level, not with a statewide guess.

Front Range core

Denver, Arapahoe, Jefferson, Adams, Douglas, Boulder, and Larimer counties carry the bulk of Colorado purchase volume. FHA and conforming limits in these counties sit above the national floor, and CHFA / metroDPA assistance is commonly layered for first-time buyers. Many newer communities sit inside special taxing districts, so the real monthly payment includes more than the county tax line.

Mountain-resort markets

Eagle, Pitkin, Summit, Routt, San Miguel, and Garfield counties are known for high-value homes and seasonal demand. Jumbo, high-balance, second-home, and investor (DSCR) financing are more common here. Appraisal comparables and wildfire insurance can be the deciding factors in the timeline, not just the rate.

Western Slope & rural Colorado

Mesa, La Plata, Montrose, Delta, and the San Luis Valley counties often have lower loan limits and stronger USDA eligibility outside the city cores. FHA and VA are frequently the best fit for buyers in these communities.

Southern Colorado

El Paso and Pueblo counties anchor the south. The heavy military presence around Fort Carson, Peterson SFB, Schriever SFB, Buckley SFB, and the Air Force Academy makes El Paso County one of the highest-volume VA-loan markets in the western United States.

Sources: FHFA conforming limits, HUD FHA limits, USDA Rural Development eligibility. Individual pricing depends on credit, income, property, occupancy, and program. See our live conforming limits and live FHA limits pages.

Colorado taxes

Property taxes in Colorado

Colorado’s residential property tax system is set at the state level and collected at the county level. Voters repealed the Gallagher Amendment in 2020, so the Colorado legislature now sets the residential assessment rate by statute. The actual tax bill you pay depends on that rate, the local assessed value, and the mill levies imposed by the county, city, school district, and any special or metropolitan districts.

What matters for your mortgage is that two homes with the same price can have very different tax bills because of different mill levies. A property in a Front Range master-planned community may pay an additional metro-district mill for roads, parks, or water infrastructure. We pull the current tax bill and verify the taxing districts for the specific address, then build that number into your escrow analysis so the payment on your Loan Estimate reflects reality.

Residential assessment rate

Set by Colorado statute and applied by the county assessor to determine taxable value. The rate can change by legislative session.

Mill levies

Counties, cities, schools, fire districts, and special districts each set their own mill levy. The total mill levy multiplied by the taxable base equals the annual tax bill.

TABOR

The Taxpayer’s Bill of Rights limits revenue growth for some taxing authorities and requires voter approval for certain tax increases, though TABOR does not eliminate annual tax-bill variation from assessed-value changes.

Sources: Colorado Department of Local Affairs — Property Taxation. Tax figures are illustrative. Actual taxes vary by property, county, district, and year. Consult the county assessor for the property you are considering.

Colorado cash to close

Closing costs in Colorado

Colorado buyers typically need 2% to 5% of the purchase price in closing costs on top of the down payment, though seller credits, lender credits, and DPA can offset a large portion. Closing costs fall into three buckets: lender charges, third-party services, and prepaid/escrow items.

Lender charges

Includes our 1.5% lender-paid compensation, credit report, and any discount points or lender-paid costs. We do not charge hidden processing or document fees. Compare the A + B + C + J sections on your Loan Estimate.

Third-party services

Title insurance, title search, escrow/closing fee, appraisal, inspection, and survey are common in Colorado. Title companies handle most closings (attorneys are not required).

Prepaids & escrow

Homeowners insurance premium (often 12 months), property tax proration, daily interest from closing to month-end, and the initial escrow deposit (typically 2 months of taxes and insurance). Mountain and foothill properties may have higher insurance premiums.

Sources: CFPB Closing Disclosure guide, FHFA. Figures are illustrative; your actual closing costs depend on the lender, title company, property, program, and negotiated credits.

Colorado assistance

Colorado first-time buyer programs

Colorado offers several down-payment and closing-cost assistance programs for eligible buyers. These programs are typically layered on top of a first mortgage (FHA, VA, USDA, or Conventional) and may require homebuyer education, income limits, and a first-time buyer status.

CHFA (Colorado Housing and Finance Authority)

CHFA offers first-mortgage products paired with a DPA grant or a repayable second mortgage. Income limits, purchase-price limits, and homebuyer-education requirements apply. Learn more at chfainfo.com.

metroDPA — Metro Mortgage Assistance Plus

Covers much of the Denver metro area and surrounding counties with down-payment and closing-cost help layered onto FHA, VA, USDA, or Conventional financing. metrodpa.org.

City and county programs

Denver, Aurora, and other municipalities sometimes run local homebuyer assistance. These programs have their own overlays and may require you to live or work in the jurisdiction.

HUD-approved housing counseling

Many DPA programs require a certificate from a HUD-approved housing counselor. Find an agency near you at HUD.gov/findacounselor.

Program availability, income limits, and rules change. Simply Approved Mortgages is not affiliated with CHFA, metroDPA, HUD, or any municipality — verify eligibility and current terms directly with the agency before relying on assistance in your offer. See also our first-time buyer guide.

Colorado underwriting

Comparable sales are usually plentiful in Denver, Colorado Springs, Fort Collins, and Boulder. Appraisals are typically returned in roughly 5–10 business days, assuming the property is accessible and the order is placed promptly.

Mountain and resort appraisals

Eagle, Pitkin, Summit, Routt, and San Miguel counties may have fewer comparable sales, especially for unique properties or off-peak seasons. Turn times can extend, and we often order the appraisal within 24 hours of contract to protect the closing timeline.

FHA / VA appraisal requirements

FHA and VA appraisals include a minimum property standards review. If the Colorado property needs safety, soundness, or structural repairs, those items must be corrected before closing. We review the property disclosure up front to flag likely issues.

Appraisal gap

If the appraised value comes in below the contract price, the buyer may need to renegotiate, bring extra cash, or cancel the contract. We model the worst-case cash-to-close before you write the offer so you know your options.

Colorado risk

Insurance considerations in Colorado: mountains, wildfire, and hail

Colorado homeowners insurance is not a one-size-fits-all product. The state has significant hail exposure along the Front Range and high wildfire exposure in the foothills and mountains. Those risks affect premium, carrier availability, and binding conditions. We treat insurance as a mortgage qualifier, not an afterthought.

Wildfire

Foothill and mountain ZIPs face elevated wildfire risk. Several national carriers have reduced exposure in Colorado since 2022, and remaining carriers may require roof-age, defensible-space, or fire-department-proximity reviews. We start shopping quotes early.

Hail

Hailstorms are common on the Front Range. Roof condition and age are heavily underwritten. If the roof is near the end of its rated life, an insurance carrier may require replacement or charge a much higher premium before binding.

Flood

Standard homeowners insurance does not cover flood. If the property is in a FEMA Special Flood Hazard Area or a local flood zone, separate flood insurance may be required. We verify flood-zone status once the address is known.

Insurance is arranged through independent licensed agents. Premiums are illustrative until a carrier quotes the specific property. Simply Approved Mortgages does not sell insurance and is not responsible for carrier underwriting decisions.

Colorado lender

Why Colorado buyers choose Simply Approved Mortgages

Simply Approved Mortgages (NMLS# 2620881) works with state-licensed mortgage loan officers serving buyers in every region of Colorado. Our goal is not to maximize compensation per transaction — it is to build long-term client relationships through transparency, service, and competitive mortgage solutions. Here is what that means for your Colorado purchase.

Competitive mortgage options

We shop FHA, VA, USDA, Conventional, Jumbo, Doctor, 1%-Down, and Non-QM programs so you can compare the real monthly payment and cash-to-close across options.

Licensed mortgage professionals

Our Colorado loan officers and operations staff are licensed and trained in the federal and state guidelines that apply to your specific file.

Fast online application

You can complete the secure online application in about 15 minutes. Once your file is complete, we typically issue a pre-approval letter within roughly 24 hours.*

Multiple loan programs

One application lets us evaluate the programs that actually fit your credit, income, and property type — instead of forcing you into a single product.

Personalized guidance from application through closing

A single Simply Approved Mortgages Loan Officer stays with you through pre-approval, contract, underwriting, and closing. You are not handed off to a call center.

Colorado market experience

We underwrite Front Range, mountain, Western Slope, and rural Colorado files regularly, so we know the local insurance, appraisal, and tax issues before they become problems.

*Typical timing on recent complete files; not a guarantee. Pre-approval letters are issued subject to underwriting review and do not guarantee final loan approval. Simply Approved Mortgages LLC is licensed in Colorado (NMLS# 2620881). All programs, rates, and terms are subject to borrower and property qualification. This is not an offer to lend or a commitment to extend credit. Equal Housing Opportunity.

See the difference

See how your Colorado mortgage payment compares across programs

Use our closing-cost calculator and schedule a review with a Simply Approved Mortgages Loan Officer to see how your real monthly payment and cash to close compare across FHA, VA, Conventional, and CHFA.

Start My Approval →See Today's Rates

Every program, side-by-side · Colorado

Find your fit in Colorado in 30 seconds

Each card shows the down payment, credit minimum, who it fits in Colorado, plus the honest perks and trade-offs.

Verify current terms at HUD, VA.gov, USDA RD, and FHFA. Simply Approved Mortgages is not affiliated with any government agency.

Government-insured · Colorado

FHA Loan — Colorado

Down

3.5%

Min FICO

580+

Rate

Market FHA pricing

Best for in Colorado

First-time buyers, lower credit, higher DTI

Perks

+Down to 580 FICO (500 with 10% down)
+43% standard DTI (up to ~56.99% with AUS + compensating factors)
+Gift funds allowed for full down payment
+3.5% down on a 1–4 unit primary

Watch-outs

!MIP for life of loan when LTV > 90% (11 yrs if 10%+ down)
!County loan limits apply
!Property must meet FHA condition standards

FHA Loan details and requirements →Start a FHA Loan pre-approval in Colorado →

Veterans & active duty · Colorado

VA Loan — Colorado

Down

Min FICO

580+ (most lenders)

Rate

Competitive market pricing

Best for in Colorado

Veterans, active duty, eligible surviving spouses

Perks

+$0 down with full entitlement (no VA loan limit since 2020 Blue Water Navy Act)
+No monthly PMI ever
+Seller can pay all closing costs, plus up to 4% in concessions
+Assumable by qualified buyers later

Watch-outs

!One-time VA funding fee (waived for disabled vets)
!Primary residence only
!Property must meet VA MPRs

VA Loan details and requirements →Start a VA Loan pre-approval in Colorado →

Rural & suburban · Colorado

USDA Loan — Colorado

Down

Min FICO

620+

Rate

Below conventional

Best for in Colorado

Moderate-income buyers in eligible areas

Perks

+$0 down up to 100% LTV
+Reduced mortgage insurance vs FHA
+No loan limits — based on what you can afford

Watch-outs

!Property must be in USDA-eligible area
!Income capped at 115% of area median
!Primary residence only

USDA Loan details and requirements →Start a USDA Loan pre-approval in Colorado →

Fannie & Freddie · Colorado

Conventional — Colorado

Down

3–20%

Min FICO

620+

Rate

Best at 740+

Best for in Colorado

Buyers with 680+ credit and stable income

Perks

+PMI drops automatically at 78% LTV
+Wide property eligibility
+Available on 2nd homes & investment
+HomeReady/Home Possible discount for moderate income

Watch-outs

!Stricter credit and DTI standards
!PMI required under 20% down
!Loan limits apply (conforming)

Conventional details and requirements →Start a Conventional pre-approval in Colorado →

High-balance · Colorado

Jumbo Loan — Colorado

Down

10–20%

Min FICO

700+

Rate

Tightly priced for strong borrowers

Best for in Colorado

Loan amounts above the conforming limit

Perks

+Finance high-value homes in one loan
+Competitive rates for 720+ buyers
+Interest-only options on select programs
+Available on 2nd homes & investment

Watch-outs

!Heavier reserves required (often 6–12 months)
!Tighter appraisal review
!Higher down payment than conforming

Jumbo Loan details and requirements →Start a Jumbo Loan pre-approval in Colorado →

White-coat program · Colorado

Doctor / Professional — Colorado

Down

0–10%

Min FICO

700+

Rate

Conventional-grade

Best for in Colorado

MDs, DOs, DDS, DVMs, attorneys, CPAs, PharmDs

Perks

+Up to 100% financing on select programs
+Student loan debt treated favorably (IBR payment or, in some programs, excluded)
+Reduced or no PMI even with low down
+Future income / employment contracts may be used to qualify

Watch-outs

!Eligible degree required
!Loan limits vary by investor
!Primary residence only (most programs)

Doctor / Professional details and requirements →Start a Doctor / Professional pre-approval in Colorado →

HomeReady boost · Colorado

1% Down Conventional — Colorado

Down

1% (we add 2%)

Min FICO

620+

Rate

HomeReady pricing

Best for in Colorado

First-time buyers under 80% AMI

Perks

+You put 1%, the lender contributes 2% (up to program cap, commonly $4,000) — 3% equity at close
+Grant is not repaid
+PMI drops at 78% LTV per HPA

Watch-outs

!Income limit (80% AMI)
!Primary residence only
!Education course required

1% Down Conventional details and requirements →Start a 1% Down Conventional pre-approval in Colorado →

Alt documentation · Colorado

Non-QM — Colorado

Down

10–25%

Min FICO

620+

Rate

Risk-based

Best for in Colorado

Self-employed, 1099, asset-rich, or recent credit event

Perks

+Bank statement & P&L qualification
+Asset depletion / DSCR options
+1-year tax return programs
+Post-bankruptcy / foreclosure paths

Watch-outs

!Higher rates and reserves than QM
!Program-specific overlays
!Prepay penalties on some investor programs

Non-QM details and requirements →Start a Non-QM pre-approval in Colorado →

Investor cash-flow · Colorado

DSCR — Colorado

Down

20–25%

Min FICO

660+

Rate

Investor pricing

Best for in Colorado

Real-estate investors qualifying on rent, not personal income

Perks

+No tax returns or W-2s
+Qualify on property cash flow (DSCR ≥ 1.0 typical)
+LLC vesting allowed
+Short-term rental programs available

Watch-outs

!Investment property only
!Reserves required
!Prepay penalty common

DSCR details and requirements →Start a DSCR pre-approval in Colorado →

HECM · 62+ · Colorado

Reverse Mortgage — Colorado

Min Age

62+

Counseling

HUD-approved

Product

FHA-insured

Best for in Colorado

Homeowners 62+ who want to access equity without monthly payments

Perks

+No monthly mortgage payments required while living in the home and paying taxes/insurance
+Proceeds can be lump sum, line of credit, or monthly payments
+FHA-insured HECM with non-recourse feature
+Borrower keeps title to the home

Watch-outs

!Must be 62+ and use the home as your primary residence
!Loan balance grows over time; equity may decrease
!Upfront and ongoing mortgage insurance premiums
!HUD-approved counseling is required before application

Reverse Mortgage details and requirements →Start My Approval →

Find your program

Not sure which loan actually fits you?

Tell us your income, down payment, and credit profile — a licensed loan officer will match you to the right program and walk through the trade-offs in plain English.

Start My Approval →See Today's Rates

Apples to apples

Purchase mortgage comparison table in Colorado

Real numbers, current to 2026. Loan limits update annually; we confirm your county at pre-approval. See HUD FHA limits, FHFA conforming limits, and VA home loan benefits.

Program	Min Down	Min FICO	Max DTI	PMI / MI	Loan Limit (2026)	Property Use
FHA	3.5%	580	43% (up to ~56.99% w/ AUS)	MIP for life if LTV > 90% (11 yrs if 10%+ down)	$541,287 (most counties)	Primary 1–4 unit
VA	$0	580*	50%+	None — ever	No limit if full entitlement	Primary only
USDA	$0	620	46%	Reduced MI	No fixed cap (income-based)	Primary in eligible area
Conventional	3%	620	50%	Drops at 78% LTV	$832,750 (most counties)	Primary, 2nd, investment
Jumbo	10–20%	700	43%	Varies	Above conforming	Primary, 2nd, investment
Doctor	0–10%	700	50%	None	$2M+ (varies)	Primary
1% Down Conv.	1% (+ 2% from us)	620	50%	Standard PMI	Conforming	Primary
DSCR	20–25%	660	N/A (rent-based)	Varies	$3M+ available	Investment only

*VA has no statutory FICO minimum; most investors set 580–620. High-cost counties have higher caps. Sources: FHFA, HUD, VA, USDA. Individual results vary.

Head-to-head

Conventional vs FHA, VA, and USDA — which one fits?

The four loan types most U.S. buyers actually choose between, compared on the things that move your monthly payment and cash to close.

Conventional vs FHA

FHA loans are insured by the FHA and accept lower credit (down to 580 with 3.5% down, or 500 with 10% down) and higher DTI than conventional. The trade-off is mortgage insurance: FHA charges an upfront MIP plus monthly MIP that stays for the life of the loan when LTV is greater than 90%, while conventional PMI drops automatically at 78% LTV per the Homeowners Protection Act. Below ~680 FICO, FHA almost always beats conventional on total cost; at 700+ with 5%+ down, conventional usually wins.

Source: HUD FHA. Individual results vary.

Conventional vs VA

VA loans are guaranteed by the VA for eligible service members, veterans, and certain surviving spouses. Advantages: $0 down with full entitlement, no monthly mortgage insurance ever, flexible credit. Trade-off is a one-time VA funding fee (waived for disabled vets) and primary-residence only. If you qualify, VA usually beats conventional unless you can put 20%+ down on a high-credit conventional file.

Source: VA. Individual results vary.

Conventional vs USDA

USDA Rural Development loans are guaranteed by the USDA for moderate-income buyers in eligible rural and many suburban areas. $0 down and a lower annual fee than FHA MIP, but income is capped at roughly 115% of area median and the property must sit in a USDA-eligible census tract. USDA wins on cash-to-close and monthly payment when you qualify; conventional wins on property/area flexibility and removable mortgage insurance.

Source: USDA RD. Individual results vary.

The honest trade-off

Pros and cons of buying a home in Colorado with a purchase mortgage

A mortgage is a 15-to-30-year commitment. Here is the straight read on both sides before you sign.

Pros

+
Build equity in a historically appreciating Colorado market.
Colorado home values have long outpaced national averages in many Front Range and mountain counties, turning monthly mortgage payments into equity rather than rent.
+
Low effective property-tax rates.
Colorado’s residential property-tax burden is below the national average in many counties, keeping the escrow portion of your payment lower than in comparable coastal states.
+
Down-payment help through CHFA and metroDPA.
Eligible Colorado buyers can pair a first mortgage with a CHFA grant or second mortgage, or layer metroDPA assistance in the Denver metro area, often cutting cash-to-close dramatically.
+
Predictable payments with a fixed-rate loan.
A 30-year fixed mortgage locks principal and interest, while Colorado rents in many Front Range markets have risen sharply year-over-year.
+
$0-down options for rural and military Colorado buyers.
USDA covers many smaller Colorado towns; VA covers veterans and active-duty members at Front Range and mountain military installations.
+
Mountain lifestyle and recreation access.
Owning in Colorado puts skiing, hiking, fishing, and national-park access within reach — a lifestyle premium that also supports resale demand in many resort markets.

Cons

!
Wildfire insurance costs in foothills and mountain counties.
Several carriers have pulled back from wildfire-exposed Colorado ZIPs, leaving higher premiums or stricter binding requirements for foothill and mountain properties.
!
High purchase prices in Front Range and resort markets.
Denver, Boulder, Eagle, Pitkin, and Summit counties carry price tags that can push buyers into jumbo or higher-rate brackets.
!
Special districts and HOA fees add to the real payment.
Colorado master-planned communities and metro districts layer hundreds of dollars per month onto the payment — costs that are not always obvious on the listing.
!
Mountain appraisals and insurance can delay closing.
Resort-area comparable scarcity and wildfire underwriting can stretch the appraisal and insurance timeline beyond a standard 21-day close.
!
Competitive offer environments.
Desirable Colorado neighborhoods often receive multiple offers, so buyers may need to waive contingencies or come in over list price.
!
Weather-related maintenance.
Colorado snow, hail, and freeze-thaw cycles increase roof, gutter, and exterior upkeep costs compared to milder climates.

Educational summary only — not personalized financial, legal, or tax advice. Consult a licensed loan officer and a qualified tax professional for your specific situation.

Start to keys

How to apply for a purchase mortgage in Colorado, step by step

A complete, plain-English walkthrough — from cleaning up credit to wiring funds at closing. Most files move through these seven steps in ~21 days.*

1
Check your credit and pay down balances
Pull your credit reports from all three bureaus at MyITINCredit.com, dispute errors, and bring revolving-card utilization below 30% (ideally under 10%) before applying. Every 20-point jump typically improves pricing.
2
Save for down payment, closing costs, and reserves
Plan for 0%–20% down depending on program, plus roughly 2%–5% of the purchase price in closing costs and 2–6 months of housing-payment reserves. Document large deposits as you save.
3
Choose the right loan program for your scenario
Compare FHA, VA, USDA, Conventional, Jumbo, Doctor, 1%-Down, and Non-QM programs against your credit, income, property type, and timeline. The program decision moves your monthly payment more than chasing a 0.125% rate difference.
4
Start My Approval with a Simply Approved Mortgages Loan Officer
Submit a complete application with income, asset, and ID documentation. A Simply Approved Mortgages Loan Officer and underwriter review the file and issue a written pre-approval letter that sellers and listing agents will take seriously.
5
Shop for a home and make a competitive offer
Tour homes inside your verified budget. Your loan officer can re-issue the pre-approval letter at any price the same day so your offer looks strong to the seller.
6
Lock your rate and submit the contract to underwriting
Once you go under contract, lock the rate, order the appraisal, open title, and the underwriter begins working through conditions in parallel.
7
Clear conditions, get the Closing Disclosure, and close
Provide any remaining conditions the underwriter requests. The Closing Disclosure is delivered at least 3 business days before signing per TRID. You sign, funds wire, the deed records, and you get the keys.

*Typical timing on recent purchase files; actual close timing varies. Not a guarantee of approval, rate, or close date.

The real cash to close

What it actually costs to buy a $400,000 home in Colorado

Three scenarios. Same house. Wildly different out-of-pocket. Your binding numbers appear on the Loan Estimate and Closing Disclosure.

FHA + 4% DPA grant

Illustrative example only · assumes a 7.125% rate, 30-yr fixed · not current pricing

Monthly

$2,847/mo

Cash to close

$2,400

Purchase price: $400,000
Down payment (3.5%): $14,000
DPA grant covers: –$14,000
Closing costs (3%): $12,000
Seller credit: –$8,000
Lender credit: –$1,600
Cash to close: $2,400

Conventional 5% Down

Illustrative example only · assumes a 7.125% rate, 30-yr fixed · not current pricing

Monthly

$2,712/mo

Cash to close

$28,000

Purchase price: $400,000
Down payment (5%): $20,000
Closing costs (2.5%): $10,000
Prepaids escrow: $4,000
Seller credit: –$6,000
Cash to close: $28,000

VA $0 Down

Illustrative example only · assumes a 7.125% rate, 30-yr fixed · not current pricing

Monthly

$2,628/mo

Cash to close

Purchase price: $400,000
Down payment: $0
VA funding fee (financed): $0 out-of-pocket
Closing costs (3%): $12,000
Seller credit (full): –$12,000
Cash to close: $0

Illustrative scenarios — actual rates, fees, taxes, insurance, and credits vary. Your Loan Estimate is the binding document.

Start to keys

Our typical 21-day purchase timeline*

Many recent purchase files close in roughly three weeks when appraisal and title cooperate; actual timing varies. Federal rules require your Closing Disclosure at least three business days before signing.

Day 1–2

Application & Pre-Approval

✓Secure online application (15 min)
✓Upload income & asset docs
✓Soft or hard credit pull
✓Underwriter-reviewed pre-approval letter

Day 1–30+

Shop & Offer

✓Tour homes with confidence
✓We re-issue letters at any price
✓Negotiate seller credits
✓Go under contract

Contract Day 1

Lock & Order

✓Lock your rate that same day
✓Order appraisal within 24 hours
✓Submit complete file to underwriting
✓Title work kicks off in parallel

Day 5–18

Underwriting & Appraisal

✓UW typically issues initial conditions within ~48 hrs
✓Appraisals typically returned in ~5–10 business days
✓We chase conditions on your behalf
✓Most conditions cleared in ~24–48 hrs once received

Day 18–21

Clear to Close

✓Final underwriting approval
✓Closing Disclosure sent (3-day rule)
✓Final walk-through with your agent
✓Wire instructions to title

Day 21

Sign & Fund

✓Sign at title (or mobile notary)
✓Funds wire same day
✓Deed records, you get the keys
✓Welcome home

Lock in your timeline

See where you'd land on our typical 21-day purchase timeline.*

Start your pre-approval today and a licensed loan officer will map your file to a realistic close date based on your program, market, and contract.

Start My Approval →See Today's Rates

Avoid these

7 mistakes that cost first-time buyers thousands

1
Shopping homes before pre-approval.
You don't know your real budget — and listing agents won't take your offer seriously.
2
Opening new credit during the process.
A new credit card or car loan can drop your score 20+ points and re-trigger underwriting.
3
Switching jobs before closing.
Lenders re-verify employment days before close. New job = pause until 30 days of pay stubs.
4
Making large undocumented deposits.
Any non-payroll deposit over ~50% of monthly income gets flagged. Source every dollar.
5
Skipping the rate lock.
Floating in a rising market can add $200+/month for the life of the loan.
6
Maxing out the pre-approval amount.
Just because you're approved for $500k doesn't mean you should spend it. Leave breathing room.
7
Choosing on rate alone.
A lender quoting 0.125% lower with $4,000 more in fees is a bad deal. Compare APR and total cost.

Bring this to your pre-approval

The complete document checklist

Income — if employed (W-2)

✓Last 2 years of W-2s
✓Most recent 30 days of pay stubs
✓Most recent 2 years of federal tax returns (all pages, all schedules)
✓Employer contact info (verification of employment)
✓Documentation of bonus, overtime, or commission income

Income — if self-employed (1099 / business owner)

✓Last 2 years of personal federal tax returns (all pages, all schedules)
✓Last 2 years of business tax returns (1120, 1120S, or 1065) + K-1s
✓Year-to-date profit & loss statement
✓Last 2 years of 1099s (for 1099 contractors)
✓Business license or CPA letter confirming 2+ years of self-employment
✓For bank-statement Non-QM: 12–24 months of business bank statements

Assets

✓Last 2 months of all bank, brokerage, retirement statements
✓All pages — even blanks. No screenshots.
✓Documentation for any large deposits
✓Signed gift letter + donor ability proof (if gifted)

Identity

✓Government-issued photo ID
✓Social Security number or ITIN
✓Permanent residents: green card
✓Foreign nationals: passport + visa

Property (when known)

✓Fully executed purchase contract
✓HOA contact + monthly dues
✓Homeowners insurance quote
✓Survey if available

Ready to make it real?

Get a pre-approval letter — typically within ~24 hours of a complete file.

One short application, then a licensed loan officer reviews your file and issues a real underwriter-backed pre-approval letter you can shop with.

Start My Approval →See Today's Rates

Expert Insight

In Colorado, the sticker rate on a 30-year fixed is often the least important number on the page. What moves your real monthly payment is whether the loan structure fits Colorado's patchwork of Front Range wages, mountain-resort home values, CHFA or metroDPA assistance, and special-district taxes. A buyer in Eagle or Summit county may need jumbo pricing or a high-balance FHA ceiling; a buyer in a Denver metro suburb may cut cash-to-close with a DPA grant; a foothill buyer may find wildfire insurance changes the debt-to-income picture entirely. The only way to compare those trade-offs honestly is to walk through them with a Simply Approved Mortgages Loan Officer who can model each option against your actual Colorado property, taxes, insurance, and Loan Estimate — not a generic online calculator.

Simply Approved Mortgages Team

Licensed Loan Officers • NMLS# 2620881

Cash-to-close levers

Colorado seller credits, lender credits, and DPA — explained

Three of the most common tools buyers use to reduce the money needed at the closing table.

From the seller

Seller credit

A negotiated contribution from the home seller toward your closing costs, prepaids, or (in some cases) a rate buydown. Each loan program caps how much a seller can contribute (commonly 3% on conventional with low down, up to 6% on conventional with 10%+ down, up to 6% on FHA, up to 4% on VA). Cannot exceed your actual closing costs.

Appears on the Closing Disclosure as "Seller Credits."

From the lender

Lender credit

Money the lender contributes toward your closing costs in exchange for a slightly higher rate. Opposite of paying discount points. Useful when you want to keep more cash in hand, especially if you may refinance within a few years.

Appears on the Loan Estimate / Closing Disclosure as a "Lender Credit" in Section J.

From a program

Down Payment Assistance (DPA)

A program — typically run by a state housing finance agency, county, city, or nonprofit — that helps cover part or all of your down payment and sometimes closing costs. Can be a grant (no repayment), forgivable second mortgage, or deferred / repayable second loan. Eligibility usually depends on income limits, property location, first-time buyer status, and homebuyer education.

Stacks with most FHA, VA, USDA, and Conventional programs in many states.*

Credit caps, DPA availability, and program rules vary by loan program, state, county, property type, occupancy, and borrower qualifications. Examples are educational only.

Speak mortgage

The 12 terms every buyer should know

No jargon, no fluff — just the words that decide your monthly payment.

APR

Annual Percentage Rate — the rate plus most fees expressed as a yearly cost. Use this to compare lender quotes apples-to-apples.

LTV

Loan-to-Value — your loan amount divided by the home value. Lower LTV usually means better pricing.

DTI

Debt-to-Income — monthly debt payments divided by gross monthly income. Standard caps are 43–45%, with stretches up to ~50–56.99% possible via AUS and compensating factors.

Points

Upfront fee paid to lower your interest rate. One point = 1% of the loan. Worth it only if you stay long enough to break even.

PMI / MIP

Mortgage insurance protects the lender when you put less than 20% down. PMI on conventional drops at 78% LTV (per the Homeowners Protection Act). FHA MIP stays for the life of the loan when LTV is greater than 90%; with 10%+ down, MIP is removed after 11 years per current HUD rules.

Escrow

A holding account at your lender that collects 1/12 of your annual property tax and insurance every month, then pays the bills when due.

Rate Lock

A guarantee that your rate won't change for a set window (30/45/60/90 days) while you finish the file.

Conforming Limit

The maximum loan amount Fannie Mae and Freddie Mac will buy. Above this is jumbo territory.

Cash to Close

The total dollars you need to wire on closing day — down payment plus closing costs minus credits.

Pre-Approval

A written, underwriter-reviewed commitment based on verified income, credit, and assets. Required for competitive offers.

Appraisal

An independent licensed appraiser's opinion of the home's value. Protects you and the lender from overpaying.

Closing Disclosure

The 5-page form sent to you at least 3 business days before signing that lists every final number. See the CFPB Closing Disclosure guide.

The honest answer

Is a purchase mortgage right for you in Colorado?

Use this short framework to pressure-test whether buying — and which program — actually fits your life right now.

A purchase mortgage likely fits if…

✓You plan to stay in the home at least 3–5 years.
✓Your job and income have been stable for 2+ years.
✓You have 3–6 months of housing-payment reserves after closing.
✓Your total monthly debts sit under ~43–50% of your gross income.
✓Your credit score is at least 580 (FHA / VA) or 620+ (conventional / USDA).
✓You have program-minimum cash for down + closing, or a DPA / gift / seller-credit plan.

It may be worth waiting if…

!You expect to move within the next 2 years.
!Your income just changed (new job in a new field, gap in employment, big drop in 1099 deposits).
!You have recent late payments, a collection in the last 12 months, or an unresolved bankruptcy / foreclosure waiting period.
!You have less than 1 month of reserves after the down payment and closing costs.
!Your DTI would exceed program caps even at the lowest realistic payment.
!You are buying purely for short-term appreciation in an uncertain market.

Fort Collins · Loveland · Wellington · Windsor (partial) · Estes Park · Berthoud

Home of Colorado State University; strong owner-occupant demand. Estes Park brings mountain / wildfire insurance underwriting into the conversation.

Boulder County County

Cities & communities

Boulder · Longmont · Louisville · Lafayette · Superior · Erie (partial) · Nederland

University of Colorado anchor city plus tech and biotech employers. Several ZIPs price into high-cost conforming or jumbo territory.

Weld County County

Cities & communities

Greeley · Windsor (partial) · Erie (partial) · Frederick · Firestone · Dacono · Eaton · Ault

West of the Continental Divide, the Western Slope spans high desert, river valleys, and the San Juan Mountains. Many ZIPs qualify for USDA Single-Family Housing $0-down financing per the official USDA eligibility map, and FHA loan limits in most counties sit at or near the national FHA floor — making this region one of the most affordable mortgage markets in Colorado on a payment basis.

Mesa County County

Cities & communities

Grand Junction · Fruita · Palisade · Clifton · Orchard Mesa

Largest population center on the Western Slope. Strong FHA, VA, and USDA volume in eligible outer ZIPs.

La Plata County County

Cities & communities

Durango · Bayfield · Ignacio

San Juan Mountain market anchored by Fort Lewis College and tourism. Mix of conventional, jumbo (mountain properties), and USDA in rural outskirts.

Montrose County & Delta County

Cities & communities

Montrose · Delta · Olathe · Cedaredge · Paonia

Affordable Western Slope agricultural markets; high USDA eligibility.

Archuleta County & San Juan County

Cities & communities

Pagosa Springs · Silverton

Small-population mountain counties; second-home and conventional dominate near Pagosa, jumbo where applicable.

Eastern Plains and southern mountain valleys

Colorado's eastern plains and San Luis Valley are among the most USDA-eligible regions in the state per the official USDA Rural Development eligibility map. FHA and VA also work well here at the lower county loan limits; jumbo financing is rarely needed.

Morgan County, Logan County & Yuma County

Cities & communities

Fort Morgan · Sterling · Wray · Yuma

Northeastern Colorado plains; USDA Single-Family Housing is the most-used program in many ZIPs.

Otero County, Bent County, Prowers County & Baca County

Cities & communities

La Junta · Las Animas · Lamar · Springfield

Southeastern plains; affordable purchase-loan amounts well below the FHA floor.

Alamosa County, Conejos County, Costilla County, Rio Grande County, Saguache County & Mineral County

Cities & communities

Alamosa · Monte Vista · Del Norte · San Luis · Creede

San Luis Valley; high USDA-eligibility and FHA usage. Home of Adams State University in Alamosa.

Browse every Colorado county purchase mortgage guide

Each Colorado county has its own dedicated purchase-mortgage page with the local FHA / conforming loan limit context, CHFA and metroDPA notes, and the cities and towns we serve inside that county.

64 counties

Adams County Alamosa County Arapahoe County Archuleta County Baca County Bent County Boulder County Broomfield County Chaffee County Cheyenne County Clear Creek County Conejos County Costilla County Crowley County Custer County Delta County Denver County Dolores County Douglas County Eagle County Elbert County El Paso County Fremont County Garfield County Gilpin County Grand County Gunnison County Hinsdale County Huerfano County Jackson County Jefferson County Kiowa County Kit Carson County La Plata County Lake County Larimer County Las Animas County Lincoln County Logan County Mesa County Mineral County Moffat County Montezuma County Montrose County Morgan County Otero County Ouray County Park County Phillips County Pitkin County Prowers County Pueblo County Rio Blanco County Rio Grande County Routt County Saguache County San Juan County San Miguel County Sedgwick County Summit County Teller County Washington County Weld County Yuma County

Browse every Colorado city we lend in

We originate purchase mortgages across Colorado. Choose your city for a dedicated guide with local FHA, VA, USDA, Conventional, Jumbo, and CHFA / metroDPA options, plus today's pricing context and a Simply Approved Mortgages Loan Officer.

159 cities

Akron Alamosa Alma Antonito Arvada Aspen Ault Aurora Avon Basalt Bayfield Berthoud Black Hawk Boulder Breckenridge Brighton Broomfield Brush Buena Vista Burlington Cañon City Carbondale Castle Pines Castle Rock Cedaredge Centennial Central City Cherry Hills Village Cheyenne Wells Clifton Colorado Springs Commerce City Cortez Craig Creede Crested Butte Cripple Creek Dacono Del Norte Delta Denver Dillon Divide Dolores Durango Eads Eagle Eaton Edwards Elizabeth Englewood Erie Estes Park Evergreen Fairplay Falcon Federal Heights Firestone Florence Fort Collins Fort Lupton Fort Morgan Fountain Fraser Frederick Frisco Fruita Georgetown Glenwood Springs Golden Granby Grand Junction Grand Lake Greeley Greenwood Village Gunnison Gypsum Hayden Highlands Ranch Holyoke Hotchkiss Hugo Idaho Springs Ignacio Johnstown Julesburg Kiowa La Junta Lafayette Lake City Lakewood Lamar Las Animas Leadville Limon Littleton Lone Tree Longmont Louisville Loveland Mancos Manitou Springs Mead Meeker Milliken Monte Vista Montrose Monument Mountain Village Nederland New Castle Northglenn Norwood Oak Creek Olathe Ordway Ouray Pagosa Springs Palisade Paonia Parachute Parker Platteville Pueblo Pueblo West Rangely Ridgway Rifle Rocky Ford Saguache Salida San Luis Security-Widefield Silt Silverthorne Silverton Snowmass Village Springfield Steamboat Springs Sterling Stratton Superior Telluride Thornton Timnath Trinidad Vail Walden Walsenburg Wellington Westcliffe Westminster Wheat Ridge Wiggins Windsor Winter Park Woodland Park Wray Yuma

County, city, and community descriptions reflect publicly available geographic, demographic, and program-eligibility context (Colorado Department of Local Affairs, U.S. Census Bureau, HUD FHA Mortgage Limits, USDA Rural Development eligibility map, Colorado Housing and Finance Authority). They are not a guarantee of program eligibility, pricing, or value for any specific property. All loans subject to underwriting approval. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Purchase market update

What Colorado buyers should know this month

November 2026

30-Yr Fixed · national avg

—

Loading PMMS…

15-Yr Fixed · national avg

—

Loading PMMS…

2026 buying power

Conforming baseline: $832,750
FHA floor / ceiling: $541,287 – $1,249,125

What it means for purchase buyers in Colorado in November 2026: Conventional fixed rates move weekly with the bond market, so the number you see today is the national average — not your locked rate. Federal loan limits for 2026 are published by FHFA and HUD; high-cost counties carry higher caps. Page reviewed November 2026 (2026 program year). Sources: Freddie Mac PMMS, FHFA, HUD. Individual results vary.

Today's rates

Live rates

Real rates — your scenario, not a guess

Today's rate options below refresh twice each business day from our wholesale pricing engine; run your own scenario in the pricing tool. National survey averages below give you market context — they're not Simply Approved's pricing.

Our live pricing engine

See your real rate — for your scenario, in our pricing tool

Pull live, scenario-specific pricing from our wholesale pricing engine. Your binding rate and APR are confirmed on your Loan Estimate after a quick file review.

See My Live Rate →

Pricing snapshot

Live rates

Today's Mortgage Rate Options at a Glance

Four real options from today's wholesale pricing for one documented sample scenario per program — no form needed. Updated twice each business day, about 10 AM and 2 PM Eastern. Your own rate depends on your credit, down payment, property, state and lock date.

National market context

Freddie Mac PMMS — weekly U.S. averages

Source: Freddie Mac PMMS (PMMS_history.csv)

Loading latest PMMS averages…

PMMS figures shown above are Freddie Mac's national survey averages, published weekly by Freddie Mac (PMMS_history.csv) — they are not Simply Approved Mortgages' rates, not a quote, not a lock, and not an offer or commitment to lend. Your actual rate, APR, and payment depend on credit profile, loan program, occupancy, LTV, DTI, property type, lock period, and current market pricing at the time of lock. Your binding figures appear on your Loan Estimate. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Compare loan programs

Our pricing vs the national market — by program

Switch between 30-Year, 15-Year, FHA, VA, and Jumbo to see how each program works and where it sits against Freddie Mac's weekly national averages. Conventional fixed-rate programs use real PMMS data; FHA, VA, and Jumbo aren't tracked in PMMS — pull your scenario in our live pricing engine.

30-Yr Fixed

30-Year Fixed (Conventional)

The U.S. standard: lowest monthly payment, fully amortizing over 30 years, predictable principal & interest.

National market context

Loading PMMS…

Our pricing — for your scenario

We don't post a single “our rate” here because your real number depends on credit, LTV, DTI, occupancy, property type, and lock period.

Pull a real, scenario-specific 30-Yr Fixed quote from our live pricing engine — backed by our 1.5% lender-paid compensation on Section A of your Loan Estimate.

Get my 30-Yr Fixed rate →

Best for

Most primary-residence buyers who want payment stability and maximum monthly cash flow.

Comparison is for educational purposes only. PMMS figures are Freddie Mac's national survey averages published weekly — not Simply Approved Mortgages' pricing, not a quote, lock, offer, or commitment to lend. Your actual rate, APR, and payment depend on credit profile, loan program, occupancy, LTV, DTI, property type, lock period, and current market pricing at the time of lock; binding figures appear on your Loan Estimate. FHA, VA, and USDA loans are insured or guaranteed by the U.S. government with their own eligibility, occupancy, and fee requirements; Simply Approved Mortgages is not affiliated with, endorsed by, or sponsored by HUD, the VA, or the USDA. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Next steps

See Today's Rates

Emailing your Loan program comparison tool scenario opens our secure request form so a Simply Approved Mortgages Loan Officer can review those numbers. Estimates are illustrative and are not a quote, lock, offer, or commitment to lend.

Colorado Purchase Mortgage FAQ

Answers to the most common Colorado purchase mortgage questions, written by licensed loan officers.

Same federal minimums as anywhere else: VA and USDA $0 down, FHA 3.5% with 580+ FICO, Conventional 3% for first-time buyers / 5% standard, Jumbo typically 10–20%. CHFA and metroDPA programs can cover most of the down payment and closing costs for eligible Colorado buyers in Denver, Aurora, Colorado Springs, Fort Collins, Boulder, Pueblo, and surrounding communities.

Live mortgage market data

The U.S. mortgage market at a glance

Real published numbers from Freddie Mac, the Federal Reserve (FRED), FHFA, HUD, and the VA — refreshed quarterly so the math you run here matches the math your loan officer runs. Hover any data point for the exact value.

Data last reviewed: November 2026

30-Year Fixed Rate (annual avg)

Mortgage rates, 2019 → 2026

% APR

Source: Freddie Mac Primary Mortgage Market Survey (PMMS). Current-year figure is the year-to-date average; PMMS is updated weekly.

Median U.S. home sales price

Home prices, 2019 → 2025

$ thousands

Source: U.S. Census Bureau & HUD via FRED — Median Sales Price of Houses Sold (MSPUS). Quarterly, seasonally adjusted.

2026 Loan Limits

Maximum loan amounts by program

All limits are the 2026 federally published figures for a one-unit primary residence in most counties. High-cost counties (Honolulu, Bay Area, NYC metro, FL Keys, ski-resort CO, etc.) have higher caps.

Program	2026 Limit	Official Source
Conforming (Fannie/Freddie)	$832,750	FHFA 2026 baseline →
FHA (most counties)	$541,287	HUD 2026 floor →
FHA (high-cost counties)	$1,249,125	HUD 2026 ceiling →
VA (full entitlement)	No statutory limit	VA Lender Handbook →
USDA Guaranteed	Based on borrower income	USDA Rural Development →

Verify everything

Estimate your monthly payment, then have a Simply Approved Mortgages Loan Officer return a personalized quote backed by our 1.5% lender-paid compensation. No obligation, no hard credit pull required for a soft quote.

Estimate your payment

Mortgage payment calculator

Home price$450,000

Down payment$45,000 (10.0%)

Interest rate6.25%

Loan term30 years

Credit tier (FICO)740-759

Property taxes (annual %)1.20%

Homeowner's insurance (annual)$1,650

HOA (monthly)$0

Principal & interest

$2,494

Taxes + insurance

$588

Loan amount

$405,000

Estimated monthly payment (PITI)

Illustrative — binding figures on your Loan Estimate

$3,082

Monthly payment breakdown

Principal & interest$2,494 · 81%

Property taxes (1.20%/yr)$450 · 15%

Homeowner's insurance$138 · 4%

Loan amortization summary (30-year term)

Total interest paid

$492,716

Total paid over term

$897,716

Year 1 · to interest

$25,178

Year 1 · to principal

$4,746

Assumes a fixed-rate 30-year loan held to maturity with no prepayments. Actual amortization varies with extra principal payments, escrow adjustments, PMI/MIP, and any rate resets on an ARM.

Free • No obligation

Use my estimate — see today's rates

We'll pre-fill your calculator numbers into the quote form below. A Simply Approved Mortgages Loan Officer will personally connect with you to walk through your scenario.

Home price$450,000

Down payment$45,000 (10.0%)

Loan amount$405,000

Rate / term6.25% · 30y

Credit tier740-759

Est. total PITI$3,082

See Today's Rates

Pre-approval is a soft check with no SSN and no hard credit pull. Not a loan approval or commitment to lend — binding figures appear on your federally required Loan Estimate.

Ready to move forward?

Turn these numbers into a real pre-approval

Continue on our secure application page. Your Simply Approved Mortgages Loan Officer will review your numbers and follow up within one business day.

Start My Approval →See Today's Rates Or call 877-813-7219

No obligation. Soft-pull options may be available.*

Estimates are for educational purposes only and are not a loan offer, commitment to lend, rate lock, or APR disclosure. Actual rate, APR, payment, and fees depend on credit qualifications, loan program, property, occupancy, LTV, DTI, and current market pricing. Property taxes, homeowners insurance, mortgage insurance, HOA dues, and flood insurance — where applicable — are estimated and may vary. Your binding figures appear on your Loan Estimate. Simply Approved Mortgages LLC, NMLS# 2620881. Equal Housing Opportunity.

Wholesale advantage

Compare loan officer compensation on your mortgage quote

Loan officer compensation is part of the cost of a mortgage. On eligible residential loans, Simply Approved Mortgages generally uses 1.5% lender-paid compensation. Enter the compensation shown on another lender's Loan Estimate to see the difference in dollars.

Loan amountCompensation % on another quoteExample only, change to your quote2.75% is a sample starting number, not a claim about any lender. Enter the figure from your own Loan Estimate.

Simply Approved Mortgages compensation (1.5%)$4,500

Quote you entered (2.75%)$8,250

Compensation difference on this illustration: $3,750.

How lower compensation can help you

Room for a lower rate

When less compensation is built into pricing, there can be room for a lower interest rate, which may lower your monthly payment.

Possible credits toward closing

Depending on the rate you choose, pricing can sometimes include a lender credit toward third-party closing costs, so you may bring less cash to closing.

More purchasing power

A lower rate means a lower monthly payment, which can lower your debt-to-income ratio and may help you qualify for more home on the same income.

Wholesale, not retail

As a mortgage broker we compare pricing from wholesale lenders instead of offering a single bank’s retail pricing.

Tip: On page 2 of your Loan Estimate, look at Section A, "Origination Charges." If the lender pays the loan officer, that compensation usually does not appear there as its own line; it is built into the interest rate. That is why comparing the rate and any lender credits side by side matters.

Get a second opinion on your Loan Estimate

Already have a Loan Estimate from another bank or broker? Share it with a Simply Approved Mortgages Loan Officer, who will compare the rate, fees and credits side by side with options we can arrange. No cost to request a review.

First nameLast nameEmailPhoneProperty stateLoan purposeEstimated purchase priceEstimated credit scoreTimeframeUpload your Loan EstimatePDF or photo, up to 10 MB (optional)Choose fileI agree. By checking this box and submitting this form, I provide my express written consent to receive calls and messages from or on behalf of Simply Approved Mortgages LLC (NMLS #2620881) at the telephone number(s) and email address(es) I provide, including for marketing and telemarketing purposes. Communications may be made using live agents, an automatic telephone dialing system or other automated technology, prerecorded or artificial voice messages, AI-generated or AI-assisted voice technology, SMS/MMS text messages, and email, even if my telephone number is listed on a state or federal Do Not Call registry.I confirm that I am the subscriber or customary user of the telephone number(s) provided and am authorized to provide this consent. Message and data rates may apply. Message frequency varies. Reply STOP to opt out of text messages or HELP for help.My consent to receive automated, prerecorded, artificial-voice, AI-generated, or marketing communications is not a condition of purchasing any property, good, or service, applying for a mortgage, or receiving mortgage services or information from Simply Approved Mortgages LLC. I may revoke my consent at any time.All loans are subject to applicable lender underwriting, eligibility requirements, and approval.

Illustration only — not a quote, lock, offer, or commitment to lend; binding figures appear on your Loan Estimate. Lender-paid compensation is paid by the lender, not directly by you, and is part of the loan's pricing, so the loan is not free of costs. A lower compensation figure does not by itself guarantee a lower rate or lower closing costs; individual results vary by credit, loan type, property and market conditions. Residential lending in FL and CO only. Simply Approved Mortgages LLC · NMLS #2620881 · Equal Housing Opportunity.

Ballpark lender, title, escrow, and prepaid costs before your Loan Estimate.

Open calculator →

Calculator results are illustrative only and are not a loan offer, commitment to lend, rate quote, or APR disclosure. Actual loan terms depend on credit qualifications, program guidelines, property type, and current market pricing. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Credit score matters

Know your mortgage credit score before you apply

Your FICO score is the single biggest lever on your mortgage rate. Pull your tri-bureau credit report through MyITINCredit.com, or order the same tri-merge mortgage credit report we'll actually underwrite from.

MyITINCredit.com · ITIN & SSN friendly · Tri-bureau · $1 for 15 days

Pull your credit at MyITINCredit.com

Our recommended credit-pull partner for U.S. mortgage borrowers — including ITIN buyers historically underserved by free-credit apps. Start for $1 for 15 days and get credit monitoring included while you see all three bureaus and the factors moving your score before you apply.

✓Tri-bureau view (Experian · Equifax · TransUnion)
✓Works for both SSN and ITIN borrowers
✓Credit monitoring included
✓Score factors and dispute tips before you apply

Visit MyITINCredit.com →

MyITINCredit.com is a service operated by Simply Approved Corporation (a DBA of that entity), which is the parent company of Simply Approved Mortgages LLC. $1 trial for 15 days applies; ongoing subscription and report fees are set by MyITINCredit.com and may apply. Simply Approved Mortgages may receive subscription revenue if you choose to enroll. Credit monitoring is optional and is not required to apply for or obtain a mortgage with us. MyITINCredit.com does not share your underlying credit data with our mortgage operations unless you separately authorize it.

Mortgage-grade · Tri-merge · Hard pull

Order your tri-merge mortgage credit report

The full tri-merge mortgage credit report (Experian + Equifax + TransUnion) underwriters actually use. Order it yourself via our secure MeridianLink SmartPay portal.

✓True tri-merge mortgage credit report
✓Identical to what underwriters review
✓Secured by MeridianLink — bank-grade encryption

Order my credit report →If you're ready to apply for your mortgage approval, apply now →

How your score shapes your rate

FICO score → mortgage pricing tiers

FICO Tier	Conventional	FHA	VA	Jumbo
760+	Best pricing tier	Best FHA pricing	Top VA pricing	Eligible (best pricing)
740–759	Excellent pricing	Very strong	Excellent	Eligible
720–739	Strong pricing	Strong	Strong	Eligible
700–719	Good pricing	Good	Good	Eligible (most programs)
680–699	Moderate add-ons	Solid	Solid	Limited options
660–679	Higher add-ons	Fully eligible	Eligible	Generally not eligible
620–659	Minimum conventional	Eligible	Eligible	Not eligible
580–619	Not eligible	Eligible (3.5% down)	Eligible (most lenders)	Not eligible
500–579	Not eligible	Eligible (10% down)	Case-by-case	Not eligible

Pricing tiers are illustrative and vary by investor overlays, LTV, DTI, occupancy, property type, loan amount, and current market pricing. Eligibility shown reflects typical guidelines and is not a commitment to lend. Your actual rate and APR appear on your Loan Estimate. Simply Approved Mortgages LLC · NMLS# 2620881 · Equal Housing Opportunity.

Colorado Pre-Approval

Ready to take the next step?

Pick your loan type and complete a short, tailored request on our secure application page. Your Simply Approved Mortgages Loan Officer follows up within one business day.

Start My Approval →See Today's Rates Or call 877-813-7219

No obligation. Soft-pull options may be available.*

Mortgage pre-approval in Colorado metros

City-specific pre-approval guides with local median prices, DPA programs, closing costs, and taxes for Colorado's top metros.

Explore the full guide

Keep reading — the rest of the buying playbook

Each of these is a deep-dive on one piece of the purchase mortgage process. Bookmark whichever you need next.

Guide

First-Time Home Buyer Guide

Programs, grants, and the exact playbook for buying your first home.

Read the guide →

Guide

Mortgage Pre-Approval

Underwriter-reviewed letter you can hand to a listing agent.

Read the guide →

Guide

Pre-Qualification vs. Pre-Approval

Which one you actually need and why agents only trust one.

Read the guide →

Guide

How Much Home Can I Afford?

Run real DTI, taxes, insurance, and reserves against your income.

Read the guide →

Guide

Closing Costs Explained

Every line of the Loan Estimate — and how to lower it.

Read the guide →

Internal library

Related mortgage guides across our library

Follow the next relevant guide for your scenario.

Purchase mortgages

Buying a home

State hubs

By state

Trusted government resources

These independent government resources can help you research mortgage programs, rates, and your rights before you apply.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, or any other government agency. Links are provided for your independent verification.

Simply Approved Mortgages is not affiliated with HUD, the CFPB, the FTC, the VA, USDA, FHFA, CHFA, metroDPA, or any other government agency. External links to official sources are provided for your independent verification and open in a new tab.

Simplify Your Mortgage Journey with These Resources

Home Value Report

Check Your Credit

Mortgage Calculator

Home Affordability Calculator

Pay for my Credit Report

Mortgage Document Checklist

Down Payment Assistance

Native American Home Loans

FHA Loan Limits

See Today's Rates

Refinance Guide

Ready to buy in Colorado?

A licensed Colorado loan officer will match you to the right program — FHA, VA, Conventional, Jumbo, or CHFA — and walk through your real numbers.

From the Blog

Mortgage insights & guides

Plain-language articles to help you understand the home loan process, save on closing costs, and make confident decisions.

View all articles→

First-Time Buyers

7 things every first-time homebuyer should know before applying

From credit prep to down payment assistance, here’s how to walk into your first mortgage application with confidence.

May 28, 20266 min read

Veterans

Using your VA loan benefit: a step-by-step guide

Eligibility, the Certificate of Eligibility, funding fees, and how to maximize zero-down purchasing power.

May 14, 20268 min read

Closing Costs

Where your closing costs actually go (and where you can save)

A line-by-line breakdown of the Loan Estimate and the fees that are negotiable versus fixed.

Apr 30, 20265 min read

Pre-Approval Request

Start My Approval

Complete this short request and a Simply Approved Mortgages Loan Officer will personally review your scenario. The form only asks what your program actually needs. Submitting it is not an application for credit and is not a commitment to lend.

What are you looking to do?

Pick one — the form adapts.

Pick a loan type

Programs for buying a home.

Government & conventional

Specialty credit

Build & renovate

Conventional loan — 3–20% down · 620+ FICO

Tell us about your scenario

The form below is tailored to Conventional loan — only the questions and documents your program needs.

Step 1 of 2 · about 90 seconds

See your options — one short screen

~90 seconds

Encrypted connection (HTTPS) NMLS# 2620881 Equal Housing Opportunity No hard credit inquiry until you authorize it

Which state are you buying in?

Simply Approved Mortgages LLC is licensed to arrange residential mortgage loans in Florida and Colorado only. We ask first so we never collect a mortgage inquiry we are not licensed to act on.

Purchase price and down payment help us size the conforming loan.

What's your goal?

Purchase price$450,000

Down payment (10.0%)$45,000

Credit tier (FICO range)

A range is enough here — no credit report is pulled and your credit is not affected.

Estimated monthly payment at these numbers

$3,431

Illustrative estimate only — not a quote, rate lock, offer of credit, or commitment to lend.

First name *

Last name *

Email *

Phone *

ZIP code *

Timeframe

I agree to be contacted by Simply Approved Mortgages LLC (NMLS #2620881) about this request by phone, text, and email, including with automated technology, and I understand consent is not a condition of any purchase or of receiving mortgage services. Message and data rates may apply; reply STOP to opt out.

Submitting this form is not an application for credit and is not a commitment to lend. No credit report is pulled at this step.

No obligation to apply Encrypted connection Verify NMLS# 2620881

Mortgage Broker — Not a LenderNMLS ID# 2620881NMLS Consumer AccessFlorida Mortgage Broker License #MBR7685Colorado Mortgage Company Registration

Licensing & Disclosures

Simply Approved Mortgages LLC | NMLS #2620881

Florida Branch Office (Miami, FL) | Branch NMLS #2688012

Florida Mortgage Broker License #MBR7685 | Colorado Mortgage Company Registration

Business Phone: (877) 813-7219

Equal Housing Opportunity

Broker identification. Simply Approved Mortgages LLC is a mortgage broker and is not a direct lender. We arrange residential mortgage loans with third-party wholesale lenders and do not make the lender's final credit decision or fund the loan. We arrange residential mortgage loans in Florida and Colorado. Business-purpose mortgage products may be arranged in additional states only where permitted by applicable law and pursuant to applicable licensing requirements or exemptions.

Credit and program terms. All loans are subject to lender credit approval, underwriting, acceptable appraisal or valuation when required, title review, insurance, and supporting documentation. Eligibility, programs, rates, APRs, points, lender credits, fees, payments, terms, loan amounts, down-payment requirements, mortgage insurance, and availability may vary based on borrower, property, occupancy, credit profile, loan-to-value ratio, debt-to-income ratio, lender, loan program, and state and may change without notice. Not all applicants, properties, products, or programs will qualify or be available in every state. Nothing on this site constitutes a loan approval, rate lock, offer, commitment to lend, guarantee of approval, or guarantee of terms or closing.

Rates, payments and calculators. Rates, APRs, payments, down payments, loan amounts, home values, estimated equity, savings, affordability estimates, closing costs, and other calculator or scenario results displayed on this site are estimates or illustrations unless expressly stated otherwise. Actual loan terms may differ. Taxes, homeowners insurance, mortgage insurance, association dues, lender charges, broker compensation, discount points, third-party charges, and other costs may apply. Advertised rates, payments, APRs, down payments, and other credit terms are subject to the assumptions and disclosures presented with the applicable advertisement. Applicable loan terms and disclosures will be provided as required for the particular transaction.

Mortgage products. FHA, VA, USDA, conventional, jumbo, non-QM, HELOC, reverse mortgage, down-payment-assistance, investment-property, DSCR, and other mortgage products referenced on this site are subject to their individual eligibility, underwriting, property, occupancy, and program requirements. Product availability varies by lender and jurisdiction. References to a mortgage product or program do not constitute a determination that a borrower or property qualifies.

Government-backed programs. Government-backed or government-insured mortgage programs referenced on this site may be subject to requirements established by the applicable government agency in addition to lender requirements. Government insurance or guaranties generally protect participating lenders against certain losses and do not constitute a guarantee of borrower approval.

Business-purpose products. DSCR, investment-property, and other business-purpose mortgage products referenced on this site are intended for qualifying business-purpose transactions. Business-purpose loans may be subject to different requirements and protections than consumer-purpose residential mortgage loans. Borrowers are responsible for accurately disclosing property occupancy and intended use.

Down payment assistance. Down payment or closing-cost assistance programs referenced on this site may be administered by governmental entities, housing finance agencies, nonprofit organizations, lenders, or other third parties. Program availability, funding, assistance amounts, eligibility requirements, repayment or forgiveness provisions, and other terms vary and may change or become unavailable without notice. Listing or referencing a program does not guarantee funding, eligibility, or mortgage approval.

Government affiliation. Simply Approved Mortgages LLC is not a government agency and is not affiliated with, acting on behalf of, sponsored by, or endorsed by HUD, FHA, VA, USDA, or any other federal, state, or local government agency. References to government agencies, programs, benefits, data, forms, or resources are provided for informational purposes and do not imply government sponsorship or endorsement of Simply Approved Mortgages LLC.

Fair lending. Equal Housing Opportunity. Simply Approved Mortgages LLC conducts business in accordance with applicable federal and state fair-housing and equal-credit-opportunity laws and does not discriminate on any prohibited basis.

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Simply Approved Mortgages LLC, 633 W 5th St, Ste 2600, Los Angeles, CA 90071 · 877-813-7219 · support@simplyapprovedmortgages.com. State licensing details available at the NMLS Consumer Access link above. © 2026 Simply Approved Mortgages LLC.

How this page connects

Where this fits in the buying a home library

This is our Colorado page for purchase mortgages.

Start one level up

The national purchase mortgages guideCovers the program rules that apply in every state.

What most readers open next

Getting pre-approvedBecause listing agents ask for it before they take an offer seriously.
The affordability worksheetBecause to set a price range you can actually document.
What closing costs coverBecause the second number every buyer underestimates.
The down payment estimatorBecause to compare low-down-payment structures side by side.
The document checklistBecause so underwriting does not stall on paperwork.

Ask Sam AI

Ask SAM anything about mortgages

SAM is the Simply Approved Mortgages AI assistant. It answers general questions using the reviewed guides published on this site and links you to the primary government source. It is educational only — it does not quote a rate, payment, APR, approval or commitment to lend. A Simply Approved Mortgages Loan Officer reviews every scenario before any terms are confirmed.

Hi, I'm SAM — an AI assistant for Simply Approved Mortgages. I can explain loan programs, closing costs, DTI, down payments and which calculator or guide to use. I'm not a licensed loan officer, and nothing here is a quote, approval or commitment to lend.

Ask Sam AI provides general educational information only. It is an automated assistant, may be incomplete or out of date, and does not provide legal, tax or financial advice. Nothing it produces is a rate quote, APR, pre-approval, offer or commitment to lend. Never share a Social Security number, ITIN, date of birth, account number or password in chat. Simply Approved Mortgages LLC (NMLS #2620881) arranges residential mortgage loans in Florida and Colorado. Eligibility, terms, conditions and availability vary by borrower, property, lender, loan program and state, and all loans are subject to lender underwriting and approval. Equal Housing Opportunity.

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1Sign in to your Google account and search a mortgage topic such as "mortgage rates".
2Select the icon next to "Top stories" to open the preferred sources panel.
3Search for Simply Approved Mortgages, tick the box, and save.

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Preferred sources is a Google Search feature controlled entirely by you and by Google. Simply Approved Mortgages LLC (NMLS #2620881) does not control search results and makes no representation about how or whether our content will appear. Educational content only — not a quote, lock, offer, or commitment to lend.

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Purchase Mortgages in Colorado, Built for the Colorado Market

Purchase mortgages built around what Colorado buyers actually deal with.

Start My Approval for a Colorado purchase mortgage

What is a purchase mortgage in Colorado?

How the Colorado home-buying process works step by step

Why Colorado buyers work with a Colorado lender, not a national call center

Down payment assistance (DPA) programs for Colorado buyers

How DPA helps, why it can help, and why American buyers in Colorado use it

Simply Approved Mortgages Down Payment Assistance

DPA amount calculator & eligibility checker

Amount calculator

Eligibility checker

Statewide Colorado DPA programs

Local / county DPA programs for Colorado

National DPA & counseling resources

Colorado housing market — live data & official statistics

Buying a home in Denver, Colorado Springs, Fort Collins, Aurora, Boulder, or Pueblo

What renters in Colorado could buy at payment parity

Colorado housing market overview

Front Range core

Mountain-resort markets

Western Slope & rural Colorado

Southern Colorado

Property taxes in Colorado

Residential assessment rate

Mill levies

TABOR

Closing costs in Colorado

Lender charges

Third-party services

Prepaids & escrow

Colorado first-time buyer programs

CHFA (Colorado Housing and Finance Authority)

metroDPA — Metro Mortgage Assistance Plus

City and county programs

HUD-approved housing counseling

Local lending considerations in Colorado

Special and metro taxing districts

HOAs and master-planned communities

Comparable sales in mountain and resort markets

Water, well, and septic

Military and VA experience

USDA address eligibility

Colorado appraisal process

Front Range and suburban appraisals

Mountain and resort appraisals

FHA / VA appraisal requirements

Appraisal gap

Insurance considerations in Colorado: mountains, wildfire, and hail

Wildfire

Hail

Flood

Why Colorado buyers choose Simply Approved Mortgages

Competitive mortgage options

Licensed mortgage professionals

Fast online application

Multiple loan programs

Personalized guidance from application through closing

Colorado market experience

See how your Colorado mortgage payment compares across programs

Find your fit in Colorado in 30 seconds

FHA Loan — Colorado

VA Loan — Colorado

USDA Loan — Colorado

Conventional — Colorado

Jumbo Loan — Colorado

Doctor / Professional — Colorado

1% Down Conventional — Colorado

Non-QM — Colorado

DSCR — Colorado

Reverse Mortgage — Colorado

Not sure which loan actually fits you?

Purchase mortgage comparison table in Colorado

Conventional vs FHA, VA, and USDA — which one fits?

Conventional vs FHA

Conventional vs VA

Conventional vs USDA

Pros and cons of buying a home in Colorado with a purchase mortgage

How to apply for a purchase mortgage in Colorado, step by step

Check your credit and pay down balances