Colorado Mortgage Calculator
Estimate your monthly mortgage payment in Colorado with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in Colorado is $570,000 with an effective property tax rate of 0.55%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
Optional
| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $34,586.76 | $5,096.84 | $29,489.92 | $450,903.16 |
| 1 | $2,882.23 | $412.23 | $2,470.00 | $455,587.77 |
| 2 | $2,882.23 | $414.46 | $2,467.77 | $455,173.31 |
| 3 | $2,882.23 | $416.71 | $2,465.52 | $454,756.60 |
| 4 | $2,882.23 | $418.97 | $2,463.26 | $454,337.63 |
| 5 | $2,882.23 | $421.23 | $2,461.00 | $453,916.40 |
| 6 | $2,882.23 | $423.52 | $2,458.71 | $453,492.88 |
| 7 | $2,882.23 | $425.81 | $2,456.42 | $453,067.07 |
| 8 | $2,882.23 | $428.12 | $2,454.11 | $452,638.95 |
| 9 | $2,882.23 | $430.44 | $2,451.79 | $452,208.51 |
| 10 | $2,882.23 | $432.77 | $2,449.46 | $451,775.74 |
| 11 | $2,882.23 | $435.11 | $2,447.12 | $451,340.63 |
| 12 | $2,882.23 | $437.47 | $2,444.76 | $450,903.16 |
Year 2 | $34,586.76 | $5,438.18 | $29,148.58 | $445,464.98 |
Year 3 | $34,586.76 | $5,802.36 | $28,784.40 | $439,662.62 |
Year 4 | $34,586.76 | $6,190.97 | $28,395.79 | $433,471.65 |
Year 5 | $34,586.76 | $6,605.60 | $27,981.16 | $426,866.05 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
Colorado Housing Snapshot
| Median Home Value | $570,000 |
| Effective Property Tax Rate | 0.55% |
| Estimated Annual Property Tax | $3,135 |
| State Income Tax | Flat 4.4% |
| Homestead Exemption | $250,000 ($350,000 for 60+ or disabled) |
| Avg Homeowners Insurance | $1,955/yr |
| Transfer & Recording Taxes | No state real estate transfer tax; some municipalities charge transfer fees |
What Makes Buying in Colorado Different
Colorado has one of the lowest effective property tax rates in the US at 0.55%, the result of TABOR (Taxpayer Bill of Rights) constitutional restrictions that cap state revenue growth. On a median $570,000 home, annual property tax runs around $3,135. The state moved to a flat 4.4% income tax in 2022, simplifying take-home calculations. Denver metro and Boulder dominate the housing market; Boulder remains one of the most expensive non-coastal cities in the country with a median above $875,000. Colorado Springs offers more affordable entry to Front Range living. Insurance has become a growing concern as wildfire exposure expands in mountain communities and the wildland-urban interface. The 2021 Marshall Fire in Boulder County destroyed over 1,000 homes, prompting major insurers to restrict new policies in similar zones. Average premiums of $1,955 understate the cost in WUI areas where premiums can exceed $5,000 per year. Hail damage is another major insurance driver across the Front Range.
Top Cities in Colorado
| City | Median Home Value |
|---|---|
| Denver | $620,000 |
| Colorado Springs | $475,000 |
| Aurora | $510,000 |
| Fort Collins | $580,000 |
| Boulder | $875,000 |
Colorado's Taxpayer Bill of Rights (TABOR) caps state and local government revenue growth at population growth plus inflation, with any excess refunded to taxpayers. This has kept property tax rates low at 0.55% effective. However, in 2023 the state allowed temporary increases in assessment rates following rapid home price appreciation, so the effective rate for new buyers can vary year to year.
Wildfire risk has reshaped the Colorado insurance market. State Farm, USAA, and other major insurers have restricted new policies in wildland-urban interface (WUI) zones. The Colorado FAIR Plan, established after the 2021 Marshall Fire, serves as the insurer of last resort. Before buying in mountain or foothill areas, get an actual insurance quote; premiums in high-risk zones can exceed $5,000 per year.
Colorado has no state real estate transfer tax, one of only 13 states without one. However, some municipalities including Aspen, Avon, and Vail charge local transfer fees that can reach 2% of the sale price. Always check local fees during contract negotiation.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.