Free tool · Updated weekly
Colorado mortgage payment calculator
Your real monthly payment, not just principal and interest. Includes this week's average rate, FHA and VA fees, property tax, insurance, HOA and the Colorado metro district tax most calculators forget.
Estimated monthly payment
$0
- Loan amount
- $0
- Down payment
- $0
Estimate only, not a loan offer or commitment to lend. Your rate and payment depend on credit, income, property and program guidelines. Loans through Barrett Financial Group, LLC, NMLS #181106. Tamila Aspen, NMLS #2490507.
Why two homes at the same price can cost different amounts each month
Metro district tax. In many newer Colorado neighborhoods, an extra tax on the property tax bill repays the roads and utilities built for the subdivision. It can add hundreds of dollars a month. Older neighborhoods usually don't have it.
HOA dues. Condos and townhomes often include exterior maintenance, insurance for the building, water or trash. A higher HOA can still be the cheaper option overall.
Loan program. FHA adds an upfront fee and monthly mortgage insurance. VA has no monthly mortgage insurance but usually a one-time funding fee. Conventional loans need PMI only until you reach 20% equity.
Tamila is both a real estate agent and a mortgage loan officer, so she calculates the full payment for every home you like before you make an offer.
Calculator questions
Where does the interest rate in this calculator come from?
It is this week's national average for a 30-year or 15-year fixed mortgage from the Freddie Mac Primary Mortgage Market Survey. It updates automatically every week. Your own rate depends on your credit, down payment, loan program and the day you lock, so ask Tamila for a real quote.
What is a metro district tax in Colorado?
Many newer Colorado neighborhoods were built with a metro district that paid for roads, water lines and parks. Homeowners repay it through extra mills on the property tax bill, often for decades. Two homes at the same price can have very different monthly payments because of it, so check the full tax bill for any home you consider.
How much is FHA mortgage insurance?
FHA loans have an upfront premium of 1.75% of the loan, usually added to the loan, plus an annual premium paid monthly: 0.55% for most 30-year loans with less than 5% down, and 0.50% with 5% or more down (higher for loans above $726,200). With less than 10% down it lasts for the life of the loan.
How much is the VA funding fee?
For a purchase with less than 5% down it is 2.15% of the loan on first use and 3.3% on later use. With 5% down it is 1.5%, and with 10% down it is 1.25%. Veterans who receive VA disability compensation, Purple Heart recipients and some surviving spouses are exempt. Your Certificate of Eligibility shows whether you are exempt.
Does this include closing costs?
No. The cash figure covers only the down payment. Closing costs in Colorado are separate and can sometimes be paid by the seller. Tamila gives you a full estimate for a specific home.
Want exact numbers for a real home?
Send Tamila the address or your budget. She will calculate the full payment and check what you qualify for, usually the same day.