Colorado First-Time Homebuyer Calculator
First-time homebuyer costs in Colorado: $18,550 FHA down payment, $11,660 closing costs, 0.51% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for Colorado. Includes down payment, closing costs (2.2%), PMI (required below 20% down), property tax (0.51%), and homeowners insurance ($2,820/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
Colorado homebuyer facts: Median price $530,000 | 20% down = $106,000 | FHA 3.5% down = $18,550 | Closing costs ~$11,660 | Property tax 0.51% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in Colorado?
For Colorado's median home ($530,000): FHA minimum down payment is $18,550 (3.5%), plus $11,660 in closing costs. Total minimum: ~$30,210. With 20% down to avoid PMI: ~$117,660.
What are closing costs in Colorado?
Colorado closing costs average 2.2% of the home price, or about $11,660 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0.01%.
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