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Colorado Springs

Current Mortgage Rates in Colorado Springs, Colorado

Compare mortgage rates and fees for leading lenders in Colorado Springs, CO. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Colorado Springs.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Colorado Springs. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Colorado Springs, CO as of September 22, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Colorado Springs, CO Mortgage Rates Compare?

September 22, 2019

The current average rate for a 30 year fixed rate mortgage in Colorado Springs is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Colorado Springs, CO Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Colorado Springs, Colorado?

The median home value for Colorado Springs, CO (El Paso County) is $311,712

The median household income for Colorado Springs, CO (El Paso County) is $64,447

Based on current mortgage rates and a 10% down payment, you need to make $57,832 per year to buy the median priced home in Colorado Springs

The home price you can afford to buy based on household income in Colorado Springs is 111% of the median home value which means housing prices are average

Colorado Springs (El Paso County) ranks 38 out of 64 counties in Colorado and 2,927 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Colorado Springs, CO is average

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Loan Limits for Colorado Springs, Colorado

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Colorado Springs (El Paso County) below.

Conforming loan limits for Colorado Springs, CO

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Colorado Springs, CO

1 unit: $339,250
2 units: $434,300
3 units: $524,950
4 units: $652,400

VA loan limits for Colorado Springs, CO

1 unit: $484,350

Additional Mortgage Resources for Colorado Springs, CO Residents

Mortgage Rates for Colorado Cities

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Lakewood Mortgage Rates

Pueblo Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index