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.

Mortgage Rates in Colorado Springs, CO as of September 29, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


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

September 29, 2020

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
Colorado Springs, CO Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Colorado Springs, Colorado?

Below we provide helpful information on the real estate market, home prices and housing affordability in Colorado Springs. Understand how much you need to earn to afford a home in Colorado Springs, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Colorado Springs fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Colorado Springs is right for you.

The median home value for Colorado Springs, CO (El Paso County) is $337,896

Based on current mortgage rates and a 10% down payment, you need to make $60,812 per year to buy the median priced home in Colorado Springs

With this income, you could qualify for a $304,106 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Colorado Springs is $1,408

The median household income for Colorado Springs, CO (El Paso County) is $65,952

Based on this income, you can afford a home valued at approximately $366,453

The home price you can afford to buy based on household income in Colorado Springs is 108% 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 2,937 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


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: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Colorado Springs, CO

1 unit: $356,500
2 units: $456,350
3 units: $551,650
4 units: $685,550

VA loan limits for Colorado Springs, CO

1 unit: $510,400

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