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.
November 13, 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%
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
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
FHA loan limits for Colorado Springs, CO
VA loan limits for Colorado Springs, CO
Learn what price home you can afford to buy in Colorado Springs
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