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Conventional loans in Colorado

Quick answer

Conventional loans in Colorado allow as little as 3% down (about $15,066 on a $502,200 home) with a 620+ credit score, up to the $832,750 baseline conforming limit.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

Conventional loan snapshot for Colorado

ItemEstimate
Minimum down payment3%
Minimum credit score620
Typical CO home value$502,200
3.5% down on typical home$17,577
20% down on typical home$100,440
Avg. effective property tax0.49%/yr (~$204/mo)
Income for typical home (31% rule)$151,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Colorado programs pair with Conventional loans?

  • CHFA Down Payment Assistance Grant: A grant (no repayment) toward down payment and closing costs, with a slightly higher first-mortgage rate.
  • CHFA Second Mortgage Loan: A deferred second loan for down payment assistance repaid when the home is sold or refinanced.

Details and current limits: Colorado Housing and Finance Authority (CHFA).

How does a conventional loan work?

Conventional loans are made by private lenders and usually sold to Fannie Mae or Freddie Mac. Because they follow those agencies' guidelines, they're called conforming loans. You can choose a fixed rate (15, 20 or 30 years) or an adjustable rate.

Your rate and mortgage insurance cost depend heavily on your credit score and down payment, so improving either before you apply can noticeably lower your payment.

Who qualifies for a conventional loan?

  • Credit score: generally 620 minimum.
  • Debt-to-income (DTI): up to 45%, and sometimes 50% with strong compensating factors.
  • Down payment: 3% (HomeReady, Home Possible, 97% LTV programs) to 5%+.
  • Steady, documented income — usually two years of history.
  • Property: primary homes, second homes and investment properties are all allowed (with higher down payments for non-primary homes).

Conventional loans in Colorado cities

Conventional in DenverConventional in Colorado SpringsConventional in AuroraConventional in Fort CollinsConventional in LakewoodConventional in ThorntonConventional in ArvadaConventional in WestminsterConventional in PuebloConventional in GreeleyConventional in CentennialConventional in BoulderConventional in Highlands RanchConventional in LongmontConventional in LovelandConventional in Castle RockConventional in BroomfieldConventional in Grand JunctionConventional in Commerce CityConventional in ParkerConventional in LittletonConventional in BrightonConventional in Security-WidefieldConventional in NorthglennConventional in WindsorConventional in Pueblo WestConventional in Dakota RidgeConventional in EnglewoodConventional in Ken CarylConventional in Wheat RidgeConventional in ErieConventional in LafayetteConventional in FountainConventional in ColumbineConventional in EvansConventional in Four Square MileConventional in LouisvilleConventional in MontroseConventional in GoldenConventional in CliftonConventional in SherrelwoodConventional in DurangoConventional in Cimarron HillsConventional in JohnstownConventional in FirestoneConventional in Cañon CityConventional in WelbyConventional in FrederickConventional in Greenwood VillageConventional in Black ForestConventional in Federal HeightsConventional in Lone TreeConventional in FruitaConventional in Steamboat SpringsConventional in SterlingConventional in SuperiorConventional in Castle PinesConventional in The PineryConventional in BerthoudConventional in Wellington

Frequently asked questions

Yes. Conventional loans are available statewide in Colorado through approved lenders, subject to county loan limits where they apply.

Often yes. Colorado Housing and Finance Authority (CHFA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve Colorado.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.