State Guides/Colorado
CO

Colorado Home Buying Guide

West Region · Non-Judicial Foreclosure State

Homestead Exemption

Key Facts at a Glance

Median Home Price
$555,000
Property Tax Rate
0.51%
Transfer Tax
0.01%
Attorney Required
No
Foreclosure Type
Non-Judicial

What Makes Colorado Unique

Below-average property taxes for a high-cost state

CHFA offers 30-year fixed loans below market rate

Denver metro is extremely competitive

First-Time Buyer Programs in Colorado

1

CHFA First Step

Contact your state housing finance agency for current eligibility and rates

2

CHFA SmartStep

Contact your state housing finance agency for current eligibility and rates

3

CHFA Down Payment Assistance Grant

Contact your state housing finance agency for current eligibility and rates

Program availability, income limits, and interest rates change frequently. Verify current terms with your lender or state housing finance agency.

Closing Costs in Colorado

1%
Avg Closing Costs
of purchase price
$5,550
Estimated Closing Costs
on median-priced home
0.01%
Transfer Tax
may be split with seller

Attorney at Closing

Attorney Not Required

Colorado does not require an attorney at closing. A title company typically handles the transaction. Consider hiring one anyway for complex deals.

Local Tips for Colorado Buyers

1

CHFA programs require homebuyer education course.

2

Colorado's transfer tax is minimal — only 0.01%.

3

Mountain towns have seasonal demand — timing matters.

Estimated Annual Ownership Cost in Colorado

Based on the median home price of $555,000 with a 10% down payment and 7% mortgage rate.

Annual Mortgage Payment$39,860
Annual Property Taxes$2,831
Homeowners Insurance (est.)$2,775
Maintenance (est. 1%/yr)$5,550

Ready to Calculate Your Numbers?

Use our free calculators to estimate your monthly payment, affordability, and closing costs in Colorado.