Tools
Colorado mortgage payment calculator
Adjust price, down payment, rate and term to estimate the monthly principal and interest on a Colorado home.
Estimated monthly payment
$3,792
- Loan amount
- $600,000
- Down payment
- $150,000 (20%)
- Interest rate
- 6.5%
- Loan term
- 30 years
Principal and interest only. Doesn't include taxes, insurance, HOA dues or mortgage insurance. Rates shown are examples, not a quote.
Estimates for information only. Your actual rate and payment depend on your credit, down payment, property and loan program.
What makes up your payment
Most monthly mortgage payments have four parts.
Principal
Interest
Property taxes
Insurance
Calculator questions
A common guideline keeps monthly housing costs (mortgage, taxes and insurance) under about 28% of gross monthly income, though lenders approve above that depending on the program. Mountain homes add costs to plan for: higher insurance, HOA dues, snow removal and winterizing.
A fixed-rate mortgage keeps the same rate for the whole term. An adjustable-rate mortgage (ARM) has a fixed period, then adjusts within caps. Conforming ARMs today are usually 5/6, 7/6 or 10/6, which adjust every six months after the fixed period.
Higher credit scores generally qualify for better pricing. Second homes and investment properties can have stricter credit requirements than a primary residence.
Each point costs 1% of the loan amount. Points can make sense if you'll keep the loan long enough for the lower payment to cover the upfront cost. Divide the cost by the monthly savings to find your break-even month.
No. The calculator gives estimates from the numbers you enter. Your actual rate and payment depend on your credit, down payment, property and loan program.
Loan programs
More tools
Want a real number instead of an estimate?
A pre-approval uses your credit, income and property. Start online, or call Andrew to talk it through.