Colorado Jumbo Loan

A jumbo mortgage loan is a loan whose amount exceeds the borrowing limit set by Fannie Mae and Freddie Mac for conforming loans. For the majority of counties, the current limit in Colorado is $806,500 for a single-family unit. In Adams, Arapahoe, Broomfield, Clear Creek, Denver, Douglas, Elbert, Gilpin, Jefferson and Park counties the limit is $914,250. Several counties have loan limits of $989,000, and the highest limit, at $1,209,750. So if you take a mortgage with an amount that exceeds that set limit you will have taken a jumbo mortgage.

Colorado Jumbo Loans

Jumbo loans are necessary for many reasons, but the biggest advantage to you as a homebuyer is that they allow you to make high-cost home purchases. It is practically impossible to finance some types of homes in certain Colorado counties. A good example is Douglas County where the average list price is $665,000. In some smaller more affluent counties like San Miguel, the average list price for a home is around $2,700,000.

Today's Colorado Mortgage Rates

30 Yr. Fixed 6.250% APR 6.754%
15 Yr. Fixed 5.375% APR 5.850%
30 Yr. Fixed FHA 5.625% APR 6.561%
30 Yr. Fixed VA 5.625% APR 6.014%
Mortgage Rates as of April, 2 2025 See All Rates | See Rate Assumptions

The high value of a Colorado jumbo loan makes it riskier from the perspective of the lender. That is why you may face stringent qualification requirements compared to when you are applying for a conventional or government backed mortgage. For instance, 20% down payment is a common requirement, but some Colorado lenders can go as low as 10% or 15% down as long as you have sufficient income and assets. Another common requirement is a credit score of at least 680.

There is a special program for interest only jumbo loans as well. This amazing mortgage program is specifically designed for high-value properties, allowing borrowers to make interest-only payments for the first 10 years before transitioning to principal and interest payments for the remaining 30 years. This means lower initial monthly payments, which makes buying a larger, more expensive home a lot more accessible.

The more strict qualification standards doesn’t necessarily mean you can’t qualify for a Colorado jumbo loan with ease. If you have a good real estate company behind you, the whole process becomes much easier. In case you need help with your jumbo mortgage loan don’t look any further than Moreira Team.