Denver, Colorado Mortgage Refinance Interest Rates
Discover the latest mortgage interest rates to make informed decisions about your home refinancing.
Interest rate over time in Denver, Colorado
Timeframe
Daily refinance averages provided by the Mortgage Research Center.
Compare mortgage rates in Denver, Colorado
Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in CO, total loan amount of $228,000.
| Lender | APR / Rate | Monthly Payment | |
|---|---|---|---|
Rate data provided by RateUpdate.com. Displayed by Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details
Should You Refinance in Denver?
3.5% annual appreciation
· Data updated 6/7/2026In Denver's stable market, refinancing decisions should focus on interest rate comparisons. Even a 0.5% rate reduction can result in significant savings over the life of your loan.
Local Market Context
Denver, Colorado homes have a median value of $325,000, with 3.5% year-over-year appreciation. Consistent home values provide a solid foundation for refinancing decisions focused on lowering interest rates and monthly payments.
Estimated Monthly Payment in Denver
Based on the median home price of $325,000 with 20% down at 6.61% (30-year fixed):
| Principal & Interest | $1,662.23/mo |
| Property Tax | $138/mo |
| Homeowner's Insurance (est.) | $125/mo |
| Estimated Total (PITI) | $1,925/mo |
Rate Savings Scenarios for Denver
How your monthly principal & interest payment changes at different rates (20% down on $325,000 median home):
| Interest Rate | Monthly P&I | vs. Current Rate |
|---|---|---|
| Current rate (6.61%) | $1,662 | — |
| 6.11% (–0.5%) | $1,577 | –$85/mo |
| 5.61% (–1.0%) | $1,494 | –$168/mo |
Down Payment Impact in Denver
Monthly principal & interest at 6.61% for different down payments on the $325,000 median home:
| Down Payment | Loan Amount | Monthly P&I |
|---|---|---|
| 10% down ($32,500) | $292,500 | $1,870 |
| 15% down ($48,750) | $276,250 | $1,766 |
| 20% down ($65,000) | $260,000 | $1,662 |
Property Tax Impact
Property taxes in Denver, Colorado average 0.51% of home value, which is lower compared to the national average. When refinancing, it's important to remember that your total monthly payment includes these taxes (approximately $138 per month for a median-valued home). A lower interest rate might reduce your principal and interest payment, but your property tax portion stays the same.
Colorado ranks 49th (3rd lowest in usa) nationally for property taxes, which directly affects your total monthly payment when buying or refinancing.
Cost of Living Context
Denver's cost of living is 2% above the national average (index: 102), meaning housing costs tend to run higher than typical — which typically means higher housing costs but also historically stronger equity growth potential.
Calculate Your Exact Refinance Savings
Get a personalized analysis based on your specific mortgage details, compare multiple offers, and see your break-even point.
Use Refinance CalculatorNavigating Refinancing in Denver's Premium Market
Hey Denver! The Mile High City features a highly competitive real estate landscape. With a high cost of living and median home prices sitting at $325,000, Denver homeowners are focused on maximizing their financial leverage and keeping monthly payments in check.
The High-Equity & LTV Factor
Because Denver is a high-demand market, optimizing your Loan-to-Value (LTV) ratio—the percentage of your home's value you still owe—is critical for securing the best refinance terms.
With values growing at a steady 6.7%, your home is building solid equity. If your LTV dips below 80%, you are in a prime position to negotiate lower rates or eliminate Private Mortgage Insurance (PMI) to help offset the city's high cost of living.
Property Tax Tip for Denver Homeowners
Because your taxes are so low, almost your entire monthly payment goes directly to your loan's principal and interest. This means securing a lower interest rate through a refinance has a massive, immediate impact on your wallet.
Colorado Refinance Programs for Denver Residents
The Colorado Housing and Finance Authority (CHFA) is the go-to resource here. Check out their CHFA FirstStep & SmartStep programs. They are known for manual underwriting flexibility, meaning if you have a complex financial history but solid income, they might approve your refinance when big national banks won't.
What Interest Rate Drop Makes Refinancing Worth It in Denver?
In Denver's stable market with 3.5% annual appreciation, refinancing is generally worthwhile when you can reduce your rate by at least 0.75-1%. For a $325,000 home with an 80% LTV ($260,000 loan), dropping from 7% to 6% saves approximately $140/month. With typical closing costs around $6,500, you'd break even in about 46 months. If you plan to stay in your home at least 4 years, refinancing makes financial sense.
How Do I Calculate My Break-Even Point for Refinancing in Denver?
Calculate your break-even point by dividing total closing costs by monthly savings. In Denver, closing costs typically run 2-3% of your loan amount. If you're refinancing $260,000 (80% of Denver's $325,000 median home value), expect around $6,500 in costs. Compare your current monthly payment to your new payment including the 0.51% property tax, insurance, and the new principal/interest. If refinancing saves $150/month, your break-even is 43 months. Don't forget to factor in how long you plan to keep the home.
Should I Refinance from a 30-Year to 15-Year Mortgage in Denver?
Shortening your term from 30 to 15 years can save substantial interest and typically offers rates 0.5-0.75% lower. On Denver's median home value of $325,000, you could save over $100,000 in interest over the loan's life. However, monthly payments increase significantly-a $260,000 loan at 6% jumps from approximately $1,765/month (30-year) to $2,265/month (15-year at 5.5%). Refinance to a 15-year if you can comfortably afford the higher payment and want to build equity faster in Denver's stable market.
Can I Refinance If I Still Have PMI in Denver?
Yes, and eliminating PMI is often a primary refinancing goal. PMI typically costs 0.5-1% of your loan amount annually. On a $260,000 mortgage in Denver, that's $200-400/month. With 3.5% annual appreciation plus principal paydown, you may have crossed the 80% LTV threshold. If you purchased with 5-10% down 3-4 years ago, appreciation likely brought you to 20%+ equity. Refinancing removes PMI permanently (unlike conventional loans where it can take years to cancel), immediately lowering your payment even if you get the same interest rate.
Is a No-Closing-Cost Refinance a Good Deal in Denver?
No-closing-cost refinances roll $7,800 in typical closing costs into your loan balance or offset them with a slightly higher interest rate (usually 0.25-0.5% higher). In Denver's stable market, this makes sense if you plan to move within 3-5 years, avoiding the $43-month break-even period on traditional refinances. However, if you're staying long-term, paying closing costs upfront and getting a lower rate saves more money over time. Calculate both scenarios: upfront costs with lower rate versus no costs with higher rate over your expected timeline.