When financing a higher-priced home in Denver, a jumbo loan can be the ideal fit for your needs. Jumbo programs today allow for more down payment flexibility, lower rates and a variety of term options. A jumbo mortgage is a home loan that exceeds the conventional conforming limit set by Fannie Mae and Freddie Mac for a single-unit property.
In Colorado, the majority of counties are limited to $647,200 and with some higher cost counties like Boulder, Garfield, Pitkin, Lake that can go as high as $970,800. In Arapahoe County, the current conventional loan limit is $684,250.
See the complete list of Colorado Conforming Loan Limits in the chart below. *FHA loan limits are set at 65% of the conforming loan limit and can vary by county. VA limits follow the conforming loan limit above. Additionally, VA jumbo loans can be obtained for eligible Veterans that require a high balance mortgage. Read more about VA high balance loans here.
* High-Cost locations are areas in which 115% of the local median home value exceeds the baseline conforming loan limit. The maximum limit is 150% of the conforming loan limit.
According to Zillow, the average home price in the Denver area is now approaching $650,000, this represents a 22% increase from last year.
Jumbo Application & Loan Terms:
Obtaining a jumbo loan is a process much like other conventional or FHA loans. Borrowers will need to submit a standard application which can be done over the phone or online. Documentation of income and assets is required for all the Jumbo programs, please read the Jumbo Purchase Page above for more details. Qualified buyers will have a variety of options including traditional 20% down programs, along with higher loan to value programs up to 90%, 95%, or even the new 96.5% depending on the loan amount. Please read more about the down payment and loan limits for each program on the home page.
Homebuyers can also choose from an assortment of term options. All programs are fully amortized and require standard principal and interest payments. The most popular choice in today’s marketplace due to the low-interest environment is fixed-rate loans. A fixed-rate is a loan where the interest rate never changes throughout the life of the loan and is typically the preferred choice when interest rates are at relative lows.
Most jumbo lenders provide fixed-rate loan terms ranging from 10- 30 years in five-year increments. This means you can often select a 10, 15, 20, 25 or 30-year term. Which term is better? The longer the term, the lower the monthly payment. However, the buyer will pay more in long-term interest with the longer term. The 30-year fix rate loan is perhaps the most popular choice with the 15 year fixed the second. The 30-year loan increases purchasing power due to the longer term.
When selecting a loan term, buyers should find the ideal balance with a comfortable monthly payment that pays the lowest amount of interest possible.
A hybrid loan is an adjustable-rate mortgage or an “ARM” that is fixed for an initial period of 3, 5, 7 or 10 years. These loans are written as 3/1, 5/1, 7/1 and 10/1. At the end of the initial fixed term, the loan then turns into a mortgage that can adjust annually for the rest of the loan term. The advantage a hybrid has over a fixed rate is the lower initial interest rate. For example, a 30 year fixed rate jumbo loan might have a rate of 4. 5% yet a 5/1 hybrid might be at 4.0% for the first five years.
For buyers that do not anticipate owning the property before the loan adjusts, an ARM can provide a lower monthly payment compared to the fixed. If someone isn’t sure and rates are at relative lows, a fixed rate option is the more prudent choice. Early termination or “prepayment” penalties are not required for the majority of programs. Borrowers can move, sell or refinance anytime they choose.
Buyers that want to learn more about any of the low down payment Jumbo programs can call the number above or just fill out the Quick Contact Form on this page. Serving all buyers in Colorado, including Denver, Arapahoe, Jefferson, Adams and El Paso County, We are available 7 days a week to serve you.
| County Name | 1-Unit | 2-Units | 3-Units | 4-Units |
| ADAMS CO | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| ALAMOSA CO | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| ARAPAHOE | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| ARCHULETA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| BACA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| BENT | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| BOULDER | $747,500 | $956,950 | $1,156,700 | $1,437,500 |
| BROOMFIELD | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| CHAFFEE | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| CHEYENNE | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| CLEAR CREEK | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| CONEJOS | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| COSTILLA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| CROWLEY | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| CUSTER | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| DELTA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| DENVER | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| DOLORES | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| DOUGLAS | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| EAGLE | $862,500 | $1,104,150 | $1,334,700 | $1,658,700 |
| ELBERT | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| EL PASO | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| FREMONT | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| GARFIELD | $856,750 | $1,096,800 | $1,325,800 | $1,647,650 |
| GILPIN | $647,200 | $875,950 | $1,058,850 | $1,315,900 |
| GRAND | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| GUNNISON | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| HINSDALE | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| HUERFANO | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| JACKSON | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| JEFFERSON | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| KIOWA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| KIT CARSON | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| LAKE | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| LA PLATA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| LARIMER | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| LAS ANIMAS | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| LINCOLN | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| LOGAN | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| MESA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| MINERAL | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| MOFFAT | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| MONTEZUMA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| MONTROSE | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| MORGAN | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| OTERO | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| OURAY | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| PARK | $684,250 | $875,950 | $1,058,850 | $1,315,900 |
| PHILLIPS | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| PITKIN | $856,750 | $1,096,800 | $1,325,800 | $1,647,650 |
| PROWERS | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| PUEBLO | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| RIO BLANCO | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| RIO GRANDE | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| ROUTT | $678,500 | $868,600 | $1,049,950 | $1,304,850 |
| SAGUACHE | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| SAN JUAN | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| SAN MIGUEL | $756,700 | $968,700 | $1,170,950 | $1,455,200 |
| SEDGWICK | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| SUMMIT | $822,375 | $1,053,000 | $1,272,750 | $1,581,750 |
| TELLER | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| WASHINGTON | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| WELD | $647,200 | $828,700 | $1,001,650 | $1,244,850 |
| YUMA | $647,200 | $828,700 | $1,001,650 | $1,244,850 |