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2023 Colorado Conforming Loan Limits
April 3rd, 2023 | Tom Theewis
When you get a mortgage, there’s a limit to how much you can borrow. On an individual level, this will be determined by how creditworthy you are and how much you can afford to spend each month. At the industry level, lenders are limited by how much they can lend to borrowers if they want their loans to conform to the standards set forth by the Federal Housing Finance Agency (FHFA). Conventional loans that meet these standards are called conforming loans.
The FHFA announced on November 30th, 2022, that the conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac will increase to $726,200 in 2023. These loans are typically called Conventional Loans. This is an increase of $79,000 from $647,200 in 2022. The new loan limit of $726,200 is in effect for all counties in Colorado, except those in a High Balance area. If a loan is above a Conventional or High Balance limit it would be considered a Jumbo loan with more stringent qualification requirements.
Conforming Loan Limits In High-Cost Areas
Home prices vary quite a bit from state to state, and even from county to county. This makes having a single conforming loan limit for the entire country difficult – after all, it’s hard to compare home prices in rural Ohio to home prices in urban Denver.
This is why the FHFA has a higher limit for areas it deems to be “high-cost,” a designation based on an area’s median home values compared to the baseline conforming loan limit.
The exact conforming loan limit varies depending on the median home value in a given area, up to 150% of the baseline conforming loan limit. To see what the current limit is in your county, use Montis Lending Group’s table below.
| COUNTY NAME | ONE-UNIT | TWO-UNIT | THREE-UNIT | FOUR-UNIT |
| ADAMS | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| ALAMOSA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| ARAPAHOE | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| ARCHULETA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| BACA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| BENT | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| BOULDER | $ 856,750 | $ 1,096,800 | $ 1,325,800 | $ 1,647,650 |
| BROOMFIELD | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| CHAFFEE | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| CHEYENNE | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| CLEAR CREEK | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| CONEJOS | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| COSTILLA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| CROWLEY | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| CUSTER | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| DELTA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| DENVER | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| DOLORES | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| DOUGLAS | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| EAGLE | $ 1,075,250 | $ 1,376,550 | $ 1,663,900 | $ 2,067,850 |
| ELBERT | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| EL PASO | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| FREMONT | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| GARFIELD | $ 948,750 | $ 1,214,600 | $ 1,468,150 | $ 1,824,550 |
| GILPIN | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| GRAND | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| GUNNISON | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| HINSDALE | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| HUERFANO | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| JACKSON | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| JEFFERSON | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| KIOWA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| KIT CARSON | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| LAKE | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| LA PLATA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| LARIMER | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| LAS ANIMAS | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| LINCOLN | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| LOGAN | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| MESA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| MINERAL | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| MOFFAT | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| MONTEZUMA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| MONTROSE | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| MORGAN | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| OTERO | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| OURAY | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| PARK | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| PHILLIPS | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| PITKIN | $ 948,750 | $ 1,214,600 | $ 1,468,150 | $ 1,824,550 |
| PROWERS | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| PUEBLO | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| RIO BLANCO | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| RIO GRANDE | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| ROUTT | $ 845,250 | $ 1,082,100 | $ 1,308,000 | $ 1,625,500 |
| SAGUACHE | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| SAN JUAN | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| SAN MIGUEL | $ 862,500 | $ 1,104,150 | $ 1,334,700 | $ 1,658,700 |
| SEDGWICK | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| SUMMIT | $ 953,350 | $ 1,220,450 | $ 1,475,250 | $ 1,833,400 |
| TELLER | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| WASHINGTON | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| WELD | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
| YUMA | $ 726,200 | $ 929,850 | $ 1,123,900 | $ 1,396,800 |
An Example of High-Cost Area Limits
To see what this might look like in practice, let’s say you’re considering buying an $800,000 home in Colorado.
If you were to buy that house in Alamosa County, which isn’t currently listed as an FHFA high-cost area, you’d likely need to take out a jumbo loan, since you’d be exceeding the $726,200 baseline loan limit.
However, Eagle County is traditionally one of the more expensive areas to purchase a home in Colorado. Eagle is near the top end of the scale ($1,075,250 for a single-unit home). You would be able to buy the house without a jumbo loan.
What to Consider Before you Borrow more than the Conforming Loan Limit
If you’re considering purchasing a home outside of the conforming loan limits, be sure you understand whether you can afford a non-conforming loan and what this type of loan would mean for your finances. The larger the loan is, the higher your monthly payment will be. This is especially important to consider in high-cost areas. Even with higher loan limits, much of the local inventory could still exceed the high-cost loan ceiling.
In Eagle County, for example, the maximum conforming loan limit is $1,075,250, but the median list price is $1,550,000 as of this writing (April 2023). High prices like this can make it difficult to purchase a home without having to get a jumbo loan.
What would a jumbo loan mean for your finances? The upfront cost can be restrictive for many borrowers. While conforming loans allow down payments as low as 3%, most jumbo loans require a minimum down payment of 20%. You’ll also need to have a credit score in the 700s and a DTI of 45% or lower to qualify. If you’re able to meet these requirements, a jumbo loan may be beneficial for you.
The Bottom Line: Remember Loan Limits if You’re Purchasing a High-Cost Home
If you plan on purchasing your home with a mortgage and have a sizeable home-buying budget, it’s important to understand what the maximum loan limits are in your county. While other loan types, such as jumbo loans, can remove the barrier of having to stay within a certain price limit, that means forgoing the benefits of getting a conforming loan.
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2023 Colorado FHA Loan Limits
Additionally, the Department of Housing and Urban Development or HUD has increased the FHA Loan limit in most counties in Colorado to $427,030. This is an increase of $6,350 from $420,680 in 2022.
If you want to see the FHA loan limits for each county in Colorado, check out the table below.
| COUNTY NAME | ONE-UNIT | TWO-UNIT | THREE-UNIT | FOUR-UNIT |
| ADAMS | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| ALAMOSA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| ARAPAHOE | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| ARCHULETA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| BACA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| BENT | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| BOULDER | $ 856,750 | $ 1,096,800 | $ 1,325,800 | $ 1,647,650 |
| BROOMFIELD | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| CHAFFEE | $ 600,300 | $ 768,500 | $ 928,950 | $ 1,154,450 |
| CHEYENNE | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| CLEAR CREEK | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| CONEJOS | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| COSTILLA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| CROWLEY | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| CUSTER | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| DELTA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| DENVER | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| DOLORES | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| DOUGLAS | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| EAGLE | $ 1,075,250 | $ 1,376,550 | $ 1,663,900 | $ 2,067,850 |
| EL PASO | $ 517,500 | $ 662,500 | $ 800,800 | $ 995,200 |
| ELBERT | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| FREMONT | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| GARFIELD | $ 1,089,300 | $ 1,394,775 | $ 1,685,850 | $ 2,095,200 |
| GILPIN | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| GRAND | $ 669,300 | $ 856,800 | $ 1,035,700 | $ 1,287,150 |
| GUNNISON | $ 519,800 | $ 665,450 | $ 804,350 | $ 999,600 |
| HINSDALE | $ 427,800 | $ 547,650 | $ 662,000 | $ 822,700 |
| HUERFANO | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| JACKSON | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| JEFFERSON | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| KIOWA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| KIT CARSON | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| LA PLATA | $ 596,850 | $ 764,050 | $ 923,600 | $ 1,147,800 |
| LAKE | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| LARIMER | $ 614,100 | $ 786,150 | $ 950,300 | $ 1,181,000 |
| LAS ANIMAS | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| LINCOLN | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| LOGAN | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| MESA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| MINERAL | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| MOFFAT | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| MONTEZUMA | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| MONTROSE | $ 425,500 | $ 544,700 | $ 658,450 | $ 818,250 |
| MORGAN | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| OTERO | $ 472,030 | $ 604,400 | $ 730,525 | $ 907,900 |
| OURAY | $ 425,500 | $ 544,700 | $ 658,450 | $ 818,250 |
| PARK | $ 787,750 | $ 1,008,450 | $ 1,219,000 | $ 1,514,950 |
| PHILLIPS | $ 425,500 | $ 544,700 | $ 658,450 | $ 818,250 |
| PITKIN | $ 1,089,300 | $ 1,394,775 | $ 1,685,850 | $ 2,095,200 |
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