Mile High Home Group – Welcome to Denver

Buying a home in Colorado requires upfront cash for a down payment (3-20% of price), closing costs (2-5%), and reserves—on a $600,000 median like Denver-area spots, expect $25,000-$150,000 total to close, varying by loan, credit, and location in the Colorado housing market.

Down Payment and Loan Basics

After 15+ years in Denver real estate and thousands of transactions, I’ve crunched numbers for clients statewide. First-timers qualify for 3% conventional or 3.5% FHA (credit 580+), so $18,000-$21,000 on $600K—VA/USDA offer 0% for vets/rural buys. Aim 5-10% ($30,000-$60,000) to skip PMI and build equity; Highlands Ranch $700K ranches need $21,000 minimum (3%). CHFA programs grant up to $25,000 for incomes under $150K, stacking with loans. Littleton $650K bungalows fit similar math.

20% ($120,000) avoids insurance but stretches budgets.

Closing Costs and Ongoing Reserves

Add $12,000-$30,000 closing—appraisals ($500), title ($1,500), lender fees—sellers often cover 3%. Lenders demand 2-6 months’ reserves ($7,000-$20,000 at 6.5% rates, ~$3,500/month PITI). Property taxes run 0.5-0.8% ($3,000-$4,800 yearly), HOAs $150-$400 in Highlands Ranch real estate. Total cash to close: $40,000-$100,000 realistic for medians, less with grants.

Denver real estate spikes higher ($30K+ down on $700K+).

Practical Steps for Buyers and Sellers

Area	Median Price	5% Down Example	Monthly PITI Est.
Denver	$600K	$30K	$3,500
Littleton	$650K	$32.5K	$3,700
Highlands Ranch	$700K	$35K	$4,000

Buyers, pre-approve now—save 5%+, apply CHFA/MetroDPA (income caps), boost credit over 680 for rates under 6.5%. Test budgets with calculators; negotiate seller credits.

Sellers, offer 3% concessions—highlight low-tax schools in comps for qualified buyers.

My hands-on, concierge-level service runs your exact scenario block-by-block, weighs school/HOA fits through market cycles, crafts pricing from local sales, and negotiates relentlessly for affordable entries. Clients are long-term relationships and friends, not transactions—integrity, honesty, transparency, and relentless work ethic demystify the dollars.

If figuring Colorado homebuying costs—or Denver, Littleton, Highlands Ranch real estate specifics—reach out anytime. I’m here for a no-pressure conversation and honest guidance tailored to the Colorado housing market.