First-Time Buyers
Buying your first home is exciting and a little overwhelming. I have guided hundreds of first-time buyers through the process in Boulder and surrounding communities. Here is everything you need to know to get started with confidence.
Before you start looking at homes, get pre-approved with a local lender. This tells you exactly what you can afford and signals to sellers that you are a serious buyer.
Boulder has distinct neighborhoods with different price points, school districts, and lifestyles. Together, we will find the one that fits your needs and budget.
With the right agent and preparation, you can make a strong, competitive offer that protects your interests. I handle the negotiation so you can focus on the excitement.
Understanding your budget is the first step. Here is a general framework for first-time buyers in the Boulder area.
Entry Level
$350K - $500K
Condos, townhomes, and starter homes in surrounding communities.
Mid-Range
$500K - $750K
Single-family homes in Boulder and nearby neighborhoods.
Move-Up
$750K - $1.2M
Larger homes in prime Boulder locations with premium features.
Current Mortgage Rates
Mortgage rates directly affect how much home you can afford. Here are the current rates and what they mean for your first purchase.
30-Year Fixed
7.28%
Freddie Mac PMMS
15-Year Fixed
6.60%
Freddie Mac PMMS
FHA 30-Year
7.24%
As low as 3.5% down
VA 30-Year
7.24%
Zero down payment
5/1 ARM
6.42%
Bankrate national APR
Rates as of October 6, 2026. Source: Freddie Mac PMMS (released October 1, 2026), Bankrate
Mortgage rates are trending up, and the latest survey marked a sixth straight weekly increase. Freddie Mac's Primary Mortgage Market Survey (released October 1, 2026) put the 30-year fixed rate at 7.28%, up 25 basis points from 7.03% the prior week and its highest level since early 2025, and the 15-year fixed rate at 6.60%, up from 6.42%. Bankrate's national survey shows the 5/1 ARM at 6.42%, FHA 30-year at 7.24%, and VA 30-year at 7.24%, all rates that vary by lender and credit profile. For first-time buyers, the message is clear: rates are at their highest in years, so the sooner you are pre-approved and ready to move, the better. Every month of delay means paying rent longer while the 30-year rate climbs.
On a $400,000 loan, a 0.25% rate increase adds about $68 per month, or roughly $24,500 over 30 years. Every basis point counts.
FHA loans allow down payments as low as 3.5% and accept credit scores as low as 580. The current FHA 30-year APR of approximately 7.24% (Bankrate, October 6, 2026) sits close to the conventional 30-year range, making this a strong option for buyers with limited savings for a down payment.
VA loans offer zero down payment and no private mortgage insurance (PMI). At roughly 7.24% APR (Bankrate, October 6, 2026), VA rates run essentially in line with the 30-year conventional fixed rate, and financing 100% still keeps the monthly payment competitive, making this a strong option for eligible veterans and active-duty service members.
Colorado Housing and Finance Authority (CHFA) programs also offer down payment assistance and competitive rates for qualified first-time buyers.
Rates have pushed above 7% and sit at their highest level since January 2025, so locking sooner matters more this month. If you are under contract or close to making an offer, lock your rate as soon as possible. Most lenders offer free 30- to 60-day rate locks. If you are still a few months from buying, consider these strategies:
Mortgage Calculator
Estimate your monthly payment based on current rates, your down payment, and the loan term that fits your budget. Experiment with different scenarios to find what works for you.
Try our interactive mortgage calculator to see how different down payments, interest rates, and loan terms affect your monthly budget.
Open Mortgage CalculatorPowered by Colorado Legacy & iHomefinder
Conventional loans can require as little as 3-5% down. FHA loans allow 3.5% down. VA and USDA loans may require zero down. I connect you with lenders who can explain all your options.
In Colorado, closing costs typically range from 2-5% of the purchase price. These include title insurance, recording fees, and loan charges. I provide detailed estimates early in the process.
From offer acceptance to closing, the process typically takes 30-45 days. Getting pre-approved and having your documents ready can speed things up.
While not required, a home inspection is strongly recommended. It helps you understand the property's condition before you commit. My renovation background helps you interpret the findings.
I love working with first-time buyers. Let's talk about your goals and create a plan to get you into your first home.
Schedule a First-Time Buyer Consultation