There are 379 homes for sale in Colorado right now with mortgage rates below 3%. Not 3.5%. Not 4%. Below 3%. In a market where you'd pay 6.8% to get a new loan today.
That's not a typo and it's not some technicality. Those are real loans, attached to real homes, that a real buyer can take over. And that's just the sub-3% ones. When you zoom out to all assumable listings in the state, the number is 1,171 homes carrying $449 million in low-rate debt.
I pulled every assumable listing in Colorado, ran the numbers on all of them, and this is what I found.
The Quick Version
If you want the summary before the deep dive:
- 1,171 assumable mortgage listings active in Colorado right now
- 379 of them (32%) have rates below 3%, averaging $1,149/month in savings vs. a new loan
- Average savings across all listings: $920/month ($11,040/year, $330,000+ over 30 years)
- $449,108,683 in total assumable debt sitting in the market
- Colorado Springs has 340 listings (29% of the entire state) mostly because of Fort Carson
- 55% are VA loans, 45% FHA. Military families locked these in during 2020-2021.
- Median equity gap is $142,606 (the cash you'd need on top of assuming the loan)
The Big Picture
1,171 listings. Two loan types. Zero conventional.
Every assumable mortgage in this dataset is either VA or FHA. That's not a coincidence. Conventional loans (Fannie/Freddie) are not assumable. VA and FHA loans are, by law.
The split: 649 VA loans (55.4%) and 522 FHA loans (44.6%).
This matters for buyers because VA and FHA assumptions have different rules. VA-to-VA assumptions are the smoothest (no entitlement issues if you have your own VA eligibility). FHA assumptions are open to anyone, VA or civilian, but require lender approval and typically take 45-90 days to close.
Where the homes are
The top 15 cities by listing count:
| City | Listings | Share | |------|----------|-------| | Colorado Springs | 340 | 29.0% | | Denver | 111 | 9.5% | | Aurora | 105 | 9.0% | | Peyton | 46 | 3.9% | | Pueblo | 44 | 3.8% | | Commerce City | 42 | 3.6% | | Parker | 37 | 3.2% | | Castle Rock | 36 | 3.1% | | Littleton | 32 | 2.7% | | Brighton | 31 | 2.6% | | Thornton | 31 | 2.6% | | Fountain | 31 | 2.6% | | Greeley | 28 | 2.4% | | Arvada | 25 | 2.1% | | Lakewood | 22 | 1.9% |
Colorado Springs alone has almost a third of all assumable listings in the state. The reason is Fort Carson. Military families bought heavily during 2020-2021 with VA loans, and now some are PCSing (moving to new duty stations). When they go, their assumable loan goes with the house.
The Rates
What's actually out there
Mean rate: 3.65%. Median rate: 3.31%. That median is doing a lot of work here. Half of all assumable listings in Colorado have rates at or below 3.31%.
Current market rate on a new 30-year: ~6.8%.
That gap is roughly 3.5 percentage points. On a $400,000 loan, 3.5 points is about $850/month. Every month. Forever.
The full rate distribution:
| Rate Range | Listings | % of Total | |------------|----------|------------| | Below 2.5% | 23 | 2.0% | | 2.5% - 2.99% | 356 | 30.4% | | 3.0% - 3.49% | 272 | 23.2% | | 3.5% - 3.99% | 187 | 16.0% | | 4.0% - 4.99% | 166 | 14.2% | | 5.0%+ | 167 | 14.3% |
So 55.6% of all listings (651 homes) are under 3.5%. That is an extraordinary concentration of cheap debt.
The sub-3% story
379 homes. 32% of all listings. Average rate in this bucket is somewhere in the 2.5-2.99% range, and the average listing price is $572,238. Average savings vs. a new loan at 6.8%: $1,149/month.
Run that out: $1,149/month is $13,788/year. Over 30 years, that's $413,640 in savings. That's not investment return speculation. That's just the difference in interest payments, dollars that stay in your pocket.
There are even 23 listings at below 2.5%. The lowest rate in the dataset: 1.00%. I'm not going to pretend I know the full story on that one, but it's a real listing with a real assumable loan.
The Savings
What $920/month actually means
The average assumable listing saves a buyer $920/month compared to buying the same house with a new loan at today's 6.8% rate. Median savings: $879/month.
This is calculated simply: take the assumable loan balance, run the payment at the assumable rate, run the same balance at 6.8%, take the difference. No tricks.
$920/month is:
- $11,040/year
- $55,200 over 5 years
- $331,200 over 30 years
That last number is what people don't think about. Assuming a mortgage isn't just a monthly budget win. It's a 30-year financial decision worth hundreds of thousands of dollars.
The best deals in Colorado right now
These are the 10 listings with the highest monthly savings vs. buying at 6.8%:
| Address | Price | Rate | Type | Monthly Savings | |---------|-------|------|------|-----------------| | 2070 Alamosa, Colorado Springs | $1,995,000 | 2.83% | VA | $3,247/mo | | 4880 Crescent Moon, Parker | $1,400,000 | 2.83% | VA | $2,867/mo | | 19795 Sleepy Hollow, Monument | $1,299,900 | 2.85% | VA | $2,822/mo | | 27560 Lakeview, Aurora | $1,100,000 | 2.76% | VA | $2,772/mo | | 482 Spruce, Louisville | $2,600,000 | 3.51% | VA | $2,686/mo | | 16540 Mesquite, Peyton | $1,169,000 | 2.88% | VA | $2,683/mo | | 2256 Wolfensberger, Castle Rock | $2,450,000 | 3.93% | VA | $2,679/mo | | 9364 Shipman, Colorado Springs | $1,242,000 | 2.77% | VA | $2,644/mo | | 3066 27th, Denver | $1,120,000 | 3.51% | VA | $2,643/mo | | 4252 Horse Gulch, Colorado Springs | $1,280,000 | 3.51% | VA | $2,607/mo |
All VA loans. All over $1M. The savings are massive because the loan balances are massive.
But here's the thing about this top-10 list: it's skewed toward high-end homes because bigger loans mean bigger dollar savings. The percentage savings at a $400K assumable listing at 3% vs. 6.8% is actually just as impressive. You're saving $850-$950/month on a more attainable house. The math works at every price point.
The total market number
If every one of these 1,171 homes sold via assumption (instead of the buyer getting a new loan), the total annual savings to buyers across Colorado would be $12,867,000. That's $12.8 million in interest payments that wouldn't exist.
That's the scale of what's sitting in the market right now, unclaimed by most buyers who don't even know this is possible.
Where the Deals Are
Price distribution
Homes range from $115,000 to $4,499,000. Mean price: $527,318. Median: $469,000.
The breakdown by price range:
| Price Range | Listings | % of Total | |-------------|----------|------------| | Under $300K | 117 | 10.0% | | $300K - $400K | 252 | 21.5% | | $400K - $500K | 302 | 25.8% | | $500K - $600K | 214 | 18.3% | | $600K - $750K | 153 | 13.1% | | $750K+ | 133 | 11.4% |
A lot of people think assumable mortgages are only for expensive homes. Not true. 117 listings are under $300K. 252 more are in the $300-400K range. That's 369 homes (31.5% of all listings) that are attainable for first-time buyers and investors.
The sweet spot is $400-500K. 302 listings, 25.8% of inventory, right in the range where the savings vs. a new loan are meaningful and the equity gap is often manageable.
Why Colorado Springs dominates
340 listings in Colorado Springs. That's more than Denver, Aurora, and the next five cities combined.
Fort Carson is the reason. It's one of the largest Army installations in the country, with thousands of active-duty families. Military families qualifying for VA loans bought heavily in 2020 and 2021 at historic low rates. Now, as those soldiers PCS (permanent change of station orders), they're leaving Colorado. Their houses go on the market. Their VA loans go with them.
Fort Carson isn't the only military influence here. Peterson Space Force Base and Schriever Space Force Base are also in the Springs. The military community in El Paso County is enormous, and that community created this concentration of assumable VA loans.
Peyton (46 listings) and Fountain (31 listings) round out the military corridor south and east of the Springs. These are smaller communities where military families bought affordable homes in 2020-2021. Lots of opportunity in this pocket.
The Equity Gap Reality
Let's be honest about the hard part.
When you assume a mortgage, you're taking over the existing loan balance. But the house is worth more than that loan balance now, because the seller has built equity. You have to pay the seller for that equity in cash (or through a second loan).
The average equity gap across these 1,171 listings: $196,410. The median: $142,606.
On a $469,000 median-priced home with a $367,830 remaining loan balance, you'd need about $101,170 to bridge the gap (that's simplified. Actual gap depends on sale price negotiation, not just appraised value).
That $142,606 median gap is real money. But here's how people are solving it:
Second mortgage. Some lenders (including USAA, Navy Federal, and a handful of others) will do a second lien behind an assumed first. You assume the low-rate first, get a second at current rates for the gap. Your blended rate ends up well below 6.8%.
HELOC. If you have equity elsewhere, a HELOC on another property can bridge the gap.
Cash. If you're a move-up buyer with equity from your previous home, the gap becomes the down payment question.
Seller negotiation. Sellers with small equity gaps sometimes take less to make the assumption work. A seller sitting on $80K of equity might accept $65K if it means a faster, more certain close.
The gap isn't a dealbreaker. It's a planning item. The best assumable deals have a gap you can solve with a second mortgage or cash, leaving you with a blended rate still significantly below market.
The minimum equity gap in this dataset: $2,046. The maximum: $4,271,746 (that's one of the multi-million dollar homes). Most deals are in between.
Who's Selling
The 2020-2021 cohort is the market
Loan origination years:
| Year | Loans | % | |------|-------|---| | 2018 | 17 | 1.5% | | 2019 | 56 | 4.8% | | 2020 | 190 | 16.2% | | 2021 | 368 | 31.4% | | 2022 | 339 | 28.9% | | 2023 | 10 | 0.9% | | 2024+ | 13 | 1.1% |
76.5% of all assumable listings originated in 2020-2022. That's the pandemic rate era. The Fed dropped rates to near zero, mortgage rates hit all-time lows, and millions of people locked in 2.5-3.5% rates.
2021 alone accounts for 31.4% of everything. That was the year rates were at their absolute floor and purchase volume was maxing out. Those buyers are now 4-5 years into their loans. Some are moving up, some are moving out of state, some are PCSing, some have life changes. The reasons don't matter. The result is 1,171 homes for sale with the rates they locked in.
The 2023-2024 cohort is tiny (1.9% combined) because rates had already jumped above 6% by then. New VA and FHA loans originated at 6-7% aren't worth assuming when you can just get a new loan at the same rate. The assumable market is almost entirely the 2020-2022 vintage.
The average property in this dataset is 3.5 bedrooms, 2,127 square feet. This is the Colorado suburbs. Not starter homes, not mansions. Family homes bought at the best rate environment in a generation by people who are now selling.
What This Means for Buyers
The practical stuff
1. Most buyers and most agents don't know this is an option. I run into this constantly. Buyers are pre-approved for new loans, they're shopping at what they can afford at 6.8%, and they're not asking about the loan on the homes they're looking at. This is a sourcing advantage for anyone who knows to look.
2. The search process is different. You can't just filter Zillow for "assumable." You need to identify VA and FHA listings, then check the loan details. That's what this site does. The listings here are already filtered.
3. Closing takes longer. Plan for 45-90 days on an FHA assumption, sometimes longer on VA. Sellers need to know this upfront. The right seller is fine with it. The wrong seller isn't, and you don't want that deal anyway.
4. You'll compete less. Buyers who understand assumption aren't fighting over the same pool as buyers chasing new-construction and move-in-ready conventional homes. The assumable buyer pool is smaller, more patient, and often more serious.
5. The sub-3% listings are the real prize. 379 homes averaging $1,149/month in savings. On a $572,238 average price with a manageable equity gap, this is the segment worth prioritizing. $1,149/month is more than most people's car payment, student loan payment, or health insurance premium. Stacking that savings permanently changes what a household can do financially.
6. The equity gap is solvable, not impossible. Median gap of $142,606 sounds scary. But with a second mortgage, you're looking at a blended interest rate that's still well below 6.8%. Do the math for your specific situation before walking away from a great assumable rate because the gap looks big.
The honest take
Not every assumable listing is a great deal. The ones in the 5%+ rate bucket (167 listings, 14.3% of inventory) are barely worth the hassle if current rates are at 6.8%. You're assuming a loan at 5.5%, dealing with a 45-90 day close, managing lender approvals, and saving maybe $200/month. The juice might not be worth the squeeze.
But the sub-3.5% bucket (651 listings, 55.6% of inventory)? That's where the math gets compelling. And the sub-3% bucket (379 listings) is genuinely one of the best financial opportunities available to Colorado homebuyers right now.
Browse the Listings
Every assumable listing on this site is already filtered, sorted by savings, and cross-referenced against the loan data. You can see the rate, the estimated monthly savings, and the equity gap for each property before you ever talk to an agent.
Browse Colorado assumable listings on assumableguy.com
If you want help running the numbers on a specific property or understanding how assumption works in practice, reach out directly. This is what I do.
Data current as of March 2026. Savings calculations compare assumable loan balance at the existing rate vs. same balance at 6.8% (approximate 30-year fixed market rate). Actual savings vary based on negotiated price, equity gap financing structure, and closing costs. This is not financial advice.