The five lines in a monthly cost
A home costs you five things each month, and the mortgage is only the first one.
| Line | What it is | Who gives you the number |
|---|---|---|
| Mortgage | Your loan payment. The price, your down payment, the rate and the term set it. | Your lender. |
| Property tax | A yearly county tax based on the value of your home. Many lenders collect it with your mortgage payment. | Your lender's estimate, or the county assessor's office. |
| Metro district | Many new Front Range communities sit in a district that paid for the roads, water lines and parks. Its charge is extra mills inside the property tax bill, and it differs by community. | Ask us which district serves the home, then check its levy with the county assessor. |
| Home insurance | Covers repair or rebuilding after damage. In the foothills, wildfire exposure can affect the premium. | An insurance agent, with a quote for the exact address. |
| HOA dues | Paid to the community association for shared amenities, landscaping and upkeep. Attached homes usually carry higher dues than detached homes. | The association, or ask us for the current figure. |
Two homes at the same price can have different monthly costs because of the last four lines. The metro district alone can separate two communities a few miles apart. Compare the whole picture, not the price alone.
What you pay at closing
Closing day brings two separate amounts. The first is your down payment. The second is closing costs, which cover lender fees, title and recording, and the first payments into your tax and insurance account.
Your lender gives you a written estimate early in the process, and a final statement before closing. Read both line by line, and ask about anything you do not recognize.
Who pays which cost is set by the contract, and a builder contract can differ from a resale sale. Ask us how our purchase agreement handles it. [to confirm: which closing costs a Cardel Colorado purchase agreement assigns to the buyer]
Some communities also have a one-time fee at closing, such as a contribution to the association's reserves. Ask about it for the specific community. [to confirm: one-time association or district fees at closing, by community]
Two things that work differently on a new home
- Your first property tax bill may be lower than later ones. Colorado values property by its condition on January 1. A home finished later in the year may be taxed as land the first time. Budget on a full-year figure, and ask your lender or the county assessor how this applies to you.
- The metro district is disclosed up front. If a new home sits in a district, Colorado requires the details to come with your contract, including an estimate of the property tax. Read it before you sign, and ask us to walk you through it.
When to talk to a lender
Before you tour, not after. A pre-approval is a lender's written view of what you can borrow. It turns a wish list into a budget, and it tells you which homes to look at.
When you talk to a lender, ask for an estimate that includes all five lines above, not just the mortgage. Ask what programs for first-time buyers are open right now. They exist at the metro and state level, some depend on the address, and they change often, so your lender is the right source.
If a financing incentive is offered on a home, ask your lender to show you the payment with it and without it, and for how long it lasts. [to confirm: whether Cardel Colorado offers financing incentives, and how the region describes them]
The full list of questions to ask a lender is on the questions page.
Questions first-time buyers ask
How much do I need for a down payment?
It depends on the loan. Some loan types allow a small percentage of the price, and others ask for more. Your lender will tell you what each option means for your monthly payment. The down payment is separate from closing costs, so plan for both.
Can you tell me what my monthly payment would be?
We can give you the price, the metro district and the current HOA dues for any home. Your lender turns those into a monthly payment, because the rate and the loan type are theirs to set. Ask them for an estimate that includes every line on this page.
Is the metro district a separate bill?
No. It is extra mills inside your county property tax bill, which is why it is easy to miss. An HOA is the opposite: a private association that bills you directly. Many new Denver-area communities have both.
Is there a payment calculator?
Not on this page, on purpose. A reliable estimate needs inputs that only a lender can confirm, such as your rate, your loan type and your insurance quote. A lender's written estimate is the version to trust.
Get real numbers for a real home
Pick a community and a home type, then ask a lender for an estimate that includes every line above. We will give you the district and HOA figures to pass along.
Internal review notes — what must be confirmed before this page publishes
- [to confirm] Which closing costs a Cardel Colorado purchase agreement assigns to the buyer.
- [to confirm] One-time association or district fees payable at closing, by community.
- [to confirm] Whether Cardel Colorado offers financing incentives, and how the region wants them described.
- Legal review: this page replaces the former all-in-monthly calculator and the metro-district, down-payment-help and financing pages. It names cost categories only, with no levies, assessment rates, program names or worked examples. Confirm it stays at that level.
- The metro district disclosure sentence states only that Colorado requires the details with the contract. No statute, document list or penalty is cited.
- When the NEWS articles on metro districts and on financing incentives are published, link them from the table on this page.