Colorado mortgage lending data
West region · HMDA 2023 reporting year
In Colorado, the 2023 mortgage denial rate was 16.8% — below the national denial rate (-2.8 points vs the 19.6% national rate), ranking it #35 of 51. Lenders originated about 102,034 home-purchase and refinance loans (rank #16). The home-purchase denial rate was 11.5% and refinance 31.8%. By loan type, conventional loans were 80.6%, FHA 11.4%, VA 7.9% and USDA/RHS 0.1%. Informational data, not lending advice.
Source: HMDA Data Browser (FFIEC / CFPB). Data as of June 2026.
Colorado mortgage lending at a glance
| Indicator | Colorado |
|---|---|
| Total originations (purchase + refinance, 2023) | 102,034 |
| Denied applications | 20,530 |
| Mortgage denial rate | 16.8% |
| Denial-rate rank (1 = highest of 51) | #35 |
| Home-purchase denial rate | 11.5% |
| Refinance denial rate | 31.8% |
| Volume rank (1 = most loans of 51) | #16 |
Source: HMDA Data Browser (FFIEC / CFPB) (2023 reporting year). Data as of June 2026.
Source: HMDA Data Browser (2023), public domain. Denial rate = denied ÷ (originated + denied). Informational only — verify before relying on it.
What the denial rate means
Colorado's mortgage denial rate of 16.8% means that for every 100 applications that were either approved-and-originated or denied, about 17 were turned down. That is lower compared with the national figure of 19.6%. Denial rates are driven by applicant credit scores, debt-to-income ratios, the loan type and local home prices — not only by how strict lenders are. Refinance applications are often denied at a different rate than purchase loans: in Colorado the purchase denial rate was 11.5% versus 31.8% for refinances.
Colorado loan-type mix
How Colorado's 102,034 originations break down by loan program. A higher FHA or VA share usually points to more first-time buyers, lower down payments, or a large veteran population.
| Loan type | Originations | Share |
|---|---|---|
| Conventional | 109,077 | 80.6% |
| FHA | 15,464 | 11.4% |
| VA | 10,722 | 7.9% |
| USDA / RHS | 147 | 0.1% |
Source: HMDA Data Browser (FFIEC / CFPB) (2023). Data as of June 2026.
See FHA vs VA vs conventional for what each program is. Shares are over loans with a reported type and may not sum to exactly 100% due to rounding.
States with a similar denial rate to Colorado
| State | Denial rate | Originations | FHA share | VA share |
|---|---|---|---|---|
| Colorado (this state) | 16.8% | 102,034 | 11.4% | 7.9% |
| Vermont | 16.7% | 7,788 | 5.2% | 3.5% |
| Montana | 16.6% | 14,125 | 10.6% | 9.0% |
| Connecticut | 17.1% | 47,680 | 10.2% | 2.6% |
| Idaho | 16.5% | 33,653 | 11.7% | 6.4% |
| Illinois | 16.5% | 158,841 | 12.3% | 4.0% |
Frequently asked questions
What was the mortgage denial rate in Colorado in 2023?
In 2023, the mortgage denial rate in Colorado was about 16.8% — that is, 20,530 applications were denied out of 122,564 that were either originated or denied. That is -2.8 points versus the national rate of 19.6%, and ranks Colorado #35 of 51 from highest to lowest. Figures are from HMDA; verify before relying on them.
How many mortgages were originated in Colorado?
Lenders originated about 102,034 home-purchase and refinance loans in Colorado in 2023 (HMDA reporting year), ranking it #16 of 51 by volume. Of those, the home-purchase denial rate was 11.5% and the refinance denial rate was 31.8%.
What share of Colorado mortgages are FHA or VA loans?
In Colorado, FHA loans made up about 11.4% of originations and VA loans about 7.9%, with conventional loans the largest share at 80.6% and USDA/RHS loans 0.1%. Higher government-backed shares often reflect more first-time and lower-down-payment buyers.
Is it harder to get a mortgage in Colorado than elsewhere?
Colorado's denial rate of 16.8% is below the national denial rate. Denial rates reflect applicant credit, income and debt, loan type and local home prices as much as lender behavior, so a higher rate does not by itself mean stricter lenders. States with the most similar denial rates to Colorado are Vermont, Montana, Connecticut.
Keep exploring
Sources & accuracy
All counts are from the HMDA Data Browser (FFIEC / CFPB, 2023 reporting year, public domain). Denial rate, loan-type shares and ranks are transparent calculations over those counts (see methodology). This page is informational and is not financial or lending advice — verify with a licensed lender before making a decision.
Last updated: 2026-06-20