As you prepare to become a homeowner, you need to make sure you’re ready for the expenses beyond your mortgage payment. With a fixed-rate mortgage, your principal and interest amounts will remain the same throughout the life of your loan, but taxes and your homeowners insurance costs may fluctuate annually, so it’s good to plan for increases as you are budgeting for homeownership.

Homeowners insurance costs have been going up in Colorado. The average homeowners insurance premium in the state is now $4,142 a year according to the National Bureau of Economic Research. That is a 137 percent increase over the past decade. Environmental factors like the increased frequency and severity of natural disasters like hail and wildfires are part of the reason behind the increase in Colorado.

When you consider your homeowners insurance, there are things you can do upfront that may lower your cost. First, shop around with different insurers to compare rates. Some insurers will offer you a discount if you have your car insurance and homeowners insurance with the same company. This is known as bundling. The Insurance Information Institute recommends comparing quotes both as a bundle and separately to make sure you’re actually saving by bundling. The National Association of Insurance Commissioners offers a guide that can help as you’re looking for homeowners insurance.

The Colorado Division of Insurance (DOI) regulates insurance in the state, reviewing insurance company plans and premiums. The DOI also investigates consumers’ complaints through its Consumer Portal, and its Consumer Services Team can answer insurance questions.

Taking a CHFA-sponsored homebuyer education class is a good way to get more information about homeowners insurance and learn about other things it takes to succeed as a homeowner. Register for homebuyer education class today!

CHFA recently donated $175,000 to 36 organizations working to address hunger and food insecurity in Colorado. Data published by Hunger Free Colorado states that more than 1 in 10 Coloradans lack reliable access to nutritious food, and that 17 percent of Colorado households with children struggle to afford enough food. Current economic challenges have exacerbated demand, placing added financial strain on food banks and pantries.

One organization that received a CHFA donation is Food Bank of the Rockies, whose service area covers 150,000 square miles in coordination with more than 700 Hunger Relief Partners across Colorado and Wyoming. This represents the largest food bank distribution area in the contiguous United States.

CHFA’s $30,000 donation to Food Bank of the Rockies was bolstered by the annual Like It Forward social media fundraising campaign. From December 1, 2025, through December 15, 2025, CHFA shared a series of social media posts that included information about Food Bank of the Rockies, and stories of the impact it has made on communities across Colorado. For each like and share these posts received during the campaign, CHFA donated $5 to Food Bank of the Rockies. The likes and shares resulted in a total donation of $17,210, to which CHFA added $12,790 to bring the total to $30,000.

See the full list of organizations that received donations on CHFA’s website.

Colorado Housing and Finance Authority

www.chfainfo.com