Down Payment Path

Down Payment Assistance Programs in Colorado

Colorado offers a variety of down payment assistance programs to help make homeownership more accessible. These programs provide financial support for eligible buyers, reducing upfront costs and making it easier to secure a home.

Statewide Down Payment Assistance

Colorado homebuyers can access state-backed programs that provide financial assistance for down payments and closing costs.

  • Grants and low-interest loans are available to assist with upfront costs.
  • Some programs offer forgivable assistance, requiring no repayment.
  • Options exist for FHA, VA, USDA, and conventional loans.
  • Eligibility is based on factors such as income, credit score, and home location.

Down Payment Assistance Loan Programs

Homebuyers may qualify for second mortgage loans to cover down payment and closing costs.

  • Loan amounts vary, often up to 4-5% of the first mortgage amount.
  • Some loans are deferred, meaning no payments are required until the home is sold or refinanced.
  • Income and purchase price limits may apply.

metroDPA Program

The metroDPA Program provides down payment assistance for buyers in Denver and surrounding areas.

  • Offers up to 5% of the loan amount as a forgivable loan.
  • Forgiveness occurs over a set period if residency requirements are met.
  • Credit score and income restrictions apply.

Colorado Housing Assistance Corporation (CHAC)

CHAC’s Down Payment Assistance Program helps low- and moderate-income buyers cover down payment and closing costs.

  • Provides low-interest second mortgage loans.
  • Assistance amounts vary based on financial need.
  • Requires completion of a homebuyer education course.

USDA Rural Development Loans

Homebuyers in eligible rural areas can take advantage of USDA loans, which require no down payment.

  • No down payment required for qualifying properties.
  • Income limits apply, based on household size and location.
  • Can be paired with down payment assistance to cover additional costs.

Local City and County Assistance

Many cities and counties across Colorado offer homebuyer assistance programs.

  • Programs in areas like Denver, Boulder, and Colorado Springs provide grants or low-interest loans.
  • Income and purchase price limits vary by location.
  • Some programs offer assistance that does not require repayment.

Colorado’s down payment assistance programs help homebuyers by reducing upfront costs and making homeownership more affordable. Whether you're a first-time buyer or looking for a new home, these resources can provide valuable financial support.