First-Time Home Buyer Programs in Colorado

Colorado Housing and Finance Authority (CHFA) Programs:

CHFA works with participating lenders statewide to offer 30-year fixed first mortgages (FHA, VA, USDA, conventional) plus multiple down payment and closing cost assistance options. Income and sales-price limits vary by county and product; free CHFA homebuyer education is required. Verify current rates, income limits, and product availability at CHFA Homeownership or with a CHFA-approved lender.

CHFA FirstStep / FirstStep Plus (FHA/USDA/VA focus):

Eligibility: Typically for first-time homebuyers (no primary residence in past 3 years), qualified veterans, or buyers in targeted areas.
Offerings: 30-year fixed-rate mortgage via FHA/USDA/VA with CHFA pairing options for down payment assistance.
Requirements: Credit-score guidance commonly around 620+ for FHA/USDA/VA products; county income limits and loan limits apply (see CHFA). Homebuyer education is required. See CHFA for the current product matrices. CHFA Homeownership.

CHFA FirstGeneration / FirstGeneration Plus (Conventional focus):

Description: For first-generation buyers (no parent or guardian ever owned a home) or first-time buyers; 30-year fixed conventional mortgages through CHFA-participating lenders.
Benefits: Access to larger down payment assistance in some FirstGeneration/HomeAccess scenarios — CHFA materials show up to $25,000 available for eligible borrowers in certain programs.
Requirements: Credit guidance often around 640+ for conventional programs; income limits vary by county; homebuyer education required. See CHFA's program pages and lender guides for exact rules. CHFA Programs & Matrices.

CHFA Down Payment & Closing Cost Assistance (high-level):

Down Payment Assistance Grant: CHFA documents show a DPA grant option that generally provides up to 3% of the first mortgage loan amount (no repayment). Confirm which CHFA product the grant pairs with for county-specific caps. See CHFA Homeownership. CHFA Homeownership.
Second Mortgage (HomeAccess / deferred): CHFA offers deferred second mortgage options (HomeAccess and related programs) that commonly provide up to $25,000 for eligible borrowers. Repayment is typically deferred until sale, refinance, payoff, or when the home is no longer the primary residence. See the CHFA HomeAccess program matrix for product rules and eligibility. CHFA HomeAccess matrix (PDF).

Local & Regional Programs (examples buyers often use):

Many city and county programs offer deferred or forgivable second loans — usually income-based (commonly capped around 80–150% AMI depending on the program) and usually require homebuyer education. Funding and eligibility change fast; confirm with the local housing office or program administrator.

Denver Metro Area

metroDPA: A Front Range program administered through metroDPA and partner servicers that provides a deferred, 0% second mortgage sized as a percent of the first mortgage for down payment and closing costs. Official program materials list a household income ceiling of $210,150 for most eligible counties and minimum credit guidance as low as 620 (640 for some products). Confirm exact income and credit overlays with the metroDPA administrator or a participating lender. See the City/Program pages and servicer guides: metroDPA (Denver) and metro-dpa.com. For servicer-specific income tables see an administrator or servicer PDF (example: eHousingPlus/TMS servicer guide).

Boulder

Middle Income Down Payment Assistance (MIDPA) Pilot: City of Boulder offers a zero-interest second mortgage equal to up to $200,000 or 30% of the sale price (whichever is less) in exchange for deed restrictions to preserve long-term affordability. Income and asset caps apply and the program requires orientation and homebuyer education. Check the City of Boulder page for current income limits, price caps, and waitlist information. Boulder MIDPA.

Aurora

City of Aurora Down Payment Assistance (time-limited): Aurora announced a Proposition 123-funded DPA program on Dec 9, 2025 that provides assistance starting at about 4% and up to 10% of purchase price for eligible buyers inside city limits. The city states the program runs through Oct 31, 2026 or until funds deplete. Confirm current application status, AMI thresholds, and available funds with the city before advising buyers. Aurora announcement.

Additional quick program notes:

• NeighborhoodLIFT (Denver metro counties): Local LIFT rounds administered by Community Resources & Housing Development Corporation (CRHDC) and partners have offered forgivable or deferred assistance historically (examples around $15,000 in prior Front Range rounds). Availability and amounts depend on funding rounds — contact the program admin for current offers. NeighborhoodLIFT (CRHDC).
• USDA Loans: 0% down financing may be available in USDA-eligible rural/suburban areas under USDA Rural Development Single-Family Housing programs; check eligibility maps and income limits on USDA RD pages. USDA RD - Single Family Housing.
• VA Loans: Eligible veterans and active-duty service members often qualify for VA-guaranteed loans with no required down payment; confirm eligibility and COE requirements with the VA. VA Home Loans.
• FHA Loans: FHA loans allow low down payments (commonly 3.5% with credit scores around 580+), but include mortgage insurance and county loan limits — check HUD or your lender for exact underwriting rules. HUD - Single Family Housing.

Colorado buyers often stack CHFA, city/county assistance, and metro/regional programs to reduce upfront costs. Confirm stacking rules and lender program overlays early with a CHFA-approved lender or program administrator.

Program details, income limits, interest rates, and availability may change. Always confirm the latest requirements with the official program administrator or a participating lender.

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