First-Time Home Buyer Programs in Colorado

Colorado Housing and Finance Authority (CHFA) Programs:

CHFA provides 30-year fixed-rate mortgages (FHA, VA, USDA, conventional) with down payment/closing cost assistance options statewide. No sales price limits on most programs; income limits vary by county/household size and targeted areas. Mandatory free homebuyer education (English/Spanish) via CHFA-approved courses. Verify current rates, limits, and availability at chfainfo.com/homeownership or contact a CHFA-approved lender.

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

Eligibility: Primarily first-time homebuyers (no primary residence in past 3 years), qualified veterans, or buyers in targeted areas.
Offerings: 30-year fixed-rate mortgage with competitive rates + down payment assistance options.
Requirements: Credit score typically 620+; income limits vary by county (higher in targeted areas); homebuyer education required.

CHFA FirstGeneration / FirstGeneration Plus (Conventional Focus):

Description: For first-generation homebuyers (no parent/guardian owned home) or first-time buyers; 30-year fixed-rate conventional mortgage.
Benefits: Access to higher assistance (e.g., up to $25,000 flat DPA options).
Requirements: Meet income limits; credit 640+; education required.

Down Payment and Closing Cost Assistance Options:

Down Payment Assistance Grant: Up to the lesser of $25,000 or 3% of first mortgage (no repayment required).
Second Mortgage Loan: Up to the lesser of $25,000 or 4% of first mortgage (deferred; repayable on sale/refinance/payoff or if no longer primary residence). Flat $25,000 for first-gen buyers or those with disabilities.
HomeAccess: Zero-interest second loan up to $25,000 (deferred; for FHA/USDA first-time buyers).
Eligibility: Pair with CHFA first mortgage; meet program income limits.

Local & Regional Programs (Examples):

City/county programs offer additional deferred/forgivable assistance—often income-based (e.g., ≤80–150% AMI) with education requirements. Funding limited; verify local sites.

Denver Metro Area

metroDPA: Up to 6% of first mortgage as zero-interest deferred/forgivable loan for down payment/closing (repay on sale/refinance). Income up to ~$176,700–$210,150; credit 620–640+. Covers Denver + surrounding counties (Adams, Arapahoe, Douglas, Jefferson); see denvergov.org for status.

Boulder

Middle Income Down Payment Assistance (MIDPA) Pilot: Zero-interest second mortgage up to $200,000 or 30% of purchase price (whichever less); shared appreciation repayment. Targets middle-income buyers; deed-restricted affordability.

Aurora

Home Ownership Assistance Program: Up to $10,000 for down payment/closing for first-time buyers; income-based eligibility.

Additional Information:

• NeighborhoodLIFT (Denver Metro Counties): Up to $15,000+ forgivable/deferred assistance (Adams, Arapahoe, Denver, Douglas, Jefferson) via CRHDC; education required.
• USDA Loans: 0% down in eligible rural Colorado areas; income limits apply.
• VA Loans: 0% down for eligible veterans/active-duty military.
• FHA Loans: 3.5% minimum down (580+ credit; 10% if below 580).

Colorado programs emphasize grants and deferred help—always confirm with a CHFA-approved lender. Seeking Agents® connects you with Colorado agents who know these programs and compete to offer reduced commissions or added services—free for buyers/sellers!