Colorado Housing and Finance Authority (CHFA) Programs:
Updated June 1, 2026CHFA 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 program matrices). Homebuyer education is required. See CHFA program matrix for details. CHFA FirstStep matrix (PDF).
CHFA FirstGeneration / FirstGeneration Plus:
Description: Programs targeted to first-generation homebuyers and first-time buyers; check product matrices for loan types allowed.
Benefits: Access to CHFA second mortgage assistance in many FirstGeneration/HomeAccess scenarios; program materials show second mortgage options commonly up to $25,000 for eligible borrowers. CHFA FirstGeneration matrix (PDF).
Requirements: Credit guidance often around 620+ for government products; conventional overlays may be higher. See CHFA matrices and lender guides for exact rules.
CHFA Down Payment & Closing Cost Assistance (high-level):
CHFA DPA details: CHFA product matrices show program-specific DPA structures. For example: CHFA FirstStep/Preferred-style products commonly offer a CHFA second mortgage for up to the lesser of $25,000 or 4% of the first mortgage loan on applicable products, while HomeAccess and some FirstGeneration options commonly provide up to $25,000 in a deferred, silent second. Confirm which CHFA product pairs with which assistance amount and county caps. See CHFA program matrices. FirstStep matrix (PDF) and 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 metroDPA materials commonly list a household income ceiling around $210,150 for many eligible counties and minimum credit guidance of 620 (640 for some products); county-level limits and servicer-specific overlays vary — always confirm the county-level limit and product overlays with the metroDPA administrator or a participating lender. See the program site: metroDPA (program) and the metroDPA income table: metroDPA income limits (PDF). For servicer-specific income tables see an administrator or servicer PDF.
Boulder
City of Boulder programs: Boulder operates several homeownership programs including H2O (House to Homeownership) and a middle-income pilot (MIDPA) that has offered zero-interest second mortgages and shared-equity options in exchange for deed restrictions. City materials show H2O loan amounts expanded in recent years (examples up to $100,000) and MIDPA pilot descriptions; confirm current availability, income caps, and waitlist status with Boulder Homeownership. See Boulder program pages: Boulder Homeownership and H2O program.
Aurora
City of Aurora Down Payment Assistance (time-limited): Aurora announced a Proposition 123-funded DPA program in a Dec 2025 news release 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 NeighborhoodLIFT rounds administered by community partners have offered forgivable or deferred assistance historically (award sizes vary by round; some local rounds have offered amounts around $15,000 while other LIFT rounds list $25,000). Availability and amounts depend on funding rounds — contact the program admin for current offers. NeighborhoodLIFT (admin).
- 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 - Loans (FHA overview).
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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