Colorado Housing and Finance Authority (CHFA) Programs:
Updated March 2026CHFA 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!
View First-Time Home Buyer Programs for: Connecticut
Frequently Asked Questions
What first-time home buyer assistance is available in Colorado?
Colorado buyers may qualify for statewide assistance, local affordability programs, and federal loan options such as FHA, VA, and USDA financing. The best fit depends on your income, location, and the type of property you plan to buy.
What first-time home buyer assistance is available in Colorado?
Colorado buyers may qualify for statewide assistance, local affordability programs, and federal loan options such as FHA, VA, and USDA financing. The best fit depends on your income, location, and the type of property you plan to buy.
Who is considered a first-time home buyer in Colorado?
Most Colorado programs define a first-time home buyer as someone who has not owned and occupied a primary residence during the previous three years. Some exceptions may apply depending on the program.
Who is considered a first-time home buyer in Colorado?
Most Colorado programs define a first-time home buyer as someone who has not owned and occupied a primary residence during the previous three years. Some exceptions may apply depending on the program.
How much down payment help can Colorado buyers receive?
Colorado down payment assistance can range from a modest grant to a more substantial deferred or second-loan amount. The exact benefit depends on the program guidelines, the borrower profile, and available funding.
How much down payment help can Colorado buyers receive?
Colorado down payment assistance can range from a modest grant to a more substantial deferred or second-loan amount. The exact benefit depends on the program guidelines, the borrower profile, and available funding.
Do I need to complete a homebuyer course in Colorado?
Many Colorado assistance programs require a homebuyer education course. These classes are intended to prepare borrowers for budgeting, financing decisions, closing expenses, and long-term ownership.
Do I need to complete a homebuyer course in Colorado?
Many Colorado assistance programs require a homebuyer education course. These classes are intended to prepare borrowers for budgeting, financing decisions, closing expenses, and long-term ownership.
Can a Colorado real estate agent help with buyer assistance programs?
Yes. A Colorado agent who understands first-time buyer financing can help you narrow your home search, connect with lenders, and avoid homes or timelines that do not work well with assistance rules.
Can a Colorado real estate agent help with buyer assistance programs?
Yes. A Colorado agent who understands first-time buyer financing can help you narrow your home search, connect with lenders, and avoid homes or timelines that do not work well with assistance rules.