top of page
modern-house-blue-sky-colorado (1).jpg

Colorado Down Payment Assistance Programs

Making Homeownership Affordable

Buying a home is a big step, and having the right financial support is important. In Colorado, there are several Down Payment Assistance (DPA) programs to help make home buying more affordable whether you're a first-time or repeat homebuyer, with options offering up to $25,000 in assistance.

Explore these programs and their benefits with the guidance of Nick Barta, the top down payment assistance loan originator in Colorado and the #1 FHA loan originator in the United States, to understand your options better.

chfa-colorado-top-participating-lender-nick-barta-team.png

CHFA

Offers down payment and closing cost assistance through grants or deferred second mortgages.

metroDPA-colorado-top-participating-lender-nick-barta-team.png

metroDPA

Offers down payment assistance for eligible buyers in the Front Range area.

el-paso-turnkey-colorado-top-participating-lender-nick-barta-team.png

El Paso Turnkey

Offers a 0% interest, forgivable loan for homebuyers in El Paso County.

chac-down-payment-assistance-colorado-top-participating-lender-nick-barta-team (1).png

CHAC

Offers affordable loans to first-time homebuyers for down payment and closing costs.

Get Down Payment Assistance

Kickstart Your Home Ownership Journey

Ready to Buy?

Start with getting preapproved under the trusted expertise of Nick Barta.

Check Your Eligibility

Discover the assistance you qualify for without affecting your credit score.

Learn More

Acquire more insights to navigate your home-buying journey with confidence.

Front porch and entrance to new home in Colorado.png

Featured Down Payment Assistance Programs

  • Down Payment Assistance Grant: Receive up to $25,000 or 3% of your first mortgage, with no repayment required.

  • Second Mortgage Loan: Access up to $25,000 or 4% of your first mortgage, with repayment deferred under certain conditions.

  • ​Availability: Statewide

  • Minimum Credit Score: 620

  • Financial Support: Zero-interest, forgivable assistance loan for down payment and closing costs for buyers with qualifying incomes up to $188,250.

  • Availability: Front Range area from Castle Rock to Wellington

  • Minimum Credit Score: 640

  • Forgivable DPA Loan: 30-year deferred Second Mortgage, with 50% forgiveness over the first five years and the remainder forgiven at the end of 30 years.

  • Availability: Throughout El Paso County, including Colorado Springs

  • Minimum Credit Score: Varies based on loan type

  • Loan Options: Immediate payback or a 5-year deferral plan, both offering up to $12,000 with tailored repayment terms.

  • Disability Program: Up to $10,000 at 0% interest rate with deferred payment for 30 years for individuals with permanent disabilities.

  • Availability: Statewide

  • Minimum Credit Score: Varies based on program

CHFA
metrodpa
El Paso County Turnkey
CHAC

Basic DPA Eligibility Criteria

Image by Lucas Ludwig
  • What is the first time home buying grant in Colorado?
    In Colorado, first-time homebuyers can benefit from the Down Payment Assistance Grant offered by Colorado Housing and Finance Authority (CHFA). This grant can provide up to $25,000 or 3% of your first mortgage, alleviating the burden of a down payment, with no repayment necessary.
  • How long does it take to get down payment assistance?
    The time frame can vary based on the program and your individual circumstances. Generally, it's intertwined with your home loan process. Engaging with a knowledgeable lender early in your home-buying journey can help expedite the process.
  • Pros and Cons of down payment assistance?
    Pros: Lower upfront costs, making homeownership attainable sooner. Some programs offer forgivable loans or deferred repayment plans. May have additional benefits like lower interest rates or reduced mortgage insurance costs. Cons: May come with income, credit, or location restrictions. Some programs require you to stay in the home for a certain period to reap full benefits. A second loan may carry additional interest or higher overall costs over time.
  • How does a home buyer qualify for down payment assistance programs?
    Qualification criteria may include a minimum credit score, income limits, mandatory homebuyer education classes, and residence area specifications. It's advisable to review the eligibility criteria of each program or consult with a trusted lender to understand your qualifications.
  • What kind of home loans are available with down payment assistance?
    Various programs cover different loan types including FHA, VA, USDA, and Conventional Loans. The specific loan types available would depend on the down payment assistance program you opt for.
  • What are the income restrictions for CHFA's down payment assistance programs?
    Income restrictions vary and are designed to ensure the programs are aiding those who need it most. It’s advisable to review CHFA’s program guidelines or consult with a CHFA Participating Lender for precise information.
family-standing-in-front-of-new-colorado-home-nick-barta-team (1).jpg

Hear from Our Community of Happy Homeowners

Choose the Nick Barta Team

Your Local Home-Buying Champions

Discover the joy of buying your dream home in Colorado with a team that knows it inside and out. Local expertise, unbeatable DPA options, and a legacy of thousands of satisfied homeowners – here's why we are the trusted choice:
 

  • Your Neighborhood Mortgage Team: We're right here with you in Colorado, blending professional expertise with local understanding to guide you in your home financing journey.
     

  • Top DPA Lenders: Unlock the best Down Payment Assistance programs in Colorado and make your home buying journey smoother and more affordable.
     

  • Proven Success: Thousands have bought their dream homes with us. Join a community of happy homeowners who trusted our expertise.

Take the first step to a brighter future with a team that cares...

Nick Barta Seated Headshot -  Down Payment Assistance Colorado
bottom of page