Colorado Down Payment Assistance Programs [2021]

Colorado Housing & Finance Authority or CHFA is one of the best assistance programs in the state due to the fact that they provide assistance statewide, always have funding available, and have some of the highest income limits.

AREA:  State of Colorado

ASSISTANCE: up to 4% of purchase price

FIRST TIME HOME BUYER: Not required (varies by program)

MINIMUM CONTRIBUTION: $1,000

INCOME LIMIT: varies by household size & program

Click here for additional details on CHFA’s programs.

CHFA has six programs you might consider depending upon your situation including:

• CHFA FirstStep/CHFA FirstStep Plus
• CHFA SmartStep/SmartStep Plus
• CHFA Preferred/CHFA Preferred Plus
• CHFA Preferred Very Low Income Program (VLIP)
• CHFA HomeAccess
• CHFA SectionEight Homeownership
• CHFA Mortgage Credit Certificate

This program has been discontinued.

For down payment assistance in Arapahoe county consider either the Aurora HOAP program (if in city limits of Aurora), CHAC or CHFA.

First time home buyers looking to purchase within the city of Aurora may be able to utilize the Aurora HOAP program which offers a second mortgage loan to assist with both down payment and closing costs.

AREA: Aurora, Colorado

ASSISTANCE: up to $10,000

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: 1% of purchase price

INCOME LIMIT: varies by household size

Click here for additional details on the Aurora HOAP program.

The City of Boulder has three programs to help homebuyers purchasing within the city limits of Boulder, Colorado.

AREA: Boulder, Colorado

ASSISTANCE: up to $200,000 (varies by program)

FIRST TIME HOME BUYER: varies by program

MINIMUM CONTRIBUTION: $2,000

INCOME LIMIT: varies on household size

Click here for additional details on Boulder’s programs.

The City of Boulder has three assistance programs available:

• Boulder Solution Grant
• Boulder Middle Income Program
• Boulder H2O Loan

Boulder County offers down payment assistance to those looking to buy within the Boulder County but outside the city limits of Boulder.

AREA: Boulder County, Colorado outside the City of Boulder

ASSISTANCE: up to $40,000

FIRST TIME HOME BUYER:Required (some exceptions to those who have been divorced within the past three years)

MINIMUM CONTRIBUTION: 1% of purchase price

INCOME LIMIT: $105,750 (varies on household size)

Click here for additional details on Boulder County’s program.

First time home buyers looking to purchase within Commerce City may be able to utilize their Homebuyer Program which offers a second mortgage loan to assist with both down payment and closing costs.

AREA: Commerce City, Colorado

ASSISTANCE: up to $10,000

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: 1% of purchase price

INCOME LIMIT: varies by household size

Click here for additional details on the Commerce City Homebuyer Program.

Colorado Housing Assistance Corporation or CHAC provides down payment assistance to low to moderate income first time home buyers and is a great alternative to CHFA if you meet the income limits.

AREA:  State of Colorado, City & County of Denver, Jefferson County

ASSISTANCE: up to $20,000

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: $1,000

INCOME LIMIT: varies by household size & program

Click here for additional details on CHAC’s programs.

CHAC has four distinct programs depending upon where you plan to buy or if a member of the household has a permanent disability:

• CHAC Statewide
• CHAC Denver (City and County)
• CHAC Jefferson County
• CHAC Disability Program

First time home buyers looking to purchase within Douglas County may be able to utilize one of their assistance programs to cover down payment and/or closing costs.

AREA: Douglas County, Colorado

ASSISTANCE: up to $34,000

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: $1,000

INCOME LIMIT: varies by household size and program

Click here for additional details on Douglas County Housing Partnership programs.

Douglas County Housing Partnership has two forms of down payment assistance available:

• Douglas County Amortizing Loan
• Douglas County Shared Equity

Eagle County has a variety of assistance programs for home buyers purchasing in Eagle CountyHomebuyers employed by Eagle County Government for at least 30 hours per week may be eligible for their down payment assistance program.

AREA: Eagle County, Colorado

ASSISTANCE: up to $18,140 (varies by program)

FIRST TIME HOME BUYER: Not required (varies by program)

MINIMUM CONTRIBUTION: varies by program

INCOME LIMIT: varies by program

Click here for additional details on Eagle County programs.

Eagle County has multiple down payment assistance available including:

• Eagle County Loan Fund (ECLF) for First Time Home Buyers
• Eagle County Loan Fund (ECLF) with FHA
• Eagle County Eagle Ranch Housing Corporation
• Eagle County Division of Housing
• Eagle County Employee Home Ownership Program (EHOP)

Homebuyers looking to make a home purchase within El Paso County, including the City of Colorado Springs, may be eligible for their Turnkey down payment assistance program.

AREA: El Paso County, Colorado including Colorado Springs

ASSISTANCE: up to 5% of purchase price (forgivable)

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: None

INCOME LIMIT: $120,120 (varies by first mortgage)

Click here for additional details on El Paso County’s Turnkey program.

Fannie Mae has two low down payment options for low to moderate income homebuyers looking to obtain a conventional loan.

AREA:  State of Colorado

ASSISTANCE:  None

FIRST TIME HOME BUYER: Not required (varies by program)

MINIMUM CONTRIBUTION: 3% down payment, unless combined with eligible down payment assistance program

INCOME LIMIT: 97% LTV = No, HomeReady = Yes

Click here for additional details on the Fannie Mae home loan program.

Fannie Mae has two low down payment options including:

• Fannie Mae 97% LTV
• Fannie Mae HomeReady

The Federal Housing Administration, or FHA, provides mortgage insurance which allows you to make a home purchase with as little as 3.5% down payment but can be combined with many of the down payment assistance programs described on this page.

AREA: State of Colorado

ASSISTANCE: None

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: 3.5% down payment, unless combined with eligible down payment assistance program

INCOME LIMIT: No

Click here for additional details on the FHA home loan program.

Freddie Mac’s Home Possible offers a low down payment option for those looking to utilize conventional financing and have a small down payment of their own.

AREA:  State of Colorado

ASSISTANCE:  None

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: 3% down payment, unless combined with eligible down payment assistance program

INCOME LIMIT: varies by location

Click here for additional details on the Freddie Mac Home Possible loan program.

Homebuyers looking to make a home purchase within Grand County (with a focus on the Town of Winter Park) may be eligible for their down payment assistance program.

AREA: Grand County, Colorado with a focus on Winter Park

ASSISTANCE: ?

FIRST TIME HOME BUYER: ?

MINIMUM CONTRIBUTION: ?

INCOME LIMIT: ?

Click here for additional details on Grand County’s program.

Larimer Home Ownership Program, or LHOP, provides low to moderate income households with down payment assistance.

AREA: Larimer County, Colorado

ASSISTANCE: up to $15,000

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: 1% of purchase price

INCOME LIMIT: $89,920 (varies on household size)

Click here for additional details on Larimer County’s program.

Many cities and counties throughout Colorado participate in metroDPA’s Down Payment Assistance program.

AREA: multiple cities & counties in Colorado (see list)

ASSISTANCE: up to 5% of purchase price (forgivable)

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: None

INCOME LIMIT: $139,200 

Click here for additional details on the metroDPA program.

Many cities and counties throughout Colorado participate in metroDPA’s Down Payment Assistance program.

AREA: Colorado Counties of Adams, Arapahoe, Denver, Douglas or Jefferson

ASSISTANCE: up to $15,000 (forgiven)

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: None

INCOME LIMIT: $110,750 (varies by household size) 

Click here for additional details on the Neighborhood LIFT program.

NEWSED assists low to moderate income first time home buyers.

AREA: Denver, Colorado

ASSISTANCE: ?

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: $1,000 (varies by first mortgage)

INCOME LIMIT: up to $98,050 (varies by household size)

Click here for additional details on NEWSED’s program.

Northeast Colorado Housing offers down payment assistance to those in Northeast Colorado.

AREA: Northeast, Colorado including Logan, Morgan, Phillips, Sedgwick, Washington, and Yuma Counties

ASSISTANCE: up to $5,940

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: varies by need

INCOME LIMIT: varies by household size

Click here for additional details on the NECHI program.

Prairie Development Corporation, or PDC, serves Cheyenne, Elbert, Kit Carson and Lincoln counties by offering down payment assistance.

AREA: Colorado Counties of: Cheyenne, Elbert, Kit Carson and Lincoln

ASSISTANCE: $5,490

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: 1% of purchase price or $1,000 (whichever is greater)

INCOME LIMIT: 80% of area-median income

Click here for additional details on the PDC program.

TEMPORARILY CLOSED

Pueblo Home Down Payment Assistance Program, or HDAP, provides down payment assistance in the City of Pueblo, Colorado.

AREA: Pueblo, Colorado

ASSISTANCE: up to $5,000 (forgiven)

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: 50% of first mortgage down payment

INCOME LIMIT: ?

Click here for additional details on the Pueblo HDAP program.

First time home buyers looking to purchase within southwest Colorado within the city of Durango or La Plata, Montezuma, Archuleta, Dolores and San Juan counties may be able to utilize one of their many assistance programs to cover down payment and/or closing costs.  Their assistance programs offer some of the highest assistance amounts in the state. 

AREA: City of Durango, Colorado and La Plata, Montezuma, Archuleta, Dolores and San Juan counties.

ASSISTANCE: up to $70,000 (varies by program)

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: 1% of purchase price

INCOME LIMIT: varies by household size and program

Click here for additional details on the HomesFund programs.

Southwest Colorado’s HomesFund has eight programs offering down payment and closing cost assistance including:

• HomesFund La Plata County Affordability Loans (up to $29,000)
• HomesFund Affordability Loans (other counties, up to $19,000)
• HomesFund Moderate Income Loans (MIMAP, up to $19,000)
• HomesFund 2020 HOME Loan (up to $14,750)
• HomesFund Impact Loan (up to $15,000)
• HomesFund Building Wealth Loans (up to $70,000)
• HomesFund Fair Share Program (up to $25,000)
• HomesFund Purgatory/DMR Program (up to $70,000)

NeighborWorks serves Southern Colorado by providing down payment assistance through three different programs including their Evergreen, Aspen and Ponderosa Home Mortgages.

AREA: Southern Colorado

ASSISTANCE: up to 10% of purchase price

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $1,000

INCOME LIMIT: varies by program

Click here for additional details on Neighborworks’ program.

Total Concept serves the Tri-County area of Colorado including Bent, Crowley and Otero counties with down payment and closing cost assistance.

AREA: Colorado Counties of: Bent, Crowley and Otero

ASSISTANCE: up to $3,000

FIRST TIME HOME BUYER: Required

MINIMUM CONTRIBUTION: 50% of first mortgage down payment & closing costs

INCOME LIMIT: ?

Click here for additional details on the Total Concept program.

The United States Department of Agriculture provides home loans to low to moderate income households purchasing in eligible rural areas.

AREA:  State of Colorado in eligible rural areas

ASSISTANCE:  No required down payment

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: varies by location

Click here for additional details on the USDA home loan program.

VA home loans help active military, veterans, and eligible surviving spouses become homeowners with no required down payment or monthly mortgage insurance.

AREA: State of Colorado

ASSISTANCE: None (0% down)

FIRST TIME HOME BUYER: Not required

MINIMUM CONTRIBUTION: $0

INCOME LIMIT: No

Click here for additional details on the VA home loan program.