Colorado Down Payment Assistance Mortgage

Depending on where you plan to purchase your home there are different down payment programs.  All down payment programs in Colorado require a Colorado Housing and Finance Authority (CHFA) approved home buyer education class to be eilgible for the down payment assistance.   CHFA approved course schedule.

CHFA HomeOpener Plus, Colorado:  Provides the home buyer a 2nd mortgage to be used for down payment and closing costs. The home buyer is REQUIRED to obtain 1st mortgage through CHFA.

• Max Loan Amount: 3% of the 1st mortgage loan amount.

• The home buyer does NOT have to be 1st time home owner.

• Income Limits: Yes, see chart below

• Locations: All of Colorado

• Minimum Financial Contribution: $1,000

• Interest Rate/Term: 2nd mortgage rate/term is equal to 1st mortgage rate/term

• Interest Rate on 1st mortgage can be up to 1% higher than market rate



CHAC, Colorado: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $5,000 or $10,000 based on property location

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: All of Colorado, EXCEPT Arvada, Westminster, Aurora, Adams County, Boulder County, and Douglas County

• Minimum Financial Contribution: $1,000

• Interest Rate/Term: Either 5 year payments deferred with a 6% rate OR payments starting right away at 2%



Boulder County, Colorado Down Payment Assistance: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: 8.5% of purchase price, max of $15,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Boulder County

• Minimum Financial Contribution: $2,000

• Interest Rate/Term: 3% interest loan amortized over 10 years



Adams County, Colorado Down Payment Assistance: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $7,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Adams County or Westminster

• Minimum Financial Contribution: 1% of purchase price

• Interest Rate/Term: Forgivable over 10 years

• MUST take Adams County Specific class before signing contract





Loveland, Colorado and Larimer County, Colorado: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $10,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Larimer County

• Minimum Financial Contribution: $1,000

• Class Required

• Interest Rate/Term: 2% over 10 years



Aurora, Colorado: Provides the home buyer a 2nd mortgage to be used for down payment or closing costs. The home buyer can obtain 1st mortgage from any source.

• Max Loan Amount: $10,000

• First Time Home Buyer ONLY

• Income Limits: 80% of Median Income

• Locations: Aurora

• Minimum Financial Contribution: 1% of purchase price

• Counseling and Class required

• Interest Rate/Term: 3% over 5 years

For more information or question on down payment assistance options in Colorado, please call.

Colorado Mortgage Programs