Down payment assistance in Colorado

Grant: up to the lesser of $25,000 or 3% of the first mortgage loan amount. Second mortgage: up to the lesser of $25,000 or 4% of the first mortgage loan amount

Buyers choose one, paired with a CHFA first mortgage: a grant that does not have to be repaid, or a 0% silent second with no monthly payments that must be repaid in full on sale, refinance, payoff of the first mortgage, or if the home stops being the primary residence. Either can go toward down payment, closing costs or prepaids, but not cash back.

Who qualifies: Must use a CHFA first mortgage program (FirstStep programs are limited to first-time buyers, qualified veterans, or buyers in targeted areas; SmartStep is open to repeat buyers). Income limits apply by program and county. Minimum mid credit score 620 (DTI capped at 50% for scores 620-659). $1,000 minimum financial investment from the buyer. Homebuyer education from a CHFA-approved provider.

Colorado Housing and Finance Authority · Agency website → · Checked 2026-09-30

Up to $25,000, regardless of first mortgage loan amount

A second mortgage with no monthly payments for first-generation homebuyers, paired with a CHFA FirstGeneration first mortgage. Repayment is deferred until the first mortgage is paid off, the home is sold or refinanced, or it is no longer the primary residence. It is not forgiven.

Who qualifies: First-generation homebuyers as defined by CHFA (check CHFA for the definition). CHFA income limits, 620 minimum credit score, $1,000 minimum investment and homebuyer education apply as with other CHFA programs.

Colorado Housing and Finance Authority (CHFA) · Agency website → · Checked 2026-09-30