Denver Metro Area Down Payment Assistance Options

Saving for a down payment is one of the biggest barriers to homeownership. A variety of programs are available to help qualified buyers reduce their upfront costs and get you into homeownership sooner than you may think!

metroDPA

🔗 https://www.metrodpa.org

• Up to $25,000 in assistance*
• Household income generally must be below $188,250*
• Minimum credit score typically 640*
• Available through participating lenders

CHFA (Colorado Housing and Finance Authority)

🔗 https://www.chfainfo.com/homeownership

Down Payment Assistance Grant

• Up to the lesser of $25,000 or 3% of the first mortgage amount*
• No repayment required*

Second Mortgage Loan

• Up to the lesser of $25,000 or 4% of the first mortgage amount*
• Repayment deferred until sale, refinance, payoff of the first mortgage, or the home is no longer owner-occupied*

NACA (Neighborhood Assistance Corporation of America)

🔗 https://www.naca.com

• No down payment required*
• No private mortgage insurance (PMI)*
• No lender closing costs*
• Competitive below-market fixed interest rates*
• Focuses on affordability and long-term homeownership success
• Homebuyer education and counseling required
• Loan limits apply and vary by county

NACA's qualification process is often more extensive than a traditional mortgage, but for eligible buyers it can significantly reduce the upfront cost of homeownership.

Impact Development Fund (IDF)

🔗 https://impactdf.org

• Up to $30,000 or 20% of the purchase price*
• 15-year fixed loan at 4%*
• Minimum borrower contribution of $1,000*

Colorado Housing Assistance Corporation (CHAC)

🔗 https://chaconline.org/homeownership-programs

• Up to $15,000 or 6% of the purchase price/appraised value*
• Interest rates ranging from 0% to 5%*
• Loan terms from 12.5 to 30 years*

Dearfield Fund

🔗 https://www.dearfieldfund.com

• Up to $50,000 in assistance for eligible buyers*
• Available to qualifying first-time homebuyers who identify as Black or African American*
• No monthly payments
• No interest charges
• Repayment occurs upon sale or refinance and includes a shared-appreciation component*

PATH Homeownership Program

🔗 https://impactdf.org/path-homeownership-program

• Up to $10,000 grant for eligible buyers*
• No repayment required*

Project I See You | Shared Power Initiative

🔗 https://www.projectiseeyou.org/shared-power

• Up to $10,000 grant for qualifying women pursuing homeownership*
• Can be combined with other grant programs.
• No repayment required*
• Locally funded and administered

Community Reinvestment Act (CRA) & Bank-Sponsored Programs

Many banks offer additional incentives through Community Reinvestment Act (CRA) initiatives, Special Purpose Credit Programs (SPCPs), and community lending programs.

Potential benefits may include:

• Reduced interest rates*
• Lender credits*
• Down payment assistance*
• Closing cost grants*
• Neighborhood-specific incentives*

Ask every lender you speak with whether they offer CRA, SPCP, or community lending programs. These opportunities are often lender-specific and may not be widely advertised.

Pro Tip

Not every lender participates in every program, and not every lender is knowledgeable about every program.

If one lender tells you a program is unavailable, it may be worth seeking a second opinion from a lender who specializes in down payment assistance, affordable lending programs, or community lending initiatives.

The right lender can be just as important as the right loan program.

This list has been compiled by Live.Laugh.Colorado. Real Estate agents to help homebuyers understand the variety of homeownership resources that may be available. Program availability, eligibility requirements, and lender participation can vary significantly.

If you have information to add, update, or correct, please contact your Live.Laugh.Colorado. agent or email [email protected].

Disclaimer

* Program details, funding availability, eligibility requirements, income limits, credit score requirements, interest rates, assistance amounts, and underwriting guidelines are subject to change without notice. Not all borrowers will qualify. Not all programs can be combined. Information provided is for educational purposes only and should not be considered legal, tax, lending, or financial advice. Buyers should consult directly with participating program administrators and qualified lenders to verify current terms and eligibility.