First-Time Homebuyer Programs in Colorado

Colorado offers a strong stack of homebuyer assistance through the Colorado Housing and Finance Authority (CHFA), the state's primary housing finance agency. CHFA pairs 30-year fixed-rate first mortgages (FirstStep, FirstStep Plus, FirstGeneration, and HomeAccess) with two flagship down payment assistance options: a DPA Grant of up to the lesser of $25,000 or 3% of the loan amount with no repayment required, and a DPA Second Mortgage Loan of up to the lesser of $25,000 or 4% of the loan amount with deferred repayment. The Colorado Housing Assistance Corporation (CHAC) provides additional low-interest second mortgages statewide for first-time buyers. All CHFA programs require a 620 minimum credit score and a CHFA-approved homebuyer education course before closing.