See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 7, 2026
Homebuyer Programs in Colorado Springs, CO (2026)
Colorado Springs is the county seat of El Paso County and Colorado's second-largest city, with a population of about 488,000 and a median home price near $441,000 as of 2026. Buyers in Colorado Springs can stack assistance from two El Paso County DPA programs, statewide CHFA programs, and local nonprofits. The El Paso County Turnkey Plus Mortgage Program provides a 30-year first mortgage with up to 5% in zero-interest down payment assistance for households earning up to $108,920, while Pikes Peak Down Payment Assistance (PPDPA) offers up to $20,000 in fully forgivable assistance for households earning up to $174,440, plus an additional 1% grant for select industries. CHFA's DPA Grant adds up to the lesser of $25,000 or 3% of the loan with no repayment required. Pikes Peak Habitat for Humanity and Rocky Mountain Community Land Trust round out the local options with sweat-equity and land trust ownership paths for households below 80% of Area Median Income. Combining these layered programs can dramatically lower the cash required at the closing table.
County Programs in El Paso County
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| El Paso County Turnkey Plus Mortgage Program | Deferred Loan | 30-year first mortgage plus zero-interest soft second mortgage up to 5% of the loan amount | No | View → |
| Pikes Peak Down Payment Assistance | Forgivable Loan | Up to $20,000 or 5% of the loan amount, plus optional 1% industry grant for select occupations | No | View → |
- Type:
- Deferred Loan
- Amount:
- 30-year first mortgage plus zero-interest soft second mortgage up to 5% of the loan amount
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 or 5% of the loan amount, plus optional 1% industry grant for select occupations
- First-time only:
- No
State Programs in Colorado
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| CHAC Down Payment Assistance Program | Deferred Loan | Low-interest, flexible second mortgage for down payment and closing costs | Yes | View → |
| CHFA Down Payment Assistance Grant | Grant | Up to lesser of $25,000 or 3% of first mortgage | No | View → |
| CHFA Down Payment Assistance Second Mortgage Loan | Deferred Loan | Up to lesser of $25,000 or 4% of first mortgage | No | View → |
| CHFA FirstGeneration | Deferred Loan | Up to $25,000 in deferred down payment assistance, paired with 30-year fixed first mortgage | Yes | View → |
| CHFA FirstStep | Government-Insured Mortgage | 30-year fixed-rate FHA first mortgage | Yes | View → |
| CHFA HomeAccess | Zero-Interest Loan | 30-year fixed first mortgage plus optional $25,000 second mortgage for down payment and closing costs | Yes | View → |
- Type:
- Deferred Loan
- Amount:
- Low-interest, flexible second mortgage for down payment and closing costs
- First-time only:
- Yes
- Type:
- Grant
- Amount:
- Up to lesser of $25,000 or 3% of first mortgage
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to lesser of $25,000 or 4% of first mortgage
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- Up to $25,000 in deferred down payment assistance, paired with 30-year fixed first mortgage
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- 30-year fixed-rate FHA first mortgage
- First-time only:
- Yes
- Type:
- Zero-Interest Loan
- Amount:
- 30-year fixed first mortgage plus optional $25,000 second mortgage for down payment and closing costs
- First-time only:
- Yes
Federal Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| FHA Loans | Government-Insured Mortgage | Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026) | No | View → |
| FHLBA Community Partners Product | Forgivable Loan | Up to $20,000 in home purchase assistance for down payment and closing costs | No | View → |
| FHLBA First Time Homebuyer Product | Forgivable Loan | Up to $17,500 in home purchase assistance for down payment and closing costs | Yes | View → |
| FHLBA Workforce Housing Plus+ | Forgivable Loan | Up to $15,000 in home purchase assistance for down payment and closing costs | No | View → |
| Good Neighbor Next Door (HUD) | Government Property Sale Program | 50% discount off the list price of HUD-owned homes | Yes | View → |
| Home Possible Mortgage (Freddie Mac) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HomeReady Mortgage (Fannie Mae) | Government-Guaranteed Mortgage | Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment | No | View → |
| HUD $100 Down Program | FHA-Financed HUD REO Purchase | Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs. | No | View → |
| USDA Rural Development Loans | Government-Guaranteed Mortgage | 100% financing (no down payment required); loan amount up to appraised value | No | View → |
| VA Loans | Government-Guaranteed Mortgage | No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026) | No | View → |
- Type:
- Government-Insured Mortgage
- Amount:
- Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
- First-time only:
- No
- Type:
- FHA-Financed HUD REO Purchase
- Amount:
- Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- Type:
- Government-Guaranteed Mortgage
- Amount:
- No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
- First-time only:
- No
Nonprofit Programs
| Program Name | Type | Amount | First-Time Only | Details |
|---|---|---|---|---|
| Pikes Peak Habitat for Humanity Homeownership Program | Zero-Interest Loan | Affordable Habitat mortgage with sweat-equity ownership model | Yes | View → |
| Rocky Mountain Community Land Trust | Government-Insured Mortgage | RMCLT invests at least 20% of the home purchase price as a co-owner to lower the buyer's monthly payment | Yes | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable Habitat mortgage with sweat-equity ownership model
- First-time only:
- Yes
- Type:
- Government-Insured Mortgage
- Amount:
- RMCLT invests at least 20% of the home purchase price as a co-owner to lower the buyer's monthly payment
- First-time only:
- Yes
How to Apply
Step 1: Check your eligibility. Most Colorado Springs DPA stacks require household income at or below $174,440 (PPDPA) or $108,920 (Turnkey Plus). CHFA programs use county- and household-size-specific limits.
Step 2: Complete homebuyer education. Take a CHFA-approved or HUD-approved course online or in person. Certificates are valid 12 months and must be issued before closing. The Colorado Housing Counseling Coalition and Brothers Redevelopment offer counseling for Colorado Springs applicants — call 719-666-7181 for Brothers Redevelopment.
Step 3: Connect with an approved lender. PPDPA, Turnkey Plus, and CHFA all use approved-lender networks. Many local lenders are credentialed for multiple programs so you can apply once and stack assistance.
Step 4: Get pre-approved for a mortgage. Your lender will pull credit, verify income, and identify which combination of programs fits. The minimum credit score for most programs is 620.
Step 5: Find a home in El Paso County. Both Turnkey Plus and PPDPA require the property be located in El Paso County. Habitat and Rocky Mountain Community Land Trust homes are pre-selected — you apply directly to those nonprofits and they match you with available homes.
Step 6: Submit your assistance reservation. Once you have an accepted offer, your lender or program partner submits the DPA reservation. Funds are committed at the loan reservation stage; verify availability before going under contract.
Step 7: Close on your home. Plan to occupy the property as your primary residence within 60 days of closing. Continued owner-occupancy is required for soft second mortgage forgiveness on Turnkey Plus and PPDPA.