--- title: "Top 10 Colorado Down Payment Assistance Programs… — Ownify" description: "Compare Colorado's 10 best down payment assistance programs — CHFA, metroDPA, Dearfield Fund & more. Grants up to $40K for first-time homebuyers in 2026." lang: en json-ld: | [ { "@context": "https://schema.org", "@type": "Organization", "@id": "https://ownify.com/#organization", "name": "Ownify", "alternateName": "Ownify Homeownership", "url": "https://ownify.com/", "logo": "https://ownify.com/favicon.png", "description": "Ownify is a fractional homeownership platform that helps first-time homebuyers buy a real home with as little as 2% down by partnering with long-term capital investors. 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Grants up to $40K for first-time homebuyers in 2026.", "image": "https://cdn.sanity.io/images/v1sz851j/production/789a3617def5d3dc175f6b0103a6bf6d523490e6-1920x1080.png?rect=0,36,1920,1008&w=1200&h=630&fit=crop&auto=format", "datePublished": "2026-05-28T15:22:00.818Z", "dateModified": "2026-05-28T15:22:00.818Z", "author": { "@type": "Person", "name": "Frank Rohde" }, "publisher": { "@id": "https://ownify.com/#organization" }, "mainEntityOfPage": { "@type": "WebPage", "@id": "https://ownifyv2.lovable.app/blog/first-time-home-buyer-colorado" } } ] --- We use essential cookies to make our site work. With your consent, we may also use non-essential cookies to improve user experience and analyze website traffic. By clicking “Accept,” you agree to our website's cookie use as described in our Cookie Policy . You can change your cookie settings at any time by clicking “Preferences .” PreferencesDeclineAccept [![Ownify](/assets/ownify-logo-color-B9tRH5I9.png)](/) [Homebuyers](/homebuyers) [Investors](/investors) [Agents](/agents) [Markets](/markets) [Research](/research/ownify-university) [Blog](/blog) [About](/about) [Sign in](https://app.ownify.com/auth/magic/request)[Get started](https://app.ownify.com/applications/new) By Frank Rohde • May 28, 2026 # First-Time Home Buyer Programs in Colorado (2026 Guide) 2026 list of down payment assistance programs for Colorado first time homebuyers. #### **Knowledge is your real down payment!** #### Here's what no one tells you when you start house hunting in Denver, Aurora, Colorado Springs, or anywhere along the Front Range: the down payment is almost never the real barrier. The real barrier is that nobody told you about the dozens of programs designed to bridge it. In Colorado alone, there are over 100 active down payment assistance (DPA) programs - grants, forgivable loans, deferred second mortgages, and shared-appreciation funds - quietly handing out money to first-time and repeat buyers every single day. Some are statewide. Some are hyper-local. Some are reserved for teachers, nurses, or first responders. A few will cover **up to 15% of your purchase price** with zero monthly payments. Below are the top **10 Colorado DPA programs worth knowing about** - the ones with the broadest reach, the most generous terms, or the best fit for the buyers we work with most often at Ownify. Every figure below comes from Ownify's DPA database (2026-05-27 snapshot). Funding status shifts for each of these programs, so always confirm availability before you bank on a specific program. ##### 1\. CHFA Plus: The 800-Pound Gorilla of Colorado DPA If you're buying in Colorado, the **Colorado Housing and Finance Authority (CHFA)** is almost always step one. CHFA's "Plus" programs - SmartStep Plus, Preferred Plus, FirstStep Plus - pair a competitive first mortgage with one of two DPA options: - A 3% grant you never have to pay back, or - A 4% deferred second mortgage at 0% interest It works statewide (all 64 Colorado counties), pairs with FHA, VA, USDA, Fannie Mae, and Freddie Mac loans, and only requires a 620 FICO. Income limits apply but are generous - roughly $174,000 for FHA/VA/USDA borrowers as of 5/27/26. This is the broadest, most flexible DPA in the state. If you qualify for nothing else, you probably qualify for this. ##### 2\. CHFA FirstGeneration Plus: For the First in Your Family to Own If your parents never owned a home, this one's for you. **CHFA's FirstGeneration Plus** program offers a below-market interest rate plus the same 3% grant or 4% deferred second as the standard Plus lineup - but it's specifically designed for first-generation homebuyers building family wealth from scratch. Available statewide, 620+ FICO, income limits apply ($140-160k max Household Income for Denver as of 5/27/26, income caps vary by county). Homeownership is the single biggest driver of generational wealth in America. This program acknowledges that, and helps families break the cycle. ##### 3\. CHAC Statewide DPA: The Reliable Workhorse The **Colorado Housing Assistance Corp (CHAC)** has been doing down payment assistance in Colorado for decades. Their statewide program offers 6% of the purchase price up to $12,000 as a low-interest amortizing second mortgage. Available in all 64 counties. Income limits cap at 80% AMI in most areas (115% in select markets). There's no hard credit minimum, though scores below 620 will need compensating factors. It's flexible, well-established, and works well when stacked with other programs. ##### 4\. metroDPA — The Denver Metro Powerhouse If you're buying anywhere in the 9-county Denver metro (or 46 specific cities), **metroDPA** - run by the City and County of Denver - is one of the most flexible programs you'll find: - 3% or 4% of the loan amount as a 0%-interest, 30-year deferred second mortgage - No first-time homebuyer requirement - No purchase price cap - 640+ FICO - Household income limited to $216k (as of 5/16/26) No FTHB requirement is rare. If you owned a home a decade ago but are starting over now, metroDPA still has you covered. ##### 5\. The Dearfield Fund for Black Wealth: Up to $40,000 in DPA Named after the historic Black settlement of Dearfield, Colorado, the **Dearfield Fund** offers up to $40,000 (or 15% of purchase price) in down payment assistance to first-time Black and African American homebuyers in the Denver metro (6 counties). Structure: 0% interest, 15-year deferred loan. Repaid at sale or refinance - plus a 5% share of the home's appreciation, which gets recycled to fund the next family. Income limits go up to 140% of AMI, which is meaningfully higher than most DPA programs. This is one of the largest DPA awards available anywhere in the country, designed specifically to close the racial homeownership gap. ##### 6\. IDF FirstBank DPA: Up to $30,000 Along the Front Range The **Impact Development Fund's FirstBank program** provides up to $30,000 (or 20% of purchase price) as a 15-year amortizing second mortgage. Income cap is 80% AMI. Available in 9 Front Range counties: Adams, Arapahoe, Boulder, Broomfield, Denver, Eagle, El Paso, Jefferson, and Larimer. $30K is enough to fully cover a meaningful chunk of the down payment on a $400K home. ##### 7\. FHLB Topeka HSP+: A $25,000 Forgivable Grant Each year, the **Federal Home Loan Bank of Topeka** opens its Homeownership Set-Aside Program (HSP+) to homebuyers in 37 Colorado counties (plus parts of Kansas and Oklahoma). The terms are remarkable: - Up to $25,000 as a forgivable grant - No monthly payments - 5-year retention period: stay in the home 5 years and the grant is fully forgiven - ≤80% AMI to qualify - No minimum credit score imposed by the program itself Funding is first-come, first-served. When it runs out, it runs out - until the next year. A truly forgivable grant of this size is rare. If you qualify, get in line early. ##### 8\. EPCHA Pikes Peak DPA: Colorado Springs' Best-Kept Secret For homebuyers in El Paso County (including Colorado Springs), the **El Paso County Housing Authority** offers up to 5% of the loan amount as a 0%-interest, 30-year fully forgivable second mortgage. Stay in the home and the entire balance disappears. There's also a Hometown Heroes bonus: an additional 1% non-repayable grant for teachers, first responders, healthcare workers, military, and other qualifying professions. 640+ FICO, income caps vary by loan type ($174K for FHA/VA/USDA; $90,720 for Freddie Mac conventional with reduced mortgage insurance). Fully forgivable plus a hero bonus is one of the most generous structures in the state. ##### 9\. City of Aurora HOAP: Up to 10% of Purchase Price The **City of Aurora's Homeownership Assistance Program** is one of the most generous local programs in Colorado: 4% to 10% of the purchase price as a 0%-interest deferred loan, funded by Proposition 123. - Available through October 31, 2026, or until funds run out - Income up to 120% AMI (~$168,000 for a family of four) - Properties must be located in Aurora (which spans Arapahoe, Adams, and Douglas counties) 10% of purchase price on a $450K home is $45,000 - and you don't make payments on it. That's life-changing math. ##### 10\. Project I See You: Shared Power Homeowner Grant The Project I See You Shared Power Homeowner Grant Program offers up to $10,000 in true grant funds (not a loan - no repayment) toward down payment or closing costs, plus up to $5,000 in post-closing assistance for moving, home setup, or mortgage assistance. Statewide, 620+ FICO, $55,000+ income required. Preference is given to single-income mothers and BIPOC homebuyers. Pure grants of this size - with no repayment, no forgiveness clock, no equity share - are increasingly rare. And the post-closing support recognizes that the financial pressure doesn't end at the closing table. **How to actually use this list** Reading about DPA is one thing. Stacking it correctly is another. Most Colorado buyers don't qualify for just one program. You might qualify for three or four, and the real expertise is figuring out which combination puts the most money in your pocket without v iolating any program's layering rules. For example: - CHFA Plus is often the first mortgage anchor for buyers using DPA - A local program (metroDPA, EPCHA, Aurora HOAP) can often layer on top for additional assistance - An FHLB HSP+ grant can sometimes stack with the above - The Dearfield Fund and IDF FirstBank programs are powerful but mostly standalone The wrong combination leaves money on the table. The right combination can cover 100% of your down payment, and sometimes closing costs too. **What to do next** If you're a Colorado homebuyer, or thinking about becoming one in the next 12 months, here's the punch list: 1\. Don't assume you can't afford to buy. The "20% down" myth has cost more Coloradans homeownership than any other piece of bad advice. 2\. Get your credit score and income figured out first. Most DPA programs require a 620–640+ FICO and meaningful income documentation. 3\. Talk to someone who knows the layering rules. This is where most buyers leave money on the table - or worse, choose a program that disqualifies them from a better one. 4\. Move quickly when funding opens. Several of these programs are first-come, first-served, and the best ones run out of money within weeks. At Ownify, we work with Colorado homebuyers every day to identify, qualify for, and stack the right DPA programs - alongside our own Fractional Ownership Program for buyers who need an alternative path to that first home. If you'd like a personalized review of what **you** qualify for, build your plan at [https://ownify.com/myplan](https://ownify.com/myplan). The money is out there. The hard part is knowing where to look. **Area Median Income - AMI** Pretty much all down payment assistance programs have income caps to ensure that funds go to those families who need them the most. That’s where you hear the term “AMI” or “Area Median Income”. The Area Median Income is the median income for a household (including all income earners) for the county that you live in - that means 50% of households earn more and 50% earn less (it’s actually more complicated than that). AMI is determined based on household size and HUD (Housing and Urban Development) publish the AMI tables every year. For example, in 2026, the Area Median Income for a family of four in Denver is $144,000. You can find the most recent AMI number for Colorado here: [https://www.chfainfo.com/rental-housing/asset-management/rent-income-limits](https://www.chfainfo.com/rental-housing/asset-management/rent-income-limits) Program details current as of the 2026-05-27 snapshot of Ownify's DPA database. 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