💰 Down Payment Assistance
The money most buyers never claim
Every year, down payment assistance goes unused because buyers don’t know it exists. The Colorado Housing and Finance Authority (CHFA) pairs its fixed-rate first mortgages with down payment help — a grant that never has to be repaid, or a deferred second mortgage repaid only when you sell, refinance, or pay off the loan — for qualified buyers who meet income and purchase-price limits.
Is this you?
Down Payment Assistance tend to be a great fit for…
- First-time buyers (and some repeat buyers in targeted areas)
- Households within CHFA income limits (limits vary by county)
- Buyers who qualify on income but are short on savings
- Anyone told “come back when you’ve saved more”
Questions friends actually ask
Down Payment Assistance: straight answers
How does down payment assistance work in Colorado?
CHFA offers assistance two ways, and you choose one: a grant (up to the lesser of $25,000 or 3% of your first mortgage) that never has to be repaid, or a deferred second mortgage (up to the lesser of $25,000 or 4%) repaid when you sell, refinance, or pay off the first mortgage. Both are paired with a CHFA first mortgage through a participating lender — Dominick walks you through the pairing.
Do I have to be a first-time buyer to get assistance?
Not always. CHFA FirstStep is for first-time buyers, qualified veterans, or purchases in targeted areas — but CHFA SmartStep and Preferred programs are open to repeat buyers too. Income and purchase-price limits apply and vary by county, and a homebuyer education class is required.
Is down payment assistance a grant or a loan?
CHFA’s grant option does not have to be repaid; the second-mortgage option is a deferred loan with no monthly payment, repaid only when you sell, refinance, or pay off the first mortgage. Assistance options carry trade-offs (like rate), so Dominick shows you the full picture in plain English before you commit.
Keep exploring
Conventional Loans
The workhorse of home financing — flexible terms, competitive costs, and down payments as low as 3% for first-time buyers.
Learn more →FHA Loans
The first-time buyer favorite — 3.5% down, friendlier credit requirements, and forgiving guidelines for real-life finances.
Learn more →VA Loans
For those who served — $0 down, no monthly mortgage insurance, and some of the strongest terms in all of lending.
Learn more →Not sure if down payment assistance are right for you?
That’s literally what Dominick is for. One conversation, all your options side by side, zero pressure to move forward.