Down payment assistance Colorado; piggy bank savings jar

Down Payment Assistance Colorado

Applying for down payment assistance in Colorado isn’t as hard as it sounds. If you can’t commit to 30 years, don’t worry! You don’t have to. There are many loans available for your unique situation. If you’re interested in paying down your loan in 15 years, you can actually receive a better rate for that! What about a 20 year loan? Same thing! Keep reading to discover the best down payment assistance Colorado has to offer:

Which Down Payment Assistance Program is Right for You?

The most common choice for first time homebuyers are 30 year loans. While these loans take longer to pay down, they allow you to start at a lower interest rate. No matter what your financial situation is, there is a viable option out there for you! Our guide below will help you better understand the process. Contact Jackie Gonzales (Guild Mortgage) if you have any questions.

Guide to Down Payment Assistance Programs in Denver, Colorado

Down payment programs in Denver; woman bought a house happy


  • Offers both Government (VA, USDA and  FHA) as well as Convectional products for purchasing in all of Colorado.
  • The conventional options are CHFA’s preferred and preferred plus option (4% of loan amount as a second mortgage.)

CHFA’s Government loans all share rates under CHFA Smart Step and Smart Step Plus (4% of loan amount as a second mortgage.)

There is also an optional grant available but it only provides 3% as a second mortgage.

For Denver metro down payment assistance programs, the Denver metroDPA offers similar benefits. Their internal rules are different and they offer a variety of rates and assistance.

NOTE : Denver metroDPA loans are forgivable after three years whereas CHFA financing is not forgivable.

Reference: metroDPA – EhousingPlus

Jackie also serves the state of New Mexico: With New Mexico’s down payment assistance options, they are a tad more complicated. They offer a fha option (First Home gov) and conventional options such as (First home Conventional). And 2nd mortgages which are in loan terms of 10,15 and 30 years. These loans all must be paid back and have a max loan amount of $8000 (for closing costs and DPA).

Reference: Lenders and REALTORS® | New Mexico Mortgage Finance Authority (

All rates change and flow with the market so are usually updated once a week or daily.

DPA Colorado: CHFA
  • Chfa has over 6 different options for down payment assistance and loan programs. Depending on your credit score, income level and purchase price- there are options for you!
  • View CHFA PowerPoint for more information here.
  • View CHFA Programs’ website

DPA Colorado: Freddie Mac

DPA Colorado: Fannie Mae