Colorado programs

Down payment assistance in Colorado

Down payment assistance, often shortened to DPA, helps cover the upfront cost of buying a home, usually through a grant or a second loan paired with your main mortgage. In Colorado, the best-known source is CHFA, the Colorado Housing and Finance Authority, which offers assistance to eligible buyers who complete a homebuyer education course. For many buyers it is the difference between buying now and saving for several more years.

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How it works

How down payment assistance works

It pairs with your first mortgage

DPA is not a loan on its own. It sits alongside a primary mortgage, an FHA, VA, USDA, or conventional loan, and helps with the down payment and, in some cases, closing costs. You qualify for the first mortgage first, then layer assistance on top.

It comes as a grant or a second mortgage

Depending on the program, assistance may be a grant you do not repay or a second mortgage that is repaid later, sometimes only when you sell or refinance. The structure matters, and we walk through which type a program uses before you commit.

It requires homebuyer education and a participating lender

CHFA assistance requires completing an approved homebuyer education course and working through a CHFA-participating lender. There is also typically a small minimum contribution from the buyer. We help you line these pieces up in the right order.

Program structures, assistance amounts, income limits, and price limits are set by CHFA and change over time. We do not state specific figures here on purpose; confirm the current details for your situation at chfainfo.com or by asking us.

Who it is for

Who may qualify

CHFA assistance is aimed at low-to-moderate-income Colorado buyers purchasing a primary residence, and eligibility turns on a handful of factors: your household income against the limit for your county and household size, the purchase price against program limits, your credit profile, and completion of a homebuyer education course. Some programs are reserved for first-time buyers, while others are open to repeat buyers, so do not rule yourself out before checking. Because the limits update periodically, the honest answer to "do I qualify" is a quick conversation rather than a number on a page. The Colorado Housing and Finance Authority (chfainfo.com) publishes the current income and price limits.

Where we come in

How Clayhouse helps

We are an independent Colorado Springs brokerage, so our job is to help you see the full picture and figure out whether a down-payment-assistance path actually fits, or whether a standard low-down loan gets you there with less complexity. We will explain how a given program is structured, whether the assistance is a grant or a repayable second, what the education requirement involves, and how it stacks against your other options. If a CHFA-backed path is the right move, we point you to it; if it is not, we say so. The goal is the lowest-stress way into the right home, not the most paperwork. More about how we work.

Common questions

Answered straight

What is down payment assistance?+

Help covering the upfront cost of buying a home, usually a grant or a second loan paired with your main mortgage. In Colorado, CHFA is the best-known source.

Is the assistance a grant I never repay?+

It depends on the program. Some assistance is a grant you do not repay; some is a second mortgage repaid later, sometimes only when you sell or refinance. We confirm which structure applies before you commit.

Do I have to be a first-time buyer?+

Not always. Some CHFA programs are reserved for first-time buyers, while others are open to repeat buyers. It is worth checking rather than assuming you are excluded.

Is there an education requirement?+

Yes. CHFA assistance requires completing an approved homebuyer education course. It is straightforward, and we help you find an approved option.

Can I use assistance with an FHA or VA loan?+

Often, yes. Assistance is designed to pair with a primary mortgage such as FHA, VA, USDA, or conventional. We confirm the right pairing for your situation.

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Down payment assistance in Colorado

How down payment assistance works

It pairs with your first mortgage

It comes as a grant or a second mortgage

It requires homebuyer education and a participating lender

Who may qualify

How Clayhouse helps

Answered straight

Related reading

CHFA loans

First-time buyers

FHA loans

Let’s see if assistance can get you in sooner.