Down Payment Assistance

Looking for down payment assistance to purchase a home?  Many potential home buyers think that down payment assistance only exists for first time home buyers, but that is not true.  Down payment assistance is available to most potential home buyers who do not own any other real estate at the time of purchase (closing).  Here is a list of the programs that are available and the restrictions for the program:

Adams County

Second mortgage down payment assistance up to $7,000 available to first time home buyers purchasing within Adams County , CO outside of the city limits of Aurora, CO.  Second mortgage is forgiven at a rate of 10% each year the buyer lives in the home until completely forgiven after 10 years.

Call us or check out Adams County website for income limits, program details and availability of funds.

Arapahoe County

Second mortgage down payment assistance up to $10,000 available to first time home buyers purchasing within Arapahoe County, CO outside of the city limits of Aurora, CO.  Buyer must have lived in Arapahoe County for the past 12 months or worked in Arapahoe County for past 6 months.

Call us or check out Arapahoe County website for income limits, program details and availability of funds.

Aurora HOAP (Home Ownership Assistance Program)

Second mortgage down payment assistance up to $10,000 available to first time home buyers purchasing within the city limits of Aurora, CO.

Call us or check out Aurora HOAP website for income limits, program details and availability of funds.

CHAC (Colorado Housing Assistance Corporation)

CHAC has two programs available depending upon the geographical location of the home being purchased:

City and County of Denver, CO – Second mortgage down payment assistance up to $10,000 available to first time home buyers purchasing within the City and County of Denver, CO.

Statewide, outside of Denver, CO Metro – Second mortgage down payment assistance up to $5,000 available to first time home buyers purchasing within the State of Colorado.

Call us or check out CHAC website for income limits, program details and availability of funds.

CHFA (Colorado Housing and Finance Authority)

CHFA has numerous programs offering down payment assistance up to 3.5% of the purchase price based on your needs.  We have explained all of the various programs on our CHFA page.  One program offered by CHFA allows buyers who are not first time home buyers to obtain down payment assistance.  CHFA also has the highest income limits of all down payment assistance programs within Colorado.

Call us or check out our CHFA page for income limits, program details and availability of funds.

Douglas County

Douglas County has two programs available with different terms:

Down Payment Assistance – Second mortgage down payment assistance up to $20,000 available to first time home buyers purchasing within Douglas County, CO.  Potential buyers must have lived in Douglas County for the past 12 months or currently work in Douglas County at least 20 hours per week.

Shared Equity Program – Second mortgage down payment assistance up to 20% of the purchase price available to first time home buyers within Douglas County, CO.  Potential buyers must  currently work in Douglas County (no minimum number of hours).

Call us or check out Douglas County website for income limits, program details and availability of funds.

Mortgage Credit Certificate

Although a Mortgage Credit Certificate is not a down payment assistance program it is a great option to save a LOT of money.  We have provided the details on how the Mortgage Credit Certificate can assist in saving you money on our MCC page.

Call us or check out our MCC page for income limits, program details and availability of funds.