Down Payment Assistance · Colorado
Colorado Down Payment Assistance That Actually Closes Deals
CHFA, metroDPA, and CHAC can cover 3% to 5% of your purchase price — sometimes the whole down payment. We’re a CHFA-approved mortgage broker, which means we layer these programs with your first mortgage so you can close on a Colorado home without draining your savings.
Up to $25,000
3 programs
620 FICO
Three Ways Down Payment Assistance Shows Up On Your Closing Disclosure
Down payment assistance isn’t one thing — it’s three different structures. The one you qualify for depends on the program, your income, and what you’re buying. Here’s how each one works in plain English.
Down Payment Assistance Grants
The simplest form of Down Payment Assistance is a grant. A grant provides cash toward your down payment and closing costs with no repayment, no lien, and no strings attached, as long as you continue to live in the home. metroDPA’s flagship Down Payment Assistance program works this way. This option is best when you qualify and funding is available, as programs may open and close based on available funds.
Learn more about Down Payment Assistance programs here:
Down Payment Assistance Programs Overview
Down Payment Assistance Second Mortgages
Another common form of Down Payment Assistance is a silent or deferred second mortgage that sits behind your first mortgage. You make no monthly payments on this loan, and repayment typically occurs when you sell, refinance, or pay off your primary mortgage. CHFA’s Second Mortgage program is a good example, often offering interest-deferred financing at 0%.
Forgivable Down Payment Assistance Programs
Some Down Payment Assistance programs are structured as forgivable loans. These loans are gradually forgiven over time as long as you remain in the home. In many cases, the balance is fully forgiven after 5–10 years. If you sell the home before the forgiveness period ends, you may need to repay the remaining balance. Many county and city Down Payment Assistance programs use this structure to encourage long-term homeownership and help buyers stay in their homes longer.
The Colorado Down Payment Assistance Programs Forge Originates
These are the four programs that close the most deals in Colorado. Each card breaks down what you get, who qualifies, and what to know before you apply. We layer these with FHA, VA, USDA, and Conventional mortgages — so the structure adapts to your situation,.
CHFA Down Payment Assistance Grant
| Max Amount | Up to 3% of your first mortgage |
| Income Limit | Varies by county — typically $140K-$170K household |
| Min FICO | 620 |
| First-Time Buyer Required? | No — open to first-time and repeat buyers |
Colorado Housing and Finance Authority’s flagship grant. No repayment, no second lien — the money goes toward your down payment and closing costs at closing. Pairs with CHFA’s first mortgage products (Preferred, SmartStep, FirstStep, Advantage).
Best fit for: Buyers who need help but want zero strings — and don’t want a second mortgage on their credit report.
CHFA Second Mortgage Loan
| Max Amount | Up to 4% of your first mortgage |
| Income Limit | Same as CHFA Grant — varies by county |
| Min FICO | 620 |
| First-Time Buyer Required? | No |
A 0% interest, deferred-payment second loan. No monthly payments — you repay the principal only when you sell, refinance, or pay off the first mortgage. Useful when you need more than 3% in assistance.
Best fit for: Buyers who need a bigger boost (over 3%) and plan to stay in the home medium-to-long term.
metroDPA (City and County of Denver)
| Max Amount | Up to 5% of your loan amount |
| Income Limit | Up to $176,700 (1-2 person household) |
| Min FICO | 640 |
| First-Time Buyer Required? | No |
Run by the City and County of Denver but available across most of the Denver metro area. One of the most generous grants in Colorado — covers down payment AND closing costs. Funding opens and closes based on the city’s allocation, so timing matters.
Best fit for: Denver metro buyers who want the largest grant available and can move quickly when funding is open.
metroDPA (City and County of Denver)
| Max Amount | Up to 20% of purchase price (low-income); up to $15,000 (moderate income) |
| Income Limit | 80% of Area Median Income for the larger loan amounts |
| Min FICO | 620 |
| First-Time Buyer Required? | Yes — most CHAC products require first-time buyer status (no homeownership in past 3 years) |
Need-based assistance from a Colorado nonprofit. Operates as a low-interest second mortgage with portions sometimes forgiven. Best for lower-income buyers who need more than CHFA’s standard programs can provide.
Best fit for: First-time buyers under 80% AMI who need substantial assistance and are willing to do homebuyer education.
How DPA Layers With Your Forge Mortgage
DPA doesn’t replace your mortgage — it sits next to it. Here’s the four-step process from first conversation to keys in hand.
01
We Check What You Qualify For
You tell us your income, credit score, and where in Colorado you want to buy. We pull your credit (soft pull for pre-qualification) and run you against every DPA program you’re eligible for. Most buyers qualify for at least one program — many qualify for two or three layered together.
02
We Layer DPA With Your First Mortgage
DPA stacks on top of your primary mortgage. We choose the right combination — FHA + CHFA Grant for a 620 credit score buyer, Conventional + metroDPA for a Denver buyer with good credit, VA + CHFA for a veteran. The math gets done before you write your first offer.
03
You Complete Homebuyer Education
Most DPA programs require 8 hours of homebuyer education from a HUD-approved counselor. It’s free or low cost, available online, and we’ll point you to the right course based on which program you’re using. Most buyers finish it in one or two evenings.
04
You Close — Sometimes With $0 Out Of Pocket
At closing, your DPA funds wire directly to escrow. Combined with seller credits and gift funds, some Forge buyers walk out of closing having spent only the cost of their home inspection and appraisal. That’s the goal.
Who Qualifies For Colorado Down Payment Assistance?
DPA doesn’t replace your mortgage — it sits next to it. Here’s the four-step process from first conversation to keys in hand.
Income Limits By County
Most programs cap household income. CHFA limits vary by Colorado county (typically $140K-$170K). metroDPA goes higher (around $176K in Denver). CHAC limits are lower (80% Area Median Income).
Credit Score Minimum
620 FICO covers most CHFA programs and CHAC. metroDPA requires 640. If your score is lower, we’ll show you a 60-90 day path to qualifying.
First-Time Buyer? Not Always Required
CHFA and metroDPA work for first-time AND repeat buyers in most cases. CHAC requires first-time status (no homeownership in the past 3 years). FHA-backed programs may have their own first-time language.
Purchase Price Limits
Each program caps the maximum purchase price. CHFA’s limits track the FHFA loan limit (2026: $806,000 in most Colorado counties — higher in mountain counties). metroDPA and CHAC have their own caps. We’ll match your target price to the right program.
Homebuyer Education Required
Most DPA programs require 8 hours of HUD-approved homebuyer education. Free or low cost, available online from CHFA-approved providers. Plan one evening, you’ll knock it out.
Down Payment Assistance · Colorado
See What You Qualify For — Before You Tour A Single House
DPA only works if the numbers work. Run your scenario through the Forge mortgage calculator to see your monthly payment with assistance baked in. Then book a 20-minute call with a Forge mortgage broker to confirm which programs you qualify for.
COMMON QUESTIONS
Common Questions About Colorado Down Payment Assistance
The questions Forge hears most often, with straight answers. Don’t see your question? Schedule a 20-minute call and we’ll dig into your situation.
Do I have to be a first-time home buyer?
Not always. CHFA's Grant, Second Mortgage, and metroDPA all accept repeat buyers in most cases. CHAC requires first-time status (defined as no homeownership in the past 3 years). If you're a repeat buyer, you still have options.
What's the catch with DPA programs?
There isn't one for grants — you keep the money as long as you live in the home. Second mortgages and forgivable loans have repayment or forgiveness schedules, which we'll walk through. The biggest 'catch' is funding availability — programs like metroDPA open and close based on city allocations, so timing matters.
Do I have to pay the assistance back?
Depends on the structure. CHFA Grant and metroDPA grants don't have to be paid back. CHFA Second Mortgages are 0% interest and deferred — you pay them off when you sell, refinance, or pay off the first mortgage. Forgivable loans get erased over 5-10 years if you stay in the home.
How long does the DPA process add to my closing timeline?
Typically 5-10 extra days versus a non-DPA loan. CHFA and metroDPA have their own underwriting layers, and your homebuyer education needs to be done before closing. Forge handles the coordination — most DPA-backed closings still close in 35-45 days from contract to keys.
What credit score do I need?
620 covers most CHFA programs and CHAC. metroDPA requires 640. Some Conventional DPA pairings want 660+. If your score is below 620, we'll show you a 60-90 day improvement plan and pre-qualify you once you're in range.
REAL CLIENT REVIEWS
What Colorado Homeowners Say
Ready When You Are
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Schedule your free 30-minute consultation. We’ll review your credit, income, and goals — and map you to the right loan and DPA program. No pressure, no obligation.