Bootcamp For Buyers

First Time Homebuyer Programs in Colorado

Colorado offers several programs through the Colorado Housing and Finance Authority (CHFA) to help first-time homebuyers make their dreams of homeownership a reality. These programs provide financial assistance, competitive loan options, and educational resources.

CHFA FirstStep Loan Program

The FirstStep Loan Program is designed for first-time homebuyers using FHA-insured loans.

  • Offers a 30-year fixed-rate mortgage with competitive interest rates.
  • Income and purchase price limits apply, based on county and household size.
  • Requires a minimum credit score of 620.

CHFA Down Payment Assistance Grant

The Down Payment Assistance Grant provides financial support to cover upfront homebuying costs.

  • Grants of up to 4% of the first mortgage loan amount are available.
  • No repayment required, making it a true grant.
  • Can be combined with CHFA loan programs for maximum affordability.

CHFA SmartStep Plus Program

The SmartStep Plus Program combines a low-interest loan with down payment and closing cost assistance.

  • Includes a second mortgage loan for up to 5% of the first mortgage amount.
  • Flexible income and credit requirements.
  • Requires completion of a homebuyer education course.

Colorado’s first-time homebuyer programs are tailored to provide the financial tools and guidance you need to make your homeownership journey smooth and successful.