Buying a home in Colorado comes with incredible lifestyle benefits, from mountain views to thriving city neighborhoods, but saving a down payment can slow buyers down. The Colorado Housing and Finance Authority (CHFA) offers a Down Payment Assistance Grant designed to help qualified buyers reduce upfront costs and move into homeownership sooner.
What This Program Offers:
- Up to $25,000 or 3% of the first mortgage loan amount.
- Structured as a true grant, no repayment is required.
- Can be used toward down payment and eligible closing costs.
- Must be paired with a CHFA first mortgage loan.
- Available for the purchase of a primary residence in Colorado.
Who This Program Is Designed For:
The CHFA Down Payment Assistance Grant is ideal for Colorado buyers who:
- Meet CHFA’s income and purchase price limits.
- Qualify for a CHFA first mortgage through a participating lender.
- Plan to occupy the property as their primary residence.
- Complete an approved homebuyer education course.
- Can contribute a minimum of $1,000 toward the purchase.
(First-time homebuyer status may be required, depending on the CHFA first mortgage product selected.)
Eligibility Snapshot:
- Must use a CHFA-Participating Lender.
- Homebuyer education is required before closing.
- Income and purchase price limits vary by county.
- $1,000 minimum borrower contribution required.
- Property must be owner-occupied.
Who Should Take Action:
Agents working with Colorado buyers who are income-qualified, but cash-constrained should evaluate this grant early in the buying process. Because this assistance does not require repayment, it can significantly reduce the financial barrier to entry and strengthen a buyer’s overall financing structure.
What to Do Next:
- Screen clients for income eligibility and CHFA loan qualifications.
- Connect them with a CHFA-Participating Lender.
- Ensure completion of required homebuyer education.
- Confirm buyer contribution and documentation readiness.
- Structure the offer with CHFA financing in place.
If this grant program does not align with your client’s qualifications, explore other Community Home Investment Programs (CHIPs) that you can check on Homebuyerwallet.com to identify the best alternative.
