What it is, who qualifies, and how it makes buying possible sooner than most renters think. Last reviewed August 24, 2026.
Help — usually a grant or a second mortgage — that covers some or all of your down payment, and sometimes closing costs. In Colorado it comes mainly through CHFA (the Colorado Housing and Finance Authority) and, in the Denver metro, metroDPA.
It pairs with a first mortgage (FHA, VA, USDA, or conventional). It's the piece most renters have never heard of — and it's often what closes the gap between renting and owning. Subject to eligibility and availability.
It varies by program, but common requirements are: under an income limit, under a purchase-price limit, a minimum credit score, a homebuyer education course, and using the home as your primary residence.
You don't always have to be a first-time buyer. Limits change over time and by county, so eligibility has to be confirmed for your specific numbers.
Depends on the structure. Some assistance is a grant you never repay; some is a second mortgage repaid when you sell or refinance, or gradually.
Which one applies depends on the exact program — worth understanding up front so there are no surprises later.
Yes — DPA is built to pair with a first mortgage (FHA, conventional, USDA, and in some cases VA).
Since VA already allows zero down, assistance is most often paired with FHA or conventional loans to cut the cash you bring to closing.
It varies — usually a percentage of the loan or a dollar cap, not one fixed number. In practice it can cover a meaningful share of what you need.
Exact figures depend on the program and your loan and change over time, which is why a quick eligibility check beats guessing.
The program details on this page come from the administering agencies. Program terms change — always confirm current figures directly with the source.
About the author. Scott Smith is a licensed mortgage loan officer with Citywide Home Mortgage (NMLS #2244351; Company NMLS #2611) and a HomeSmart real estate agent, helping Colorado renters use down payment assistance to buy. Free eligibility check at smithapprovesme.com.
Educational only; not financial, legal, or tax advice, and not a commitment to lend. Down payment assistance programs are subject to income and purchase-price limits, minimum credit, homebuyer education, primary-residence use, program availability, and change over time. Program names (CHFA, metroDPA) are referenced for education and are administered by their respective agencies. Scott Smith, NMLS #2244351 | Citywide Home Mortgage, NMLS #2611 | Equal Housing Lender.