Did you know that the State of CO provides free money to help many prospective homeowner’s with the down payment on their new homes? The program is administered through the Colorado Housing and Finance Authority and is worth looking into if you meet the income requirements. Here is some information on this program as of May 2025 but please check their website for the most up to date information as these loan programs often change:
Down Payment Assistance Grant*
- Up to the lesser of $25,000 or 3 percent of your first mortgage**
(Example: Get up to $6,000 on a $200,000 mortgage) - No repayment required
Second Mortgage Loan*
- Up to the lesser of $25,000 or 4 percent of your first mortgage**
(Example: Get up to $8,000 on a $200,000 mortgage) - Individuals living with a permanent disability or first-generation homebuyers can access specific programs offering up to $25,000 regardless of first mortgage amount**
- Repayment of loan balance deferred until certain events, such as payoff of your first mortgage, or the sale or refinance of the home, or the home is no longer your primary residence.
**For a 30-year, fixed-rate loan
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