--- title: "Colorado First-Time Home Buyer Programs 2026 — CHFA, DPA & Real Costs | Ownify" description: "Colorado's median home is $547,300. CHFA offers a 3% grant or 4% second mortgage, Denver's metroDPA up to 5% forgivable. Here's every program, what you qualify for, and what it really costs." lang: en json-ld: | [ { "@context": "https://schema.org", "@type": "Organization", "@id": "https://ownify.com/#organization", "name": "Ownify", "alternateName": "Ownify Homeownership", "url": "https://ownify.com/", "logo": "https://ownify.com/favicon.png", "description": "Ownify is a fractional homeownership platform that helps first-time homebuyers buy a real home with as little as 2% down by partnering with long-term capital investors. Active in Colorado, North Carolina, and Tennessee.", "foundingDate": "2022", "areaServed": [ { "@type": "State", "name": "Colorado" }, { "@type": "State", "name": "North Carolina" }, { "@type": "State", "name": "Tennessee" } ], "sameAs": [ "https://www.linkedin.com/company/ownify", "https://x.com/ownifyhome", "https://www.facebook.com/ownifyhome", "https://www.instagram.com/ownifyhome", "https://www.youtube.com/@ownify" ], "contactPoint": { "@type": "ContactPoint", "contactType": "customer support", "url": "https://ownify.com/contact", "areaServed": [ "US-CO", "US-NC", "US-TN" ], "availableLanguage": "English" } }, { "@context": "https://schema.org", "@type": "WebSite", "@id": "https://ownify.com/#website", "url": "https://ownify.com/", "name": "Ownify", "publisher": { "@id": "https://ownify.com/#organization" }, "inLanguage": "en-US" }, { "@context": "https://schema.org", "@type": "Article", "headline": "Colorado First-Time Home Buyer Programs: What You Actually Qualify For in 2026", "description": "Every Colorado first-time buyer program — CHFA FirstStep, Preferred and HomeAccess, metroDPA, Turnkey Plus, Aurora HOAP, NeighborhoodLIFT and CHAC — with the income limits, price caps, credit floors and real cash-to-close numbers.", "url": "https://ownify.com/colorado-first-time-home-buyer", "mainEntityOfPage": { "@type": "WebPage", "@id": "https://ownify.com/colorado-first-time-home-buyer" }, "datePublished": "2026-08-02", "dateModified": "2026-08-02", "author": { "@type": "Person", "name": "Frank Rohde", "jobTitle": "Founder & CEO", "worksFor": { "@type": "Organization", "name": "Ownify", "url": "https://ownify.com" }, "hasCredential": [ { "@type": "EducationalOccupationalCredential", "credentialCategory": "license", "name": "Mortgage Loan Originator", "identifier": "NMLS #2723220" } ], "sameAs": [ "https://www.ted.com/talks/frank_rohde_a_new_way_to_buy_your_first_home", "https://www.linkedin.com/in/frankrohde/" ] }, "publisher": { "@type": "Organization", "name": "Ownify", "url": "https://ownify.com", "logo": { "@type": "ImageObject", "url": "https://ownify.com/logo.png" } }, "about": [ { "@type": "Place", "name": "Colorado" }, { "@type": "Thing", "name": "Colorado Housing and Finance Authority" }, { "@type": "Thing", "name": "Down payment assistance" }, { "@type": "Thing", "name": "First-time homebuyer" } ] }, { "@context": "https://schema.org", "@type": "BreadcrumbList", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://ownify.com/" }, { "@type": "ListItem", "position": 2, "name": "Markets", "item": "https://ownify.com/markets" }, { "@type": "ListItem", "position": 3, "name": "Colorado", "item": "https://ownify.com/markets/colorado" }, { "@type": "ListItem", "position": 4, "name": "Colorado First-Time Home Buyer Programs", "item": "https://ownify.com/colorado-first-time-home-buyer" } ] } ] --- We use essential cookies to make our site work. 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You can change your cookie settings at any time by clicking “Preferences .” Accept [![Ownify](/assets/ownify-logo-color-B9tRH5I9.png)](/) [Homebuyers](/homebuyers) [Investors](/investors) [Agents](/agents) [Markets](/markets) [Research](/research/ownify-university) [Blog](/blog) [About](/about) [Sign in](https://app.ownify.com/auth/magic/request?__hstc=53035703.0efd79b28d63a431aafcba3d0834e856.1787187584637.1787187584637.1787187584637.1&__hssc=53035703.1.1787187584637&__hsfp=459a5155cbd50c6758f41a978f891916)[Get started](https://app.ownify.com/applications/new?__hstc=53035703.0efd79b28d63a431aafcba3d0834e856.1787187584637.1787187584637.1787187584637.1&__hssc=53035703.1.1787187584637&__hsfp=459a5155cbd50c6758f41a978f891916) Colorado · First-time buyers # Colorado First-Time Home Buyer Programs: What You Actually Qualify For in 2026 Quick answer Colorado's main first-time buyer program is **CHFA**: the Colorado Housing and Finance Authority. It offers 30-year fixed mortgages paired with either a **down payment assistance grant of up to 3%** of your loan or a **second mortgage of up to 4%**. Denver, Colorado Springs and Aurora each run additional local programs on top. ![Colorado Front Range foothills behind a residential neighborhood of first-time-buyer homes](/assets/colorado-hero-BhFOWXiT.jpg) Colorado ## CHFA, metroDPA and every program in between [Check your eligibility](/homebuyers/eligibility) I'm a licensed Mortgage Loan Originator. Colorado has more first-time buyer assistance than almost any state, and most buyers I talk to have heard of none of it beyond the name CHFA. This page is every program I'd check for you, what each is actually worth, and where the limits bite. Eligibility ## Who counts as a first-time home buyer in Colorado? Broader than most people assume. For CHFA and most Colorado programs, a first-time buyer is anyone who **hasn't owned a primary residence in the past three years**. Owning a home five years ago doesn't disqualify you. Neither does owning a rental you never lived in, in most cases. Two important exceptions widen it further. **Qualified veterans** are frequently exempt from the first-time requirement entirely. And in **targeted areas** — specific census tracts CHFA designates — the first-time requirement is often waived for everyone. If you assumed you were ineligible, [check before you rule yourself out](/homebuyers/eligibility). The state program ## What is CHFA, and what does it actually offer? The Colorado Housing and Finance Authority is a state-chartered organisation that doesn't lend directly to you — it works through approved participating lenders. You apply with a lender; CHFA supplies the loan program and the assistance. There are three loan families, and the one you use determines what assistance you can pair with it. ### CHFA FirstStep and FirstStep Plus A 30-year fixed **FHA** mortgage for first-time buyers and qualified veterans. Credit minimum is **620**, though **580 may be possible through an approved lender**. Built for low-to-moderate income buyers in your area. ### CHFA Preferred and Preferred Plus A 30-year fixed **conventional** loan. The distinguishing feature is a **minimum borrower contribution of just $1,000 — and that $1,000 can be a gift**. Preferred Plus adds a **second mortgage of up to 4% of your first mortgage amount**. Credit minimum **620**. Income and purchase price limits apply, and a CHFA-approved homebuyer education course is required. ### CHFA HomeAccess and HomeAccess Plus For first-time buyers and qualified veterans **living with a permanent disability**, or those who are the parent or guardian of a dependent with one. HomeAccess Plus adds an optional **$25,000 second mortgage**. This is one of the most generous disability-linked homebuying programs in the country and it is badly under-used. Assistance ## How much down payment assistance can you get in Colorado? CHFA offers two forms and you choose one: CHFA down payment assistance grant versus second mortgage Type Amount Repayment DPA Grant Up to 3% of your mortgage amount Never repaid DPA Second Mortgage Up to 4% of your first mortgage Repaid on sale, refinance, or payoff The grant is smaller but free. The second mortgage is larger but sits on your title until you sell or refinance. On a Colorado median-priced home the difference is roughly $5,000 in additional help versus a lien you'll settle later. ### Local programs stack on top Local Colorado down payment assistance programs by area, amount and structure Program Area Amount Structure metroDPA Denver Up to 5% of loan amount 0% interest, forgiven if you stay 3 years El Paso County Turnkey Plus Colorado Springs Up to 5% of loan value 0% interest, no monthly payments; half forgiven over 5 years, remainder at payoff Aurora Home Ownership Assistance Aurora Up to $10,000 or the minimum required down payment, whichever is less “Silent” loan — 0% interest, no payments, not forgivable; repaid on sale, move, or refinance NeighborhoodLIFT Adams, Arapahoe, Denver, Douglas, Jefferson counties $15,000 Education required CHAC (Colorado Housing Assistance Corporation) Statewide Second mortgage Monthly payments required; $1,000 minimum contribution that cannot be a gift ($750 for the disability program) Read the Aurora row carefully. Its assistance is a silent loan that is not forgiven — you repay it in full whenever you sell, move or refinance. That's still useful money, but it's a deferred debt, not a gift, and the marketing rarely makes that distinction clear. Denver's metroDPA is the standout: 5% of your loan, zero interest, and fully forgiven after three years of living there. We break the city-by-city picture down further in our [down payment assistance guide](/research/down-payment-assistance). The limits ## What are the CHFA income and purchase price limits? This is where most Colorado buyers rule themselves out incorrectly. The limits are far more generous than people assume, and most CHFA programs have no purchase price cap at all. ### Most CHFA programs: one income limit, no price cap **SmartStep**, **Preferred**, **HomeAccess**, **Schools to Home** and Section Eight programs all use a single income limit of $178,920 — regardless of household size, regardless of county — and carry no purchase price limit. That's the sentence worth re-reading. If you're using SmartStep or Preferred, there is no maximum house price, and a household earning under $178,920 qualifies anywhere in Colorado. That covers the overwhelming majority of first-time buyers in this state. ### FirstStep and FirstGeneration: county limits apply Only the FirstStep and FirstGeneration programs use county-level income and purchase price limits. Here they are for the counties covering [Ownify's Colorado markets](/markets/colorado): CHFA FirstStep and FirstGeneration income and purchase price limits by Colorado county County Markets Income limit, 1–2 person Income limit, 3+ person Purchase price limit Denver Denver $172,800 $201,600 $832,750 Jefferson Lakewood, Arvada $172,800 $201,600 $832,750 Arapahoe Aurora, Centennial $172,800 $201,600 $832,750 Adams Westminster, Thornton $172,800 $201,600 $832,750 Boulder Boulder, Longmont $150,000 $172,500 $832,750 Broomfield — $144,000 $165,600 $832,750 Douglas — $144,000 $165,600 $832,750 Larimer Fort Collins $156,480 $182,560 $811,790 Weld Greeley $153,600 $179,200 $735,320 El Paso Colorado Springs $153,360 $178,920 $692,670 Pueblo Pueblo $153,360 $178,920 $692,210 _Effective for new loan locks on or after June 15, 2026. Income limits rose about 2.6% and purchase price limits about 2.3% from the prior schedule — if you were quoted the old numbers, you may qualify now when you didn't before._ ### Put those numbers against the market Colorado's median sold price in April 2026 was **$547,300**. Every single county limit above clears it: - Denver metro's **$832,750** cap is **52% above** the state median - Even Pueblo's **$692,210** — the lowest on the list — is **26% above** it The purchase price cap is **not what's stopping you**. In the Denver metro you could buy a home at $800,000 and remain inside the FirstStep limit. ### So what actually disqualifies people? Three things, in order of how often I see them: **Income above the county limit.** This is the real constraint, and it counts **all** household income — not only the people on the loan. A working adult child or a live-in partner not on the mortgage still counts. Check this before assuming anything. **The VLIP tier, if you're aiming at it.** CHFA Preferred VLIP — the very-low-income program — uses a much lower threshold: **$72,000 in Denver County, $43,850 in Pueblo.** That's a genuinely restrictive program, and it's a different product from standard Preferred. Don't confuse the two; people see $72,000, assume it applies to all of CHFA, and walk away. **Credit below 620.** More often the binding constraint than income, and often a months-not-years fix. ### The practical takeaway If your household earns under roughly **$150,000** and you're buying under **$690,000**, you are inside CHFA's limits in every county Ownify serves. If you're using SmartStep or Preferred, there's no price cap to clear at all. Most people who tell me they "don't qualify for CHFA" have never checked the actual numbers. [Check your eligibility](/homebuyers/eligibility)[Verify current limits at chfainfo.com](https://www.chfainfo.com/) Credit ## What credit score do you need for CHFA? Minimum credit score by Colorado first-time buyer program Program Minimum CHFA FirstStep (FHA) 620, possibly 580 via an approved lender CHFA Preferred (conventional) 620 CHFA HomeAccess Standard CHFA requirements Ownify fractional ownership 660 If you're at 580+, that's usually a months-not-years problem. Clearing a collections account or reducing a card below 30% utilisation often moves a score enough to qualify. Talk to a lender before assuming you need to wait a year. The numbers ## How much do you need to buy a house in Colorado? Colorado's median sold price was **$547,300** as of April 2026, down 0.83% year over year. Here's what each path requires: Cash required on Colorado's $547,300 median home by financing path Path Cash required on $547,300 Conventional 20% $109,460 FHA 3.5% $19,156 Conventional 3% (first-time buyer) $16,419 CHFA Preferred $1,000 minimum contribution Ownify fractional, 2% $10,946 Add closing costs of roughly 2–5% — another $11,000 to $27,000 on a median home — which is the number that surprises people. Several of the programs above cover closing costs as well as down payment. **The key arithmetic:** CHFA's 3% grant on an FHA loan of roughly $528,000 is about **$15,800** — against an FHA down payment requirement of **$19,156**. The grant covers roughly 83% of it. Pair CHFA with Denver's metroDPA at 5% and your out-of-pocket down payment can reach zero. That is the single most useful fact on this page and almost nobody in Colorado knows it. If you're starting from nothing saved, our guide to [no down payment home loans](/no-down-payment-home-loans) covers the VA and USDA routes that skip the down payment entirely. Market data ## What's changed in the Colorado market in 2026? It has shifted toward buyers, quietly. Colorado housing market metrics, April 2026 and year-over-year change Metric April 2026 Year over year Median sold price $547,300 −0.83% Median listing price $560,000 −2.34% Active listings 51,854 +8.43% Median days on market 46 +15% More inventory, slower sales, softening prices. For a first-time buyer that combination means negotiating room that didn't exist two years ago — and time to complete an assistance-backed purchase without losing the house to a cash offer, which was the practical reason CHFA buyers lost out during the frenzy. Our [Colorado market reports](/markets/colorado) break this down city by city. Source: Realtor.com Economic Research, April 2026. Alternatives ## What if you don't qualify for CHFA? The common disqualifiers are income above the county limit, a purchase price above the cap, or credit below 620. If that's you, the honest options are a straight FHA loan at 3.5% down, a conventional 3% program without assistance, or a fractional structure. If you've been looking at lease contracts instead, read our breakdown of [rent-to-own alternatives in Denver](/rent-to-own-alternative-denver-co) first. With **Ownify** you buy a share of the home with as little as **2% down** — about **$10,946** on Colorado's median — with investor capital covering the rest. You're on title as a partial owner from move-in and buy additional shares over roughly five years before transitioning to a traditional mortgage. Credit minimum is 660. Here's [how fractional ownership works](/fractional-ownership). To be direct: **if you qualify for CHFA, use CHFA.** A 3% grant you never repay beats what we offer, and we'll tell you that. Fractional ownership is for buyers CHFA's limits exclude. Side by side ## Comparing every Colorado path CHFA FirstStep with DPA grant, CHFA Preferred, Denver metroDPA and Ownify fractional ownership compared Feature CHFA FirstStep + DPA grant CHFA Preferred metroDPA (Denver) Ownify fractional Cash to close Often near $0 $1,000 minimum Stacks on CHFA ~$10,946 (2%) Loan type FHA 30-yr fixed Conventional 30-yr fixed Layers on a first mortgage Fractional purchase Assistance 3% grant or 4% second Up to 4% second (Plus) Up to 5%, forgiven at 3 years n/a Repaid? Grant: never Second: on sale/refi Forgiven after 3 years n/a Credit minimum 620 (580 possible) 620 Per first mortgage 660 Income limit Yes, by county Yes, by county Yes No Price cap Yes, by county Yes, by county Yes $750k Education required Yes Yes Yes No Next steps ## How do you apply? 1. **Check the limits first.** Income and purchase price caps disqualify more people than credit does. Verify your county's numbers at chfainfo.com before anything else. 2. **Complete homebuyer education.** Nearly every program requires it and it takes time. Starting early removes it from your critical path. 3. **Work with a CHFA participating lender.** CHFA doesn't lend directly. Not every lender is approved, and not every approved lender offers every program. 4. **Get pre-qualified before you shop.** With 46 days on market and inventory up 8.43%, you have more room than buyers had recently — but sellers still prefer a buyer who's already underwritten. 5. **Ask specifically about stacking.** Whether you can layer metroDPA or a county program on top of CHFA is the single question that most changes your cash to close, and it's the one buyers forget to ask. [Check your eligibility](/homebuyers/eligibility)[Build my plan](/myplan)[Colorado down payment assistance by city](/research/down-payment-assistance) FAQ ## Frequently asked questions ### What is CHFA and how does it work? The Colorado Housing and Finance Authority is a state-chartered organisation offering 30-year fixed mortgages with down payment assistance to first-time and moderate-income buyers. It doesn't lend directly — you apply through a CHFA participating lender, who provides both the mortgage and the assistance. ### How much down payment assistance does CHFA give? Either a grant of up to 3% of your mortgage amount that is never repaid, or a second mortgage of up to 4% of your first mortgage, repaid when you sell, refinance or pay off the loan. You choose one. ### What credit score do you need for a CHFA loan? 620 for both FirstStep and Preferred, with 580 potentially available on FirstStep through an approved lender. ### Do you have to be a first-time buyer to use CHFA? Generally you must not have owned a primary residence in the last three years. Qualified veterans are often exempt, and the requirement is frequently waived entirely in CHFA-designated targeted areas. ### Can you combine CHFA with Denver's metroDPA? Programs are often stackable, and stacking is what gets Denver buyers to near-zero out of pocket. Confirm with your CHFA participating lender for your specific combination — this is the highest-value question you can ask them. ### How much do you need to buy a house in Colorado? On the $547,300 median: $109,460 at 20% down, $19,156 with FHA, $10,946 with Ownify's 2%, or as little as **$1,000** with CHFA Preferred. Add 2–5% for closing costs, some of which assistance programs also cover. Keep reading ## Related guides - [Down payment assistance by Colorado city](/research/down-payment-assistance) - [Denver rent-to-own alternatives](/rent-to-own-alternative-denver-co) - [No down payment home loans](/no-down-payment-home-loans) - [How fractional ownership works](/fractional-ownership) - [Colorado market data](/markets/colorado) ![Frank Rohde, Founder & CEO of Ownify](/assets/frank-rohde-DCfv89pU.png) Written by [Frank Rohde](/about), CEO Ownify Licensed Mortgage Loan Originator, NMLS #2723220 Last reviewed: August 2, 2026 Program terms, funding and eligibility change frequently — verify all figures with CHFA and the administering agency before relying on them. ### Sources - CHFA program structures, metroDPA, El Paso County Turnkey Plus, Aurora HOAP, NeighborhoodLIFT, CHAC — The Mortgage Reports, Colorado first-time buyer guide 2026. **Verify each against the administering agency.** - Colorado median sold price, listings, days on market — Realtor.com Economic Research via Norada, April 2026 ### Homebuyers - [How it works](/homebuyers/how-it-works) - [Are you eligible?](/homebuyers/eligibility) - [Build my plan](/myplan) - [Ownify vs. mortgage](/homebuyers/vs-mortgage) - [Ownify vs. rent-to-own](/how-rent-to-own-works) - [Detailed calculators](/homebuyers/detailed_calculators) - [Ownify Mortgage](/mortgage) ### Investors - [Why invest](/investors) - [Investor FAQ](/investors/faq) - [North Carolina Home Fund](/investors/north-carolina) - [Colorado Home Fund](/investors/colorado-home-fund) - [Become a partner](/investment-partner) ### Agents - [How it works](/agents/how-it-works) - [Agent benefits](/agents/benefits) - [Get accredited](/agents/accreditation) ### Markets - [Colorado](/markets/colorado) - [North Carolina](/markets/north-carolina) - [Tennessee](/markets/tennessee) - [California](/markets/california) - [All markets](/markets) ### Company - [About us](/about) - [Our impact](/research/our-impact) - [Ownify University](/research/ownify-university) - [Reviews](/reviews) - [Blog](/blog) - [Ownify Tools & Tech](/tech) [![Ownify](/assets/ownify-logo-reversed-CShwpfYm.png)](/) [Terms](/legal/terms)[Privacy](/legal/privacy)[Contact](/contact)[Consent Preferences](#)[Do Not Sell or Share My Personal Information](https://app.termly.io/notify/50967156-fd3e-48cb-95dc-98f33b36600a)[Limit the Use Of My Sensitive Personal Information](https://app.termly.io/notify/50967156-fd3e-48cb-95dc-98f33b36600a) © 2026 Ownify, Inc. All rights reserved. Equal Housing Opportunity. Fractional ownership investments are provided by Ownify, Inc., 548 Market Street #25841, San Francisco, CA 94104. Real Estate Brokerage services may be provided by Ownify Real Estate LLC, NCREC C36616. Mortgage broker and loan processing services are offered through Real-Finity Mortgage, LLC, dba Realfinity. NMLS #2445766 and #2723220. Real-Finity Mortgage, LLC is a licensed mortgage brokerage and maintains its corporate headquarters at 929 Alton Road Suite 500, Miami Beach, FL, 33139. ✕ - Hi, I'm Owen. I can build a personalized homeownership plan for you here: https://ownify.com/myplan