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First Time Home Buyer Grants

Probing for Colorado first time home buyer grants available to purchase a home? Find the best grants, programs for home buying in Colorado and other down payment assistance below. 

Purchasing a home in any state is an exciting prospect especially in Colorado!

Exciting and sometimes daunting! However, don't let yourself become consumed with the process.

It is my plan to give you some useful information in this article about first time home buyer grants which will help you with this exciting and much sought after accomplishment.

Anyone would love to have a pile of money handed to them to purchase their first home!

If you would like help navigating the home buying process, which includes finding a grant; searching for that perfect home or even selecting the right mortgage, click here and fill out the questionnaire for some free coaching and let's get this process started!

colorado first time home buyer grants

Colorado Grants and Programs for Home Buying

To begin with, the State of Colorado does offer Colorado first time home buyer grants program for its residents. This is good news because not all states are able to offer assistance to first time home buyers.

One is called the "CHFA DPA Grant" which offers a maximum of 4% to put toward the down payment and closing costs. The reason this is considered a grant is you don't have to pay it back. Pretty awesome! Of course there are always restrictions and requirements you'll have to look into to see if this is something you want to consider. 

Another program to help with the down payment which is a second mortgage program. You can get up to 5% of your first mortgage to help with the down payment and closing costs. This is considered a deferred loan. That means the loan balance is deferred until you sell your home or refinance it or pay off the first mortgage. So its not really a grant, but depending on your situation, it can be very helpful. 

There are other cool loan programs available to assist you. For example, the "CHFA FirstStep" program has a great interest rate. There are some income and price limit requirements you must meet to qualify as well as a credit score requirement. You also are required to put $1,000 toward the purchase of the home. Be sure to investigate the limitations associated with this process so you won't experience any surprises. Additionally a "CHFA FirstStep Plus" program can be used. It is actually a second that has a zero interest rate to be used for the down payment and closing costs. Worth checking out the requirements for it as well.

Another loan program you may want to look into is "CHFA HomeOpener and CHFA HomeOpener Plus." This program is a two step process in order to get assistance for the down payment and closing costs. The second step has two choices, either a grant can be used or a zero percent second mortgage for down payment assistance. Once again there are requirements to qualify and limitations you should be familiar with.

Further the "CHFA Advantage" and the "CHFA Preferred" programs are great. There is a 3% down requirement but they will allow a "gift" to be used for it. What is meant by a gift? Well, perhaps you have parents who are willing to give you the 3% down payment requirement, this program will allow such a gift. That can be really helpful for some.

You may want to consider the "CHFA SmartStep" program. It has a low interest rate and a mortgage credit certificate associated with it. That means you may have a tax credit to apply on your taxes. It always better to put more money in your pocket right!

If you're dealing with disabilities or have a child with disabilities, this state offers a special program "CHFA HomeAcess" to help you get a home. 

With all programs you will want to familiarize yourself with their requirements and limitations to see if it is really a good fit for you. But you will have to admit, this state offers a lot for their residents!

If you would like to investigate these programs, click here.

Federal Home Mortgage Grants

Additional good news is that the federal government also offers  grant assistance for first time home buyers in Colorado. This program is maintained by the United States Department of Housing and Urban Development and is called the Homes and Communities program.

Their website contains useful information and applications. The website for the grant program maintained by the United States Department of Housing and Urban Development can be visited by using this link, HUD Grant Information.

Additional Home Buying Grants

Another website I would recommend that you view is Visit the Government Grants. This website offers a list of all federal government grant programs. It would be a good idea to take some time and browse through this site to see what it offers and the qualifications for application.

It is important to note that there are a plethora of local Colorado first time home buyer grants available from specific counties and organizations in this state.

If you need help estimating your mortgage closing costs, check out this FREE closing costs calculator by clicking here.

Perhaps a grant is not available in your state. Or you do not qualify for one. Don't get discouraged. If you still want to save money, check out this page that discusses the zero down payment program.

So have you found a home? Are you thinking about getting qualified for a mortgage? Maybe you want to visit our page on how to qualify for a mortgage.

Would you like some help? Perhaps a personal coach to guide you through the process is what you're looking for. For free coaching, fill out the questionnaire here. Then you will be contacted and offered the assistance you seek.

Would you like to know what type of loans are available? Visit our Home Mortgage Information page for tons of information on all kinds of loans. Learn about FHA, VA, and various other types of options.

More Colorado First Time Home Buyer Grants Support

Thank you for visiting our website for first time home buyers. Below you'll find more information to help you with grants for housing.

Click here for additional information on Colorado First Time Home Buyer Grants.

This link will take you to the HUD website and you will see a map of the USA. Click on your state and then you'll find a list of the local counseling agencies in your own area.

Please tell others about this FREE information. Everybody else on the web charges for this kind of stuff!!

Leave Colorado First Time Home Buyer Grants and return to the State Lists main page.

Go to House Buyer Solutions Home Page.

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