Ultimate Guide to Colorado Down Payment Assistance Guide 2025
This guide outlines Colorado first-time buyer and down payment assistance programs by credit score, including FHA and CHFA options. It explains types of assistance like repayable and silent second loans, and grants. It also highlights resources to understand loan types, income limits, and credit scores to help buyers get started
Available Programs by Credit Score & Features
| Credit Score | Loan Program | Loan Type | Type of Assistance | Income Limit | First-Time Buyer Requirement |
|---|---|---|---|---|---|
| Under 600 | None | ||||
| 600+ | FHA 100% Loan | FHA | Repayable Second | No Income Limit | No |
| 620+ | CHFAFirst-Generation&FirstGenerationPlus | FHA | Silent Second | See CHFA Income Limits | Yes |
| 620+ | CHFA Smart Step & Smart Step Plus | FHA | Silent Second / Grant | See CHFA Income Limits | No |
| 620+ | CHFA First Step & First Step Plus | FHA | Silent Second | See CHFA Income Limits | Yes |
| 700+ | CHFA Preferred & Preferred Plus | Conventional | Silent Second | See CHFA Income Limits | No |
Glossary
Types of Assistance
Repayable Second: A loan for your down payment requiring monthly payments.
Silent Second: A loan without interest or payments unless you sell or refinance in most cases.
Grant: Funds provided from day one, no repayment required.
Looking for a low down payment with better rates?
See our low down payment program guide here https://speakstraightmortgage.com/post/lowdownpaymentprograms
Get Clarity on what programs you can use. Schedule a meeting here https://links.empowerlo.com/widget/booking/t9otZCJe733FJR4INdfk
CHFA FIRST GENERATION
" placeholdertext="Custom HTML/CSS/JAVASCRIPT"> Custom HTML/CSS/JAVASCRIPTCHFA SMART STEP | SMART STEP PLUS
" placeholdertext="Custom HTML/CSS/JAVASCRIPT"> Custom HTML/CSS/JAVASCRIPTCHFA PREFFERED | PREFFERED PLUS
" placeholdertext="Custom HTML/CSS/JAVASCRIPT"> Custom HTML/CSS/JAVASCRIPTCHFA INCOME LIMITS 2024
" placeholdertext="Custom HTML/CSS/JAVASCRIPT"> Custom HTML/CSS/JAVASCRIPTQuestions about your situation?
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