Down Payment Assistance Programs

Lower Your Down Payment on a First-Time Home Purchase

Get Help Toward Down Payment and Closing Costs

Homebuyers using one of our first mortgage loan programs to finance their home purchase are eligible to use CHFA assistance options to help with down payment and/or closing costs. Even if you contribute towards a down payment, you may still use one of the options below.

Down Payment Assistance Grant

  • Non-repayable grant available for up to 4% of the home purchase price (Example: Get up to $12,000 on a $300,000 mortgage)
  • If you haven’t owned a home in the past three years, qualified buyers can purchase a home with as little as $1,000 down and receive up to 4% for assistance toward down payment and closing costs.

Second Mortgage Loan

  • Up to 5 percent of the home purchase price
    (Example: Get up to $15,000 on a $300,000 mortgage)
  • Repayment of loan balance deferred until certain events, such as payoff of your first mortgage, or the sale or refinance of the home.
  • Zero-percent silent second, no monthly payments required, no accrued interest. Second must be paid in full upon sale, refinance, or if property is no longer the borrower’s primary residence.

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What Are the Eligibility Requirements for Down Payment Assistance Programs?

For Buyers

Statewide income limits. In Colorado, these down payment assistance options require a statewide income limit of $115,600, regardless of county, targeted or non-targeted area, or household size. This restriction applies to all counties statewide across Colorado. Programs are available nationwide and income limits may vary in other states.

Homebuyer education. CHFA requires all borrowers and co-borrowers to individually complete an online or classroom-based CHFA-approved Education homebuyer education course provided by a CHFA-approved provider, prior to the closing date.

First-time homebuyer status. Borrowers must be first-time homebuyers or qualified veterans. Keep in mind that first-time homebuyers are defined as someone who has not owned a home in three years, so if you’ve been renting for the past four years, you’re a first-time homebuyer again!

Required money down. A minimum financial investment of $1,000 is required from the homebuyer to go toward the purchase of the home.

For the Home

Must be your primary residence. Investors need not apply. The home must be occupied as a primary residence in order to qualify. Programs are eligible for single-family, one unit, attached, and detached homes; attached and detached Planned Unit Developments (PUDs); condominiums; and manufactured housing on a permanent foundation. homes, town homes and condos.

Home sales price. In Colorado, the maximum loan limit for all mortgage loans is the lower of $453,100 or the amount determined by the applicable FHA, VA, or USDA-RD guidelines.

Programs available everywhere. Many homebuyers mistakenly believe down payment programs are available only in certain areas. In fact, down payment assistance programs are available in every community across the country and often for homes at price ranges above the median sales price for a given area.

Reviews for Mile High Loan Team

  • Our experience with Bobby Kurpinsky was great. Everyone was so helpful and everything was always done in a timely manner.

    – Jara J.

  • Great experience working with Bobby, very helpful and knowledgeable and patience for what we had to go though with some bumps on the road. All in all was great and will be forever grateful.

    – Reyna F.

  • Bobby is an excellent and professional person to work with. He made the whole process very easy.

    – Leticia S.

  • Bobby – All of the service that you provided to me exceeded my expectation. My realtor was right when she said that you were the best in the mortgage industry. All of you were so patient with me in the process. You guys were a great team helping me reach my goal. All my requests and concerns were explained to me promptly. You guys are knowledgeable. I would refer you to anyone that is looking to buy a home in a heartbeat. Thank you and God bless you guys you are the best.

    – Glenda R.

  • Bobby was amazing. Bobby was always in touch with me and always responded right away to any questions I had. He never made me feel like I was a bother, even though I had so many questions. He made the loan process so smooth. I highly recommend him.

    – Brandon W.

  • Bobby was excellent, very helpful with the entire process. I felt important and valued as a client. He answered every question and made buying our home so much easier than anticipated. I would recommend him to everyone I know.

    – Julie F.

  • Bobby was very responsive and patient with my numerous questions as a first time home buyer.

    – Kelsey R.

  • Bobby, I want to Thank you for being understanding throughout this process. I appreciate the great customer service and your availability.

    – Olga Z.

  • Bobby Kurpinsky and his staff were available to assist me through every step of financing a new home. The pre approval could not have been easier using the online app. The closing was complicated on two levels. The first being IRS changes on their web site making obtaining tax transcripts more difficult and time consuming. My mortgage was an out of state loan and I was traveling on the closing date. Mr Kurpinsky made it all happen and the money transferred without a hitch.

    – Linda G.

  • Bobby did a great job figuring out exactly what I was looking to do and was able to give me a couple options that could’ve fit- I was able to even do a lower term with equal payments.

    – Jacob F.

  • Buying a home is a very stressful event in one’s life. I have had many events this last few months and from the very first contact I felt very confident and excited with my decision in using Mr. Kurpinsky. Every step of the way was a positive experience, even during a few last minute bumps in the road.

    – Sara A.

  • Bobby Kurpinsky was very helpful and communicative throughout the entire process. I was surprised how much they cared about the customer there needs compared to other lenders I attempted to work with before switching to Bobby. I feel that my wife and I were well taken care of during this process and we were finally able to get a home.

    – Andrew G.

  • My closing came down to the wire and Bobby was able to pull it all off so that we could close that following work day. So relieved!

    – Jocelyn P.

  • Excellent people, very professional, helpful in every aspect. If I will have to go over this process again, I will definitely choose them again.

    – Arturo M.

  • Bobby has been the go to guy for myself, family and friends for our homes and rental properties.

    – Marc S.

Mile High Mortgage Group Top CHFA Lender in Colorado

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