Colorado Grants
There are many grants available in this State to assist a home buyer
purchase a home. By using these grants it makes it possible to purchase a home
with little or no money down.
Below is a list of some of the grants available, as well as contact information for each. Some are State sponsored grants. Some are sponsored on the county or municipality level.
Understand that many of these grants have limited funding, and most have income restrictions, so it is important to work with your mortgage lender and the non profit administering the grant program to ensure availability of funds.
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State Sponsored |
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Bank Sponsored Matching Funds Programs |
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Community/local Sponsored Grants |
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Seller Funded Down Payment Assistance Programs |
State Sponsored
The State of Colorado offers down payment assistance grants of up to $10,000 directly to home buyers through The Colorado Housing Assistance Corp. They also support local community grants. See the Community / local grant section of this page. Below is a link to the CHAC web site:
http://www.coloradohousingassistance.org/homebuyer.html
Bank Sponsored Matching Funds Programs
Banks that are members of the Federal Home Loan Banking system also offer IDA savings accounts. Visit the Regional Federal Home Loan Bank web site for more information.
Community/local Sponsored Grants
Arapahoe County Home Ownership Program (HOP)
(303) 738-8065
Aurora Home Ownership Assistance Program (HOAP)
(303) 360-0053
Colorado Housing Assistance Corporation Creating Affordability Now 65% to 80% AMI Down Payment Program (CAN)
(303) 572-9445
Colorado Housing Assistance Corporation Creating Affordability Now Below 65% AMI Down Payment Program (CAN)
(303) 572-9445
Colorado Housing Assistance Corporation Downpayment Assistance Disability Program (DAP)
(303) 572-9445
Colorado Housing Assistance Corporation Federal Home Loan Bank Program (FHLB)
(303) 572-9445
Colorado Housing Assistance Corporation Mortgage Assistance Program (MAP)
(303) 572-9445
Colorado Springs Affordable Homeownership Program (AHP) (719) 387-6714
Del Norte Neighborhood Development Corporation Savings Plus Individual
Development Account Collaborative (IDA)
(303) 477-4774
Denver City and County - Newsed Community Development Corporation Barrio
Aztlan Homeownership Program (HAP)
(303) 534-8342
Denver County Colorado Housing Assistance Corporation (CHAC) Barrio Azatlan
Home Ownership Program (BAHOP)
(303) 572-9445
Denver Del Norte Neighborhood Development Corporation Barrio Aztlan Home Ownership Program (HOP)
(303) 477-4774
Eagle County Downpayment Assistance Program (DAP)
(970) 328-8771
Eagle County Downpayment Assistance Program (DAP) Monthly Interest Payback
(970) 328-8771
Eagle County Downpayment Assistance Program (DAP) Property Appreciation
(970) 328-8771
Fort Collins First Time Home Buyer Grants Program
(970) 221-6595
Glenwood Springs Board of Realtors Affordable Housing Fund (AHF) (970) 945-9762
Jefferson County Stride Home Ownership Program (HOP)
(303) 275-3450
Larimer County Home Ownership Program (LHOP)
(970) 667-3232
Longmont/Boulder County Down Payment Assistance Program (DPA)
(303) 441-3987
Multi Counties West Central Housing Development Organization Regional Ownership Assistance Down Payment Program (ROAD)
(970) 874-8204
Multi-Counties Del Norte Neighborhood Development Corporation Savings Plus Individual Development Account (IDA)
(303) 477-4774
Northeast Colorado Housing Inc. Homeownership Down Payment Assistance Program
(970) 542-0955
Pueblo County HOME Down payment Assistance Program (HDAP)
(719) 584-0817
Pueblo Neighborhood Housing Services Repayable 2nd Mortgage Program (SMP)
(719) 544-8078
San Miguel County- San Miguel Regional Housing Authority Down Payment & Closing Cost Assistance Program (DPCC)
(970) 728-3034
Summit County - Town of Dillon Employer Assisted Housing Program (EAHP)
(970) 468-2403
Summit County Down Payment Assistance Program (DPA)
(970) 453-3557
Summit County Employee Housing Assistance Program (EHAP)
(970) 453-3404
Summit County Summit Housing Authority Downpayment Assistance Program
(970) 453-3557
Weld County, High Plains Housing Development Corporation Downpayment / Closing Cost Assistance Program (DAP)
(970) 352-1551
Seller Funded Down Payment Assistance Programs
There are several non profit organizations that allow a seller to “donate” funds to them at closing, which is then given to the buyer as a down payment assistance grant. Presently, the federal government is reviewing these programs to determine whether this practice is an acceptable lending practice. By using one of these programs it is possible to purchase a home with little or no money. The seller needs to be a motivated seller, and the home needs to be priced correctly. Usually the sales price is inflated to cover the “donation”. The home must be able to appraise at the inflated price. These programs are initiated by the lender, so it is important to work with a local lender before you start looking for a home. The lender will also know how present legislation is affecting the program. The two most commonly used programs are The American Dream DAP and The Nehemiah DAP. Below are links to their web site.
American Dream: http://www.americandreamdownpaymentassistance.com/dpa_app.cfm
Nehemiah Corp:
http://www.nehemiahcorp.org/
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