What is metroDPA?
metroDPA is a down payment assistance* program for low and moderate-income individuals and families located around the Front Range area in Colorado.
They offer up to 5% of the loan amount to Colorado home buyers to put towards their down payment and closing costs.
Advantages of metroDPA:
- Up to 5% assistance as a 3-year forgivable, 2nd lien
- Great low rates
- Household income limit of $176,700
- Government and Conventional, 30-year fixed rate loans
- USDA assistance is in the form of a grant
- No first-time homebuyer requirement
- Large program area (List of eligible areas below)
General metroDPA Program Requirements:
- FHA, VA, USDA, and Conventional home loans
- Qualified borrowers with a credit score above 640 (down to 620 in some cases)
- Homebuyer education course required - HUD-approved or CHFA
- Must be the principal residence
- No purchase price limits (set by Agency guidelines)
- Buying a home in an approved area
Eligible metroDPA Areas:
Mortgage loans can only be made within the City and County of Denver and within the incorporated areas of Cities & Towns or the unincorporated areas of participating Counties (listed below):
metroDPA Approved Cities and Towns:
Arvada, Ault, Aurora, Bennett, Berthoud, Boulder, Brighton, Broomfield, Castle Rock, Centennial, Commerce City, Dacono, Deer Trail, Denver, Edgewater, Elizabeth, Englewood, Erie, Evans, Federal Heights, Firestone, Fort Collins, Frederick, Golden, Greeley, Johnstown, Keenesburg, Lakewood, Littleton, Lochbuie, Lone Tree, Longmont, Loveland, Mead, Northglenn, Parker, Platteville, Sheridan, Superior, Thornton, Timnath, Wellington, Westminster, Wheat Ridge, Windsor
metroDPA Approved Counties:
Adams County, Arapahoe County, Boulder County, Broomfield County, Denver County, Douglas County, Elbert County, Jefferson County, Larimer County
metroDPA Approved Unincorporated Counties:
Acequia, Acres Green, Adams City, Allenspark, Altona, Applewood, Aspen Park, Bark Ranch, Bellvue, Bergen Park, Bonanza Mountain Estates, Buckeye, Buffalo Creek, Byers, Campion, Canfield, Caribou, Castle Pines Village, Cherokee Park, Coal Creek Canyon, Columbine, Conifer, Crisman, Deckers, Drake, Dupont, Eastlake, Eldora, Eldorado Springs, Evergreen, Foxton, Franktown, Genesee, Glen Echo, Glen Haven, Glendale (Boulder), Glendevey, Gold Hill, Gooding, Grandview Estates, Greenland, Gunbarrel, Henderson, Hidden Lake, Highlands Ranch, Hygiene, Idledale, Indian Hills, Kelim, Ken Caryl Ranch, Kinikinik, Kittredge, Laporte, Lazy Acres, Leyden, Leyner, Liggett, Livermore, Louviers, Marshall, Masonville, Meridian, Meridian Village, Mountain Meadows, Niwot, Paragon Estates, Perry Park, Pine, Pine Brook Hill, Pinecliffe, Plastic, Red Feather Lakes, Roxborough Park, Rustic, Sedalia, Seven Hills, Shaffer's Crossing, Sierra Ridge, St. Ann Highlands, Stepping Stone, Sterling Ranch, Stonegate, Strasburg, Sugarloaf, Sunshine, Tall Timber, Ted's Place, The Pinery, Valmont, Watkins, Waverly, Westcreek, Wondervu
*First lien interest rates may be higher when using a DPA second. Closing costs and fees may still apply.