Low Down Payment Options

Realize Your Dream of Owning a Home

Colorado first-time and repeat homebuyers can choose from a variety of low down payment mortgage programs.

If you don't think you'll be able to afford a 20% down payment on a house, don't worry; there are other options for you to consider. We offer a variety of products that can help you save money on your down payment, including the popular CHFA and metroDPA down payment assistance programs.*

As one of Colorado's top loan originators and down payment assistance lenders, we're here to help you get started or answer any questions you may have. To get started, please complete our contact form or apply online.

Click Here to Apply Online

Colorado Low Down Payment Mortgage Options:

CHFA Loans Click to open answer

CHFA Participating Lender

The following are some of CHFA’s general requirements:

  • All borrowers have a mid-credit score of 620 or higher
  • Total borrower income must not exceed CHFA’s income limits
  • Attend a CHFA-approved homebuyer education class (in person or on-line) prior to loan closing
  • Make a minimum borrower financial contribution of at least $1,000 toward the purchase of the home

Down payment and/or closing cost assistance options:

  • Down Payment Assistance Grant *
    • Up to 3 percent of your first mortgage** 
    • No repayment required
  • Second Mortgage Loan*
    • Up to 4 percent of your first mortgage**
    • Repayment of loan balance deferred until certain events, such as payoff of your first mortgage, or the sale or refinance of the home.
*First lien interest rates may be higher when using DPA second.
**For a 30-year, fixed-rate loan.


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metroDPA Down Payment Assistance Click to open answer

metroDPA logo

metroDPA is a local program serving Coloradans seeking affordable homeownership.

Down Payment Assistance*:

  • 30-year fixed-rate mortgages to qualified homebuyers and Government Loans:
    • FHA, VA, and USDA
    • Conventional Loans: Government-Sponsored Enterprise (GSE) Programs
  • Assistance up to 5% of the first mortgage loan amount
    • Assistance is in the form of a 3-year forgivable second mortgage
    • 0% interest rate, no repayment anticipated
    • USDA assistance is in the form of a grant

Who can use it?

  • Qualified borrowers with a credit score above 640 (down to 620 in some cases)…
  • An income below $150,000/year 
  • Buying a home in an approved area
  • Must be primary residence and purchase only
  • No first-time homebuyer requirement
  • No purchase price requirement

*First lien interest rates may be higher when using DPA second. Closing costs and fees may still apply.

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Conventional Loans Click to open answer

Conventional loans offer affordable rates and flexible down payment options.

  • Low interest rates and fees

  • Low down payment options

  • Mortgage insurance requirement depends on the down payment amount

  • Available for purchases or refinances

This loan program poses fewer hurdles than other mortgages, so you could close faster.

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FHA Home Loans Click to open answer

Homeownership could be closer than you think. Our FHA loan programs are created for buyers like you who are ready to take the next step in life.

With features like homeownership workshops and available down payment assistance, government-backed FHA home loans are perfect for:

  • First-time homebuyers

  • Low-to-moderate income families

  • Buyers looking for a low down payment

  • Buyers with higher debt-to-income ratios


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VA Home Loans Click to open answer

VA home loans* offer flexible, sustainable terms, allowing you to purchase your first home even if you have limited savings. And with several refinancing options, you can turn your home equity into cash and reduce your monthly mortgage payment.

Features of our VA Home Loans:

  • 100% financing available with no down payment*

  • Government-backed, so no private mortgage insurance required

  • Competitive rates, a greater degree of safety, and optimal flexibility

  • Easier qualification requirements compared to other home loans

  • Financing for veterans, active service members, and select military spouses

*VA home loan purchases, have options for 0% down payment, No private mortgage Insurance requirements, competitive interest rates, with specific qualification requirements. VA Interest rate reduction loans (IRRRL) are only for Veterans who currently have a VA loan, current loan rate restrictions apply, and limits to recoupment of costs and fees apply. VA Cash-out Refinances are available for Veterans with or without current VA loans. Policies and guidelines may vary and are subject to the individual borrower(s) qualification. Program and Lender overlays apply.

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USDA (Rural Housing) Home Loans Click to open answer

USDA loans are government-insured loans that help people purchase homes in rural areas. These loans are often available with low or no down payment.*

USDA Program Features

  • No down payment required*

  • Minimum credit score of 620

  • Lower mortgage insurance fees than Conventional or FHA

  • Ideal for low and moderate-income households

  • 15-year and 30-year fixed mortgage interest rates

  • Financing for existing homes, new construction, or foreclosures

  • Income flexibilities for homes in USDA-eligible areas

*Closing costs and fees may still apply.

Apply Now

*First lien interest rates may be higher when using a DPA second. Closing costs and fees may still apply.

Get Started Today

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Nick Barta

Division President | Loan Originator
NMLS/MA MLO #25540
M: (303) 709-9625 | O: (303) 740-8300
Fax: (844) 222-3273
Email: [email protected]

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