DPA Programs in Colorado

See which program is right for you!

Down Payment Assistance products offered in Colorado include: CHENOA Fund Program, City/County of Denver MMA Grant, Colorado Housing Finance Authority, the Within Reach Program and more! To see which program may be right for you, get started on your application today!

Available Programs

City/County of Denver MMA

The City/County of Denver MMA can help first-time home buyers purchase the house of their dreams. It is available within the City and County of Denver.

Availability: Denver, CO

  • Down payment assistance up to 6% of the note amount on FHA and up to 5% on Conventional
  • 30-year fixed term with full amortization on the first mortgage
  • FHA and Conventional loan types available
  • Homebuyer education course IS required
  • Credit and income restrictions may apply

CHENOA Fund Program

The CHENOA Fund Program is available throughout the state of Colorado.

Availability: Nationwide

  • Down payment assistance up to 3.5% of the purchase price or appraised value, whichever is less
  • 30-year fixed term with full amortization on the first mortgage
  • FHA and Conventional
  • Homebuyer education course NOT required
  • Credit and income restrictions may apply

Colorado Housing Finance Authority Conventional Advantage Program

Currently, the Colorado Housing Finance Authority Conventional Advantage Program is available as both a first and second mortgage within the state of Colorado.

Availability: Colorado

  • Down payment assistance up to 4%
  • Conventional loan types available
  • Homebuyer education course IS required
  • Credit and income restrictions may apply

Colorado Housing Finance Authority Preferred Plus

Currently, the Colorado Housing Finance Authority Preferred Plus Grant is a first and second mortgage available within the state of Colorado.

Availability: Colorado

  • Down payment assistance up to 4%
  • Conventional loan types only
  • Homebuyer education course IS required
  • Credit and income restrictions may apply

Colorado Housing Finance Authority SmartStep Plus FHA, VA, and USDA

Currently, the Colorado Housing Finance Authority SmartStep Plus Grant or second FHA, VA, and USDA is a first and second mortgage which is available within the state of Colorado.

Availability: Colorado

  • Down payment assistance up to 4% for a 2nd or 3% for a grant
  • FHA, USDA and VA loan types available
  • Homebuyer education course IS required
  • Credit and income restrictions may apply

Within Reach Program

This is a second, forgivable mortgage and is available nationwide.

Availability: Nationwide

  • Down payment assistance up to 6% of the note amount
  • 30-year fixed term with full amortization
  • FHA loan types only
  • Homebuyer education course is required
  • Credit and income restrictions may apply

Some program restrictions and requirements apply. The type of DPA and lien position will vary for each loan program. Please contact your On Q Home Loans Mortgage Consultant for more information. Loan down payment example is based on a 30 year fixed conventional mortgage loan with 4.0% down (provided through the Down Payment Assistance program). Amounts are based on loan amount of $200,000, interest rate of 4.185%, APR of 5.132%, $6,023 due from borrower at closing ($8,000 down payment paid through down payment assistance program). Approximate monthly payment of $1,465. All amounts shown are estimates provided for educational and comparison purposes only and will vary for each loan. Borrower will be responsible for down payment beyond what is provided by the program as well as any fees and costs associated with the loan. Down payment assistance may come in the form of a forgivable or non-forgivable lien. Income and geographic restrictions apply. Homebuyer education may be required for certain payment assistance programs. Program availability is subject to change without notice. Additional restrictions may apply. Loan amounts and fees will vary based on program used. Loan Amounts on FHA Scenario’s include an FHA 1.75% upfront fee. Loan Amounts on VA scenario’s include a 2.3% VA Funding Fee (Based on Regular Military 1st time usage)-No down payment required unless sales price exceeds appraised value. A USDA Guarantee fee will be charged and financed into the loan. The USDA Guarantee Fee is 1% of the loan amount and the USDA Annual Fee is 0.35% as of 06/01/2018. The USDA Annual Fee is to be paid monthly as part of the mortgage payment. On Q Home Loans is an Equal Housing Lender. On Q Home Loans0329180681Y000003h1zO