First-Time Home Buyer Colorado

First-Time Home Buyer Programs in Colorado

Buying your first home in Colorado is an exciting milestone — but it can feel overwhelming without the right guidance. Mango Stock Mortgage helps Colorado first-time homebuyers navigate state and local down payment assistance programs, FHA loans, and other resources designed to make homeownership accessible across Colorado’s diverse markets.

Colorado First-Time Buyer Programs

  • CHFA FirstStep and FirstStep Plus — Colorado Housing and Finance Authority (CHFA) fixed-rate first mortgages for qualifying first-time buyers, qualified veterans, or buyers in targeted areas, with optional down payment assistance
  • CHFA SmartStep and SmartStep Plus — Combines a CHFA first mortgage with down payment assistance for FHA, VA, or USDA loan types
  • Metro Mortgage Assistance Plus (Denver) — Offers a 4% down payment and closing cost grant for Denver metro buyers meeting income limits
  • Colorado CHFA Down Payment Assistance Grant — A grant (not a loan) of up to 3% of the loan amount for eligible Colorado buyers who don’t need to be repaid
  • Federal Home Loan Bank of Topeka — AHP — Affordable Housing Program grants available through participating Colorado lenders

Am I a First-Time Buyer in Colorado?

Colorado’s definition of “first-time homebuyer” is broader than most people expect. Under the HUD definition many programs use, you qualify as a first-time buyer if you have not owned a primary residence in the last three years — even if you owned a home before. Divorced homeowners and people who have lived in a manufactured home may also qualify. There is no age limit on first-time buyer programs, and lenders may not count your age against you. Buying your first home in your 40s or 50s? Read First-Time Home Buyer in Colorado Over 40: You’re Not Late. Ask our team about your specific situation.

Loan Programs Colorado First-Time Buyers Use Most

  • FHA Loans — Popular with Colorado first-timers: a low down payment option with flexible credit guidelines, available statewide
  • VA Loans — For eligible Colorado service members and veterans, with no monthly mortgage insurance
  • USDA Loans — For eligible buyers in USDA-designated rural areas of Colorado, subject to income limits
  • Conventional 97 — A low down payment conventional option for first-time buyers with good credit and stable income

Colorado First-Time Buyer Income & Purchase Price Limits (CHFA)

CHFA programs have income limits that vary by household size and county. Purchase price limits also vary by county. The Denver metro, Boulder, and resort counties typically have higher limits than rural Colorado counties. Contact our Colorado mortgage team to check your eligibility based on your specific county and household income.

Steps to Buying Your First Home in Colorado

  1. Check your credit score and review your credit report for errors
  2. Calculate your budget: down payment, monthly payment, and closing costs
  3. Get pre-approved with Mango Stock Mortgage — we’ll compare the Colorado programs that fit your situation
  4. Work with a Colorado real estate agent to find your home
  5. Make an offer and negotiate the purchase contract
  6. Complete the appraisal, inspection, and final underwriting
  7. Close on your new Colorado home and get your keys!

Colorado & California Licensed Lender. Mango Stock Mortgage originates mortgages in Colorado and California. CHFA and other program availability subject to income limits, purchase price limits, and eligibility requirements. Equal Housing Lender.

Start My Colorado First-Time Buyer Pre-Approval

Related Colorado Mortgage Resources

See what you qualify for

Tell us about the property and what you are trying to do. A licensed loan officer will come back to you within one business day with what is actually available — including when the answer is to wait.

We are licensed in Colorado and California only.