Assistance Programs for First Time Home Buyers in Boulder County, Colorado
If you live in Colorado and are interested in buying a home in Boulder County – there may be down payment assistance programs available to you. Saving enough money for a down payment is one of the single biggest obstacles to homeownership – but it is entirely possible that down payment assistance is available to you and you aren’t even aware of it.
What is Down Payment Assistance?
It is any kind of program that is designed to help people get into a home. That may be a very broad definition, but down payment assistance programs are not always programs that hand out free money by giving you cash in a suitcase – they can take many different forms. Some examples of the different types of down payment assistance programs that may be available include: Grants, Silent Seconds, Delayed Repayment Loans, Interest Free Loans, and Lender Specific Programs. Since there are so many different types of programs that may be available – it is advised that you find the right loan officer who is knowledgeable in programs in your area.
Down Payment Assistance Programs in Boulder County, Colorado
- Boulder County – Down Payment Assistance Program: With the CHFA DPA Grant, you can grant yourself the freedom to have your own home, thanks to a little help from CHFA. And you never have to pay it back! For more information, click here.
- Colorado Housing Assistance Corp (CHAC) Statewide Down Payment Assistance Program for People with Disabilities: CHAC provides low interest, flexible loans to low and moderate (80% AMI) income first time home buyers for down payment and closing cost assistance throughout Colorado. The loan is recorded as a second mortgage, (lien), on the property being purchased. All of the loans require repayments, usually monthly, although the start date of those payments may vary. For more information, click here.
- City of Boulder – House 2 Home Ownership (H20) Program: This program offers opportunities for homeownership to those with low, moderate, and middle incomes. They promote homeownership through three programs: Permanently Affordable Program (Homeworks), Downpayment Grant (Solution Grant), and Downpayment Loan (House to Homeownership – H2O). For more information, click here.
Mortgage Programs Available in Boulder County, Colorado
- Colorado Housing Enterprises Downpayment Assistance Program: CHE assists borrowers needing home mortgage finance in achieving and maintaining healthy home ownership by promoting responsible lending and providing healthy mortgage finance options to meet individual clients needs, including first mortgage lending, down payment and closing cost assistance and rural small business lending. For more information, click here.
- CHFA Mortgage Credit Certificate – Colorado Housing and Finance Authority: This is a tax credit program to claim a percentage of annual mortgage interest paid each year as a federal tax credit on Federal Income Tax Returns. For more information, click here.
- National Homebuyers Fund, Inc. – Platinum Program: The NHF Platinum Program provides down payment assistance (up to 5% of the loan amount) in conjunction with the purchase of a primary residence in various states. Restrictions may apply. For more information, click here.
Additional Home Buying Resources
HUD offers some resources to those people who are interested in learning more about the process of buying a home, and the information on HUD’s website is free. Just a few of the services that HUD offers information about include: housing counseling agencies, predatory lending, education, assistance programs, HUD homes for sale, homeownership vouchers, home repairs, avoiding foreclosure, making your home more energy efficient, and more.
Other Relevant Boulder County Sites
- Colorado Association of Realtors
- Boulder County Schools
- Boulder County Sheriff
- HUD Homeownership Assistance for Colorado