Guide to Down Payment Assistance Programs

Solution Grant Program

The Solution Grant assists with down payment and closing costs for buyers with lower assets. The grant bridges the gap between money the buyer has available for down payment and closing costs and the minimum required to close. These grants are for buyers purchasing select Permanently Affordable homes, or Thistle Communities Land Trust homes in Boulder city limits. Each listing on our website will indicate if the home is eligible for a Solution Grant.

H2O: House to Homeownership: Down Payment Assistance Loan Program

The shared appreciation loan program provides a second loan for up to $100,000 on market rate homes purchased in the city of Boulder. In support of the primary loan, this additional loan is intended to help buyers with limited assets close on the purchase of a home in Boulder. No payments are made on the loan for 30 years unless the home is sold or the title is transferred. When the loan comes due the full amount is due back along with a share of the appreciation. This loan can be used on market rate homes. It is not designed to be used with the city’s permanently affordable program.

Middle Income Down Payment Assistance Pilot Program

The City of Boulder’s Middle Income Down Payment Assistance Pilot Program offers middle-income households a zero-interest second mortgage. The loan amount is $200,000 or 30% of the home’s sale price, whichever is less. In exchange for this down payment assistance, the buyer agrees to deed restrict the home to keep it affordable to future buyers. The interest on the DPA loan is 0% and no monthly payments are made on the loan. After 15 years, the total loan amount is due back. If the title of the home transfers before 15 years, the total is due at the time of title transfer.

There are a variety of other down payment assistance programs that prospective buyers may benefit from. These programs are not specifically targeted toward the City of Boulder.

Boulder County Down Payment Assistance Program

Available in Boulder County outside of City of Boulder limits Loan up to 8.5% of purchase price, max $15,000.

• For households earning between 61-80% Area Median Income (AMI): 2% interest loan amortized over a period of 30 years. This loan requires payments. Full repayment is required upon the sale or refinance of home, if there is a change of ownership, or the home is no longer the owner’s primary residence.
• For households earning below 60% Area Median Income (AMI): Deferred loan. No monthly payments and 0% interest. The loan is repaid at due the sale or refinance of home, if there is a change of ownership, or the home is no longer the owner’s primary residence.
• Contact:
  • 303-774-4648
  • Down Payment Assistance - City of Longmont

Colorado Down Payment Assistance Fund (Colorado DPA)

• Overview: Down Payment assistance loans with 0% interest.
• Assistance available: Up to $25,000.
• Income limits: 80% of the Area Median Income (higher limits for those purchasing outside the City of Boulder.

• Repayment: Repaid over 30 years.
• More details: The Colorado DPA fund provides a second loan for up to $25,000 on permanently affordable or market rate homes in select Colorado areas. Homes purchased in the City of Boulder are eligible. In support of the primary loan, this additional loan is intended to help buyers with limited assets close on a home in Boulder. Payments on the 0% loan are made for 30 years.
• Contact:
  • Impact Development Fund
    • consumerloans@impactdf.org
    • CDFI Lender, Partner, & Community Builder

Metro Down Payment Assistance (MetroDPA)

• Overview: Loan that is forgiven after three years.
• Assistance available: Up to 5% of the primary loan value.
• Income limits: $195,600 all households (2025).
• Repayment: Loan is forgiven after three years if the owner continues to live in the home.
• More details: MetroDPA makes available a loan for up to 5% of the primary loan’s value. After three years of primary loan payments the MetroDPA loan is forgiven. The MetroDPA Program is administered by the City and County of Denver, and the city of Boulder is a participating jurisdiction. Lenders that have completed the required training are eligible to participate. It is the lender’s responsibility to certify the applicant eligibility for this grant, reserve funds, and meet the reporting requirements.
• Contact:
  • City and County of Denver
    • www.metrodpa.org

Personal Investment Enterprise (PIE)

• Overview: Matched savings for down payment.
• Assistance available: Up to $4,000.
• Income limits: All reviewed on a case-by-case basis, mainly 300% of the Federal Poverty Level (FPL). Visit the county's website for details.
• Repayment: No repayment.
• More details: The Boulder County PIE program gives qualified applicants a $4 match for every dollar they save for down payment up to $1,000 ($4,000 match). Funds need to be saved in a program established account and require a six- month saving period.
• Contact:
  • Boulder County
    • pieprogram@bouldercounty.org
    • 303-441-3697
    • PIE - Boulder County

Colorado Housing Assistance Corporation (CHAC)

Available statewide, fees apply. Lender sends packet after contract.

• Immediate Payback – Loan Amount 6% of the sales price or appraised value (whichever is less) up to $12,000, rate 3%.
• 5 Year Deferral Program – Loan Amount 6% of the sale price or appraised value (whichever is less) up to $12,000, loans $5,000 – $12,000 amortized over 360 months, first 5 years no payments 0% interest, next 25 years with payments 5% interest.
• Disability Program – Loan Amount maximum of $10,000, Interest rate 0%, APR 1% Term 30 years, Payment is deferred for 30 years. Due on sale or transfer.
• Contact:
  • 303-572-9445
  • www.chaconline.org

Colorado Housing Enterprises, Inc

Available statewide

• Loan of $3000-$10,000, interest rate matches 1st mortgage, 10-year term. *Lender sends packet.
• Contact:
  • 303-428-1448
  • www.crhdc.org

Must work with participating lenders

Colorado Housing Finance Authority (CHFA)

• DPA Grant of up to the lesser of $25,000 or 3 percent of your first mortgage** (Example: Get up to $6,000 on a $200,000 mortgage) No repayment required
• Second Mortgage Loan of up to the lesser of $25,000 or 4 percent of your first mortgage** (Example: Get up to $8,000 on a $200,000 mortgage)
  • Individuals living with a permanent disability or first-generation homebuyers can access specific programs offering up to $25,000 regardless of first mortgage amount**
  • Repayment of loan balance deferred until certain events, such as payoff of your first mortgage, or the sale or refinance of the home, or the home is no longer your primary residence.
• ** Higher interest rates apply for a 30-year, fixed-rate loan.
• Contact:
  • 303-297-2432
  • CHFA: Down Payment Assistance

FirstBank Down Payment Assistance Program

Available statewide.

• Loans of up to 20% of purchase price, max $30,000, must use FirstBank mortgage, 4% interest, 15-year term, for households making up to 80% AMI. Lender sends packet.
• Contact:
  • 970-494-2021
  • www.impactdf.org/boulder-county

National Homebuyers Fund Platinum

• Grant of up to 5% of loan amount available statewide in conjunction with primary mortgage.
• Contact:
  • www.nhfloan.org