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First-Time Buyer loans in Colorado

Quick answer

First-time buyers in Colorado can use FHA (3.5% down), conventional 97 (3% down), VA or USDA loans, plus programs from Colorado Housing and Finance Authority (CHFA). On a $502,200 home, 3% down is about $15,066.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

First-Time Buyer loan snapshot for Colorado

ItemEstimate
Minimum down payment0%–3.5%
Minimum credit score580–620
Typical CO home value$502,200
3.5% down on typical home$17,577
20% down on typical home$100,440
Avg. effective property tax0.49%/yr (~$204/mo)
Income for typical home (31% rule)$151,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which Colorado programs pair with First-Time Buyer loans?

  • CHFA Down Payment Assistance Grant: A grant (no repayment) toward down payment and closing costs, with a slightly higher first-mortgage rate.
  • CHFA Second Mortgage Loan: A deferred second loan for down payment assistance repaid when the home is sold or refinanced.

Details and current limits: Colorado Housing and Finance Authority (CHFA).

Compare first-time buyer loan options

LoanMin. downMin. creditMortgage insurance
FHA3.5%5801.75% upfront + annual MIP
Conventional 97 / HomeReady / Home Possible3%620PMI, removable
VA0%Lender-set (~580–620)None (funding fee)
USDA0%~6401% upfront + 0.35% annual

Who counts as a first-time home buyer?

Under HUD and most agency definitions, you're a first-time buyer if you haven't owned a principal residence in the last three years. Single parents and displaced homemakers who only owned with a former spouse may also qualify.

First-Time Buyer loans in Colorado cities

First-Time Buyer in DenverFirst-Time Buyer in Colorado SpringsFirst-Time Buyer in AuroraFirst-Time Buyer in Fort CollinsFirst-Time Buyer in LakewoodFirst-Time Buyer in ThorntonFirst-Time Buyer in ArvadaFirst-Time Buyer in WestminsterFirst-Time Buyer in PuebloFirst-Time Buyer in GreeleyFirst-Time Buyer in CentennialFirst-Time Buyer in BoulderFirst-Time Buyer in Highlands RanchFirst-Time Buyer in LongmontFirst-Time Buyer in LovelandFirst-Time Buyer in Castle RockFirst-Time Buyer in BroomfieldFirst-Time Buyer in Grand JunctionFirst-Time Buyer in Commerce CityFirst-Time Buyer in ParkerFirst-Time Buyer in LittletonFirst-Time Buyer in BrightonFirst-Time Buyer in Security-WidefieldFirst-Time Buyer in NorthglennFirst-Time Buyer in WindsorFirst-Time Buyer in Pueblo WestFirst-Time Buyer in Dakota RidgeFirst-Time Buyer in EnglewoodFirst-Time Buyer in Ken CarylFirst-Time Buyer in Wheat RidgeFirst-Time Buyer in ErieFirst-Time Buyer in LafayetteFirst-Time Buyer in FountainFirst-Time Buyer in ColumbineFirst-Time Buyer in EvansFirst-Time Buyer in Four Square MileFirst-Time Buyer in LouisvilleFirst-Time Buyer in MontroseFirst-Time Buyer in GoldenFirst-Time Buyer in CliftonFirst-Time Buyer in SherrelwoodFirst-Time Buyer in DurangoFirst-Time Buyer in Cimarron HillsFirst-Time Buyer in JohnstownFirst-Time Buyer in FirestoneFirst-Time Buyer in Cañon CityFirst-Time Buyer in WelbyFirst-Time Buyer in FrederickFirst-Time Buyer in Greenwood VillageFirst-Time Buyer in Black ForestFirst-Time Buyer in Federal HeightsFirst-Time Buyer in Lone TreeFirst-Time Buyer in FruitaFirst-Time Buyer in Steamboat SpringsFirst-Time Buyer in SterlingFirst-Time Buyer in SuperiorFirst-Time Buyer in Castle PinesFirst-Time Buyer in The PineryFirst-Time Buyer in BerthoudFirst-Time Buyer in Wellington

Frequently asked questions

Yes. First-Time Buyer loans are available statewide in Colorado through approved lenders, subject to county loan limits where they apply.

Often yes. Colorado Housing and Finance Authority (CHFA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.