How much down payment do I need to buy a house in Colorado?

You can buy a home in Colorado with as little as 0% down (VA/USDA), 3% down ($16,050 conventional), or 3.5% down ($18,725 FHA) on the median-priced home of $535,000.

What income do I need to buy a home in Colorado?

To afford the median-priced home in Colorado ($535,000) with a 30-year mortgage at 6.22%, you typically need a household income of approximately $132,942 per year (using the 28% rule). The median income in Colorado is $82,254.

What is the FHA loan limit in Colorado for 2026?

The FHA loan limit in Colorado for 2026 is $816,500. This means first-time buyers using FHA loans can finance up to this amount with just 3.5% down payment.

First-Time Home Buyer Colorado 2026

Q: What first-time home buyer programs are available in Colorado?

Colorado offers 2 major first-time buyer programs including CHFA Down Payment Assistance, MetroDPA. These programs provide grants, forgivable loans, and below-market rates to help with down payment and closing costs.

Your complete guide to buying your first home in Colorado. 2+ down payment assistance programs, FHA loans from 6.02%, and step-by-step guidance.

Median Price

$535,000

Min Down (FHA)

$18,725

DPA Programs

Best Rate

6.02%

Check My Colorado Eligibility

What First-Time Buyer Programs Are Available in Colorado?

Colorado offers 2 major first-time home buyer assistance programs. These include CHFA Down Payment Assistance, MetroDPA. Programs provide up to $25,000 in down payment assistance through grants, forgivable loans, and below-market interest rates.

How Much Do I Need to Buy in Colorado?

You can buy a home in Colorado with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$18,725), and conventional loans start at 3% ($$16,050) on the median price of $535,000.

Loan Type	Down Payment	$ Amount	Monthly P&I	Min Credit
VA Loan	0%	$0	$3,197	620
USDA Loan	0%	$0	$3,284	640
Conventional 3%	3%	$16,050	$3,185	620
FHA Loan	3.5%	$18,725	$3,102	580
Conventional 20%	20%	$107,000	$2,627	620

Colorado Down Payment Assistance Programs

CHFA Down Payment Assistance

Grant or second mortgage for DPA

Up to $25,000grant

MetroDPA

DPA for Denver metro area buyers

Up to $15,000forgivable

5 Steps to Buy Your First Home in Colorado

To buy your first home in Colorado, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.

Check Your Credit & Finances

Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In Colorado, you may need as little as $18,725 for an FHA down payment.

Get Pre-Approved

Compare rates from at least 3 lenders. Current Colorado rates: 6.22% (30-year), 6.02% (FHA). Pre-approval shows sellers you're serious and locks your rate.

Apply for Colorado DPA Programs

Colorado has 2+ DPA programs. The CHFA Down Payment Assistance offers up to $25,000. Apply early—funding can be limited.

House Hunt & Make an Offer

Popular cities in Colorado: Denver, Colorado Springs, Aurora, Fort Collins, Boulder. Median price is $535,000 (+3.8% YoY). Work with a local real estate agent who knows the market.

Close on Your New Home

Closing costs in Colorado typically run 2-5% of the purchase price ($16,050-$26,750). Some DPA programs also cover closing costs.

Start Your Colorado Home Buying Journey

Get pre-approved in minutes and see what you qualify for.

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Colorado First-Time Buyer FAQ

What first-time home buyer programs are available in Colorado?

Colorado offers 2 major programs: CHFA Down Payment Assistance, MetroDPA. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.