CHAC Down Payment Assistance
Colorado Housing Assistance Corporation is a nonprofit organization that offers down payment assistance and affordable loan programs to low- to moderate-income home buyers in Colorado.
CHAC’s assistance is intended for first-time buyers. To qualify, you’ll need to have a low or moderate income compared to others in the area in which you live.
All borrowers must contribute a minimum of 1% of the home’s sale price to the transaction, and those funds cannot be a gift. If you’re part of the state’s disability program, that requirement is reduced to $750.
This down payment assistance comes in the form of a second mortgage loan that must be repaid via monthly payments.
Borrowers must also take a homebuyer education course
For more, visit CHAC’s website. And consult HUD’s list1 of alternative programs for Colorado.