The down payment assistance programs that are listed here are a sample of what is available for homebuyers in Colorado. This can be your starting point as you search for the right program for your family. Home Purchase and Refinance Loans

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Turnkey Plus Mortgage Program

Financial Assistance for Homebuyers in Colorado

The Economic Development Department of El Paso County, Colorado initiated the Single Family "Turnkey" Mortgage Program. The program’s aim is to help low- to moderate-income homebuyers of El Paso County secure affordable home financing by providing a 30-year mortgage, along with down payment assistance.

Available Assistance:
In addition to a 30-year, fixed-rate mortgage, Colorado’s Turnkey Mortgage Origination Program offers eligible applicants a down payment assistance grant up to 4% of the mortgage amount.

Eligibility Requirements:
Unlike most down payment assistance programs, there is no first-time homebuyer requirement, nor a federal “recapture tax.” However, there are other requirements that borrowers must meet to be considered eligible. The program is open to qualifying borrowers throughout El Paso County, including Colorado Springs. Applicants must have an annual household income that falls within the program’s set limit of $108,920. Their debt-to-income ratio must not exceed 45%, and they must have a credit score of at least 640 to receive the 4% grant. Applicants with FHA loans and credit scores between 640 and 659 will receive a 3% grant. Borrowers financing their home with a Freddie Mac HFA Advantage Conventional Loan are required to attend a homebuyer education course.
The purpose of this program is to make funds available to eligible applicants who are interested in purchasing a home but need financial help to pay the upfront costs, which include the down payment, as well as the closing costs and prepaid items required to obtain homeownership. These expenses can add up to a substantial amount, and the inability to pay it might keep people stuck in a renters trap.
*Seller-funded down payment programs were eliminated in the Housing and Economic Recovery Act of 2008, but States and Local government agencies are still permitted to help borrowers finance their homes with second mortgages and grants. These agencies set different requirements that a borrower needs to meet in order to qualify for the grant programs, such as property location, and purchase price and income limits.
(Note: These figures were accurate at the time of publication and may no longer be current - visit the program website for updated information.)

Down payment assistance programs and/or grants were researched by the team at Please note that all programs listed on this website may involve a second mortgage with payments that are forgiven, deferred, or subsidized in some manner until resale of the mortgaged property.'s compilation is not a complete list, but it can serve as a starting point in your search for the down payment assistance program or grant for your situation. It is up to the consumer to contact these entities and find out the specifics of each program.

Down Payment Grants in Colorado

The Colorado Housing Assistance Corporation (CHAC) offers eligible first-time homebuyers a way of financing the down payment and/or closing costs on their mortgage with the CHAC Down Payment Assistance Program. 

The Metro Mortgage Assistance Plus Program is an initiative of Denver's Office of Economic Development. In order to help low and moderate income families get over the hurdle of making down payments, the program offers a grant to help pay the upfront costs.

MetroDPA is a down payment assistance program that helps low- and moderate-income Colorado residents located in and around the Denver Metro Area gain access to safe and affordable housing. 

The Turnkey Mortgage Origination Program offers low- to moderate-income homebuyers in El Paso County a 30-year, fixed-rate mortgage that comes with a down payment assistance grant of 4% of the mortgage amount.

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