Funds for the Metro Mortgage Assistance Program have been exhausted. The only available funds are in Target Areas. Please check back periodically for announcements of future programs.
Have you dreamed of owning a home but didn't think you could qualify for a mortgage? The City and County of Denver and the Metro Mayors Caucus announce the Metro Mortgage Assistance program! The City and County of Denver, along with over 20 other front-range cities, is offering a special mortgage assistance program for first-time home buyers with qualifying incomes. The first-time homebuyer requirement is waived if homes purchased are in Target Areas.
Homes may be purchased in the following cities:
Arvada
Aurora
Bennett
Brighton
Broomfield
Centennial
Dacono
Denver
Edgewater
Erie
Federal Heights
Frederick
Golden
Greenwood Village
Lafayette
Littleton
Lone Tree
Longmont
Louisville
Northglenn
Sheridan
Superior
Westminster
Program Details & Eligibility
First-time homebuyers cannot have owned a home in the past three years (except in "Target Areas"). The first-time homebuyer requirement is waived for qualified veterans.
Maximum Household Income
For homes purchased in non-target areas:
Families of 2 or fewer — $71,700
Families of 3 or more — $82,455
For homes purchased in Target Areas:
Families of 2 or fewer — $86,040
Families of 3 or more — $100,380
Maximum Home Cost
Non-target areas — $365,175
Target areas — $446,325
Interest Rate
30-year-fixed rate at 6.33%
Down Payment Assistance
4% of the home loan amount is offered as a non-repayable grant for down payment and closing-cost assistance. All qualifying borrowers under the program will receive the 4.00% assistance.
(For eligible homebuyers, additional down payment assistance might be available outside of the Metro Mortgage Assistance Program. Homebuyers with household incomes at or below 80% of the area median income for the metropolitan Denver area may be eligible for additional down payment and closing costs up to 6% of the purchase price or $10,000, whichever is higher. Call Colorado Housing Assistance Corporation at 303-572-9445 to see if you qualify.)
Cost to Buyer
At mortgage loan closing, the lender will collect only a 1.00% origination fee and no discount points from the borrower or seller.
Target Areas
To lookup whether a property is located within a Target Area, DenverMaps offers a Real Property report. Simply enter the address, and check "Metro Mortgage Areas" under "Optional Map Layers."
Participating Lenders
Air Academy Federal Credit Union — 720-208-7440
American Liberty Mortgage, Inc. — 303-458-3778
Chase Home Finance — 303-759-6758; 303-504-3183
Cherry Creek Mortgage — 303-226-8711; 303-302-8102
Clarion Mortgage Capital, Inc. — 303-948-1711
Colorado State Bank and Trust — 303-861-2111
Countrywide Home Loans — 303-333-1385; 303-716-7997
DHI Mortgage — 720-488-2080
First Community Bank — 303-729-3742
Peoples Mortgage Corporation — 719-531-5577; 800-650-3300
Summit Mortgage — 720-200-9480
Universal Lending Corporation —303-758-4969
Wells Fargo Home Mortgage — 303-790-8601
W.R. Starkey Mortgage, LLP — 303-757-0300; 303-489-0712
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