Down payment assistance provides funds toward your down payment and closing costs through grants or low-cost second loans.
Assistance reduces the cash you need, so you can buy now instead of saving for years longer.
Options range from grants to forgivable, deferred or low-rate second mortgages.
Hold on to a cushion for moving costs, repairs and emergencies instead of spending it all at closing.
Assistance can be combined with FHA, VA, USDA and conventional loans.
Some programs are open to repeat buyers who meet income and occupancy rules.
We know the Colorado programs, including CHFA and local city and county options.
Eligibility depends on the program, but lenders typically look for:
Income Within Program Limits – Limits vary by county and household size.
A Qualifying Credit Score – Many programs require a score of 620 or higher.
A Primary Residence – The home must be the place you live.
Homebuyer Education – Many programs require a short approved course.
A Small Personal Contribution – Some programs ask you to put in a modest amount of your own funds.
Answer a few quick questions about your plans, and a Woodcrest loan officer will reach out with options tailored to this loan program.
Get quick answers to the most common questions homebuyers ask. Our FAQ section is designed to help you understand the mortgage process, explore your options, and feel confident every step of the way.
Sometimes. Grants don't have to be repaid, while second-loan programs may be forgiven over time or repaid when you sell or refinance.
Many programs allow the funds to be used for both your down payment and closing costs.
Grants and deferred loans usually don't add to your monthly payment. Repayable second loans may add a small payment, which we'll show you up front.
Not always. Some programs are open to repeat buyers who meet income and occupancy requirements.
