Overview
Denver has shifted into a buyer's market by its own standards. Redfin's median sale price was $596,716 for the three months ending September 2026, up 4.7% from a year earlier, but September sales fell 11.8% and homes took a median 35 days to sell. The Denver Metro Association of Realtors counted 2,849 metro closings in September, the lowest September since its records began in 2008, with 4.76 months of inventory, a condo and townhome median of $365,500 (down 6.28%) and a year-to-date detached median of $650,000; 30-year rates were near 7.5% by month end. First-time buyers mostly buy attached homes, or detached homes in Denver neighborhoods such as Montbello, Green Valley Ranch, Westwood and Barnum, or in Aurora and the north metro. The $365,500 condo median is where most of the programs below actually get used.
The City and County of Denver sponsors metroDPA on behalf of the Metro Mayors Caucus, and it is the workhorse: a 30-year fixed FHA, VA, USDA or conventional first mortgage bundled with a second mortgage equal to 3% or 4% of the loan amount at 0% interest, no payments, deferred 30 years and never forgiven, so it comes due when you sell, refinance or move out. Qualifying income can be up to $216,000 (raised from $210,150 in June 2026), the minimum score is 620 to 640, there is no first-time requirement and no price cap, and everyone on title takes a homebuyer class. In September 2026 Denver added denFirstGen for first-time, first-generation buyers purchasing inside the City and County: $30,000 (up to 20% of the price) as a 0% deferred second behind an FHA-only first mortgage, for households under 100% of AMI ($144,000 for four). The Department of Housing Stability's Affordable Homeownership Program sells income-restricted homes at set prices to buyers at 50% to 120% of AMI; in 2026 an 80%-AMI two-bedroom is capped at $328,650 and a 100%-AMI two-bedroom at $448,600. Colorado Housing Assistance Corporation lends 6% of the price up to $12,000 (its Immediate Payback option was suspended October 1, 2026; the 5-year-deferral version remains) plus a $10,000 0% deferred loan for buyers with a permanent disability. Habitat for Humanity of Metro Denver (under 80% of AMI; Villa Park Homes is its current Denver project), Elevation Community Land Trust (homes listed at $275,000 to $340,000 on leased land) and FHLBank Topeka's $15,000 HSP grant (2026 round closed September 30) round out the field.
Local Programs in Denver
metroDPA
Minimum 620 FICO per the September 2026 servicer guide (Denver's page says 640, sometimes 620); AUS approval required with no separate DTI cap; no minimum borrower investment. Homebuyer education is required for every borrower and anyone on title (HUD-approved or National Industry Standards course; post-closing education not accepted). Must use a metroDPA-approved, eHousingPlus-trained lender. The Denver Advantage rate option was removed September 14, 2026. The 2022-era metroDPA Social Equity program ($15,000 or $25,000 for residents of formerly redlined Denver neighborhoods) no longer appears on metroDPA's or Denver's official pages. Assistance cannot cover appraisal gaps, borrower debt or cash back.
metroDPA denFirstGen
Brand new: guidelines published August 28, 2026 and revised September 14, 2026. Borrowers (and spouses) must meet both first-time and first-generation tests as defined in the guide. FHA loans only; combined loan-to-value up to 105%; homebuyer education required; assistance can fund down payment, closing costs, prepaids and buyer-side agent compensation but no cash back. Apply through a metroDPA-approved lender; rates and assistance amounts can change at any time for unreserved loans.
Denver Affordable Homeownership Program (income-restricted for-sale homes)
Must complete a HUD-certified homebuyer class (free classes through Brothers Redevelopment, CHAC, Denver Housing Authority, NEWSED and Northeast Denver Housing Center). Personal assets cannot exceed 1.5 times the home's maximum initial sales price; gifts capped at 20% of the purchase price. Pre-qualification is valid six months; denied or cancelled applicants wait 90 days to reapply. Checklists revised April 2026; apply at denvergov.tfaforms.net/4657392 or affordablehousing@denvergov.org, 720-913-1634.
CHAC Down Payment Assistance
Borrowers must attend a first-time homebuyer class and a CHAC phone counseling session before closing; minimum $1,000 of the borrower's own funds ($750 for the disability program), not a gift. Fees can include a $200 to $250 commitment fee, $100 to $150 document preparation, recording and wiring fees, and a $5 monthly service fee on amortizing loans. Pre-1978 homes need a lead-safe visual inspection; sales price must not exceed appraised value. New loan requests go to newloans@chaconline.org.
Habitat for Humanity of Metro Denver homeownership program
A homeownership information session is mandatory before applying, and applicants apply to a specific project. Meeting the income limit does not guarantee approval; housing need, partnership commitment and financial readiness are also evaluated. Homeowner Services hotline 720-496-2726.
Elevation Community Land Trust
Requires a $3,000 minimum savings balance (at least $1,000 of it the buyer's own money), the ECLT online orientation, the CHFA homebuyer education course, a pre-approval from an ECLT partner lender before going under contract, and ECLT approval before purchase. Resale formula and ground lease fee are not published on the site.
FHLBank Topeka Homeownership Set-aside Program (HSP)
The 2026 round opened March 2, 2026 and ran first-come, first-served through September 30, 2026 ($75,000 monthly cap per member), so it is closed for 2026. Homebuyer education certificate dated in the closing year or the prior year is required.
Stacking With Colorado Programs
CHFA's first mortgages come with a CHFA down payment grant of up to the lesser of $25,000 or 3% of the loan, or a deferred second mortgage of up to the lesser of $25,000 or 4% (repaid on payoff, sale, refinance or move-out), plus up to $25,000 for first-generation buyers through CHFA FirstGeneration. metroDPA and denFirstGen are themselves first-mortgage programs, so a Denver buyer chooses either a CHFA loan with CHFA assistance or a metroDPA loan with metroDPA assistance; the two are not stacked. Third-party seconds such as CHAC, an FHLBank Topeka HSP grant or Elevation CLT's assistance can sit behind either first mortgage subject to the lender's approval, and HOST's income-restricted homes can be financed with any qualifying loan; neither CHFA nor metroDPA publishes layering rules, so confirm the lien order in writing.
Full details, income limits, and the federal FHA, VA, and USDA options are on the Colorado first-time homebuyer programs guide. When you know what you qualify for, compare the best mortgage lenders for first-time buyers and confirm the lender is approved for the program you plan to use.
Tips for First-Time Buyers in Denver
Stacking has one hard rule: metroDPA and CHFA are both first-mortgage programs, so you choose one. CHFA brings a grant of up to the lesser of $25,000 or 3% of the loan, or a deferred second of up to the lesser of $25,000 or 4%, and $25,000 for first-generation buyers. Third-party seconds such as CHAC, an FHLBank grant or Elevation's own assistance can sit behind either, subject to the lender's approval; neither CHFA nor metroDPA publishes layering rules, so get the lien order in writing. Conventional metroDPA borrowers under 80% of AMI ($115,200 in Denver County) get reduced-cost mortgage insurance.
Take a HUD-certified class first; Brothers Redevelopment, CHAC, Denver Housing Authority, NEWSED and Northeast Denver Housing Center offer free ones, and HOST, metroDPA and CHAC all require a certificate. Use a program-approved lender; metroDPA lenders must be trained through eHousingPlus. HOST pre-qualification is valid six months, denied applicants wait 90 days to reapply, and personal assets cannot exceed 1.5 times the home's maximum price. Expect terms to move: Denver Advantage was removed September 14, 2026, CHAC suspended a product October 1, and income limits update each June and September.
A Denver buyer earning $90,000 can realistically pair a $365,000 condo with $11,000 to $30,000 of deferred assistance and keep savings for reserves. The deferred loans are real debt that comes due when you sell, so treat them as a bridge, not a gift.
Frequently Asked Questions
Sources
- metroDPA program site
- metroDPA - Qualifications flyer (PDF)
- metroDPA - Income Limits, June and September 2026 (PDF)
- eHousingPlus - metroDPA TMS Administrator Guide, revised September 14, 2026 (PDF)
- eHousingPlus - metroDPA denFirstGen Administrator Guidelines, revised September 14, 2026 (PDF)
- City and County of Denver HOST - metroDPA
- City and County of Denver HOST - Affordable Home Ownership
- City and County of Denver HOST - 2026 Maximum Initial Sale Price (PDF)
- City and County of Denver HOST - 2026 HOME Income and Rent Limits (PDF)
- CHAC - Down Payment Assistance Program Descriptions
- CHAC - 2026 Income Limits (PDF)
- CHFA - Down Payment Assistance
For educational purposes only -- not financial or tax advice. Program details, funding availability, income limits, and benefit amounts change, often mid-year. Verify everything with the administering agency before you apply. Median home price: Redfin, Denver CO housing market: median sale price $596,716 for the three months ending September 2026 (+4.7% year over year; 2,082 homes sold in September, -11.8%; median 35 days on market), https://www.redfin.com/city/5155/CO/Denver/housing-market. Cross-checks: Denver Metro Association of Realtors September 2026 Market Trends Report, attached (condo/townhome) median close price $365,500 (-6.28%), detached year-to-date median $650,000, 2,849 closings, 4.76 months of inventory; Realtor.com median listing price for the Denver-Aurora-Lakewood metro, September 2026, $569,900 (FRED series MEDLISPRI19740).. Last verified: October 29, 2026.