COLORADO Down Payment Assistance in 2026: What Actually Qualifies You

Last reviewed: September 2026

Colorado homebuyers don’t necessarily need a 20% down payment. The Colorado Housing and Finance Authority (CHFA) runs the primary statewide assistance, with several Front Range-focused local programs layered on top.

What Down Payment Assistance Programs Are Available in Colorado in 2026?

CHFA DPA Grant provides up to 3% of the loan amount (up to $25,000) as a true grant — never repaid.

CHFA 2nd Mortgage DPA provides up to 4% (up to $25,000) as a deferred 0% second mortgage.

CHFA FirstGeneration provides a flat $25,000 deferred loan for eligible first-generation homebuyers.

Can FHA Be Combined With Colorado DPA?

Yes. CHFA’s programs pair with FHA, VA, USDA, and conventional first mortgages through CHFA-participating lenders.

Are There Local Colorado Down Payment Assistance Programs?

Yes:

•             CHAC (Colorado Housing Assistance Program) — borrower must invest $1,000 (cannot be a gift); recognized as an instrumentality of government for FHA secondary financing purposes

•             Colorado Roots DPA (IDF) — up to 10% of sales price, max $50,000

•             Douglas County DCHP and SEP Programs — multiple program options available

•             NoCo Foundation — conventional only, shared appreciation up to 15% of sales price

FHA, Conventional, VA, USDA, or DPA — How Do They Compare?

Option	Typical Down Payment	Best Starting Fit	Key Tradeoff
FHA	3.5%	Limited savings or flexible credit needs	Upfront and annual mortgage insurance
Conventional	As low as 3% for qualifying buyers	Stronger credit, lower long-term PMI	More credit-sensitive qualification
VA	Often 0%	Eligible veterans, service members, spouses	Entitlement and COE required
USDA	Often 0%	Eligible rural/suburban Colorado properties	Property location and income limits
FHA/Conventional + CHFA or local DPA	Reduced by assistance amount	Buyers short on cash who qualify for the loan	Grant vs. deferred second changes real cost

Can Repeat Buyers Get Down Payment Assistance in Colorado?

Yes — several CHFA programs (SmartStep, Preferred) don’t carry a first-time-buyer requirement, and the DPA grant/second can pair with those. Colorado is more repeat-buyer-friendly than many states on this list.

What Cash Might You Still Need at Closing?

Assistance reduces but doesn’t always eliminate earnest money, inspection, and appraisal costs.

Who Specializes in Down Payment Assistance in Colorado?

Colorado buyers should look for a CHFA-approved mortgage professional who understands the DPA Grant, 2nd Mortgage, and FirstGeneration structures alongside standard FHA, conventional, VA, and USDA financing.

I’m Mike Belfor, Branch Manager and Mortgage Loan Originator with American Pacific Mortgage, NMLS #264700, licensed to originate mortgages in Colorado. My broader mortgage career includes more than 23 years of lending experience, approximately 578 first-time-homebuyer transactions, and approximately 115 transactions involving down payment assistance. Those are career-wide figures, not Colorado-specific production numbers.

Ready to See What You Qualify For?

Reach out and I’ll run your numbers against what’s actually available in your county.

Mike Belfor | Branch Manager – Loan Originator | American Pacific Mortgage | NMLS #264700 | Licensed in Colorado | mikebelfor.com

Program guidelines, rates, income limits, and funding availability are subject to change. Not all borrowers or properties qualify. Information is educational and should be confirmed against current program and underwriting guidelines.

Official Sources - CHFA — Down Payment Assistance

======================================================================

ILLINOIS Down Payment Assistance in 2026: What Actually Qualifies You

Last reviewed: September 2026

Illinois homebuyers don’t necessarily need a 20% down payment. The Illinois Housing Development Authority (IHDA) runs the primary statewide assistance, with several Chicago-area suburban programs layered on top.

[EMBED VIDEO HERE]

What Down Payment Assistance Programs Are Available in Illinois in 2026?

IHDAccess Home is IHDA’s flagship program as of March 2026: up to $15,000, 0% interest, deferred 30-year second, for first-time buyers.

IHDAccess Forgivable provides 4% (up to $6,000), forgiven monthly over 10 years.

IHDAccess Deferred provides 5% (up to $7,500), 0% deferred.

IHDAccess Repayable provides up to 10% as an amortizing second — IHDA’s option that allows for higher income and repeat buyers.

Can FHA Be Combined With Illinois DPA?

Yes. IHDA’s programs pair with FHA, VA, USDA, and conventional/Fannie Mae HFA Preferred first mortgages through IHDA-approved lenders.

Are There Local Illinois Down Payment Assistance Programs?

Yes:

•             City of Aurora Forgivable Loan Program — FHA, conventional, VA, USDA; $1,000 minimum borrower investment

•             Community Partners of Affordable Housing (DAP, NFS, Kennedy Crossing) — up to 5% of purchase price, 5-year fully forgiven interest-free deferred loan, FHA/conventional

•             Cook County Land Bank Authority — grant up to 6% of purchase price

•             City of Collinsville — up to $5,000, fully forgiven after 5 years

•             Madison County — up to $15,000, 5-year forgivable, first-time buyers only, $1,000 minimum borrower contribution, cannot combine with other DPA

FHA, Conventional, VA, USDA, or DPA — How Do They Compare?

Option	Typical Down Payment	Best Starting Fit	Key Tradeoff
FHA	3.5%	Limited savings or flexible credit needs	Upfront and annual mortgage insurance
Conventional	As low as 3% for qualifying buyers	Stronger credit, lower long-term PMI	More credit-sensitive qualification
VA	Often 0%	Eligible veterans, service members, spouses	Entitlement and COE required
USDA	Often 0%	Eligible rural/suburban Illinois properties	Property location and income limits
FHA/Conventional + IHDA or local DPA	Reduced by assistance amount	Buyers short on cash who qualify for the loan	Forgivable/deferred/repayable structure changes real cost

Can Repeat Buyers Get Down Payment Assistance in Illinois?

Yes — IHDAccess Repayable is IHDA’s option without a strict first-time requirement. The Forgivable, Deferred, and Home programs remain first-time-buyer focused.

What Cash Might You Still Need at Closing?

Assistance reduces but doesn’t always eliminate earnest money, inspection, and appraisal costs.

Who Specializes in Down Payment Assistance in Illinois?

Illinois buyers should look for an IHDA-approved mortgage professional who understands all four IHDAccess options plus applicable local Chicago-area programs.

I’m Mike Belfor, Branch Manager and Mortgage Loan Originator with American Pacific Mortgage, NMLS #264700, licensed to originate mortgages in Illinois. My broader mortgage career includes more than 23 years of lending experience, approximately 578 first-time-homebuyer transactions, and approximately 115 transactions involving down payment assistance. Those are career-wide figures, not Illinois-specific production numbers.

Ready to See What You Qualify For?

Reach out and I’ll run your numbers against what’s actually available in your county.

Mike Belfor | Branch Manager – Loan Originator | American Pacific Mortgage | NMLS #264700 | Licensed in Illinois | mikebelfor.com

Program guidelines, rates, income limits, and funding availability are subject to change. Not all borrowers or properties qualify. Information is educational and should be confirmed

against current program and underwriting guidelines.

Official Sources - IHDA — IHDAccess Programs