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Colorado homebuyer program raises income limits

Colorado down payment assistance program raises income limits.

The Colorado Housing & Finance Authority has raised the income limits for their down payment assistance program.

Now, applicants with up to two members in their households can make as much as $83,900 and still qualify. Households with three or more members can make as much as $96,400 and still obtain down payment assistance.

The CHFA program allows only require 3% down and in certain scenarios, they will grant you the entire amount. Now, your interest rate is going to be higher, but for those who can't seem to get that big chunk of money required, this can be a great way to stop renting, starting owning, and start building equity.

CHFA's announcement comes on the heels of a similar change by Denver's Metro Mortgage Assistance Program. (Hint, hint, if you're in Denver, the MMAP's limits are even higher.)

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