Buying a home in Colorado metro area can feel difficult when home prices, interest rates, closing costs, and down payment requirements all hit at once.
For many buyers, the biggest question is simple:
Can I actually afford to get into a home?
metroDPA is one of the main down payment assistance programs available to buyers throughout the Front Range. It may help eligible buyers reduce the amount they need upfront by providing assistance that can be used toward a down payment, closing costs, prepaid costs, or principal reduction.
But metroDPA is not the right fit for every buyer.
Your eligibility can depend on your income, credit score, loan type, lender, property location, and whether another Colorado down payment assistance program may work better for your situation.
At Colorado Down Payment Assistance Center, our goal is to make the process easier to understand. We help buyers compare their options, understand what they may qualify for, and take the next step with more confidence.
Check whether metroDPA or another program makes more sense for you.
What Is metroDPA?
metroDPA stands for Metro Down Payment Assistance.
It is a homeownership assistance program sponsored by the City and County of Denver. The program is designed to help eligible buyers purchase a home in Denver and many communities along the Front Range.
The program works by pairing a first mortgage with down payment assistance. That assistance is based on 4% of the first mortgage loan amount.
For example, if you use metroDPA down payment assistance on a $400,000 loan, you would receive $12,000 to help toward down payment and closing costs.
The assistance is not simply a cash payment to the buyer. It is done through the lending process and must be handled through an approved metroDPA lender, which we help you walk through every step of the way.
How Does metroDPA Down Payment Assistance Work?
metroDPA assistance is usually structured as a second mortgage.
That second mortgage is:
- Deferred
- Interest-free
- Not paid monthly
- Repaid later when certain events happen
In plain English, this means you do not make monthly payments on the assistance - it is a 0% second mortgage. The assistance is repaid through certain trigger events, such as selling your home or refinancing.
The metroDPA assistance is a 0% interest, 30-year deferred second mortgage. Repayment is deferred unless the home is sold, transferred, refinanced, the borrower stops living in the property, or the 30-year term is reached.
That is one of the most important things for buyers to understand:
metroDPA can reduce your upfront cost, but the assistance is repaid later.
Like many CHFA options, this is a great choice for buyers with certain financial situation.
How Much Assistance Can metroDPA Provide?
The amount of assistance can vary based on the metroDPA product, loan type, and current program offerings..
There are assistance programs that provide 3% to 4% of the purchase price, and a Denver Advantage option offering 5% assistance for qualified buyers purchasing in the City and County of Denver.
The assistance may be used for eligible costs such as:
- Down payment
- Closing costs
- Prepaid costs
- Principal reduction
The down payment assistance may be used for the down payment required by FHA, Conventional, USDA, and VA loans, as well as customary closing costs, and prepaids. It may not be used for certain items such as paying the gap between sales price and appraised value, borrower debt, realtor compensation, or creating cash back to the buyer.
Because rates and assistance amounts can change, we will look at your situation and help you decide what is best for you!
Who Qualifies for metroDPA?
metroDPA eligibility depends on several factors.
The program is not based on just one simple question like “Are you a first-time home buyer?” or “Do you live in an approved area?”
A buyer may need to meet rules around:
- Income (under $215K/year)
- Credit score (620+)
- Loan type
- Property location (in an approved area along the Front Range)
- Occupancy
- Homebuyer education
- Approved lender requirements
So the safer way to think about it is:
You may be in range with a 620+ credit score, but your actual requirement can depend on the loan, lender, and underwriting rules.
Do You Have to Be a First-Time Home Buyer for metroDPA?
No. metroDPA does not have a first-time home buyer requirement.
There is no first-time homebuyer requirement and no restriction on using the program more than one time.
This is useful for buyers who have owned before but still need help with upfront costs.
That said, first-time buyers can still use metroDPA if they meet the program rules. Many people searching for metroDPA are first-time buyers because down payment and closing costs are often the biggest barriers to buying a first home.
metroDPA Income Limits
Income limits are one of the key parts of metroDPA eligibility. Generally, there are options all the way up to $215K/year income. These numbers can change, and the way income is counted can depend on loan type.
The practical takeaway:
Do not assume you are over or under the limit based only on your gross household income. We will help you calculate income the right way for the program and loan type.
Where Is metroDPA Available?
metroDPA works up and down the Front Range in approved areas.
Eligible areas include many cities and towns across the Front Range, including Fort Collins, Loveland, Greeley, Windsor, Wellington, Longmont, Thornton, Northglenn, Westminster, Wheatridge, Littleton, Broomfield, Arvada, Brighton, Boulder, Erie, Louisville, Denver, Highlands Ranch, Aurora, Centennial, Littleton, Golder, Parker, Castle Rock and surrounding communities all the way down to Colorado Springs.
We will help verify a property you choose has a location that qualifies.
metroDPA Denver Advantage
metroDPA also has a Denver Advantage option.
metroDPA Denver Advantage is a limited program for qualified borrowers purchasing in the City and County of Denver. It offers lower rate options and 5% assistance in the form of a 0% interest, 30-year deferred second mortgage that is paid back when you sell or refinance.
But Denver Advantage is not the same as standard metroDPA availability across the wider Front Range. If you are buying outside Denver County, the standard metroDPA rules and other Colorado assistance options may be more relevant. We will help you choose which option is best for you!
What Loan Types Can Be Used With metroDPA?
metroDPA can work with several common loan types.
The current program guide lists eligible loan products including FHA, FHA 203(b), FHA 203(k) streamlined, USDA Rural Development, VA, Fannie Mae HFA Preferred, and Freddie Mac HFA Advantage conventional loans.
This means metroDPA may be available across different buyer situations, including buyers using FHA, VA, USDA, or conventional financing.
The right loan type will depend on your credit, income, debt-to-income ratio, military status if using VA, location if using USDA, available savings, and long-term payment comfort.
Homebuyer Education Requirements
metroDPA requires homebuyer education.You must complete homebuyer education before closing. We will help you meet this requirement.
This is normal for many assistance programs.
A good homebuyer education course can help you understand:
- How mortgage approval works
- What closing costs are
- How to compare loan options
- What happens between contract and closing
- How to plan for ownership after you move in
For first-time buyers, this can be a helpful part of the process rather than just a box to check.
Is metroDPA a Grant?
The main metroDPA assistance is a deferred second mortgage. It has 0% interest and no monthly payments, and has to be paid back when you sell or refinance.
That means the assistance can still be very helpful, but buyers should understand that it may need to be repaid later.
Some buyers prefer a grant-style option if available. Others prefer a deferred second mortgage if it helps them buy sooner and keep more savings available for the move, repairs, or reserves.
The best choice depends on the full mortgage structure, not just the assistance amount.
metroDPA vs Other Colorado Down Payment Assistance Programs
metroDPA is one option.
It may be a strong fit if you are buying in Denver or another eligible Front Range area, meet the income and credit guidelines, are working with an approved lender (we can help with this), and are comfortable with the second mortgage structure.
But it may not be the best fit for every buyer.
Other Colorado down payment assistance options may make more sense depending on:
- Where you are buying
- Whether the property is in an eligible metroDPA area
- Your income
- Your credit score
- Whether you want grant-style assistance or a deferred second mortgage
- Which lender you are using
- Which mortgage product gives you the best monthly payment
- Whether seller-paid closing costs are possible
- How long you expect to keep the home
This is why we will help you compare options before choosing a program.
A larger assistance amount is not always the best deal if it comes with a higher interest rate or a structure that does not fit your plans and financial situation.
Common Buyer Scenarios
You are buying in Denver
metroDPA may be worth checking, especially because Denver Advantage may apply to qualified buyers purchasing in the City and County of Denver.
You should compare metroDPA with other Colorado assistance options and look closely at monthly payment, interest rate, and repayment terms.
You are buying along the Colorado Front Range
metroDPA may still be available if the property is in an eligible area.
The exact address matters. We will verify whether the home is within an eligible lending area.
You are not a first-time home buyer
metroDPA may still be possible because the program does not require you to be a first-time home buyer.
This can be useful for repeat buyers who have income for a mortgage but need help with upfront costs.
You have limited savings
metroDPA may help reduce the amount needed upfront. But you may still need some money for earnest money, inspection, appraisal, moving costs, reserves, or costs not covered by the program.
You should get a clear estimate before assuming the assistance will cover everything.
Pros and Cons of metroDPA
Benefits
metroDPA may help buyers:
- Reduce the upfront money needed to buy
- Use assistance toward down payment or closing costs
- Buy in Denver or eligible Front Range areas
- Access FHA, VA, USDA, or conventional loan options
- Avoid monthly payments on the down payment assistance
- Use a program that does not require first-time buyer status
Drawbacks
metroDPA may not be ideal if:
- The property is outside the eligible area
- Your income is over the limit
- Your credit score or loan type does not qualify
- Another program offers a better payment structure
- You do not want a second mortgage
- The interest rate tradeoff does not make sense
- You plan to refinance or sell quickly and do not want repayment triggered
The right question is not just “Can I get metroDPA?”
The better question is:
Does metroDPA give me the best overall path into a home compared with my other options?
How to Check Whether metroDPA Makes Sense
The best way to check your options is to look at the full picture.
That includes:
- Where you want to buy
- Your income
- Your credit score
- Your estimated price range
- Your loan type
- Your monthly payment comfort
- How much you have saved
- Whether seller concessions may be possible
- Whether metroDPA, CHFA, or another program fits better
A buyer may qualify for more than one form of help. The right choice often comes down to the details.
At Colorado Down Payment Assistance Center, we help buyers understand these details before they move too far into the process.
Get Help Comparing Your Denver Down Payment Assistance Options
metroDPA can be a useful program for many Denver and Front Range buyers.
But it is not the only option.
You may be better served by metroDPA, CHFA, another Colorado assistance program, seller-paid closing costs, or a different loan structure entirely.
The first step is to check what you may qualify for and what makes the most sense for your situation.
Buying in the Denver metro area or along the Front Range? We can help you compare metroDPA with your other Colorado down payment assistance options.
Frequently Asked Questions About metroDPA
What is metroDPA?
metroDPA is a down payment assistance program sponsored by the City and County of Denver. It helps eligible buyers purchase homes in Denver and participating Front Range areas by pairing a first mortgage with assistance that can be used toward eligible home-buying costs.
Is metroDPA only for Denver?
No! metroDPA is available in many participating Front Range cities and counties. Denver Advantage is limited to the City and County of Denver, but the wider metroDPA program applies in other eligible areas.
Do I have to be a first-time home buyer to use metroDPA?
No. There is no first-time homebuyer requirement.
What are the metroDPA income limits?
There are many options for income under $215K for many FHA, USDA-RD, VA.. Lower limits may apply for certain at-or-below-80%-AMI, and those limits vary by county.
What credit score do you need for metroDPA?
There is a minimum 620 credit score for FHA, VA, USDA, and conventional loans. The required score can depend on the lender, loan product, and agency guidelines.
Is metroDPA a grant?
The main metroDPA assistance is generally structured as a 0% interest, 30-year deferred second mortgage, not a grant. It does not require monthly payments, but it may need to be repaid when the home is sold, refinanced, transferred, no longer occupied as the buyer’s primary residence, or the second mortgage reaches its term.
How much assistance can I get with metroDPA?
The amount can vary by product and current program offerings. Generally, there are options for 3% - 4%, and, for qualified Denver Advantage buyers, 5% of the note amount.
Can metroDPA be used for closing costs?
Yes. The down payment assistance may be used for down payment, customary closing costs, prepaids, or principal reduction, subject to program rules.
What loan types work with metroDPA?
metroDPA works with FHA, VA, USDA-RD, Fannie Mae HFA Preferred, and Freddie Mac HFA Advantage conventional loans among eligible products.
Do I need homebuyer education for metroDPA?
Yes. Buyers must complete approved homebuyer education before closing. We will help you satisfy this requirement.
Is metroDPA better than CHFA?
It depends. metroDPA may be a good fit for some Denver and Front Range buyers, while CHFA or another Colorado assistance option may work better for others. The best choice depends on your income, credit, location, loan type, monthly payment, and how the assistance is structured. We will look at all the options and determine what is best for you!