Down Payment On Your First Home

Depending on your circumstances, you might be able to buy your first home with no money down or very little money down.

No Money Down Loans

In today’s mortgage market, the only types of “no money down loans” are VA loans, offered by the Veteran Administrations for people who have served in the military or are active personnel.

First Time Home Buyers Programs

In Denver and the surrounding counties and cities, there are various first time home buyers programs available, some of which require as little as $500 or $1,000 down. For more information on the specifics of these programs, please call Andy Jorgensen, (303) 753-9135.

3. 5 % Down Payment

If you don’t qualify for one of the programs mentioned above, you’ll need to come up with a down payment of 3.5 % of the purchase price of the home. For example, on a $250,000 condo, townhome, loft, or house, you’ll need $7,500. Down payments can no longer be provided by the sellers, nor can they come from borrowed funds, but they can be gifts from family and friends.

Ask us about down payment assistance programs throughout the Denver metro area, including Aurora, Centennial, Englewood, Littleton, Wheat Ridge, Arvada, Lakewood, Golden, Broomfield, Westminster, and Brighton.