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Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded)

Statewide County, Colorado

Last verified
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Income limit

150% AMI

Of area median income; varies by county and household size

Repayment

Grant

Not repaid

What is Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded)?

Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded) is a grant for homebuyers in Statewide County, Colorado.

  • Bank of Colorado's HOPE program extends DPA grants up to $15,000 to non-first-time homebuyers at income levels up to 150% AMI. No first-time buyer requirement. Funded by FHLB Topeka. Available statewide through Bank of Colorado. Covers down payment, closing costs, and purchase-related repair.
  • DPA grant up to $15,000 for non-first-time homebuyers.
  • higher 115% AMI limit.
  • down payment, closing cost, and repair assistance.
  • FHLB Topeka-funded.
  • statewide through Bank of Colorado.
  • no first-time buyer requirement.
  • Funding comes from Federal (FHLB Topeka) and Private Bank.

Do you have to pay it back?

Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded) is structured as a grant, so it is not repaid.

  • Repayment is triggered by Sale and Move out during retention period.
  • The assistance is recorded in None — grant position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded) is open to buyers who will live in the home as their primary residence.

The program requires

  • The home is occupied as a primary residence
  • On credit: 620 minimum FICO
  • A completed homebuyer education course, through HUD-approved homebuyer education required
  • Residency: State Resident
  • Citizenship or immigration status: U.S. Citizen or Permanent Resident
  • No first-time homebuyer requirement; income at or below 150% AMI; must use Bank of Colorado; primary residence purchase

The program excludes

  • Manufactured homes
  • Households above 150% of area median income

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded) limits household income to 150% of the area median income, which varies by county and household size.

  • At or below 150% AMI statewide; broader eligibility than HSP — expanded for workforce buyers.
  • The limit applies to total household income, not only the borrower’s.
  • Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

What kind of home can it be used for?

Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded) can be used for Single Family, Condo, and Townhouse.

  • New construction is eligible.
  • Manufactured homes are not eligible.

Where does it apply?

Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded) serves buyers purchasing in Statewide County, Colorado.

How do you apply?

Applications for Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded) go through the administering agency, which publishes the current terms and the application steps on its own site.

  1. Take a homebuyer education course

    Required by the program, through HUD-approved homebuyer education required.

  2. Contact the administering agency to reserve funds

    Funds are reserved through First-Come-First-Served, and are subject to availability.

  3. Work with a lender who handles the program

    Hey Prescott is not a lender and does not accept applications; this page describes the program so a buyer can take it to a lender or housing counselor.

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Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded), explained

A short, free course on Bank of Colorado Destination Home - HOPE (Homeownership Possibilities Expanded): what it is, who it is for, whether it has to be paid back, where it applies and how to apply. Based on program data from July 2026. About ten minutes.

5 modules · About 10 minutes

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