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City of Broomfield Down Payment Assistance Program

Broomfield, Colorado

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Assistance

10%

Of the purchase price, as the program sets it

Income limit

80% AMI

Of area median income; varies by county and household size

Repayment

Deferred

No payments until the home is sold or refinanced

What is City of Broomfield Down Payment Assistance Program?

City of Broomfield Down Payment Assistance Program is a deferred second loan for homebuyers in Broomfield, Colorado.

  • Broomfield City and County (Colorado's unique combined city-county) provides deferred-payment DPA to first-time homebuyers purchasing within Broomfield. 0% interest; no monthly DPA payments.
  • DPA for Broomfield first-time buyers.
  • unique city-county.
  • deferred repayment.
  • 0% interest.
  • Funding comes from Local Government.

How much assistance does it provide?

City of Broomfield Down Payment Assistance Program provides assistance worth 10% of the purchase price, as set by the program.

  • The program can be combined with other assistance, subject to the rules of each.
  • Amounts are the program's published maximums, not an offer — the administering agency determines any individual award.

Do you have to pay it back?

City of Broomfield Down Payment Assistance Program is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

  • Repayment is triggered by Sale, Refinance, and Maturity Date.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

City of Broomfield Down Payment Assistance Program is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — the program sets its own definition
  • The home is occupied as a primary residence
  • A minimum 620 credit score
  • A completed homebuyer education course, through HUD-approved homebuyer education required
  • Residency: State Resident
  • Citizenship or immigration status: U.S. Citizen or Permanent Resident
  • Purchase within Broomfield (city-county); income at or below 80% AMI; first-time buyer

The program excludes

  • Manufactured homes
  • Households above 80% 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?

City of Broomfield Down Payment Assistance Program limits household income to 80% of the area median income, which varies by county and household size.

  • Income at or below 80% AMI; Broomfield County.
  • 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?

City of Broomfield Down Payment Assistance Program can be used for Single Family, Condo, and Townhouse.

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

Where does it apply?

City of Broomfield Down Payment Assistance Program serves buyers purchasing in Broomfield, Colorado.

  • The program targets specific areas: City and County of Broomfield.

How do you apply?

Applications for City of Broomfield Down Payment Assistance Program 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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City of Broomfield Down Payment Assistance Program, explained

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