Colorado Down Payment Assistance Fund (Impact Development Fund)

Colorado Down Payment Assistance Fund (Impact Development Fund) is a deferred second loan for homebuyers in Statewide, Colorado. Impact Development Fund (IDF) is a U.S. Treasury-certified nonprofit CDFI lender headquartered in Longmont, Colorado, with a 20+ year history of administering down payment assistance and affordable housing financing throughout Colorado, Nebraska, Utah, New Mexico, and Wyoming. IDF maintains a $180M+ revolving loan fund and administers more than 65 third-party public and private DPA programs on behalf of cities, counties, employers, banks, and nonprofits. The 'Colorado Down Payment Assistance Fund' is the umbrella through which IDF deploys its own and partner capital for homebuyer DPA loans statewide, including the $1.6 million Proposition 123 statewide DPA allocation IDF received for buyers in Prop 123-committed jurisdictions. Borrowers typically engage IDF through a specific partner program (e.g., Boulder H2O, Denver Metro DPA, Eagle County, FirstBank DPA, Dearfield Fund) rather than as a standalone consumer-facing 'IDF DPA' product; the program's terms (loan amount, interest rate, repayment trigger, income caps) follow those of the partnering program. Down payment assistance loans for Colorado homebuyers, administered by Impact Development Fund (IDF) on behalf of partner organizations (cities, counties, employers, nonprofits, banks). Specific loan amounts, interest rates, and terms vary by the partner program the buyer is matched to. As a CDFI, IDF also deploys its own Proposition 123-funded statewide pool for buyers in jurisdictions that have filed Prop 123 affordable-housing commitments. Funding comes from CDFI, State, Local Government, Bank/Employer Partners, and Proposition 123.

Colorado Down Payment Assistance Fund (Impact Development Fund) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off. Repayment is triggered by Varies by partner program and common structures include deferral until sale/refinance/transfer, shared appreciation, or amortizing payments. The assistance is recorded in 2 position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Colorado Down Payment Assistance Fund (Impact Development Fund) is open to homebuyers who will live in the home as their primary residence. On credit, the program states: Varies by partner program; FICO 620+ typical for the underlying first-mortgage and DPA pairing. A homebuyer education course is required, through HUD-approved homebuyer education encouraged; partner-program-specific education may be required. Residency requirement: Property must be located in Colorado (or other IDF-served state for non-Colorado partner programs) and be owner-occupied. Citizenship or immigration status: U.S. citizen or qualified non-citizen per partner-program and first-mortgage requirements. IDF is a U.S. Treasury-certified Community Development Financial Institution (CDFI) and CRA-eligible lender. The 'Colorado Down Payment Assistance Fund' is largely a behind-the-scenes administered fund: IDF manages 65+ third-party DPA loan funds for cities (Boulder H2O, Denver Metro DPA, Eagle County, Larimer, Douglas County, etc.), employers (FLC), banks (FirstBank DPA), and nonprofits (Dearfield Fund for Black Wealth). Eligibility, income caps, assistance amounts, repayment terms, and target geographies are determined by each partner program; IDF underwrites and services the loans. Buyers approach IDF through the relevant partner program. IDF also received $1.6M of Proposition 123 funds for statewide DPA in jurisdictions with filed Prop 123 commitments.

Colorado Down Payment Assistance Fund (Impact Development Fund) sets its income limit as follows: Varies by partner program. Partner programs administered by IDF range from 80% AMI floors (FirstBank DPA) to 150% AMI ceilings (Boulder H2O, Eagle County). Statewide Proposition 123 DPA pool follows Prop 123 program income standards (≤120% AMI or jurisdictionally filed limit). 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.

Colorado Down Payment Assistance Fund (Impact Development Fund) caps the purchase price as follows: Varies by partner program; no statewide cap published for the IDF-administered fund as a whole. Eligible property types include Single-family detached, Townhome, Condominium, and Manufactured home (per partner program). New construction is eligible. Manufactured homes are eligible.

Colorado Down Payment Assistance Fund (Impact Development Fund) serves homebuyers purchasing in Statewide, Colorado. The program targets specific areas: Statewide reach through 65+ partner programs covering Boulder, Denver Metro, Eagle, Garfield, Larimer, Douglas, Pitkin, La Plata, San Luis Valley, and other counties; Proposition 123 statewide allocation targets jurisdictions with filed Prop 123 affordable-housing commitments.

Applications for Colorado Down Payment Assistance Fund (Impact Development Fund) go through the administering agency, which publishes the current terms and the application steps on its own site. Funds are reserved through Through partner-program intake and IDF underwriting (consumerloans@impactdf.org). Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.