Colorado Homeownership Assistance for Black Coloradans

What is Colorado Homeownership Assistance for Black Coloradans?

Colorado Homeownership Assistance for Black Coloradans is a grant for homebuyers in Denver Metro, Colorado.

• DMAR has identified five dedicated homebuyer assistance funds specifically for Black Colorado homebuyers to help close the racial homeownership gap. Programs provide grants and DPA through partner nonprofits and lenders throughout the Denver metro area. Multiple programs and lenders available.
• Targeted homeownership grants for Black Colorado homebuyers.
• addresses racial homeownership gap.
• multiple funding sources via DMAR partner network.
• grant-based assistance.
• culturally competent counseling.
• Funding comes from Nonprofit, Industry, and Private.

Do you have to pay it back?

Colorado Homeownership Assistance for Black Coloradans is structured as a grant, so it is not repaid.

• Repayment is triggered by None — grant.
• 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?

Colorado Homeownership Assistance for Black Coloradans is open to first-time homebuyers and buyers who will live in the home as their primary residence.

What are the income limits?

Colorado Homeownership Assistance for Black Coloradans limits household income to 120% of the area median income, which varies by county and household size.

• Income up to 120% AMI; varies by specific partner program.
• 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?

Colorado Homeownership Assistance for Black Coloradans can be used for Single Family, Condo, and Townhouse.

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

Where does it apply?

Colorado Homeownership Assistance for Black Coloradans serves buyers purchasing in Denver Metro, Colorado.

• The program targets specific areas: Denver metro area (Denver, Adams, Arapahoe, Jefferson, Douglas counties).

How do you apply?

Applications for Colorado Homeownership Assistance for Black Coloradans go through the administering agency, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved homebuyer education; culturally competent counseling.

2. 2

   Contact the administering agency to reserve funds

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

3. 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.