Buy your first Boulder home with as little as 3% down

With FHA financing you can put as little as 3.5% down — about $24,500 on a $700,000 home. Conventional loans for first-time buyers start at 3% down ($21,000 on the same home). Plan for closing costs on top, often a few percent of the price. CHFA down payment assistance can reduce what you bring to closing.

CHFA (Colorado Housing and Finance Authority) offers down payment assistance. Its second-mortgage option offers up to 4% of the first mortgage amount, up to $25,000, repaid when you sell, refinance or pay off the loan. Its grant option offers up to 3% (up to $25,000) with no repayment. Both come with a higher rate on the first mortgage. Income limits, a 620 minimum credit score and homebuyer education apply.

It depends on the price, your down payment, your other debts and current rates. Lenders look at your debt-to-income ratio — your total monthly debts, including the new payment, divided by your gross monthly income. Tell us the price range you're considering and we'll show you the income it takes and the payment it creates.

Yes. Gunbarrel, North Boulder and Table Mesa tend to be more accessible than central Boulder neighborhoods. Nearby Louisville, Lafayette, Superior and Longmont are also popular with first-time buyers who want to stay in Boulder County.

FHA allows a 580 credit score with 3.5% down, or 500–579 with 10% down. Most conventional lenders look for 620 or higher, and higher scores generally get better pricing. CHFA programs require a 620 minimum. We can review your credit and suggest steps to improve it before you apply.

Yes. Boulder's entry-level market moves quickly, and a pre-approval from a local lender shows sellers you're ready. A pre-approval includes a credit check. Rate-shopping inquiries within a short window generally count as one.