Colorado

Down payment assistance for Colorado

Two programs listed below can help with the cost of buying a home in Colorado, and each can sit inside a riba-free structure.

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Metro Denver Down Payment Assistance

Sponsored by the City and County of Denver, this DPA program provides first-time homebuyers the leverage needed to secure the property. Get up to 6% of the first mortgage as assistance to cover down payment and closing costs as a zero-interest forgivable or deferred loan.

Learn more about the program here

Requirements

Minimum FICO score 640

Annual household income limit of $210,150

Must complete HUD- or CHFRA-approved homebuyer education course

Must move in to new property within 60 days from closing

Covers single-family homes, townhomes, condominiums, and manufactured homes

Colorado Housing and Finance Authority

CHFA's down payment assistance program provides homebuyers in CO additional funds to cover the down payment and closing costs for their new home. Can get a grant for up to 3% of the mortgage amount or a zero-interest deferred payment loan for 4% of the mortgage.

Learn more about the program here

Requirements

Minimum FICO score 620

Annual household income of $176

Must complete HUD- or CHFRA-approved homebuyer education course

Not limited to first-time homebuyer

Must contribute at least $1,000 of personal funds towards the transaction

Available programs

Features of Sharia-compliant programs

Through partnerships with investors, ijaraCDC offers a diverse list of programs that will fit the needs of any Muslim home buyer.

No Credit Program

Get a home even without established credit history.

Low Credit Program

Low credit score? No problem!

VA Program

Take advantage of VA housing offers for veterans.

Down Payment Assistance

Get up to 3.5% grant for your down payment.

USDA 100% Financing

100% financing for homes in USDA-designated areas.

Physician Program

Helping residents reside in their forever homes the sharia way.

Frequently asked questions

Colorado down payment questions

Our team answers by phone or email during business hours, and confirms what is available where you are buying.

Is down payment assistance available in Colorado?

Yes. The two programs listed above can help with the cost of buying in Colorado, and ijara CDC can pair them with a riba-free structure.

Can DPA be used with Sharia-compliant financing?

Yes. The assistance covers your contribution to the co-ownership, and the agreement itself stays free of riba.

How much can I receive?

It depends on the program and your household income. Contact us for the current position where you are buying.

How long does pre-qualification take?

About ten minutes, and it does not affect your credit.

What can I finance in Colorado?

Residential and commercial property, plus residential and auto conversions from an existing riba-bearing loan.