You can afford a home in Colorado. The gap is usually not income, it is education. Johnny bridges that gap: credit repair, budgeting, down payment assistance, CHFA loans and the real numbers for your first purchase, taught by a lender who has also sat on the buyer's side of the table.
Less than the old 20 percent myth suggests. VA and USDA buyers can put zero down. Many Conventional programs accept 3 percent for first-time buyers, FHA takes 3.5 percent with a 580 credit score in most lender guidelines, and CHFA down payment assistance can cover up to $25,000 for qualified buyers. Your real number is your total cash to close: down payment plus closing costs, which Johnny will itemize for your price range before you shop.
FHA guidelines reach down to a 580 credit score with 3.5 percent down, and lower with a bigger down payment. VA does not set a minimum, though lenders have their own floors, and Conventional programs price by score tier. If your credit needs work, that is a plan, not a dead end: Johnny starts clients on a credit repair roadmap and tells you how many months it will realistically take to get ready.
Yes, in a few ways. VA offers zero-down financing with no monthly mortgage insurance for those who qualify. USDA backs 100 percent financing in eligible areas. And CHFA assistance effectively covers the down payment for many qualified Colorado buyers. The trick is qualifying with income, credit and debt-to-income, which is exactly the analysis Johnny runs before you commit.
Closing costs are the fees to build the loan and transfer the home: appraisal, title, lender fees, taxes and prepaids. They are separate from the down payment and typically run in the thousands on an average Colorado purchase. Sellers can contribute toward a buyer's costs on many programs, and some assistance programs cover them too. Expect a line-item estimate before you offer, not a surprise at the table.
Whichever one costs you least across the time you plan to own the house. VA wins for most eligible veterans. CHFA wins for many buyers who need help with the down payment. FHA wins for flexible low-down payment, and Conventional rewards stronger credit with lower long-term cost and an off-ramp from mortgage insurance. Johnny compares your real numbers across all four, because the answer should come from a spreadsheet, not a habit.
Colorado's housing authority pairs 30-year fixed FHA, VA and USDA loans with down payment assistance that can reach $25,000: a grant that does not have to be repaid, or a 0 percent interest second mortgage with no monthly payment. Johnny works CHFA files regularly and is the first to tell you when it fits and when it does not.
For veterans and active service members. No monthly mortgage insurance. Reusable.
100 percent financing in eligible rural and some suburban Colorado areas.
Flexible credit path with 580 score in most lender guidelines.
Strong-credit option with mortgage insurance that drops off as you build equity.
State mortgage paired with a grant or 0 percent second for qualified buyers.
Builder financing compared against the market so you keep the best rate.
A real look at your score, your credit report and what will move the number in 60 to 120 days.
What you actually spend, what you can save, and the payment you can live with, not stretch for.
VA, FHA, USDA, Conventional or CHFA, plus down payment assistance, matched to your file.
A documented pre-approval you can shop with, built on income you can prove and a plan you trust.
Education before application: Johnny runs and recommends first-time buyer workshops, and he will gladly walk you through the terms, the costs and the traps before you sign anything. You will not hear jargon you have to Google later.
FHA and Conventional are the two most common Colorado home loans. Compare down payments, credit requirements, mortgage insurance and which one fits your plan.
VA loans in Colorado Springs: zero down, no monthly mortgage insurance, reuse rules, and buying near Fort Carson, Peterson, Schriever and the Air Force Academy.
From zero down with VA to 3.5 percent with FHA, 3 percent Conventional and CHFA assistance up to $25,000, here is what Colorado buyers really need to bring.
CHFA SmartStep, FirstStep, FirstGeneration and Schools To Home deliver Colorado down payment assistance up to $25,000. Here is how to use them in 2026.
Bring your credit score, your rent payment and your questions. Johnny will tell you the honest timeline to your first pre-approval, and the first three steps to take this week.
Licensed in Colorado · NMLS #333811 · No pressure, no jargon, no obligation