Home Loan and Down Payment Assistance
metroDPA and metroDPA Social Equity
Promoting homeownership in our community can help
build generational wealth, strengthen the Front Range and bring
stability to its residents. At the end of the day, everyone has to love
somewhere and for those who aspire to own a home and start building
equity for themselves instead of paying rent year after year and helping
their landlord pay their mortgage and build wealth, I am committed to
helping my community achieve the American Dream.
What is metroDPA?
Metro Down Payment Assistance (metroDPA) is a program sponsored by the
City & County of Denver helping people throughout the Front Range become
homeowners. It provides a home loan and down payment assistance to help
people become homeowners throughout the greater Denver metropolitan
Who is Eligible?
For metroDPA: Anyone making up to $176,700/year with minimum
credit score of 640 are eligible for a home loan and down payment
assistance to purchase a home
throughout the greater Denver metropolitan area.
For metroDPA Social Equity: Residents and direct descendants (the
child or grandchild) of residents who lived in a Denver neighborhood
that was redlined between 1938 and 2000 are
eligible for the metroDPA Social Equity program. The
metroDPA Social Equity program was specifically designed to help
residents who lived in
areas that were historically targeted by
discriminatory lending practices like redlining*.
Denver Department of Housing Stability (HOST) is strongly committed to
equity and utilizing data and programs to ensure that race is no longer
a predictor of housing outcomes. Proof of eligibility must be
supplied to the Denver Department of Housing Stability (HOST) and is
subject to approval by HOST. If someone qualifies, they may be eligible
to receive $15,000 or $25,000 (depending upon their income) and must be
approved to use a metroDPA home loan.
* Redlining is the practice of denying a creditworthy applicant a
loan for housing in a certain neighbor hood even though the applicant
may otherwise be eligible for the loan.
Is this FREE assistance only available to
No. Everyone is encouraged to participate!
Do I have to live in Denver or buy a home in
Denver to apply?
No. The metroDPA and metroDPA Social Equity programs are
available to qualified applicants so long as the home they are
purchasing is located in greater Denver metropolitan
area (full list of cities & counties available).
How does the program work and how much can I
get towards a down payment?
For metroDPA: Assistance up to a percentage of the
home loan (first mortgage loan) amount for your down payment in the form
of an interest-free, 3-year forgivable second mortgage – there are no
scheduled payments and you don’t have to pay the assistance loan (second
mortgage) back if you stay in the home for three years!
For metroDPA Social Equity: If you are eligible and approved for
the metroDPA Social Equity program, you may be eligible for $15,000 or
$25,000 towards your down payment or closing costs. This is also an
interest-free, 3-year forgivable assistance loan (second mortgage). The
home loan available for the Social Equity program is the metroDPA’s
lowest available interest rate for the type of home loan.
Does this program have any other requirements?
You must use a metroDPA-approved lender to obtain a
30-year fixed rate home loan (first mortgage) in order to receive down
payment assistance. The mortgage can be FHA, VA or USDA loan or a
conventional loan and will be determined in cooperation with your
lender. Not all mortgage lenders have the expertise to navigate through
this program. If you need to determine if your lender is a
metroDPA-approved or if you need a referral to a local mortgage lender
who is, please contact Anthony Rael at 303.520.3179
What is a second mortgage?
The assistance loan is in the form of a second mortgage, which creates a
lien on the property for a specific amount of time. In this case, the
amount of time is three years after the date of closing on the home. The
loan is forgiven over a three year period. You may sell or refinance
your home before the end of the three years and only repay the
unforgiven portion on a pro-rated basis.
What does "forgivable" second mortgage mean?
Over the first three years (36 months) of ownership, the
down payment assistance is forgiven 1/36th each month. After the third
anniversary (36 months) of closing, you will not have to repay any
portion of the assistance you received. If you sell or refinance before
the 36 months is up, you must pay back the remaining portion of the
loan. Example: A borrower received $10,000 in
assistance and 28 months after closing they decide to refinance their
home. They are going to owe back a portion of the assistance they
received. Remember, the assistance is forgiven at 1/36th per month which
means, in month 28 after closing, $7,777 of the $10,000 amount has been
forgiven. So, the borrower will owe $2,223 when they refinance or sell
What can the down payment assistance funds be
The assistance may be used for the down payment required
by FHA, Conventional, USDA and VA loans. The assistance may also be used
for customary closing costs, pre-paids or principal reduction of the
home loan. The assistance funds cannot be used to pay the
difference between the sales price and appraised value (aka "appraisal
gap"), to pay down any borrower’s debt or any portion of the real estate
agent's compensation or any scenario where the homeowner would receive
any cash back.
I'm interested in this program. What's
the next step?
Reach out to Anthony Rael at 303.520.3179 (text is fine)
or use my contact form to submit a request
online. We'll talk about your desire to become a homeowner and
getting you started on the pre-approval process with a reputable local
mortgage lender so you will know exact how much you can afford and which
program you may be qualified for.
Below are additional Buyer resources:
Home Buyer's Guide |
HomeSnap App |
How Much Is
Your Home Worth? |
Denver Market Reports
& Testimonials |
'Just Call Ants'
RESIDENTIAL REAL ESTATE /
NEW HOME CONSTRUCTION /
FIRST-TIME BUYERS /
INVESTMENT PROPERTIES /
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