Downpayment Assistance


NEWSED Community Development Corporation

Policy and Procedures

NEWSED CDC Down Payment Assistance is provided for low to moderate income First-Time Homebuyers. NEWSED assists with a portion of down payment and closing costs associated with the purchase of a home. This program is a silent second loan no interest, no payments and will be due on sale of the property, transfer or in 30 years.

Program Requirements

  • The applicant’s housing ratio 35% and debt-to-income ratio, including housing cost, cannot exceed 45% of household income, as determined by HUD.
  • The applicant must demonstrate need for the funding and have no more than $10,000 in liquid assets.
  • The applicant must meet with NEWSED for a one-on-one counseling session and complete a First-Time Homebuyer Class at least 2 weeks before closing.
  • The aggregate household income of all residents who will reside in the home must be at or less than 80% of Denver Area Median Income (See chart below).
  • For an FHA-insured loan the applicant must contribute a minimum of 3.5% of the sales price toward the purchase of the home. For conventional loan, the applicant must contribute $1,000 toward the home purchase including earnest money.
  • The applicant must occupy the property as a primary residence.

If you have any question or would like more information, please contact

Veronica Acosta at 303-534-8342 ext. 133




Family Size Non-Federal IDA Limit

(80% of AMI)

100% AMI
1 $52,000 $65,000
2 $59,400 $74,300
3 $66,850 $83,600
4 $74,250 $92,800
5 $80,200 $100,300
6 $86,150 $107,700
7 $82,100 $115,100
8 $98,050 $122,500