Downpayment Assistance

Assistance is determined based on a borrower’s need. The loan is due on sale or transfer or in 30 years.

No interest, No payments required.

  • Borrower and Co-borrower must be a first time homebuyer
  • Borrowers must meet with a NEWSED counselor to apply for funding
  • First Time Homebuyer Class required
  • Property must be owner-occupied
  • Please Note: eligibility for down payment assistance is based on household income; all household income will be considered for eligibility.
  • Income limits: Borrowers household income must be under 80% of the area median income level (AMI), households with income over the 80% AMI are not eligible for the Down Payment Assistance, but can receive free one-on-one homebuyer counseling.

Household Size                       Maximum Household Income

1                                                                           $42,950

2                                                                           $49,100

3                                                                           $55,250

4                                                                           $61,350

5                                                                           $66,300

6                                                                            $71,200

Please note: Newsed CDC has similar assistance available to homebuyer who are purchasing a property located in Denver, Adams, Arapahoe, Jefferson, Douglas, and Broomfield counties.

For more information please contact Mercedes Fuentes, Housing Counseling Program Manager at 303-534-8342 x 124 or by email at mercedesfuentes@newsed.org

 

 

 

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