What assistance is available in Grand Junction
The main path for Mesa County buyers is CHFA — the Colorado Housing and Finance Authority. CHFA pairs a 30-year fixed first mortgage with either a grant of up to 3% or a 0%, no-payment second mortgage of up to 4% of the first mortgage (each capped at $25,000) toward down payment and closing costs. Tayton Capital offers CHFA programs through a CHFA Participating Lender partner.
On a $415,000 Grand Junction home with an FHA loan of about $400,000, that is roughly $12,000 as a grant or $16,000 as a second mortgage — often most of the cash a buyer needs.
Who qualifies
CHFA programs require a 620 mid credit score, a CHFA-approved homebuyer education class before closing, at least $1,000 of your own money (a gift is allowed), and income within the program limit. CHFA SmartStep and Preferred use one statewide income limit; FirstStep and FirstGeneration have their own. The property must be your primary residence.
Some programs are first-time buyer only (FirstStep, FirstGeneration); others, like SmartStep, Preferred and CHFA HomeAccess for buyers with disabilities, are not. We match the program to your file rather than assuming one fits.
Stacking assistance with FHA or conventional
CHFA assistance comes with a CHFA first mortgage — FHA, VA or USDA-RD through SmartStep, or conventional through Preferred — so you still choose the loan type that fits best. Taking assistance means a slightly higher rate, so we compare both ways. Pairing DPA with an FHA loan at 3.5% down is the most common structure in Grand Junction.
Frequently asked
What down payment assistance is available in Grand Junction?
CHFA is the primary option: a grant of up to 3% or a deferred second mortgage of up to 4% of the first mortgage (capped at $25,000). Local programs may add more when funding is available.
Do I have to be a first-time buyer?
Not for every program. CHFA SmartStep and CHFA Preferred are open to repeat buyers. CHFA FirstStep is for first-time buyers (no home owned in the past three years), qualified veterans, or buyers in targeted areas, and CHFA FirstGeneration is for first-generation buyers.
Can I combine assistance with an FHA loan?
Yes. Pairing down payment assistance with an FHA first mortgage at 3.5% down is the most common structure for Grand Junction buyers.
Related: Down Payment Assistance, Grand Junction mortgage broker, Colorado loan limits, all loan programs.