Mortgage guidance · Licensed state
Mortgage broker serving Colorado
Michael DuBois is a mortgage broker serving eligible buyers and homeowners in Colorado, one of 14 states where he is licensed through Stonebridge Mortgage Inc. For first-time buyers, Colorado Housing and Finance Authority (CHFA) publishes a homeownership program worth checking before you commit to a financing plan.
Which Colorado first-time-buyer resource is available?
CHFA FirstStep is published by Colorado Housing and Finance Authority (CHFA). CHFA’s official website describes FirstStep as a mortgage loan program restricted to first-time homebuyers, qualified veterans, or non-first-time homebuyers purchasing in designated targeted areas. The page states that it is FHA-only, uses a down-payment-assistance second mortgage (not a CHFA grant), has county/household-size/targeted-area income and purchase-price limits, and requires a pre-closing program-compliance review. CHFA says loans are delivered through participating lenders; it does not lend directly to consumers.
Program availability, rates and borrower eligibility change. Ask the agency or a participating lender to confirm the current rules for the property and your application.
How might Colorado property taxes affect the payment?
Colorado property-tax obligations and amounts can vary by property and local jurisdiction. The Colorado Department of Revenue’s official PTC Rebate page describes a separate, income- and age-limited rebate for qualifying full-year Colorado residents who paid property tax, rent, or heating bills; it is not a general property-tax exemption.
Official references: Colorado property tax guidance
Get a property-specific estimate from the local assessor or tax office; a seller's existing bill might not reflect your future taxes.
What should a Colorado buyer know about closing costs?
Closing costs may include appraisal fees, title insurance, government taxes, and prepaid items such as property taxes, homeowners insurance, and interest. The CFPB says the buyer generally pays transaction costs, although the contract or state law may shift some costs to the seller; credits may affect the price, loan amount, or interest rate.
References: CFPB: mortgage closing costs
Review the Loan Estimate and Closing Disclosure for your actual numbers and any credits or assistance. Michael can help you ask the right questions while the lender and settlement provider confirm the figures.
Colorado mortgage questions
Can CHFA FirstStep help with my down payment or closing costs?
FirstStep may help with the down payment through a second mortgage, not a CHFA grant. A CHFA Participating Lender can clarify whether the program may apply to your purchase and how eligible costs are handled.
Where can Colorado buyers check first-time-buyer programs?
Start with the Colorado Housing and Finance Authority (CHFA), which publishes FirstStep information and works through Participating Lenders. A lender can review current county, household-size, targeted-area, and buyer-status requirements with you.
How are property taxes handled in Colorado?
Colorado property taxes vary by the property and its local jurisdiction. Separately, the state’s PTC Rebate may be available to qualifying full-year residents who meet its income and age rules and paid property tax, rent, or heating bills; it is not a general exemption, so check with the Colorado Department of Revenue.
Which closing costs should a Colorado buyer plan for?
Budget for items such as the appraisal, title insurance, government taxes, and prepaid property taxes, homeowners insurance, and interest. The contract or applicable law may shift some charges to the seller, so review credits and the final allocation with your lender and settlement provider.
Does the CHFA FirstStep guarantee assistance?
No. FirstStep is subject to CHFA’s borrower and property limits and a pre-closing compliance review; its assistance is described as a second mortgage rather than a guaranteed grant. A Participating Lender must confirm your eligibility and terms.