Great news for homebuyers in Aurora, CO: the city has reintroduced a powerful down payment assistance (DPA) program that can cover up to 10% of a home’s purchase price. As a mortgage professional, I see this as a major opportunity for buyers who are struggling with upfront costs — especially in today’s market.
The program is funded by a $720,000 state grant from the Colorado Department of Local Affairs, backed by Proposition 123, which created the State Affordable Housing Fund. Aurora previously offered DPA, but the city paused it during the pandemic. With more stable market conditions and new state resources, the assistance is now back and stronger than before.
Why This Matters for Buyers
Down payment funds remain one of the biggest barriers to homeownership. Aurora already provides rental assistance, financial literacy programs, and affordable housing initiatives — but this DPA program fills a critical gap by helping qualified buyers bridge the upfront cash requirement.
In this round, the city expects to help 24 households, and the goal is to expand the impact over time.
Program Highlights:
- Covers 4%–10% of the purchase price
- Structured as a silent second loan — no monthly payments
- The loan is only repaid when the buyer sells, refinances, or pays off their primary mortgage
- Income eligibility up to 120% of Area Median Income
- For example: up to $168,120 for a family of four
- Buyer must purchase a home within Aurora city limits
- Minimum buyer contribution: $1,000 out of pocket
- Priority given to applicants based on income need and factors such as improving access to better schools
This “silent second” structure is an advantage — it reduces upfront costs without adding monthly debt, helping more buyers qualify and stay within budget.
Who Should Apply
Buyers who are:
- Pre-qualified or pre-approved for a mortgage
- Working with a real estate agent
- Searching for a primary residence in Aurora
- In need of help with upfront costs
The application process takes about 30–45 days, so I recommend reaching out early to make sure funding aligns with your closing timeline.
Program Availability
The DPA program runs through October 31, 2026, or until funds run out — whichever comes first.
How to Apply
Interested buyers can contact the city directly at:
brcarter@auroragov.org
303-739-7900
Or visit the city’s website for full details.