Community Housing Resource Development: Denver, CO Colorado
NSP2 Home Buyer Assistance Program

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NSP2 Home Buyer Assistance Loan

Amounts and Terms

The program offers a forgivable loan to qualified borrower(s) set at a minimum five thousand dollars ($5,000.00) and up to twenty-five percent (25%) of the homes appraised value, depending on need, with the maximum amount of assistance capped at fifty thousand dollars ($50,000).

The loan is recorded as a second mortgage lien with a fifteen (15) year forgivable affordability period.


***Eligibility Requirements

  • Attend eight (8) hours of Home Buyer Education and housing counseling with CRHDC
  • Total household income must be at or below 120% of the Area Median Income (AMI)
  • Proof of Citizenship or Legal Resident status
  • Borrower(s) must occupy property as their Primary Residence (no rental property allowed
  • Borrower(s) must contribute one thousand dollars ($1,000.00) of their own money into the transaction

Qualifying Ratios and Guidelines
Ratios - 31/43
Credit -

  • 600+ Middle Credit Score
  • Borrower(s) must have at least four active lines of credit with no late payments for at least 12 months.  Non-traditional Credit Letters must be on company letterhead with a contact name and phone number
  • All collections and judgments must be paid in full prior to closing
  • Bankruptcies must be discharged for a minimum two (2) years with no derogatory credit from the time of discharge
  • Two (2) years consecutive work history in the same line of work

Rental Verification - Must be on the credit report or on a standard verification form and must cover at least 12 months 
Income Verification – Three Years of Tax returns, three months of bank statements, thirty  days current paystub(s)
Employment Verification -  Written employment verification required, indicating two (2) years consecutive work history in the same line of work


Fees (included in closing costs):

  • $600.00 Loan Application Fee

  • $30.00 Wire Transfer Fee (if applicable)

  • Applicable Recording Fees

  • Standard Title Insurance Fee

Please call 303-428-1448 to talk to one of our Loan Specialists for more information.

***Loan available only for participants in CRHDC's NSP2 Program

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Contact Us

Denver Metro:
7305 Lowell Boulevard,
Suite 200
Westminster, CO 80030
Phone (303) 428-1448
Fax (303) 428-1989
TTY (720) 542-6579
Email Us

San Luis Valley:
1016 West Avenue
Box #1
Alamosa, CO 81101
Phone (719) 589-1680
Fax (719) 589-1688