First-Time Homebuyer’s Guide to the Denver Market – Including Grants, Programs, and Local Tips
Buying your first home is an exciting milestone—but in the fast-moving Denver real estate market, it can also feel a little overwhelming. Between competitive offers, rising prices, and navigating loans, it’s easy to wonder where to start. This guide breaks down what you need to know as a first-time homebuyer in Denver, along with valuable local programs that can help you get into your dream home faster.
1. Understand the Denver Market
Denver’s housing market is known for its strong demand and low inventory, which means homes can move quickly—especially in popular neighborhoods.
- Median Home Price (2025): Around $575,000 in the Denver Metro area.
- Average Days on Market: Often less than 30 days for well-priced homes.
- Competition: Multiple offers are still common, particularly for move-in-ready homes under $600K.
Local Tip: Have your pre-approval ready before you start touring homes so you can act quickly when you find the right one.
2. First-Time Homebuyer Grants & Programs in Denver
Colorado Housing and Finance Authority (CHFA)
- Offers fixed-rate loans, down payment assistance, and homebuyer education.
- Income and purchase price limits apply.
Metro Mortgage Assistance Plus Program
- Provides up to 5% of the loan amount for down payment or closing costs.
- Available to first-time and repeat buyers in Denver and certain surrounding areas.
Denver Metro Mortgage Assistance Program
- Similar to the Metro Mortgage Assistance Plus but focused on specific metro communities.
USDA Loans (Certain Rural Areas)
- Zero down payment for qualifying rural and suburban areas—yes, parts of Douglas County and outskirts of Denver qualify.
FHA Loans
- Low down payment (as little as 3.5%) with flexible credit requirements.
Local Tip: Many buyers qualify for more than one program—layering assistance can make your out-of-pocket costs surprisingly low.
3. How to Compete in the Denver Market as a First-Time Buyer
- Work with a local realtor who knows neighborhood trends and seller expectations.
- Be flexible on location—consider up-and-coming areas like Wheat Ridge, Arvada, or parts of Littleton for better value.
- Sweeten your offer with fewer contingencies, a quicker closing, or covering small inspection items yourself.
4. Neighborhoods Popular with First-Time Buyers
- Lakewood: Close to the city, with parks and light rail access.
- Aurora: More affordable with diverse housing options.
- Littleton: Small-town feel with top schools.
- Arvada: A balance of charm, walkability, and growing amenities.
5. Final Thoughts
Buying your first home in Denver is all about preparation and strategy. Take advantage of the grants and programs available, work with a team that knows the local market inside and out, and be ready to act when the right home hits the market.
If you’re ready to start your homebuying journey, we can connect you with trusted lenders, set you up with instant property alerts, and guide you every step of the way—so your first home purchase is as exciting as it should be.
Cheers,
Sam & Tess Hegedus
