Buying your first home in Colorado can be exciting and overwhelming. With rising housing costs, competitive bidding, and a wide range of financing options, choosing the right mortgage lender is key to a successful home purchase. This guide highlights the best mortgage lenders for first-time buyers in Colorado, along with helpful programs and tips to make your journey smoother.

1. Security First Financial

Security First Financial is a top-rated Colorado-based lender, well-known for working with the Colorado Housing and Finance Authority (CHFA). They offer multiple first-time buyer programs, including down payment assistance of up to $25,000. With responsive customer service and low closing costs, they are a trusted choice for beginners.

2. New American Funding

New American Funding provides a specialized “Pathway to Homeownership” program for first-time buyers, offering up to $6,000 in assistance. They are also a CHFA-approved lender and offer flexible credit requirements and competitive FHA and conventional loan options.

3. ENT Credit Union

ENT Credit Union is one of Colorado’s largest credit unions and offers a first-time buyer loan with low down payment options and local underwriting. ENT also participates in CHFA programs and provides special perks to Colorado residents, including lower origination fees.

4. On Q Financial

For buyers looking for national reach with a local presence, On Q Financial offers a great mix of FHA, VA, and USDA loan options. Their SmartStart program is designed for first-time homebuyers and includes down payment assistance tailored to Colorado residents.

5. American Financing

American Financing, based in Colorado, is known for offering personalized lending solutions and access to CHFA-backed programs. Their team specializes in educating first-time buyers and offering no upfront fees on most loans.

6. Home Trust Mortgage

Home Trust offers some of the most accessible down payment assistance programs in Aurora and the Denver metro area. Partnering with local grant and bond programs, they help many buyers get into a home with little to no money down.

Additional Assistance: CHFA Programs

Many of the above lenders work with CHFA (Colorado Housing and Finance Authority), which offers competitive mortgage rates, down payment assistance grants, and a required homebuyer education course. These programs can significantly reduce your upfront costs as a first-time buyer.

Tips for Choosing the Right Lender

• Compare interest rates and APRs from at least 3 lenders
• Ask about CHFA or other down payment assistance programs
• Check for local lender reviews in your area
• Get pre-approved to strengthen your offer
• Ensure the lender explains all closing costs and monthly payments

Conclusion

Choosing the best mortgage lender in Colorado depends on your financial situation, loan type, and eligibility for state or local assistance. Lenders like Security First Financial, ENT Credit Union, and New American Funding offer outstanding support for first-time buyers. Always shop around, ask questions, and find a partner who understands the unique challenges of buying your first home in Colorado.