Colorado Springs Down Payment Assistance 2026
Pikes Peak DPA (Turnkey Plus) forgivable assistance — stack with CHFA through approved lenders
Full program guide: Pikes Peak DPA / Turnkey Plus — up to 5% forgivable, CHFA stacking, and 2026 income limits.
Free eligibility quiz • No SSN required • Results in 5 minutes
Colorado Springs at a Glance
Colorado Springs Down Payment Assistance Programs at a Glance
CHFA SmartStep Plus
AvailableCHFA Preferred Plus
AvailableCHFA FirstStep Plus
AvailableCHFA FirstGeneration Plus
AvailableCHFA HomeAccess Plus
AvailableCHFA SectionEight Plus
AvailableAbout Colorado Springs Down Payment Assistance
Colorado Springs down payment assistance centers on Pikes Peak DPA (Turnkey Plus) — El Paso County's forgivable soft second up to 5% of the first mortgage — plus CHFA and CHAC statewide programs. Buyers in Fountain, Monument, Falcon, and Fort Carson area communities use the same county program.
Colorado Springs DPA Program Highlights
- Pikes Peak DPA / Turnkey Plus: Up to 5% forgivable soft second countywide
- Stack with CHFA SmartStep or FirstStep through dual-approved lenders
- 80% AMI limit: $93,100 (family of 4) — see income limits page
- Hometown Heroes: Extra 1% grant for teachers, nurses, and qualifying workers
- No first-time buyer requirement for Pikes Peak DPA
Need Local Help?
Our team is licensed in Colorado and specializes in El Paso County DPA programs — serving buyers across Colorado Springs and statewide.
DPA Programs Available in Colorado Springs
6+ down payment assistance programs serve Colorado Springs homebuyers
CHFA SmartStep Plus
deferred loanCHFA SmartStep Plus offers statewide down payment help as either a grant (lesser of $25,000 or 3% of the first mortgage) or a 0% deferred second mortgage (lesser of $25,000 or 4%). Must be paired with a CHFA first mortgage using FHA, VA, or USDA financing. Household income is capped at $174,440 regardless of AMI. Repayment on the deferred option is due when you sell, refinance, or pay off the first mortgage.
CHFA Preferred Plus
deferred loanCHFA Preferred Plus provides a 0% deferred second mortgage for conventional loan buyers statewide — up to the lesser of $25,000 or 4% of the first mortgage amount. Must be combined with a CHFA conventional first mortgage. Income is limited to 80% of area median income for your county and household size. The second is repaid when you sell, refinance, or pay off the first mortgage.
CHFA FirstStep Plus
deferred loanCHFA FirstStep Plus is a 0% deferred second mortgage up to the lesser of $25,000 or 4% of the first mortgage for first-time homebuyers and qualifying veterans using FHA financing with a CHFA first mortgage. Income is capped at 80% AMI. Veterans who are not first-time buyers may still qualify. Repayment is due upon sale, refinance, or payoff of the first mortgage.
CHFA FirstGeneration Plus
deferred loanCHFA FirstGeneration Plus offers a fixed $25,000 deferred second mortgage for first-generation homebuyers — buyers whose parents or legal guardians have never owned a home. Must use FHA financing with a CHFA first mortgage and meet 80% AMI income limits. The 0% deferred loan is repaid when you sell, refinance, or pay off the first mortgage.
CHFA HomeAccess Plus
deferred loanCHFA HomeAccess Plus provides up to $25,000 in down payment assistance for homebuyers with a disability or who have a household member with a disability. Available statewide with a CHFA first mortgage; household income capped at $174,440. Assistance is a 0% deferred second mortgage repaid upon sale, refinance, or first mortgage payoff.
CHFA SectionEight Plus
deferred loanCHFA SectionEight Plus offers up to $25,000 in deferred down payment assistance for first-time homebuyers and qualifying veterans who currently hold a Section 8 Housing Choice Voucher. Must be paired with a CHFA first mortgage. Income limits follow 80% AMI guidelines. The 0% deferred second is repaid when you sell, refinance, or pay off the first mortgage.
How to Apply for Colorado Springs Down Payment Assistance
Check Eligibility
Take our free 5-minute quiz to see which El Paso County programs you qualify for.
Get Pre-Approved
Work with a participating lender to get pre-approved for a mortgage and DPA programs.
Find Your Home
Shop for a home in Colorado Springs within program purchase price limits.
Close & Move In
Complete the loan process and receive your down payment assistance at closing.
Colorado Springs Down Payment Assistance FAQ
What is Pikes Peak Down Payment Assistance?
Pikes Peak DPA (PPDPA), also known as Turnkey Plus in El Paso County, offers up to 5% of your first mortgage as a 0% soft second with pro-rata forgiveness over 60 months. Hometown Heroes adds a 1% grant for teachers, nurses, and other qualifying occupations. See our full Pikes Peak DPA program page for requirements and lender steps.
Who qualifies for Colorado Springs DPA?
PPDPA has no first-time buyer requirement. Most buyers need income at or below 80% AMI ($93,100 for a family of 4 in El Paso County in 2026). FHA/VA/USDA loans allow up to $174,440 household income; Freddie Mac conventional caps at $90,720. CHFA programs have separate limits. Take our free quiz for a personalized list.
Is Pikes Peak DPA forgivable?
Yes — 50% is forgiven pro-rata over the first 5 years of owner-occupancy; the remaining 50% is forgiven at 30-year first mortgage maturity if you remain in the home.
Can I use Pikes Peak DPA with a CHFA loan?
Yes. Many Colorado Springs buyers stack Pikes Peak DPA with CHFA SmartStep Plus or CHFA FirstStep Plus. Your lender must be approved for both programs. FHA first mortgages are a common combination — ask your loan officer about dual approval.
How do I find Pikes Peak DPA approved lenders?
Pikes Peak DPA is delivered through participating lenders, not via a direct application to the housing authority. Start with a CHFA- and Pikes Peak-approved loan officer — our team can help coordinate eligibility for both programs.
What is the difference between Pikes Peak DPA and Turnkey Plus?
They refer to the same El Paso County program. Turnkey Plus is the county's program name; Pikes Peak DPA (PPDPA) is the common shorthand used by lenders and buyers in the Colorado Springs area.
Does Pikes Peak DPA work with FHA loans?
Yes. FHA financing is one of the most common ways Colorado Springs buyers use Pikes Peak DPA. FHA allows a higher household income cap ($174,440) than conventional Turnkey Plus limits. Your lender structures the forgivable soft second as a subordinate lien at closing.