Explore different paths to buying in Colorado Springs
A provider shortlist is one part of a purchase plan. Local assistance, ownership arrangements, and education can each involve a different organization. Use these resources to identify the right application contact and prepare questions before choosing financing.
Start Pikes Peak assistance with a participating lender
El Paso County's Pikes Peak Down Payment Assistance (PPDPA) program covers eligible purchases throughout the county, including Colorado Springs. The county directs buyers to its participating-lender list to start a mortgage application. A listing in this directory does not confirm program participation.
PPDPA assistance is a deferred second mortgage with a forgiveness schedule. Part is forgiven during the early years; the remainder is forgiven at the first mortgage's maturity. Sale or refinancing can make the remaining balance due. Ask for a written payoff explanation for the year you might move or refinance, rather than treating the entire amount as an immediate grant.
Questions to take with you
- Which first mortgage and assistance terms are included in this offer?
- What balance would remain at my expected sale or refinance date?
- Which education requirement applies to this loan, and how is assistance reserved?
A land-trust purchase changes the ownership arrangement
The City identifies Rocky Mountain Community Land Trust (RMCLT) as a homeownership partner. RMCLT's model keeps its investment with the property to support affordability for later buyers. Its buyer FAQ explains that the trust retains the land through a ground lease and that resale is to another eligible buyer.
Before comparing an RMCLT home with an ordinary purchase, ask for the ground lease, resale calculation, and full monthly budget, including any lease fee and association dues. RMCLT requires financing from an approved lender. Confirm the property's eligibility and current purchase area directly with the trust; its history of serving El Paso County does not establish that every county address can enter the program today.
Questions to take with you
- How would a future resale price and my share of appreciation be determined?
- Which lender approvals and property reviews must be completed before a purchase contract?
Bring a before-and-after budget to local education
NeighborWorks Southern Colorado lists Colorado Springs among its group-class locations and describes its classes as CHFA approved. It also offers an online route with a follow-up counseling call. Confirm the current class location, schedule and your lender's acceptance before enrolling.
For that follow-up, the provider asks for gross and take-home income plus current living expenses and the expenses anticipated after buying. Preparing both budgets makes the appointment more useful: you can discuss the change from rent to ownership rather than looking only at the advertised mortgage payment. Use the provider's registration instructions to complete intake and arrange the call.
Published by Mortgage Firm, an independent directory. Program administrators and lenders determine current availability and eligibility. Our editorial approach