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First-time buyer guide

Your first home, in plain language.

Seven steps from "can I afford this?" to keys in hand, the down payment help Colorado offers through CHFA, and a calculator for a rough price range before you talk to a lender.

Try the calculatorTalk it through
Chris Young giving two thumbs up outside

Seven steps, start to keys.

Most of the stress comes from not knowing what happens next. Here is the whole path.

  1. Check your budget

    Use the calculator below for a rough price range. It is a starting point for a conversation, not a number to shop with.

  2. Get pre-approved

    A lender reviews your income, savings and credit and tells you what you can borrow. Sellers expect a pre-approval letter with an offer.

  3. Look for down payment help

    Ask your lender about CHFA and other programs. If a program needs a homebuyer class, take it early rather than in a rush before closing.

  4. Pick your agent, in writing

    Since August 2024, you sign a buyer agreement before touring homes. It spells out what your agent does and how they are paid.

  5. Tour and make an offer

    Chris books showings around your schedule, then writes an offer based on recent sales, with the protections you need.

  6. Inspect and appraise

    An inspector checks the home and the lender orders an appraisal. Problems get negotiated, or you can walk away within your contract deadlines.

  7. Close and get the keys

    Final loan approval, a last walk-through and signing at the title company. Then it is yours.

Affordability calculator

What could you afford?

Type in a few numbers for a rough monthly payment and price range. It runs in your browser; nothing is sent anywhere unless you choose to send it to Chris.

Your numbers

Everyone on the loan, before taxes.
Car, student loans, card minimums. Not rent.
Ask a lender for today's rate.
A starting guess near Colorado's average. Metro districts can run higher.
Left blank, it is not counted.
Next: get pre-approved

Jeff Theisen

Employing broker and residential lending expert, Harmony Brokers

A pre-approval turns this estimate into a real number. Call or email Jeff to start; he will ask for your own details directly.

Call Jeff (970) 430-9067 Email Jeff

NMLS 300205, company NMLS 397446, license LMB100023008

Jeff and Chris both work at Harmony Brokers. You are free to use any lender, and comparing quotes is smart. Nothing from this calculator is sent to Jeff.

Optional

Send this estimate to Chris

He will look it over and suggest neighborhoods that fit. The numbers above go with it.

Down payment help

CHFA can help with the down payment.

The Colorado Housing and Finance Authority (CHFA) pairs its home loans with help toward the down payment and closing costs. Here is the shape of it; current amounts, limits and rates are on chfainfo.com.

CHFA option

Down Payment Assistance Grant

Money toward your down payment or closing costs that you do not repay.

CHFA option

Second Mortgage Loan

A second loan for down payment or closing costs. Repayment waits until you sell, refinance, pay off the first mortgage or move out.

Programs for specific buyers

CHFA FirstGenerationFirst-generation homebuyers
CHFA HomeAccessBuyers living with a permanent disability, or their parents or guardians
CHFA Schools To HomeColorado public school employees
CHFA Colorado ChampionsPeace officers, firefighters and EMTs (CHFA lists it as launching in November 2026)

How it works

  • Assistance is paired with a CHFA first mortgage, made through a CHFA Participating Lender. CHFA does not lend directly.
  • Every borrower takes a CHFA-approved homebuyer education class before closing.
  • There is a minimum credit score, income limits and a small contribution of your own. Check the current numbers on chfainfo.com.

On chfainfo.com

First-time buyer questions.

No question is too small. If yours is not here, text Chris.

Who counts as a first-time buyer?
Usually anyone who has not owned a home in the past three years. That is the definition CHFA uses, so you may qualify even if you owned a home years ago.
How much do I need for a down payment?
Typically 3% to 20% of the price, depending on the loan. Down payment assistance can cover part of it, and seller concessions can help with closing costs.
Is the calculator a pre-approval?
No. It is a rough estimate from a few numbers you type in. Only a lender can tell you what you qualify for, after reviewing your income, debts, savings and credit.
Do I pay for a buyer's agent?
You agree on your agent's pay in writing before touring. Sellers and builders can still agree to cover some or all of it. The How I'm paid page explains it in plain words.
How long does it take?
The search takes as long as it takes. Once an offer is accepted, most purchases close in 30 to 45 days.

More guides.

New constructionBuying a new buildBuilder registration, metro districts, builder contracts and the inspections that matter.
Agent payHow I'm paidThe 2024 buyer agreement rules in plain words, before your first showing.
AreasWhere to liveSchools, drive times and the kinds of homes in seven towns.

First home? Start with a 15 minute call.

Budget, timeline, down payment help and the first step. Chris explains every step before it happens.

Book a callText Chris(720) 323-1529