Soaring prices and homes quickly selling out can make it challenging for first time home buyers to score their dream property in Denver. However, as a first-time homebuyer, you may have more options available to you, thanks to national and state programs aiming to make homeownership increasingly affordable and accessible to more families, couples and individuals.

You only need to make sure that you have access to them. Reputable mortgage companies in Colorado can help you with that. They can even assist you in selecting the best loan program that will suit your situation.

First time home buyer programs in Denver are available from the Colorado Housing and Finance Agency (CHFA) and from national programs. National loan programs are not only for first-time buyers, but also for those looking to purchase a new home because they are moving. They make it viable to get a mortgage even with limited down payment or a low credit score. You can also consider FHA loans, which are insured by the Federal Housing Administration.

VA loans are another type of national loan program available to first time home buyers in Denver. They are designed for military members and veterans, as well as their surviving spouses. The benefits include no down payment, no mortgage insurance, and no minimum credit score. USDA home loans are another alternative if you are looking for a zero down payment mortgage, but this time, you must be buying an eligible suburban or rural home. These loans are issued through the USDA Rural Development Guaranteed Housing Loan Program of the US Department of Agriculture. Income limitations apply, which can vary per region, and your credit score must be at least 640 or higher to qualify seamlessly.