Your first home in the Denver metro, step by step

Buying your first home in the Denver metro is a big step, and it's normal to feel unsure where to start. I'm Adam Zaitz, a Broker Associate on the B1 Team with Compass Colorado, and I help first-time buyers in Denver, Lakewood, Arvada, Golden and Wheat Ridge go from "can I even afford this?" to keys in hand. I explain every step in plain English, and I never pressure you.

How I help first-time buyers

  • A no-pressure first conversation. We talk about your budget, timeline and must-haves before you tour a single home.

  • Introductions to trusted lenders, including lenders who work with Colorado down payment assistance programs.

  • New listings the day they hit the market, from a custom MLS search built around what you want.

  • Honest advice at every showing, including what I'd worry about, what's an easy fix and what's a dealbreaker.

  • Strong negotiation, including asking sellers to help with closing costs or a rate buydown, which many Denver sellers are doing right now.

  • A guide through inspection, appraisal and closing, so nothing catches you off guard.

What it really costs to buy your first home

  • Down payment. You likely need less than you think. Many conventional loans allow as little as 3% down, FHA loans 3.5%, and VA and USDA loans can allow zero down for eligible buyers.

  • Closing costs. Lenders commonly suggest budgeting 3% to 6% of the loan amount for lender fees, title, prepaid taxes and insurance. Your lender's Loan Estimate shows the exact numbers.

  • Inspections. Plan for a general home inspection, and in Colorado most buyers also add a sewer scope and a radon test.

  • Earnest money. A deposit due shortly after your offer is accepted. It's applied toward your purchase at closing.

In today's market, sellers are often willing to pay part of your closing costs or buy down your interest rate. Read how seller-paid buydowns can lower your payment.

Colorado down payment assistance

Several programs can help Denver-area buyers with the down payment and closing costs. Each has its own rules, and your lender confirms what you qualify for. These are the ones I see most often:

  • CHFA Down Payment Assistance Grant. Up to 3% of your first mortgage (capped at $25,000) that doesn't have to be repaid. Requires a CHFA first mortgage.

  • CHFA Second Mortgage. Up to 4% of your first mortgage (capped at $25,000), repaid when you sell, refinance or pay off the first mortgage.

  • metroDPA. Sponsored by the City and County of Denver for homes in participating Front Range cities and counties. It's a 0% interest second mortgage with no monthly payments, repaid when you sell, refinance or move out. Household income can be up to $195,600, with a credit score above 640.

CHFA loans generally require a 620 or higher credit score, a $1,000 contribution of your own money, and a CHFA-approved homebuyer education class before closing (in-person classes are free). Income and price limits vary by county and household size.

The steps, from first call to keys

  1. Talk with me and a lender. Get pre-approved so you know your real budget and monthly payment. About 1 to 2 weeks.

  2. Tour homes. I'll set up your search and tour homes with you. Usually a few weeks, sometimes longer.

  3. Make an offer. We'll use Colorado's state-approved contract, where every deadline is a calendar date, and negotiate price, credits and terms.

  4. Inspection and appraisal. Inspections, a sewer scope and radon test in the first week or two, then the lender's appraisal.

  5. Close. A title company handles closing, usually 30 to 45 days after your offer is accepted. Then you get the keys.

First-time buyer FAQ

How much do I need to buy my first home in Denver?
It depends on the price and loan type. Many buyers put down 3% to 3.5%, plus closing costs. On a $450,000 condo or townhome, 3.5% down is about $15,750. Down payment assistance and seller credits can lower your cash to close.

What credit score do I need?
Many loan programs start around 620, and CHFA requires a 620 mid-score. A lender can tell you exactly where you stand and how to improve it.

Do I have to pay a buyer's agent?
How your agent is paid is agreed on in writing before we tour homes. In many cases the seller contributes toward the buyer's agent compensation. I'll walk you through the options up front so there are no surprises. In my experience, sellers pay my Compass compensation 99% of the time.

Should I wait for interest rates to drop?
Nobody can promise where rates will go. Right now buyers have more homes to choose from and more room to negotiate. If you buy a home whose payment works today, you can explore refinancing later if rates fall.

Where should first-time buyers look in the Denver metro?
It depends on budget and lifestyle. Lakewood and Arvada offer a wide range of prices, Wheat Ridge and parts of Westminster can be good values, and condos and townhomes across the metro are often the most affordable way in. See my Denver neighborhood guide.

Is it a good time to buy?
For many first-time buyers, this is the most negotiating power they've had in years. In September, about 64% of Denver-area sales included seller concessions such as help with closing costs.

Let's talk about your first home

Fill out the form on this page, or call or text me at 303-885-1367. Prefer to start with reading? Get my free first-time buyer guide.

Program details are from CHFA and the City and County of Denver as of October 2026 and can change. Your lender confirms eligibility, amounts and terms.