Metro Mortgage Assistance Plus Program

Commerce City is a participating jurisdiction in the Metro Mortgage Assistance Plus Program. The program, administered by the City and County of Denver, provides a competitive, 30-year fixed-rate mortgage down payment assistance grant equal to 4 percent of the mortgage amount to qualifying low and moderate income home buyer families. 

The home must be the primary residence of the home buyer, but they are not required to be a first-time purchaser. The following eligibility requirements must be met to participate:

• A two or fewer person household must earn less than $91,000 and households of three or more, $103,000.
• A minimum FICO score of 640 and a maximum debt-to-to-income ratio of 45 percent
• Provide 0.5% (one-half of one percent of the total mortgage) to the closing costs.
• Attend and complete a HUD approved home buyer education class.

For a full list of requirements, qualified lenders, and other program information visit the Metro Mortgage Assistance Plus webpage.

Commerce City Housing Authority Homebuyer Program

Looking to purchase your first home in Commerce City? The Housing Authority can help qualifying first-time home buyers with down payment and closing cost assistance if they successfully complete a Colorado Housing Finance Authority-approved home buyer workshop.

Financial assistance comes in the form of a second mortgage loan for down payment and all allowable closing costs up to $10,000 at 3.5% interest rate with up to a 10 year repayment schedule.

Buyer Eligibility

Buyer(s) cannot exceed the HUD maximum gross income limits:

Buyers must obtain a fixed-interest rate mortgage and cannot have any property in his/her name for the last three years. Buyers must contribute 1% of their own money towards the sales price, which can include the earnest money deposit, costs for credit report, appraisal, inspection and repairs, etc. 

Property Eligibility

• The purchase price of the property shall not exceed appraised value. 
• Property has to be located in the City of Commerce City.
• Buyer must acquire at their expense a professional, certified home inspection and submit the complete report prior to the Inspection Deadline for a Housing Quality Standards review. This will address health and safety issues prior to closing. Most repairs are completed prior to closing.

The Fine Print

The program follows U.S. Department of Housing and Urban Development regulations. Learn more about the 2021 guidelines and program standards, as well as download an application.