MetroDPA Social Equity - M2 Lending Solutions

Due to limited fund availability, the Social Equity Program has currently been paused. Please check back for future updates regarding the program. Or complete the form below with the subject ‘MetroDPA Update”.

Find out about our other assistance options you can take advantage of today!

An incredible opportunity for many in the Denver metro area! If you, your parents, or your grandparents lived in a qualifying neighborhood, you may be eligible for up to $25,000 in a Social Equity Program grant. You don’t even need to live or buy a home in Denver if the home is in one of the many qualifying Front Range areas.

You choose the option that works best for you!

Option 1

Receive $25K in free assistance with a reduced below market rate.

This significantly reduces the upfront costs associated with homeownership, making it more affordable and accessible.

Option 2

Receive $5K in free assistance with a super reduced below market rate.

While this option involves a smaller upfront saving, it results in a lower monthly payment throughout the life of the loan.

The example above is a hypothetical scenario and meant to be informational only and does not factor in borrower or property information, and is subject to modifications related to other loan variables. Monthly payments do not include additional costs such as taxes or insurance. All rates are estimated at the time of creation. Terms and conditions apply.

If you qualify for the metroDPA (Down Payment Assistance) Social Equity Program you may be eligible for up to $25,000 in assistance in the form of a grant that doesn’t need to be paid back ever.

Even if you don’t qualify for the Social Equity program, the Denver metroDPA Program is specifically designed to assist individuals like you in overcoming the hurdles of saving for a down payment and making that crucial first step toward purchasing a home. MetroDPA is helping people throughout the Front Range become homeowners.

If you make up to $188,250 a year and have a credit score above 640, M2 Lending and metroDPA can help with a home loan and down payment assistance to help you buy a home.

You may receive a percentage of the mortgage loan amount for your down payment – with no interest – and you don’t have to pay it back if you stay in the home for three years.

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See if you qualify and learn more about this program today!

Find Out Now

See if you qualify and learn more about this program today!

Find Out Now

Here’s what you need to know about the program

What is the Denver Metro Down Payment Assistance Program?

The program is a remarkable initiative aimed at providing eligible homebuyers with financial support to bridge the gap between their savings and the down payment required to purchase a home. It offers grants or loans to help you fulfill your dream of owning a home sooner than you thought possible.

What is the metroDPA Social Equity Program?

In 2022, Denver created the metroDPA-Social Equity program to support Denver residents who have faced housing discrimination based on where they live. If you or an ancestor lived in a qualifying neighborhood, you may be eligible for $15,000 or $25,000 toward a down payment on a home! This benefit is subject to future funding availability.

Use this map to search for an address and see if it is an eligible property. If you lived in a BLUE or GREEN area between 2010-2022, you may qualify. If you or an ancestor lived in a YELLOW or GREEN area between 1938-2000, you may qualify.

How does the program work?

The Denver Metro Down Payment Assistance Program works by providing qualified buyers with funds to cover a portion of their down payment. This financial assistance significantly reduces the amount of money you need to bring to the closing table, making homeownership more affordable and accessible.

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How can this help you text graphic for Denver metroDPA benefits

OVERCOME DOWN PAYMENT OBSTACLES
Saving for a down payment can be a daunting task, but with M2 Lending and Denver Metro DPA, you no longer have to face this challenge alone. The program’s support empowers you to make a substantial down payment, increasing your chances of securing a mortgage and obtaining your dream home.
INCREASED BUYING POWER
With the benefits of this program, you can potentially afford a home that may have been out of reach otherwise. It expands your options and provides you with the opportunity to explore a wider range of homes that fit your needs and preferences.
Financial Flexibility
The program’s assistance gives you more financial flexibility during the home buying process. You can allocate your savings towards other essential expenses, such as moving costs, furnishings, or home improvements, making your new house truly feel like home.

metroDPA & Social Equity Frequently Asked Questions (FAQ)

What is metroDPA?

Metro Down Payment Assistance (metroDPA) is sponsored by the City & County of Denver. It provides a home loan and down payment assistance to help people become homeowners in all of these Front Range cities and counties.(PDF, 243KB)

Who is eligible?

People who make up to $188,250 a year and have a credit score above 640 are eligible for a home loan and down payment assistance to purchase a home in these Front Range cities and counties.(PDF, 243KB)

If you or an ancestor lived in a qualifying neighborhood, you may also qualify for the metroDPA-Social Equity program, which provides $15,000 or $25,000 (depending on income) for a home purchase. Please use this map to see if you are eligible. If you lived in a BLUE or GREEN area between 2010-2022, you may qualify. If you or an ancestor lived in a YELLOW or GREEN area between 1938-2000, you may qualify. Proof of eligibility must be submitted by using this link to apply.

Do I have to live in Denver or buy a home in Denver to apply?

No. The metroDPA and metroDPA Social Equity programs are available to qualified applicants so long as the home they are purchasing is in any of these Front Range cities and counties.(PDF, 243KB)

How does the program work? How much can I get toward a down payment?

metroDPA: You can get a percentage of the home loan (first mortgage loan) amount for your down payment in the form of an interest-free, 3-year forgivable second mortgage – there are no scheduled payments and you don’t have to pay the assistance loan (second mortgage) back if you stay in the home for three years.

metroDPA Social Equity: If you are eligible and approved for the metroDPA Social Equity program, you may be eligible for $15,000 or $25,000 toward your down payment or closing costs. This benefit is interest-free and does not require repayment. You will also receive metroDPA’s lowest available interest rate for the type of home loan.

What other program requirements are there?

You must use a metroDPA-approved lender to obtain a 30-year fixed rate home loan (first mortgage) in order to receive down payment assistance. The mortgage may be an FHA, VA or USDA loan or a conventional loan and will be determined in cooperation with your lender.

What lenders can I work with?

metroDPA loans are available ONLY through approved lenders like M2 Lending Solutions. Non-approved lenders and brokers are not able to utilize this program.

What is a second mortgage?

The assistance loan is in the form of a second mortgage, which creates a lien on the property for a specific amount of time. In this case, the amount of time is three years after the date of closing on the home. The loan is forgiven over a three year period. You may sell or refinance your home before the end of the three years and only repay the unforgiven portion.

What does “forgivable” second mortgage mean?

Over the first three years (36 months) of ownership, the down payment assistance is forgiven 1/36th each month. After the third anniversary (36 months) of closing, you will not have to repay any portion of the assistance you received. If you sell or refinance before the 36 months is up, you must pay back the remaining portion of the loan.

Here is an example: A borrower received $10,000 in assistance and 28 months after closing they decide to refinance their home. They are going to owe back a portion of the assistance they received. Remember, the assistance is forgiven at 1/36th per month which means, in month 28 after closing, $7,777 of the $10,000 amount has been forgiven. So, the borrower will owe $2,223 when they refinance or sell their home.

How much assistance does this program offer?

metroDPA: A homeowner may receive a percentage of their home loan (first mortgage amount) based upon the loan product (FHA, VA, USDA or conventional). As an example, if a borrower was to purchase a home and their loan amount was $300,000, if they use the FHA loan product and receive 5% of down payment and closing cost assistance, the borrower would receive $15,000 to be used as down payment and closing cost assistance.

metroDPA Social Equity: A homeowner may receive $15,000 or $25,000 based upon their income level and HOST’s approval of their Social Equity application.

In either case, the homeowner must use a home loan (first mortgage loan) provided through the metroDPA program.

What can and can’t I use the assistance for?

The assistance may be used for the down payment required by FHA, Conventional, USDA and VA loans. The assistance may also be used for customary closing costs, pre-paids or principal reduction of the home loan. The assistance may not be used to pay the difference between the sales price and appraised value, any borrower’s debt, any portion of the realtor compensation or result in cash back to the homeowner(s).

Why did the City develop the metroDPA-Social Equity program?

The metroDPA-Social Equity program makes additional down payment assistance available to home buyers who have been impacted by geographic discrimination in homeownership opportunities.

This program helps the Denver Department of Housing Stability (HOST) work toward our Five-Year Strategic Plan goal of increasing homeownership for Black, Indigenous and People of Color (BIPOC) in Denver from 41% to 45% by 2026. The metroDPA-Social Equity program was initially designed to help residents who lived in areas that were historically targeted by discriminatory lending practices like redlining. In 2023, it was expanded to support households who were disadvantaged by limited access to educational opportunities. HOST is strongly committed to equity and utilizing data and programs to inform our work so that race is no longer a predictor of housing outcomes.

Promoting homeownership in our community can help build generational wealth, strengthen the Front Range, and bring stability to its residents.

Learn More Today

Let us help make your dream home a reality!

Learn More Today

You choose the option that works best for you!

Receive $25K in free assistance with a reduced below market rate.

Receive $5K in free assistance with a super reduced below market rate.

Here’s what you need to know about the program

What is the Denver Metro Down Payment Assistance Program?

What is the metroDPA Social Equity Program?

How does the program work?

Get More Info

OVERCOME DOWN PAYMENT OBSTACLES

INCREASED BUYING POWER

Financial Flexibility

metroDPA & Social Equity Frequently Asked Questions (FAQ)

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