Local Change Down Payment Assistance Program
Eligible applicants can get $10,000 in mortgage down payment assistance.
Stable housing helps stabilize health and education and strengthen communities.
For a limited time and with support from Elevations, the Local Change Foundation is offering down payment assistance to qualified applicants thanks to a grant from the FHLBank Topeka – Affordable Housing Program.
Before you apply, review the eligibility requirements below. Then, talk to an Elevations mortgage loan officer to start your application.
To qualify, applicants must:
Apply for a mortgage through Elevations Credit Union
Purchase a home in Colorado
Earn less than 80% area median income (AMI) in your county
Do you qualify?
In addition to the above requirements, you must meet at least two of the following criteria.
Earn up to 60% AMI in your county
Buying 3+ bedroom property
Buying a property in Boulder County
Mortgage
Mortgage loan options to get you home.
As the #1 credit union purchase volume mortgage lender in Colorado, we know the ins and outs of buying a home around here. And we've designed our mortgage services to empower you, the homebuyer. We offer down payment options as low as 3%, a unique pre-approval program so you can make your strongest offer and a variety of loan options for everyone from first-time homebuyers to those who want to refinance or invest in real estate.
What's my area median income (AMI)?
Example: AMI limits for Boulder County in 2025
Household size | Income limit (80% AMI) | Income limit (60% AMI) |
|---|---|---|
1-4 people | $104,200 | $84,934 |
5-8 people | $137,500 | $112,117 |
Area median income depends on many factors, including where you live. As you talk with a mortgage loan officer, you’ll learn more about whether you fall within the income limits.
Eligible applicants will make a maximum of 80% AMI in the Colorado county where they’re buying a home. Income limits vary by county.
More resources
Quickly check your eligibility for other assistance through the Down Payment Resource Center, free through Elevations.
This tool helps you see all potential resources you qualify for, helping you make home ownership more attainable.
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Commonly asked questions
Talk with an Elevations mortgage lender in your area, and they’ll walk you through the application steps.
Along with making timely mortgage payments, you must live in the home for five years. If you do not, you may be required to repay the grant.
Local Change Down Payment Assistance will be available until funds last. Subscribe to the foundation’s newsletter(opens in a new window) for information on future opportunities.
There are many factors involved in calculating household income. Your Elevations mortgage lender will give you more information to see if you qualify.
Before purchasing your home, you will need to provide a signed certificate proving you’ve completed a homebuyer education class approved by FHLB Topeka. Approved class providers include HUD, Habitat for Humanity, Federal National Mortgage Association or Federal Home Loan Mortgage Corp. Talk to your mortgage loan officer for more information?