Colorado DACA Mortgage Program

Mortgage Loans for DACA Recipients in Colorado(Updated 2023)

What Is DACA?

The Deferred Action for Childhood Arrivals Program, known as DACA is a program that protects undocumented individuals in the U.S. The purpose of DACA is to protect eligible immigrants who came to the US when they were children from deportation. DACA gives young undocumented immigrants protection from deportation and the opportunity to receive a work permit. The program is subject to renewal every two years. DACA can also be referred to as the C33 or DA program. 

Can a Colorado DACA Resident get a Home Loan?

Yes, DACA Recipients are eligible to apply for a conventional or FHA loan. We are accepting DACA applicants who have the ability to do a minimum 3% – 3.5% down payment. The great part about our DACA program is that the borrower is eligible to receive the same low rates that we offer everyone else! You can read about different loan options below.

Non-permanent resident aliens with DACA status are eligible if they meet the following criteria:

• Property will be the borrower’s primary residence

The borrower must have a valid Social Security Number (SSN) & Credit score above 580+

The borrower is eligible to work in the U.S. Must be documented by the Employment Authorization Document(EAD DACA Card) issued by the USCIS. More details below.

720-535-4321 Purchase / Compra

720-514-3388 Refinance / Refinanciar


Colorado DACA mortgage programs


The three guidelines above are the most important factors for Colorado DACA recipients who would like to apply for a home loan. Here are some more details to help assess if a borrower will be eligible:

• Must have decent credit history showing ability to repay loans. We’re looking for a minimum credit score of 620 and a reasonable history of previous credit such as credit cards, student loans or auto loans. Credit scores below 620 will be considered on a case by case basis.

• Must have a stable job history. There is no particular requirement for time on the job but the underwriter will be looking for a reasonable work history of 2+ years. Must be able to document income through W2s and pay stubs or tax returns in case of a self-employed individual. 

Please contact us for more information but here are some details about different loan options:

Conventional 30 year fixed

  • Requires minimum 3% down payment
  • Ideal for borrowers with 700+ credit score
  • Down payment can be a gift from family member or employer
  • Must be owner Occupied / No investment properties
  • Eligible Properties: Single Family Home, Town-home, Warrantable and approved Condos
  • Must meet income guidelines just like any other applicant

Conventional Home Ready/Home Possible

  • Requires minimum 3% down payment
  • Ideal for borrowers with 680+ credit score
  • Reduced mortgage insurance and slightly lower rates than conventional loans
  • Income limits apply typically under $94,240 in the Denver Metro Area
  • Must be owner Occupied / No investment properties
  • Eligible Properties: Single Family Home, Town-home, Warrantable and approved Condos
  • Learn More about HomeReady & Home Possible

FHA 30 year fixed

  • Requires minimum 3.5% down payment
  • Ideal for borrowers with 620+ credit scores but below 700
  • Down payment can be a gift from family member or employer
  • Must be owner Occupied / No investment properties
  • Eligible Properties: Single Family Home, Town-home, Warrantable and approved Condos
  • Must meet income guidelines just like any other applicant

What Documents Are Required

⇒ Conventional

If the client has Deferred Action of Childhood Arrivals (DACA), the eligible client must provide an unexpired copy of their EAD with Code C33.

⇒ FHA 

If the client has Deferred Action for Childhood Arrivals (DACA), the eligible client must provide one of the following:

  • Unexpired copy of their EAD indicating DACA status (Code C33)
  • USCIS Form I-797 notice indicating approval of a USCIS Form I589, Application for Asylum or Withholding of Removal substantiating the DACA status.

Do You Qualify?

These type of loans are reviewed on a case by case basis so please contact us at 720-535-4321 and we can do a free no obligation pre-approval for you. Our office is located in Denver and we originate mortgages all across the State of Colorado. 

La pregunta es, puede comprar usando su DACA?

Claro que si!  A los residentes de DACA, le estamos dando la oportunidada de aplicar con nosotros.

Estos son los requisitos para los que toda villa no son residentes-permanante:

  • La propiedad tiene que ser ocupada por uste directamente como residencia personal.
  • Tiene que tener credito ariba de 620+puntos.
  • El comprador tiene que tener visa o derecho de trabajo en Los Estados Unidos.
  • 3.5% de enganche sobre prestamos FHA o 3% de enganche usando prestamo convencional.
  • El enganche puede ser regalo de un familiar o de su trabajo.
  • Tiene que ser para su vivienda principal/No para negocio.
  • EPropiedades disponibles:Viviendas de una unidad, Casas pegadas o TownHomes y condominio asegurados por FHA.
  • Tiene que estar aprovado con su ingresso y pasar los requisitos necessarios para el prestamo.

Nuestra direccion: 6464 S. Quebec St. Suite 450. Centennial, Co. 80111

720-535-4321 Purchase / Compra

720-514-3388 Refinance / Refinanciar

Hable nos para tomar su aplicaccion.  Gracias.

Helpful Links Regarding Non-Permanent Resident Alien Mortgage Eligibility

Fannie Mae Non–U.S. Citizen Requirements

Fannie Mae PDF Guidelines Regarding DACA Status

FHA To Permit DACA Applicants

2019 Colorado Conforming Loan Limits

New 2019 Colorado Conforming Loan Limits

Conventional Loan Limits have increased for 2019! New maximum loan amount is $484,350. Previous loan limit was $453,100. High cost areas in Colorado do allow exceptions. Please look at chart below for details.

Most of the Denver Metro area is considered high cost and allows for higher conforming loan limits. Some areas in the mountains also allow higher loan amounts. If you’re interested in purchasing or refinancing, check out our rates and conventional loan programs.


Colorado 2019 Conforming Fannie Mae / Freddie Mac Loan Limits
County 1 Unit   2 Unit   3 Unit   4 Unit
ADAMS $561,200  $718,450  $868,400  $1,079,250
ALAMOSA $484,350  $620,200  $749,650  $931,600
ARAPAHOE $561,200  $718,450  $868,400  $1,079,250
ARCHULETA  $484,350  $620,200  $749,650  $931,600
BACA  $484,350  $620,200  $749,650  $931,600
BENT  $484,350  $620,200  $749,650  $931,600
BOULDER  $626,750  $802,350  $969,850  $1,205,300
BROOMFIELD  $561,200  $718,450  $868,400  $1,079,250
CHAFFEE  $484,350  $620,200  $749,650  $931,600
CHEYENNE  $484,350  $620,200  $749,650  $931,600
CLEAR CREEK  $561,200  $718,450  $868,400  $1,079,250
CONEJOS  $484,350  $620,200  $749,650  $931,600
COSTILLA  $484,350  $620,200  $749,650  $931,600
CROWLEY  $484,350  $620,200  $749,650  $931,600
CUSTER  $484,350  $620,200  $749,650  $931,600
DELTA  $484,350  $620,200  $749,650  $931,600
DENVER  $561,200  $718,450  $868,400  $1,079,250
DOLORES  $484,350  $620,200  $749,650  $931,600
DOUGLAS  $561,200  $718,450  $868,400  $1,079,250
EAGLE  $696,900  $892,150  $1,078,400  $1,340,200
ELBERT  $561,200  $718,450  $868,400  $1,079,250
EL PASO  $484,350  $620,200  $749,650  $931,600
FREMONT  $484,350  $620,200  $749,650  $931,600
GARFIELD  $718,750  $920,150  $1,112,250  $1,382,250
GILPIN  $561,200  $718,450  $868,400  $1,079,250
GRAND  $484,350  $620,200  $749,650  $931,600
GUNNISON  $484,350  $620,200  $749,650  $931,600
HINSDALE  $484,350  $620,200  $749,650  $931,600
HUERFANO  $484,350  $620,200  $749,650  $931,600
JACKSON  $484,350  $620,200  $749,650  $931,600
JEFFERSON  $561,200  $718,450  $868,400  $1,079,250
KIOWA  $484,350  $620,200  $749,650  $931,600
KIT CARSON  $484,350  $620,200  $749,650  $931,600
LAKE  $625,500  $800,775  $967,950  $1,202,925
LA PLATA  $484,350  $620,200  $749,650  $931,600
LARIMER  $484,350  $620,200  $749,650  $931,600
LAS ANIMAS  $484,350  $620,200  $749,650  $931,600
LINCOLN  $484,350  $620,200  $749,650  $931,600
LOGAN  $484,350  $620,200  $749,650  $931,600
MESA  $484,350  $620,200  $749,650  $931,600
MINERAL  $484,350  $620,200  $749,650  $931,600
MOFFAT  $484,350  $620,200  $749,650  $931,600
MONTEZUMA  $484,350  $620,200  $749,650  $931,600
MONTROSE  $484,350  $620,200  $749,650  $931,600
MORGAN  $484,350  $620,200  $749,650  $931,600
OTERO  $484,350  $620,200  $749,650  $931,600
OURAY  $484,350  $620,200  $749,650  $931,600
PARK  $561,200  $718,450  $868,400  $1,079,250
PHILLIPS  $484,350  $620,200  $749,650  $931,600
PITKIN  $718,750  $920,150  $1,112,250  $1,382,250
PROWERS  $484,350  $620,200  $749,650  $931,600
PUEBLO  $484,350  $620,200  $749,650  $931,600
RIO BLANCO  $484,350  $620,200  $749,650  $931,600
RIO GRANDE  $484,350  $620,200  $749,650  $931,600
ROUTT  $625,500  $800,775  $967,950  $1,202,925
SAGUACHE  $484,350  $620,200  $749,650  $931,600
SAN JUAN  $484,350  $620,200  $749,650  $931,600
SAN MIGUEL  $625,500  $800,775  $967,950  $1,202,925
SEDGWICK  $484,350  $620,200  $749,650  $931,600
SUMMIT  $625,500  $800,775  $967,950  $1,202,925
TELLER  $484,350  $620,200  $749,650  $931,600
WASHINGTON  $484,350  $620,200  $749,650  $931,600
WELD  $484,350  $620,200  $749,650  $931,600
YUMA  $484,350  $620,200  $749,650  $931,600

Freddie Mac 2019 Loan Amount Increase Announcement 

Fannie Mae 2019 Loan Amount Increase Announcement 

Federal Housing Finance Agency Loan Limits Interactive Map


How To Shop For a Mortgage


Shopping around for the best mortgage offer can be overwhelming. We would like to explain a few things that will help you simplify this process and help eliminate all of the stress and confusion that you may experience when comparing rates and fees with various lenders. If you want to skip all of the technical stuff, you can scroll to the bottom and get the simplified version of how it all works. 

Where Do You Start? How To Shop For a Mortgage

There will be lots of loan disclosures when applying for a mortgage. For now you can disregard all of them and focus on only one document called the “LOAN ESTIMATE” sometimes referred to as the “LE‘. This document is similar to what used to be called the Good Faith Estimate. The loan estimate will tell you everything you need to know about the interest rate and fees that the lender is charging. It is the only document that you’ll need when shopping for the best mortgage offer. Please note, there are many other important loan disclosures that consumers need to be aware of but for the purposes of comparing loan offers, there is no document more important than the Loan Estimate. 

It is important to note that a lender will often not provide a Loan Estimate until the consumer has provided them with additional information such as a property address, credit scores, income, etc. In fact, by law, a loan estimate is only required to be provided once the bank has 6 pieces of information which include the borrower’s name, social security number, property address, estimated loan amount, consumer’s income, and estimated property value. Once the bank has these 6 pieces of information, they have 3 business days to disclose a loan estimate to the consumer.

If the consumer is not ready to provide the bank with their personal information, the bank can prepare an alternative document typically called a Fees Worksheet. The information below is specifically regarding the Loan Estimate but can still be used to help understand a Fees Worksheet or any other estimates prepared by the lender. Be aware, a Loan Estimate is a formal legally binding document whereas the Fees Worksheet is not.

Locked Rate VS Unlocked Rate

Before we get into the loan estimate, its important to understand the difference between a locked and unlocked interest rate. If a consumer would like to proceed with a lender, they will need to decide if they want to lock-in the interest rate. If a rate is not locked, the consumer is at the mercy of the market. Meaning, if they don’t lock and rates improve, they will get the benefit of the lower rate or vice versa. It’s important to have this conversation with the loan officer/bank before proceeding with any loan offer. Also, when a rate gets locked, there are lender related fees that should also be locked along with the rate. For example, if a consumer locks the rate with zero points/origination, the bank cannot later add points to the loan unless an extenuating circumstance happens that causes a major change in the loan itself. Assuming there are no changes to the loan, it is illegal for the bank to add certain fees such as points or processing fees after the locked loan estimate has been disclosed. We provide some more details below. 

What is a Loan Estimate

The Loan Estimate is a preliminary estimate on all fees and loan terms such as the interest rate, term, loan amount, fixed/adjustable rate, etc. This document is standard across the country so Colorado residents will be looking at the same document as others who live in other States. A Loan Estimate can be disclosed before an interest rate is locked or after. If the Loan Estimate reflects a locked rate, the lender is obligated to honor that interest rate and certain fees unless an extenuating circumstance arise such as switching to a completely different loan program, changing the loan term(30 year to 15 year), change in property value or other unexpected factors that arise during the loan process. At the time of the lock, the loan officer/bank should be able to explain to the consumer if there is any potential for the interest rate or fees to change in the future. 

How To Read a Loan Estimate

The LE is a very thorough 3-page document but only a few parts are important when shopping for the best mortgage offer. This does not mean that other closing costs are not important. There are 3rd party costs that lenders do not control so we want to focus specifically on the costs that a lender does control. When comparing mortgage offers, you will want to review 3 items that we will cover below. Make sure that you are comparing the same loan program with each lender. For example, if you are comparing an FHA loan to a conventional loan, the loan estimates will be drastically different. Print out a full Loan Estimate here.

Page 1/Item #1 of the LE – Interest Rate

On page 1 you will find the summary of your loan. This will give you the loan interest rate, the length of the loan, the type of loan(fixed or adjustable), and whether the loan has a balloon or prepayment penalty. Review page 1 to make sure the interest rate, and monthly payment are as you have requested. This estimate will also include property taxes, homeowners insurance and other 3rd party obligations like HOA(Homeowners Association). You will also want to clarify if your loan has mortgage insurance. Mortgage insurance is a monthly fee that is added to your monthly payment and affects your APR(annual percentage rate) so make sure you know how much your mortgage insurance is and if and when it can be removed.

Page 2/Item #2 | Box A(Origination Charges) of the Loan Estimate


Now that you’ve compared the interest rate, we can move on to the closing costs on page 2. The screenshot below is where you will be comparing the lender fees(Loan Costs). All lender related fees go into Box A. Origination charges. You will see the breakdown below such as an underwriting fee, processing fee, etc. It doesn’t really matter what the combination of fees is because as the borrower, you will be paying for all of them. You want to just look at the total of all of the origination charges in bold. All other fees on the loan estimate are 3rd party costs and/or related to escrow(taxes/insurance). Box B does have some fees that the lender charges but that is usually for 3rd party vendors such as credit reports and appraisals. Lenders do not receive any compensation on fees listed in Box B. 

Page 2/Item #3 – Lender credit – VERY IMPORTANT

What is a lender credit? This is a rebate or credit that the lender gives you to help pay for the closing costs. So for example, if your closing costs are $5,000 and the lender credit is $4,000, than your actual closing costs are only $1,000. The lender credit will reflect under Box J. 

Why is the lender credit important? The credit may offset any lender fees that the lender is charging in Box A. So even though Box A may look like the lender is charging a bunch of fees, if the lender credit covers those fees than you will not have to pay them. For example, a lender is charging $$4,250 in origination charges with zero lender credit vs a lender charging $6,200 in origination charges with a $5,700 lender credit. Who is offering less closing costs? Its the 2nd lender since the lender credit will cover $5,700 of the $6,200 origination fee leaving only $500 vs the first lender who is charging $4,250 origination with zero lender credit. So the 2nd lender will have $3,750 cheaper closing costs.  

The Short Version

When comparing mortgage offers, you need to request a “Loan Estimate” from the lender. If lender cannot provide a Loan Estimate, ask for a Fees Worksheet or itemized estimate of the closing costs. You are comparing only 3 things:

  1. The interest rate on page 1. For the most part self-explanatory. This is the rate the lender is charging. Make sure you are comparing the same loan program and term. So don’t compare a 15-year term with one lender and a 30-year term with another.  
  2. BOX A. Origination Costs(loan costs) on page 2. These are the lender fees the lender is charging including but not limited to Points, Application fees, Underwriting, Processing, and Administration fees.
  3. Box J(lender credits) on the bottom right of page 2. So Box J will show the closing costs minus any lender credits which will give you the final/total closing costs. The lender credit will offset loan costs in Box A. Origination Charges and/or 3rd party costs such as escrows, title insurance, etc. 
All other figures on the Loan Estimate will essentially be the same with every lender including escrows(Boxes E-H), title charges, and other 3rd party fees(Box B-C). Don’t get overwhelmed when comparing Loan estimates. Focus on the 3 items above!

Is It Just About Rates and Fees?

Although shopping for the lowest interest rates and fees is crucial when you’re trying to find the right lender, other factors may also be important. Lenders will have different loan programs and guidelines that may impact the client’s decision. In some cases, the client’s financial situation may limit them to work with only a certain lender(s). Location may also play a role when considering which lender to work with. We hope this information has been beneficial to you and look forward to answering any questions you may have!

Colorado Property Taxes

Below is a chart of the average Colorado tax rate. The Total Tax Rate of .075541 basically means 7.55% of your home’s appraised value. So for example if your home is worth $200,000, your annual property taxes would be $1,510.

County Tax Rate 0.013980
City Tax Rate 0.008752
School District Tax Rate 0.052116
Water and Sanitation Tax Rate 0.000693
Total Tax Rate 0.075541

Denver County will typically have lower property taxes but smaller, newer Cities like Centennial or Highlands Ranch, can be twice as much. If you look closer at the tax rates above, you’ll notice that majority of Colorado property taxes go towards paying for our public schools. Bigger cities like Aurora and Colorado Springs will also have cheaper property taxes due to higher population and having a more established city governments.

Get more info about property taxes directly from