Programs to help first-time home buyers

Special to The PREVIEW

Q: Are there any programs for first-time home buyers that would reduce the down payment or other expenses of getting a mortgage and buying a home?

A: One of the obstacles many first-time buyers face in purchasing a home is having enough money saved for the down payment. Here in Colorado, the competition for properties is so strong that those buyers able to make a larger down payment often have an advantage over others. And, with the value of real estate increasing throughout most of the state over the last few years, the amount a buyer needs for a down payment has also increased.