DENVER -- The strong demand for homes in the Denver area is keeping prices high and millennials, who are often first-time buyers, out of the market.
"I'm looking at single-family homes, townhouses and condos," said Chyrise Harris, a first-time buyer.
She already has her strategy down during her search: patience and time.
"I want to be in Denver. That's the area I'm most attracted to," Harris said.
Denver is attracting thousands of millennials like Harris, and the cost to buy here isn't cheap.
"We are seeing a lot of first-time home buyers," said Tim Lindsey, president of Bear Mortgage.
He said tight inventory and the high demand aren't the only things making it harder for first-time buyers. For millennials, student debt can hurt.
"A lot of the problem is the student loan that fits into their debt to income ratio and the type of job they have could hinder the loan approval process," Lindsey said.
These are some of the options out there for down payments:
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The Veteran Administration offers a 0% down for veterans
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The Federal Housing Administration has a 3.5% down program
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Freddie Mae and Fanny Mac offer a 1% down on a 400-thousand-dollar loan
Lindsey said the 1% down program is good for those people who just got out of school.