Denver vs Aurora for First-Time Buyers: Condos, FHA and HOAs

The Short Answer

Choose Denver if you want to live in the city, close to rail and downtown, and you are comfortable with a condo or an older home that needs careful inspection. Choose Aurora if you want a wider range of neighborhoods and newer homes, and you are ready to compare metro district taxes and HOA dues. For a first home, the type of property and the loan matter as much as the city.

One County vs Three

Denver has been a consolidated city and county since 1902, so every Denver address has the same county government and one property tax authority. Aurora is spread across three counties: most residents live in Arapahoe County, with smaller parts in Adams and Douglas. In Aurora, the county affects the tax bill, so check it for every address.

Buying a Condo With an FHA or VA Loan

Condos are a common first home, especially in Denver. But an FHA loan on a condo only works if the building is FHA-approved or the unit qualifies for what HUD calls Single-Unit Approval, which applies to completed projects with at least five units that meet certain owner-occupancy and financial rules. HUD has a public search tool for FHA-approved condos. VA loans have their own rule: the condo project must be approved by VA.

This is why it helps when your agent is also your loan officer. Tamila checks the building before you fall in love with a unit, not after the offer is accepted.

Credit Scores and Down Payment

Under HUD rules, FHA borrowers with a credit score of 580 or higher can get maximum financing, while scores from 500 to 579 need at least 10% down. Tamila offers programs for credit scores from 500 and even options with no credit score, along with FHA, VA, USDA, conventional and down payment assistance loans. Every situation is different, so just ask.

Colorado buyers can also look at the programs of the Colorado Housing and Finance Authority (CHFA), which offers home loans through participating lenders, down payment and closing cost help as grants or second mortgages, and free homebuyer education classes.

HOA Documents: Read Them Before the Deadline

Most condos and many Aurora subdivisions have an HOA. The standard Colorado purchase contract gives buyers the right to review the association documents: the declaration, bylaws and rules, meeting minutes, insurance, the list of regular and special assessments, the budget and reserves, and any notice of a construction defect action. If something in them is not acceptable, you can terminate by the Association Documents Termination Deadline in your contract.

Look closely at the reserves, any special assessments and the rules on rentals and pets. Colorado's HOA Information and Resource Center explains owners' rights under the Colorado Common Interest Ownership Act, but it does not regulate or discipline HOAs, so the review before closing is your best protection.

Older Homes in Denver: Check the Water Line

Denver has many historic neighborhoods, such as Park Hill, along with newer areas like Central Park, built on the site of the old Stapleton airport. In older homes, ask about the water service line. Denver Water is replacing lead service lines with copper at no direct cost to customers, and its website has an address search that shows the risk for a property. A sewer line camera inspection is also worth it for an older house.

Metro Districts in Aurora

Many newer Aurora neighborhoods are inside a metro district: a special taxing district that pays for the streets, water lines and parks built for the subdivision. Its tax appears on the property tax bill and can change the monthly payment noticeably, often in addition to HOA dues. Ask for the full tax bill on every home, and test the payment in our Colorado mortgage calculator, which has a separate field for metro district tax.

Schools

Denver Public Schools serves the whole city and uses one application, SchoolChoice, where families rank the schools they want, so you are not limited to the school nearest your home. In Aurora, the district depends on the address: mainly Aurora Public Schools or Cherry Creek Schools, with some areas in 27J, Douglas County or Bennett. Tamila checks the district for every address before you tour it.

Getting Around and Getting to Work

The RTD A Line runs from Union Station in downtown Denver through Central Park and northern Aurora to Denver International Airport. Aurora has the R Line light rail, which meets the A Line at Peoria station, and the H Line stops at Dayton and Nine Mile stations. Buckley Space Force Base is Aurora's largest employer, and the Anschutz Medical Campus, with the University of Colorado Hospital and Children's Hospital, is also in Aurora. In Denver, Denver Health is one of the largest employers.

What to Watch for When You Buy

• Denver condo: confirm FHA or VA approval for the building before you write an offer if you plan to use one of those loans.
• Denver older home: check the water service line and order a sewer scope.
• Aurora: confirm the county, the school district, the metro district tax and the HOA dues for the exact address.
• Both: read the HOA documents before your deadline and compare homes by the full monthly payment, not by price alone.

Already Own a Home?

If you are selling a home and buying your next one in Denver or Aurora, Tamila can handle both sides. When you sell and buy with her, her listing fee is 1% instead of the usual up to 3% (the buyer's agent is paid separately). She is also a mortgage loan officer licensed in Colorado and Florida, so the sale, the purchase and the loan are handled by one person.

Sources

• Denver (Wikipedia: 2020 census, consolidated city and county, employers, neighborhoods)
• Aurora, Colorado (Wikipedia: 2020 census, counties, school districts, rail, Buckley, Anschutz)
• A Line (RTD) (Wikipedia)
• FHA Condominiums: project approval and Single-Unit Approval (HUD)
• Search for FHA-approved condominiums (HUD)
• Condo approvals for lenders (U.S. Department of Veterans Affairs)
• Mortgagee Letter 2010-29: FHA credit score and loan-to-value rules (HUD)
• Homeownership programs (Colorado Housing and Finance Authority)
• Contract to Buy and Sell Real Estate (Residential), association documents (Colorado Division of Real Estate)
• About the HOA Information and Resource Center (Colorado Division of Real Estate)
• What is the Lead Reduction Program? (Denver Water)
• SchoolChoice overview (Denver Public Schools)
• Metro districts: resident impact (City of Arvada)

Facts checked October 19, 2026. Taxes, school boundaries and programs change; verify for a specific address.