Document:

Exhibit 4.3

                              CONSENT OF GUARANTORS

         Each of the  undersigned  (a) is a Guarantor  under a Guaranty (each, a
"Guaranty")  dated  October  8,  1999  guarantying  the  obligations  of  M.D.C.
Holdings, Inc. under a certain Credit Agreement dated as of October 8, 1999 (the
"Credit  Agreement";  terms used herein shall have the meanings  provided for in
the Credit Agreement), (b) does hereby acknowledge and consent to the Commitment
and   Acceptance  of  even  date  herewith  by  and  among  the  Borrower,   the
Administrative  Agent,  and  California  Bank  &  Trust,  a  California  banking
corporation,   providing  for  an  increase  of  the  Aggregate   Commitment  to
$375,000,000  and (c)  acknowledges  and agrees that its  obligations  under its
Guaranty remain in full force and effect.

         This Consent of  Guarantors  is executed and delivered as of August 22,
2000.

                                        RICHMOND AMERICAN HOMES OF CALIFORNIA,
                                         INC., a Colorado corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                        RICHMOND AMERICAN HOMES OF MARYLAND,
                                         INC., a Maryland corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                        RICHMOND AMERICAN HOMES OF NEVADA,
                                         INC., a Colorado corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                        RICHMOND AMERICAN HOMES OF Virginia,
                                         INC., a Virginia corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                        RICHMOND AMERICAN HOMES OF ARIZONA,
                                         INC., a Delaware corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

<PAGE>

                                        RICHMOND AMERICAN HOMES OF COLORADO,
                                         INC., a Delaware corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                        RICHMOND AMERICAN HOMES OF NORTHERN,
                                         CALIFORNIA, INC., a Colorado
                                         corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                        M.D.C. LAND CORPORATION, INC.,
                                         a Colorado corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                        RICHMOND AMERICAN CONSTRUCTION, INC.,
                                         a Delaware corporation

                                        By:  /s/ John J. Heaney
                                           ------------------------------------
                                        Name:    John J. Heaney, Vice President

                                       2Exhibit 4.4

                            COMMITMENT AND ACCEPTANCE

         This Commitment and Acceptance (this "Commitment and Acceptance") dated
as of  October  16,  2000,  is  entered  into  among the  parties  listed on the
signature pages hereof.  Capitalized terms used herein and not otherwise defined
herein shall have the meanings  attributed  to them in the Credit  Agreement (as
defined below).

                             PRELIMINARY STATEMENTS

         Reference is made to that certain Amended and Restated Credit Agreement
dated as of October 8, 1999,  by and among M.D.C.  Holdings,  Inc., as Borrower,
Bank One, NA, as  Administrative  Agent,  and the Banks that are parties thereto
(as the  same  may  from  time to time be  amended,  modified,  supplemented  or
restated,  in whole or in part  and  without  limitation  as to  amount,  terms,
conditions or covenants, the "Credit Agreement").

         Pursuant  to  Section  2.5(d) of the  Credit  Agreement,  Borrower  has
requested  an increase  in the  Aggregate  Commitment  from  $375,000,000.00  to
$413,000,000.00.  Such  increase  in  the  Aggregate  Commitment  is  to  become
effective on October 16, 2000 (the  "Increase  Date").  In connection  with such
requested increase in the Aggregate Commitment, Borrower,  Administrative Agent,
and U.S.  Bank  National  Association  (the  "Accepting  Bank")  hereby agree as
follows:

         1.  ACCEPTING  BANK'S  COMMITMENT.  Effective as of the Increase  Date,
Accepting  Bank shall become a party to the Credit  Agreement  as a Bank,  shall
have all of the rights and obligations of a Bank  thereunder,  shall agree to be
bound by the terms and provisions  thereof and shall thereupon have a Commitment
under and for purposes of the Credit  Agreement in an amount equal to the amount
set forth opposite its name on the signature page hereof.

         2. REPRESENTATIONS AND AGREEMENTS OF ACCEPTING BANK. Accepting Bank (i)
confirms  that it has  received a copy of the Credit  Agreement,  together  with
copies of the financial  statements  requested by Accepting  Bank and such other
documents and  information  as it has deemed  appropriate to make its own credit
analysis and decision to enter into this Commitment and Acceptance,  (ii) agrees
that it will,  independently and without reliance upon  Administrative  Agent or
any  Bank  and  based  on  such  documents  and  information  as it  shall  deem
appropriate at the time,  continue to make its own credit decisions in taking or
not taking  action  under the Loan  Documents,  (iii)  appoints  and  authorizes
Administrative  Agent to take such action as Administrative  Agent on its behalf
and to  exercise  such  powers  under the Loan  Documents  as are  delegated  to
Administrative  Agent by the terms  thereof,  together  with such  powers as are
reasonably  incidental  thereto,  (iv) agrees that it will perform in accordance
with their terms all of the obligations which by the terms of the Loan Documents
are  required  to be  performed  by it as a Bank,  (v) agrees  that its  payment
instructions  and  notice  instructions  are as set forth in the  attachment  to
Schedule 1, and (vi)  confirms that none of the funds,  monies,  assets or other
consideration  being used to make the commitment  and  acceptance  hereunder are
"plan assets" as defined under ERISA and that its rights, benefits and interests
in and under the Loan Documents will not be "plan assets" under ERISA.

<PAGE>

         3.  REPRESENTATION OF BORROWER. Borrower hereby represents and warrants
that as of the date hereof and as of the  Increase  Date,  no event or condition
shall  have  occurred  and then be  continuing  which  constitutes  a Default or
Unmatured Default.

         4.  GOVERNING LAW.  This Commitment and Acceptance shall be governed by
the internal law, and not the law of conflicts, of the State of Illinois.

         5.  NOTICES.  For the purpose of notices to be given under the Credit
Agreement, the address of Accepting Bank (until notice of a change is delivered)
shall be the address set forth in Schedule 1.

                                       2
<PAGE>

         IN WITNESS  WHEREOF,  the parties hereto have executed this  Commitment
and  Acceptance  by their duly  authorized  officers  as of the date first above
written.

                                            BORROWER:

                                            M.D.C. HOLDINGS, INC.

                                            By: /s/ John J. Heaney
                                               --------------------------------
                                            Name:   John J. Heaney
                                                 ------------------------------
                                            Title:  Senior Vice President and
                                                    Treasurer
                                                  -----------------------------

                                            ADMINISTRATIVE AGENT:

                                            BANK ONE, NA,
                                                as ADMINISTRATIVE AGENT

                                            By: /s/ Lynn M. Ciuchta
                                               --------------------------------
                                            Name:   Lynn M. Ciuchta
                                                 ------------------------------
                                            Title:  Vice President
                                                  -----------------------------

                                            ACCEPTING BANK:

$38,000,000.00                              U.S. BANK NATIONAL ASSOCIATION

                                            By: /s/ Michael Raarup
                                               --------------------------------
                                            Name:   Michael Raarup
                                                 ------------------------------
                                            Title:  Vice President
                                                  -----------------------------

                                        3

<PAGE>

                                   SCHEDULE 1
                          to Commitment and Acceptance

1.       Attach Accepting Bank's Administrative Information Sheet, which must
         include its payment instructions and notice address.

                                        4

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