What is CHFA?
CHFA’s mission is to strengthen affordable housing and economic development across the state. They offer many financial resources to strengthen homeownership, affordable rental housing, and businesses. They also offer education classes and technical assistance to help borrowers succeed.
CHFA has invested more than $10 billion in Colorado’s economy. Their resources have helped:
- 84,472 Colorado homebuyers achieve homeownership;
- 97,761 households attend homebuyer education classes held statewide;
- 58,628 affordable rental housing units be developed or preserved; and
- 3,670 business access capital to support 49,570 jobs.
Home Finance Programs:
borrower qualifications vary by program; however there are certain ones that apply in all or most instances:
- No first time homebuyer requirements on most loan programs
- CHFA-sponsored homebuyer education required with purchase programs and CHFA Mortgage Credit Certificates (CHFA MCCs)
- $1,000 minimum borrower contribution required (may be a gift) on most loan programs
You will find below a brief overview of CHFA programs, along with key benefits of each to help you determine which might be best for you.