Benefits of CHFA SmartStep Program

Young Couple Buying First Home

CHFA SmartStep Program CHFA SmartStep purchase mortgage program is open to home-buyers that have a mid credit score of 620 or higher.

This program features CHFA’s lowest mortgage interest rate.  It features FHA, VA, and USDA Rural Development. If you qualify, you may also pair CHFA SmartStep with CHFA’s down payment and closing cost assistance programs.  You may also add a CHFA Statewide Mortgage Credit Certificate (CHFA MCC) for an annual tax credit.

How it Works

The CHFA SmartStep program: • May be used by first time and non-first time homebuyers; • Offers fixed interest rates and a 30-year term; • Can be paired with an optional CHFA DPA Grant, with no repayment required, for down payment, closing costs, and/or prepaids assistance; • Can also be paired with closing cost assistance through Borrower Premiums for 1 or 2 percent of your first mortgage loan amount (higher interest rates apply)


Applicants must meet the following minimum criteria:

  • Meet income limits
  • Complete a CHFA homebuyer education class (online or in-person) prior to loan closing
  • Contribute a minimum of $1,000 toward the transaction
  • Have a mid credit score of 620 or higher

In addition to qualifying for the CHFA program guidelines, you must also qualify according to the first mortgage underwriting guidelines as determined by your CHFA Participating Lender.

Looking to the Future

Want help or advice to start moving forward into a new home, we would love to help at Colorado Mortgage Group. Call today at (303) 444-5251 or email us at

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