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Is a CHFA Home Loan for you?

CHFA provides a variety of mortgage programs to home buyers in Colorado, and they now offer a Down Payment Assistant Grant with several of their programs which covers closing costs and/or down payment funds. Most CHFA programs do not require borrowers to be first-time home buyers, but they do require a $1,000 minimum financial investment (which can be gifted). Borrowers must meet program income limits, and the transaction must meet underwriting guidelines.

 

CHFA PROGRAM HIGHLIGHTS ADVANTAGE

ADVANTAGE 

Down payment may come from gift funds.
No monthly mortgage insurance required.

HOMEOPENER (PLUS)

  • Down payment determined by FHA/VA/USDA guidelines Down Payment Assistance Grant available.
  • Monthly mortgage insurance required.

SMART STEP (PLUS)

  • Down payment can be covered by the CHFA Down Payment Assistance Grant.
  • Offers CHFA’s lowest interest rate.

 

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