CHFA Program · Colorado
CHFA Down Payment Assistance
The down payment is the number-one barrier to buying — CHFA helps knock it down. Get up to $25,000 toward your down payment and closing costs, as a grant or a low-cost second mortgage.
Overview
Colorado’s down payment safety net.
The Colorado Housing and Finance Authority (CHFA) helps buyers cover the upfront cost of a home. When you use a CHFA first mortgage, you can layer on one of two assistance options to fund your down payment — and in many cases your closing costs — so you can get to the closing table with far less out of pocket.
How it works
Two ways to get help
Option 1
Down Payment Grant
Up to the lesser of $25,000 or 3% of your first mortgage — money you never repay. On a $200,000 loan, that’s about $6,000. Comes with a slightly higher interest rate on your first mortgage.
Option 2
Second Mortgage
Up to the lesser of $25,000 or 4% of your first mortgage — repayment deferred until you pay off, sell, refinance, or move out. On a $200,000 loan, that’s about $8,000. Buyers with a permanent disability or first-generation buyers can access the full $25,000 regardless of loan size.
Who it is for
Do you qualify?
- Colorado buyers using a CHFA first mortgage
- Buyers short on down payment savings
- First-time and many repeat buyers
- Buyers who complete CHFA homebuyer education
- Borrowers within CHFA income limits
- Buyers who want to keep more cash in the bank
At a glance
Program highlights
Up to $25,000
Toward your down payment and eligible closing costs.
Grant or second mortgage
Choose the structure that fits your plans.
Statewide
Available across Colorado through participating lenders.
Deferred repayment
The second-mortgage option has no monthly payment.
Pairs with a CHFA loan
Layers on top of a CHFA first mortgage.
Education included
CHFA homebuyer education sets you up to succeed.
CHFA programs are administered by the Colorado Housing and Finance Authority and offered through CHFA Participating Lenders, subject to CHFA guidelines, income limits and eligibility. Assistance amounts, interest rates and terms are set by CHFA and subject to change. Homebuyer education is required. This is not a commitment to lend. Contact David to confirm current terms and your eligibility.
Ready to cover your down payment?
Every situation is different. Let me confirm your eligibility and run the numbers. Call (303) 557-3846 or start online.
CHFA is Colorado’s statewide program. See everywhere I lend, or the city pages for Westminster, Denver and Aurora.