CHFA Program · Colorado
CHFA FirstGeneration Program
First in your family to buy a home? That’s a legacy worth starting. CHFA’s FirstGeneration program offers up to $25,000 in down payment assistance to help you do it.
Overview
Breaking the cycle, building wealth.
The FirstGeneration program is built for buyers whose families have never owned a home. It provides $25,000 in down payment assistance as a deferred second mortgage — there’s no monthly payment, and you only repay it when you pay off your first mortgage, sell, refinance, or the home stops being your primary residence.
How it works
The essentials
The assistance
$25,000, deferred
A silent second mortgage with no monthly payment. Repaid only on payoff, sale, refinance, or when the home is no longer your primary residence.
Who counts
First-generation, defined
Someone who has never owned a home and whose parents or guardians never owned a home during your lifetime. Only one borrower needs to be first-generation — but all borrowers must be first-time buyers (no ownership in the last three years).
Foster-care path
An important exception
If you were formerly in foster care, you don’t have to meet the first-generation test — you just need to be a first-time homebuyer.
Who it is for
Do you qualify?
- Buyers whose parents/guardians never owned a home
- First-time homebuyers (no ownership in 3 years)
- Formerly-fostered buyers (first-time buyer only)
- Buyers using a CHFA first mortgage
- Households within CHFA income limits
- Buyers who complete homebuyer education
At a glance
Program highlights
$25,000 assistance
One of the most generous DPA amounts in Colorado.
No monthly payment
Deferred until sale, refinance or payoff.
One borrower qualifies
Only one applicant must be first-generation.
Foster-care exception
A dedicated path for formerly-fostered buyers.
No deadline
Ongoing program with no funding cutoff.
Pairs with a CHFA loan
Built to layer on a CHFA first mortgage.
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.
Start your family’s homeownership story.
Every situation is different. Let me confirm your eligibility and run the numbers. Call (303) 557-3846 or start online.