CHFA Program · Colorado
CHFA Schools to Home
Colorado’s educators and school staff give everything to our kids. Schools to Home gives back — up to 25% of your loan amount in down payment assistance, built for the people who build our schools.
Overview
A home for those who teach.
Schools to Home is a CHFA program created for Colorado’s public-school workforce. It pairs a CHFA fixed-rate first mortgage with a second mortgage for down payment and closing-cost assistance of up to 25% of your first mortgage amount — a level of help most programs can’t match. In exchange for that larger assistance, the program uses a shared-appreciation structure, explained in detail below.
How it works
How the assistance works
Who qualifies
Colorado school employees
Any full-time employee of a Colorado preK-12 public school, school district, charter school, institute charter school, BOCES, or innovation zone. Only one borrower on the loan needs to qualify.
The help
Up to 25% down payment help
A CHFA first mortgage plus a second mortgage worth up to 25% of your first mortgage amount, applied to your down payment and closing costs.
The trade-off
Shared appreciation
Repayment is deferred, but at payoff, sale or refinance you repay the full DPA plus a shared-appreciation payment based on how much your home has gained. See the formula below.
The math, made clear
How shared appreciation is calculated
When you sell, refinance, or pay off your loan, you repay the full DPA plus a shared-appreciation payment. The shared-appreciation payment is your home’s total appreciation multiplied by your DPA divided by your original purchase price:
Shared Appreciation = Total Appreciation × (DPA ÷ Purchase Price)
Source: Colorado Housing and Finance Authority (illustrative example).
Step by step
- Purchase price: $437,500 · Loan amount: $350,000
- DPA (25% of the loan): $87,500
- Later, the home is worth $480,000 — appreciation of $42,500
- Shared appreciation: $42,500 × ($87,500 ÷ $437,500) = $8,500
- Total funds owed: $87,500 DPA + $8,500 = $96,000
- Remaining equity: ($480,000 − $350,000) − $96,000 = $34,000
Important
That $34,000 is before selling costs
CHFA’s example shows equity after repaying the loan, DPA, and shared appreciation — but not real estate commissions or closing costs. On a short hold, roughly 5–6% in commissions can consume most of what’s left. See the blog post below before you decide.
Who it is for
Do you qualify?
- Full-time Colorado public-school employees
- Teachers, staff, paraprofessionals and administrators
- Charter, BOCES and innovation-zone employees
- Buyers who need significant down payment help
- Buyers who complete the required courses
- Households within CHFA income limits
At a glance
Program highlights
Up to 25% DPA
Assistance worth up to 25% of your first mortgage amount.
For school employees
Only one borrower must be a qualifying employee.
Deferred repayment
No monthly payment on the assistance.
Shared appreciation
Appreciation × (DPA ÷ purchase price) is owed on top of the DPA.
Two required courses
“Understanding Your Financial Commitment” + homebuyer education.
Colorado-wide
Available to eligible school staff statewide.
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. Figures shown are CHFA illustrative examples, not a quote. This is not a commitment to lend. Contact David to confirm current terms and your eligibility.
Educators — let’s get you home.
Every situation is different. Let me confirm your eligibility and run the numbers — including your real timeline. Call (303) 557-3846 or start online.