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With CHFA's safe, secure home loan programs, you can live the life you always wanted--owning a place of your own! CHFA has been providing home finance loans for 35 years. When you get a CHFA loan, you can be assured you will receive our excellent customer service, secure loan products, and educational resources.

There is sure to be a CHFA loan product that meets your needs!

Note: To view the income and purchase price limits for all programs listed below, please click on the link in the left navigation bar. You will need Adobe Acrobat Reader, a free download, to view the document.

Homebuyer education requirements

CHFA requires education for all our programs. All homebuyers applying for CHFA's programs can take a free, in-person Homebuyer Education Class through a network of CHFA-approved education providers. Several providers also offer online classes in English and Spanish. The online class requires a follow-up one-on-one counseling session with the agency counselor. Online classes are available for a nominal fee, which counts toward the $1,000 minimum borrower contribution that CHFA requires. View a CHFA Homebuyer Education Class Schedule to see a current listing of classes, including which agencies are currently offering the online classes.

CHFA Preferred and CHFA Preferred Plus

The CHFA Preferred statewide purchase mortgage loan program offers affordable interest rates, a 30-year term, a 3 percent down payment requirement, and low monthly mortgage insurance payments. Eligible borrowers must have a mid credit score of 620 or higher. The CHFA Second Mortgage Loan may be used with the CHFA Preferred loan to cover up to 3 percent of the loan amount for down payment and/or closing costs.

Borrowers must meet income and purchase price limits, as well as complete a CHFA-approved homebuyer education class.


CHFA Advantage

The CHFA Advantage statewide purchase and refinance mortgage loan program is available to homebuyers. This program offers affordable interest rates, a 30-year term, and no mortgage insurance requirement. Eligible borrowers must have a mid credit score of 680 or higher. The CHFA Second Mortgage Loan may not be used with the CHFA Advantage loan.

Borrowers must meet income and purchase price limits, as well as complete a CHFA-approved homebuyer education class. CHFA Advantage purchase loans are not subject to the Federal Recapture Tax provision and may be used in conjunction with the CHFA MCC program.

The CHFA Advantage refinance mortgage loan program has the same requirements as the purchase loan program, excepting the homebuyer education requirement, and cannot be used in conjunction with the CHFA MCC program.


CHFA SmartStep and CHFA SmartStep Plus

The CHFA SmartStep and CHFA SmartStep Plus statewide mortgage loan programs are available to homebuyers. These programs offer affordable interest rates and a 30 year term. CHFA SmartStep Plus includes a 30 year fixed rate second mortgage loan to assist with down payment and/or closing costs.

Borrowers must meet income and purchase price limits, as well as complete a CHFA approved homebuyer education class. CHFA SmartStep and CHFA SmartStep Plus loans are not subject to the IRS Recapture Tax and may be used in conjunction with the Mortgage Credit Certificate (MCC) program.


CHFA HomeOpener and CHFA HomeOpener Plus

CHFA HomeOpener and CHFA HomeOpener Plus are statewide first mortgage programs available to homebuyers. There are no purchase price limits or first time homebuyer requirements, and mortgage loans originated in these programs are not subject to the Recapture Tax provision. The CHFA HomeOpener Plus program includes the CHFA Second Mortgage Loan to assist with down payment and/or closing costs for a single family property. The programs offers market interest rates.

These programs have income limits, and to qualify, you must attend a CHFA-approved homebuyer education class. You must also contribute a minimum $1,000 of your own funds to the purchase of the home. The property must be occupied by the homebuyer and not used as a rental property.

CHFA Second Mortgage Loan

Used in conjunction with the CHFA SmartStep Plus and CHFA HomeOpener Plus programs, this optional loan helps with down payment and closing costs. This loan, if used, will come from the same lender as your primary loan.

The CHFA Second Mortgage Loan is available for up to 3 percent of the first mortgage loan amount at the same interest rate and term (30 years) as the first mortgage. Monthly payments are due on this loan at the same time the payments on the first mortgage loan payments are due. If the first mortgage is refinanced, title transferred, or if the property is no longer the borrower’s principal residence, the CHFA Second Mortgage Loan is due and payable in full. The CHFA Second Mortgage Loan can not be subordinated to any new first mortgage other than one offered by CHFA.

CHFA HomeAccess

People with disabilities or parents of a child with a disability may qualify for the HomeAccess program. This program is available to low income, first time homebuyers or individuals who have not had property ownership or been listed on a title in the past three calendar years. There are purchase price and income limits on these loans.

To assist with down payment and/or closing costs, CHFA provides an optional up to $25,000 CHFA HomeAccess Second Mortgage Loan. Used in conjunction with the HomeAccess first mortgage, this second mortgage is at a zero percent (0%) deferred principal payment. Payment is not due until the sale, refinance, or repayment of the first mortgage, or when the property is no longer the borrower’s primary residence.

CHFA SectionEight and SectionEight Plus Homeownership programs

Renters who receive Housing Assistance Payments (HAP) from Public Housing Authorities (PHA) and are approved by the PHA to participate in their homeownership programs may be eligible for CHFA SectionEight Homeownership program. There are purchase price limits and income limits and the program is only available to first time homebuyers. This program provides a market rate first mortgage. To assist with down payment and/or closing costs, the CHFA SectionEight Plus Second Mortgage Loan is available for up to 3 percent of the first mortgage. Both mortgages are 30 fixed rate loans with a monthly payment.

CHFA Statewide Mortgage Credit Certificate

CHFA Statewide Mortgage Credit Certificate (CHFA MCC)

The CHFA Statewide Mortgage Credit Certificate (CHFA MCC) program allows first time homebuyers and certain qualified homeowners refinancing a mortgage to claim a percentage of their mortgage interest each year as a federal tax credit on their Federal Income Tax Returns. MCCs can be used with either the CHFA SmartStep/SmartStep Plus or the CHFA Advantage home purchase mortgage loan programs. The first time homebuyer requirement is waived if the property is located in a targeted area or if the homebuyer is an eligible veteran purchasing in a non-targeted or targeted area of Colorado. To learn how to reduce your federal income taxes with this program, click here.

Contact the Home Finance Division for more information via email or call 888.320.3688.

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