The Colorado Housing and Finance Authority offers numerous flexible financing programs for first time homebuyers, affordable rental housing development, and business growth in Colorado. In addition, CHFA's professional staff stands ready to structure financing opportunities for the home purchase, multifamily housing development, and business financing needs of our clients.

Business Finance| Home Finance | Rental Finance |  Other Products & Services 

Business Finance programs

In response to the financing needs of businesses across the state, CHFA's Business Finance Division offers three categories of funding programs: direct loans, secondary market programs, and special projects.

Direct Loan programs:

• SBA 504 - Owner-occupied commercial real estate financing program providing a fixed rate and working capital in conjunction with the Small Business Administration's (SBA's) 504 loan program.
• Business & Industry 1 Program (B&I 1) - Fixed rate real estate and equipment financing for businesses located in communities of less than 50,000 in population.
• CHFA Direct - Fixed rate, long term financing for real estate and/or manufacturing equipment for businesses located anywhere in Colorado, amortized for up to 20 years for real estate and seven years for equipment.
• Nonprofit Real Estate Program (NPRE) - Fixed rate real estate financing for nonprofit organizations statewide.
• RENEW Loan Program - A loan program to finance the real estate and equipment utilized in waste diversion and recycling.
• Rural Loan Program - Loans for real estate and equipment at fixed interest rates for Colorado businesses located in communities with populations under 25,000.

Secondary Market programs:

• Business & Industry 2 Program (B&I 2) - Real estate and equipment loans for businesses in rural locations, with a fixed rate, 25-year term.
• Quality Agriculture Loan Program (QAL) - CHFA purchases bank-originated loans for farm and ranch related land, equipment, and machinery, providing the borrower with below market fixed interest rates for up to 30 years.
• Quality Investment Capital Program (QIC) - CHFA purchases bank-originated, SBA-guaranteed loans for small businesses for working capital, equipment, and real estate, providing fixed rate financing for up to 25 years.

Special programs:

• Brownfields Revolving Loan Fund - A loan program administered by CHFA for the cleanup of environmentally contaminated properties, available statewide.
• Manufacturing Revenue Bond Program - Provides financing of real estate, machinery and equipment for expansion of manufacturing companies through tax exempt Private Activity Bond funds. Borrowers must meet eligibility thresholds and federal tax code requirements and must compete for available Volume Cap.

• MRB FirstStep - A first mortgage with a low, competitive interest rate fixed for 30 years, with an optional second mortgage for up to 3% of the first mortgage amount. The optional second mortgage has a 0% interest rate, and payments are deferred until the first mortgage is paid off. MRB First Step is reserved for first time homebuyers, and the program has income and purchase price limits.
• Taxable Home Opener - A first mortgage program with a competitive interest rate fixed for 30 years, with an optional 0% interest second mortgage loan, deferred until the first mortgage is paid off. The program has no purchase price limits, less restrictive income limits, and no first time homebuyer restriction.
• Mortgage Rewards - An affordable mortgage provided by CHFA for clients of Colorado's Consumer Credit Counseling Services' Debt Management Program (DMP) and recent DMP graduates. The program is administered through CCCS.
• HomeAccess & HomeAccess Plus - Low interest rate loans for first time homebuyers when the borrower or someone in the household is disabled, with second mortgage for down payment and closing costs available.
• Down Payment Assistance - Administered through the Colorado Housing Assistance Corporation (CHAC); low interest second mortgage loans to assist eligible homebuyers with down payment and closing costs.
• Housing Opportunity Fund (HOF) - Available to 501(c)(3) organizations and governmental entities to assist their very low income homeownership clients with down payment and closing costs.
• Mortgage Credit Certificate (MCC) - CHFA administers the federal Mortgage Credit Certificate program in some areas of the state. This program enables a federal income tax credit of up to 20% of the home mortgage interest paid.
• Technical Assistance - CHFA Home Finance staff can offer technical assistance to for profit and nonprofit agencies that wish to implement affordable housing programs.
• Homebuyer Education Classes - CHFA-sponsored homebuyer education classes are offered by participating nonprofits throughout the state and are required before obtaining a CHFA home mortgage loan.

• Small Affordable Rental Transaction (SMART) - Up to $1,000,000 loans to nonprofits, for profits, and public housing authorities for refinance, new construction, or acquisition, with or without rehabilitation, of affordable rental housing.
• Super SMART - Up to $2,000,000 loans to nonprofits, for profits, and public housing agencies for refinance, new construction, or acquisition, with or without rehabilitation, of affordable rental housing.
• Tax Exempt Private Activity Bond loans - For nonprofits and public housing authorities to finance new construction or acquisition of affordable rental housing.
• Taxable Private Activity Bond (PAB) loans - To for profit or nonprofit entities for new construction or acquisition and rehabilitation of affordable rental housing.
• Section 8 Preservation - CHFA works with owners of rental properties that have Section 8 subsidies to preserve their status through mortgage restructuring and other means.
• CHFA Housing Fund (Predevelopment Loan Program) - Loans to nonprofits and public housing authorities for up front costs associated with new construction, acquisition, or predevelopment costs of affordable rental housing.
• Housing Opportunity Fund (HOF) - Very low interest loans to nonprofits, public housing authorities, or LIHTC partnerships to finance special needs, family, and elderly housing, with priority to affordability by clients at 50% or less of area median income.
• Low Income Housing Tax Credits (LIHTC) - CHFA allocates Low Income Housing Tax Credits used to raise project equity from investors for new construction or acquisition and rehabilitation of affordable rental housing.
  • Competitive 9% - Applications accepted monthly and preliminary reservations awarded throughout the year based on competitive score of proposed development/rehabilitation project.
  • Noncompetitive 4% - Bond-financed projects are eligible for an approximately 4% LIHTC without competing against projects seeking allocation of 9% LIHTC.

• Rental Acquisition Program (RAP) - CHFA-owned properties throughout the state provide safe, pleasant and affordable rental housing to low and moderate income individuals and families.
• Loan Servicing - CHFA services its own single family, multifamily, and commercial loans. The servicing department can answer questions on payments, taxes, insurance, and payoffs.
• Section 8 Administration - CHFA is HUD's administrator for nearly 300 properties in Colorado that accept Section 8 housing assistance payments, ensuring that the properties meet HUD standards.
• Affordable Housing Resource - CHFA monitors housing related legislation at the state and federal levels; educates state legislators, congress people, and other governmental officials about affordable housing issues; and provides nonpartisan testimony on affordable housing legislation when requested.
• Partnership Building - CHFA fosters partnerships and liaisons with many public, private, and nonprofit organizations including business, trade and commerce associations; community groups; and affordable housing coalitions.