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Recovery Progress

On February 17, 2009, President Obama signed the American Recovery and Reinvestment Act (ARRA) into law. CHFA is the statewide administrator of two programs created within ARRA, the Tax Credit Assistance Program (TCAP) and the Tax Credit Exchange Program. Additionally, CHFA created a home finance program to work in conjunction with the $8,000 Federal First Time Homebuyer Tax Credit. Learn more about these programs below.



Denver Gardens is a case study of how several government funded programs are coming together to ensure our nation’s most vulnerable populations are being protected during these challenging economic times. This project has combined assistance from both federal and state funded programs as well as the American Recovery and Reinvestment Act (ARRA) to provide housing to low income seniors in southeast Denver, while at the same time creating jobs and spurring economic investment in our community.


Colorado Housing and Finance Authority (CHFA) saw a way to help Colorado’s first time buyers leverage the tax credit into down payment and/or closing costs assistance. To accomplish this, CHFA developed a new program entitled CHFA JumpStart. CHFA JumpStart offers borrowers a 30-year fixed rate mortgage with competitive interest rates to pay for the home, and an interest-free, payment-deferred second mortgage to cover down payment and/or closing costs.





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