In 2025, CHFA continued to advance its mission, building on more than five decades of investing in affordable housing and community development. This year marked my first as Executive Director and CEO, and I am honored to be part of an organization working alongside communities and partners toward a stronger, more prosperous Colorado.

CHFA invested a total of $2.9 billion in 2025. These investments helped Coloradans attain homeownership, supported the construction and preservation of affordable rental housing, bolstered businesses and local economies, and funded mission-aligned nonprofits across the state. While CHFA remained dedicated to its established programs, we were also responsive to customer feedback and shifting market dynamics, revamping and streamlining processes to better serve our customers, while implementing new and innovative programs to address evolving challenges.

I’m proud to share this Community Report with you, which includes stories of some of the people and organizations impacted by this work. Looking ahead, CHFA remains dedicated to its vision, yet mindful that it cannot be realized alone. I am grateful for the ongoing collaboration of the many valuable partners who share in this work, and who envision a Colorado where everyone will have the opportunity for housing stability and economic prosperity.

Thomas Bryan
Executive Director and CEO

CHFA supported more than 5,400 households in achieving homeownership and served more than 8,700 homebuyer education customers in 2025. Through responsive programs, community outreach, and strategic partnerships, CHFA remained adaptive to market conditions and ongoing feedback from homebuyers and lenders.

Expanding Financial Education Opportunities

CHFA announced a partnership with financial technology platform Zogo, enabling current and prospective Colorado homebuyers to access the Zogo app. The app offers individually tailored financial education modules on a range of topics, including budgeting, saving, building credit, and preparing for homeownership.

Reaching Out to Community

To support Black and African American homebuyers, CHFA hosted Building Legacy: A Black Homeownership Series, in-community events focused on overcoming barriers to homeownership. CHFA also expanded its engagement to include key employer outreach statewide, increasing awareness of CHFA’s homeownership programs among employees seeking to buy a home.

Responding to Customer Feedback

In response to feedback from customers and lenders, CHFA introduced a program to support permanent interest rate buydowns on eligible loans, and expanded eligibility for the CHFA FirstGeneration^sm program, requiring that only one borrower be a first-generation homebuyer. In 2025, 657 borrowers used CHFA FirstGeneration^sm to purchase a home.

CHFA supported the construction or preservation of more than 5,700 affordable rental housing units in 2025. Throughout the year, CHFA deployed new state Housing Tax Credits, worked to implement the housing provisions in H.R. 1, expanded rent reporting across CHFA‑supported properties to help tenants build credit, and streamlined multifamily loan closing processes.

Deploying Housing Tax Credits

CHFA allocated the Middle-income Housing Tax Credit (MIHTC) and Transit-oriented Communities (TOC) credit, new state Housing Tax Credits addressing the need for affordable middle-income rental housing and affordable housing near transit. Work also began to implement the housing provisions in H.R. 1, the federal budget reconciliation bill, which provided the largest boost to the federal Housing Tax Credit in 25 years.

Helping Renters Establish and Build Credit

CHFA sponsored the Rent Reporting Program across CHFA‑supported properties, partnering with financial technology company Esusu to report on‑time rent payments to credit bureaus and help tenants build credit. The program builds on the success of a pilot program authorized by the Colorado General Assembly and administered by CHFA from 2021 to 2024.

Closing Deals to Open Doors

To better serve affordable rental housing developers, CHFA launched the Closing Deals to Open Doors initiative to streamline multifamily loan closing processes. These efficiencies and improvements are based on feedback from customers on how to continue to improve CHFA offerings. CHFA’s multifamily loan commitments totaled $160.6 million in 2025, the fourth highest annual total in CHFA’s history.

In 2025, CHFA supported 475 business and nonprofits through its business lending programs, impacting more than 2,800 jobs. Building on a track record of success, CHFA was allocated additional resources for further impact including $90 million in New Markets Tax Credits and $10 million to support the Cash Collateral Support (CCS) program.

Revitalizing Communities

The Colorado Growth and Revitalization Fund (CGR Fund), for which CHFA is the managing member, received an allocation of $90 million in New Markets Tax Credits from the U.S. Department of the Treasury to support community development and revitalization projects in Colorado. This marked the seventh consecutive year that the CGR Fund has been awarded NMTCs.

Supporting Colorado Businesses

CHFA received $10 million from the State Small Business Credit Initiative (SSBCI) to support the Cash Collateral Support (CCS) Program, which CHFA manages in partnership with the Office of Economic Development and International Trade (OEDIT). The program provides deposits to lenders, which serves as collateral for loans to businesses and nonprofits. Since 2012, the program has supported more than 440 Colorado businesses.

Investing in Affordable Single Family Homes

In 2025, CHFA was proud to introduce the Single Family Construction Loan and the CHFA Drive It Home – Construction Loan^sm. The programs provide loans with favorable terms to developers of affordable single family homes, responding to the need for more homeownership opportunities at affordable price points. Loans approved in 2025 will support the development of 340 affordable, for-sale homes.

CHFA invested $8 million in total giving in 2025, impacting 673 organizations in Colorado. This included responsive donations based on community need, and more than $4 million across corporate giving programs including Direct Effect Awards and sponsorships.

Responding to Community Need

CHFA made investments in direct response to community needs, including donations to organizations rehabilitating single family homes, sponsorship of KSUT Southern Ute Tribal Radio, an investment to support mobile home park preservation in the Roaring Fork Valley, a donation to the Yampa Valley Disaster Recovery Fund in response to wildfires in Northwest Colorado, and donations to 36 nonprofit organizations addressing hunger amidst economic challenges exacerbating food insecurity.

Building a New Storytelling Platform

CHFA published a total of 15 episodes of The Buildout in 2025, a narrative podcast that uplifts the stories of people and organizations tackling some of the state’s toughest affordable housing and community development challenges. Based on listenership data analyzed at the end of 2025, The Buildout was among the top 25 percent of podcasts overall.

Corporate Giving

Throughout the year, CHFA invested more than $4 million in mission-aligned Colorado nonprofits through grants and sponsorships including Direct Effect Awards, the David W. Herlinger Golf Tournament, and the annual Like It Forward social media campaign. CHFA’s Direct Effect Awards provided more than $2.5 million in grants to support 254 organizations – the highest number of organizations supported through the program in a single year.

Direct Effect Awards

Direct Effect Awards recognize Colorado nonprofit organizations whose missions align with CHFA’s, providing immediate funding of community-based needs. In 2025, CHFA provided more than $2.5 million in Direct Effect Awards to 254 organizations – the highest number of organizations supported through the program in a single year.

David W. Herlinger Golf Tournament

CHFA’s annual David W. Herlinger Golf Tournament raised $105,000 for Montbello Organizing Committee (MOC), a community organization based in Denver’s Montbello neighborhood dedicated to energizing and supporting Montbello stakeholders and resident leaders in their efforts to proactively and responsibly tackle the critical issues impacting their quality of life. MOC identifies and addresses many challenges the community faces, including lack of affordable housing.

Like It Forward

CHFA donated $30,000 to Food Bank of the Rockies following the Like It Forward social media fundraising campaign. Food Bank of the Rockies is a hunger relief organization working to ignite the power of community to nourish people facing food insecurity across Colorado.

CHFA’s theme for 2026 is Envision, reflecting CHFA’s efforts to amplify its mission in impact in new ways in the years ahead. This includes a five-year strategic plan called Vision 2030. By 2030, CHFA will work to:

• Catalyze $30 billion in statewide investment to advance community-identified housing and economic development needs.
• Improve the customer journey by embracing curiosity, building trust, and challenging the status quo.
• Mobilize a flexible $1 billion fund by leveraging the power of the private sector.
• Increase collective impact by building alignment within the housing and economic development systems.

Collectively, these efforts aim to address community-identified needs as we work toward the vision that everyone in Colorado will have the opportunity for housing stability and economic prosperity.