- July 21, 2026
chfa launches new homeownership program for public school employees
(DENVER) – Colorado Housing and Finance Authority (CHFA) has launched the CHFA Schools To Homesm program. Established through bipartisan legislation passed during the 2025 state legislative session, the program is designed to help public school employees achieve homeownership and live in the communities where they work.
A recent report published by Keystone Policy Center indicates that in some Colorado school districts, the majority of teachers spend over 40 percent of their income on housing. The report also indicates that housing availability and affordability plays a significant role in educators’ career decisions. The CHFA Schools To Home program combines a fixed-rate first mortgage loan with down payment and closing cost assistance available through a deferred second mortgage loan up to 25 percent of the first mortgage loan under a shared appreciation model. The program is funded through an investment from Colorado’s Public School Permanent Fund (PSPF).
“Colorado’s public school employees play an essential role in communities across our state, yet many struggle to afford a home near the schools where they work,” said Thomas Bryan, executive director and CEO of CHFA. “The CHFA Schools To Home program represents an innovative approach to expanding homeownership opportunities while supporting employee recruitment and retention as educators and school staff are given the opportunity to build long-term stability through homeownership.”
The legislation was established by Colorado Senate Bill 25-167, sponsored by Senators Judy Amabile and Lisa Frizell and Representatives Shannon Bird and Meghan Lukens. The bill authorized CHFA to establish and manage a shared appreciation down payment assistance program for public school employees. The assistance is repaid upon the occurrence of certain events such as sale, refinance, payoff of the first mortgage, or if the home is no longer the borrower’s primary residence.
“Teachers and staff at Colorado’s public schools are deeply committed to the communities they serve and want the opportunity to put down roots there,” said Dan McMahon, CHFA director of home finance. “This program is designed to assist homebuyers with the upfront cost of purchasing a home, which is often the most significant barrier to achieving homeownership.”
The program’s shared appreciation structure is intended to create a sustainable source of funding for future borrowers. When a home is sold, refinanced, or otherwise triggers repayment of the assistance, a portion of any appreciation is shared with and invested back into the PSPF.
“Strong schools depend on their ability to attract and retain talented educators and school employees,” said Senator Judy Amabile. “In too many communities, housing costs have made that increasingly difficult. This program creates a practical pathway to homeownership that helps public school employees live closer to where they work and strengthens the communities they serve.”
“SB25-167 demonstrates what can happen when people come together to find creative solutions to real challenges,” added Senator Lisa Frizell. “By responsibly investing resources that support both public school employees and the long-term interests of the Public School Permanent Fund, this program provides a meaningful opportunity for families while delivering lasting benefits to Colorado communities.”
“In many rural and mountain communities, educators and school staff are being priced out of the places where they teach,” explained Representative Meghan Lukens. “As a teacher, I have seen firsthand how housing affordability impacts schools and students. This program helps create opportunities for public school employees to build stability, remain in their communities, and continue serving Colorado students for years to come.”
Eligible borrowers may begin the process by contacting a CHFA Participating Lender. Additional program information and Participating Lender resources are available at CHFA’s Schools To Homesm webpage.