chfa FirstStep

​This program offers you a great opportunity to achieve affordable homeownership with CHFA. In addition, you may make your upfront costs more affordable by pairing it with CHFA’s optional second mortgage loan for down payment assistance.  

how it works 

The CHFA FirstStepsm program:
  • may be used by first-time homebuyers*, non-first-time homebuyers purchasing in targeted areas, or qualified  veterans;
  • offers fixed interest rates and a 30-year term; and
  • can be paired with an optional zero-percent second mortgage loan for down payment, closing costs, and/or prepaids assistance (higher interest rates apply).

how you qualify**

To qualify for either program: 
  • borrower income and total loan amount must be within limits;
  • you must complete a CHFA homebuyer education class (online or in-person) prior to loan closing;
  • you must contribute a minimum of $1,000 toward the purchase of the home; and
  • you must have a credit score of 620 for borrowers with credit scores (borrowers with no credit score are permitted).

*   A first-time homebuyer is defined by CHFA as one who has not had an ownership interest in a primary residence for the three years prior to the mortgage loan closing.

** In addition to qualifying for the CHFA program guidelines, you must also qualify according to the first mortgage underwriting guidelines as determined by your CHFA Participating Lender.

down payment assistance​

CHFA FirstStep Plu​​ssm has the same features as the CHFA FirstStep program and offers a ​CHFA zero-percent second mortgage loan to help with down payment and/or closing costs.

Find a CHFA Participating Lender


Contact a CHFA Partic​ipating Lender ​to get started on your road​ home.