Down Payment and/or Closing Cost Assistance Options
Homebuyers using one of our first mortgage loan programs to finance their home purchase are eligible to use CHFA assistance options to help with down payment and/or closing costs. Even if you contribute towards a down payment, you may still use one of the options below.
Down Payment Assistance Grant*
- Up to the lesser of $25,000 or 3 percent of your first mortgage**
(Example: Get up to $6,000 on a $200,000 mortgage)
- No repayment required
Second Mortgage Loan*
- Up to the lesser of $25,000 or 4 percent of your first mortgage**
(Example: Get up to $8,000 on a $200,000 mortgage)
- Repayment of loan balance deferred until certain events, such as payoff of your first mortgage, or the sale or refinance of the home, or the home is no longer your primary residence.
How to get a CHFA LoanClick here to learn more about program requirements and next steps.
* Higher interest rates apply
**For a 30-year, fixed-rate loan