CHFA for First Time Home Buyers

The Colorado Housing and Finance Authority (CHFA) offers Colorado residents a variety of loan products to assist in home buying when traditional home loans don’t quite suit them.

CHFA Loans for First Time Home Buyers can be FHA or Conventional loan products that offers two separate assistance tracks. You can choose between either:

  • A 4% grant or 5% silent second mortgage which assists with your down payment, closing costs, and pre-paids/reserves.

Example: What that means is if you have a $300,000 loan amount, CHFA would provide $15,000 in assistance based on a 5% silent second mortgage.


  • Up to a 4% down payment assistance grant.

Example: Receive $12,000 on a $300,000 loan amount.

CHFA First Time Home Buyer assistance programs are great for those who do not have the traditional 20% down payment and would like a 30 year, fixed interest mortgage.

Qualifications for CHFA First Time Home Buyers:

  • Minimum credit score of 620

  • Must be a First Time Homebuyer which is defined as not owning any real estate in the last three years.

  • Must contribute a minimum of $1,000 toward the purchase of the home.

  • Must meet income requirements as listed here.

  • Loan amount must be within CHFA limits as defined here.

To learn more about CHFA programs for First Time Buyers contact Brett Popish of Popish Mortgage Group. Popish Mortgage Group has been helping people achieve their goals and dreams of homeownership throughout Denver for over 15 years.

For those of you that are NOT First Time Home Buyers, don’t worry! CHFA also has loan options available for those that are selling but do not have the necessary funds for a down payment on their replacement home. Call today for more information!

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