Attend a CHFA-approved home buyer education class.Total borrower(s) income must not exceed CHFA’s income limits.Have a mid-credit score of 620 or higher.To qualify for a CHFA loan, borrowers must meet the following requirements: The loan is deferred until certain events, such as the payoff of the first mortgage loan, the sale or refinance of the home, or if the home is no longer owner-occupied. Equal to the lesser of $25,000 or 4% of the total loan amount.CHFA Down Payment Assistance Second Mortgage Loan.Equal to the lesser of $25,000 or 3% of the total loan amount.CHFA offers a variety of loan programs for homebuyers, including down payment assistance grants and second mortgage loans. We would be happy to answer any questions you may have and help you find the program that is right for you.Ĭolorado Housing and Finance Authority (CHFA) is a state agency that provides affordable housing and community development solutions. ![]() If you are interested in learning more about DPA programs in Colorado, please contact us today. We offer a variety of DPA programs to help homebuyers make the dream of homeownership a reality. Security First Financial is one of the top-producing down payment assistance lenders in Colorado. MetroDPA Down Payment Assistance: This program offers loans of up to 5% of the purchase price of a home to qualified first-time and repeat homebuyers.Colorado Housing and Finance Authority (CHFA) Down Payment Assistance: This program provides qualified first-time homebuyers with grants equal to the lesser of $25,000 or 3% of the total loan amount and second mortgage loans equal to the lesser of $25,000 or 4% of the total loan amount. ![]() ![]() Some of the most popular programs include: There are multiple options for Colorado homebuyers when it comes to DPA programs. It is typically reserved for first-time homebuyers only, but repeat buyers may also qualify based on program requirements. Colorado Down Payment Assistance (DPA) Programsĭown payment assistance (DPA) in Colorado is available in the form of loans, grants, and other programs.
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