Colorado only · License-verified agents · Free for buyers and sellers
Tools · Buyer
The Colorado Housing & Finance Authority runs the most useful first-time buyer programs in the state — and most national mortgage calculators don't mention them. Tell us your situation, we'll tell you which CHFA loans and down payment assistance you likely qualify for.
Programs you likely qualify for
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CHFA verifies eligibility through approved lenders — these are preliminary matches, not approvals.
30-year FHA loan with as little as 3.5% down. Designed for first-time buyers and buyers in CHFA-targeted census tracts. Pairs with CHFA down-payment assistance.
Income, FTB status, and credit floor all clear.
Conventional 30-year loan with 3% down. Lower mortgage insurance costs than FHA. Good fit if you have stronger credit and a smaller down payment.
Strong fit if you want a conventional loan.
Same favorable terms as FirstStep but without the first-time buyer requirement. Good for buyers who've owned in the last 3 years.
FirstStep is a stronger fit for first-time buyers — try that.
Up to 3% of the loan amount as a true grant — never repaid. Layered on top of any CHFA loan. Best for buyers who'd otherwise drain savings.
True grant — no repayment, no lien.
Up to 4% of the loan amount as a silent second mortgage at 0% interest. Repaid when you sell, refinance, or pay off the first mortgage.
0% silent second — no monthly payment.
Estimate only. CHFA income limits vary by county and family size, and update annually. Confirm with a CHFA-participating lender — find one through chfainfo.com.
The landscape
CHFA
CHFA (Colorado Housing & Finance Authority) is a quasi-governmental lender that buys first-time buyer loans from approved retail lenders. You don't apply with CHFA directly — you apply with a CHFA-participating bank or credit union, which originates the loan and then sells it to CHFA. The benefit: CHFA's pricing, lower mortgage insurance, and pairable down payment assistance.
DPA
CHFA offers two flavors. The grant is a true gift — up to 3% of your loan amount, never repaid, but with tighter income limits. The silent second mortgage is up to 4% at 0% interest with no monthly payment, repaid only when you sell, refinance, or pay off the first mortgage. Most buyers stack one of these on top of a CHFA FirstStep or Preferred loan.
Targeted areas
CHFA designates lower-income census tracts (mostly outside the Front Range core, plus parts of Pueblo, Greeley, Grand Junction) as 'targeted areas.' Buying there raises the income cap and waives the first-time buyer requirement — which means a buyer who's owned before can still use CHFA programs in those locations.
Ready to take the next step?
Not every agent has done a CHFA close — the paperwork is fussier and the timelines run a few days longer. We'll match you with one who has.