don’t forget – chfa’s down payment will soon switch from a silent second to a grant!
As previously announced, beginning with reservations made on or after February 2, CHFA is changing the way it offers down payment assistance (DPA).
Rather than providing assistance via a CHFA Second Mortgage, we will now offer the CHFA DPA Grant, making homeownership even more affordable for
Colorado borrowers while simplifying processes for our lender partners.
CHFA DPA Grants:
These grants will be available under the following programs:
- Will be non-repayable;
- Will be in an amount not to exceed 3 percent of the first mortgage loan;
- May be used toward down payment, closing costs, and/or prepaids; and
- Will not be secured by a lien.
For more information on the operational details of the new grants, please consult the December 19, 2014,
- CHFA Preferred Plussm
- CHFA SmartStep Plussm
- CHFA HomeOpener Plussm
- CHFA SectionEightsm Homeownership Plus
Thank you, as always, for your partnership, and for helping us make homeownership even more affordable in 2015.