​​ CHFA eNews: Home Finance
chfa enews - home finance 
January 16, 2015​​

don’t forget – chfa’s down payment will soon switch from a silent sec​​​ond 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:
  • 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.
These grants will be available under the following programs:
  • CHFA Preferred Plussm 
  • CHFA SmartStep Plussm
  • CHFA HomeOpener Plussm
  • CHFA SectionEightsm Homeownership Plus
For more information on the operational details of the new grants, please consult the December 19, 2014, eNews publication.

Thank you, as always, for your partnership, and for helping us make homeownership even more affordable in 2015.

chfa 

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