Colorado Housing and Financing Authority (CHFA) is Colorado’s trusted partner for affordable and homeownership that is responsible. Through participating loan providers like United states Financing, Coloradans get access to CHFA house purchase and refinance loans. These loans have actually competitive fixed-rate funding and may offer advance payment or closing price support.
While first-time house purchasers are CHFA’s many regular clients, with 56% of its 2016 borrowers being Millennials, the agency additionally acts Gen X and multi-generational families trying to find their next house.
As with every home loan, borrowers can select where they would like to purchase. There are not any restrictions towards the certain housing stock. The agency states its loan that is average is $225,000 while noting that numerous borrowers have already been authorized for brand new or near-new $300,000 domiciles. CHFA-backed originations can be located throughout the metro area with Aurora, Denver, Colorado Springs, Thornton, Commerce City and Greeley creating the volume that is most. These cities have significant new home construction like a lot of the Denver area.
First-time home purchasers Scott and Heather MacPherson bought their house because of their young, growing family members by using a CHFA loan. “Rent is really so high priced, and we’d instead spend money on a thing that is our very own so we can build equity, ” Heather stated.
Therefore is CHFA help for you personally? Below we’ve broken down the advantages, qualifications, and demands into three groups. Keep reading to see if there’s a fit: