Yes, it's true! You can get a grant to help you to buy a home in Colorado!
The Colorado Housing and Finance Authority, or CHFA, was created in 1973 by the Colorado General Assembly. CHFA’s mission is to increase affordable housing and economic development in Colorado. Effective February 2, 2015, CHFA will be offering their popular down payment program as a grant instead of a loan! The grant will be:
- In the amount of 3% of the first mortgage loan!
- Can be used for down payment, closing costs, and/or pre-paids.
- Have a middle credit score of 620 or higher
- Meet income and purchase price limits.
- Complete a CHFA-approved homebuyer education class prior to loan closing
- Contribute a minimum of $1,000 toward the