The Colorado Housing and Finance Authority (CHFA) offers mortgage programs that pair competitive interest rates with down payment assistance — making homeownership more accessible for first-time buyers and income-qualified repeat buyers across Colorado.
Tayton Capital is a CHFA-approved lender. We originate CHFA first mortgage loans and layer all available assistance programs to minimize your out-of-pocket costs.
What is a CHFA loan?
CHFA loans are first mortgage products originated by approved lenders (like Tayton Capital) that pair below-market interest rates with down payment and closing cost assistance. CHFA sets the rate — it's typically slightly below current market rates for qualifying borrowers.
CHFA loans are available across all of Colorado and don't require you to be buying in a specific area.
CHFA first mortgage programs
CHFA SmartStep: Fixed-rate 30-year first mortgage. Available with FHA, VA, USDA, or conventional financing. Competitive rate set by CHFA.
CHFA HomeOpener: For borrowers who don't meet standard first-time buyer definitions. Income and purchase price limits apply.
CHFA Advantage: Conventional 97% (3% down) financing with reduced mortgage insurance. For buyers who qualify for conventional but want down payment assistance.
CHFA down payment assistance
CHFA Second Mortgage: Up to 4% of the first mortgage amount as a second mortgage. The second mortgage is at the same rate as the first, paid monthly over 30 years. No balloon payment.
CHFA Grant: 3% or 4% grant (non-repayable) available on select CHFA products. Income limits apply.
CHFA HomeAccess: Additional assistance for borrowers with disabilities or who have a dependent with a disability.
CHFA income and purchase price limits vary by county and household size. Current limits are published at chfainfo.com — verify before quoting.
CHFA eligibility requirements
- Colorado property (all counties)
- Owner-occupied primary residence
- Income at or below CHFA limits (vary by county and household size)
- Purchase price at or below CHFA limits (vary by county)
- Complete CHFA-approved homebuyer education course (online available)
- Minimum credit score: 620 for most programs
First-time buyer requirement: CHFA programs are primarily for buyers who have not owned a primary residence in the past 3 years. Some programs (HomeOpener) waive this requirement in Targeted Areas.
CHFA Colorado FAQs
How much down payment assistance does CHFA provide?
CHFA's Second Mortgage provides up to 4% of the first mortgage amount. On a $400,000 purchase with a 3% down FHA loan ($388,000 first mortgage), CHFA could provide up to $15,520 toward your down payment and closing costs.
Does the CHFA grant need to be repaid?
No — the CHFA grant is not repayable. The Second Mortgage does require monthly payments at the same rate as your first mortgage, but there's no balloon payment or required payoff date.
Can I use CHFA with a VA loan?
Yes — CHFA's SmartStep program is compatible with VA financing. For veterans with VA entitlement, this can combine 0% down with additional CHFA assistance to cover closing costs.
What's the income limit for CHFA in Denver?
CHFA income limits vary by county and household size and change annually. Current limits are published at chfainfo.com. Denver County limits are higher than rural Colorado counties.
How do I start the CHFA process?
Contact Tayton Capital. We'll assess your eligibility, explain which CHFA programs you qualify for, and issue a CHFA-compliant pre-approval.
Related: Down payment assistance Colorado | First-time homebuyer Colorado | FHA loans Colorado