CFHA Loans

First-time homebuyers, are you looking for money to help with a down payment or closing costs? Even if you're not buying for the first time or you're looking to refinance, the Colorado Housing and Financing Authority (CHFA) offers incredibly flexible loan programs to any Coloradan — many with competitive fixed rate financing.

A CHFA Mortgage may be for you if you have

  • Limited income that falls within CHFA guidelines for your household size
  • Not enough savings to make a down payment or to cover closing costs
  • A mid-credit score minimum of 620
  • Maximum debt-to-income (DTI) of 50% (may be 55% if credit score is 660+)


  • Down payment assistance
  • Affordable rates
  • 30-year fixed rate mortgages
  • Support with closing costs
  • No/low mortgage insurance
  • Free homebuyer education/money management classes*

Different CHFA loan programs

There are a variety of programs within the CHFA loan. Speak with one of our CHFA mortgage consultants to check the most current eligibility requirements for each program to determine which one is the best fit for you.


CHFA Advantage℠

CHFA Preferred​℠

CHFA Advantage℠ Refinance ​

CHFA Preferred​℠ ​Refinance​


CHFA FirstStep℠

CHFA SmartStep℠

CHFA HomeOpener℠

CHFA HomeAccess℠

CHFA Secti​onEight℠ Homeownership​

CHFA FHA Streamline Refinance


CHFA can help Coloradans with down payment assistance, helping them get into a house for as little as $1,000 down.

Some borrowers may even be able to avoid mortgage insurance. Access to CHFA advantages is dependent on household income (which is determined at the county level and by size of household).

Not to mention, there are also down payment assistance grants and zero-percent second mortgage loans (which help to cover down payment requirements and closing costs).

It's important to understand that CHFA is the loan servicer. That means they take over the loan after you complete the mortgage process with a participating CHFA lender, like American Financing.

As an approved and top producing CHFA lender, American Financing has mortgage consultants ready to pre-qualify you and walk you through options. Get started today. Make the call to (866) 889-7024, or complete the online application to work with an experienced CHFA lender.

* The homebuyer education class is required and must be completed before closing. It can be completed online or in person. The curriculum includes: discussion of key players and their roles in the home buying process, successful money management tips, taxes and insurance, consumer laws, steps in the mortgage process, how to protect your investment, and discussion of the true cost of homeownership — among many other topics.