CHFA Down Payment Assistance Switches to a 3% Grant

If you’re a first-time homebuyer and are looking for down payment assistance in Fort Collins, Loveland, or the rest of Larimer County, this news could be of significant interest to you. If you can qualify for assistance through a CHFA qualified lender, you will soon be able to take advantage of a grant of up to 3% of the purchase price of your home.

untitled

 

Check out the information below to learn more:

——–
Don’t forget – chfa’s down payment will soon switch from a silent second 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.