Colorado Housing and Financing Authority (CHFA) is Colorado’s trusted partner for affordable and accountable homeownership. Through participating lenders like United states Financing, Coloradans get access to CHFA house refinance and purchase loans. These loans have actually competitive financing that is fixed-rate may offer advance payment or closing price help.
While first-time house purchasers are usually CHFA’s many customers that are frequent with 56% of their 2016 borrowers being Millennials, the agency additionally acts Gen X and multi-generational families trying to find their next house.
As with every true mortgage loan, borrowers can select where they wish to purchase. There are not any limits into the housing inventory that is specific. The agency states its normal loan is actually for $225,000 while noting that lots of borrowers have now been authorized for brand new or near-new $300,000 houses. CHFA-backed originations are found through the metro area with Aurora, Denver, Colorado Springs, Thornton, Commerce City and Greeley producing the volume that is most. Like most of the Denver area, these urban centers have actually significant new house construction.
First-time house purchasers Scott and Heather MacPherson bought their property with regards to their young, growing family members with the aid of a CHFA loan. “Rent can be so high priced, and we’d instead spend money on something which is our personal therefore we can build equity, ” Heather said.
Therefore is CHFA help for your needs? Below we’ve broken down the huge benefits, skills, and needs into three groups. Continue reading to see if there’s a fit: