CHFA Rates & Programs 2026: Colorado Down Payment Assistance Up to $25,000
Colorado's median home price exceeds $560,000 — making CHFA programs essential for first-time buyers. The CHFA FirstStep mortgage offers 30-year fixed rates from 5.99% plus the SecondStep DPA loan up to $25,000 at 0% interest. Works statewide including Denver, Colorado Springs, Fort Collins, and mountain counties. Here's the complete June 2026 guide.
Check Your CHFA Eligibility — Free
See if you qualify for 5.99% rates + up to $25K DPA. Takes 2 minutes, no credit pull.
5.99%
CHFA Rate (June 2026)
FHA 30-yr fixed
$25,000
Max SecondStep DPA
0% deferred loan
620
Min Credit Score
all CHFA programs
$1.15M
Mountain County Limit
Summit/Eagle purchase price
Denver metro median price: $560K+. CHFA SecondStep's $25,000 DPA covers nearly all closing costs on a typical Colorado home. Check eligibility in 2 minutes — no credit pull.
Check My DPA Options →CHFA Programs 2026 — Full Comparison
| Program | Rate (est.) | DPA Available | Min Credit | Loan Type |
|---|---|---|---|---|
| 🏆 BEST FOR FHACHFA FirstStep | 5.99% | Up to $25,000 (SecondStep) | 620 | FHA 30-yr fixed |
| ⭐ CONVENTIONALCHFA Preferred | 6.10% | Up to $25,000 (SecondStep) | 620 | Conv 3% down |
| 💰 DPA LOANCHFA SecondStep DPA | N/A (2nd loan) | Up to $25,000 or 4% | 620 | 0% deferred loan |
| 🎖️ VA / USDACHFA SmartStep | 5.99% | Optional | 620 | VA/USDA eligible |
| 🏠 VOUCHER BUYERSCHFA SectionEight (HCV) | 5.99% | Special program | 620 | Housing voucher holders |
Rates as of June 2026. Vary by lender and credit profile. Verify at chfainfo.com or with a CHFA-approved lender.
All programs pair with FHA, VA, USDA, or conventional loans. Compare CHFA-approved lenders — rates differ significantly between lenders.
CHFA SecondStep DPA — How It Works
SecondStep provides up to $25,000 or 4% of the purchase price (whichever is greater) as a deferred 0% interest second mortgage. Key details:
0% Interest — Always
No interest accrues. You repay only the principal amount borrowed, whenever you sell, refi, or pay off your first mortgage.
Fully Deferred
No monthly payments on the SecondStep loan. Zero cash flow impact while you own the home.
Down Payment + Closing Costs
Use SecondStep for your down payment, closing costs, or both. Flexible deployment gives you maximum flexibility at closing.
Must Use CHFA First Mortgage
SecondStep requires a CHFA FirstStep, Preferred, or SmartStep first mortgage. Cannot be used with non-CHFA lenders.
Example: $450K Denver Home with CHFA + SecondStep
$450,000
Purchase Price
$15,750
FHA Down (3.5%)
$18,000 (4%)
SecondStep DPA
$0 (covered!)
Out-of-Pocket Down
CHFA Income Limits 2026 by County
CHFA income limits reflect Colorado's varied housing markets — mountain resort counties have significantly higher limits than eastern plains counties.
| County / Metro | 1-2 Person Limit | 3+ Person Limit | Max Purchase Price |
|---|---|---|---|
| Denver | $109,000 | $125,350 | $766,550 |
| Boulder | $131,400 | $151,110 | $856,750 |
| Jefferson | $109,000 | $125,350 | $766,550 |
| Arapahoe | $109,000 | $125,350 | $766,550 |
| Adams | $109,000 | $125,350 | $766,550 |
| Douglas | $109,000 | $125,350 | $766,550 |
| El Paso (Colorado Springs) | $96,500 | $110,975 | $766,550 |
| Larimer (Fort Collins) | $109,200 | $125,580 | $766,550 |
| Weld (Greeley) | $96,500 | $110,975 | $766,550 |
| Summit / Eagle (mountain) | $131,400 | $151,110 | $1,149,825 |
Source: CHFA 2026 guidelines. Verify at chfainfo.com or with a CHFA-approved lender.
Income over limits? Compare conventional lenders with no income caps — or explore CHFA's Preferred Plus program for slightly higher limits. Credit below 620? Boost your score with Spike first.
Ready to buy in Colorado with CHFA?
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CHFA Eligibility Requirements & How to Apply
- ✓First-time homebuyer (no ownership in last 3 years) — veterans & Target Areas exempt
- ✓Minimum 620 credit score
- ✓Income at or below county limits
- ✓Purchase price within CHFA maximums
- ✓Complete free CHFA homebuyer education course at chfainfo.com
- ✓Primary residence only
- ✓DTI ratio generally under 45%
- 1
Complete free CHFA homebuyer education
Available free at chfainfo.com. Takes 4–6 hours online. Required for all DPA programs.
- 2
Find a CHFA-approved lender
Search at chfainfo.com/homeownership/find-a-lender or compare through our partner network. Rates vary between lenders.
- 3
Get CHFA pre-approval
Your lender verifies income, credit, and DPA eligibility. Takes 2–4 business days.
- 4
Find a Colorado home within limits
Most counties allow purchases up to $766,550. Mountain counties allow much higher purchase prices.
- 5
Close with SecondStep DPA funded
DPA funds at closing as a deferred 0% second mortgage. No monthly payment required.
Need FHA with lower credit? FHA loans from 580 FICO work alongside some CHFA programs.
CHFA Colorado FAQ 2026
What is CHFA?
CHFA stands for Colorado Housing and Finance Authority. It is a self-supporting state agency that has been offering affordable housing programs since 1973. CHFA provides below-market mortgage rates, down payment assistance, and homebuyer education to low-to-moderate income Coloradans through a statewide network of approved lenders.
What are current CHFA rates in 2026?
As of June 2026, CHFA FirstStep (FHA) rates start at approximately 5.99% for a 30-year fixed loan — typically 0.30–0.50% below comparable market FHA rates. CHFA Preferred (conventional) rates start around 6.10%. Rates change weekly based on bond market conditions. Contact a CHFA-approved lender for today's exact rate.
What is CHFA SecondStep down payment assistance?
CHFA SecondStep is a deferred second mortgage of up to $25,000 (or 4% of the purchase price, whichever is greater) at 0% interest. The loan is deferred — no monthly payments — and repaid when you sell, refinance, or pay off your first mortgage. It can be used for down payment and closing costs.
Do I have to be a first-time buyer for CHFA?
Most CHFA programs require first-time buyer status (no primary home ownership in the past 3 years). However, buyers in federally designated Target Areas, veterans, and active military are exempt from the first-time buyer requirement for most CHFA programs.
What income limits apply for CHFA 2026?
CHFA income limits vary by county and household size. Denver and the metro area have limits around $109,000 for 1-2 person households. Mountain counties (Summit, Eagle) and Boulder have higher limits reflecting the higher cost of living, up to $131,400+. Income from all borrowers and co-borrowers is counted.
Can CHFA be used for mountain properties in Colorado?
Yes! CHFA programs work statewide in Colorado, including mountain counties like Summit (Breckenridge), Eagle (Vail), and Pitkin (Aspen). Mountain counties have higher income limits and higher maximum purchase prices — up to $1,149,825 in Summit County — reflecting the elevated home values in resort areas.
Is there a homebuyer education requirement for CHFA?
Yes. All CHFA first-time buyer programs require completion of a CHFA-approved homebuyer education course. CHFA offers free online homebuyer education at chfainfo.com. The course covers budgeting, understanding mortgages, and the homebuying process. It typically takes 4–6 hours to complete online.
Related State Housing Program Guides
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