Top 3 CHFA Down Payment Assistance Programs

Описание: CHFA or Colorado Housing & Finance Authority, is one of the best down payment assistance programs for both first time home buyers and non-first time home buyers in Colorado.

The Top 3 down payment assistance programs CHFA offers are:
CHFA FirstStep
CHFA SmartStep
CHFA Preferred

CHFA FirstStep
Only available to first time home buyers
FHA 30 Year Fixed First Mortgage
Optional Second Mortgage for Down Payment Assistance for 4% of first mortgage amount
Income Limits: $100,000 for 2 or less in household and $115,000 for 3 or more
Loan Limits are lesser of $510,400 or FHA county loan limits

CHFA SmartStep
NOT restricted to first time home buyers
FHA, VA or USDA 30 Year Fixed First Mortgage
Optional Second Mortgage or Grant for Down Payment Assistance
Second Mortgage equal to 4% of first mortgage amount
Grant equal to 3% of first mortgage amount - NEVER HAS To BE REPAID
Income Limits vary by county but Denver Metro is $126,200
Loan Limits are lesser of $510,400 or FHA county loan limits

CHFA Preferred
NOT restricted to first time home buyers
97% LTV Conventional 30 Year Fixed First Mortgage
Optional Second Mortgage for Down Payment Assistance for 4% of first mortgage amount
Income Limits vary by county but Denver Metro is $80,000
Loan Limit: $510,400

Helpful Links & Related Videos:
What is LTV:    • What is Loan to Value? (LTV) And Why You S...  
5½ Reasons FHA is Better than Conventional:    • 5½ Reasons FHA is Better than Conventional  
FHA Upfront Mortgage Insurance Premium (UFMIP):    • FHA Upfront Mortgage Insurance Premium (UF...  
FHA vs Conventional 2020:    • FHA vs Conventional Home Loans for 2020  
CHFA Purchase Price Limits: https://www.chfainfo.com/participatin...
CHFA Income Limits: https://www.chfainfo.com/participatin...
CHFA Comparison: https://www.chfainfo.com/participatin...

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Scott Wynn
Wynn & Eagan Team at Citywide Home Loans
Mortgage Advisor
(720) 608-5533
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