CHFA Home Loans

Down Payment & Closing Cost Assistance for Colorado Homebuyers

Security First Financial is an approved participating lender with Colorado Housing and Financing Authority (CHFA) and is one of the top producing CHFA lenders in Colorado.

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​Through CHFA, we are able to offer a variety of great home loan programs with flexible rates, as well as down payment assistance (DPA)* programs that help homebuyers buy their homes without a lot of upfront money, sometimes with as little as $1,000 down! Below are CHFA's DPA options...

CHFA DPA Loan Programs**

CHFA Down Payment Assistance Grant:
 

• Up to 3% of your first mortgage loan amount

• No repayment required

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CHFA Down Payment Assistance Second Mortgage Loan:
 

• Up to 4% of your first mortgage loan amount

• Repayment deferred until certain events, such as payoff of first mortgage loan, sale or refinance of your home, or if the home is no longer owner-occupied
   

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We have the experience and expertise to guide you through your CHFA loan options and get you pre-qualified for a home loan​.

*First lien interest rates may be higher when using a DPA second.

**CHFA down payment assistance can only be used when paired with a first mortgage loan under a CHFA program. Higher interest rates apply.

CHFA Mortgage Programs are Available to First-Time and Non-First-Time Colorado Homebuyers

• 30-year, fixed-rate government FHA and Conventional mortgage loans to purchase or refinance a home
   

• Down payment assistance grants and second mortgage loans for down payment and/or closing cost assistance (purchase only)

CHFA Program Requirements:​

Borrowers must qualify according to our underwriting guidelines and meet these general requirements:

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• Have a mid-credit score of 620 or higher (based on program requirements)

• Total borrower(s) income must not exceed CHFA’s income limits

• All borrowers must attend a CHFA-approved homebuyer education class (purchase only)

• Make a minimum required investment of $1,000 toward the purchase of the home

Types of CHFA Loan Programs:​

Conventional:

• CHFA Preferred℠/CHFA Preferred Plus℠

• CHFA Preferred Very Low Income Program (VLIP)

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Government:

• CHFA FirstStep℠/CHFA FirstStep Plus℠

• CHFA SmartStep℠/CHFA SmartStep Plus℠

• CHFA HomeAccess℠

• CHFA Secti​onEight℠ Homeownership​