What is a chafa loan?

CHFA provides below-market interest rate mortgages specifically designed for first-time homebuyers or those who haven't owned a home in the past 3 years.

The Connecticut CHFA is a leader in financing affordable multifamily rental housing, in addition to their homebuyer mortgage programs.

The Colorado CHFA recently launched a new home loan and down payment assistance program to help first-generation homebuyers in the state.

CHFA mortgage loan programs allow eligible homebuyers to utilize down payment assistance options to cover the down payment and closing costs required to purchase their first home.

CHFA's Time to Own Forgivable Down Payment Assistance program offers a minimum loan of $3,000 to help first-time homebuyers with their down payment.

Connecticut has been awarded approximately $123 million from the U.S.

Department of the Treasury's Homeowner Assistance Fund (HAF) program, which is being administered by the Connecticut CHFA.

CHFA's Downpayment Assistance Program (DAP) Loan provides eligible homebuyers with additional assistance to help cover the down payment and closing costs for their home purchase.

CHFA recognizes that saving for a down payment is a major barrier to homeownership, especially for first-time buyers, and they aim to address this through their various assistance programs.

CHFA mortgage loans are fixed-rate, providing stability and predictability for homebuyers compared to adjustable-rate mortgages.

The Colorado CHFA was created in 1973 by the Colorado General Assembly to address the shortage of affordable housing in the state.

In 1982, when the Colorado economy was experiencing difficulties, the CHFA began making loans to businesses, in addition to their residential lending programs.

CHFA's mission is to strengthen Connecticut and Colorado by investing in affordable housing and community development, making them an important partner for first-time and low-to-moderate income homebuyers.