What is CHFA? It stands for the Colorado Housing and Finance Authority and is based in Denver, Co. CHFA makes loans possible for low to moderate income homebuyers with lower credit scores.
CHFA's newest programs are called the HomeOpener and HomeOpener Plus loan programs. These programs are available to both first time homebuyers and those buyers that have purchased one home already. Homebuyers must attend the homebuyer education course offered through the Authority. The 30 year, fixed rate loans offer down payment assistance and closing cost assistance through CHFA. For a homebuyer to qualify, their credit score must be a minimum of 580 and a maximum debt to income ratio (DTI) of 45%.
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