(see eligibility/underwriting requirements for additional information; most CHAC loan programs vary depending upon location  of property being purchased  –  legal description determines)

Denver (City and County), Jefferson County

  • City and Couty of Denver – Loan Amount: 1/2 of the downpayment plus allowable closing costs but not to exceed 5% of the purchase price, up to $15,000 (whichever is less) (Denver IHO (Inclusionary Housing Ordinance) properties  5% of the purchase price and different amounts and terms)
  • Jefferson County – Loan Amount: 6% of the purchase price, up to $20,000 (whichever is less)    
  • Loan Terms: 2 options
    1. Payments start immediately: 2% rate 30 year amortization
    2. Five (5) year deferral: 60 months no payment 0% interest.Payments starting the  61st month, 6 % rate, 25 year amortization
  • APR: Range 2% – 7.25% depending on loan amount and repayment terms
  • Fees: May include $5 monthly service fee, $100-$150 doc prep fee, $200 commitment fee, $16-$57 recording fees
  • Westminster is excluded from the Jefferson County Program. (See statewide program)   

CHAC Statewide Program   –  NEW Loan Amounts and Income limits  –  all areas of the State  

1     2     3       4          5          6          7
 94,400     107,850     121,300     134,800     143,600     156,400   167,200 178,000

       If not in Denver-Metro AND using FHA, call for local limits: 303-572-9445 x113

  • Loan Amount 6% of lesser of sales price or appraised value up to $25,000  (Which ever is less)
  • Rate – 3%    Amortized over 30 Years (360 months)
  • Loans less than $5,100 – $50 monthly payment
  • Minimum Loan Amount $3,000
  • Fees: May include $5 monthly service fee, $100-$150 doc prep fee,                                                 $200 commitment fee, $16-$21 recording fees

Option: Deferred 5 years (not available for loans less than $5,100)

       1      2      3       4          5       6          7       8
    62,600   71,550   80,500    89,400    96,600    103,750     110,900   118,050
  • Loan Amount $5,100 – $25,000   Amortized over 30 years
  • First 5 years 0%   no payments
  • years 6 – 30   5%    amortized over 25 years
  • Minimum Loan Amount $3,000
  • Fees: May include $5 monthly service fee, $100-$150 doc prep fee,                                                 $200 commitment fee, $16-$21 recording fees

Disability Program: Persons with permanent disabilities or have a child with a permanent disability.          (Social Security definition of permanent disability)

  • ALL AREAS of the STATE of COLORADO (Income limits vary by County)
  • Loan Amount maximum of $10,000
  • Interest rate 1.5%, APR 5% Term 30 years
  • Payments are deferred for 30 years, interest will accrue
  • Fees: May include $250 commitment fee, $100 doc prep fee, $16-$21 recording fees

Please remember for ALL programs:

  • Income eligibility includes ALL sources of income for ALL members of the household
  • Non-resident co-borrowers or co-signers are not permitted
  • CHAC cannot provide assistance if property has been Tenant Occupied anytime within 90 days prior to closing.
  • Sales price must be less than or equal to Appraised Value
  • Sales price limit may apply
  • Borrowers must attend a First time homebuyer class (CHFA approved including EHOME and or Framework)
  • Borrowers must participate in Borrower Counseling Session prior to closing. This is SEPARATE and DIFFERENT from the First Time Homebuyer class and provided only by CHAC—after loan commitment, prior to closing. Denver metro buyers attend class at CHAC office. Class by phone for non metro buyers.
  • Home Inspections Required: All Health and Safety issues must be resolved, Smoke and Carbon Monoxide detectors must be properly installed and working.
  • Properties built prior to 1978 REQUIRE a visual Lead Based Paint Inspection. Property must be certified to be “lead safe” as opposed to “lead free”.
  • Fees vary by program and funding source and will be included in the CHAC loan amount or built into the monthly payment, ($5 service fee)

Other requirements may pertain and will be provided when the Conditional Commitment is issued

 (Last updated 05/1/2022)