Can You Refinance a CHFA Loan?2020-11-16T17:26:20+00:00

As of March 2, 2020, CHFA no longer offers to refinance options for their loans. CHFA previously offered two refinance options in the FHA Streamline Refinance Program and Preferred Refinance Program but those are no longer options as CHFA pivots in its role for Colorado homeowners. Any homeowner who started the HomeConnection refinance options before March 2 will not be affected.

Is a homebuyer education course required?2020-03-08T20:53:06+00:00

Yes, all borrowers purchasing a home through a CHFA mortgage are required to take a buyer education course before closing on their loan.

What can I afford with CHFA?2020-03-08T20:52:48+00:00

Use CHFA’s mortgage calculator to help find out how much you can afford under different CHFA programs.

Is there a minimum credit score?2020-03-08T20:52:25+00:00

Yes, CHFA loans require a minimum credit score of 620 but there are exceptions for individuals with no credit score or history. CHFA loan credit score requirements can be higher than 620, depending on the program.

Are there income limits?2020-03-08T20:52:05+00:00

CHFA programs come with income limits dependent on the home size, county, and much more. You can browse the full income limits at CHFA’s income limit page.

What’s the best program for first-time homebuyers?2020-11-16T17:23:48+00:00

There are several different programs depending on your income and needs. You can contact a participating CHFA lender close to you to find out more about programs you qualify for.

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