CHFA SectionEight Homeownership: turning a housing voucher into a mortgage

Fact sheet

How SectionEight Homeownership works

This CHFA program is built for families who already hold a Section 8 Housing Choice Voucher and want to use it toward ownership. The first mortgage must be FHA or USDA-RD. With the Plus option you choose between two kinds of help: a grant of up to the lesser of $25,000 or 3% of the first mortgage that never has to be repaid, or a 0% deferred second of up to the lesser of $25,000 or 4% that is repaid later. The grant is smaller but permanent; the second is larger but owed back when the home is sold or refinanced.

Who qualifies?

Borrowers must be voucher participants converting to homeownership, and they must be first-time buyers or qualified veterans. Income is capped at $178,920 statewide. There is no purchase price limit; the loan itself is capped at the lower of $832,750 or the FHA or USDA limit. Only loan officers certified for CHFA's HomeAccess and SectionEight programs can originate it, which narrows the lender list. The matrix took effect August 3, 2026.

Using it alongside other Colorado programs

Because it is a separate CHFA first mortgage, you cannot also use Schools To Home or Colorado Champions on the same purchase. A school employee or first responder who holds a voucher should compare the options with a lender: Schools To Home can lend far more, while SectionEight Homeownership offers the grant choice. Whether a local fund such as Broomfield's CHAC loan can be added is a question for a participating lender.

As a worked illustration, on a $300,000 first mortgage the grant option would be 3%, or $9,000, and the second-mortgage option 4%, or $12,000. The $3,000 difference is the price of keeping the help permanent. Families who expect to stay in the home for many years and want no balance hanging over a future sale often lean toward the grant; families who need every dollar at closing often take the larger second. Your loan officer can show both on the same Loan Estimate.

Steps to apply

1. Talk with your housing authority about converting your voucher to homeownership.
2. Find a CHFA participating lender with a SectionEight-certified loan officer.
3. Complete homebuyer education and get pre-approved on an FHA or USDA-RD loan.
4. Choose the grant or the second mortgage before your loan is locked.

Read our grant vs. repayable assistance guide before choosing, see county details such as Adams County, and check eligibility for the other programs too.

Questions about CHFA SectionEight Homeownership / SectionEight Homeownership Plus

Similar programs

• CHFA HomeAccess / HomeAccess Plus
• CHFA Preferred Very Low Income (VLIP)
• Colorado HFA1 / Colorado HFA1 Plus
• Colorado Roots Down Payment Assistance Fund
• Dearfield Fund Purchase Program
• CHAC Statewide Program - 5-Year Deferral

Summarized from the program's official page, November 2026. Money and rules shift; check today's terms with the administrator or a participating lender. Colorado Down Payment Assistance has no tie to this program.