Schools To Home funds are limited. Colorado Champions for first responders is open, and CHFA says its funds are not limited.Run the eligibility check →
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Colorado Housing and Finance Authority (CHFA)

Colorado HFA1 and HFA1 Plus: one CHFA program, five loan types

Colorado HFA1 lets almost any qualifying buyer pick FHA, VA, USDA-RD, Fannie Mae or Freddie Mac financing and add a 0% silent second of up to the lesser of $25,000 or 4%.

Fact sheet

Colorado HFA1 / Colorado HFA1 Plus

Open

Colorado Housing and Finance Authority (CHFA)

Buyers
Any qualifying buyer (FHA, VA, USDA-RD, Fannie Mae or Freddie Mac first mortgage)
Amount
Optional 0% silent second up to lesser of $25,000 or 4% of first mortgage
Form
Deferred loan, repaid later
Income cap
$178,920 statewide
Price cap
None; max loan lower of $832,750 or agency limit
First-time only
No
Pairs with CHFA Schools To Home
no - separate CHFA first-mortgage program

Matrix effective Aug 3, 2026; permanent buydown allowed on government loans.

Checked November 2026 · method

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How HFA1 works

HFA1 is CHFA's broad first-mortgage program. Instead of tying you to one loan type, it accepts all five major ones, so your lender can match the loan to your credit, down payment and military status. The Plus version adds a second mortgage with no interest and no monthly payments, sized at up to 4% of the first mortgage and never more than $25,000. On government loans (FHA, VA, USDA-RD), HFA1 also allows a permanent rate buydown, which some buyers fund with seller credits.

Who can use HFA1?

Any buyer who meets the loan-type rules and CHFA's income cap of $178,920 statewide. You do not need to be a first-time buyer, which makes HFA1 useful for move-up or returning buyers who are shut out of bond-funded programs. There is no purchase price cap; total loan size is limited to the lower of $832,750 or the agency limit. The matrix took effect August 3, 2026.

Does HFA1 combine with Schools To Home or Champions?

No. HFA1, Schools To Home and Colorado Champions are each separate CHFA first mortgages, and you use one per purchase. Teachers and other school staff usually compare HFA1's smaller second (no appreciation sharing) with Schools To Home's larger one (with appreciation sharing). Responders get the same 4% cap through Champions but with a higher income limit. Whether a city or nonprofit fund can sit behind HFA1 is a question a participating lender confirms case by case.

Consider a $350,000 first mortgage: 4% would be $14,000, comfortably under the $25,000 cap. The cap only starts to bind on loans above $625,000. Because the second is optional, some buyers with enough savings skip it to get a simpler loan, while others use it to cover closing costs and keep cash in reserve. A lender can quote HFA1 with and without the second so you can see what the assistance costs in rate.

Getting started

Ask a CHFA participating lender to quote HFA1 alongside the program built for your job. Bring your last two years of income records and plan for homebuyer education. Our loan-type comparison explains the five options, the Arapahoe County guide shows local context, and you can check eligibility in two minutes.

Questions about Colorado HFA1 / Colorado HFA1 Plus

Which loans work with HFA1?

FHA, VA, USDA-RD, Fannie Mae and Freddie Mac first mortgages.

Is HFA1 only for first-time buyers?

No. Any buyer under the $178,920 income cap who qualifies for the loan type can use it.

Can I buy down my rate with HFA1?

A permanent buydown is allowed on government loans (FHA, VA, USDA-RD).

Similar programs

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.

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A lender who offers Colorado programs can compare both against your file. No credit check.

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