Eligibility

CHFA loan requirements in Colorado

CHFA programs are accessible, but they do come with a clear set of requirements. None of them are mysterious once they are laid out, and most buyers who fit the income picture can meet them. Here is the checklist of what it generally takes to qualify, and how we help you confirm each piece.

Check if you qualify CHFA loans explained

The checklist

What it takes to qualify

Income within the county limit

Your household income has to fall under the CHFA limit for your county and household size. This is the big one. See the income limits page.

Purchase price within the limit

The home price has to be under the program maximum, and the home must be your primary residence, not an investment property.

A qualifying credit profile

You need a credit score and history that qualify for the first mortgage the program pairs with. The exact bar depends on the program and loan type rather than a single universal number.

Homebuyer education and a small contribution

CHFA requires completing an approved homebuyer education course, and there is typically a small minimum contribution from your own funds.

One requirement explained

Homebuyer education, what it actually involves

The homebuyer education requirement trips people up because it sounds like a hurdle, but it is genuinely one of the more useful parts of the process. It is an approved course that walks you through budgeting, the loan process, and what to expect as an owner. It can usually be done online or in person, and it is especially valuable for first-time buyers. We point you to an approved course and fit it into the timeline so it never becomes the thing that holds up your closing.

Where we come in

How to confirm you meet them

The fastest way to know if you qualify is to walk the checklist with someone who works with these programs. Tell us your household income, where you want to buy, and a rough sense of your credit, and we will check it against the current county limits and program rules and tell you honestly where you stand. If something is short, we will tell you what would close the gap. Ask us to check your eligibility, or work with a local CHFA lender in Colorado Springs.

Common questions

Answered straight

What are the requirements for a CHFA loan?+

Generally: household income under the county limit, a purchase price under the program limit, the home as your primary residence, a qualifying credit profile, completion of homebuyer education, and a small minimum contribution. The specifics are set by CHFA and can change.

Is homebuyer education required for CHFA?+

Yes. CHFA requires completing an approved homebuyer education course. It can usually be done online or in person, and it is genuinely useful, especially for first-time buyers.

What credit score do I need for a CHFA loan?+

There is no single universal number; the bar depends on the program and the first mortgage type it pairs with, like FHA or conventional. We look at your credit and tell you whether it qualifies.

Does the home have to be my primary residence?+

Yes. CHFA programs are for a primary residence you live in, not an investment or vacation property.

Do I need to put in any of my own money?+

Usually yes. CHFA programs generally require a small minimum borrower contribution, even when assistance covers much of the down payment.

Keep exploring

Let us walk the checklist together.

Tell us your income, location, and rough credit and we will check your CHFA eligibility against the current rules, with no pressure and no application required to ask.

See what you qualify for

A few details and we will reach out, no application needed to ask.