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

Denver (City and County), Jefferson County

  • Loan Amount: 6% of the purchase price, up to $10,000 (whichever is less) City and County of Denver, City of Arvada
  • Loan Amount: 6% of the purchase price, up to $20,000 (whichever is less) Jefferson County, not the City of Arvada
  • Loan Terms: 2 options
  • Payments start immediately: 2% rate 30 year amortization
  • Five (5) year Deferral: Payment start 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)
  • IHO (Inclusionary Housing Ordinance) properties have different amounts and terms

CHAC Statewide Program- all other areas of the State

  • Loan Amount $5,000
  • Rate: 5% APR 7.75%
  • Loan Terms: 12.5 years (150 month amortization)
  • Payments; $50 (includes a $5 per month service fee)
  • Fees: May include $5 monthly service fee, $100-$150 doc prep fee, $200 commitment fee, $16-$21recording 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 $8,500
  • 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 members of the household
  • Non-resident co-borrowers are not allowed
  • CHAC cannot provide assistance if properties have been Tenant Occupied
  • Sales price must be equal to or less than Appraised Value
  • Borrowers must attend a SITE BASED First time homebuyer class prior to application. (Call for EHOME Exceptions)
  • Borrowers must participate in Borrower counseling 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
  • Home Inspections Required: All Health and Safety issues must be repaired, Smoke and Carbon Monoxide detectors must be properly installed and working.
  • Properties built prior to 1978 REQUIRE a visual Lead Based Paint Inspection.
  • 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 04/01/2014)