Colorado Housing and Financing Authority (CHFA) is Colorado’s trusted partner for affordable and accountable homeownership. Through participating loan providers like United states Financing, Coloradans get access to CHFA house purchase and refinance loans. These loans have actually competitive fixed-rate funding and may provide advance payment or closing expense support.
While first-time house purchasers are generally CHFA’s many customers that are frequent with 56% of its 2016 borrowers being Millennials, the agency additionally acts Gen X and multi-generational families looking their next house.
Much like any true mortgage loan, borrowers can decide where they wish to purchase. There are not any limits into the particular housing stock. The agency states its normal loan is for $225,000 while noting that numerous borrowers have now been authorized for brand new or near-new $300,000 homes. CHFA-backed originations is available through the entire metro area with Aurora, Denver, Colorado Springs, Thornton, Commerce City and Greeley creating the volume that is most. Like most of the Denver area, these urban centers have actually significant brand new house construction.
First-time house purchasers Scott and Heather MacPherson bought their house for his or her young, growing household with the aid of a CHFA loan. “Rent can be so costly, and we’d instead invest in a thing that is our very own therefore we can build equity, ” Heather stated. Continue reading