CHFA Colorado Champions supports those who serve our communities.
The CHFA Colorado Championssm program helps expand homeownership opportunities for first responders and law enforcement to live in the communities they serve.
Program Overview
- Available to eligible peace officers, firefighters, and emergency medical technicians with a borrower income at or below $196,810 annually. See full descriptions below.
- Fixed interest rate CHFA First Mortgage Loan
- CHFA DPA Second Mortgage Loan for up to the lesser of $25,000 or 4% of the first mortgage loan amount
- CHFA DPA Second Mortgage Loan repayment is required but is deferred until the end of the loan term or an earlier event such as payoff of first mortgage loan, sale or refinance of home, or if the home is no longer your primary residence.
Who is a “Colorado Champion?”
Colorado State law, which established the CHFA Colorado Champions program, defines eligible Colorado Champions as:
- Peace officers, including:
- P.O.S.T.-certified peace officers and non-certified deputy sheriffs;
- emergency communications specialists;
- corrections officers;
- port of entry officers; and
- wildlife officers.
- Firefighters
- Emergency medical technicians
Eligible borrowers must be employed by a Colorado employer and work in Colorado.
In all cases, Participating Lenders must document at least one borrower’s eligibility with appropriate supporting documentation, such as a certification, current paystub, written verification of employment, and/or other acceptable employer-issued documentation.
General Program Requirements
- One borrower must be a peace officer, firefighter, and/or emergency medical technician;
- Borrowers must have a mid-credit score of 620 or higher;
- Borrowers’ income cannot exceed CHFA’s statewide CHFA Colorado Champions program income limit of $196,810;
- Borrowers must individually and independently complete a CHFA-approved homebuyer education class prior to their mortgage loan closing date; and
- Borrowers must contribute at least $1,000 toward the purchase of the home.
In addition to meeting CHFA program requirements, borrowers must qualify according to the underwriting guidelines as determined by a CHFA Participating Lender. CHFA does not qualify homebuyers, and any questions regarding your potential qualifications can be discussed with a CHFA Participating Lender.