Colorado Housing and Financing Authority (CHFA) is Colorado’s trusted partner for affordable and accountable homeownership. Through participating lenders like American Financing, Coloradans get access to CHFA house purchase and refinance loans. These loans have actually competitive financing that is fixed-rate may provide advance payment or closing price support.

While first-time house purchasers are usually CHFA’s many regular clients, with 56% of their 2016 borrowers being Millennials, the agency additionally acts Gen X and multi-generational families in search of their next house.

As with every true mortgage loan, borrowers can decide where they wish to purchase. There are not any restrictions towards the particular housing stock. The agency claims its typical loan is for $225,000 while noting that lots of borrowers have now been authorized for brand new or near-new $300,000 domiciles. CHFA-backed originations can be bought for the metro area with Aurora, Denver, Colorado Springs, Thornton, Commerce City and Greeley creating the many amount. Like most of the Denver area, these urban centers have actually significant new house construction.

First-time house purchasers Scott and Heather MacPherson bought their property for his or her young, growing family members by using a CHFA loan. Read More