For Program Descriptions go to Helpful Tools
Loans received after Jun 13th can not be closed before July 1st
Loans received after July 16th can not be closed before August 1st
Most recent changes:
July 15, 2010
Funds are still available in Denver and Lakewood under CHAC's statewide program. ($5,000.00 with an immediate $50.00 per month payment)
June 22, 2010
CHAC will not subordinate to a refinance.
CHAC will not accept a short sale agreement on CHAC second mortgages if the second mortgage is less than five years old.
June 21, 2010
CHAC will no longer provide Downpayment Assistance Loans on properties that have been tenant occupied.
June 21, 2010
Lakewood loan guidelines have changed to conform to our Statewide program guidelines. Funds are still available.
May 25, 2010
NEW SPECIAL PROGRAM for Denver (City and County of Denver only)
Property must be foreclosed
Sales Price must be at least 1% less than appraised value
Loans must CLOSE by 09/10/2010
Income Limits to 120%
Family size Income limit
1 person-$63,750 2 person-$72,850 3 person-$81,950 4 person-$91,100
May 16, 2010
HUD has published their 2010 income limits. CHAC has updated the income limits used statewide.
Feb 15, 2010
CHAC will have two types of funds available in the City and County of Denver. Different guidelines apply.
First-Time Homebuyer Downpayment Funds
First-Time Homebuyer Downpayment Funds - Foreclosed properties
January 1, 2010.
All CHAC borrowers must attend a site based CHFA class to fullfill the First Time Homebuyer Class requirement for CHAC Downpayment Assistance. If there is no class held within 50 miles of the borrowers current residence please call for alternatives.
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In General:
CHAC provides assistance Statewide. Funds are limited.
CHAC funds are currently not available for properties in the City of Aurora, Westminster, or Arvada and the county of Adams, Boulder, or Douglas.
Programs can vary by County. CHAC has a special program for people with permanent disabilites.
Lenders are encouraged to learn more about the various programs and loan assistance CHAC has to offer.
Lender Training:
When: Offered the 2nd Wednesday of the month from 9:00 a.m.-11:00
Where: CHAC office 670 Santa Fe Drive, Denver, CO 80204
Cost: FREE
What is covered: This training covers the CHAC programs, process and policies. You will have general information about how to access our programs for your customers. Please call 303-572-9445 to register.
Please Note: CHAC will accept the first application from new lenders prior to attendance at this training. Lenders not based in the metro area, please call (303) 572-9445 for a telephone appointment and to review the material.
Mortgage Assistance Loan Programs
The CHAC mortgage assistance loan program is approved by FHA, Fannie Mae, Freddie Mac, and many other affordable loan products. However, we encourage you to check with your investor relations department to assure investor approval of CHAC's Programs.
For additional information on our program
- program descriptions
- eligibility requirements
- Downpayment Assistance Application
- other forms
If you need assistance, please contact us at (303) 572-9445.