CHAC Immediate Payback
Colorado Housing Assistance Corporation (CHAC)
Up to
$12,000
Assistance
Second Mortgage
Area
Statewide
Buyers
First-time buyers
Income
80% AMI limit
What This Program Offers
CHAC Immediate Payback is a statewide second mortgage up to $12,000 (typically 6% of purchase price or appraised value, whichever is less) for first-time homebuyers at or below 80% AMI.
- Unlike deferred programs, this loan requires monthly payments from day one at a below-market interest rate.
- Administered through CHAC-approved lenders.
Who Qualifies
Location
Buyer type
Primary residence
Your contribution
Income limits
Household income must not exceed 80% AMI for Denver County
| Household | 80% AMI Limit |
|---|---|
| 1 person | $74,800 |
| 2 people | $85,450 |
| 3 people | $96,150 |
| 4 people | $106,800 |
Showing sizes 1-4. See all household sizes
Denver County • FY 2025 HUD Income Limits
How to Apply
- 1
Confirm first-time buyer status (no ownership in past 3 years).
- 2
Work with a CHAC-approved lender.
- 3
Verify income at or below 80% AMI.
- 4
Complete homebuyer education if required by lender.
- 5
Lender submits CHAC Immediate Payback application.
- 6
Second mortgage with monthly payments closes alongside first mortgage.
Documents you'll need
- First-time buyer affidavit
- Income verification (80% AMI limit)
- Pre-approval from CHAC-approved lender
- Purchase contract
- Homebuyer education certificate (if required)