Deferred LoanStatewideFunds Available
CHFA SmartStep Plus
Colorado Housing and Finance Authority (CHFA)
Up to
$25,000
Assistance
Deferred Loan
Area
Statewide
Buyers
Repeat buyers welcome
Income
No income limit
What This Program Offers
CHFA SmartStep Plus offers statewide down payment help as either a grant (lesser of $25,000 or 3% of the first mortgage) or a 0% deferred second mortgage (lesser of $25,000 or 4%).
- Must be paired with a CHFA first mortgage using FHA, VA, or USDA financing.
- Household income is capped at $174,440 regardless of AMI.
- Repayment on the deferred option is due when you sell, refinance, or pay off the first mortgage.
Who Qualifies
Location
Available statewide in Colorado
Buyer type
Repeat buyers welcome
Primary residence
Must be your primary home — not an investment property
Education course
HUD-approved homebuyer education required before closing
Your contribution
You must contribute at least $1,000 of your own funds
No income limit — this program is available to all income levels.
How to Apply
- 1
Complete a CHFA-approved homebuyer education course.
- 2
Get pre-approved with a CHFA participating lender.
- 3
Choose FHA, VA, or USDA financing for your first mortgage.
- 4
Confirm household income is at or below $174,440.
- 5
Lender submits CHFA SmartStep Plus assistance with your loan package.
- 6
Assistance funds disbursed at closing.
Documents you'll need
- CHFA-approved homebuyer education certificate
- Income verification for all household members
- Pre-approval letter from CHFA participating lender
- Purchase contract
- Proof of minimum $1,000 buyer contribution