Colorado · Deferred 0% loan

CHFA DPA Second Mortgage

4% deferred, 0% interest

Up to 4% of mortgage as 0% deferred second mortgage. No payments until sale, refinance, or payoff.

CHFA's DPA Second provides 4% of the first mortgage as a deferred second mortgage. The loan has no payments for the first year, then converts to a low-interest amortizing loan. More assistance than the grant but with eventual repayment.

Amount4% deferred, 0% interest

TypeDeferred 0% loan

Available inColorado

First-time buyer requiredYes

Minimum credit score620

Multi-unit eligibleYes — 1-4 units

House-hack eligible

This program can be used on 1-4 unit properties. Live in one unit, rent the others.

Programs that pair with this

FHA Loan Saves ~$33,000 on a $200K home vs 20% down

Federal · Subsidized loan

VA Loan $0 down + no monthly mortgage insurance

Federal · Federal benefit

NACA Program $0 down + $0 closing + $0 PMI + below-market rate

National · Nonprofit program

CHFA DPA Grant 3% grant — no repayment + only $1K out of pocket

Colorado · Grant

CHFA FirstGeneration $25,000

Colorado · Deferred loan

CHFA HomeAccess $25,000

Colorado · Deferred 0% loan

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