Interest Rates Starting at 3.5% for The Hattie McDaniel

CHFA Drive It Home℠ and CHFA Drive It Home Plus℠

The mortgage loan programs provide below-market interest rates* on home mortgages for a limited number of newly constructed for-sale homes sold at affordable price points for Colorado buyers earning no more than 140 percent of the statewide Area Median Income (AMI).

The homes are located in developments funded under the CHFA Drive It Home - Construction Loan℠, which provides a below-market interest rate to for-profit and nonprofit home builders to support new construction of for-sale homes.

Program Details

• Loan Types: Fixed-rate FHA, VA, USDA-RD, Fannie Mae, or Freddie Mac home mortgage

• Down Payment Assistance: Up to the lesser of $25,000 or 4 percent of the CHFA first mortgage in down payment and/or closing cost assistance

• Maximum Loan Amount: $450,000

• Credit Score: 620 minimum credit score required

• Education: Borrowers must attend a CHFA-approved homebuyer education class

• Eligibility: Available to first-time and non-first-time homebuyers

• Property Requirement: Home must be located in a development funded under the CHFA Drive It Home Construction Loan℠

Get Started by calling one of our lenders!

In addition to meeting CHFA program requirements, borrowers must qualify according to the underwriting guidelines as determined by a CHFA Participating Lender. CHFA does not qualify homebuyers, and any questions regarding your potential qualifications can be discussed with a CHFA Participating Lender.

*References to below-market interest rates are subject to market conditions

Equal Housing Opportunity / Nondiscrimination Statement With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority prohibits unlawful discrimination against applicants or employees on the basis of age 40 years and over, race, sex, sexual orientation, gender identity, gender expression, color, religion, national origin, disability, military status, genetic information, marital status or any other status protected by applicable federal, state or local law