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homeownership how chfa supports
homeownership
Colorado homebuyers experienced eNewsletter that provides tips on
significant challenges in 2015 as home becoming a confident, empowered, and CHFA is Colorado’s
prices escalated and inventory remained successful homeowner. trusted partner
low across the Front Range. By year- for affordable
end, the average Coloradan needed to The results were tremendous, as the and responsible
earn $72,012 annually, or 118 percent combination of the grant and the homeownership. Our
of Area Median Income (AMI), to afford expanded outreach resulted in CHFA home mortgage loan
the median-priced home in Colorado, breaking its all-time home mortgage programs provide low
which was $285,000. loan production record previously and moderate income
established in 2007. By year-end, CHFA Coloradans with access
To help low and moderate income supported 4,223 Coloradoans in their to fixed rate financing at
buyers compete more effectively in dreams of homeownership and closed competitive prices.
this dynamic market environment, $745,930,385 in home mortgage loans.
CHFA launched a new Down Payment We also offer down
Assistance (DPA) Grant. The CHFA In 2015, CHFA-sponsored homebuyer payment assistance
DPA Grantsm gives borrowers up to education courses achieved the highest and sponsor homebuyer
3 percent of their first mortgage enrollment on record, with 9,048 education classes to
loan amount for down payment, households served. CHFA’s Home help our customers
closing costs, and/or prepaids. Finance Division also reached a one-day succeed. CHFA’s loan
compliance review cycle time. programs are available
To promote the DPA Grant, we through our statewide
launched our “Grant Yourself” network of participating
integrated marketing campaign. lenders. We are proud
Featuring expanded TV, radio, and to help our customers
digital advertising as well as social reach new heights by
media outreach, the campaign targeted investing in their dreams
Millennials—a key demographic CHFA of homeownership.
sought to help achieve homeownership
affordably and responsibly. CHFA also
introduced Your Road Home, a monthly
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