chfa schools to home program

The Colorado General Assembly authorized CHFA to develop and manage a shared appreciation down payment assistance program for public school employees, funded by investment from the Public School Permanent Fund (PSPF).

Homeownership contributes significantly to the long-term affordability and stability of communities. CHFA Schools To Home^sm was created to help Colorado public school employees purchase homes and live in the communities where they work.

Program Overview

• Fixed interest rate first mortgage loan
• Down payment and/or closing cost assistance: second mortgage loan* for up to 25% of the first mortgage loan
• Shared appreciation component: borrower shares percentage of appreciation gained with the Public School Permanent Fund (PSPF)

*Second mortgage loan repayment, along with the shared appreciation payment, is required but is deferred until the end of the loan term or an earlier event such as payoff of first mortgage loan, sale or refinance of home, or if the home is no longer your primary residence.

Who is a “public school employee?”

CHFA Schools To Home is for any individual employed by a Colorado public school, school district, charter school, institute charter school, board of cooperative educational services, or innovation zone, who is classified as a full-time employee by their employer. You can verify eligible employers on the Colorado Department of Education’s website.

Please note: If multiple borrowers are on the loan, only one borrower must be a full-time public school employee.