CHFA’s programs are helping Coloradans become first-time homebuyers, including helping both younger generations and families with children to achieve homeownership. According to recent data, in 2025, 54 percent of CHFA homebuyers were under age 34, and the median age of CHFA borrowers was 33 years old. According to data published by the Consumer Financial Protection Bureau (CFPB), the percentage of Colorado homebuyers under age 34 has ranged from 38 percent to 39 percent of total buyers over the last five years. In the same five-year period, more than half of CHFA homebuyers (54 percent to 58 percent) were age 34 or younger.

CHFA homebuyers are more likely to be first-time homebuyers compared to national trends. Nationally, 21 percent of homebuyers were first-time buyers, according to an annual survey of homebuyers conducted from July 2024 to June 2025 by the National Association of REALTORS^® (NAR). In contrast, 91 percent of CHFA’s borrowers during that timeframe were first-time homebuyers. The national median age for first-time homebuyers reached an all-time high of 40 years old according to the most recent NAR survey, compared to 33 years old for CHFA borrowers.

CHFA has helped families with children become first-time homebuyers as well. According to NAR survey data from July 2024 to June 2025, 24 percent of national first-time homebuyers had children. For CHFA during the same timeframe, 42 percent of first-time homebuyers had children.

Down payment assistance available through CHFA may also help more Coloradans become first-time homebuyers. The national median down payment for first-time homebuyers was 10 percent, according to the recent NAR survey data. Based on recent data, 97 percent of CHFA’s first-time homebuyers used a CHFA down payment assistance program. As a result, many borrowers had little to no down payment. CHFA program guidelines require borrowers to make a minimum financial contribution of $1,000. In addition, funds for closing costs, prepaid items, and remaining down payment may also be required. Learn about CHFA’s down payment assistance options.

Elevation Community Land Trust partners with Colorado communities to create permanently affordable homeownership opportunities for low- to moderate-income households through the community land trust (CLT) model. In the CLT model, a nonprofit organization retains ownership of the land that the house sits on and leases the land to the homeowner for a designated period of time. There is a shared equity resale formula written into the land lease.

One of Elevation Community Land Trust’s latest developments is The Hattie McDaniel, which includes 62 permanently affordable condominiums located in Denver’s Five Points neighborhood. CHFA provided financing for the development. The Hattie McDaniel, named in honor of the iconic Black actress and singer, celebrates her legacy and Denver roots. Learn about The Hattie McDaniel development. 

Photo courtesy of Invalesco Real Estate

Colorado Housing and Finance Authority

www.chfainfo.com

This eNewsletter may contain links to third-party websites, applications, software, programs, or materials (each a “Third-Party Link”). Any such Third-Party Link is provided solely for your convenience. The presence of a Third-Party Link does not imply any endorsement of the content on the Third-Party Link or any endorsement of or association with the Third-Party Link’s operators or owners. You understand that, when accessing a Third-Party Link, that site is governed by the third party’s privacy policy and terms of use, and the third party is solely responsible for the content at such Third-Party Link. CHFA makes no representation and accepts no responsibility or liability regarding the quality, safety, suitability, or reliability of any Third-Party Link or the content on any Third-Party Link. Use of Third-Party Links is strictly at your own risk.