breaking news: dpa uses expand to include real estate agent fees and compensation

In our continued efforts to offer flexible homebuying options to help meet Coloradans’ financial needs and align with industry practices, as of August 30, 2024, all CHFA down payment assistance funds may be used toward:

• down payment,
• closing costs (including real estate agent fees and compensation, provided all applicable insurer, guarantor, or Fannie Mae or Freddie Mac requirements are met),
• prepaids, and/or
• principal reductions.

CHFA DPA may not be used to fund appraisal gaps, escrow repairs, CHFA’s Minimum Borrower Financial Contribution, or to pay off debt.

Additionally, excess funds resulting from CHFA DPA may not result in cash back to the borrower at closing.

Please contact us if you have questions.

CHFA Home Finance
homeownership@chfainfo.com
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope