accessory dwelling unit (adu) credit enhancement and interest rate buydown programs

Beginning today, Monday, February 23rd, eligible lenders are invited to apply for financing from two new programs that support the construction or conversion of Accessory Dwelling Units (ADUs) for low- and moderate-income borrowers and/or tenants in ADU Supportive Jurisdictions, as certified by the Department of Local Affairs (DOLA).

The ADU Credit Enhancement Program supports lenders offering affordable loans to eligible low- and moderate-income borrowers for the construction or conversion of ADUs. Additional ADU Credit Enhancement program information is available on the CHFA website.

The ADU Interest Rate Buydown Program helps lower interest rates on loans made to eligible low- and moderate-income borrowers in connection with the construction or conversion of ADUs. Additional ADU Interest Rate Buydown program information is available on the CHFA website.

Applications for each program will be accepted on a first-come, first-served basis until program funds are depleted.

ADU Finance Programs are administered by CHFA under a contract with the Colorado Economic Development Commission (EDC) by and through the Office of Economic Development and International Trade (OEDIT). Please see chfainfo.com/adu for more information.