chfa preferred fannie mae loans can now be combined with the dearfield fund

CHFA is pleased to announce that CHFA Preferred^sm programs can now be paired with additional down payment assistance of up to $50,000, through the Dearfield Fund.

This opportunity expands access to homeownership and helps potential homebuyers overcome financial barriers to purchasing a home in Colorado.

Program Overview

• Fixed interest rate CHFA Preferred Fannie Mae loan
• Optional CHFA DPA Second Mortgage Loan for up to the lesser of $25,000 or 4% of the CHFA First Mortgage Loan amount
  • CHFA DPA Second Mortgage Loan repayment is required but is deferred until the end of the loan term or an earlier event such as payoff of CHFA First Mortgage Loan, sale or refinance of home, or if the home is no longer the borrower’s primary residence
• Dearfield Fund subordinate lien of up to 20% of the purchase price (a maximum of $50,000) from the Dearfield Fund for down payment and/or closing costs
  • Dearfield Fund assistance takes second lien position behind the CHFA First Mortgage Loan or third lien position behind the CHFA DPA Second Mortgage Loan.
  • Borrower is required to make a shared appreciation payment, equal to the lower of 8% or the pro rata share of recognized appreciation upon sale, transfer, refinance, or home is no longer the borrower’s primary residence*

Please note: Borrowers must meet the applicable eligibility requirements of both CHFA and the Dearfield Fund.

Scheduled Training

• Tuesday, November 3, 2026, at 10:00am - CHFA and Dearfield Fund Webinar

Additional Information

All CHFA Participating Lenders approved to originate CHFA Preferred Fannie Mae loans will have access to these programs. Please note that each program requires a separate reservation and delivery process.

* Participating Lenders are encouraged to familiarize themselves with Dearfield Fund's program requirements. The Dearfield Fund operates independently of CHFA, and CHFA does not administer, oversee, or determine eligibility for Dearfield Fund programs. For information regarding program requirements, eligibility, applications, or other questions, lenders should contact the Dearfield Fund directly.

CHFA Home Finance
Homeownership@chfainfo.com
888.320.3688 - Homeownership Team