What Is CHFA Schools To Home℠?
CHFA Schools To Home℠ provides up to 25% down payment assistance to employees of Colorado public schools, school districts, and charter schools. There is no monthly payment, the assistance carries 0% interest, and repayment is deferred until a life event.
It was built for the people who keep schools running — teachers, custodians, bus drivers, cafeteria staff, paraprofessionals, and every other school employee. There is no minimum tenure, so brand-new hires qualify on day one, and you do not have to be a first-time buyer.
How It Works
30-Year Fixed First Mortgage
Fannie Mae financing with stable, predictable payments. Lock in your rate and start building equity from day one.
0% Second Mortgage
Up to 25% of your first mortgage loan amount, with zero monthly payment. Applied to your down payment, closing costs, or prepaids.
Repaid At A Life Event
0% interest, deferred until you sell, refinance, pay off the first mortgage, or the home is no longer your primary residence.
Who Qualifies?
Employment
You work for a Colorado public school, school district, or charter school. No minimum tenure is required — brand-new hires qualify on day one.
Credit Score
A minimum 620 mid credit score. If you are close, we will work with you on optimizing your credit profile.
Income
Household income at or below the $178,920 statewide limit. This is based on total household income, not individual income.
Homebuyer Education
Complete a CHFA-approved homebuyer education course. We will recommend providers and walk you through the process.
Down Payment
A minimum $1,000 contribution, which may come from a gift. This supports sustainable, long-term homeownership.
Borrower Profile
You must occupy the home as your primary residence. No cosigners or non-occupying co-borrowers. Not limited to first-time buyers.
Custodians. Bus drivers. Cafeteria staff. Teachers. Paraprofessionals. If your paycheck comes from a Colorado public school system, this program was built for you.
Where It Comes From
Colorado’s schools are, quite literally, investing in the people who work in them.
- Legislative authority — The Colorado General Assembly authorized CHFA to fund this program with an investment from the Public School Permanent Fund.
- Sustainable funding — This is not a temporary grant. It is a permanent commitment to school employee homeownership, backed by Colorado’s long-term education investment.
- Program maximum — Up to 25% down payment assistance. Rates, terms, and guidelines are set by CHFA and are subject to change. Not a commitment to lend. Equal Housing Opportunity.
Your Path Forward
Five steps from curiosity to keys in hand.
- Connect and get pre-qualified — Schedule a free consultation with Evergreen 360. We review your employment, credit, income, and down payment situation. No obligation.
- Complete your education course — Finish your CHFA-approved homebuyer education. We recommend trusted providers, and you can often complete it online.
- House hunt with confidence — Start looking knowing exactly what you can afford. Our team coordinates with real estate so your offers go out clean.
- Lock your loan and your assistance — Once you find the right home, we lock in your rate and your down payment assistance amount. No surprises at closing.
- Close and get your keys — Closing day arrives with reduced upfront costs, a lower monthly payment, and equity building from day one.
Why Choose Evergreen 360?
We built this around the way Colorado school employees actually get hired, paid, and promoted.
- Local expertise — Based in Colorado Springs, with deep knowledge of Colorado housing programs, school district employment, and the financial realities educators face.
- Integrated approach — Mortgage, real estate, financial planning, and insurance under one roof, so your down payment assistance fits your broader financial picture.
- NMLS licensed — A regulated mortgage broker, NMLS #2133544. We are accountable to state standards and ongoing compliance.
- Real people — You work directly with Ryan and the team. No call centers and no script readers.
- Transparent process — Every step, every fee, and every term explained upfront. No surprises and no bait and switch.
- Ongoing support — From pre-qualification through closing and well beyond. Questions after closing? We are still here.
Explore CHFA Schools To Home
Program overview flyer — A visual guide showing how the program works, who qualifies, and your path to homeownership. View the interactive flipbook.
Detailed presentation — A full walkthrough of the program, including eligibility, structure, and real examples of how the numbers work. Request the presentation.
Answering Your Questions About CHFA Schools To Home
Grants are non-repayable funds you keep after closing. Once closing occurs the money is yours, with no repayment obligation regardless of what happens with the property.
Forgivable loans must be repaid if you sell or move within a set period, typically five to ten years. Stay in the home for the full forgiveness period and the loan is eventually forgiven.
CHFA Schools To Home uses a deferred-payment second mortgage: 0% interest, no monthly payment, and repaid only at a life event such as a sale, a refinance, or payoff of the first mortgage.
No. CHFA Schools To Home is available to both first-time and repeat homebuyers. If you have owned a home before and are buying again, you may still qualify as long as you meet the other eligibility criteria.
Eligibility requirements include:
- Employment with a Colorado public school, school district, or charter school
- Minimum 620 mid credit score
- Household income at or below $178,920 statewide
- Completion of a CHFA-approved homebuyer education course
- Minimum $1,000 down payment contribution
CHFA Schools To Home is typically paired with a 30-year Fannie Mae conventional mortgage as your primary loan. The down payment assistance, structured as a 0% second mortgage, sits behind that first mortgage.
This structure is straightforward and works well for school employees with stable employment and income. If you have specific loan program preferences or circumstances, we will discuss coordination options during your pre-qualification consultation.
The key is that CHFA program guidelines must be followed. Rates, terms, and structure are set by CHFA and are subject to change.
When you sell or refinance, two things come due on your CHFA down payment assistance.
1. Loan repayment. You repay the full amount of assistance you received. This is the principal only — there is no interest charged and it was never a monthly payment.
2. Equity share. CHFA also receives an equity share, proportional to the assistance percentage you received:
- Received 25% assistance — CHFA receives a 25% equity share
- Received 15% assistance — CHFA receives a 15% equity share
- Received 10% assistance — CHFA receives a 10% equity share
An example on a sale. Say you received $50,000 in assistance, which is 25% of a $200,000 loan, and you sell ten years later for $400,000 with $150,000 remaining on the first mortgage:
- Sale price: $400,000
- Less first mortgage payoff: $150,000
- Gross proceeds: $250,000
- Less CHFA loan repayment: $50,000
- Less CHFA equity share: 25% of the net proceeds
- Your net proceeds: the remainder after both
On a refinance, the same repayment and equity share apply, since the second mortgage is paid off from the new loan proceeds.
For the exact figures based on your own assistance percentage and your home’s appreciation, review the detailed presentation or call us at (719) 600-2228. We want you to have the complete picture well before closing.
The assistance itself does not affect your credit. It is a funding source, not a credit event.
Because the program is structured as a 0% second mortgage, it will appear on your credit report as a secondary obligation. That can affect your debt-to-income ratio for future borrowing, since lenders will see an additional mortgage lien on the property.
Impact on future borrowing: if you later want to refinance or take out another loan, a lender may factor the second mortgage into their debt-to-income calculations. That could affect the amount you can borrow or the rate you receive.
We will walk through these implications upfront so you can make an informed decision about whether CHFA is the right fit for your situation.
Ready to See Your Numbers?
Schedule a free, no-obligation consultation with Evergreen 360. We will review your situation and show you exactly how CHFA Schools To Home can work for you.