Summary
Two programs, one fixed-rate CHFA loan
Both programs add a 0% deferred second mortgage on top of a 30-year fixed CHFA first mortgage. Neither is a grant: you repay the second when you sell, refinance, pay off the loan or move out.
Key figures
- 25%
- of the loan, Schools To Home max
- $25,000
- or 4%, Colorado Champions max
- 620
- minimum mid credit score
- 30-yr
- fixed-rate CHFA first mortgage
Eligible jobs
Which jobs count
Any full-time employee of a Colorado preK-12 public school, district, charter, BOCES or innovation zone can use Schools To Home, not just teachers. Peace officers, firefighters (volunteers too), EMTs, 911 dispatchers, corrections, port of entry and wildlife officers use Colorado Champions.
Public school employees
Teachers, paras, bus drivers, custodians, office staff and administrators who are full-time at a Colorado public school.
Peace officers & deputies
P.O.S.T.-certified officers and non-certified deputy sheriffs working in Colorado.
Firefighters
Paid or volunteer members of a Colorado fire department, district or firefighting agency.
EMTs
Holders of a current CDPHE EMT certificate employed in Colorado.
911 dispatchers
Emergency communications specialists who receive, triage or dispatch calls.
Corrections officers
Staff performing covered corrections duties with the Colorado Department of Corrections.
Port of entry & wildlife officers
Commercial vehicle port of entry officers and Colorado Parks and Wildlife officers.
The second mortgage
How the assistance works
Schools To Home (school staff)
A 0% second mortgage of up to 25% of your CHFA first mortgage. CHFA's example: $87,500 on a $350,000 loan. No monthly payment, but you repay it in full at sale, refinance or payoff, plus a share of any appreciation that goes back to the Public School Permanent Fund.
Colorado Champions (first responders)
A 0% deferred second mortgage of up to $25,000 or 4% of the first mortgage, whichever is less. You repay it at sale, refinance, payoff or move-out. There is no shared appreciation.
CHFA SmartStep and Preferred (everyone else)
Nurses and other workers can pair a CHFA loan with a grant of up to $25,000 or 3% (no repayment) or a second mortgage of up to $25,000 or 4%. Income limit: $178,920 statewide.
CHFA FirstStep
CHFA's lowest-rate FHA option, with a down payment assistance second. It is for first-time buyers, qualified veterans or buyers in targeted areas, and it has county income and price limits.
Requirements
Checklist before you apply
Your job
At least one borrower must be full-time at a Colorado preK-12 public employer (Schools To Home) or work in a qualifying first responder role (Colorado Champions). Any school role counts, and there is no tenure requirement.
Income
Schools To Home: $178,920 qualifying income statewide, whatever your county or household size. Colorado Champions: $196,810 statewide.
First-time buyer?
Not required for Schools To Home, Colorado Champions, SmartStep or Preferred. Only FirstStep and FirstGeneration have first-time or first-generation rules.
Homebuyer education
Every borrower takes a CHFA-approved homebuyer class before closing. Schools To Home borrowers also complete CHFA's 'Understanding Your Financial Commitment' course and quiz.
The home
Your primary residence with one living unit. No purchase price limit for either program; the loan is capped at the lower of $832,750 or the loan type's limit. Bring at least $1,000 of your own funds (a gift is fine).
First mortgage
Loan terms underneath the assistance
CHFA does not lend directly. A CHFA participating lender makes the 30-year fixed first mortgage and the second mortgage, and closes both at the same time. CHFA rates go to lenders only, and CHFA notes higher rates apply when you use assistance, so a lender quotes your actual rate.
Schools To Home loan
- Conventional only: Fannie Mae HFA Preferred
- Max LTV 97%, combined LTV 105%
- PMI above 80% LTV (charter-level coverage at or below 80% AMI)
- Rate buydowns are not allowed
- Can't be combined with other CHFA programs; an outside DPA grant is permitted
Colorado Champions loan
- FHA, VA, USDA-RD, Fannie Mae or Freddie Mac
- Permanent buydowns allowed on FHA, VA and USDA-RD
- Manufactured housing allowed per the matrix
- No first-time buyer requirement, no price limit
Using the second mortgage
- Schools To Home funds can go to down payment, closing costs, prepaids or principal reduction
- You don't have to take the full amount
- No monthly payment and no interest on either second
Steps to closing
The order of operations
- Check the basics: full-time at a Colorado public school employer (Schools To Home) or a qualifying first responder role (Colorado Champions), income under $178,920 or $196,810, and a 620+ mid credit score.
- Get pre-approved with a CHFA participating lender. The lender verifies your employer and qualifies you under the loan type's rules.
- Go under contract. The lender locks the CHFA loan once you have a fully accepted contract and documents your eligible employment.
- Bring at least $1,000 of your own money (a gift counts) and close on the first mortgage and second mortgage together.
Paperwork lenders request
Proof of employment
School staff: a current paystub, written verification of employment or other employer paperwork showing full-time status, at application and again at closing. First responders: certification, paystub or written VOE, plus a P.O.S.T. or CDPHE EMT certificate where it applies.
Income and assets
Recent paystubs, W-2s and tax returns, bank statements, and a gift letter if family is helping with your $1,000 contribution.
Course certificates
Each borrower's CHFA-approved homebuyer education certificate. Schools To Home borrowers also need the 'Understanding Your Financial Commitment' certificate for the lender's file.
County limits
Limits where you plan to buy
Schools To Home and Colorado Champions use one statewide income limit, so the county numbers mostly matter if you fall back to CHFA FirstStep.
| County | Seat | Income, 1–2 | Income, 3+ | Price cap |
|---|---|---|---|---|
| El Paso County | Colorado Springs | $127,800 | $146,970 | $566,730 |
| City and County of Denver | Denver | $144,000 | $165,600 | $832,750 |
| Arapahoe County | Littleton | $144,000 | $165,600 | $832,750 |
| Jefferson County | Golden | $144,000 | $165,600 | $832,750 |
| Adams County | Brighton | $144,000 | $165,600 | $832,750 |
| Douglas County | Castle Rock | $144,000 | $165,600 | $832,750 |
| Weld County | Greeley | $153,600 | $179,200 | $735,320 |
| Larimer County | Fort Collins | $130,400 | $149,960 | $664,190 |
| Boulder County | Boulder | $150,000 | $172,500 | $832,750 |
| Pueblo County | Pueblo | $153,360 | $178,920 | $692,210 |
| Mesa County | Grand Junction | $127,800 | $146,970 | $566,350 |
| City and County of Broomfield | Broomfield | $144,000 | $165,600 | $832,750 |
| Garfield County | Glenwood Springs | $127,800 | $146,970 | $832,750 |
| La Plata County | Durango | $127,800 | $146,970 | $782,110 |
| Eagle County | Eagle | $127,800 | $146,970 | $832,750 |
| Fremont County | Cañon City | $127,800 | $146,970 | $566,350 |
| Montrose County | Montrose | $127,800 | $146,970 | $566,350 |
| Delta County | Delta | $153,360 | $178,920 | $692,210 |
| Summit County | Breckenridge | $145,800 | $167,670 | $832,750 |
| Elbert County | Kiowa | $144,000 | $165,600 | $832,750 |
Income and price columns are CHFA FirstStep non-targeted limits, effective November 2, 2026. Schools To Home ($178,920) and Colorado Champions ($196,810) use statewide limits with no price cap. County guides · City programs · Full limits table · Home budget tool
Lender match
Talk to a lender who closes these loans
Only CHFA participating lenders can offer these programs, and CHFA shares its rates with lenders only. A loan officer who already closes Schools To Home or Colorado Champions loans can check your employer, compare your options against SmartStep or Preferred, and confirm whether Schools To Home funds are still available.
Self-employed & gig
Income that isn't a W-2
Business owners & 1099 earners
Run your own business?
Contractors and owners qualify for several Colorado programs. See how lenders turn your tax return into qualifying income.
- HFA1, SmartStep and Preferred accept any occupation
- Lenders average two years of net income after add-backs
- A school-employee spouse can open Schools To Home
App drivers & delivery work
Earn through driving or delivery apps?
Gig workers can use several Colorado programs. Here is how lenders count app income after mileage and seasons.
- HFA1, SmartStep and metroDPA do not ask about your job
- Plan on two years of app income on your returns
- Weekend gigs can add to a salary once they have history
Questions
CHFA Schools To Home: common questions
Who qualifies for CHFA Schools To Home?
Anyone classified as full-time by a Colorado preK-12 public school, school district, charter school, institute charter school, BOCES or innovation zone. That includes teachers, paraprofessionals, bus drivers, custodians and office staff. There is no tenure requirement. At least one borrower must qualify, with income at or below $178,920 and a 620+ mid credit score.
How much can a Colorado school employee get?
Up to 25% of your CHFA first mortgage as a 0% second mortgage. CHFA's example is $87,500 on a $350,000 loan. You don't have to use the full amount, and it can cover down payment, closing costs, prepaids or principal reduction.
Is Schools To Home a grant?
No. It is a 0% second mortgage with no monthly payments. You repay it in full when you sell, refinance, pay off the first mortgage, stop living there or reach the end of the term. You also pay a share of the home's appreciation to the Public School Permanent Fund. If the home doesn't gain value, that share is zero.
How is the shared appreciation figured?
Divide your assistance by the original purchase price, then multiply by the gain in value. In CHFA's example, $87,500 on a $437,500 home is 20%. If the home sells for $480,000, the gain is $42,500, so $8,500 is owed on top of the $87,500, for $96,000 total.
Is Schools To Home running out of money?
Funds are limited. The program started with $10 million from the Public School Permanent Fund, CHFA estimated about 125 purchases, and 85 people had used it by mid-September 2026, per Chalkbeat. More investment is planned, but CHFA publishes no running total, so a participating lender confirms availability.
Is there a program for Colorado police, firefighters and EMTs?
Yes. CHFA Colorado Champions, created by SB26-053, covers peace officers (including non-certified deputies), firefighters (including volunteers), EMTs, 911 dispatchers, corrections, port of entry and wildlife officers. It offers a 0% deferred second of up to $25,000 or 4% of the loan, whichever is less, with a $196,810 income limit. CHFA says the program does not have limited funds.
Do I have to be a first-time homebuyer?
No. Schools To Home, Colorado Champions, SmartStep and Preferred are open to repeat buyers. Only CHFA FirstStep (first-time buyers, qualified veterans or targeted areas) and FirstGeneration have that kind of rule.
Are there purchase price limits?
Not for Schools To Home, Colorado Champions, SmartStep or Preferred. The loan amount is capped at the lower of $832,750 or the loan type's limit. FirstStep and FirstGeneration have county price limits, from $566,350 to $832,750 in non-targeted areas.
What if I'm a nurse or I work somewhere else?
Nurses aren't named in either program unless they hold a qualifying EMT certificate and EMT role. You can still use CHFA SmartStep, with a grant of up to $25,000 or 3% or a second of up to $25,000 or 4%, or CHFA Preferred. Both have a $178,920 income limit and no first-time buyer rule. First-time buyers can also look at FirstStep.
Do part-time or substitute school employees qualify?
CHFA only says your employer must classify you as full-time, at application and at closing. It hasn't published more on substitutes, part-time or contract staff, so a participating lender confirms your status with your employer.
