CHFA Preferred Program

CHFA Preferred Program This Colorado down payment program requires a credit score of just 620. Yet, rather than no monthly mortgage insurance, Colorado borrowers can qualify for reduced cost mortgage insurance. This Colorado down payment program has income and purchase price limits, and can be combined with the Colorado down payment and closing cost programs. However, the Preferred program with requires 3 percent Colorado down (must be your own funds) and Colorado borrowers must contribute a minimum of $1,000 towards the loan.