CHAC’s homebuyer assistance program has been a great success for countless families across Colorado. CHAC provides low-interest, flexible loans to low and moderate (80% AMI or less) income first time homebuyers. These loans can be used for down payments and closing cost assistance. The power of this program can be understood through the following story of a family (not pictured for reasons of privacy) that CHAC recently helped.
The buyer, a single father, is blind. His mother lives with the family and helps care for the two children. They both participated in Home Buyer Education provided by CHAC and also received phone counseling prior to closing. The real estate agent, loan officer, title company, CHAC staff and others worked diligently to ensure that the buyer and his mother understood all aspects of the transaction. They purchased a single family, 3 bedroom home in an established neighborhood. This purchase represents the fulfillment of a longtime family goal. Having this home will provide a stable place for the owner and his children; allow them to live closer to public transportation, shopping, schools, libraries and other facilities; and the mortgage payment, PITI , will be less than the rent the family was paying.