Colorado Housing and Finance Authority (CHFA)

CHFA works throughout Colorado to increase the availability of affordable, decent, and accessible housing for lower-income Coloradans, and to strengthen the state’s economy by providing financial assistance to businesses.

Participating lenders and community partners help CHFA deploy their resources statewide. Together with their partners, CHFA has invested more than $12.2 billion in Colorado’s economy. CHFA’s work revitalizes neighborhoods and creates jobs. They believe everyone in Colorado should have the opportunity for housing stability and economic prosperity.

Low Income Housing Tax Credits (LIHTC)

The LIHTC is a credit against regular federal income tax liability for investments in acquisition and rehab or construction of qualified rent-restricted, low-income rental housing. Regulations require that projects set aside a certain percentage of units for low income residents. Investors then take credits on an annual basis over a 15-year period, beginning with the year that the project is placed in service. A “compliance period” dictates strict occupancy regulations.

Non-profit and for-profit developers apply to CHFA, the State’s allocating agency, which then evaluates applications based on federal guidelines and criteria identified in its qualified allocation plan. For more information about LIHTC, visit CHFA’s website.
Public Housing Authorities (PHAs)

Public Housing Authorities were created by the Housing Act of 1937 to develop, own, and manage federal public housing under contract with HUD. PHAs are overseen by a Board of Commissioners or Directors who are either elected or appointed by the local jurisdiction. PHAs administer federal public housing units as well as Housing Choice Vouchers.

Federal public housing is developed, owned, and operated by PHAs. HUD provides an operating subsidy to pay for the costs of operating and managing the housing not covered by tenant rents. Public housing tenants typically pay a percentage (usually 30 percent) of their income as rent to the PHA.

In addition, the Colorado Department of Local Affairs’ Division of Housing and the Colorado Housing and Finance Authority are PHAs that assist communities in accessing federal housing resources, including Housing Choice Vouchers.

HUD maintains a complete list of PHAs in Colorado.

Colorado Housing Counseling Coalition (CHCC)

CHCC promotes affordable housing for low- and moderate-income families through housing counseling and the sharing of knowledge, resources and counseling techniques among members.

CHCC member agencies help people improve their housing conditions and meet the responsibilities of homeownership and tenancy. Among the many services the member agencies provide are: pre-purchase counseling, foreclosure prevention counseling, housing consumer education, debt management, and reverse equity mortgage counseling.

Many agencies, including DOLA, sponsor Colorado’s Foreclosure Prevention Hotline, 1-877-601-HOPE or

Homebuyer Readiness

Becoming a homebuyer is a huge step for most families, and readiness can be determined by several factors, including the following:

  • Credit history — A family should review their credit report, improve payment patterns and make corrections or updates.
  • Savings — A household savings account helps establish the discipline required to reduce debt.
  • Income and employment — Steady income patterns promote successful
  • Homebuyer workshops — Families should attend a homebuyer workshop to understand the process of buying and maintaining a home. The Colorado Housing and Finance Authority (CHFA) provides a homebuyer education curriculum adopted by many agencies offering homebuyer workshops.

CHFA homebuyer education resources.

EHomeAmerica is an on-line homebuyer education course.

HUD offers a list of HUD-approved housing counseling agencies serving Colorado.

Colorado Housing Search is jointly sponsored by the Colorado Housing and Finance Authority (CHFA) and DOH as a public service to the residents of Colorado. The site was developed through the collaboration of multiple agencies with a common stake in developing, financing, and preserving affordable housing throughout Colorado. Its goals are to:

  • Help Coloradans find and maintain quality, safe and decent places to live.
  • Provide a clearinghouse for affordable housing and related services.
  • Facilitate operating efficiencies in the affordable housing market.

Denver Metro Fair Housing Center (DMFHC)

DMHFC is a non-profit organization dedicated to eliminating housing discrimination and to promote housing choice for all people through comprehensive education, advocacy, and enforcement of fair housing law.

Colorado Civil Rights Division (CCRD)

The CCRD is charged with enforcing the State’s anti-discrimination laws, including housing laws. CCRD works to eliminate and prevent discrimination in housing, as well as in employment and public accommodation, through investigation, education, mediation, and enforcement.

New Market Tax Credits (NMTC)

NMTCs permit individuals and corporate taxpayers to receive a credit against federal income taxes for making qualified equity investments in Community Development Entities (CDEs). The credits total 39 percent of the cost of the investment and are claimed during a seven-year credit allowance period.

A substantial amount of the investment must be used by the CDE in support of business activities in low-income communities. This is not a funding source for housing, although it can support commercial and/or retail uses associated with housing or care facilities.

Private Debt Sources

Because tax credits and grants are generally not able to fully finance an affordable housing project, private debt sources are usually needed as well. Options include conventional financing from traditional banking institutions together with tax credits and gap financing. Fannie Mae and Freddie Mac are two Government-Sponsored Enterprises (GSEs) that help by purchasing investment-quality mortgages from conventional lenders, packaging the mortgages as securities, and selling them on the open market. Contact your lender for additional information.

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