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CHFA Refinance Options for Current CHFA Borrowers
Lower your rate. Keep your CHFA assistance. No cash required.
Good news for Colorado homeowners:
If you currently have a CHFA FHA loan, you may be able to lower your interest rate with minimal documentation and no DPA payoff required. This program is designed to keep your CHFA assistance in place while reducing your monthly payment.
What You Need to Qualify
✔ 12 months of on-time mortgage payments
✔ FICO score of 550+
✔ No loan modification or forbearance in the past 12 months
What You Don't Need
✔ No Appraisal Required
✔ No income Verification
✔ No debt to income Evalutation
✔ No need to pay off your CHFA second mortgage
More Info
Ready to See How You Can Save?
CHFA now allows eligible homeowners to refinance their existing FHA loan without touching their second mortgage. In most cases, you do not need to bring any additional funds to closing outside of your normal mortgage payment.
This streamlined refinance is designed to make lowering your payment as easy as possible, with no appraisal, no income verification, and minimal documentation. If your current FHA rate is high, this program can offer significant monthly savings with minimal hassle.
Even a small drop in rate can make a big difference in your monthly payment, and CHFA’s program is built specifically for homeowners looking to take advantage of improving rates.
How the Refi Works
1. Send Us Your Mortgage Statement
This gives us your payoff amount, current rate, loan term, and CHFA structure.
2. We Show You Your Savings
We’ll calculate your new estimated payment and compare it to your current one so you can see the potential monthly savings.
3. Refi & Save – With No Money Due at Closing
You’ll bring your next month’s normal mortgage payment, but typically nothing more.
When Is the Right Time to Refinance?
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Mortgage rates are always changing, and we continually monitor the market to let our clients know when it’s the right time to refinance. As of right now, homeowners with an FHA rate of 7% or higher should strongly consider a CHFA Streamline Refinance.
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We’ll keep you updated as rates improve so you can take advantage of the program at the best possible time.
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