Three Point Mortgage is not a CHFA Participating Lender, and neither Chris Cartwright nor Three Point Mortgage is affiliated with, endorsed by, or representing the Colorado Housing and Finance Authority.
I can originate CHFA loans through wholesale lenders who hold the participating lender agreements with CHFA.
CHFA is a separate public entity. Its program names and materials belong to CHFA. This page explains CHFA programs independently so buyers can understand them. CHFA loans are originated through wholesale lenders that hold agreements with CHFA. Confirm all program terms directly with CHFA at chfainfo.com, the official source, before making a decision.
Colorado Champions is brand new. The Colorado legislature created it by statute, CHFA administers it, and the program launches in November 2026. Practically nobody has used it yet, which means if you are a first responder thinking about buying in the next year, you are early rather than late for once.
I want to be upfront about what this page is. CHFA has published the program outline but not the full administrator guidance. Several details that matter to a real loan file are still not public. I have separated what CHFA has confirmed from what remains open, because a write-up that quietly guesses at the open parts is worse than no write-up at all when you are making a decision this size.
Who qualifies
Three groups qualify: peace officers, firefighters, and emergency medical technicians. The peace officer definition is considerably broader than most people assume, and that is where the surprises are.
The one I would point out is emergency communications specialists. Dispatchers are on the list. If you work a console rather than a patrol car or an engine, you are still covered, and I expect that to be the single most overlooked piece of this program.
At least one borrower on the loan has to be eligible, and that borrower must be employed by a Colorado employer and working in Colorado. Your lender has to document the eligibility, so it is not a self-certification.
The numbers CHFA has published
| Item | What CHFA states |
|---|---|
| Eligible borrowers | Peace officers, firefighters, and EMTs employed by a Colorado employer and working in Colorado |
| Assistance | CHFA DPA Second Mortgage Loan, up to the lesser of $25,000 or 4 percent of the first mortgage loan amount |
| First mortgage | Fixed interest rate CHFA First Mortgage Loan |
| Repayment of the second | Deferred until the end of the loan term or an earlier triggering event |
| Income limit | $196,810 annually, statewide |
| Minimum credit score | 620 mid score |
| Borrower contribution | At least $1,000 toward the purchase |
| Homebuyer education | A CHFA-approved class, completed individually by each borrower before closing |
| Funding | CHFA states the program does not have limited funds |
| Launch | November 2026 |
That last line about funding is worth noticing. Plenty of down payment assistance programs run on allocated pools that empty partway through the year, and buyers lose out because of timing rather than qualification. CHFA says this one is not structured that way.
How the assistance actually works
You take two loans at the same closing. A fixed rate CHFA first mortgage, and a CHFA DPA second mortgage for the assistance amount.
The second mortgage is deferred. You do not make payments on it month to month. It sits behind your first mortgage as a recorded lien until something triggers repayment.
The triggers CHFA lists are paying off the first mortgage, selling the home, refinancing, or the home no longer being your primary residence. Absent any of those, repayment comes due at the end of the loan term.
This is the single most common misunderstanding about down payment assistance, and it is worth being blunt about. A deferred second mortgage is money you owe. You are not making payments on it today, and that is genuinely valuable, but it is a debt against your home and it gets paid back. What makes this structure comparatively friendly is that you repay the amount, not a share of what your home becomes.
How Colorado Champions compares to CHFA Schools To Home
CHFA now runs two occupation-based programs created by state law, and they are built very differently. If you know a teacher who used Schools To Home, do not assume your program works the same way, because the repayment mechanics are not close.
| Colorado Champions | Schools To Home | |
|---|---|---|
| Who qualifies | Peace officers, firefighters, EMTs | Full-time public school employees |
| Assistance amount | Lesser of $25,000 or 4 percent of the first mortgage | Up to 25 percent of the first mortgage |
| Repayment | The assistance amount, deferred | The assistance amount plus a share of appreciation |
| Income limit | $196,810 | $178,920 |
| Minimum credit score | 620 mid | 620 mid |
| Borrower contribution | $1,000 | $1,000 |
| Launch | November 2026 | July 2026 |
The tradeoff is clean. Schools To Home hands over far more cash, up to 25 percent of the first mortgage instead of 4 percent, and in exchange it takes a predetermined share of your appreciation when you sell or refinance. Colorado Champions gives you less money and takes none of your upside.
Which structure is better depends entirely on how much cash you actually need to close. If 4 percent gets you there, the Champions structure is the friendlier deal by a wide margin, because you keep everything your home gains. If you need far more than that to buy at all, a larger assistance amount with an appreciation obligation may still be the move, and that is the conversation I have with school employees constantly.
Most people will never have to choose, since almost nobody is eligible for both. The exception is a household with one first responder and one school employee, where the loan can be structured around either borrower. If that is your situation, the math genuinely is not obvious and it is worth running both ways before anyone signs anything. You can read the full breakdown of how Schools To Home works here.
Not sure which program fits?
A short call sorts out eligibility and runs the numbers against your actual situation.
What CHFA has not published yet
This is the part other write-ups will skip, and it matters more than anything above if you are planning a purchase. As of late October 2026, ahead of the November launch, CHFA's published program page does not address the following.
Which first mortgage products are allowed. CHFA says only "fixed interest rate CHFA First Mortgage Loan" without naming FHA, VA, USDA, Fannie Mae, or Freddie Mac. That is not a small gap. The product determines how mortgage insurance is handled and how much flexibility you get on debt ratios, and for a lot of first responders the VA option would be the relevant question.
Debt to income limits. CHFA states that borrowers must qualify under the underwriting guidelines of a CHFA Participating Lender, which defers the answer rather than giving one.
Purchase price limits. The only limit CHFA states is the income limit. Schools To Home has no program purchase price limit either, which gives some reason to expect the same here, but CHFA has not said so and I am not going to assume it for you.
Whether first-time buyer status is required. Not stated. Schools To Home explicitly does not require it. Champions is silent.
The interest rate on the second mortgage. CHFA describes the repayment as deferred but does not publish a rate for the DPA second.
Whether you have to buy where you work. The published requirement is that you are employed by a Colorado employer and work in Colorado. There is no stated requirement that the home be in the community you serve, despite how the program is framed.
I will update this page as CHFA releases its administrator guidance ahead of launch. If you want me to tell you directly when those answers land, send me a note and I will.
Who this fits well, and who should look harder
It fits well if you are a first responder with stable income and limited savings, buying somewhere in the next six to eighteen months. The combination of a deferred second and no appreciation share is genuinely favorable compared to most assistance programs, and the income limit is high enough that a dual income household with two public sector salaries will usually still be under it.
Look harder in two situations. If you already have enough saved to close comfortably, taking a second lien you do not need still complicates things later, because that lien has to be dealt with the next time you refinance. And if you are buying at a typical Front Range price point, understand that 4 percent of the first mortgage is a real help but it is not going to cover a down payment and closing costs together. Plan on bringing money to the table regardless.
What to do before November
Pull your credit now. A 620 mid score is the floor, and if you are sitting near it, the useful fixes take thirty to sixty days to show up. Starting that in November means closing in February.
Get the homebuyer education done early. Every borrower has to complete a CHFA-approved class individually before the closing date. People routinely leave this to the final week and delay their own closing over it, which is an avoidable and frustrating way to lose a contract. I keep a list of free homebuyer classes here.
Sort out your employment documentation. Your lender has to document that you meet the eligible occupation definition, which is a separate exercise from documenting your income. If your role sits at the edge of the definitions, like a non-certified deputy or a communications specialist, it is worth confirming that before you are under contract rather than during underwriting.
Where I fit in this, plainly
I am not CHFA and I do not speak for them. What I can do for you is explain how these programs actually behave over the life of a loan, run Champions against your alternatives, and tell you when the answer is that a different loan serves you better.
For official program terms, go straight to the source at CHFA's Colorado Champions program page, and confirm anything you read here against it before you make a decision.
First responder thinking about buying in 2027?
A 15-minute call sorts out whether Colorado Champions fits, what you would actually need to bring to closing, and how it compares against your other options. I can originate CHFA loans through wholesale lenders who hold the participating lender agreements with CHFA.
Program details reflect CHFA's published Colorado Champions program information as of October 2026, prior to the program's November 2026 launch, and are subject to change. Several program details have not yet been published by CHFA and are identified as such above. Confirm all terms directly with CHFA at chfainfo.com before making a decision. Chris Cartwright and Three Point Mortgage are not a CHFA Participating Lender and are not affiliated with, endorsed by, or representing the Colorado Housing and Finance Authority. CHFA loans are originated through wholesale lenders that hold agreements with CHFA. This content is for informational purposes only. All loans subject to credit approval. Equal Housing Lender.