chfa jumpstart
fi nancing the places where
people live and work
The Colorado Housing and Finance Authority does not discriminate
on the basis of disability in admission or access to the operation of
its programs, services, activities or its own employment practices.
Requests for reasonable accommodation, the provision of auxiliary aids
or any complaints alleging violation of this nondiscrimination policy
should be directed to Pamela McClune, Nondiscrimination Coordinator,
303.297.7366, TDD 303.297.7305, CHFA, 1981 Blake Street, Denver,
CO 80202-1272, available weekdays, 8:00am to 5:00pm.
CHFA Home Finance
1981 Blake Street
Denver, Colorado 80202
888.320.3688
303.297.7305 tdd
348 Main Street
Grand Junction, Colorado 81501
800.877.8450
970.241.2341
www.chfainfo.com
Equal Housing Opportunity Lender
rev. 4/09
Take advantage of the Federal First-Time Homebuyer Tax
Credit Program by using the CHFA JumpStart program
for down payment and/or closing cost assistance. Repay
this zero percent (0%) second mortgage loan when you
get your tax credit refund.
here’s how it works
• If you are a fi rst time homebuyer* who purchases a
home on or after January 1, 2009, and closes before
December 1, 2009, you may receive a federal tax
credit refund of up to $8,000.
• If you qualify, the CHFA JumpStart second
mortgage loan can be used for down payment
and/or closing cost assistance. The CHFA JumpStart
second mortgage loan is for the lesser of 3.5
percent of the fi rst mortgage loan or $6,000. There
is an administrative fee of $350.
• Once you receive the federal tax credit, use it to
pay off the CHFA JumpStart second mortgage loan.
If it is paid off before June 30, 2010, $250 of the
administrative fee will be applied to your payoff
balance. If you do not pay off the loan before that
date, you will not get the refund, and the interest
rate on the loan increases to 8 percent with a 10-
year repayment term.
You may receive a refund that is greater than the CHFA
JumpStart second mortgage; you can pay back this