BEST OF

Colorado Housing and Finance Authority Lenders of 2021

NerdWallet is not affiliated with the Colorado Housing Finance Authority (CHFA) in any way. CHFA does not endorse or affirm the information on this page, including programs, rates or lender ratings. Availability and details of CHFA’s programs are subject to change at any time.

NerdWallet
Jan 21, 2021

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CHFA programs can help Colorado’s first-time home buyers purchase a house.

To access CHFA loans and financial assistance, you’ll need to use a participating lender. CHFA maintains a list of participating lenders on its website, but it does not endorse specific lenders.

NerdWallet has reviewed some CHFA lenders and listed our top choices in several categories. We’ve also listed a few CHFA lenders that aren’t rated by NerdWallet but originate many mortgages in Colorado.

» MORE: Explore CHFA loan programs and eligibility requirements

Colorado Housing and Finance Authority Lenders

Guaranteed Rate
Learn more

at Guaranteed Rate

Guaranteed Rate: NMLS#2611

4.5

NerdWallet rating 
Guaranteed Rate

Min. credit score

620

Min. down payment

3%
Learn more

at Guaranteed Rate

Why we like it

Good for: borrowers seeking conventional or government-backed loans, and a totally online experience.

Pros

  • Offers the ability to securely upload and digitally sign loan documents.

  • Displays detailed sample rates for many of its loan products.

Cons

  • Doesn't offer home equity loans or lines of credit.

Read Full Review
New American Funding
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at New American Funding

New American Funding: NMLS#6606

3.5

NerdWallet rating 
New American Funding

Min. credit score

500

Min. down payment

0%
Learn more

at New American Funding

Why we like it

Good for: borrowers who need to be evaluated on the basis of nontraditional credit and those interested in various down payment assistance programs.

Pros

  • Uses manual underwriting to evaluate creditworthiness, in some cases.

  • Offers full online mortgage application, rate quotes, document upload and loan tracking.

Cons

  • Mortgage origination fees tend to be on the high end, according to the latest federal data.

Read Full Review
loanDepot
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loanDepot: NMLS#174457

3.5

NerdWallet rating 
loanDepot

Min. credit score

580

Min. down payment

3.5%
Read review

Why we like it

Good for: borrowers looking to refinance or who want to start the application process online.

Pros

  • Offers digital income, asset and employment verification.

  • Offers multiple renovation loan options.

  • Has affiliated loan stores for customers who prefer face-to-face service.

Cons

  • Mortgage rates aren't available online; you'll need to contact a loan officer.

  • Does not offer home equity loans or lines of credit.

Read Full Review
Fairway Independent Mortgage
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at Fairway Independent Mortgage

Fairway Independent Mortgage: NMLS#2289

3.5

NerdWallet rating 
Fairway Independent Mortgage

Min. credit score

620

Min. down payment

3%
Learn more

at Fairway Independent Mortgage

Why we like it

Good for: borrowers who want access to a wide variety of mortgages and the convenience of a comprehensive mobile application process.

Pros

  • Offers a robust suite of loan products, including a variety of renovation loans.

  • Has a digital application that can be completed in 10 minutes.

  • Works with some state housing finance agencies to offer mortgages with down payment and closing cost assistance.

Cons

  • Mortgage rates aren't posted online.

  • Origination fees are on the high side and are not offset by low rates, according to the latest data.

Read Full Review
Caliber
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Caliber: NMLS#15622

3.0

NerdWallet rating 
Caliber

Min. credit score

580

Min. down payment

0%
Read review

Why we like it

Good for: first-time home buyers, veterans and those who may have credit challenges to overcome.

Pros

  • Offers extensive educational resources for military borrowers.

  • Provides digital tools for a streamlined application process.

  • Participates in some state down payment assistance and first-time home buyer programs.

Cons

  • No mortgage rates displayed online.

  • Doesn’t offer home equity loans or lines of credit.

Read Full Review
Guild Mortgage
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Guild Mortgage: NMLS#3274

4.0

NerdWallet rating 
Guild Mortgage

Min. credit score

N/A

Min. down payment

3.5%
Read review

Why we like it

Good for: borrowers who value customer service, and first-time home buyers and others who may need the flexibility of a low-down-payment loan program.

Pros

  • Offers multiple online conveniences, including a full mortgage application, e-signatures and digital loan process tracking.

  • Offers a wide variety of loan products, including home improvement and manufactured home loans.

Cons

  • Does not offer home equity loan products.

  • Origination fees tend to be on the higher end, according to the latest data.

Read Full Review
PrimeLending
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PrimeLending: NMLS#13649

3.5

NerdWallet rating 
PrimeLending

Min. credit score

620

Min. down payment

3%
Read review

Why we like it

Good for: borrowers looking for closing cost assistance, as well as those seeking to renovate or to build a new home.

Pros

  • Full online application includes document uploads and automated loan updates.

  • Offers a "float-down" interest rate lock.

  • Offers a proprietary closing-cost assistance program.

Cons

  • No online mortgage rates — you have to contact the lender for info.

  • Doesn't offer home equity products.

Read Full Review
Wells Fargo
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Wells Fargo: NMLS#399801

4.5

NerdWallet rating 
Wells Fargo

Min. credit score

620

Min. down payment

3%
Read review

Why we like it

Wells Fargo has a solid selection of mortgage products and offers easy-to-shop rates.

Pros

  • Provides numerous online conveniences, including loan application and process updates.

  • Current rates clearly posted for various loan products.

  • Offers a wide variety of loan types and products.

Cons

  • Home equity loans and lines of credit suspended due to COVID-19 are still unavailable.

  • Scandals and government actions have damaged consumer trust in recent years.

  • No home improvement loans offered.

Read Full Review

More CHFA participating lenders

These CHFA lenders are among the highest-volume mortgage providers in Colorado, but they haven’t yet been reviewed by NerdWallet.

Cherry Creek Mortgage

  • Has special loan programs for first-time home buyers, Native Americans and union members.

  • Finances new construction and renovations.

  • Has more than 20 branch locations in Colorado.

Elevations Credit Union

  • Offers a wide variety of loans, including FHA, VA, USDA and jumbo.

  • Displays interest rates online for all of its mortgage products.

  • Has more than a dozen branch locations in Colorado.

Citywide Home Loans

  • Offers many mortgage products, including construction loans.

  • Offers a digital mortgage application for desktop and mobile.

  • Has five branch locations in Colorado.

Academy Mortgage

  • Offers government loans and conventional mortgages.

  • Provides a mobile app borrowers can use to apply for a loan.

  • Has more than 20 branch locations in Colorado.

More from NerdWallet:

Last updated on January 21, 2021

Methodology

NerdWallet's star ratings for mortgage lenders are awarded based on our evaluation of the products and services each lender offers to consumers who are actively shopping for the best mortgage. The five key areas we evaluated include the variety of loan types and products offered, online conveniences, online mortgage rate information, and the rate spread and origination fee lenders reported in the latest available Home Mortgage Disclosure Act data. To ensure consistency, our ratings are reviewed by multiple people on the NerdWallet Mortgages team.

To recap our selections...

NerdWallet's Colorado Housing and Finance Authority Lenders of 2021