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.
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.
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.
Summary of Colorado Housing and Finance Authority Lenders of 2021
| Lender | NerdWallet Rating | Minimum Credit Score | Minimum Down Payment | Learn More |
|---|---|---|---|---|
Best for online experience | 620 | 3% | at Guaranteed Rate | |
Best for veterans | 640 | 0% | at New American Funding | |
Best for FHA loans | 580 | 3.5% | at loanDepot | |
Best for online experience | 620 | 3% | at Fairway Independent Mortgage | |
Best for veterans | 580 | 0% | Read review | |
Best for FHA loans | N/A | 3.5% | Read review | |
Best for rural borrowers | 620 | 3% | Read review | |
Best for rural borrowers | 620 | 3% | Read review |
at Guaranteed Rate
at Guaranteed Rate
Min. Credit Score
620
Min. Down Payment
3%
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.
at New American Funding
at New American Funding
Min. Credit Score
640
Min. Down Payment
0%
Pros
- Uses manual underwriting to evaluate creditworthiness.
- Offers full online mortgage application, rate quotes, document upload and loan tracking.
Cons
- Mortgage rates offered to borrowers are higher than the government-reported median of all lenders.
at loanDepot
at loanDepot
Min. Credit Score
580
Min. Down Payment
3.5%
Pros
- Offers digital income, asset and employment verification.
- Offers multiple renovation loan options.
- Has over 200 affiliated loan stores nationwide 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.
at Fairway Independent Mortgage
at Fairway Independent Mortgage
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
580
Min. Down Payment
0%
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.
Min. Credit Score
N/A
Min. Down Payment
3.5%
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.
- Average interest rates and fees are higher than other lenders.
Min. Credit Score
620
Min. Down Payment
3%
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.
Min. Credit Score
620
Min. Down Payment
3%
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
- New applications for home equity lines of credit suspended during COVID-19 crisis.
- Government actions and scandals have damaged consumer trust in recent years.
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.
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.
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.
Offers many mortgage products, including construction loans.
Offers a digital mortgage application for desktop and mobile.
Has five branch locations in Colorado.
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
- Guaranteed Rate: Best for online experience
- New American Funding: Best for veterans
- loanDepot: Best for FHA loans
- Fairway Independent Mortgage: Best for online experience
- Caliber: Best for veterans
- Guild Mortgage: Best for FHA loans
- PrimeLending: Best for rural borrowers
- Wells Fargo: Best for rural borrowers
