Down Payment Assistance Process

Applications must be received from the first mortgage Lender.  Please send in the initial application and CHAC will review and request any additional information required in order for a loan commitment to be completed.  Once you have received a commitment please allow at least a two week processing time before closing.  (Borrowers must be under contract and must complete a site based First Time Homebuyer class to submit an application) 

Initial Application:

  • Two page CHAC Information Sheet.All income information for ALL family members over 18 years old. Everyone in the household over the age of 18 MUST sign the form. (eligibility is based on all income to the household)
  • 1003 Application and Good Faith
  • Most recent Federal Tax Return
  • Two months of pay checks, and or a VOE, and documentation of all other income to the household (not just the person applying for the loan)
  • Credit Report - all collections must be paid and there should be no lates or collections paid in the last 6 months (6 months of clean credit)
  • First Time Homebuyer Class Certificate (Class must be completed before loan application). This MUST BE a site based class NOT the online class.

After CHAC reviews the application any additional information will be requested and if the borrower qualifies a commitment letter will be sent to the Lender. Please allow at least two weeks processing time from the time of commitment to closing.

Additional documentation will be needed to complete the file before closing.
The appropriate forms will be sent along with the commitment letter. 

A copy of:
  • The Appraisal
  • The distribution list, schedule A, legal and wiring instructions from Title
  • The inspection report - all health and safety issues must be repaired
  • Documentation that ALL health and safety issues have been cleared
  • A Visual inspection of painted surfaces indicating they are lead safe (for properties built prior to 1978)
  • Documentation that there are smoke detectors and carbon monoxide detectors correctly placed and functioning
  • The signed "Sellers Certificate of Purchase" Form (URA requirement)
  • A signed "Certificate of Compliance" from the borrower(s)
  • An Affidavit of legal residency from everyone in the household over 18 along with a picture ID
  • Attendance at the Borrowers class at CHAC or by phone as designated by CHAC (register for class on-line)
  • Additional documentation as required to complete the specific application

If you need assistance, please contact us at (303) 572-9445.

contact Us
Privacy Statement