Programs

CHFA Schools to Home: Down Payment Help for Colorado School Employees

By Matt Wentz · August 10, 2026

If you teach in a Colorado classroom — or drive the bus, run the front office, coach, or keep the building running — there is a home loan program built specifically for you. The CHFA Schools to Home program was created by the Colorado General Assembly to help public school employees buy homes in the communities where they work.

Here is the plain-English version: how it works, who qualifies, and how to check your school in seconds.

What is CHFA Schools to Home?

Schools to Home is a down payment assistance program from the Colorado Housing and Finance Authority (CHFA), funded through the state's Public School Permanent Fund. It pairs a normal fixed-rate first mortgage with a second mortgage for down payment and/or closing-cost help — so you can get into a home with far less cash out of pocket.

The headline: assistance of up to 25% of your first mortgage loan amount. On a $400,000 loan, that is up to $100,000 toward your down payment, closing costs, prepaids, or a principal reduction.

Who counts as a "public school employee"?

You do not have to be a teacher. Schools to Home is for any full-time employee of a Colorado preK–12 public school, school district, charter school, BOCES, or innovation zone — paras, bus drivers, custodians, front-office and food-service staff, counselors, coaches, IT, administration. And if you are buying with a spouse or partner who does not work for a school, that is fine: only one borrower on the loan needs to be the full-time school employee.

Is your school on the list?

Search your school, district, or county. If it shows up here, your employer qualifies you for CHFA Schools to Home. Only one borrower on the loan needs to work for the school.

1,871 Colorado public schools · 186 districts · source: CDE building codes 2026–27. Don't see yours, or work for a charter, BOCES, or innovation zone? You may still qualify — reach out.

A real-world example

Buying a $450,000 home with Schools to Home

Home price

$450,000

Your money down

$0*

First mortgage

$360,000

CHFA 2nd · no payment

$90,000

Your help ($90,000) equals 20% of the price — so that's the share of future appreciation you'll give back to the fund. You keep the other 80%.

If the home grows to $547,494 in ~5 years (illustrative, ~4%/yr)

Equity YOU keep from appreciation

$77,995

80% of the $97,494 gain

Shared with the fund

$19,499

20% of the gain, paid at sale/refi

*You still cover items like earnest money and prepaids; the 2nd covers down payment and eligible closing costs, up to 25% of the first mortgage. The bottom line: you build roughly $77,995 in appreciation equity with $0 down — access that would otherwise take $90,000 up front. In a flat or declining market, the shared-appreciation payment is $0. Figures illustrative; actual appreciation varies and is not guaranteed.

The part people miss

Your monthly payment is lower, too

Because the assistance gets you to 20% equity, you finance a smaller first mortgage and skip monthly mortgage insurance entirely. Same $450,000 home, same 6.875% rate:

Typical 5%-down loan

$2,986/mo

$2,808 P&I on a $427,500 loan
+ $178 mortgage insurance

With Schools to Home

$2,365/mo

$2,365 P&I on a $360,000 first mortgage
+ $0 mortgage insurance

You pay $622/mo less
$443 lower P&I + $178 no mortgage insurance — about $7,464 a year

Illustrative, 30-yr fixed at 6.875%; mortgage insurance estimated at ~0.5%/yr on the 5%-down comparison. Your rate, MI, taxes, and insurance vary. The second mortgage (the assistance) has no monthly payment.

How the down payment help works

The assistance is a second mortgage with no monthly payment. You don't pay it back month to month — it's deferred until you pay off or refinance the first mortgage, sell the home, or it stops being your primary residence.

One feature makes Schools to Home distinctive: shared appreciation. When the assistance eventually comes due, you repay the second mortgage plus a share of the home's appreciation back to the Public School Permanent Fund — the same fund that made your purchase possible. We'll walk you through exactly what that looks like for your price range before you commit to anything.

What you'll need to qualify

Income: household income at or below $178,920
Credit score: 620 or higher
Loan type: Fannie Mae conventional (30-year fixed)
Primary residence only
Eligible properties: single-family (1-unit), PUDs, condos, and double-wide manufactured homes
First-time buyer? Not required
Homebuyer education: a CHFA-approved class plus the program's "Understanding Your Financial Commitment" course

Found out you qualify? Now find the home.

Once you know Schools to Home is on the table, use our home search to shop listings and filter by school district — so you can stay in the community where you already work and find homes that fit the program. Knowing your buying power and your district in one place makes the whole search a lot less stressful.

How to get started

Schools to Home is only offered through CHFA participating lenders, and the process starts with a conversation, not an application. At Speak Straight Mortgage we'll confirm your employer is eligible, run your numbers against the guidelines, show you exactly how the assistance and shared appreciation would work for the homes you're considering, and get you signed up for the required education so you're ready to move when you find the right place.

Real talk, real numbers, real results. If you work for a Colorado school and you've wondered whether homeownership is realistic, let's find out together.

Frequently Asked Questions

What is the CHFA Schools to Home program?

CHFA Schools to Home is a Colorado down payment assistance program created for full-time public-school employees. It pairs a fixed-rate first mortgage with a deferred second mortgage of up to 25% of your first loan amount to help cover your down payment and closing costs. The assistance has no monthly payment.

Who qualifies as a Colorado public-school employee?

Any full-time employee of a Colorado public preK-12 school, school district, charter or institute charter school, BOCES, or innovation zone qualifies — not just teachers. Custodians, paraprofessionals, bus drivers, administrative and office staff, counselors, coaches, food-service and IT staff all count. Only one borrower on the loan needs to be the full-time school employee.

Do you have to be a first-time home buyer to use Schools to Home?

No. There is no first-time-buyer requirement. You can use CHFA Schools to Home even if you have owned a home before, as long as the home you are buying will be your primary residence.

How much down payment help can a Colorado teacher get?

The assistance can be up to 25% of your first mortgage amount. On a $400,000 loan that is up to $100,000 toward your down payment, closing costs, prepaids, or reducing principal. Many buyers use it to put more down and eliminate mortgage insurance.

Do I have to pay the down payment assistance back?

There is no monthly payment. The second mortgage is deferred until you sell the home, refinance or pay off your first mortgage, the home stops being your primary residence, or the loan term ends. When it comes due you repay the assistance plus a share of the home's appreciation, which goes back to Colorado's Public School Permanent Fund. We show you exactly what that looks like for your price range before you commit.

What are the income and credit requirements for Schools to Home?

Household income must be at or below $178,920, and the minimum credit score is 620. The program uses a Fannie Mae conventional 30-year fixed first mortgage on a primary residence. Eligible properties include single-family homes, PUDs, condos, and double-wide manufactured homes. Borrowers complete a CHFA-approved homebuyer education class plus the program's financial-commitment course.

Is CHFA Schools to Home only for teachers?

No — this is the biggest misconception. Any full-time Colorado public-school employee is eligible, including support and operations staff. If you work full-time for an eligible Colorado school employer, you very likely qualify.

See if your school qualifies

Answer a few quick questions about your situation — no credit pull, no pressure. We'll confirm your eligibility for CHFA Schools to Home and map out your options.

Check my eligibility