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What Is the CHFA Schools-to-Home Program?
Schools-to-Home was created by Senate Bill 25-167, bipartisan legislation signed by Governor Jared Polis on June 4, 2025. The bill directs the Colorado Housing and Finance Authority (CHFA) to build and manage a shared appreciation down payment assistance program for public school employees, funded by investments from the Public School Permanent Fund (PSPF) — the state's intergenerational trust fund that supports K-12 education.
The idea is simple and powerful: Colorado's school employees often have the steady income to afford a monthly mortgage payment, but the upfront cash — down payment plus closing costs — keeps them renting. Schools-to-Home removes that barrier so educators can own homes in the communities where they teach, coach, drive buses, and run front offices.
Lawmakers project the program will unlock at least $100 million in assistance by 2028 and $200 million by 2030, with first-time homebuyers prioritized.
How Much Down Payment Assistance Do You Get?
The program pairs two loans:
- A fixed-rate CHFA first mortgage — your primary home loan with a stable, predictable payment.
- A second mortgage loan for up to 25% of your first mortgage amount — used for down payment and/or closing costs.
For perspective, CHFA's standard down payment assistance tops out at 3% (grant) or 4% (second mortgage), capped at $25,000. Schools-to-Home is in a completely different league:
| First Mortgage Amount | Maximum Schools-to-Home Assistance (25%) | Standard CHFA DPA (capped at $25,000) |
|---|---|---|
| $350,000 | Up to $87,500 | $14,000 |
| $425,000 | Up to $106,250 | $17,000 |
| $480,000 | Up to $120,000 | $19,200 |
| $550,000 | Up to $137,500 | $22,000 |
Assistance of this size can do more than cover a down payment — it can substantially lower your loan-to-value ratio, which may reduce or eliminate mortgage insurance and shrink your monthly payment. That's the difference between "barely qualifying" and buying with real strength.
The Trade-Off: How Shared Appreciation Works
Schools-to-Home is not a grant, and it's not free money. Here's the deal in plain language:
- You receive a second mortgage loan for up to 25% of your first mortgage.
- You make no monthly payments on it. Repayment is deferred until the end of the loan term or an earlier triggering event: you pay off the first mortgage, sell the home, refinance, or stop using it as your primary residence.
- When repayment comes due, you repay the second mortgage balance plus a percentage of the appreciation your home gained — which goes back to the Public School Permanent Fund, keeping the program funded for the next generation of educators.
Think of the PSPF as a silent partner in your home's growth. You get six figures of buying power today; the fund shares in a slice of your upside tomorrow. For many school employees, owning and building most of the equity beats renting and building none of it.
Because this structure is more complex than a typical loan, CHFA requires a program-specific course called "Understanding Your Financial Commitment" in addition to the standard CHFA-approved homebuyer education class. Both must be completed to use the program. Read our full shared appreciation explainer
Who Qualifies for CHFA Schools-to-Home?
This program is much bigger than "teachers only." You qualify if you are a full-time employee (as classified by your employer) of any of the following Colorado entities:
- A Colorado public school
- A school district
- A charter school
- An institute charter school
- A Board of Cooperative Educational Services (BOCES)
- An innovation zone
That means teachers, principals, paraprofessionals, counselors, school nurses, custodians, bus drivers, cafeteria workers, front office staff, IT staff, coaches, and district administrators can all potentially qualify — as long as they're classified full-time. You can verify whether your employer is eligible through the Colorado Department of Education's SchoolView directory. See our complete eligibility guide
Key detail for couples and co-buyers: if multiple borrowers are on the loan, only one of you needs to be a full-time public school employee. A teacher married to a nurse, an electrician, or anyone else? You're still in.
General CHFA Loan Requirements
Schools-to-Home runs through CHFA's existing lending framework, so expect the standard CHFA qualifications to apply, including:
- A minimum credit score (CHFA programs typically require 620+)
- A minimum $1,000 contribution from the borrower toward the purchase
- CHFA income limits for your program and household
- The home must be your primary residence
- Completion of a CHFA-approved homebuyer education class
- Completion of the "Understanding Your Financial Commitment" course
- Working with a CHFA Participating Lender — CHFA doesn't lend directly to consumers
Final program-specific details — including exact appreciation-share percentages, income limits, and reservation procedures — will be published by CHFA at launch. The Kenna Real Estate Group is tracking every update and will keep this page current.
When Does Schools-to-Home Launch?
CHFA has announced a July 2026 launch. If you're a Colorado school employee thinking about buying, the smartest move you can make right now is getting your ducks in a row before the doors open:
- Check your credit and address any issues now — you'll want to be at 620 or better.
- Complete homebuyer education early. It's required anyway, and completing it ahead of launch puts you at the front of the line.
- Gather employment documentation proving full-time status with your school or district.
- Talk to a CHFA Participating Lender to get pre-qualified under CHFA's general guidelines.
- Connect with a real estate team that knows this program inside and out — that's where we come in.
Ready to get your Schools-to-Home game plan?
July 2026 is around the corner. The buyers who win are the ones whose paperwork is done before the program opens — not the ones who start Googling on launch day.
Call: (303) 955-4220Schools-to-Home vs. Other Educator Home Buying Programs
| Program | Assistance | Repayment | Who Qualifies |
|---|---|---|---|
| CHFA Schools-to-Home | Up to 25% of first mortgage | Deferred; repay loan + share of appreciation | Full-time CO public school employees |
| CHFA DPA Grant | Up to 3% / $25,000 max | None — it's a grant | Any eligible CHFA borrower |
| CHFA DPA Second Mortgage | Up to 4% / $25,000 max | Deferred, no appreciation share | Any eligible CHFA borrower |
| metroDPA | Percentage of loan amount | 0% interest, 30-yr deferred | Front Range buyers within income limits |
| Good Neighbor Next Door (HUD) | 50% off list price | 3-year residency requirement | Teachers buying in HUD revitalization areas |
For most Colorado school employees who plan to stay put, Schools-to-Home will deliver dramatically more buying power than anything else on this list. The shared appreciation trade-off is the price of admission — and whether it's the right trade for you depends on your timeline, your market, and your goals. That's a conversation worth having with someone who runs the numbers honestly.
Frequently Asked QuestionsNo. It's a second mortgage loan with a shared appreciation component. You make no monthly payments, but the loan plus a percentage of your home's appreciation is repaid when you sell, refinance, pay off your first mortgage, or move out.
No. Any full-time employee of a Colorado public school, school district, charter school, institute charter school, BOCES, or innovation zone is eligible — including classified staff like bus drivers, custodians, paraprofessionals, and office personnel. See the full eligibility guide
The enabling legislation prioritizes first-time homebuyers, and CHFA will publish final eligibility rules at launch. If you've owned before, talk to a CHFA Participating Lender about where you stand.
Yes. Only one borrower on the loan needs to be a full-time public school employee. Teacher + nurse, custodian + contractor, principal + accountant — all combinations work.
CHFA will publish the exact appreciation-share structure at launch. The required "Understanding Your Financial Commitment" course walks through the math in detail before you commit. We'll update this page the moment final terms are released. Read our full shared appreciation explainer →
The program launches in July 2026. You can prepare now by completing homebuyer education, checking your credit, and getting pre-qualified with a CHFA Participating Lender. Contact us for a free readiness consultation.
Yes — it's a statewide CHFA program, from Fort Collins to Colorado Springs and everywhere in between. The home must be your primary residence. You are not required to buy within your employer's district boundaries.
The appreciation share applies only to appreciation gained. CHFA's required financial commitment course covers exactly how repayment works in flat or down markets — and we'll break down those scenarios on this page once final program documents are public.
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Complete Schools-to-Home Resource Library
- Who Qualifies for CHFA Schools-to-Home? The Eligibility Guide Every eligible role explained — teachers, paras, bus drivers, custodians, BOCES staff, and more.
- What Is Shared Appreciation? The Trade-Off Explained Honestly The straight math on what you get, what you give up, and when it makes sense.
- Colorado School Employees Can Get Up to 25% Down Payment Assistance The announcement breakdown: where the program came from and what to do before launch.
- Teacher Homebuying Programs in Colorado: Every Option Explained How Schools-to-Home compares to CHFA grants, metroDPA, Good Neighbor Next Door, and more.
- Why Kenna Is Colorado's #1 Schools-to-Home Expert Team Our track record, our approach, and why preparation before launch day is everything.
Brian Lee Burke, E-PRO®, REALTOR® Broker
Owner & Founder, Kenna Real Estate | "The Hardworking Man in Real Estate"Brian Lee Burke is a licensed REALTOR® Broker, owner of Kenna Real Estate, and one of Colorado's most experienced real estate professionals. Licensed since 2002, Brian has spent more than two decades helping hundreds of buyers, sellers, investors, and relocating families successfully navigate the Colorado real estate market.
What sets Brian apart is his comprehensive understanding of the entire real estate process. His expertise extends beyond traditional brokerage services into pricing strategy, negotiations, construction, appraisal, and mortgage-related considerations, allowing him to guide clients through even the most complex transactions with confidence.
Known as "The Hardworking Man in Real Estate," Brian believes every client deserves honest advice, exceptional service, and an advocate who puts their goals first. Whether helping a first-time homebuyer, assisting a growing family, or advising a long-time homeowner, Brian focuses on creating long-term relationships built on trust and results.
Through Kenna Real Estate, Brian provides full-service real estate support across the Denver Metro area and throughout Colorado, backed by a network of agents serving communities from Fort Collins and Boulder to Denver, Castle Rock, Colorado Springs, Grand Junction, and beyond.
For school employees considering the CHFA Schools-to-Home Program, Brian's deep understanding of financing options, home values, and Colorado market conditions provides valuable guidance when evaluating one of the largest down payment assistance opportunities ever offered in the state.
Disclosure: Program details are based on information published by CHFA and the Colorado General Assembly as of June 2026 and are subject to change. CHFA Schools-to-Home launches July 2026; final terms, income limits, and appreciation-share percentages will be set by CHFA. This page is for informational purposes and is not lending advice. CHFA loans are made through CHFA Participating Lenders. The Kenna Real Estate Group is a licensed Colorado real estate team with Keller Williams DTC. The Kenna Real Estate Group · Keller Williams DTC · (303) 955-4220 · [email protected] kennarealestate.com · Serving Colorado school employees from Fort Collins to Colorado Springs "Helping You Find Your Pad™"
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