.jpg){kind=avatar}
New - 3 Hours Ago
$495,000
Coming Soon
4
Beds
4
Baths
2677
Sqft
0.1326
Acres
3640 Birnamwood Dr, Colorado Springs, CO 80920
MLS#: 3165557
25%
of first mortgage
$0
2nd mortgage payment
No
separate purchase price limit
$178,920
income limit
$1,000
minimum contribution
The short version
CHFA Schools To Home is a Colorado down payment assistance program for full-time public school employees, and Fountain-Fort Carson School District 8 employees are eligible. If you work full time for the district, you can pair a 30-year fixed first mortgage with a deferred second mortgage worth up to 25% of that first mortgage amount — assistance with no monthly payment, usable toward a home in Fountain or elsewhere in Colorado.
On this page
- What Schools To Home actually is
- Who qualifies at Fountain-Fort Carson D8
- The military spouse co-borrower angle
- How much assistance can you receive
- Shared appreciation, explained plainly
- Fountain and the area near Fort Carson
- What kind of homes qualify
- When Schools To Home is the wrong move
- How to get started
- Where to go next
- Quick answers
What Schools To Home actually is
Schools To Home came out of Colorado legislation funded through the Public School Permanent Fund and launched by the Colorado Housing and Finance Authority in 2026. It pairs a standard 30-year fixed-rate first mortgage with an optional second mortgage of up to 25% of the first mortgage amount, at zero percent interest with no monthly payment while it remains outstanding.
The assistance applies toward:
It is not free money. The second mortgage is a real loan with a real repayment obligation. You do not pay monthly on it, but you owe the original assistance amount plus a share of your home's appreciation when the loan comes due — at sale, refinance, payoff of the first mortgage, or if the home stops being your primary residence.
Who qualifies at Fountain-Fort Carson D8
At least one borrower on the loan must be classified full time by an eligible Colorado public school employer. Job title does not decide eligibility; employment classification does. Eligible Fountain-Fort Carson D8 roles include classroom and special education teachers, paraprofessionals, counselors and nurses, front office and registrar staff, custodial and maintenance workers, nutrition services staff, bus drivers and mechanics, coaches, and administrative, IT, HR, and finance staff.
Verify your employer through the Colorado Department of Education's SchoolView database, which needs to list "Public" in the School Type column for Fountain-Fort Carson School District 8.
You do not have to be a first-time buyer. You do not have to buy inside the district's boundaries — eligibility comes from your employment, not your address, so a Fountain-Fort Carson D8 employee can buy in Fountain, elsewhere in the Colorado Springs area, or anywhere else in Colorado.
The military spouse co-borrower angle
Fountain-Fort Carson D8 sits next to Fort Carson, one of Colorado's largest military installations, and a meaningful share of the district's staff are married to active-duty service members. Only one borrower needs to be the eligible full-time district employee. Their spouse, including an active-duty member, can co-borrow without meeting any employment requirement themselves, though their income, credit, and debt still factor into underwriting.
Schools To Home is not a VA loan program — it pairs with conventional Fannie Mae financing, not VA-assured financing. Active-duty or veteran status does not by itself create eligibility; the district employment does.
If a PCS move within a few years is a real possibility, weigh that against the short-hold considerations below, since a short hold does not build much equity to absorb the CHFA repayment.
Find Out If You Can Buy with as Little as $1,000 Cash to Close
No cost. No commitment. Just an honest answer about whether Schools to Home — or something better — fits your situation.
Call or Text 303-955-4220 Email UsHow much assistance can you receive
The 25% figure applies to the first mortgage amount, not the purchase price. On a $310,000 home with a $248,000 first mortgage, the maximum second mortgage is 25% of $248,000, or $62,000.
Structure A — Zero Down, No PMI
| Purchase price | $310,000 |
| First mortgage (80% LTV) | $248,000 |
| Schools To Home second | $62,000 |
| Buyer down payment | $0 |
| PMI | None |
Higher First Mortgage / More Assistance
A higher first-mortgage structure can provide more total assistance but adds mortgage insurance above 80% loan-to-value. A CHFA participating lender can price both structures side by side against your specific numbers.
The $1,000 minimum contribution:
The minimum required borrower contribution is $1,000, which can be a gift. Your actual cash-to-close can still be higher once closing costs, prepaid expenses, escrows, lender fees, and earnest money are included.
Other key numbers:
- Minimum mid-credit score: 620
- No separate purchase price limit
- Statewide income limit: $178,920
- Income limit applies regardless of county or household size
Shared appreciation, explained plainly
When the second mortgage comes due, you repay the original assistance amount plus a share of your home's appreciation, calculated under CHFA's program documents based on the amount of assistance you received.
If your home loses value, negative appreciation is treated as zero — you still owe the original assistance, but never a share of a loss.
Ask your CHFA participating lender to run the specific shared-appreciation calculation for your loan before you rely on any example.
Fountain and the area near Fort Carson
Fountain sits along the I-25 corridor south of Colorado Springs, with a mix of established neighborhoods and newer development. Housing near Fort Carson sees regular turnover tied to duty station changes.
Before you make an offer, check:
HOA & Metro Districts
Some newer Fountain subdivisions carry HOA dues and may sit inside metro districts that add to property taxes.
Some newer Fountain subdivisions carry HOA dues and may sit inside metro districts that add to property taxes.
District Boundaries
South Colorado Springs is served by more than one district. Confirm the specific address before assuming it matches your employer's district.
South Colorado Springs is served by more than one district. Confirm the specific address before assuming it matches your employer's district.
Full Appraisal
This program requires a full appraisal with no waiver, so get fully pre-approved before shopping competitively.
This program requires a full appraisal with no waiver, so get fully pre-approved before shopping competitively.
Fort Carson Access
Housing activity near Fort Carson can be influenced by military assignments and household moves.
Housing activity near Fort Carson can be influenced by military assignments and household moves.
What kind of homes qualify
- Single-family homes, attached or detached
- Planned unit developments
- Condominiums
- Modular homes
- Manufactured housing on a permanent foundation, subject to Fannie Mae guidelines
What about a duplex? A typical duplex does not qualify because the program is built around one-unit, owner-occupied properties. Confirm unusual property types with your lender before writing an offer.
When Schools To Home is the wrong move
You expect to move within three years, including for a PCS order.
You already have a substantial down payment saved.
You plan to convert the home into a rental later.
You are planning a major renovation and would share appreciation on the value created.
How to get started
- Confirm your employer shows “Public” in the School Type column on CDE SchoolView for Fountain-Fort Carson School District 8.
- Confirm your full-time classification with HR or payroll in writing.
- Talk to a CHFA participating lender experienced with Schools To Home.
- Get a full underwritten pre-approval rather than a pre-qualification letter.
- Complete both required CHFA homebuyer education courses while you shop.
- For financing questions beyond this program, the Kenna Real Estate Group works with Mike Oswald at Rate (NMLS 261003, Equal Housing Lender), while you remain free to use any CHFA participating lender.
Where to go next
Continue exploring CHFA Schools To Home, mortgage readiness, and Colorado homes with these related resources:
CHFA Schools To Home Colorado: Every District Guide Who qualifies for CHFA Schools-to-Home D11 Schools To Home: Colorado Springs DPA Kenna Credit Care mortgage readiness Colorado mortgage pre-approval guide Search every home for sale in Colorado
Talk to a Fountain-Fort Carson Schools To Home Specialist
If you work full time for Fountain-Fort Carson School District 8, we can help you understand the program, connect with a CHFA participating lender, and compare your financing options before you shop.
Call or Text 303-955-4220 Search Colorado HomesQuick answers
More Colorado Schools To Home Guides
Explore our Colorado Schools To Home guides by school district. Start with the statewide hub below, then choose your district or explore the BOCES and smaller-district roundup.
CHFA Schools To Home Colorado: Every District Guide
The complete Colorado Schools To Home hub with district-by-district guides, eligibility information, and resources for public school employees.
| Denver Public Schools
CHFA Schools To Home guide for Denver Public Schools employees. |
Douglas County RE-1
Schools To Home information for Douglas County employees. |
Aurora (Adams-Arapahoe 28J)
Aurora Schools To Home down payment assistance guide. |
| Adams 12 Five Star
CHFA Schools To Home guide for Adams 12 employees. |
St. Vrain Valley
Down payment assistance information for St. Vrain employees. |
Poudre School District
Poudre Schools To Home district guide. |
| Boulder Valley
Boulder Valley Schools To Home assistance guide. |
District 49 (Falcon)
District 49 Schools To Home guide. |
Academy District 20
Academy 20 CHFA down payment assistance guide. |
| School District 27J
Brighton-area Schools To Home district guide. |
Greeley-Evans 6
Greeley-Evans Schools To Home assistance guide. |
Colorado Springs D11
Colorado Springs District 11 Schools To Home guide. |
| Colorado Charter School Institute
CHFA Schools To Home guide for eligible CSI charter employees. |
Thompson School District
Loveland and Thompson Schools To Home guide. |
Pueblo City Schools
Pueblo District 60 Schools To Home guide. |
| Littleton Public Schools
Littleton Schools To Home down payment guide. |
Harrison District 2
Harrison D2 Schools To Home guide for southeast Colorado Springs. |
Widefield District 3
Widefield Schools To Home and south Colorado Springs DPA guide. |
| Weld RE-4
Windsor and Severance Schools To Home guide. |
Fountain-Fort Carson District 8 — You're Here
You're currently reading the Fountain-Fort Carson Schools To Home DPA guide. |
Westminster Public Schools
Westminster Schools To Home down payment guide. |
| 50 BOCES + Small Districts Roundup
A roundup covering BOCES and smaller Colorado public school employers. |
Jeffco Public Schools
Jefferson County Schools To Home guide. |
Return to the Colorado Schools To Home Hub
Browse the complete statewide collection. |
Program details summarized here are based on the Colorado Housing and Finance Authority (CHFA) Schools To Home program information supplied for this article and are subject to change. This article is for general informational purposes only and is not a commitment to lend, an offer of credit, or a guarantee of eligibility, terms, or assistance amounts. Verify current requirements, income limits, loan limits, credit requirements, education requirements, loan structure, and shared appreciation terms with CHFA and a CHFA participating lender. The Kenna Real Estate Group is a group of real estate brokers at Keller Williams Realty DTC, LLC and does not originate loans. Equal Housing Opportunity.
Homes for sale that match this post
- Down payment assistance: guide
- Monthly payment: guide
- Closing costs: guide
- VA loan: guide
- HOA Rules and Fees Guide in Fountain
- Property Taxes Guide in Fountain
- All homes for sale in Fountain
Guides
Questions about any home in Colorado? Call or text 303-955-4220. A live person answers.
