The Colorado Housing and Finance Authority (CHFA) is offering a tax credit for up to 20 percent of the mortgage interest homeowners pay on their loan each year*. This can equal big savings for Colorado home buyers.
Here’s how it works:
- Buyers can claim up to 20 percent of paid mortgage interest each year as a tax credit on federal IRS tax returns
- Buyers must meet income and purchase price limits
- FICO score must be 580 or higher
- Purchase or refinances** of primary residences only
- First-time home buyers must not have owned a home as their primary residence for the past three years
Only a few of CHFA participating lenders and can work with buyers
and offer this program. We work closely with one of the largest independent residential retail mortgage lenders in the United States.
If you are interested in learning more about how the CHFA tax credit works, just ask me.