chfa monthly impact report
January Report: Data from January 1 to December 31, 2024
CHFA strengthens Colorado by investing in affordable housing and community development. CHFA’s work supports communities and creates jobs. We are proud to invest in Colorado’s success.
This monthly report provides a year-to-date snapshot of CHFA’s investments to support affordable housing and community development throughout Colorado, along with related narratives and analyses.
Please click here for a printable PDF version of this month’s report.
CHFA
Homeownership
Rental Housing
Business Lending
Community Partnerships
homeownership
5,291
Total homeowners served with loans
2024 Homeownership Highlights
As homebuyers faced challenging market conditions throughout the year, CHFA’s investment in homeownership programs remained strong, offering competitive rates and down payment assistance. CHFA also continued its initiatives to support Black and African American homeownership and other underserved communities through the launch of the CHFA FirstGeneration programs, hosting four in-community homebuyer workshops and completing a pilot financial education series.
CHFA remained committed to serving participating lenders through the launch of its on-demand lender training video series, which covers frequently asked questions and important topics for lenders supporting prospective CHFA homeownership customers. Additionally, at this year’s Housing Colorado Eagle Awards, CHFA’s Home Finance Division received an Eagle Award for its efforts administering Colorado’s Rent Reporting for Credit Pilot Program. A report provided by CHFA to the Colorado General Assembly in June 2024 indicated that the average tenant credit score increased 62 points during the program.
$1,934,937,609
First Mortgage Loans
$801,024
Down Payment
Assistance Grants
$75,988,191
Down Payment
Assistance Seconds
7,900
Homebuyer Education
Customers Served
Customers
$368,207
Median Loan Amount
694
Median Credit Score
$100,467
Median Income
129%
Median AMI
92%
First-time Homebuyers
rental housing
5,502
Units supported with loans, PAB, and/or Housing Tax Credits
2024 Rental Housing Highlights
In 2024, CHFA saw the highest number of multifamily loan commitments in its history, totaling $314.4 million, as well as the largest multifamily loan in CHFA’s history. Additionally, the U.S. Department of the Treasury awarded CHFA a $4.5 million Capital Magnet Fund (CMF) grant to support the preservation and construction of affordable multifamily rental housing in Colorado.
CHFA’s Housing Tax Credit team worked diligently to begin deploying the expanded and strengthened state Affordable Housing Tax Credit resources authorized by the Colorado General Assembly, pairing state credit with both the federal 9 percent Housing Tax Credit and federal 4 percent Housing Tax Credit. The team also worked in partnership with stakeholders to develop allocation plans for the newly created Transit-oriented Communities Credit and Middle-income Housing Tax Credit programs, which will begin deployment in 2025.
58
Total Developments Supported
$484,579,253
Total Loan Production
$314,408,591
Multifamily Loan Commitments
Customers
4,232
Individual/Family Housing Units
468
Supportive Housing Units
745
Older Adult Units
28
Special Population Units
611
Preservation Units
15
Veteran Units
719
Rural Housing Units
business lending
582
Total businesses served
2024 Business Finance Highlights
CHFA’s business finance investments set a record in 2024, totaling more than $161 million in production across CHFA’s business lending programs. This is the highest one-year production total in CHFA’s history, breaking last year’s record of $120 million. Throughout the year, CHFA’s investments supported 582 businesses and impacted 3,955 jobs.
In addition, CHFA received a $65 million New Markets Tax Credit (NMTC) award from the U.S. Department of the Treasury to support economic investment in underserved neighborhoods and communities. The $65 million award marks the sixth consecutive year that CHFA has received NMTCs, and ties last year’s record for the largest one-year allocation in CHFA’s history.
3,955
Total Jobs Impacted
$161,652,521
Dollars Invested
Customers
35%
Women-owned
44%
Minority-owned
17%
Women- and
Minority-owned
$35,000
Median Loan Amount
community partnerships
560
Organizations supported
2024 Community Partnerships Highlights
In December, CHFA announced its Round Two 2024 Direct Effect Award recipients. Across two Direct Effect Award rounds in 2024, CHFA was proud to provide a total of $2,818,000 to support 217 Colorado nonprofits whose missions align with CHFA’s work, all-time records for the program. In celebration of CHFA’s 50th anniversary, 10 $50,000 awards were made to applicants demonstrating an exceptional alignment with CHFA’s mission.
CHFA was also proud to invest in The University of Denver’s Executive Certificate in Affordable Housing program and Metro State University’s Affordable Housing Institute. The programs will provide opportunities for students to learn directly from some of Colorado’s experienced affordable housing experts, laying the foundation for careers in areas such as affordable housing finance, property management, and resident services, and providing reskill opportunities for professionals seeking entry into the affordable housing industry.
$7,508,857
Total Giving
$3,950,984
Corporate Giving
(direct and in-kind)
$2,052,741
Regional Community
Investment Grants
$1,501,932
Technical Assistance
1,139
Staff Community Involvement Leave
and Day of Service Hours
1,849
Technical Assistance Hours
$3,200
Staff Donation Drives
and Giving and Match
spotlight
Celebrating 50 Years of Strengthening Colorado
In December, CHFA hosted a celebratory 50th anniversary gala, capping off a year-long campaign highlighting CHFA’s investments to meet community needs over the course of five decades, and celebrating the partnerships that have supported CHFA in its work to fulfill its mission and vision. At the gala, some of CHFA’s Direct Effect Award recipients were presented with a commemorative plaque to celebrate their work and ongoing partnership with CHFA.
Introducing The Buildout Podcast
CHFA is proud to introduce The Buildout podcast. Over the course of eight episodes in Season One, The Buildout will take listeners across Colorado: from Front Range cities to resort towns to rural communities; from homelessness to homeownership; to the collaborations and innovations to build and preserve affordable housing. Episodes are available on Spotify, Apple, Amazon and other major platforms as well as at chfainfo.com/buildout.
CHFA Co-hosts Preservation Summit
The Colorado Affordable Housing Preservation Summit, co-hosted by CHFA and Enterprise Community Partners, was held in Denver in December. The event convened a diverse set of partners to support collaborative preservation efforts in Colorado. Participants engaged in developing targeted solutions for housing preservation. CHFA Preservation Officer Brittney Cousin and Terry Barnard, Manager, Community Development Lending, spoke at the event.
Photos:
Hero: Silverton, Southwest Colorado
Homeownership: CHFA homeowners Joana, David, Greeley
Rental Housing: Canyon Vista, Glenwood Springs, courtesy of Cohen-Esrey Development Group
Business Finance: Axis Health System, New Markets Tax Credit recipient, Durango
Community Partnerships: Neighbor to Neighbor, 2024 Direct Effect Award recipient, Fort Collins
Spotlight, left: Whitney Gustin Connor, commemorative plaque recipient at the CHFA 50th Anniversary Gala, Denver
Spotlight, right: Colorado Affordable Housing Preservation Summit, Denver
Data as of January 28, 2025