In another attempt to ease the financial crisis heard round the world, Colorado Housing and Finance Authority (CHFA) and Congressman Ed Perlmutter (D-7) announced a new mortgage program to help Coloradans leverage Federal First Time Homebuyer Tax Credit into a down payment. If you’re not familiar with the tax credit afforded by the American Recovery and Reinvestment Act, it effectively “lends” borrowers the credit of up to $8,000 at 0% interest, which would have to be paid off by June of next year.

To learn more about the tax credit and how it may apply to your situation, ask a Colorado mortgage company or lender for more information.