CHFA does allow you to rent out the property on a case by case basis. I have heard they offer a waiver to their policy on a year by year basis with prior approval. If you would like to investigate this further I would suggest contacting CHFA’s home ownership department. I looked at the number for you at http://www.chfainfo.com/homebuyer/Contact_Home_Finance.icm and the number is 303.297.7376.

Good luck.

Scott Wynn

We are first time home buyers and thanks to Chafa we were able to purchase a 3 bedroom apartment. Though we are 5 in the family we thought this would fit our needs and was really the only place we could afford.

The place is fine but due to health issues with our children we may need a bigger space. We don’t think this is a good time to sell the property but were wondering if it is possible for us to rent it out until we are able to sell it. Since we bought our home it has lost about 10.000 in value too.

We have always paid our mortgage on time for the past almost
3 years now.

Please let me know who to contact regarding these questions.

Thank you for your attention to this matter.

Best regards,

Beatriz F.