Chfa Mortgage Payment Options

chfa mortgage payment
Updated - 2022.04.20

Homeowners have several options when it comes to paying their mortgage. Some opt to make one large lump sum payment every month, while others choose to break it down into smaller payments. 

There are various ways to make your Chfa mortgage payment. You will need to consider how each of these options will affect your budget and how you can afford your monthly payments.

The free online calculators can help you to find out how much your monthly payment on Chfa Mortgage will be:

Create an Online Account to Make Your Chfa Mortgage Payment

chfa mortgage payment

Accessing your online account is the best way to make your Chfa mortgage payment. It’s convenient, secure, and easy to use. You can log in from any device at any time. 

Follow the steps below to create your Chfa online mortgage payment account.

    • Click the login button on the right side of Chfa mortgage’s homepage
    • Select Mortgage Account Login from the dropdown menu
    • Choose Register
    • Enter your Loan Number (You’ll find it on your payment coupon or mortgage statement)
    • Submit the last 4-digits of your SSN or TIN
    • Enter your Property ZIP Code
    • Check ‘I’m not a robot box.’
    • Click Next
    • Check the four categories of Consent required. Ensure that you read each section carefully before giving your approval.
    • Click the Next button.
    • Enter your Username, which should be at least five characters long, followed by your Email Address
  • Confirm your Email Address
    • Enter your Password, which is at least ten characters long and has upper and lower case letters and numbers.
  • Confirm the Password
  • Click the Submit button
  • Check your Email for a message notifying you of your account registration. Click the given link to complete your registration process.
  • You will receive a notification of Complete Registration.
  • Click Back to Login
  • Submit your Login Details

You can now access your online account. Note: you will not require a separate online account if you want to register a second loan. Log in to your account and add the additional loan under the Settings and Notification page.

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Log Into Your Account to Make a Chfa Mortgage Payment

Below are the steps to follow when logging into your account to make your Chfa mortgage payment.

  • Click the login button on the right side of Chfa mortgage’s homepage
  • Select Mortgage Account Login from the dropdown menu
  • Click Login
  • Enter your Username followed by your Password
  • Click Login

You can use your checking or savings account to submit your payment.

With the online system, you can download the Mobile Apps on Apple Store or Google Play to submit your payments. You can submit a one-time payment using your checking or savings account.

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Other Chfa Mortgage Payment Options

chfa mortgage payment

Sometimes, you may have to resort to different payment options other than the online platform. You can use the following avenues:

Overnight Payments and Payment by Mail

When using the overnight payment through the special mail delivery services, use the following address:

Colorado Housing and Finance Authority

1 Corporate Drive, Suite 360

Lake Zurich, IL 60047-8945

You should mail your regular payment to:

Colorado Housing and Finance Authority

P.O BOX 660592

Dallas, TX 75266-0592

Pay by Phone

If you prefer to make your monthly mortgage payment over the phone, please contact CHFA Loan Servicing at 855-587-8655.

Please keep in mind that you might incur a fee for paying by phone.

Third-Party Payment Service

Whenever you submit your payment using an online or third-party bill payment service like your bank, ensure that your provider includes your loan number and sends the payment to:

Colorado Housing and Finance Authority

P.O BOX 660592

Dallas TX 75266-0592

Automatic Payment Program (APP)

When you want to save time and money on your monthly mailings, enroll in the CHFA’s Automated Payment Program (APP). Once you have signed up with APP, Chfa will automatically debit your mortgage repayments from your savings or checking account monthly until you cancel your account. Please call CHFA Loan Servicing at 855-587-8655 to request an application form.

As soon as you obtain the authorization form, please send it back to the address provided or fax it to the following number for processing:

Colorado Housing and Finance Authority  

Attention: Drafting 

1 Corporate Drive, Suite 360, 

Lake Zurich, IL 60047-8945 

Fax: 847-550-7425

Semimonthly Payment Plan

CHFA has introduced a new automatic payment plan to assist you with your monthly budgeting. This alternative does not shorten your mortgage term, but it also does not need you to make a monthly payment in advance.

Let’s see how it works:

  • Your complete monthly mortgage payment is deducted from your checking or savings account in two installments. Each withdrawal will be equal to one-half of your monthly mortgage payment.
  • You have two withdrawal dates: the first part payment can be paid on the 1st or 5th of the month, and the second half of the payment can be withdrawn on the 10th or 15th of each month. If you do not provide a selection, the payments will be withdrawn on the first and tenth of each month.

To enroll in the program, fill out this form and select “Semimonthly Draft,” then email it with a scanned copy of a canceled check to set up the ACH payments.

Biweekly Payment Plan/ Budget Drafting

This payment option reduces your mortgage term since you can make your payments at a faster rate.

Download the signup form, print it, and complete it. You can then return it to CHFA Loan Servicing using the directions given on the form. Learn more about this payment option before enrolling in it.

Cash Payments Using Western Money Quick Collect

You can pay the CHFA mortgage loan in minutes, and you will receive proof of payment from Western Union Quick Collect, which is secure and convenient. There are Western Union offices in most stores and businesses that you frequent.

You can accomplish your mortgage payment in three simple steps:

  • Call 1.800.238.5772 to find the Western Union/Quick Collect Service Center closest to you.
  • Bring your cash payment to a Western Union Service Center. Tell the agent that you are a Dovenmuehle Quick Collect customer. They can process your payment.
  • Enter the special password “WOODFIELD, IL” to receive a discounted rate during the checkout process. Don’t forget to include the loan number in your message!

Even so, you might still incur additional charges.

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Chfa Customer Service

Chfa Customer Support:

800.877.2432

Chfa Loan Information Home Mortgage:

855.587.8655

Chfa Loan Information Business Customers: 

800.877.2432

Asset Management: 

303.297.7489

 Lending:

303.297.2432

Chfa Finance:

303.297.7436

Chfa Home Finance:

303.297.7376

Marketing and Community Relations:

303.297.7427

Chfa Information Technology:

303.297.7409

Chfa Investor Relations: 

303.297.7397

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Facebook: www.facebook.com/CHFA.Colorado

Instagram: www.instagram.com/coloradohfa/

Twitter:twitter.com/CHFA

Linkedin: www.linkedin.com/company/colorado-housing-and-finance-authority/

Vimeo: vimeo.com/chfa

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Chfa Mortgage Payment Questions and Answers

chfa mortgage payment

Do I have a grace period for submitting my payment?

Your Chfa mortgage payment is set up on the first day of each month. However, you will only incur late fee charges if you submit your payment from the 16th day of the month.

Am I required also to pay back the down payment assistance I receive from Chfa?

The down payment requirements depend on the kind of assistance you get.

  • The CHFA Down Payment Assistance Grant provides up to 3 percent of the amount of your first mortgage loan and does not need a repayment.
  • The Down Payment Assistance Second Mortgage Loan from the CHFA provides up to 4 percent of the amount of your first mortgage loan. If you pay off your original mortgage (including through a sale or refinance), or if your house is no longer your principal residence, repayment is postponed until the occurrence of specific conditions.

Is it possible to qualify for a Chfa mortgage loan and assistance by paying above the minimum down payment requirement?

Yes. You can still put down a larger down payment than the minimum necessary and still qualify for a CHFA first mortgage loan and one of the down payment assistance alternatives available through the organization.

Where can I find a record of my Chfa mortgage payments?

Once you have an active loan account, you can easily view your payment history. You can access the same information if you have the Chfa mobile app.

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What to Do if I Made a Late Chfa Mortgage Payment

It’s a good idea to avoid a late Chfa mortgage payment at all costs, but mistakes sometimes happen. While you don’t want to be too hard on yourself if this happens, you need to consider possible consequences. Case in point: you could see your credit score take a hit if you don’t make payments on schedule. Also keep in mind that late mortgage payments may remain on your credit report for as many as seven years, which would adversely impact your credit score. What follows is a look at 3 proven strategies you can use to have late mortgage payment information scrubbed from your credit report.

Option #1: Contact Chfa Mortgage and Make Request

Reach out to Chfa Mortgage by phone right away, and acknowledge that your payment was submitted past the deadline. It’s important to admit you were in error. Let them know when they can expect payment. They may be willing to delete your late payment data so that your creditworthiness doesn’t suffer.

Option #2: Write Them a Letter

The next option at your disposal is to write a letter, known as a goodwill letter, to Chfa Mortgage. In the letter, you’ll want to specifically and respectfully request a removal. Do these 2 things in the letter:

  1. Demonstrate that you accept that the situation was caused by you.
  2. Guarantee that there will be no repeat of the delinquent behavior going forward.

What follows is a sample letter template you can use as inspiration:

[Your first and last name] [your address] [your account number]

[date]

To Whom It May Concern:

I appreciate your taking the time to read my letter. The reason for this correspondence is that I found on my latest credit report a late payment listed on [date] for my [name of account] account. I’m aware of the importance of making timely payments and meeting my financial commitments. But due to [situation that led to the missed payment], I unintentionally missed the payment due date. Although I missed the deadline, I have since then taken measures to ensure this does not happen again. Specifically, I’ve [explain what has changed that will prevent any additional late payments]. Since my missed payment, I have had a flawless record of making payments on time.

One reason I’m making this request is that my intention is to apply for a [loan, credit card, etc], and I’ve come to understand that the missed payment reflected on my credit report could jeopardize my objective. Given the fact that my single late payment does not adequately reflect my creditworthiness and intention to abide by my financial obligations, I would be grateful if you would make a goodwill adjustment. This would delete my late payment on [date] and enable me to obtain a [loan, credit card, etc.) and to secure a better rate.

I appreciate your considering this matter, and I hope you will grant my request.

Best regards,

[your name]

Option #3: Make Them an Offer

Another option is to contact Chfa Mortgage and make them an offer they can’t refuse. Lenders prefer to have people opt for automatic payments – so that payments are made on time, all the time. If you’re willing to sign up, the lender might be persuaded to scrub the late payment from your credit report as a goodwill gesture. Chfa Mortgage may, if you do not wish to sign on for automatic payments, recommend another way for you to potentially get your late payment erased from your credit report.

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How to Avoid Late Chfa Mortgage Payments

When you do get approved for a Chfa Mortgage loan, you’ll want to avoid any late payments. Here are a few tips that will help you steer clear of making untimely payments.

Tip #1: Sign Up for Auto-Pay

Your first order of business is to set up an automatic payment option, and you can do this either through your bank or through your lender. You’ll want to go with the most ideal option for you.

Auto-Pay - the Pros:

  1. You can avoid late payments and any resulting late fees. This will, in turn, ensure a healthy credit score.
  2. You can do your part to protect the environment with paperless billing.
  3. You won’t have to deal with any expenses relating to postage as you won’t need an envelope or a stamp, and you won’t have to fill out a check since auto-pay is done via electronic funds transfer.
  4. You will save time since auto-pay is convenient. No more will you have to take the time to sit down, write up a check, write your address and the address of the mortgage lender on the envelope, put on a stamp, and put the envelope in the mail. With auto-pay, you can automate the entire process of paying bills.

Auto-Pay - the Negatives:

  1. You could, if you’re not monitoring the inflows and outflows of money in your bank account, overdraw your account. In order to avoid any problems, just keep track of how much you have in your account at all times.
  2. You could potentially overlook things like errors, interest rate hikes, or other hidden fees. This can be avoided by simply making it a habit to go over your bill.
  3. You could fail to stay on top of things such as the amount owing or the amount you’re paying monthly. As has been mentioned, you can steer clear of such problems by checking into your account regularly. This will help you to know when it might be a good idea to made additional payments to reduce the principal quicker.

Tip #2: Sign Up for Alerts and Reminders

Receiving a notification for an upcoming bill payment can make all the difference. You can get this by using an app, by getting your mortgage company to send an alert or reminder by email, or even by using Google calendar. You’ll be able to avoid late payments by doing so

Tip #3: Set Up a Bill Pay Day

Another option is to purposefully schedule a period of the month when you can commit to making bill payments. When you go this route and have a system in place, you will avoid late Chfa mortgage payments.

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