Important Reminder to all Lenders Regarding CHFA JumpStart Truth-in-Lending Disclosures!

Please email CHFAJumpStart@chfainfo.com at least 48 hours before closing so CHFA can issue the Final Truth-in-Lending for the CHFA JumpStart loan.   

Because of the complex Truth-in-Lending (TIL) calculation of the CHFA JumpStart Second Mortgage Loan—

• Zero percent interest until 6.30.2010
• Eight percent interest from 7.01.2010 to 7.01.2020
• Administrative fee of $350 with a potential refund of $250 if the CHFA Second Mortgage Loan is paid in full by 6.30.2010
• Loan is closed in CHFA's name

—CHFA will issue the Second Mortgage Loan Initial Truth-in-Lending Disclosure Statement within 72 hours after completion of a Reservation in the CHFA JumpStart Program. CHFA will fax the TIL to the Participating Lender, who is expected to deliver the document to the Borrower in a timely manner.

Participating Lenders must request the Second Mortgage Loan Final Truth-in-Lending Disclosure Statement from CHFA 48 hours prior to closing by emailing CHFAJumpStart@chfainfo.com. CHFA will fax the TIL to the Participating Lender, who is expected to deliver the document to the Borrower at closing. 

The executed Second Mortgage Final TIL must be in the Pre-Funding loan package. Loans will be suspended for Funding if the file is missing this document.

Please make sure this email is forwarded to the appropriate staff in your organization to assure accurate and timely closings.

Please contact us with any questions.

Thank you,
CHFA Home Finance
303.297.7376 or 1.888.320.3688 Denver
970.241.2341 or 1.800.877.8450 Western Slope