CHFA eNews: Home Finance


CHFA MCCs are Back!	August 2, 2010
Mortgage Credit Certificates will be available again statewide, without targeted restrictions, starting August 2, 2010. CHFA is releasing another $50 million to be used in the statewide MCC program. As a reminder, the enhancements that were made to this program in June 2010 are still in effect: Available to first time homebuyers, non-first time homebuyers purchasing in a Targeted Area, Eligible Veterans who are non-first time buyers (purchasing in non-Targeted or Targeted Areas),and Higher income first time buyers may also qualify if purchasing in a Targeted Area. Don’t forget that you can combine the MCC program with the CHFA HomeOpener or HomeOpener Plus program or any other Non-CHFA purchase money mortgages (FHA,VA, RD, or Conventional; fixed rate loans; 5/1 or longer ARM loans). This may be a great time for many borrowers with adjustable rate mortgages to refinance, too. Don’t forget to offer a CHFA MCC to any borrower refinancing out of a qualified ARM (any ARM originated after 12.31.01 and before 1.1.08). You can provide those borrowers with a great refinance loan while rates are at record lows. You’ll be giving them a double benefit this year and for years to come with a great interest rate and the tax credit benefit of the CHFA MCC program! Reservations for the MCC program will be available through the CHFA HomeConnection system. Do not fax a reservation to CHFA. New to CHFA or the MCC program? Sign up for an upcoming CHFA lender class or MCC webinar.
Please contact us with any questions. 303.297.7376 or 1.888.320.3688 Denver 970.241.2341 or 1.800.877.8450 Western Slope Thank you, CHFA Home Finance	Thank you for your assistance with this important communication.

CHFA MCCs are Back!

Thank you for your assistance with this important communication.