Who says there are no second chances in life? Don't forget that JumpStart2 is here!

Participating Lenders can now make new reservations in the JumpStart2 program. According to the requirements of the federal first-time homebuyer tax credit program, borrowers must have a purchase contract dated on or before April 30, 2010 and close on their mortgage before July 1, 2010. The JumpStart2 program has interest deferral on payments on the Second Mortgage extended through December 31, 2010.

If the JumpStart2 Second Mortgage is not paid in full during the deferral period, interest will accrue beginning January 1, 2011 and the first payment date for the Second Mortgage will be February 1, 2011. Other than the deferral period and first payment date, JumpStart2 will follow all program guidelines of JumpStart. CHFA did not increase the JumpStart2 income limits, expand the program to non-first time homebuyers or change the maximum amount available for the JumpStart2 Second Mortgage. Please remember that CHFA issues both the initial and final JumpStart2 Truth In Lending (TIL) statements. Please allow three days for CHFA to issue the final TIL.

If you need a refresher course or are new to the JumpStart2 program, please refer to the matrix on our website or contact the Home Finance Division.

Please contact the Home Finance Division 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