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CHFA JumpStart2 Second Mortgage Loan Truth-in-Lending Instructions
 

Because of the complex Truth-in-Lending (TIL) calculation of the CHFA JumpStart2 Second Mortgage Loan...
  • Zero percent interest until 01.01.2011
  • 8 percent interest from 01.01.2011 to 12.31.2020
  • Administrative fee of $350 with a potential refund of $250 if the CHFA Second Mortgage Loan is paid in full by 12.31.2010
  • 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 JumpStart2 program. CHFA will fax the TIL to the CHFA Participating Lender, who is expected to deliver the document to the applicant in a timely manner.

CHFA Participating Lenders must request the Second Mortgage Loan Final Truth-in-Lending Disclosure Statement from CHFA no later than 48 hours before closing by emailing: CHFAJumpStart@chfainfo.com. CHFA will fax the document to the CHFA Participating Lender, who is expected to deliver the document to the borrower at closing.

In your request, please provide:
  • Closing date
  • Final second loan amount
  • Fax number and name of person receiving TIL

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