chfa preferred/chfa preferred plus

​program highlights: 

  • 30-year fixed rate Fannie Mae “HFA Preferred” or Freddie Mac “Home Possible Advantage for HFAs” purchase and refinance loans only (97% LTV/ 105% CLTV)
  • CHFA DPA Second Mortgage Loan available for assistance with down payment, closing costs, and prepaids
  • Income limits apply (see income limits below)
  • Program eligibility is subject to lender’s loan qualifying income calculation
  • Minimum decision credit score of 620 or higher for all scored borrowers; borrowers with no credit score permitted
  • Charter level PMI coverage capped at 18% (CHFA-approved PMI providers)
  • See matrix below for further details
​​​

approved private mortgage insurance companies