chfa lock to purchase



Effective on locks made on or after September 1, 2020: CHFA no longer reviews CHFA Preferredsm, CHFA Preferred Very Low Income Program, and CHFA SmartStepsm mortgage loans for CHFA program compliance prior to closing. Participating Lenders will lock these mortgage loans in HomeConnectionsm, close these loans, and then directly deliver these loans to CHFA for purchase.

We call this the "Lock to Purchase" process. 

why?

    • Speed: CHFA wants to get you and your borrower to the closing table faster.
    • Efficiency: 50% of loans reviewed during the CHFA Purchase Review have been revised from CHFA Program Compliance Review.
    • It’s the norm: CHFA aims to align with other investors.

CHFA program compliance review will still be performed on all other CHFA mortgage loans.

homeconnectionsm rules ensure CHFA program compliance

HomeConnection business rules will help ensure your CHFA loans meet our guidelines up-front, so you don’t have to worry about losing the reassurance of CHFA’s program compliance review.

lock to purchase training (on-demand)

lock to purchase refresher training (live webinars)


Looking for additional training opportunties? Click here.



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