CHFA eNews: Home Finance
chfa enews - home finance 
  November 6, 2019

important tax news: payment of property taxes

As the new calendar year approaches, please ensure that your company is complying with CHFA’s requirements for payment of property taxes. These requirements are as follows:
  • For any purchase or refinance loan closed in 2019 and purchased by CHFA on or after January 24, 2020, Participating Lenders are responsible at minimum for the payment of the first half of required 2019 property taxes and all prior years’ taxes due.
  • For any purchase loan closed on or after January 1, 2020, all prior year(s) property taxes must be paid at the time of closing.
  • For any refinance loan disbursed on or after January 1, 2020 and purchased by CHFA on or after January 24, 2020, Participating Lenders are responsible at minimum for the payment of the first half of required 2019 property taxes and all prior years’ taxes due.
  • CHFA will require proof of property tax payments prior to loan purchase.

Loan Closing
(or Disbursement) Date

Type of Loan

CHFA Purchase Date

Property Taxes Required to be Paid Prior to CHFA Purchase

2019

Purchase or Refinance

On or After 01.24.2020

First half of required 2019 taxes including any outstanding balance from previous years

2020

Purchase 

On or After 01.01.2020

2019 taxes must be paid in full including any outstanding balance from previous years

2020

Refinance

On or After 01.24.2020

First half of required 2019 taxes including any outstanding balance from previous years


Please contact us with any questions or for more information. 

CHFA Home Finance
Homeownership@chfainfo.com
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope
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