changes to chfa's borrower premium option
In light of recent shifts in the secondary market, CHFA is making some changes to its Borrower Premium option.
Effective for reservations on or after January 3, 2017, CHFA will no longer offer a 2 percent Borrower Premium
option for borrowers. The 1 percent Borrower Premium will remain available to assist borrowers with closing costs and prepaid expenses. The
CHFA DPA Grant will also continue to be available for up to 3 percent of the first mortgage loan amount.
CHFA is committed to providing products that make homeownership possible for Colorado households, and we realize that for many borrowers the 2 percent Borrower Premium is a valuable resource. We will continue to monitor market conditions and may reintroduce this option again in the future.
Please contact us with any questions, or for more information regarding this change.