how to get a chfa loan



​did you know?

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  • Programs for both first-time and non-first-time homebuyers

  • FHA, VA, RD/USDA or conventional (Fannie Mae or Freddie Mac) loan programs

  • 30-year fixed-rate loans

CHFA believes in responsible, affordable homeownership. Through our statewide network of Participating Lenders, we offer:

General Program Requirements

The following are some of CHFA’s general requirements:

  • All borrowers have a mid-credit score of 620 or higher (CHFA Advantagesm program requires a mid-credit score of 680)

  • Total borrower income must not exceed CHFA’s income limits

  • Attend a CHFA-approved homebuyer education class (in person or on-line) prior to loan closing (purchase only)

  • Make a minimum borrower financial contribution of at least $1,000 toward the purchase of the home

In addition to meeting CHFA program requirements, borrowers must qualify according to the underwriting guidelines as determined by one of CHFA’s Participating Lenders.


Important next steps

  • Take a homebuyer education class:

    • You must complete a CHFA-sponsored homebuyer education class before closing on your home loan under a CHFA program. We recommend taking the class early in your housing search so that you are prepared to find a lender and real estate agent who are the best fit for you.

    • In-person and online options are available.

    • Register for a class today!

  • Contact a CHFA Participating Lender:

    • CHFA loan programs are available through our statewide network of CHFA Participating Lenders.

    • A CHFA Participating Lender will help you determine which CHFA loan programs will work for you. They will walk you through the entire loan process from application to closing.

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​contact​

Contact a CHFA Partic​ipating Lender​ to get started on your road​ home.​

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