Frequently Asked Questions



How do I get started?
How much can I afford?
How do I determine what program is best for me?
What down payment assistance options (DPA) does CHFA offer?
Can I receive both the CHFA Down Payment Assistance Grant and the CHFA Down Payment Second Mortgage with my CHFA first mortgage loan?
Do I have to pay back the down payment assistance I receive from CHFA?
In addition to any down payment requirements, do I need to contribute a minimum amount toward the purchase of a home?
Can I put down more than the minimum down payment and still qualify for a CHFA loan and assistance?
Are there income restrictions?
Does CHFA have any minimum credit score requirement?
Is a homebuyer education class required?
Do I need to work with a real estate professional?
Can I work with any loan officer or lender?
What is mortgage insurance?
What is Recapture Tax?
What is a targeted area?
How do I get a copy of my Mortgage Credit Certificate (MCC)?
Can I contact someone to learn more?
DISCLAIMER: These FAQs are for general informational purposes only and might not be comprehensive, complete, up-to-date or accurate in every circumstance. These FAQs are not intended as and should not be taken as legal advice. For full details about CHFA’s single family mortgage loan programs, please contact one of CHFA’s Participating Lenders.