- CHFA’s Down Payment Assistance Grant offers up to 3% of your first mortgage loan amount and does not require repayment.*
- CHFA's Down Payment Assistance Second Mortgage Loan offers up to 4% of your first mortgage loan amount. Repayment is deferred until certain events, such as payoff of your first mortgage (including sale or refinance) or if the home is no longer your primary residence.*
*Higher rates apply.
- All borrowers must have a mid-credit score of 620, however, there may be exceptions for those individuals with no credit score. In addition to meeting CHFA program requirements, borrowers must qualify according to the underwriting guidelines as determined by one of CHFA’s Participating Lenders.
- Need information on how to improve your credit? Contact a homebuyer education provider.
- The home is sold or transferred in some other way within nine years of the original closing date.
- The borrower has a net gain on the sale of the property.
- The borrower's income has increased to more than an amount prescribed by the Federal Tax Code.
** Exceptions apply.