chfa advantage very low income program (vlip)

program highlights:

Important: As of August 19, 2019, the CHFA Advantage Program is no longer available. The information below is for locks made prior to this date.

  • 30-year fixed rate Freddie Mac “Home Possible Advantage for HFAs” purchase and refinance loans only (97% LTV/ 105% CLTV)
  • No down payment assistance options available
  • Lower income limits apply (see income limits below)
  • Program eligibility is subject to lender’s loan qualifying income calculation
  • Minimum decision credit score of 680 or higher for all scored borrowers; borrowers with no credit score permitted
  • No private mortgage insurance required
  • See matrix below for further details