chfa advantage very low income program (vlip)

  • 30-year term purchase and refinance program 
  • Conventional Uninsured - Freddie Mac “Home Possible Advantage for HFAs” 
  • Lower income limits than CHFA Advantagesm 
  • Mid credit score of 680 or higher required 
  • 3 percent down payment required (may be gift) 
  • No monthly mortgage insurance 
  • Not subject to Recapture Tax