chfa advantage/chfa advantage very low income program (VLIP)

  • 30-year term purchase and refinance program
  • Conventional Uninsured - Freddie Mac “Home Possible Advantage for HFAs”; Fannie Mae “HFA Preferred Risk Sharing
  • 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 
  • MCC may be used with this program​​​​