chfa preferred/chfa preferred plus/chfa preferred very low income program (VLIP)

  • 30-year term purchase and refinance program
  • Conventional loan - Freddie Mac “Home Possible Advantage for HFAs”; Fannie Mae “HFA Preferred
  • Mid credit score of 620 or higher required
  • 3 percent down payment or equity required (may be gift)
  • Down payment assistance available for purchase
  • Low monthly mortgage insurance payments
  • Not subject to Recapture Tax
  • MCC may be used with this program​​​​​
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approved private mortgage insurance companies

 

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