plus flexible options: give your borrowers more assistance options!
Help your borrowers find their "DPA fit" with one of the two options below:
unexpected options: now accepting qualifying income
That's right! You no longer have to calculate different income for most CHFA programs. We have moved to the industry-acceptable qualifying income calculation. The following programs use qualifying income:
- CHFA SmartStepsm and SmartStep Plussm
- CHFA HomeOpenersm and HomeOpener Plussm
- CHFA Advantagesm and Advantage Refinance
- CHFA Preferredsm, Preferred Plussm, and Preferred Refinance
For these programs, CHFA will defer to the income calculation requirements of the underlying loan program (Fannie Mae, FHA, VA, RD).
For more information, please watch the “Calculating Borrower Qualifying Income for CHFA Loans” video on our
chfa is faster than ever: one-day turn times
Our guaranteed one-day turn time on compliance reviews means you can help more customers in less time! We have changed our processes, and have allocated more staff to work for you to ensure your files are completed in record time.
- Millennials comprised 57% of our 2015 borrowers.
- Government and conventional products
- No first time homebuyer requirement for most programs
- 97% LTV conventional loans - Freddie Mac® too!
- Lower MI products
- No MI products
- CHFA DPA Grant - up to 4% of total first loan
- CHFA 0% second mortgage loan for up to 5% of total first loan
- Borrower Premiums - up to 2% of total first loan for closing costs
- No purchase price limits on most programs
- Refi programs available