new moves

We have picked up the pace and changed up our processes to help you close more deals faster and with less hassle. Check out our new moves!

​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:​

• • • did you know? • • •
  • ​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
  • No rate adjustment on conventional condo loans
  • CHFA DPA Grant - up to 3% 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
  • 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 Training​ page.​

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. 

​convince your real estate partners

​CHFA could save the deal if your borrower gets involved in a multiple offer situation.

  • ​Price gets bid up, and the appraisal come in below offered price.
  • Borrower now has to use their own funds (intended for down payment) to pay the difference between appraised value and agreed-upon purchase price.
        • ​​List Price                 $250,000
        • Winning Offer         $261,000
        • Appraisal                 $252,000
        • Borrower's Funds   $12,000
Borrower must now use $9,000 of their own funds to pay difference between appraised value and agreed-upon purchase price—what do they do?
Answer: Use CHFA DPA Grant (up to 3 percent of loan amount) and Borrower Premium for up to 2 percent for closing costs. Go to closing on time!


If you have any additional questions, please contact CHFA Hom​e Finance.​​​​