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CHFA has been assisting homebuyers in Colorado since 1973! They can make your dream come true. They do require homebuyer education, however, CHFA can supplement when you need down payment assistance, or prefer to make a smaller down payment.
CHFA also has programs without PMI (private mortgage insurance) for qualified buyers, or refinance opportunities.
They do have a credit score, debt-to-income, and income restrictions. If this is a route you are interested in learning more about, contact us to learn more. You can even pair your CHFA mortgage with a cool tax credit (MCC), make sure you ask about this.
Additional tidbits
The way it works is CHFA will give you up to a 3% loan, whereby you utilize with the applicable CHFA first mortgage to buy your home. CHFA’s interest rates are very competitive to market rates, and as things get tougher in Denver, and with mortgage programs allowing down payment assistance demands for CHFA have grown. CHFA down payment assistance programs are SmartStep Plus & HomeOpener Plus.
CHFA is now offering a new program for those of you who have maintained or recently worked on getting your credit in good standing (680+). It is their CHFA Advantage loan, which offers a 30 yr fixed rate, 3% down and with no mortgage insurance!
With all CHFA programs as a borrower, you have to invest $1,000 in the transaction when you buy or $500 if you are refinancing your home. You must complete a homebuyers education, and also live in the house. CHFA does impose income limitations, so depending on which CHFA loan program you select there may be restrictions for income. Make sure to check out all of CHFA’s loan programs and see which one might be best for you!
CHFA also offers the MCC, Mortgage Credit Certificate. This is a tax credit that is available for all first-time homebuyers. Click here to find out more information.
For more information visit their website at www.chfainfo.com or call 1.888.320.3688. To get approved for a CHFA loan today be sure to fill out our basic pre-approval and we will get in touch with you to move forward.
Licensed in Colorado as Maestro LLC (DBA Mortgage Maestro Group) is an Equal Housing Lender.
Consumers wishing to file a complaint against a company or a residential Mortgage loan originator should complete and send a complaint form to the Texas department of savings and mortgage lending, 2601 North Lamar, suite 201, Austin, Texas 78705. Complaint forms and instructions may be obtained from the Department’s website at www.sml.texas.gov. A toll-free consumer hotline is available at 1-877-276-5550. The department maintains a recovery fund to make payments of certain actual out of pocket damages sustained by borrowers caused by acts of licensed residential mortgage loan originators. A written application for reimbursement from the recovery fund must be filed with and investigated by the department prior to the payment of a claim. For more information about the recovery fund, please consult the department’s website at www.sml.texas.gov.
Home Mortgage Disclosure Act Notice. The HMDA data about our residential mortgage lending are available online for review. The data show geographic distribution of loans and applications; ethnicity, race, sex, age and income of applicants and borrowers; and information about loan approvals and denials. HMDA data for many other financial institutions are also available online. For more information, visit the Consumer Financial Protection Bureau’s website.
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