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CHFA Advantage Update

CHFA Advantage Update

As of yesterday, April 24, 2013 CHFA announced a new guideline change for their CHFA Advantage program.  They have lowered the credit score to 680!!! (Previously 700).  It may not seem like a lot but for those of you who are just shy of that 700 score it is a big deal and a breathe of fresh air.

The CHFA Advantage program is special because it allows a for a 3% down payment with NO MI!!  And if needed you are able to use a gift and/or down payment assistance.  Make sure to read more about the program and ask your lender today if this is a good option for you.

If you have any questions, please contact us. We are proud to be an approved CHFA lender.  Click here is you would like to complete a secure online loan application.

~Cheers
Ray Williams

Branch Manager

 

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Licensed in Colorado as Maestro LLC (DBA Mortgage Maestro Group) is an Equal Housing Lender.

387 N Corona St #646, Denver, CO 80218.

NMLS Unique Identifier #1838215

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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