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CHFA Update

CHFA Update

CHFA announced that effective with all reservations beginning July 1, 2010, participating lenders will be able to serve higher income single person households and more non-first time homebuyers.

  • New 2010 Income and Purchase Price Limits for all programs.
  • 1 person and 2 person household income limits have been combined into one Income Limit. In the past, many of CHFA’s programs had 3 income limit categories: 1 person, 2 persons and 3+ persons. Now there will be 2 income categories for most of our programs: 1-2 persons (income limit based on 100% of area median income/AMI for that county) and 3+ persons (income limit based on 115% of AMI).
  • The First time homebuyer requirement is waived for Borrowers purchasing Property located in Targeted Areas. CHFA will now allow non-first time homebuyers who meet the CHFA FirstStep/FirstStep Plus program guidelines to obtain a loan in this program provided the Property is located within a Targeted Area of Colorado. Qualifying non-first time homebuyers can also obtain a CHFA Statewide MCC provided the Property is located in a Targeted Area of Colorado.Note: FirstStep/FirstStep Plus and MCC may not be combined but HomeOpener/HomeOpener Plus may be combined with a MCC, provided Borrower meets guidelines of both programs. New income limits can be found here and more information about Targeted Areas can be found here.
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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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