HFA Advantage is a mortgage program that features great CHFA interest rates, and also lets you save on mortgage insurance costs. Contact Alba Castillo, at 203-969-1830 x 2003 to discuss your first mortgage . Colorado borrowers may qualify for one of CHFA loans if they meet guidelines such as: Minimum credit score of 620 (680 required for CHFA Advantage program) Must meet income requirements; CHFA approved homebuyer class required; Minimum of $1,000 contribution toward home purchase required Features. What is this loan program? The CHFA Advantage Purchase program offers buyers access to conventional mortgages with 30-year terms. You can find more information on attending a homebuying class here. California's 2017 Housing Package Veterans Housing and Homelessness Prevention Program (VHHP) Language Access Complaint Form / Formulario de queja de acceso por idioma Governor's Office one-stop resource for people affected by wildfires: www.response.ca.gov CHFA strengthens Colorado by investing in affordable housing and community development. Loans are 30 year, fixed rate with 1% Origination Fee payable to the lender. … This program offers some obvious benefits with a very low down payment and the extra advantage of no mortgage insurance. The Keystone Advantage Assistance Loan Program provides a second mortgage loan to help with the costs associated with the purchase of a home. Our participating lenders and community partners help us deploy our resources statewide. The HFA Advantage and HFA Advantage Uninsured Loan Programs will provide first mortgage loan financing to eligible first-time homebuyers purchasing a single family residence in compliance with CHFA and FREDDIE MAC (FHLMC) eligibility requirements. Some borrowers may even be able to avoid mortgage insurance. Homebuyers who wish to use a CHFA loan must. This program offers a … Check out our HDF Advantage guidelines to find out if HFA Advantage will work for you! CHFA Advantage. Eligibility for CHFA loans. The 3% down payment with no mortgage insurance home loan is a conventional loan called CHFA Advantage℠. Attend a CHFA-approved homebuyer education class in-person or online before loan closing. This program offers affordable interest rates, a 30-year term, and no mortgage insurance requirement. The Freddie Mac HFA Advantage® mortgage is a conventional mortgage product available exclusively to housing finance agencies (HFAs) seeking strategic solutions to diversify their product offerings and portfolio mix while expanding homeownership responsibly. The Connecticut Housing Finance Authority offers home loans at below-market and competitive interest rates to eligible homebuyers through its various Homebuyer Mortgage Programs. The CHFA Advantage statewide purchase and refinance mortgage loan program is available to first time homebuyers (purchase only), eligible veterans, or non-first time borrowers purchasing property located in a targeted area. Make a minimum down payment on the home (funds may come from a gift). We offer financial resources to strengthen homeownership, affordable rental housing, and businesses. Have a credit score of 620 or higher (a higher minimum applies to the CHFA Advantage program). 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