offer your borrowers more savings with chfa preferredsm
new chfa preferred refinance program Effective Monday, February 1, 2016, CHFA will be offering an additional conventional refinance loan for your borrowers!
The CHFA Preferred refinance program offers many of the same benefits as the purchase program:
In addition, borrowers with enough equity in their homes can use a portion of their equity to pay off a second mortgage they used when they originally purchased their home. See the
program matrixfor complete details.
- 97 percent LTV,
- Borrower Premium options,
- Reduced-cost mortgage insurance, and
- The ability to cancel mortgage insurance when LTV falls below 80 percent.
borrower-paid single premium pmi CHFA will now permit borrower-paid single premium PMI for both purchase and refinance loans under the CHFA Preferred program. Your borrowers can use their own funds or combine their funds with CHFA’s Borrower Premium to offset the cost of the single premium, reducing their monthly mortgage payment.
Thank you for partnering with us to provide Colorado borrowers with unique mortgage options to make homeownership more affordable. Please contact a CHFA Business Development Specialist with any questions.