​​ CHFA eNews: Home Finance
chfa enews - home finance 
January 28, 2016

offer your borrowers more​​ savings with chfa preferredsm

new chfa preferred refinance p​rogram

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:
  • 97 percent LTV,
  • Borrower Premium options,
  • Reduced-cost mortgage insurance, and
  • The ability to cancel mortgage insurance when LTV falls below 80 percent.
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.

borrower-paid single prem​ium 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.

CHFA Home Finance, Business Development
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope