cutting the reddest of tape – chfa income requirement changes
We’ve got great news! Effective with reservations made on or after March 14, 2016, CHFA will now accept qualifying income for purposes of meeting CHFA income guidelines for the following programs:
For these programs, CHFA will defer to the income calculation requirements of the underlying loan program (Fannie Mae, FHA, VA, RD).
- CHFA Advantagesm and CHFA Advantage Refinance
- CHFA Preferredsm, CHFA Preferred Plussm, and CHFA Preferred Refinance
- CHFA SmartStepsm and CHFA SmartStep Plussm
- CHFA HomeOpenersm and CHFA HomeOpener Plussm
Programs excluded from this change include:
Contact your Business Development Specialist or CHFA Home Finance with any questions about this exciting change.
- CHFA HomeAccesssm
- CHFA SectionEightsm Homeownership and CHFA SectionEight Homeownership Plus
- CHFA Statewide Mortgage Credit Certificate (CHFA MCCsm)