CHFA eNews: Home Finance
chfa enews - home finance 
June 26, 2017

chfa’s mortgage revenue bond program now available

Effective today, CHFA has reintroduced its tax-exempt Mortgage Revenue Bond (MRB) program via the CHFA FirstStepsm and CHFA FirstStep Plussm products. These loan products offer qualified borrowers another great opportunity to achieve affordable homeownership with CHFA. Because these loans are intended to be financed via tax-exempt MRBs, the requirements and documents differ slightly from CHFA’s other government programs. Key program features include:
  • Available for purchase loans only
  • Restricted to first time homebuyers, qualified veterans, and non-first time homebuyers purchasing in targeted areas
  • Separate income and purchase price limits apply
  • Program eligibility is subject to CHFA's household income calculation (see matrix for details)
  • Only available for FHA 203(b) mortgage loans
  • Minimum decision credit score for all scored borrowers of 620+; borrowers with no credit score permitted
  • CHFA Second Mortgage available for assistance with down payment, closing costs, and prepaids
See the program matrix for complete program guidelines and information, and visit our website to find training resources for these products.

mcc funds availability update

As anticipated, the CHFA MCCsm program has once again been a very popular and effective resource for Colorado homebuyers. As a result, for reservations made on or after July 10, 2017, the CHFA MCC program will only be available for purchases in targeted areas.

Thank you for partnering with us to make the 2017 CHFA MCC program a success. Together, we’ve made homeownership more affordable for Colorado homebuyers.

seller's guide updates

We have made some changes to our Seller’s Guide. Additionally, we have published a new Participating Lender Announcement which summarizes those changes.

CHFA Home Finance
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope

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