CHFA eNews: Home Finance November 6, 2019 important tax news: payment of property taxes As the new calendar year approaches, please ensure that your company is complying with CHFA’s requirements for payment of property taxes. These requirements are as follows: For any purchase or refinance loan closed in 2019 and purchased by CHFA on or after January 24, 2020, Participating Lenders are responsible at minimum for the payment of the first half of required 2019 property taxes and all prior years’ taxes due. For any purchase loan closed on or after January 1, 2020, all prior year(s) property taxes must be paid at the time of closing. For any refinance loan disbursed on or after January 1, 2020 and purchased by CHFA on or after January 24, 2020, Participating Lenders are responsible at minimum for the payment of the first half of required 2019 property taxes and all prior years’ taxes due. CHFA will require proof of property tax payments prior to loan purchase. Loan Closing (or Disbursement) Date Type of Loan CHFA Purchase Date Property Taxes Required to be Paid Prior to CHFA Purchase 2019 Purchase or Refinance On or After 01.24.2020 First half of required 2019 taxes including any outstanding balance from previous years 2020 Purchase On or After 01.01.2020 2019 taxes must be paid in full including any outstanding balance from previous years 2020 Refinance On or After 01.24.2020 First half of required 2019 taxes including any outstanding balance from previous years Please contact us with any questions or for more information. CHFA Home Finance Homeownership@chfainfo.com 303.297.7376 or 888.320.3688 Denver 970.241.2341 or 800.877.8450 Western Slope Connect with CHFA!
