chfa home finance enews

Locks made on or after the IRS tax filing deadline of April 15, 2019 will require the borrower’s 2018 tax returns. Full transcripts of the borrower’s tax returns are acceptable. Submission of 2017 tax returns or a filing extension in lieu of 2018 return

The total maximum loan limit for CHFA loan programs, excluding the CHFA FirstStepsm programs, is currently $484,350. The CHFA FirstStepsm programs continue to utilize the lower of the 2018 total maximum loan limit of $453,100 or 2018 loan limit determin

Lender Basics (Loan Officers) In-person class, Denver • March 5 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please contact Elfriede Leicht. CHFA Refresher (Loan Officers) Live

Due to current market conditions, CHFA is making adjustments to its down payment assistance (DPA) options. The following CHFA DPA options will be available for new loans locked on or after April 1, 2019: CHFA DPA Grant Option • May not exceed 3 percent

The CHFA HomeConnection system will be unavailable beginning at 6:00pm MT on Thursday, February 21, 2019, while the system undergoes maintenance. The system will be back up once the scheduled maintenance is complete, typically within an hour. Import

All CHFA staff will be participating in an offsite meeting on Friday, February 1, 2019. CHFA’s HomeConnectionsm system will remain operational, allowing lenders to lock new reservations and upload documents. Loan files due for review on February 1, 2019

If a Participating Lender would like to re-reserve a canceled Reservation, for the same Borrower and Property, the following options are available: 1. The Participating Lender may have the canceled Reservation reinstated. All terms including Interest Rate

Lender Basics (Loan Officers) In-person class, Denver • February 7 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please contact Shelley Ervin. CHFA Refresher (Loan Officers) Liv

If a Participating Lender would like to re-reserve a canceled reservation, on the same borrower and property, the following options are available: 1. The Participating Lender may have the canceled reservation reinstated. All terms including interest rate

CHFA will be installing a new server over the weekend of January 12-13, 2019. CHFA’s HomeConnectionsm system will not be available. New reservations and file submissions will not be allowed. Normal HomeConnection and business operations resume on Monday

Below is a list of 2019 holidays affecting CHFA Home Finance operations. On days when CHFA is closed, lenders will be able to submit documents; however, loan locks/reservations, processing of documents, file check-ins and reviews, and all other CHFA Home

The maximum CHFA loan limit for all mortgage loans is the lower of $453,100* or the amount determined by the applicable FHA, VA, USDA-RD, Fannie Mae, or Freddie Mac guidelines. Please note: The loan limit is based off of the total loan amount (which

Lender Basics (Loan Officers) In-person class, Denver • January 8 • 10:00am Learn about CHFA programsin thistwo hour class. Strongly recommended for loan officers. To register, please contact Jacob Lammert. CHFA Refresher (Loan Officers) Live webinar • Ja

Below is a list of upcoming holidays affecting CHFA Home Finance operations. Loan locks/reservations, processing of documents, file check-ins and reviews, and all other CHFA Home Finance operations will not be available when the office is closed. Lenders

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 2018 and purchased by CHFA on or a

In honor of former President George H. W. Bush, financial markets will be closed on Wednesday, December 5, 2018. Despite the market closures, CHFA will be open and all business functions operational.

CHFA DPA Has Restrictions Most of CHFA’s programs offer some form of down payment assistance (DPA). Regardless of the DPA type (grant or second mortgage), it can only be used for the following purposes: down payment, closing costs, prepaids, and/or

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 2018 and purchased by CHFA on or a

CHFA will be closed on Thursday, November 22, 2018, and Friday, November 23, 2018. Loan locks/reservations, processing of documents, file check-ins and reviews, and all other CHFA Home Finance operations will not be available. Lenders will have the abil

Lender Basics (Loan Officers) In-person class, Denver • December 4 • 10:00am Learn about CHFA programs in this two hour class. Strongly recommended for loan officers. To register, please contact Shelley Ervin. Lender Basics (Loan Officers) Live webinar •