Wednesday, October 10, 2012

Recent CHFA Loan Changes

Here are some recent changes to the CHFA (Colorado Housing and Finance Authority) loan program:
  • The minimum borrower contribution of $1,000 may now come from a gift from the borrower's relatives.
  • If the earnest money is more than $1,000, the excess can now be given back to the borrower at the closing.
CHFA loans are good loans for people who don't have a down payment.  There are two loans: the first loan is for 96.5% of the purchase price and the second loan is for 3% of the first loan amount.  The borrower only needs to contribute $1,000 towards the transaction.

Need a CHFA loan?  Give us a call and we'll hook you up.

Getting a loan approved is easy - if you know what to do.  The Mortgage Experts know what to do!!!

Make sure you check out our web site:

By the way, don't forget to refinance your current mortgage.  Rates are very, very low right now.  Don't miss out!  Call us today to get the details for your particular situation.

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