Cash Assistance for Home Purchase

I talked about the CHFA program earlier and thought you might want to know the major highlights of the program:

Program 1: First Step Program Highlights
First Time Homebuyer or Eligible Veteran
Income limits and Purchase Price Limits apply
$1000 minimum financial investment
No CoSigners
ReCapture Tax Applies
Minimum Credit Score 580
Max DTI 45% on manual underwrite
Buydowns allowed
Count all household income regardless if everyone is on the loan
Homebuyer Education required

Program 2: HomeOpener Program Highlights
No First Time Homebuyer requirement
Income limits apply, but no Purchase Price limits
$1000 minimum financial investment
Accepts CoSigners
Not subject to ReCapture Tax
Minimum Credit Score 580
Max DTI 45% on manual underwrite
Buydowns allowed
Count all household income regardless if anyone is on the loan
Homebuyers Education required