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:

www.mtgsupportservices.com

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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