chfa enews - home finance 
  May 13, 2021

dpa: eligible uses

With low inventory and increasing sales prices, CHFA realizes it’s a challenging market for homebuyers. We also realize the importance of providing down payment assistance (DPA).

CHFA DPA may be used toward down payment, closing costs, prepaids, and/or principal reductions provided all applicable insurer, guarantor, or Fannie Mae or Freddie Mac® requirements are met.

CHFA DPA may not be used to fund appraisal gaps, escrow repairs, CHFA’s Minimum Borrower Financial Contribution, any additional real estate broker or agent fees, or to pay off debt.

Additionally, excess funds resulting from CHFA DPA may not result in cash back to the borrower at closing.

Please contact us should you have questions.

CHFA Home Finance
303.297.7376 or 888.320.3688 Denver
970.241.2341 or 800.877.8450 Western Slope

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