Frequently Asked Questions (FAQ)

- Do I have to be a First Time Buyer to use a CHFA Program?

Answer: No First-Time Home Buyer requirements on most loan programs

- How long does it take to purchase a home?

Answer: In most cases we can close your loan within 30 days

- How much money will I need to purchase a home?

Answer: CHFA requires a $1,000 minimum borrower contribution​n required (may be a gift) on most loan programs.  However in most cases you can expect

To spend between $3000 and $6000 to close your loan

- Can I buy any type of home with CHFA?

Answer: CHFA allows Single family, one unit, attached, detached homes; PUDs, attached, detached; condominiums; and manufactured housing on a permanent foundation.

- Can I buy a non-warrant-able condo with a CHFA loan?

Answer:  No