What property is eligible for a CHFA loan?
A dwelling eligible for CHFA financing can be a single family residence, a two to four family residence or a unit in an approved condominium complex or planned unit development. In the case of a two-to-four-family residence, at least one of the units must be owner-occupied and the building must have been used as a residence for at least five years. A newly constructed two-family home located in a targeted area may also be eligible for CHFA financing. CHFA city, town or statewide sales price limits will also apply to homes eligible for CHFA mortgages.
Related Questions
- Are reverse mortgages eligible for increased interest payments, and is the cost to create such a loan on a replacement property eligible for payment of incidental costs?
- What property types are eligible for Flex-Series Stated Income and No-Doc Commercial Loan Programs?
- Who is eligible for a CHFA loan?
