Earnest Money and CHFA Loans

By
Mortgage and Lending with The Mortgage Experts at America's Mortgage, a Division of Cherry Creek Mortgage Co. NMLS #241555

CHFA (Colorado Housing and Finance Authority) offers down payment and closing cost assistance for Colorado home buyers and they only require the buyer to contribute $1,000 of their own money to the transaction.

However, if a buyer pays more than $1,000 in earnest money, they are NOT allowed to get the amount that is in excess of $1,000 back at the closing. So make sure that when your buyer is getting a CHFA loan, they only pay $1,000 in earnest money.

Have a buyer who needs a CHFA loan? Send them to us and we'll take care of everything for you.


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

And make sure you check out all our great tips on our blog:

http://TheMortgageExperts.blogspot.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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Topic:
ActiveRain Community
Location:
Colorado
Groups:
Realtors®
1st Time Buyers
Colorado Real Estate
Colorado Realty Bloggers
Tags:
earnest money
mortgage tips

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Debbie Laity
Cedaredge Land Company - Cedaredge, CO
Your Real Estate Resource for Delta County, CO

I think CHFA is a great program, but the CHFA loans aren't that popular in my area. I do believe that is due to agents not knowing more about how the loan program works. I handle the CHFA foreclosures in the two rural counties that make up my area. They are the best asset managers to deal with, and treat you like you are a real human being.

Feb 13, 2012 12:28 PM #1
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Chris Thomas

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