3 Good Changes from CHFA
CHFA announced last week that as of November 5th they are eliminating county loan limits that vary and instituting a statewide income limit of $115,600 for all household sizes for the majority of their loan programs. Second, they are eliminating their debt-to-income ratio restrictions or overlays and will instead follow the guidelines from Fannie, Freddie, FHA, USDA, and VA.
Third, CHFA will now allow a borrower to own an additional property and utilize a Freddie Mac loan under their Advantage and Preferred programs.