The CHFA Conventional Area Median Income (AMI) Loan Program (CALP) provides first mortgage loan financing to qualified first-time homebuyers that do not qualify for the FNMA - HFA PreferredTM or FHLMC - HFA Advantage® Loan Programs due to their qualifying income being greater than 80% of the Area Median Income. This program helps borrowers save on insurance costs, along with CHFA's below-market interest rate. If you are not a first-time homebuyer, you may still qualify for this mortgage program if you are purchasing a home in a Targeted Area.
Downpayment Assistance Program (DAP) Loans
You may be eligible for a low-interest supplementary second mortgage of at least $3,000 to cover the down payment and closing costs. You must show you have the monthly income to pay both loans. Applicants will be required to make a minimum investment of $1,000 towards the acquisition costs.