This CHFA program helps borrowers with disabilities purchase their first home. If the buyer or a family member who will be living in the home has a documented disability the buyer may be eligible for a low-interest rate loan.

Eligibility Requirements

• Must provide proof of buyer's disability or the disability of a family member who will be occupying the home with the buyer (ex: evidence of Supplemental Security Income/SSI, documentation from the State Department of Social Services/DSS or Department of Developmental Services/DDS).

• Be a first time homeowner or have not owned a home in the past three years

• Must be primary residence

• Sales price and gross income must be within CHFA Sales Price Limits (see CHFA Resource Map)

• Must attend a free homebuyer education class prior to closing

• Federal mortgage insurance may be required. I

• If the home is sold within the first 9 years at a profit and income exceeds Federal Recapture Tax Income at the time of the sale buyer may be required to pay a Federal Recapture Tax. Tax amount may be reimbursed by CHFA.

Eligible Properties

• Existing – Single Family
• New Construction – (Statewide Single Family / 2 unit eligible in Targeted Areas only)
• 2 – 4 units (existing & occupied as residential for the past 5 years)
• Condominiums (FNMA & FHA approved – Includes 2-4 unit projects)
• Townhomes
• PUD’s (FNMA & FHA approved)

Targeted Area Exception

Buyer may be eligible even if they have owned a home in the past three years if purchasing in a targeted area (determined by federal government for revitalization). If buyer is not applying for Downpayment or using HFA Preferred, HFA Advantage, or CHFA CALP loan funding CHFA will waive income limit for eligible applicants.

Downpayment Assistance Program (DAP) Loans

Buyer may be eligible for a reduced rate loan as low as 1% to help with down payment and closing costs. Applicants must invest at least $1,000 towards costs. The DAP loan is a second mortgage. Borrowers must show ability to pay primary and DAP loans.

CHFA Resource Map

https://www.chfa.org/homebuyers/chfa-resource-map-target-areas/