18 AugCHFA Waives $500 Fee for Mortgage Credit Certificate

Colorado Housing and Finance Authority (CHFA) who offers the Mortgage Credit Certificate (MCC) in the state of Colorado is waiving their $500 administration fee for qualified programs and target areas.

Effective with all CHFA MCC reservations made on or after August 16, 2010

• CHFA is waiving the $500 MCC administration fee for all MCCs issued in connection with a CHFA HomeOpener^sm or CHFA HomeOpener Plus loan.

• In Federally Designated Targeted Areas, CHFA will waive the $500 MCC administration fee for a CHFA MCC issued in connection with any mortgage loan.

In addition, CHFA now has printable maps available on their website so you can locate properties in target areas.  The maps have green areas and list the census tract codes that are in the target areas.  To find out if a specific property is in a target area visit the FFIEC’s website and enter the address, city and state.  Click “Search” and the census tract code, or “Tract Code” will be located in the lower right hand corner.

For details on the overwhelming benefits of the MCC program see our previous post(s) on the subject.  You can also easily search our site for more information as we’ve referenced the MCC program in several posts.  View a short video about the MCC program.

About the Author | Scott & Marla Wynn

Scott & Marla Wynn are mortgage lenders with a focus on education. We believe an educated customer is our best customer. The mortgage industry has complicated the process of obtaining a mortgage so much that most customers believe the best way to select a mortgage lender is to inquire about rates and fees. Although rates and fees are an important part of the mortgage process, there are much more important areas to be concerned with. Lending A Hand was created to pass along our experience, knowledge and research to YOU to allow you to become a more educated mortgage customer. If you are planning a home purchase or refinance and live in the state of Colorado, we hope you select the Wynn Team as your mortgage lender!