Applications must be sent by first mortgage lender.

Send the Initial application package, (list below) to newloans@chaconline.org (This address provides the best way to send information or to contact us with questions – Secure e-mails not accepted)

CHAC will review once a complete application has been received (allow 3 to 5 working days for review)

CHAC will:

  • Request additional information or
  • Decline the application (sent in writing to lender) or
  • Issue a Conditional commitment package and Borrower Disclosure Package to Lender (allow 10 working days from date of commitment to closing) and PLEASE READ ALL ITEMS CAREFULLY.

Initial application Package MUST INCLUDE

  • CHAC Information sheet, completed and signed by all household members over 18
  • Credit report (all borrowers)
  • Two months pay checks, and/or a VOE. (this must include income documentation for all household members over 18)
  • Two months bank statements (all accounts)
  • Most recent tax return
  • Lender 1003 and “Loan Estimate”
  • Affadavit of residency and readable picture ID of all borrowers
  • Other items as requested

Following the Conditional Commitment the lender will provide

  • Signed Borrower disclosure and compliance forms
  • Signed Seller or URA certificate
  • Lead based paint and Smoke and CO detector certification (if required)
  • Home Inspection
  • Title Commitment, (Distribution list, legal, wiring instructions)
  • Appraisal
  • Certificate from SITE Based CHFA approved first time homebuyer class. (EHOME or Framework is accepted when registered through CHAC)
  • Other items as requested

Borrower must participate in Borrower Counseling session –

  • This class is not the same as the initial First Time Homebuyer Class the  session will cover the details of the CHAC loan as well as review the closing, moving,  and responsibilities of a new homeowner.

CHAC will require the underwriter signed FHA LUTS or 1008

CHAC will

  • Provide figures to Title
  • Send APPROVED conditional Commitment when ALL conditions are satisfied
  • Send CHAC docs and funds to Title for closing and disbursement.