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)

CHAC will review (allow 3 to 5 working days)

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
  • Most recent tax return
  • Lender 1003 and Loan Estimate
  • Certificate from SITE Based CHFA approved first time homebuyer class
  • EHOME is accepted when registered through Colorado Housing Assistance Corporation (CHAC)

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
  • Affadavit of residency and readable picture ID of all borrowers
  • Other items as requested

Borrower will participate in Borrower Counseling session

  • Underwriter signed FHA LUTS or 1008

CHAC will

  • Provide figures to Title
  • Send APPROVED conditional commitment when ALL conditions are satisfied