Below you will find common questions we receive from lenders. Please keep in mind that the Homeownership Center is a client powered experience.

• DPA can be in the form of grants (free money), loans (repaid with low interest), deferred loans (payments delayed until specific conditions), or forgivable loans (transform into grants over time).
• These programs may be managed by state, city, and county officials, as well as nonprofit organizations.

• Eligibility varies by program but typically considers income, home price, creditworthiness, employment, and debt-to-income ratio, and need.

• Homebuyer must apply on CHDCs online portal selecting pre-purchase service line and upload current documentation (credit report or credit $37.40 credit check fee per person or $75.40 for joint or co-Applicant credit report., 2 years W-2s, 2 months bank statements, 30 day pay stubs)and if in contract a current purchase agreement and pre-approval.
• Homebuyer must complete HUD approved homeownership education course and one-on-one housing counseling session from CHDC housing counselor.

It takes 10-20 days for us to process and underwrite a loan. We process a loan just like the 1^st lender, we do have to send out our LE, 1003, Cd, and all other disclosures, we are in compliance with TRID. That is why it’s important to submit your lender package right away (at least 10 business days prior to close)

Lenders can use any program that doesn’t require training, Some programs require lender training.

Counselor will make that determination, Most importantly have your client sign up now.

Client has to pay credit fee of $25.51 and homebuyer education workshops are now free if they haven’t taken a HUD approved class elsewhere, and underwriting fees. (every program is different)