Capital Area Finance Authority (CAFA) – Capital Advantage Program
Note – for details, see the Administrator’s Guidelines under GUIDELINES Tab
|LOAN TIME LINE REQUIREMENTS||PLEASE DO NOT RESERVE EARLY. BORROWERS SHOULD BE QUALIFIED BEFORE RESERVING.
|ELIGIBLE LOAN TYPES||
|AVAILABLE DOWN PAYMENT ASSISTANCE||
|INCOME LIMIT CRITERIA NEW 6/13||
|HOME ACQUISITION LIMITS||
|HOME BUYER EDUCATION||
|FICO SCORE & CREDIT REQUIREMENT||
|FORMS AND DOCUMENTATION||
Current Rate/Offerings – Reservation/locks – AVAILABLE from 9:00am-7:00pm Central (10-8 EDT excluding weekends & holidays)
|Rate/Offerings||Min FICO||Lock Rate||DPA|
|USDA-RD or VA||640||5.875%||w/3%|
|USDA-RD or VA||640||N/A||w/4%|
|The Government 5% DPA options are temporarily unavailable.|
|CONVENTIONAL – FREDDIE MAC|
Assistance is a non-repayable grant
The system will calculated based on the final loan amount
for down payment or closing costs
Cash back is not allowed
Lender up-fronts. US Bank will reimburse at purchase
eHousingPlus is the Program Administrator, and provides some of the following services:
The Following Lenders have been approved to originate loans in 2014:
- American Financial Network
- Assurance Financial Group, LLC
- BancorpSouth Bank
- Cendera Funding, Inc.
- DHI Mortgage
- Eustis Mortgage Corporation
- Everett Financial Inc, dba Supreme Lending
- Fairway Independent Mortgage Corporation
- Fidelity Bank
- Franklin American Mortgage Company
- Gateway Mortgage
- GMFS Lending
- Guild Mortgage
- Gulf Coast Bank & Trust Co.
- Hancock Whitney Bank
- Home Bank, N.A.
- Iberiabank Mortgage Company
- Integrity Mortgage & Financial Inc.
- Investar Bank
- Loan Simple
- Mortgage Financial Services
- Movement Mortgage, LLC
- National Mortgage Insurance
- Nations Lending Corporation
- Nations Reliable Lending
- Pacific Union Financial
- Premier Nationwide Lending, LLC.
- Red River Bank
- Regions Bank dba Regions Mortgage
- Republic State Mortgage Company
- Semper Home Loans, Inc.
- Summit Funding
- SWBC Mortgage Corporation
- Whitney Bank
Interested in becoming a participating lender? Contact us.
eHP Lender Program Training- Required for everyone participating in the program and is offered 24/7. Click here to attend
eHP System Training*– After you complete the online Lender Program Training, information is provided as to what happens next. To register for eHP System training, Click here. Please make sure you sign up for system training; do not wait until the last minute and put your loan closing at risk.
To read more about eHP Program Training, click here.
* System Training is required at least once, so that users gain the knowledge necessary to originate and manage their loans on-line. eHP University provides additional opportunities to re-train and/or refresh your system knowledge. Recurring (experienced) system users do not need to attend system training.