CAFA

Capital Area Finance Authority (CAFA) – Capital Advantage Program 

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Lender/Program Portal

Note – for details, see the Administrator’s Guidelines under GUIDELINES Tab

PROGRAM FUNDS
  • Continuous Funding
  • Reservation/Locks – AVAILABLE* from 9:00am-7:00pm Central (10-8 EDT)
    • * Market Business days (excluding weekends & holidays)
    • Other system functions are available 24/7
LOAN TIME LINE REQUIREMENTS PLEASE DO NOT RESERVE EARLY.  BORROWERS SHOULD BE QUALIFIED BEFORE RESERVING.

  • Reservation to UW Cert: 15 calendar days (cancelled if not certified)
  • Reservation to Close and Delivery: 45 calendar days
  • Reservation to Loan Purchase: 70 calendar days
EXTENSION
  • To request a one-time 30-day extension, click here.
  • Extensions are not granted to extend the 15 days from Reservation to UW Certification
ELIGIBLE AREAS
  • Acadia, Allen, Ascension, Assumption, Beauregard, Calcasieu, Cameron, East Baton Rouge, East Feliciana, Evangeline, Franklin, Iberville, Jefferson Davis, Lafayette, Lafourche, Livingston, Ouachita, Pointe Coupee, St. Helena, St Landry, St. Martin, Tangipahoa, Terrebonne, West Baton Rouge, West Feliciana Parishes
ELIGIBILITY CRITERIA
  • There is no first-time homebuyer requirement in this program.
ELIGIBLE LOAN TYPES
  • FHA, VA, USDA-RD
  • Freddie Mac HFA Advantage
AVAILABLE DOWN PAYMENT ASSISTANCE
  • The program offers multiple levels of Assistance,  see rates tab 
INCOME LIMIT CRITERIA NEW 6/13
  • Household income = 1003 Credit Qualifying Income (not co-signor’s)
  • All family sizes – see Administrator Guidelines
HOME ACQUISITION LIMITS
  • None
HOME BUYER EDUCATION
  • Homebuyer Education required for first-time homebuyers
FICO SCORE & CREDIT REQUIREMENT
  • see Administrator Guidelines 
CO-SIGNERS
  • Cosigners are permitted for FHA loans under very specific conditions.
  • Co-signers cannot be named on the Warranty Deed.
LENDER PARTICIPATION
  • Approval by CAFA & US Bank
FORMS AND DOCUMENTATION
  • Available online under Forms
MASTER SERVICER
  • Provides information and training concerning the mortgage loan file, acceptable loan products, delivery and funding, reviews/purchases the mortgage file
  • Servicer Lender Guides, Click here ,  To contact US Bank Lender Help Desk, Click here.
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
 GOVERNMENT
USDA-RD or VA   640 5.875% w/3%
FHA 660
 
USDA-RD or VA   640 N/A w/4%
FHA 660
The Government 5% DPA options are temporarily unavailable.
CONVENTIONAL – FREDDIE MAC
HFA Advantage  640 5.00% w/0%
5.750% w/3%
6.125% w/4%
6.250% w/5%

 

  • 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:
Administrator Guidelines    Administrator's Guidelines 5/14, 6/9

  • Provides the web-based program loan reservation and management system, Administrator’s Guidelines, Program forms, Lender Program and System Training, Notices and updates to Lenders, Compliance Support to Lenders, Reviews Compliance Files, Timelines, Works with the Agency and Master Servicer on Program Goals.
  • Need help, Click here

 

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.
  • Primelending
  • 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.

Program Updates
  • 6/15 – revised income limits
  • 5/17- revised income limits

 

EhousingPlus University

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.

Should you have any questions on either training, please contact jennifer@ehousing.cc or services@eHousingPlus.com

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.