CAFA Program Highlights

CAFA, Capital Advantage Program | At-A-Glance

CAFA, Capital Advantage Program | At-A-Glance

AVAILABLE PROGRAMS CAP & CAP PLUS
ELLIGIBLE AREA Eligible Area
ELIGIBLE BORROWER(S) No first-time buyer requirement
RATES See Chart
DPA AVAILABLE See Chart
LOAN TYPE See Chart
INCOME LIMITS Income Limits
PURCHASE LIMITS No Program overlay for purchase price limits for FHA, VA, USDA-RD. $510,400 Purchase Price for Freddie Mac
TIMELINE REQUIREMENTS 70 days from Reservation to Loan Purchase. Underwriter Certification any time prior to closing.
HOMEBUYER EDUCATION Homebuyer Education
CO-SIGNORS Co-Signers are permitted with FHA loans only. Co-signer cannot live in the property and cannot have any ownership interest.
PROGRAM GUIDELINES CAFA Guidelines
PROGRAM GUIDELINES CAFA PLUS Guidelines
PARTICIPATING LENDERS Participating Lenders

Today’s Rates & Offerings [ Business Days 9:00am – 7:00 pm CT ]

CAFA, Capital Advantage Program | Rates & Offerings

CAP Advantage - Conventional 80% AMI (w/Grant)

CAFA Capital Advantage Program (CAP)


Freddie Mac HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits may not exceed 80% AMI (determined by Freddie Mac) in order to receive reduced mortgage insurance
  • No Purchase price limits (Use Agency loan limits)
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance offered as a non-repayable GRANT
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Eligible area: We will link to the eligible areas on the web page
Offering FICO DPA Lock Rate
Freddie Mac 80% AMI 640 0% 6.875%
3% n/a
CAP PLUS – Government (w/second mortgage)

CAFA Capital Advantage Plus Program (CAP Plus)


FHA, VA


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income limits
  • No Purchase price limits (Use Agency loan limits)
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance is 6% Interest, 20-year amortizing, second mortgage
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for FHA is 660
  • Minimum FICO for VA is 640
  • Eligible area: We will link to the eligible areas on the web page
Offering FICO DPA Lock Rate
FHA, VA 640 3% 7.125%
4% 7.625%
5% 8.250%
CAP PLUS – Conventional 80% (w/second mortgage)

CAFA Capital Advantage Plus Program (CAP Plus)


Freddie Mac HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits may not exceed 80% AMI (determined by Freddie Mac) in order to receive reduced mortgage insurance
  • No Purchase price limits (Use Agency loan limits)
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance is 6% Interest, 20-year amortizing, second mortgage
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for Freddie Mac is 640
  • Eligible area: We will link to the eligible areas on the web page
Offering FICO DPA Lock Rate
Freddie Mac 80% AMI 640 3% 7.250%
4% 8.000%
5% n/a
CAP PLUS – Conventional Over 80% (w/second mortgage)

CAFA Capital Advantage Plus Program (CAP Plus)


Freddie Mac HFA Advantage


  • No first-time buyer requirement
  • Must be principal residence
  • Maximum Income Limits (borrowers will receive standard mortgage insurance)
  • No Purchase price limits (Use Agency loan limits)
  • 70 calendar days from loan reservation to loan purchase (Underwriter Certification 15 calendar days)
  • 1003 Credit qualifying income
  • Assistance is 6% Interest, 20-year amortizing, second mortgage
  • Assistance is a percentage of the total (include MIP) Note amount
  • Maximum DTI 45% with 640-679 FICO
  • Maximum DTI is 50% with 680 FICO
  • Minimum FICO for Freddie Mac is 640
  • Eligible area: We will link to the eligible areas on the web page
Offering FICO DPA Lock Rate
Freddie Mac OVER 80% AMI 640 3% 7.375%
4% 8.375%