Denver Post, Public Notice to Qualified Homebuyers and Other Interested Persons Colorado Housing and Finance Authority 2015 Mortgage Credit Certificate Program NEW MORTGAGE CREDIT CERTIFICATE PROGRAM: The Colorado Housing and Finance Authority (CHFA) is an authorized issuer for Mortgage Credit Certificates (MCCs) in Colorado. MCCs are a form of federal income tax credits available to qualified homebuyers. No sooner than 90 days following this Notice, CHFA may issue MCCs to qualified homebuyers located within the State of Colorado according to the guidelines noted below. ELIGIBILITY: Homebuyers must meet the eligibility requirements for the Program which presently include: 1. The MCC recipient must occupy the residence as her or his principal residence within 60 days after closing of the mortgage loan. The MCC is automatically revoked on the date that the residence ceases to be the principal residence of the MCC recipient. 2. The MCC homebuyer recipient must not have had a pres- ent ownership interest in a principal residence within the three years preceding the date of acquisition of the resi- dence for which the MCC is used. There are certain excep- tions to the three year requirement. See "FURTHER INFOR- MATION" below. 3. The acquisition cost of the residence being purchased must not exceed certain limits dependant on the location of the property ranging from $265,100 to $417,000. This limit may be adjusted by CHFA in accordance with changes established by the IRS, HUD or as otherwise determined by CHFA. 4. The mortgage loan relating to the MCC must be a new mortgage loan and not a refinancing. 5. The gross annual household income of the recipient of a MCC may not exceed certain limits as established by CHFA from time to time for this MCC Program. Eligibility requirements are subject to change without notice. For further information as to Eligibility - see "FURTHER INFORMATION" below. METHOD FOR ISSUANCE OF MCCs. Purchasers of a new or existing single family home located within the State may apply for an MCC through their lender when they apply for financing for the purchase of their home. While the Program has available Certificates to issue, the MCCs will be issued to qualified persons who meet all requirements of the program and who complete and provide the required documentation. The MCCs will be directly issued by CHFA to qualified homebuyers. For further information as to Method of Issuance - see "FURTHER INFORMATION" below. Banks, savings and loan associations, mortgage companies, credit unions, and other financing institutions and lenders are invited to participate as lenders and advise CHFA of their interest in so participating. For further information as to lender participation - see "FURTHER INFORMATION" below. The implementation of this program is contingent upon the certification of the program by the Executive Director of the Colorado Department of Local Affairs pursuant to C.R.S. 24-32-1703(14). FURTHER INFORMATION: For more information on the CHFA Statewide 2015 MCC Program or, if you are interested in being a lender under the Program, contact the Colorado Housing and Finance Authority, (303) 297-7306 (Denver Area) or 1-800-877-2432 (Colorado outside Denver Area) 1981 Blake Street, Denver, Colorado 80202, on the web at www.chfainfo.com under "Mortgage Credit Certificate (CHFA MCC)". Dated: September 23, 2014 Colorado Housing and Finance Authority By: Cris A. White, Executive Director/CEO
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