chfa home finance 2018 in review

1. chfa home finance2018 in review

2. disclaimer This Disclaimer applies to all content provided through CHFA webinars or other training events.  The training content provided is intended to help explain CHFA’s programs, but should not be relied upon as an alternative to the CHFA Seller’s Guide.  CHFA makes reasonable efforts to ensure that information provided in its trainings is up-to-date and accurate.  If there are any discrepancies between information provided in a training event, including in slide presentations, and CHFA’s Seller’s Guide and/or eNews, the later documents should be relied upon.

3. agenda • 2018 highlights • CHFA market statistics • $500 for 5 campaign • Ahead in 2019

4. 2018 highlights • CHFA hit our goal, serving 8,322 homeowners ($2.1 billion in first mortgages) • Over 13,000 households attended a CHFA-homebuyer education course • CHFA invested $94.1 million in down payment assistance (seconds and grants) • CHFA’s single family first mortgage servicing portfolio sits at 28,495 loans (balance of $5.5 billion)

5. THANK YOU!

6. lenders serving 200+ homeowners

7. 2018 stats • CHFA First Mortgage Loans = $2.1 billion • CHFA MCCs issued = $40,126,698 (161) • CHFA DPA grants = $16,126,719 (19.1%) • CHFA DPA seconds = $77,978,835 (80.9%) • Loan type • Government = 66% • Conventional = 34% (up 41% over 2017) • Most popular program = SmartStep with Silent Second (31.34%)

8. 2018 stats • Average loan amount = $253,807 • up $20K over 2017 • Average credit score = 685 • Average income = $65,287 • Average AMI = 91% • First-time homebuyers = 90%

9. 2018 stats • Income levels • ≤ 80% ami = 33% • 81% - 100% ami = 30% • 101% - 120% ami = 23% • ≥ 121% ami = 14% • Race/Ethnicity • White = 55.9% • Latinx = 34.4% • Black = 6.2% • Asian = 2.3% • Other = 1.3%

10. lower income does not mean lower credit score

11. 2018 stats • Generation • millennials = 60.1% • gen X = 23.1% • baby boomers = 9.1% • mixed generational = 7.7% • Household type • one adult = 21% • single parent = 9% • adults with children = 41% • adults only = 29%

12. 2018 stats • Property type • single family = 77.1% • townhome = 9.3% • condo = 9.2% • manufactured home = 4.1% • (up 41% over 2017) • modular home = 0.3%

13. top 10 counties in production

14. rural counties with increased production

15. chfa customer profiles

17. ahead in 2019 • Growing areas • Colorado Springs • Grand Junction • Pockets of affordability in Denver metro area • Millennials • 100% of those polled wanted to purchase a home in the next two years • We need to bust the 20% down myth • Don’t sell to them – just the facts, please!

18. ahead in 2019 • Latinx community • Largest growing demographic in Colorado • Visit Mi Casa at www.chfainfo.com • New resources and tools (available in Spanish) • Don’t miss an opportunity to create a homeowner, generate a referral, and have repeat business

19. ahead in 2019 • Lowering DPA levels • Grant to 3% of first mortgage loan amount • Second to 4% of first mortgage loan amount • Lender compensation, premiums and fees • Consolidated review • Conduct new focus groups

20. thank you • Request a performance review with your dedicated Business Development Specialist • www.chfainfo.com • customerservicedesk@chfainfo.com • 888.320.3688