Down Payment Help | Homeownership University

CalHFA CHDAP Makes Buying a Home Even Easier?

Posted on 05. Mar, 2012 by Scott Schang in CalHFA CHDAP

Exciting news coming from the California Housing Finance Agency on March 1st, 2012 regarding the CHDAP homebuyer assistance program. CHDAP stands for California Home Buyer Assistance Program and offers 3% of the purchase price of the home to qualified first time homebuyers that can be used for down payment or closing costs. What’s new? Minimum [...]

5 Creative Down Payment Sources for Homebuyers

Posted on 09. Jan, 2012 by Scott Schang in Down Payment Help, Home Buyers

Home prices continue to drop, interest rates continue to flirt with 40 year lows, and yet the barrier of entry for many home buyers is the down payment. Coming up with the down payment to buy a home is one of the most common reasons buyers give for not jumping into this historically affordable housing [...]

The Cost of Not Getting a Second Opinion?

Posted on 29. Sep, 2011 by Christopher "Doc" Apodaca in CalHFA CHDAP, CHF Platinum Grant, Consumer Protection

Getting a second opinion saved this homebuyer thousands of dollars! The cost of a second opinion? Nothing. Brenda Borrower called me a little puzzled. Brenda told me that she had applied for a mortgage with her lender and he said she could get free money from the state without paying it back. When she told [...]

First Time Home Buyer Down Payment Assistance Program for Orange and Los Angeles County

Posted on 25. Sep, 2011 by Scott Schang in County Assistance Programs, Down Payment Help

UPDATED: 10/20/2011 – SCHFA is UNAVAILABLE Program Funds have run out! ABOUT SCHFA Southern California Home Financing Authority (SCHFA) is a joint powers authority between Los Angeles and Orange Counties formed in June 1988 to issue tax-exempt mortgage revenue bonds for low- and moderate-income First-Time Homebuyers. This program makes purchasing a home more affordable for [...]

CalHFA CHDAP and CHF Platinum – Together Again?

Posted on 19. Sep, 2011 by Scott Schang in CalHFA CHDAP, CHF Platinum Grant

Last week, CalHFA waived a requirement that made getting CHDAP assistance just a little bit harder. For several months now, CalHFA required that at least half of a lender’s CHDAP loans MUST be used with a CalHFA first mortgage. This created challenges because there are certain aspects of a CalHFA first mortgage that do not [...]

CHF Home Buyer Grant is better than 2011 Tax Credit?

Posted on 04. Jul, 2011 by Scott Schang in CHF Platinum Grant, Tax Credit

Is the CHF Platinum home buyer grant really a 2011 tax credit? Actually, it’s better than a home buyer tax credit – much better. Let me explain. The home buyer tax credit offered $8,000 to first time home buyers that purchased within a specific period of time. The cut-off period for the tax credit was [...]

CalHFA Programs Help California Home Buyers With Special Loans And Down Payment Assistance

Posted on 30. May, 2011 by in CalHFA CHDAP, Video Library

Rodil San Mateo interviews Sharyl Silva with the California Housing Finance Agency (CalHFA). CalHFA helped sponsor a Home Builder Showcase hosted by the Contra Costa Realtor Association’s Young Professional Network (YPN). Silva describes several CalHFA programs that can help California home buyers with special loans and down payment assistance.

CHF Platinum Homebuyer Grant with CHDAP?

Posted on 09. May, 2011 by Scott Schang in CalHFA CHDAP, CHF Platinum Grant

I’ve written about the CHF Platinum homebuyer grant quite a bit. I’ve also written about the CHDAP program, which is another program I love. So Happy Together There’s a magic sweet spot with these two programs that John Evans pointed out that we absolutely have to talk about…so, here it goes. The CHF Platinum program [...]

CHF Platinum Homebuyer Grant – The Good, Bad and the Ugly

Posted on 11. Apr, 2011 by Scott Schang in CHF Platinum Grant, Home Buyers

The CHF Platinum Homebuyer Grant has been on our radar since it was introduced in September, 2010. I have been watching the program to determine whether it’s good, bad or ugly. Today I am going to give you a snap shot of my current opinion of the benefits and costs of the program. The Good [...]

CalHFA FHA Government Loan for First Time Home Buyers UPDATED!

Posted on 03. Feb, 2011 by Scott Schang in CalHFA First Time Buyer, FHA Home Loan, State Assistance Programs

The California Housing Finance Agency (CalHFA) has added a new FHA government loan program for first time home buyers. CalHFA is the State of California’s first time home buyer program for the past 35 years. The program was chartered as the State’s affordable housing bank to make low interest rate loans through the sale of [...]

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