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CalHFA Reduces Interest Rates – August 8th, 2008

Posted on 10. Nov, 2009 by in CalHFA First Time Buyer, Down Payment Help, State Assistance Programs

In such a volatile market as we’re in right now, on a day when conventional interest rates went up .125%, The California Housing Finance Agency in an unprecedented announcement reduced interest rates across the board. Rate Reductions are as follows: 30 Year Fixed Moderate Income Areas Reduced .125% to 6.75% Low Income Areas Reduced .25% [...]

California Housing Finance Agency Suspends Programs / Down Payment Assistance

Posted on 09. Nov, 2009 by in CalHFA First Time Buyer, Down Payment Help, State Assistance Programs

September 23rd, 2008 - In a shocking move today CalHFA temporarily suspends  most of thier first time home buyer programs leaving only the 30 year fixed and the Extra Credit Teacher Program: Effective immediately and until the financial markets stabilize, the following CalHFA first mortgage products are temporarily unavailable: • 35-Year Fixed Rate Mortgage – interest [...]

California Housing Finance Agency – CalHFA Federally Designated Targeted Areas

Posted on 28. Aug, 2009 by in Down Payment Help, State Assistance Programs

There are some definite advantages to purchasing a home in one of California’s Targeted Areas. Thirty-three of California’s 58 counties have targeted areas – with Los Angeles having almost half. Purchasing a home in these areas allows greater flexibility for buying a home. What is a Targeted Area? Areas that are “targeted” by the Federal [...]

California Housing Finance Agency – CalHFA Property Requirements

Posted on 28. Aug, 2009 by in Down Payment Help, State Assistance Programs

The CalHFA program is available on a statewide basis; however, not all properties are eligible throughout the state. The property requirements and restrictions are listed below: Priced at or below the limits established by CalHFA for new or existing homes (income and sales price limits slightly higher in Federally designated Targeted Areas). Either a newly [...]

California Housing Finance Agency – CalHFA Borrower Requirements

Posted on 28. Aug, 2009 by in Down Payment Help, State Assistance Programs

In order to qualify for a CalHFA loan, certain eligibility requirements must be met. They are: Be a first-time homebuyer, which is defined as a person(s) who has not had an ownership interest in their primary residence during the previous three years. (Requirement is waived if property is located in a Federally designated “Targeted Area*”. [...]

Video – Webinar: A Complete Guide to CalHFA’s Cal30 & CHDAP Down Payment Assistance Program

Posted on 14. Jul, 2009 by in Down Payment Help, State Assistance Programs, Video Library

The Cal30 Conventional first mortgage features a fixed interest rate, fully amortized loan over a 30-year term. It has a maximum Loan-to-Value (LTV) of 95% and a maximum total Combined-Loan-to-Value (CLTV) of 102% The California Homebuyer’s Downpayment Assistance Program (CHDAP) is a deferred payment, simple interest rate junior loan. The CHDAP loans are available up [...]

How to use the CalHFA CHDAP loan to lower your mortgage payments

Posted on 29. Jun, 2009 by in Home Buyers

down payment assistance

4/4/11 NOTE: FHA mortgage insurance premiums have changed since this was first published June 29th, 2009.  Disregard the specific dollar amounts in the examples, the strategy is still as effective. Down payment and closing cost assistance programs seem to be a rarity in today’s strict lending market.  With the reinstatement of the CalHFA California Homebuyer [...]

CalHFA Announces 100% Financing, Discount Rates, Discount PMI on Bank Owned Homes in Hardest Hit California Cities – CalHFA Community Stabilization Home Loan Program

Posted on 19. Jun, 2009 by in Down Payment Help, State Assistance Programs

July 23rd 2008 – JUST RELEASED! This information can be found on the CalHFA Website Here This conventional first mortgage loan program features a below market, 30-year, fixed interest rate, fully amortized loan reserved for REO properties of participating financial institutions. It has a maximum LTV limit of 100% and may be used with CalHFA’s [...]

CalHFA Announces New Program – Cal30 Conventional Loan Program

Posted on 14. Jun, 2009 by in Down Payment Help, State Assistance Programs

New On-line Class:  A Complete Guide to the CalHFA – Cal30 and CHDAP Loans – Register Here to Attend CalHFA Annunces a new 30 year fixed loan program this week for First Time Homebuyers.  This Cal30 Conventional first mortgage features a fixed interest rate, fully amortized loan over a 30-year term. It has a maximum [...]

Who Qualifies for a CalHFA Extra Credit Teacher Program Down Payment Assistance Loan

Posted on 29. Jul, 2008 by in Down Payment Help, State Assistance Programs

calhfa-logo

The Extra Credit Teacher Program provides for a 3% loan that can be used for down payment assistance for California Teachers that work in high priority schools.  The interest on this loan is waived after 3 years of working in a high priority school.  There are no payments due on this loan until you either [...]

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