CalHFA FHA Loan
The CalHFA FHA loan program is designed to enhance affordability and
home ownership opportunities by offering a low, fixed interest rate that
will not change during the entire loan term. This program is intended
for first-time home buyers who meet specific income and sales price
requirements and who are purchasing a new or existing home anywhere in
California.
Borrower must be a first-time homebuyer purchasing a primary residence intended for owner-occupancy.
A borrower is considered a first-time homebuyer if they have not owned and occupied a home in the past three (3) years.
How The Program Works
The CalHFA FHA offers financing up to 96.5% of the purchase price or
appraised value whichever is less. To make owning your first home even
more affordable, down payment and closing cost assistance may be
obtained when combining this CalHFA first mortgage with CalHFA junior
loan programs such as the California Homebuyer’s Downpayment Assistance
Program (CHDAP). The CHDAP can be used for closing cost or down payment
assistance. A minimum contribution towards down payment of 1% of the
sales price is required from the borrower(s) own funds. Call Mountain Trust Mortgage & Realty at (858) 376-1299 to find out if you qualify for this outstanding California first-time buyer
homeowner program. |
