January 10th, 2011
The California Housing Finance Agency, or CalHFA, is a great resource for first-time home buyers in the state. Owning your first home is a dream that this program can help you achieve.
Who qualifies for CalHFA?
All first-time home buyers in the state qualify to receive this loan.
Is it true that you can receive a 3.75% Fixed Rate 30 year loan?
Yes, if you combine your CalHFA with a second loan from CHDAP – California Homebuyer’s Downpayment Assistance Program.
What is the minimum down payment with the 2nd loan from CHDAP?
The down payment can be as low as 1%.
Are seller contributions allowed?
Yes, they are allowed up to 3% of the purchase price of the home.
Mortgage California is an accredited lender of CalHFA, and we are here to help with any questions about this loan program.