CalHFA

Well it's official we have a blog and I wanted to start things off right by talking about CalHFA. This program is available to all low and moderate income families throughout CA. If you or your client make under the minimum salary requirements and have debt to income ratios of 36%/41% you should qualify for the program.

Now that I have you interested let's talk about the benefits of what CalHFA can do for you. First off a low interest rate that is nearly 0.500% below what the banks are handing out. Secondly they will offer a 30 year silent second simple interest loan of 3% of the sales price to use for the down payment and or closing costs. Buyers are only required to come in with 1% of their own funds at close.

The CAlHFA program is an FHA loan that is only for first time home buyers. The program can also be coupled with local city and county DPA programs that will even offer additional funds to assist those that qualify.

It's important for all potential buyers to speak to someone about the different programs available and what they might qualify for. For further requirements click here