Single Family Programs
CalHFA’s Homeownership division opens doors for low and moderate income, first-time homebuyers in California and offers safe, low interest home loan financing to California families.
This past year was another challenging, difficult period for California families, with the double-digit jobless rate and the still-sputtering economy. Nonetheless, the Homeownership division continued to assist first-time homebuyers who benefited from the lowest home prices of the past 20 years.
CalHFA introduced a new loan program, while maintaining its fixed rate mortgages for first-time homebuyers, launching the CalHFA FHA program in November. CalHFA financed 1,014 first mortgage loans with a total value of more than $200 million. This was in addition to issuing more than 2,000 loans for down payment and closing cost assistance.
To raise awareness for CalHFA homeownership programs, the division conducted 26 webinars and attended 108 housing events, with a total of 18,000 attendees, from lenders and local officials to Realtors.
- Developed and launched the CalHFA FHA program.
- Funded 1,750 loans totaling $10.5 million for the California Homebuyer’s Downpayment Assistance Program.
- Issued 998 grants totaling $6.1 million with the School Facility Fee Down Payment Assistance program.
Special Programs Servicing/Administration
- Processed 181 subordination requests for the California Homebuyer’s Downpayment Assistance Program.
- Processed 300 Extra Credit Teacher Home Purchase Program Interest Forgiveness Recertifications.
- Processed 84 School Facility Fee payoff requests.
Affordable Housing Partnership Program
- Approved five new localities and 16 new programs. Localities include cities, counties, housing authorities, nonprofit entities and redevelopment agencies.
- Maintained 292 approved localities with a total of 538 approved programs.
- Financed 29 first mortgage loans totaling $4.5 million, along with locality contributions to borrowers totaling $1.7 million.
- Maintained and administered 46 active lenders.
- Approved six new lenders and 21 lender recertifications.
- 26 new lender applications are in process.
Outreach/Business Development and Training
- Conducted 26 webinars and attended 108 housing events reaching a total of 18,000 attendees.