Interest rates are in effect on the date listed. The subordinate loan interest rate is calculated as simple interest per annum. All rates shown are subject to change without notice. CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. Fees consumers pay could differ depending on the lender and the program.

¹CalHFA FHA Loan Program Registration and Lock-in Requirements

CalHFA FHA reservations for properties located in a federally designated targeted area will be effective for a maximum of ninety (90) days for existing/resale properties or on hundred twenty (120) days for new construction properties.

• At the time of reservation the lender will have the option to lock or float the interest rate.
• For Float Option only:
• Lenders may lock the rate at any time during the reservation period if they choose the float option.
• To lock the CalHFA FHA rate when the float option is chosen, lenders must complete and submit a Rate Lock Request via the interest rate table above. 
• Interest Rate Lock Requests will be accepted between the hours of 8:00 a.m. and 4:00 p.m. PT Monday through Friday, excluding State-recognized holidays and secondary financial market closures. 
• Rate lock period will be ninety (90) days for both resale and new construction from rate lock date
• If the float option is chosen, the rate lock period will be the remaining term of the reservation on resale properties or
• The lesser of ninety (90) days or the remaining term of the reservation for the new construction properties.
• A one-time thirty (30) day rate lock extension will automatically be granted on conditionally approved loans that are locked, at a cost of 1.00% (100 basis points).
• If the loan is cancelled prior to rate lock, the lender may re-reserve without a fee. The guidelines in effect at the time of the re-reservation apply. If the loan is cancelled after rate lock, and the new reservation/lock has a lower rate, the loan will have a re-reservation fee of 1.00% (100 basis points). If the rate is the same or higher, the re-reservation fee will not apply.

CalHFA FHA loans must be delivered to and purchased by CalHFA prior to the rate lock expiration.

²CalHFA subordinate Loan Program(s) Registration and Lock in Requirements

The subordinate loan interest rate is calculated as simple interest per annum.

• CHDAP may be used for down payment and/or closing cost
• CalHFA subordinate loan with CalHFA first mortgage
• Loan reservation and interest rate lock periods follow the same guidelines as the first mortgage
• CHDAP Stand Alone
• Loan reservation and interest rate lock periods are ninety (90) days for existing/resale properties or one hundred eighty (180) days for new construction properties

Any subordinate loans must be delivered to and purchased by CalHFA prior to the rate lock expiration.