FIRST MORTGAGE LOAN PROGRAMS

CalHFA Conventional Loans

• 30-Year Fixed Mortgage
  This conventional mortgage loan offers up to 95% financing with a 30-year term and a low, fixed interest rate.

Government Insured/Guaranteed Loans

• 30-Year Fixed Government Insured/Guaranteed Mortgage
  This program is for mortgage loans that are insured or guaranteed by FHA, VA or USDA and features a 30-year term with a low, fixed interest rate.

Real Estate Owned (REO) Loan Programs

• CalHFA Community Stabilization Home Loan Program
  This program helps first-time homebuyers purchase vacant homes that are owned by participating financial institutions in certain areas of California.

DOWN PAYMENT ASSISTANCE LOAN PROGRAMS

• Affordable Housing Partnership Program (AHPP)
  A joint effort by CalHFA and cities, counties, redevelopment agencies and housing authorities whereby a deferred payment subordinate loan from a locality is utilized by the first-time homebuyer to assist them with down payment and/or closing costs.

• California Homebuyer's Downpayment Assistance Program (CHDAP)
  Offers a deferred-payment junior loan of an amount up to the lesser of three percent (3%) of the purchase price or appraised value.

• Extra Credit Teacher Home Purchase Program (ECTP)
  A low interest rate CalHFA first loan, together with a forgivable interest CalHFA junior loan to assist eligible teachers, administrators, staff members and classified employees to purchase their first home.

• School Facility Fee Down Payment Assistance Program (SFF)
  A conditional grant program that provides assistance to buyers of newly constructed homes throughout California.

OTHER PARTNERSHIPS AND PROGRAM OPTIONS

• HomeOpeners®, a Mortgage Protection Program
  This program helps borrowers pay their mortgage in the event of involuntary job loss.  HomeOpeners is offered as part of primary mortgage insurance at no additional cost to the borrower or lender.

• HUD - Section 8 Housing Choice Voucher Program
  Enables qualified first-time homebuyers to receive monthly assistance for homeownership expenses in lieu of monthly rent aid.

Homebuyers interested in applying for financing should contact one of CalHFA's approved lenders.

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. CalHFA purchases closed loans that meet CalHFA's requirements. The fees consumers pay could be different depending on the lender and the program.