CalHFA partners with over 300 localities (cities,
counties, housing authorities, nonprofit entities, and redevelopment
agencies) to offer the AHPP. This program is intended for low income
first-time homebuyers who meet specified income limits and who are purchasing
a new or existing home anywhere in California.
How The Program Works
Low income borrowers who obtain direct financial assistance – such
as down payment and closing cost funds – using a Pre-Approved
Locality Program, may be eligible for a reduced interest rate on
their CalHFA first mortgage loan.
(The low income reduced interest rate is not available on the CalHFA interest
only PLUSSM or the 40-Year Fixed Mortgage
loan programs.)
Program Elements
Requirements |
Details and Reference Sources |
First-Time Homebuyer
|
Borrower must be a first-time homebuyer purchasing a primary residence intended
for owner-occupancy.
|
Income Limits |
Refer to CalHFA’s income limits established for the county in which the borrower is purchasing. |
Sales Price Limits |
Refer to CalHFA’s published
sales
price limits for the county in which the borrower is purchasing. |
Citizenship |
Be a U.S. citizen, permanent resident
alien or other qualified alien |
Property Eligibility |
|
Available Through Localities and Approved Lenders
|
Refer to the Locality or CalHFA’s approved
lender list for a lender in your area. |
Other Requirements |
Must qualify for and meet the requirements of the CalHFA first mortgage loan,
the lender, and the mortgage insurer/guarantor. Other program requirements may
apply; please contact an approved
lender for more details. |
For More Information
To learn more about AHPP, contact us at:
CalHFA Homeownership Division
P.O. Box 4034 , Sacramento, CA 95812
Phone: 877.9.CalHFA
Email: homeownership@calhfa.ca.gov
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.
View
the sample Truth in Lending disclosure here.
|