The mission of the Homeownership
Division is to provide affordable housing finance
opportunities to low and moderate income first-time homebuyers. This
is accomplished by offering low, fixed interest rate
mortgage products, along with down payment and closing
cost assistance.
CalHFA's Mortgage Insurance
Services Division delivers mortgage
insurance programs to meet the needs of first-time homebuyers,
low and moderate income borrowers and
others who may not qualify for traditional lending programs.(The Cal30
Conventional Program
requires mortgage insurance from an outside provider.)
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. |