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The Scenario Calculator helps you compare CalHFA loans to determine what loan scenario works best for your client. (Best viewed in IE9 or higher, Chrome, Firefox or Safari)

File Review Status
Updated 08/26/2016
Loans in line Review Date

Compliance

76 Aug 23

Post-closing

MyHome/ZIP/ECTP

573 Aug 11

Subordinations

7 Aug. 25

News & Updates

Video Library
Get to know CalHFA and our programs

Program Bulletin #2016-16 Update to the CalHFA Mortgage Credit Certificate (MCC) Tax Credit Program Fees

Program Bulletin #2016-15 Expansion of and Updates to the Extra Credit Teacher Home Purchase Program (ECTP)

Program Bulletin #2016-14 Updated Sales Price Limits for the CalHFA Mortgage Credit Certificate Tax Credit Program

Program Bulletin #2016-13 Updated Income Limits for all CalHFA Loan Programs and CalHFA Mortgage Credit Certificate Tax Credit Program

Did You Know?

Lenders receive a 1% Service Release Premium in addition to the origination fee on all CalHFA first mortgages!

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  • MyHome Assistance Program: Down payment and closing cost help for first-time homebuyers
  • CalPLUS with ZIP: 30-year, fixed rate first mortgage packaged with down payment assistance
  • New save energy and money CalEEM + Grant Additional 4% Grant for energy upgrades with a 30year fixed EEM Mortgage. Click for more info.
  • Grade A+ Extra Credit Teacher Program Extra financial help for staff at California's high priority schools. Click for more info.
  • Tax credits- Mortgage Credit Certificate: Lower your taxes with our federal tax credit program. Click for more info.

Loan Program Handbooks for Lenders, Realtors, and Non-Profits

CalHFA has organized its program information into convenient handbooks for easy reference. All the information for a given program—from qualifying criteria to forms & docs—is collected in one easy place. You can print them out for desktop reference, or browse and search them online in PDF format. Get familiar with their layout, and you'll be a CalHFA program whiz in no time.

FIRST MORTGAGE PROGRAMS

Conventional Loans (Conventional Program Matrix)

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Lender Training Video: Conventional First Mortgage Products
A description of how your clients can benefit from CalHFA's Conventional Loan Programs. Don't forget to take the exam after each video for a verification of training.

CalPLUS Conventional Loan Program Handbook
The CalPLUS Conventional program is a first mortgage loan insured through private mortgage insurance on the conventional market. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for down payment assistance and/or closing costs.

CalHFA Conventional Loan Program Handbook
The CalHFA Conventional program is a first mortgage loan insured through private mortgage insurance on the conventional market. The interest rate on the CalHFA Conventional is fixed throughout the 30-year term.

Government Insured Loans (FHA Program Matrix)

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Lender Training Video: FHA First Mortgage Products
A description of how your clients can benefit from CalHFA's FHA Loan Programs. Don't forget to take the exam after each video for a verification of training.

CalPLUS FHA Loan Program Handbook
The CalPLUS FHA program is an FHA-insured loan featuring a CalHFA fixed interest rate first mortgage. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for down payment assistance and/or closing costs.

CalHFA FHA Loan Program Handbook
The CalHFA FHA program is an FHA-insured loan featuring a CalHFA fixed interest rate first mortgage. This loan is fully amortized for a 30-year term.

Cal-EEM + Grant Program Handbook
The Cal-EEM + Grant program combines an FHA-insured Energy Efficient Mortgage first mortgage loan with an additional Cal-EEM Grant, making energy efficient improvements even easier. The interest rate on the Cal-EEM is fixed throughout the 30-year term.

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DOWN PAYMENT ASSISTANCE PROGRAMS

MyHome Assistance Program Handbook
Offers a deferred-payment junior loan of an amount up to the lesser of three percent (3%) of the purchase price or appraised value to assist with down payment and/or closing costs. (MyHome Program Summary)

Extra Credit Teacher Home Purchase Program (ECTP) Handbook
Program intended for eligible teachers, administrators, classified employees and staff members working in high priority schools in California. Offers a deferred-payment junior loan of an amount not to exceed the greater of $7,500 or 3% of the sales price or in CalHFA-defined high cost areas an amount not to exceed the greater of $15,000 or 3% of the sales price. Assistance can be used for down payment. (ECTP Program Summary)

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Lender Training Video: Extra Credit Teacher Program
A description of how your clients can benefit from CalHFA's Extra Credit Teacher Program.

Subordination Process for CalHFA Junior Loans

Recent legislation has enabled CalHFA to subordinate existing junior loans if homeowners meet certain eligibility requirements. This legislation will help existing homeowners keep their homes by allowing them to refinance their existing first mortgage and not be forced to pay off their existing CalHFA junior loan(s).

Please review these instructions for where to submit subordination requests

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OTHER PARTNERSHIP & PROGRAM OPTIONS

Mortgage Credit Certificate Tax Credit Program Handbook (MCC)
A federal credit which can reduce potential federal income tax liability, creating additional net spendable income which borrowers may use toward their monthly mortgage payment. This MCC Tax Credit program may enable first-time homebuyers to convert a portion of their annual mortgage interest into a direct dollar for dollar tax credit on their U.S. individual income tax returns.

• Becoming a CalHFA MCC participating lender
• Access MCC Training
• MCC Participating Lenders

Updates and changes will be announced from time to time via a Program Bulletin ("Program Bulletin" or "Program Bulletins") and Lenders should sign up for Enews announcements and monitor CalHFA’s website for specific Program Bulletin updates and changes to the Program Manual.

Whenever possible, CalHFA will provide its Lenders a five (5) business day notice via a CalHFA Program Bulletin or Enews announcement regarding program and policy changes.

Some exceptions may apply to the notification policy, such as daily interest rate announcements and changes directed by other state (e.g. State Treasurer’s Office), federal (e.g. GSEs, FHA) or private (e.g. Master Servicer and Mortgage Insurance provider) partners who have not allowed sufficient time for a 5-day notification.