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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 10/18/2017
Loans in line Review Date

Compliance

37 Oct 17

Post-closing

MyHome/ZIP/ECTP

100 Oct 16

Subordinations

14 Oct 17

News & Updates

Program Bulletin #2017-12 Closing Document Revisions for MyHome Assistance Program and Extra Credit Teacher Home Purchase Program (ECTP) when combined with a CalHFA Government Insured/Guaranteed First Mortgage

Program Bulletin #2017-11 CalHFA Launches New CalHFA VA Loan Program

Program Bulletin #2017-10 Updated Sales Price Limits

Program Bulletin #2017-09 Updated Income Limits for all CalHFA Conventional and FHA Loan First Mortgage Programs

Program Bulletin #2017-08 Updates to Manufactured Housing Guidelines for All CalHFA FHA Loan Programs

Enews announcments can be found on our Archived Page

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 public 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.

CalHFA Conventional Loan Program Handbook - 08/01/2017
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.

 

CalPLUS Conventional Loan Program Handbook - 08/01/2017
The CalPLUS Conventional program is a conventional first mortgage with a slightly higher fixed interest rate than our standard conventional program. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for closing costs.

 

>> Archived Program Handbooks

 

Government Insured Loans (Government Loan Programs 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.

CalHFA FHA Loan Program Handbook - 10/02/2017
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.

 

CalPLUS FHA Loan Program Handbook - 10/02/2017
The CalPLUS FHA program is an FHA-insured first mortgage with a slightly higher fixed interest rate than our standard FHA program. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for closing costs.

 

Cal-EEM + Grant Program Handbook - 10/02/2017
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.

 

>> Archived Program Handbooks

 

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DOWN PAYMENT ASSISTANCE PROGRAMS

MyHome Assistance Program Handbook - 02/01/2017
Offers a deferred-payment junior loan of an amount up to the lesser of three and half percent (3.5%) of the purchase price or appraised value to assist with down payment and/or closing costs.

 

Extra Credit Teacher Home Purchase Program (ECTP) Handbook - 02/01/2017
This program is for teachers, administrators, school district employees and staff members working for any California K-12 public school, which includes Charter schools and county/continuation schools. Applicants must also be first-time homebuyers. Offers a deferred-payment junior loan of an amount not to exceed the greater of $7,500 or 3.5% of the sales price or in CalHFA-defined high cost areas an amount not to exceed the greater of $15,000 or 3.5% of the sales price. Assistance can be used for down payment.

 

Resubordination Process for CalHFA Junior Loans

*As of February 1, 2017, all resubordination application packages must be submitted electronically. Please refer to the resubordination instructions below.

Recent legislation has enabled CalHFA to resubordinate 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).

To determine if subordinate lien(s) belong to CalHFA or Keep Your Home California (KYHC), please refer to these examples for clarification.

>> Archived Program Handbooks

 

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MORTGAGE CREDIT CERTIFICATE TAX CREDIT PROGRAM

Mortgage Credit Certificate Tax Credit Program Handbook (MCC) - 05/01/2017
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
• MCC Process Flowchart

>> Archived Program Handbooks

 

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.

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