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- Now with MyHome -

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 06/28/2016
Loans in line Review Date

Compliance

101 June 22

Post-closing

MyHome/ZIP/ECTP

211 June 23

Subordinations

5 June 27

News & Updates

Video Library
Get to know CalHFA and our programs

Program Bulletin #2016-12 Updates to Annual Lender Recertifications

Program Bulletin #2016-11 CalHFA Announces New Options for ZIP Down Payment Assistance and Changes to the MyHome Program

Program Bulletin #2016-10 Acceptance of Mortgage Electronic Registration System (MERS) for all CalHFA Subordinate Loans

Program Bulletin #2016-09 CalHFA Announces Additional Master Servicer

Program Bulletin #2016-08 Clarification to CalHFA's Disclosure Requirements for CalHFA Subordinate Loans

Program Bulletin #2016-07 Increased Income Limits in High Cost Counties for CalHFA Conventional Loan Programs

Program Bulletin #2016-06 CalHFA Releases Updated Lender Manual

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.

Rates & Reservations for Lenders and Realtors

Today's Interest Rates   

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Loan Reservation Process

All CalHFA approved lenders have access to reserve loans thru the CalHFA Mortgage Access System (MAS). Each lender has assigned an MAS Administrator within their own company to manage their employees’ access to MAS. Lenders may have different processes for assigning CalHFA log-ins, passwords, and the reserving of CalHFA loans.

Reservations may be made after a sales contract has been executed between the buyer and seller. Approved CalHFA Lenders may reserve funds on behalf of their correspondent lenders or mortgage brokers. All loans must be reserved thru MAS by the approved lender.

If you have questions, please review the FAQs below, or contact:

California Housing Finance Agency
Single Family Lending - MS 310
500 Capitol Mall, Ste. 400
Sacramento, CA 95814
916.326.8000 or fax 916.324.6589
Email: RateLocks@CalHFA.ca.gov

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Rate Lock Process

First mortgage rate locks will only be accepted between the hours of 8:00 a.m. and 3:00 p.m. PT Monday through Friday, excluding state-recognized holidays, and days that the U.S. financial markets are closed for business.

At the time of reservation the lender will have the option to lock or float the interest rate.

  • All rate locks will be sixty (60) days for both existing/resale properties and new construction properties.
  • For float option only:
    • Lenders may lock the rate at any time during the reservation period if they choose the float option.
    • To lock the rate when the float option is chosen, lenders must complete the Rate Lock Request in MAS.
      • Using the Main Menu go to the Loan Inquiry screen and then the Loan Detail Page.
      • Click on the Rate Lock Request
        • Only users with full access to MAS may lock the loan
        • Rate Locks will only be available for loans at a status 120 (New Reservation) through 440 (Conditional Approval)
    • Rate lock expiration date will supersede the reservation expiration date.
  • All loans must be funded, delivered to and purchased by CalHFA’s master servicer, prior to rate lock expiration.
  • Files should be received by the master servicer by the 45th day, or earlier, of the rate lock period or sooner to ensure time to clear conditions and purchase prior to rate lock expiration.
  • If the rate lock has expired or is cancelled – lender may not re-lock until sixty (60) days after the previous expiration date.

CalHFA subordinate loans reserved with a CalHFA first mortgage

  • All subordinate loan(s) will receive the same reservation, lock and purchase periods as the CalHFA first mortgage. All subordinate loans must be delivered to and purchased by CalHFA prior to the rate lock expiration. 

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Rate Extension Process

All expired CalHFA first mortgage loans and their associated subordinate loans, that have been submitted to CalHFA, regardless of status, will receive an automatic 30-day extension at a cost unless the loan has been previously extended by the lender.

All rate lock extensions must be requested via email from CalHFA’s Secondary Marketing Unit prior to the rate lock expiration date.

  • CalHFA offers extensions in 15 day increments up to a maximum of 60 days total from the original expiration date.
  • The fees for all first mortgage loans will be net funded at the time of purchase by our master servicer.
  • Rate locks for subordinate loans reserved with a CalHFA first mortgage are automatically extended when the first mortgage is extended.
  • The fees for all subordinate loans will be net funded at the time of purchase by CalHFA.
Extension
First Mortgage
ZIP
MyHome or ECTP
15 days
0.1875%
$0
$125
30 days
0.3750%
$0
$250
45 days
0.5625%
$0
$375
60 days
0.7500%
$0
$500

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Loan Reservation FAQs

Do I need to make a reservation in the Mortgage Access System (MAS) before submitting a loan file to CalHFA?

Who should I contact to reserve my CalHFA loan?

When can I reserve my loan in MAS?

Can I reserve my loan before my borrower goes into contract?

What if the borrower changes properties? Can I cancel the existing reservation and re-reserve the loan?

If I need to make changes to my reservation after it has been registered in MAS do I need to cancel the reservation and re-reserve?

My borrower had a loan reservation with another lender, but now they want to go through me. Can I reserve the loan?

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Rate Lock FAQs

How do I lock my interest rate?

During what hours may I lock my loan?

What if the borrower changes properties? Can I cancel the existing rate locked reservation and re-reserve the loan?

Is there a fee to cancel a reservation with either a rate lock or floating interest rate?

How do I print a duplicate Rate Lock Confirmation?

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Rate Extension FAQs

How do I request an extension?

How many days can I extend my loan?

My first mortgage has been purchased by CalHFA's master servicer; however, the subordinates are still suspended/declined. Can I extend only my subordinate loans?

My first mortgage has outstanding exceptions with the master servicer and I need to extend the rate; however, the subordinate loans are a status 527 in the MAS system (approved pending purchase by master servicer). Will I need to extend the subordinate loans too?

If I do not request an extension and my first mortgage and associated subordinate loans have expired what will happen to my rate?

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