Since December 1, 1993, the Agency has operated a very successful "over-the-counter" Single Loan Reservation System, where approved CalHFA lenders can, on any date, lock in an interest rate for a loan to be delivered in the following 90 days for resale homes or 180 days on new construction for NO FEES. The SL Process can be used for both new construction and resale loans. CalHFA has been able to remain consistently low rates and thus provide an "open window" of affordability for first-time homebuyers. Lenders have made full utilization of the program to reach first-time homebuyers in the marketplace.

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.