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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 09/26/2016
Loans in line Review Date

Compliance

83 Sept 20

Post-closing

MyHome/ZIP/ECTP

329 Sept 15

Subordinations

21 Sept. 22

News & Updates

Video Library
Get to know CalHFA and our programs

Program Bulletin #2016-17 CalHFA Adds Additional Rate Lock Option

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 public schools. Click for more info.
  • Tax credits- Mortgage Credit Certificate: Lower your taxes with our federal tax credit program. Click for more info.

Program Summaries

CalHFA understands that most real estate agents will not need all of the extensive details that we offer in our loan program handbooks available to our loan officers and brokers. That's why we've created these simple, printable summary sheets just for you.

FIRST MORTGAGE PROGRAMS

Conventional Loans

CalPLUS Conventional Loan Program Summary
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 Summary
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

CalPLUS FHA Loan Program Summary
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 Summary
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 Summary
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.

DOWN PAYMENT ASSISTANCE PROGRAMS

The money you put "down" or the down payment on your home loan can be one of the largest hurdles for many first-time homebuyers. That's why CalHFA offers several options for down payment and closing cost assistance. This type of assistance is often called a second or subordinate loan. CalHFA's subordinate loans are "silent seconds", meaning payments on this loan are deferred so you do not have to make a payment on this assistance until your home is sold, refinanced or paid in full. This helps to keep your monthly mortgage payment affordable.

MyHome Assistance Program Summary
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.

Extra Credit Teacher Home Purchase Program (ECTP) Summary
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.

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