CalHFA Helps More Than 7,600 Californians Become Homeowners
In a difficult year, CalHFA continues to help Californians find a place to call home
July 13, 2021
SACRAMENTO — The California Housing Finance Agency continued its work with first-time homebuyers, helping more than 7,600 families from San Diego to Redding-and everywhere in between-purchase a home with a mortgage they could afford in the fiscal year ending June 30.
CalHFA's network of approved lenders worked with thousands of low- and moderate-income families to find homes that made sense for their budgets. Families and our business partners persevered through COVID restrictions on open houses, fully-masked document signings on outdoor card tables and a very tough housing market that saw home prices rising rapidly. Nonetheless, we were able to make a difference.
As a cherry on top of the sundae, CalHFA celebrated June as National Homeownership Month by sending coupons for free homeownership counseling to our Preferred Loan Officers, making it a little easier for their clients to get important homebuyer education.
The U.S. Department of Housing and Urban Development has conducted studies showing that homebuyers who complete education courses like these have a much higher likelihood of keeping current on their loans and avoiding defaults or foreclosures.
In addition to our work helping families find their first homes, CalHFA is also attacking the effects of COVID on the housing market from other angles.
"It's not enough to help people buy their first home," said Don Cavier, CalHFA’s Acting Executive Director. "We also feel an obligation to help people stay in the homes they already have, or make sure they’re stable and solid with a consistent place to live."
Through CalHFA's National Mortgage Settlement Housing Counseling Program, we are working with more than 80 housing counseling agencies across the state to provide free housing counseling to people who are worried about paying their rent or mortgage. Since the effort's start just a few months ago, more than 5,500 families have spoken with a housing counselor to work through their finances and learn about options that can help their individual situation. More information about free counseling can be found at CalHFA's NMS website.
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The California Housing Finance Agency was created in 1975 with the goal of helping more Californians find a place to call home. CalHFA's Single Family Lending Division has invested more than $32.6 billion to help more than 201,000 families buy their first home with a mortgage they can afford. CalHFA is a self-supporting state agency that doesn't rely on taxpayer dollars to fund its operations. For more information on CalHFA programs, and how we are creating progressive financing solutions for affordable housing in California, visit www.calhfa.ca.gov or call toll free at 877.9.CalHFA (877.922.5432).
Contact: Eric Johnson