Video Library Loan Program Handbooks for Lenders, Real Estate Agents, 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)
Lender Training Video: Conventional First Mortgage Programs
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 - 09/05/2019
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.
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.
FHA Loans (FHA Loan Programs Matrix)
Lender Training Video: FHA First Mortgage Programs
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 - 09/05/2019
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 - 09/05/2019
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 - 03/01/2019
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.
Other Government Loans (Other Government Programs Matrix)
Lender Training Video: CalHFA VA Loan Program
A description of how your clients can benefit from the CalHFA VA Loan Program.
CalHFA VA Loan Program Handbook - 02/01/2019
The CalHFA VA program is a VA-insured loan featuring a CalHFA fixed interest rate first mortgage. This loan is fully amortized for a 30-year term.
Lender Training Video: CalHFA USDA Loan Program
A description of how your clients can benefit from the CalHFA USDA Loan Program.
CalHFA USDA Program Handbook - 09/05/2019
The CalHFA USDA Program is a USDA Guaranteed first mortgage loan program, which can be combined with the MyHome Assistance Program (MyHome) or the School Teacher and Employee Assistance Program (School Program).The MyHome and School Program can be used for down payment and closing cost assistance and are for first-time homebuyers only.
Down Payment Assistance Programs
MyHome Assistance Program Handbook - 09/05/2019
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.
School Teacher and Employee Assistance Program (School Program) Handbook - 09/05/2019
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 (see California Department of Education Public School Directory). Applicants must also be first-time homebuyers. School Program junior loans are up to 4% of the purchase price, and can only be combined with an eligible CalHFA first mortgage loan. School Program subordinate loans can only be used for down payment assistance and/or closing costs. Review the sections below to find out more about the School Program.
Subordination Process For CalHFA Subordinate Loans
Effective July 1, 2019, CalHFA will no longer allow the subordination of any CalHFA down payment or closing costs assistance subordinate loan unless it occurs through a loss mitigation process. In the event there is a need for a subordination during loss mitigation, please have the servicer of the first mortgage contact CalHFA.
CalHFA will permit the subordination of existing CalHFA subordinate loans if homeowners are approved for loss mitigation.
To determine if subordinate lien(s) belong to CalHFA or Keep Your Home California (KYHC), please refer to these examples for clarification.
Process for Reissuance of CalHFA issued Mortgage Credit Certificates (MCC)
CalHFA will permit the reissuance of existing CalHFA Mortgage Credit Certificates (MCC). Within 10 days of closing, the lender must submit the following items to eHousingPlus:
- A corporate or Cashier’s Check for $500 made payable to eHousingPlus (No Personal Checks)
- Reissued Mortgage Credit Certificate Compliance File Checklist (pages 1 and 2); Signed by Corporate Officer responsible for reporting to the IRS
- Copy of the Final Executed Closing Disclosure (CD) for refinanced loan
- Copy of the MCC Certificate Issued to Borrower(s)
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.
The Scenario Calculator helps you compare CalHFA loans to determine what loan scenario works best for your client.
File Review StatusUpdated 10/18/2019
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News & Updates
Dates for November Lender Training have been posted
Program Bulletin #2019-22 - Updated Minimum Credit Score Requirements for All Borrowers
Program Bulletin #2019-21 - Updated CalHFA Subordinate Deed of Trust Reflecting MERS Changes
Program Bulletin #2019-20 - Discontinuation of the Cal-EEM + Grant Loan Program
Enews announcements can be found on our Archived Page