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 Products
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 - 03/01/2019
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.
Government Insured Loans (Government Loan Programs Matrix)
Lender Training Video: FHA First Mortgage Products
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 - 03/01/2019
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 - 03/01/2019
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.
CalHFA VA Loan Program Handbook - 03/01/2019
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 VA Loan Program
A description of how your clients can benefit from the CalHFA VA Loan Program.
Down Payment Assistance Programs
MyHome Assistance Program Handbook - 03/01/2019
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 - 03/01/2019
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. 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.
Resubordination Process For CalHFA Subordinate Loans
Effective July 1, 2019, CalHFA will no longer allow the resubordination 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 resubordination during loss mitigation, please have the servicer of the first mortgage contact CalHFA.
CalHFA will permit the resubordination of existing CalHFA subordinate loans if homeowners meet certain eligibility requirements. Permitting resubordination allows existing homeowners the opportunity to take advantage of refinancing their existing first mortgage, without being required to pay off their existing CalHFA subordinate loans.
To determine if subordinate lien(s) belong to CalHFA or Keep Your Home California (KYHC), please refer to these examples for clarification.
Mortgage Credit Certificate Tax Credit Program
As of November 17, 2017, a Mortgage Credit Certificate (MCC) may not be used for credit qualifying purposes for any CalHFA first mortgage loan.
CalHFA is not seeking additional MCC Tax Credit Program allocation in 2018 or beyond. CalHFA estimates that the overall allocation from past years is expected to run through the end of 2018. CalHFA-approved lenders may continue offering and reserving MCCs on the eHousingPlus Lender Portal. The availability of funds can be found in real-time on eHousingPlus Lender Portal.
Mortgage Credit Certificate Tax Credit Program Handbook (MCC) - 06/25/2018
A federal credit which can reduce potential federal income tax liability, creating additional net spendable income which borrowers may use toward their monthly mortgage payment. This MCC Tax Credit program may enable first-time homebuyers to convert a portion of their annual mortgage interest into a direct dollar for dollar tax credit on their U.S. individual income tax returns.
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 02/20/2019
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News & Updates
Dates for March Lender Training have been posted
Program Bulletin #2019-08 - Lower Interest Rates for Conventional Loans with no Subordinates
Program Bulletin #2019-07 - CalHFA to Add a 2% ZIP Option and Eliminate the 4% ZIP Option
Program Bulletin #2019-06 - CalHFA to Offer Lower Interest Rates on Conventional First Mortgages for Certain Eligible Borrowers
Program Bulletin #2019-05 - New Borrower's Affidavit and New Restriction on Non-Occupant Co-Signors
Program Bulletin #2019-04 - New Interest Rate for the MyHome and School Program
Program Bulletin #2019-03 - One Promissory Note and One Deed of Trust for All CalHFA Subordinate Loans
Enews announcements can be found on our Archived Page