Disaster Rebuilding Assistance Program

Program Highlights

Construction Loan Rate Buy Down: Provides construction loan rate buydowns to expand homeowner access to construction and renovation loans. With this program, lenders may seek reimbursement for lender-funded temporary and permanent rate buydowns on eligible construction loans made to eligible borrowers.

Construction Loan Loss Guarantee Fund: Provides a construction loan loss guarantee fund to expand homeowner access to construction and renovation loans. With this program, lenders are provided with coverage on eligible losses on construction or renovation loans made to eligible borrowers.

How to become an Approved Lender

Existing CalHFA Approved Lenders

Existing CalHFA approved lenders that are currently in good standing shall follow a streamlined onboarding process due to their existing relationship with CalHFA and prior completion of lender approval requirements.
Required Documentation
• Lender Application
• Construction Loan Overview & Production Metrics Report (2 Year History)
• Lender Participation Agreement
• Wire Transfer Authorization Form or Confirmation of Wire Transfer Authorization Form on file
Fannie, Freddie or FHA Approved New Lenders

New lenders that are Fannie, Fredde or FHA approved lenders are subject to a comprehensive application review and due diligence process.
Required Documentation
• Lender Application
• Lender Application Fee
• Company History, Operations, Organizational Chart
• Construction Loan Production Metrics Report (2 Year History)
• Lender Participation Agreement
• Mortgage Purchase Master Agreement (if applicable)
• Wire Transfer Authorization Form
• Certificate of Authority & Specimen Signatures
• Fannie, Freddie, and FHA approval letter
• Certificate of Insurance
• Form W-9
CDFIs & Non-Fannie, Non-Freddie or Non-FHA Approved Lenders

Community Development Financial Institutions (CDFIs) certified by the U.S. Department of Treasury, and other lenders not approved by Fannie, Freddie or FHA, may participate in the program but will be subject to enhanced application review and due diligence process
Required Documentation
• Lender Application
• Lender Application Fee
• Company History, Operations, Organizational Chart
• Construction Loan Production Metrics Report (2 Year History)
• Lender Participation Agreement
• Mortgage Purchase Master Agreement (if applicable)
• Marketing Plan
• 2 years of Audited Financials
• Wire Transfer Authorization Form
• Certificate of Authority & Specimen Signatures
• Policies & Procedures: Underwriting, Secondary Marketing, QA/QC, Appraisal Independence Requirements, Construction Management, Loan Servicing
  • Third Party Service Contracts (if applicable)
• Certification by Department of Treasury (if applicable)
• Certificate of Insurance
• Form W-9

Lender Documents

• Disaster Rebuilding Assistance Program Lender Participation Agreement
• Disaster Rebuilding Assistance Program Wire Instructions Document
• Disaster Rebuilding Assistance Program Application
• Certificate of Authority & Specimen
• Disaster Rebuilding Assistance Program Income Limits

Loan Loss

• Disaster Rebuilding Assistance Program Loan Loss Submission Checklist
• Disaster Rebuilding Assistance Program Loan Loss Termsheet
• Disaster Rebuilding Assistance Program Eligible Lender Losses

Rate Buydown

• Disaster Rebuilding Assistance Program Rate Buydown Submission Checklist
• Disaster Rebuilding Assistance Program Rate Buydown Termsheet
• Disaster Rebuilding Assistance Program Borrower Affidavit & Certification
• CalHFA's State Reporting Disclosure

Please return all completed documents and required attachments by:

Electronic Submission (Preferred):

To send an application please contact lendertraining@calhfa.ca.gov and instructions for submitting an application will be emailed to you using SecureSend.

Original application & cashier check must be sent overnight

Overnight Delivery Address:

California Housing Finance Agency
Single Family Lender Services– MS 915
500 Capitol Mall, Ste. 400
Sacramento, CA  95814

For additional information about this subject, please contact Molly Ellis at 916.326.8680 or Catherine Relyea at 916.326.8077 or by email at LenderTraining@calhfa.ca.gov.

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Program Outreach & Marketing Materials

Complete Toolkit

Download the toolkit that has program overview, flyers, FAQs, and sample social media posts.

Flyers

Program Flyer: English | Spanish

Social Media

Social Media Materials

COPY	GRAPHIC
CalHFA has launched the Disaster Rebuilding Assistance Program to help make financing more accessible for California homeowners rebuilding after a disaster. The program offers financing tools, such as interest rate buydowns, to help reduce the cost of rebuilding and improve loan options for low- to moderate-income homeowners. Find a participating lender: [insert link or link in bio]
CalHFA’s Disaster Rebuilding Assistance Program is designed to help make financing more accessible for homeowners rebuilding their homes. The program offers financing tools, such as interest rate buydowns, to help reduce rebuilding costs, connect homeowners with participating lenders, and improve loan options for low- to moderate-income households. Find a participating lender: [insert link or link in bio for IG]
CalHFA continues to support California homeowners through every stage of disaster recovery. The Disaster Rebuilding Assistance Program provides support for the next phase: rebuilding. The program is designed to increase the accessibility of financing for disaster survivors rebuilding their homes. Find a participating lender: [insert link or link in bio for IG]

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