Video Library Refinancing Existing CalHFA Loans

Government Loans | Conventional Loans | Down Payment Assistance Programs | Loan Submission | Lender Manual | Refinance

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.

CalHFA Subordinate Loans Cannot Be Subordinated

CalHFA eliminated its subordination program on July 1, 2019. CalHFA now requires all subordinate loans to be paid in full if the first mortgage is refinanced.

CalHFA will permit the subordination of existing CalHFA subordinate loans if homeowners are approved for their servicer’s loss mitigation program.   

To determine if the subordinate lien(s) belong to CalHFA or Keep Your Home California (KYHC), please refer to these examples for clarification.

If a homeowner is already approved for their servicer’s loss mitigation program they may be eligible for subordination as part of the loss mitigation. 

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 logon to the CalHFA MCC web page, click on the REISSUE MCC link for requirements, a fillable Reissued Mortgage Credit Certificate Compliance File Checklist, and upload the following to eHousingPlus:

  • Copy of the Final Executed Closing Disclosure (CD) for refinanced loan
  • Copy of the MCC Certificate Issued to Borrower(s)

CalHFA will permit a MCC to be reissued up to a maximum of six (6) times.

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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.

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Scenario CalculatorLoan Scenario Calculator

The Scenario Calculator helps you compare CalHFA loans to determine what loan scenario works best for your client.

News & Updates

Dates for December Lender Training have been posted

Latest Bulletins

Program Bulletin #2022-10 - Discontinuation of the Forgivable Equity Builder Loan

Program Bulletin #2022-09 - Forgivable Equity Builder Loan Updates to Combined-Loan-to-Value

Program Bulletin #2022-08 - Change in Extension Fees on CalHFA's First Mortgage Loan Products

Latest Enews Announcements

Enews 11/21/22: Program Bulletin #2022-10

Enews 10/19/22: Buydowns - Permanent & Temporary

Enews 10/18/22: Updated ADU Grant Term Sheet

Enews announcements can be found on our Archived Page