How The Cal HFA Program Works 

You can get financing of up to 105% of your home’s purchase price or the appraised value – whichever is lower – through the CalHFA FHA. What’s more, there are opportunities to get closing cost and down payment assistance if you combine your CalHFA mortgage with a CalHFA junior loan program.

There aren’t any first time homebuyer requirements to meet, but when it comes time to close escrow you cannot be the owner of any other homes. Plus, your FICO score must be at least a 640, or a 660 if you are purchasing a manufactured home. Remember, in order to qualify you have to finish your first time homebuyer course and have the signed certificate delivered directly to us.

• Online: http://ehomeamerica.org/calhfa

• In Person: http://www.calhfa.ca.gov/homebuyer/calhfa_neighborworks_america.pdf orhttp://hud.gov/offices/hsg/sfh/hcc/hcs.cfm?weblistaction=summary

• Refer to CalHFA’s income limits established for the county in which the property is located. http://www.calhfa.ca.gov/homeownership/limits/income/income-moderateFHA.pdf

• Refer to CalHFA’s published sales price limits for the county in which the property is located. http://www.calhfa.ca.gov/homeownership/limits/salesprice/salesprice.pdf

• Be a U.S. citizen, permanent resident alien or other qualified alien.

• Existing single family, one-unit residence, including condominium/PUDs and Manufactured Housing(Certain Restrictions Apply) Leaseholds/Land Trusts are not allowed with this program.

• CalHFA offers the California Homebuyer’s Downpayment Assistance Program (CHDAP) which can be used for down payment and/or closing cost assistance.

• CalHFA has partnered with over 300 local agencies under the Affordable Housing Partnership Program (AHPP) which can be combined with the CalHFA FHA for down payment and closing cost.

• Homebuyer education is required for each CalHFA borrower.