Conventional Loans

CalPLUS Conventional Loan Program 
The CalPLUS Conventional program is a first mortgage loan insured through private mortgage insurance on the conventional market. This loan is fully amortized for a 30-year term and is combined with the CalHFA Zero Interest Program (ZIP) for down payment assistance only. First-time homebuyers can receive more down payment assistance through ZIP Extra.

CalHFA Conventional Loan Program 
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.

Government Insured Loans

CalPLUS FHA Loan Program 
The CalPLUS 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 and is combined with the CalHFA Zero Interest Program (ZIP) for down payment assistance only. 

CalHFA FHA Loan Program 
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. 

Cal-EEM + Grant Program 
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.

 

DOWN PAYMENT ASSISTANCE PROGRAMS

The money you put "down" or the down payment on your home loan can be one of the largest hurdles for many first-time homebuyers. That's why CalHFA offers several options for down payment and closing cost assistance. This type of assistance is often called a second or subordinate loan. CalHFA's subordinate loans are "silent seconds", meaning payments on this loan are deferred so you do not have to make a payment on this assistance until your home is sold, refinanced or paid in full. This helps to keep your monthly mortgage payment affordable.

California Homebuyer's Downpayment Assistance Program (CHDAP) 
Offers a deferred-payment subordinate loan in the amount of (3%) of the purchase price or appraised value, which ever is less to be used for down payment and/or closing costs.

Extra Credit Teacher Home Purchase Program (ECTP) 
Program intended for eligible teachers, administrators, classified employees and staff members working in high priority schools in California. Offers a deferred-payment junior loan of an amount not to exceed the greater of $7,500 or 3% of the sales price or in CalHFA-defined high cost areas an amount not to exceed the greater of $15,000 or 3% of the sales price. Assistance can be used for down payment.

 

If you would like more information on this or other programs that are available for the FIRST TIME HOME BUYER, please give me a call to setup an appointment, so we can discuss this and many other programs, please call me at 760-235-9688