|
CHFA home loans are processed by the California Housing Finance Authority. This program was developed in an effort to provide down-payment assistance for first time homebuyers in California with 100% financing options. It is actually two loans with a 97% FHA loan with the 1st mortgage and a 3% loan with a 2nd mortgage provided by CHFA.
The CHAFA mortgages are only available to low-income homebuyers in California. Review this PDF that outlines the guidelines for income criteria for CHFA home loans.
Qualified CHFA borrowers must agree to live in the proposed home. No vacation or 2nd home financing is allowed with CHAFA loans. Borrowers also must meet the 1st time home-buyer criteria as outlined by FHA.
Please complete the basic form below and one of our home lenders will contact you shortly to discuss home loan options.
|
