CalHFA First-Time Homebuyer Program - Overview
This is a good summary of the CalHFA First-time Homebuyer Program, which we at PRW Lending can do on homes in California. We are located in Riverside county, in Murrieta, in case you or your client likes to come by with documents rather than do everything by fax and email.
Rates are at historically low levels, in addition to the incentive provided by the CalHFA program here, so please read on:
CalHFA First-Time Homebuyer Program
- Affordable 30-Year Fixed Rate Mortgage
- Down payment assistance available to 99% when using FHA loan with CHDAP program
- Minimum fico score of 620
- Must be a first time homebuyer (defined as anyone that has not owned a home in the last three years)
- On a large enough loan amount where 3% seller contribution covers all of the closing costs, the borrower would only need 1% to close at a reduced rate
- Single Family residence, condo and townhome
- (no manufactured homes)
- Homebuyer Counseling required
- Must be Owner Occupied
- Citizenship Requirement
- Income and sales price limits apply
INCOME LIMITS by county
Los Angeles
San Bernardino/Riverside
Orange
San Diego
Buyer or Selling - We can help! Contact us today!
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If you are interested in determining the value of your home, click the "Home Evaluator" link for a free evaluation report: http://janinekirchnavy.housingtrendsenewsletter.com/dispContent.cfm?loadid=2&loadtype=0
I'd be happy to help!
Sincerely,
Janine Kirchnavy
Broker Associate
License #01048899
Office 909-945-3662
10700 Jersey Blvd, #400
Rancho Cucamonga CA 91730
Email: Janine@AtlasRE1.com
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