CalHFA Down Payment Assistance Loan
DETAILS: The mininum fico score for the Calhfa loan is 660. This loan allows you to purchase a single family home, town homes, and select condos, and manufactured homes. The maximum DTI (Debt to income ratio) is lower with this loan which would have you qualify for less than Conventional and FHA loans.
This option is available for first time home buyers only and provides up to $11,000 in down payment assistance in the form of a 2nd loan with low interest and up to 3% of your loan amount to help cover closing costs in the form of a 3rd loan with zero intrest. Neither assistance loan requires repayment until you either sell, refinance, or pay the home off. For more details reach out to us!
This calculator is provided for informational purposes only and is not a commitment to make a loan, nor should it be construed as lending advice. Loans are subject to borrower qualifications, including income, property evaluation, sufficient equity in the home to meet LTV requirements, and final credit approval. Approvals are subject to underwriting guidelines, interest rates, and program guidelines, and are subject to change without notice based on applicant’s eligibility and market conditions. NMLS#1533396