The home buying market in California is tough. As a first time homebuyer without a non-occupant co-borrower or co-signer, can you really afford to purchase a home? Thanks to agencies like CAL-HFA, home ownership is possible with 100% financing.
CAL-HFA Program Requirements
*640 minimum FICO score
*Maximum debt-to-income ratio
*FHA, VA and Conventional loans available
*Non-occupant co-borrowers or co-signers are not allowed
Benefits of a CAL-HFA Loan
*0% interest program for down payment
*Lower Private Mortgage Insurance pricing
*First-Time Homebuyer, Teacher and School Employees eligible
*Limited FHA 203k for minor repairs only, no structural. Eligible $35,000 for minor repairs along with closing costs and down payment assistance.
Work with a CAL-HFA approved broker for wholesale pricing.
*24-48 hour pre-qualification
*Work with pre-approved brokers offering wholesale pricing
*Single Family Residences, Condos and Manufactured Homes eligible
*Ask your mortgage broker about California sales price limits in your county and the Fannie Mae Loan Limit
*Request the income limits in your area with a mortgage professional.
*We offer a free, no-obligation consultation for loans in California