ABOUT
CALHFA is a Shared Appreciation Loan that provides down payment assistance to qualifying homebuyers. This loan program is used with the Dream for All Conventional first mortgage, which provides first-time homebuyers up to 20% of the home purchase price or $150,000, whichever is less, to be put towards the down payment and/or closing costs.
Upon sale or transfer of the home, the homebuyer repays the original down payment loan, plus a share of the appreciation in the value of the home.
The repayment is then used to fund future homebuyers down payment.
REQUIREMENTS
- First-time homebuyer
- FICO score 680+
- Meet CalHFA income limits
- Primary residence
- Complete homebuyer education
counseling - Property Located anywhere in the State
of California - Single-Family Homes, some manufactured
homes, and certain condominiums are permitted
Contact us to schedule your pre-approval which is needed in order to register for the Dream For All voucher beginning in April, 2024.
Direct Lender | NMLS #941606 | 15650 Devonshire St. Suite 202 Granada Hills CA 91344 | www.simplymtg.com
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