Affordable Housing Partnership Program for the First Time Home Buyers in California

by: Iola Bonggay

The California Housing Finance Agency, more commonly referred to as CalHFA, is an independent agency in the State of California that has been providing financial assistance to low and moderate income Californians in an attempt to help them seek safe, decent and affordable housing opportunities.

The initiatives of CalHFA are constantly guided by its overall agency mission which is to "finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership."

In keeping with this mission, the California Housing Finance Agency has established the Affordable Housing Partnership Program, otherwise known as AHPP.

The Affordable Housing Partnership Program is a housing opportunity that enables first time home buyers in the State of California to seek financial assistance from lending institutions that have formed a partnership with CalHFA for the purposes of this endeavor.

If you wish to submit an application under this program, you should meet the following borrower eligibility requirements:

1) Must be a first time home-buyer (someone who has not owned a home)

2) Must be a legal citizen of the United State, a permanent resident or a qualified alien.
  (continued...)

Affordable Housing Partnership Program for the First Time Home Buyers in California
  Page 2

About The Author Iola Bonggay is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. She also maintains Websites providing resources on home improvement grants and community grants.

Additional Resources

category - Home Buying Programs

California Housing Finance Agency
The California Housing Finance Agency, otherwise known as CalHFA, is an independent, self-supporting agency that was chartered to as the State's affordable housing bank to make low interest rate loans through the sale of tax-exempt bonds; with these bonds being repaid by revenues generated through mortgage loans, instead of taxpayer dollars.

---

Construction Incentive Program for First Time Home Buyers in New York
Under the State of New York Mortgage Agency, the Construction Incentive Program has been established. The goal of this program is to enable the construction of one and two family homes through the provision of funds, up to 97% of the value of the property, to eligible low to moderate income first time home buyers.

---

Down Payment Assistance Loan for First Time Home Buyers in New York
In line with this, The State of New York Mortgage Agency has been running the Down Payment Assistance Loan Program (DPAL) wherein it intends to help first time home buyers overcome the setbacks brought about by down payments and closing costs.

---

Achieving the Dream Program for First Time Home Buyers in New York
One of the programs of the State of New York Mortgage Agency, is the Achieving the Dream Program wherein it seeks to provide eligible low income first time home buyers with really low down payment mortgage financing programs.

---