California Homebuyer's Downpayment Assistance Program for First Time Home Buyers
Page 2

b) A legal citizen of the United State, a permanent resident or a qualified alien.

c) Satisfy the credit, loan, and income requirements that are set by CalHFA and the mortgage insurer

d) Able and willing to live in the AHPP-financed home until the end of the loan or until the house is refinanced or sold.

e) Willing to participate in a home buyer counseling program and must a have a certificate to verify it.

f) If the borrower is not a first time home buyer, he should be a veteran or a someone who is trying to acquire a home at a federally designated targeted area.

In terms of the property eligibility requirements, the borrower must choose a home that is:

1) Located in the State of California

2) Capable of becoming the borrower's primary residence

3) Priced within the limits set by CalHFA

4) Not larger than 5 acres

5) Categorized as a single family residence

6) A condominium or a unit in a planned unit development

In addition, borrowers under the CHDAP is also required to shell out a minimum contribution that is equal to 1% (or $1,000) of the total value of the property.

If you intend to read more about the California Homebuyer's Downpayment Assistance Program, you can visit http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm.

California Homebuyer's Downpayment Assistance Program for First Time Home Buyers
  Back to Page 1

About The Author The TopGovernmentGrants Editorial Staff maintains one the most comprehensive Websites offering information on government grants and federal government programs. The staff also provides resources to other Websites with information on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

Section 8 Housing Choice Voucher Homeownership Program
The Connecticut Housing Finance Agency has been administering the Section 8 Housing Choice Voucher Homeownership Program wherein they intend to offer home loans at reasonable, below-market rates to Section 8 tenants who wish to purchase a home of their own.

---

Government Grants for Housing Assistance
Do you have a bad credit record but want to get a house? the government just might help. Read this!...

---

First Time Homebuyer Programs in Connecticut
The Connecticut Housing Finance Authority, otherwise known as CHFA, is a self-supporting quasi-public housing agency operating within the State of Connecticut. The agency was established in the year 1969 in an effort to address the concerns regarding the lack or insufficient supply of affordable housing opportunities for Connecticut’s low- and moderate-income families and individuals.

---

Rehabilitation Mortgage Insurance Program
The Department of Housing and Urban Development, otherwise known as HUD, is a Cabinet department in the executive branch of the United States federal government.

---