California Housing Finance Agency
Page 2

a) First Mortgage Loan Program - This type of first time homebuyer loan program could easily be one of the agency's most popular program as it caters to first time homebuyers who are seeking for a 30-year loan term and an interest rate that remains fixed throughout the entire 30 years.

b) CalHFA Targeted Areas Loan Program - This program is very much similar to the First Mortgage Loan Program in the manner that both programs offer homeownership opportunities in the form of a 30-year, fixed loan rate. They only differ in the sense that the CalHFA Targeted Areas Loan Program is only available in Federally Designated Targeted Areas only.

c) California Homebuyer's Downpayment Assistance Program (CHDAP) - This program can be used in conjunction with any other first time homebuyer program as it provides homebuyers with the opportunity to procure a deferred-payment subordinate loan in the amount of 3% of the purchase price or appraised value of their desired property.

d) School Facility Fee Down Payment Assistance Program (SFF) - This program is especially designed to provides assistance for down payment and/or closing costs to buyers of newly constructed homes throughout California and if the conditions of the program are met, the buyer might not have to repay the funds that have been administered under the program..

e) Section 8 Housing Choice Voucher Program - This program is funded by the United States Department of Housing and Urban Development. It enables qualified first time homebuyers to receive monthly assistance for homeownership expenses in lieu of monthly rent aid.

California Housing Finance Agency
  Back to Page 1

About The Author Michael Saunders is an editor of TopGovernmentGrants.com one the the most comprehensive Websites offering information on government grants and federal government programs. He also maintains Websites providing resources on environmental grants and grants for youth programs.

Additional Resources

category - Home Buying Programs

Department of Housing and Urban Development's Dollar Homes Program
The Dollar Homes Program revolves around the process of selling single family homes for a superbly reasonable price of $1 (plus closing cost) to low-to-moderate income families, granted that these houses have been acquired through foreclosure by the Federal Housing Administration, and have already been actively marketed for at least six months and still remained unsold after that certain period of time.

---

First Time Homebuyer Programs in Georgia
In July 1996, the Governor and General Assembly made a vital decision to join together the Georgia Housing and Finance Authority (GHFA) with the Department of Community Affairs.

---

First Time Homebuyer Programs in Georgia
The state of Georgia offers a variety of programs to assist first time home buyers. The programs are offered primarily through the Georgia Department of Community Affairs.

---

First Time Homebuyer Programs in Montana
The Montana Board of Housing, otherwise referred to as BOH, was primarily established to to provide decent, safe, sanitary and affordable housing for lower income individuals and families in the State of Montana.

---