Home
About Us
First Time Homebuyer Programs in California
by: Michael SaundersThe California Housing Finance Agency, otherwise known 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 programs 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 line with this mission, the California Housing Finance Agency has constituted the establishment of the California Homebuyer's Downpayment Assistance Program, more commonly referred to as CHDAP.
The California Homebuyer's Downpayment Assistance Program is a deferred payment junior loan that can be used in conjunction with other CalHFA housing programs. It provides borrowers with funds amounting to 3% of the actual value of the property that they wish to inquire in order to cover the downpayment costs.
The CalHFA has stipulated guidelines that needs to be met when it comes to applying for its programs. In this case, if a borrower wants to qualify for the California Homebuyer's Downpayment Assistance Program, he/she must be:
(continued...)
First Time Homebuyer Programs in California
Page 2
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 artist grants and children grants. |
Additional Resources
category - Home Buying Programs
Alabama Housing Finance Authority
Keystone Home Loan Program For First Time Homebuyers in Pennsylvania
Keystone Home Loan PLUS Program
Keystone Home Loan PLUS Program
Follow @topgovtgrant
Social Entrepreneurship
Spotlight
Honest Tea: Living Somewhere in the Grey
“TEO” and co-founder of Honest Tea, Seth Goldman, talks about living in a shade of grey – businesses wouldn’t exist without its consumers. As he said, “There are current issues we deal with, and even if we solve one of those issues, we should be moving on to the next one. As long as we are a consumer-based economy, there’s no way around it. No way to totally lose that area of grey.”
