1.     CalHFA Conventional Program and CalHFA FHA Program are a set of programs in California State for single-families and one-unit residences, including approved condominium/PUDs, guest houses, granny units and in-law quarters.

CalHFA Conventional Program is a 30-year, first mortgage loan program insured through private mortgage insurance on the conventional market. Extra Credit Teacher Program (ECTP) and CalHFA Conventional Program can be combined and they allow you down payment assistance. To be an eligible borrower, you have to occupy the home as a primary residence because non-occupant co-borrowers or co-signers are not allowed. A certificate of homebuyer education counseling completion (through an eligible organization) is required and you have to meet CalHFA income limits for this program. The restriction of this program is that manufactured housing is not permitted and the size of the property isn’t allowed to be larger than five acre.

CalHFA FHA Program is a 30-year, first mortgage loan program insured by the Federal Housing Administration. Extra Credit Teacher Program (ECTP) and CalHFA FHA Program can be combined and they allow you down payment assistance. To be an eligible borrower, you have to occupy the home as a primary residence because non-occupant co-borrowers or co-signers are not allowed. A certificate of homebuyer education counseling completion (through an eligible organization) is required and you have to meet CalHFA income limits for this program. For this program manufactured home is allowed, but it has to be on a permanent foundation.

 

2.     CalPLUS Conventional Program and CalPlus FHA Program are a set of 30-year, fixed-rate loan programs insured through either private mortgage insurance or the federal government. The program is for single-families and one-unit residences, including approved condominium/PUDs, guest houses, granny units and in-law quarters.

CalPLUS Conventional Program is a first mortgage loan insured through private mortgage insurance on the conventional market. CalHFA Zero Interest Program (ZIP) and CalPLUS Conventional Program can be combined and they allow you down payment assistance. To be an eligible borrower, you have to occupy the home as a primary residence because non-occupant co-borrowers or co-signers are not allowed. A certificate of homebuyer education counseling completion (through an eligible organization) is required and you have to meet CalHFA income limits for this program. The restriction of this program is that the first mortgage loan amount may not exceed $417,000 and the size of the property isn’t allowed to be larger than five acre.

The CalPLUS FHA Program is a 30-year, first mortgage loan program insured by the Federal Housing Administration. CalHFA Zero Interest Program (ZIP) and CalPLUS FHA Program can be combined and they allow you down payment assistance. To be an eligible borrower, you have to occupy the home as a primary residence because non-occupant co-borrowers are not allowed. A certificate of homebuyer education counseling completion (through an eligible organization) is required and you have to meet CalHFA income limits for this program. The restriction of this program is that manufactured housing is not permitted and the size of the property isn’t allowed to be larger than five acre.

 

3.     California Homebuyer Down Payment Assistance Program (CHDAP) provides a deferred-payment junior loan (up to 3% of the purchase price) or appraised value, whichever is less, to be used for your down payment and closing costs. To become an eligible borrower, you have to qualify for the first-time buyer requirements, as well as for income limits and purchase price limits (set by county). CalHFA or non-CalHFA, first mortgage loan can be combined with California Homebuyer Down Payment Assistance Program. To be an eligible borrower, you have to occupy the home as a primary residence because non-occupant co-borrowers are not allowed. A certificate of homebuyer education counseling completion (through an eligible organization) is required. For this program manufactured home is allowed, but it has to be on a permanent foundation. Your home shouldn’t be larger than five acre.

California Homebuyer Down Payment Assistance Program is allowed if you are a single-family, one-unit residence (including approved condominium/PUDs), guest houses, granny units and in-law quarters.

 

4.     Mortgage Credit Certificate is a first-time homebuyer federal credit which can reduce potential federal income tax liability, creating additional net spendable income. You may use this income (between 20 and 40 %, capped at $2,000) as a monthly mortgage payment.

Mortgage Credit Certificate Program enables you to convert a portion of your annual mortgage interest into a direct dollar for dollar tax credit on your U.S. individual income tax returns. To have access to this program, you have to be a U.S. citizen, permanent resident or other qualified alien. Although it is a first-time homebuyer credit, exceptions may apply: your home is located in a federally designated targeted area or you are a qualified veteran. You have to live in the purchased home for the entire term of the loan, or until the home is sold or refinanced. You will also be required to meet CalHFA income limits and loan requirements of the lender and/or insurer for this program.

Mortgage Credit Certificate Program is approved only for home which is a single family residence (detached), a condominium or attached unit in a PUD and the property is of maximum five acre size. Guest houses, granny units and in-law quarters may be eligible.

 

5.     Extra Credit Teacher Home Purchase Program (ECTP) is an exclusive opportunity in California. The program offers deferred-payment junior loans (from $7,500 to $15,000) to assist you with your down payment fees. The CalHFA first mortgage loan combines with ECTP, being reserved for eligible teachers, administrators, classified employees and staff members working in California schools. To be eligible for this program, you have to be a first-time homebuyer and the property should be your primary residence because non-occupant co-borrowers are not allowed. You will also be required to meet CalHFA income limits and loan requirements of the lender and/or insurer for this program.

ECTP demands that you be currently employed in a County/Continuation or High Priority school. A certificate of homebuyer education counseling completion (through an eligible organization) is required.

Extra Credit Teacher Home Purchase Program is allowed if you are a single-family, one-unit residence (including approved condominium/PUDs), guest houses, granny units and in-law quarters. Manufactured housing is not allowed and your home shouldn’t be larger than five acre.

 

6.     Cal-EEM + Grant Program is a Californian program developed to help homebuyers and homeowners finance home improvements that make a household more energy efficient. The program allows a 30-year fixed rate FHA-backed first mortgage loan that pairs with a grant used for energy efficient home improvements. California Homebuyer Down Payment Assistance Program or the Extra Credit Teacher Program may combine with Cal-EEM + Grant Program. To become an eligible borrower, you have to meet CalHFA income limits and the sales price limits for this program. A certificate of homebuyer education counseling completion (through an eligible organization) is also required.

Cal-EEM + Grant Program requires that you be subject to a Home Energy Rating System (HERS) report and to follow FHA EEM guidelines. The property should also be your primary residence because non-occupant co-borrowers are not allowed.

Cal-EEM + Grant Program is allowed if you are a single-family, one-unit residence (including approved condominium/PUDs), guest houses, granny units and in-law quarters. Manufactured housing is not allowed and your home shouldn’t be larger than five acre.

 

CalHFA Conventional Program

CalHFA FHA Program

CalPLUS Conventional Program

CalPlus FHA Program

California Homebuyer Down Payment Assistance Program

Mortgage Credit Certificate

Extra Credit Teacher Home Purchase Program

The Cal-EEM + Grant Program

FHA EEM guidelines