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  • 1. What credit score is necessary to qualify for a CalHFA loan? Views: 19068 Public
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    Credit scores (also known as FICO [Fair Isaac COrporation] scores) are generally indicative of a borrower's likelihood to stay current on debts. Our minimum is currently 640-680, depending on the debt-to-income ratio in the loan application and which loan program you choose. For more details on eligible FICO scores, please work with a CalHFA-approved lender. You can find a list of our Preferred Loan Officers here: https://www.calhfa.ca.gov/apps/PLO
  • 2. Is it possible to refinance my CalHFA loan? Views: 17987 Public
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    Certainly. CalHFA is prohibited from offering refinances, but you should be able to work through virtually any other bank. We'd suggest using a CalHFA Preferred Loan Officer, as they have undergone training and are familiar with CalHFA programs. You can find a geographical list here: http://www.calhfa.ca.gov/homebuyer/lenders.htm Just click on the link CalHFA Preferred Loan Officers.
  • 3. I'm having trouble finding something on your web site. Views: 16565 Public
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    CalHFA's web site is set up in four primary sections: Homebuyers - this section provides information to homebuyers looking for programs to buy their home. CalHFA Homeowners - this section is for those customers who already have a mortgage loan with CalHFA and wish to access account information and other resources about your existing loan. Lenders/Realtors/Nonprofits - this section is for our business partners. If you are a Lender, Broker, Real Estate Agent, or other partner doing business wi  More...
  • 4. What are the income limits? Views: 16416 Public
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    Normal 0 MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman";} Income limits will vary by county for each program. It's best to review the program description for a specific progra  More...
  • 5. What are your hours of operation? Views: 16395 Public
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    Our standard business hours are Monday – Friday 8:00 a.m. – 5:00 p.m. We are closed on state holidays and weekends.
  • 6. Do I qualify for CalHFA programs? Views: 10242 Public
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    Normal 0 MicrosoftInternetExplorer4 st1\:*{behavior:url(#ieooui) } /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman";} Each one of our programs may have different eligibility requirements. In general these are  More...
  • 7. What loan programs does CalHFA offer? Views: 9347 Public
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    Normal 0 false false false MicrosoftInternetExplorer4 CalHFA currently offers several first mortgages and down payment assistance programs. For detailed information on these programs, please visit our Program Descriptions page: http://calhfa.ca.gov/homebuyer/programs/index.htm
  • 8. How do I find a CalHFA Loan Officer? Views: 9340 Public
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    Check out our list of Preferred Loan Officers: https://www.calhfa.ca.gov/apps/PLO/ Any one of the loan officers listed will be more than happy to help you understand and proceed with securing a CalHFA loan for your home purchase. They also should be able to help if you are unfamiliar with the process of buying a home. Additionally, you can call our toll-free number at 877.9.CalHFA (877.922.5432) and one of our representatives can put you in touch with a loan officer in your area.
  • 9. I want to short-sell my home. Can CalHFA help me? Views: 9207 Public
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    If you are having problems making mortgage payments and you are considering a Short Sale of your home, you should contact the CalHFA Loan Servicing Unit by calling us toll free at 800.669.1079. To qualify for possible assistance for a Short Sale: • You must have a legitimate and valid financial hardship. • The home must be owner occupied throughout the entire Short Sale process. If the property is vacant the Short Sale will be reviewed on a case by case basis. • The property mus  More...
  • 10. Who is considered a first-time homebuyer? Views: 8915 Public
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    California residents who have not owned and occupied their own home in the last three years are considered first-time homebuyers as defined by the Federal Government. Even though you must be a first-time homebuyer to use our down payment programs, our first mortgages do not require that you be a first-time homebuyer.
  • 11. My client would like to do a streamline rate reduction refinance of an existing FHA loan, with a CHDAP second. Can borrowers who do not have a financial hardship, but wish to lower their housing expenses, subordinate aCHDAP loan? Views: 8683 Public
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    CalHFA does not re-subordinate junior loans except in a loss mitigation situation (imminent default, default, etc.)
  • 12. What is CalHFA MAC? Views: 4050 Public
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    CalHFA MAC was the CalHFA Mortgage Assistance Corporation, a nonprofit organization that was created specifically to receive and disburse federal funding for the Keep Your Home California program. CalHFA MAC’s Board of Directors and Officers were employees of CalHFA and received no additional compensation for performing these duties. The Keep Your Home California program has ended; you can find more information at www.keepyourhomecalifornia.org.
  • 13. What is your phone number? Views: 3709 Public
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    CalHFA’s main Sacramento Headquarters phone number is (toll free) 877.922.5432. If you’re a current CalHFA borrower and would like information about your loan, please call the Loan Servicing Department at 800.669.1079.
  • 14. How can I stay current on CalHFA’s programs, news and updates? Views: 3475 Public
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    Electronic news and updates are offered through CalHFA’s Enews Announcements . You can follow us on Twitter and Facebook.
  • 15. Can a person still qualify (meeting all other requirements) if he/she uses a "co-borrower" or "co- signer" for CalHFA FHA loans? Views: 2970 Public
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    Non-occupant co-borrowers and co-signers are not allowed on any CalHFA loan program.
  • 16. What are the interest rates for your programs? Views: 2777 Public
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    Normal 0 MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman";} Interest rates will vary depending on your financial circumstances, lender fees, and other factors. Interest rates can al  More...
  • 17. How can I apply for a CalHFA loan? Views: 2319 Public
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    Normal 0 MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman";} CalHFA is not a direct lender and works with hundreds of loan officers and brokers who are trained in processing CalHFA l  More...
  • 18. Can my status be that of an H1 visa holder or an L1 visa holder? I don't have a green card and I am not a citizen. Views: 2284 Public
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    CalHFA does not have overlays for citizenship--check with a loan officer, who should follow federal and Government-Sponsored Enterprise guidelines.
  • 19. Can a buyer combine a CalHFA loan with a 203k program? Views: 2190 Public
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    Normal 0 MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman";} Yes, we recently added the ability to use a limited 203k to our offerings. You can find more info here: http://www.calhf  More...
  • 20. Can I still apply for this benefit in spite of having filed for bankruptcy a few years ago? Views: 2164 Public
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    Your lender will need to follow either Fannie Mae or FHA underwriting guidelines for the length of time needed between the bankruptcy and new loan. Talk to a CalHFA Preferred Loan Officer for more details. https://www.calhfa.ca.gov/apps/PLO/
  • 21. Why can't I open some of the documents on your site? Views: 2076 Public
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    All of the documents on CalHFA's web site use either Microsoft Office (Word, Excel, etc.) or are in the PDF format. To read PDF files, you will have to download the free Adobe Reader at the link below. https://acrobat.adobe.com/us/en/acrobat/pdf-reader.html
  • 22. Does CalHFA have a newsletter? Views: 2037 Public
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    Yes, CalHFA’s newsletter, Housing Matters, is available here.
  • 23. Do you have a Spanish web site? Views: 2025 Public
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    We use Google Translate on our site--you can find it in the upper right corner.
  • 24. Does owning a timeshare disqualify you from being a first time home buyer? Views: 1970 Public
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    As long as you're not on the title of the property, and it's not your primary residence, time-shares do not disqualify you from first-time homebuyer status.
  • 25. How do I become a listing agent or referral agent, or perform BPOs for CalHFA properties? Views: 1657 Public
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    You can find information on becoming a listing agent or performing BPOs for CalHFA properties here: http://www.calhfa.ca.gov/homeownership/brokers.htm
CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. CalHFA purchases closed loans that meet CalHFA's requirements. The fees consumers pay could be different depending on the lender and the program.