CalHFA Loan | How To Qualify For CalHFA



the California Housing Finance Agency

Did you know that the California Housing Finance Agency also known as CalHFA offers a program where you’d have to put zero down and it’ll even cover closing costs? It’s an amazing program. It requires a 640 middle FICO score so that’s a big deal. All you got to do is qualify there, that’s considered poor to medium credit it’s not a high credit score type of program and you can get a hundred percent financing. Here’s the stipulation. Must be a first-time homebuyer. what’s a first-time homebuyer? It doesn’t mean you’ve never owned a home. It means you’ve never owned a home in the past three years. So, if you haven’t owned a home in the past three years, have a 640 FICO score, I can help you fire your landlord! call me Chris Trapani and I’ll help you do that.


Borrower Requirements

Borrower eligibility requirements for all CalHFA programs:

  • Must be a U.S. citizen, permanent resident or other qualified alien.
  • You will need to meet credit, income limits and loan requirements of the CalHFA
  • Need to live in the home you are purchasing for the entire term of the loan, or until the home is sold or refinanced.
  • CalHFA borrowers must complete homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.
  • CalHFA’s down payment programs require you to be a first-time homebuyer.

Homebuyer education class

A CalHFA loan program requires one applicant to attend either in person or online a homebuyer education course.