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CalHFA home buyer down payment assistance 2023

Calhfa California home buyer down payment assistance programs for 2023, what are the requirements for qualification for CALHFA in 2023, what are the income limits for CalHFA. Learn how to apply for CalHFA down payment assistance program and to contact an approved mortgage specialist visit: https://premierhomefinancing.com/calh... Key points: 00:00 Start 00:14: Are you a first-time homebuyer in California looking to make your dream of homeownership a reality ? 00:26: If so, the California Housing Finance Agency ((CalHFA) ) may be able to help. 00:42: Established in 1975, calhfa is a government-sponsored organization that provides assistance to qualifying homebuyers through loan programs and financial assistance options. 01:14: Eligibility Requirements for CalHFA Loan Program 01:25: The first step towards taking advantage of the calhfa loan program is ensuring that you meet all the necessary eligibility requirements. 01:37: To qualify for the program, you must meet all of the following criteria: 01:46: • Be a first-time homebuyer (or have not owned a home in the past three years) 01:56: • Have an acceptable credit score and debt-to-income ratio under 45% 02:06: • Earn an income within certain limits based on the area being purchased in 02:29: • Complete an approved home buying counseling course Properties Eligible for calhfa Loan Programs. 02:41: Once you've established that you are eligible for the program , it's time to start shopping around for properties . 02:57: There are several restrictions related to which properties are eligible under the program so be sure to familiarize yourself with these before committing to any purchase agreements. 03:13: Some of these restrictions include maximum sales price not exceeding $765K; 03:24: Location within California; single family one unit homes 03:38: (some condos allowed ); and other restrictions based on property type. 03:56: Now that we've discussed eligibility requirements and property guidelines, let's take a look at what types of loans are available under this program. 04:15: The two main types of loans offered by calhfa are government loans insured by FHA/VA/USDA or conventional loans through private mortgage insurance (PMI). 04:34: In addition, there are also several financial assistance options available through CalHFA that can help lower costs even further such as 04:50: MyHome Assistance Program providing up to 3.5% towards down payment or closing costs ($11K max), 05:07: School Teacher and Employee Assistance Program offering up to 4% towards purchase price for K12 public school teachers & employees, 05:25: And Zero Interest Program providing zero interest second mortgages amounting 3% of borrower's 1st mortgage that can be used as down payment or closing costs. 05:44: Conclusion: For first-time homebuyers in California looking to make their dreams come true, taking advantage of what the California Housing Finance Agency has 06:34: By understanding all aspects related to eligibility requirements, properties eligible under this program, as well as different types of loan programs available 07:15: Through calhfa coupled with financial assistance options offered by them could make your journey into homeownership much more manageable! 07:51: So, it's always a good idea to check the CalHFA website or consult with a participating lending broker to confirm the current program guidelines and requirements. 08:05: PREMIER HOME FINANCING is a CALHA approved Broker. For more information visit: http://premierhomefinancing.com Information provided by Premier Home Financing NMLS 2383716. Equal Housing Lender. Subscribe to this channel here: https://www.youtube.com/@yourmortgage... This video was created by Sal Ciubancan (www.premierhomefinancing.com) calhfa, housing, calplus, downpayment, mortgage, california, myhome, first time buyer advice, buy a house with zero down, zero downpayment,calhfa income limits,calhfa rates,calhfa equity,calhfa income limits 2023,how to buy a house with zero down, calhfa down payment assistance,calhfa loan