CalHFA Loans

CalHFA Loans


What Is A CalHFA Loan?

CalHFA stands for the California Housing Finance Agency and is connected to a California down payment assistance program. CalHFA loans are funded from the sale of California bonds which separates them from your standard FHA or Conventional loans.


What Can I Use A CalHFA Loan For?

CalHFA offers an excellent opportunity for the first time home buyers to obtain a loan with little or NO down payment. They offer down payment assistance as well as closing cost assistance for qualified borrowers.


Is A CalHFA Loan Right For Me?

CalHFA has limitations on what the maximum purchase price and household income allowable for each county in California. If your income is higher than the limitations set by your county then you are not eligible for CalHFA financing. Contact me, Jack Skovgard (562-340-9453), for any information on your CalHFA county income requirements as well as all other questions you may have about CalHFA loans.


CalHFA Loan Requirements

  • Income Limits: CalHFA income limits vary depending on the county you live in and the amount of people who will be living in the household. Give Jack Skovgard (562-340-9453) a call to find out what the income limits are in your area!
  • Down Payment: CalHFA offer a second, or subordinate, loan that is considered a “silent second.” This means that the payment is deferred and you do not have to make a payment until you sell your home is sold, refinanced, or paid in full. *Ask about the FHA streamline refinance*
  • Credit Score: The minimum credit required to obtain a Long Beach Home Loan FHA loan is a middle score of 620 (special circumstances may allow for lower scores).
  • Property Requirements: The sale price of a home can not exceed the limits set forth by CalHFA and must be a single-family home or one-unit residence including approved condominiums/PUDs. Manufactured homes are eligible as long as they are secured to a permanent foundation.


CalHFA Mortgage Insurance Premiums

You can obtain either a CalHFA FHA or CalHFA Conventional loan. CalHFA FHA loans are insured by the Federal Housing Administration while CalHFA Conventional loans are insured by private mortgage insurance companies.


Working With A Qualified Lender

At Long Beach Home Loan we are committed to serving clients throughout the state of California with all of their home needs. If you are thinking about purchasing your first home with a CalHFA loan, we can help! Contact me, Jack Skovgard (562-340-9453), for any questions you may have about CalHFA first loans, CalHFA down payment assistance loans, or CalHFA closing cost assistance loans to see if one might be right for you.

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Jack Skovgard
Long Beach Home Loan
Mortgage Loan Originator
NMLS: 1448432
CalBRE: 01994726

Equal Housing Lender

Contact Us

Jack Skovgard of Long Beach Home Loan
1650 Ximeno Ave
Suite 210
Long Beach, CA 90804

 8:00 am - 6:00 pm
(After 6:00 pm by Appt)
Sat/Sun: By Appointment