Get a Home Loan from the California Housing Finance Agency


Get a Home Loan From the California Housing Finance Agency

United Wholesale Lending Specializes in Mortgage Loans from the California Housing Finance Agency (CalHFA).

Access First-Time Homebuyer Loans from CalFHA in Sacramento!

If you’re a first-time homebuyer in California, you could be entitled to a low-cost mortgage loan. Call the friendly team at UWL today to learn more!

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Loans from the California Housing Finance Agency (CalHFA)

CalHFA loans help people with low incomes to access mortgage finance and, in some cases, down payment assistance. The program is valid for FHA, VA, USDA-insured, or guaranteed mortgage loans with a 30-year term and a low, fixed rate of interest.

What Is a CalHFA Loan?

The California Housing Finance Agency works with private lenders to provide loans to California homebuyers. As with a conventional loan, any mortgage you take out with CalFHA needs to be covered by private mortgage insurance.

Interest Rates for a CalFHA Loan

The interest rates for a CalHFA loan are normally low and fixed, although the actual rate is determined by criteria like your financial situation. The rate is also classified according to the type of loan you’re applying for.

If you’d like to get an accurate interest rate for your circumstances, call our team today.

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First-Time Home Buyers Deposit Assistance

CalHFA offers various assistance programs to help first-time homebuyers with a down payment. These include MyHome, the Mortgage Credit Certificate Tax Credit Program(MCC), the Community Stabilization House Loan Program, and the School Teacher and Employee Assistance Program. The criteria vary but, if you haven’t owned a home in more than three years, you might be considered a first-time homebuyer.

CalHFA Loan Duration

With a traditional loan, you can vary the term with most having a 15 to 30-year duration. CalHFA loans are only offered on 30-year fixed-rate terms.

Insured Government Loan Program

Some CalHFA loans qualify for an insured government loan program—these include the CalHFA FHA loan and the CalHFA VA loan. If you are eligible for one of these FHA or VA loans, you could qualify for a lower rate of interest.

CalHFA Loan Eligibility Requirements

To qualify for a CalHFA loan, you need to comply with several conditions for your financial circumstances, the property, and homebuyer education requirements.

Credit Requirements for CalHFA

You typically need to have a credit score of 640 to obtain a CalHFA loan.

Income limitations for CalHFA

To be eligible for a CalHFA loan, you need to earn less than a certain amount. The income restrictions differ from city to city across California, so please get in touch with our team to find out how they affect you.

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Home Occupation Requirements

To get a CalHFA home loan, you need to meet certain occupation requirements.

First, the home you are buying has to be a single-family, one-unit residential property with a maximum land area of five acres. Second, it must be your principal residence. Third, the sale price of the property cannot exceed the $705,005 restriction set by the CalHFA.


Some questions we are asked regularly about a CalHFA:

What Is the Processing Time for CalHFA?

CalHFA loans have a speedy turnaround time because the paperwork is not complicated. Compliance reviews are usually completed in just three to four days, with CalHFA loans often routinely concluded in just 30 to 45 days.

Can CalHFA Help With a Deposit?

CalHFA does offer down payment help in the form of subordinate loans, also known as silent seconds. These loans are rolled into the original loan so that you won’t have to pay them back until you sell, pay off, or refinance your house. This helps to keep your mortgage repayments manageable.

Am I Eligible for a CalHFA Refinance Loan?

You can defer an existing CalHFA junior loan so long as you meet certain requirements. This means you can restructure your present mortgage without needing to pay off the CalHFA junior loan.

Your new loan must either reduce your current mortgage payment or replace it with a more solid alternative, such as a lower fixed instead of a variable interest rate.

What Is CalHFA MyHome Assistance?

The MyHome Assistance Program offers a loan of up to 3.5 percent of the purchase cost or assessed value of the home (whichever is lower). This loan has to be used in conjunction with the CalHFA first mortgage loan for the deposit or closing costs. You are only eligible for the program if you’re a first-time homebuyer and you will need to meet some additional eligibility criteria.

What Is the CalHFA’s School Teacher and Employee Assistance Program?

If you are a teacher or employee in one of California’s public schools, you can apply for CalHFA’s School Teacher and Employee Assistance Program.

This program offers junior loans of up to 4% of your home’s value, but it’s only applicable to the down payment or closing charges. It has to be used in conjunction with a CalHFA-approved mortgage loan and you are only eligible if you’re a first-time homebuyer who is also an educator, member of staff, school district employee, or administrator.

If you’d like to know whether you can apply, please contact our trusted team.

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How the Loan Process Works

One: You Contact Us

A member of our helpful team will explain all about the CalHFA program and answer any questions you might have.

Two: We Check to Make Sure You’re Eligible

Once we know more about you and your circumstances, we can check to see which mortgage loan option works best for you.

Three: Your CalHFA Mortgage Loan Application

When we have done the paperwork and you have applied for your CalHFA loan, you can relax and let our experts handle the rest of the process.

Four: Congratulations!

Your low-cost CalHFA loan has been completed and you can now collect the keys for your new home!

Find Out If You’re Eligible for a CalHFA Mortgage Loan

At United Wholesale Lending, we specialize in mortgage lending for borrowers in the Greater Sacramento area including Granite Bay, Folsom, Roseville, El Dorado Hills, Loomis, Rocklin, Auburn, Natomas, and Elk Grove.

Get more information about CalHFA loans.

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