New CalFHA Loan to Help First Time Buyers

The California Housing Finance Agency (CalHFA) announced this week the launch of a new fixed-rate, 30-year, FHA-insured mortgage program for low- and moderate-income home buyers.

  • CalHFA provides financing and programs for low- and moderate-income Californians.  The program announced this week enables qualified, first-time home buyers in California to receive a 30-year mortgage with a fixed interest of approximately 4 percent.
  • The CalHFA program includes upfront mortgage insurance, which is required for most FHA- insured home loans.  Borrowers are eligible to use the California Homebuyer’s Downpayment Assistance Program, which can provide up to 3 percent of the purchase price of the home for down payment or closing costs.
  • In addition to being a first-time home buyer – defined under federal law as not having owned and occupied a home for the past three years – borrowers also must meet income limits, which vary by county and family size.
  • Borrowers also must purchase homes within FHA’s loan limit and CalHFA’s sales price limits.  Mortgage loans are limited to $417,000 under FHA guidelines, while CalHFA’s sales price limits vary by county.
  • Additionally, borrowers must meet the minimum credit score requirements and maximum debt-to-income ratios and complete a HUD-approved home buyer education program.

For more information click on over to Yuba Sutter Homes and Loans and look under the [Finance] tab. There you will also find calculators to help your planning and other resources.  For the fastest answers drop us an email or call 530 315-2808.

For more current news about real estate in the Yuba-Sutter area visit Yuba Sutter Home Buys and click the [Discussions and News] tab.

To read this month’s Yuba Sutter Real Estate click HERE.  To get your own copy delivered directly to your in box drop an email to  And don’t forget you can always search for listings in privacy from Yuba Sutter Homes and Loans site.  Just click the [Buyer’s Menu] tab to get started.  To have us do the grunt work for you, email or call 530 315-2808 today.

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