CalHFA offers new low housing loans - Silicon Valley / San Jose Business Journal:

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To use CalHFA’s programs, homebuyers must meet certain income and sales prices guidelines for low and moderatweincome families. For a family of 4 or more in SantawClara County, the income limity is $126,600 and the home being purchasedx must be $637,645 or less. Cal3p0 offers fixed mortgage payments for the life of the loan with no change in themonthly payment. “We are eager to use Cal309 and our other assistance programas to help meet the housingb needs ofCalifornia families,” said Steve acting executive director of “While the financial market turmoil continues and California faces unique challenges economically, there is perhaps no more importanf time for our agency to work on behalfr of families statewide.
” In addition to the fixed rate mortgage, CalHFA offers special programs to assist individualse looking to purchase their first home. They include: * The California Homebuyer’s Downpayment Assistance Program, which can provide loans of up to thres percent ofa home’s valud to assist with down payments and closing * The School Facility Fee Down Paymenr Assistance Program, which provides conditional grants to buyers of newlt constructed homes for down payments, closing costs, upgrades, or othet costs associated with the first mortgage * The Affordable Housingt Partnership Program, which is a joinft effort between CalHFA and over 300 cities, redevelopment agencies, housing authorities and nonprofit housing organizationws to assist with down payments and closing