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First Mortgage Programs Federal Government Loans The Cal, HFA FHA Program is an FHA-insured loan including a Cal, HFA 30 year repaired rate of interest first mortgage. The Cal, PLUS FHA program is an FHA-insured very first home mortgage with a somewhat greater thirty years repaired rates of interest than our standard FHA program and is combined with the Cal, HFA No Interest Program (ZIP) for closing costs.

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This loan is a 30-year set rates of interest very first mortgage. The Cal, HFA USDA Program is a USDA Guaranteed first home loan program, which can be integrated with the My, Home Support Program (My, Home). This loan is a 30-year set rate of interest very first home mortgage. Traditional Loans The Cal, HFA Traditional program is a first home loan guaranteed through private mortgage insurance on the traditional market.

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The Cal, PLUS Conventional program is a traditional very first home loan with a somewhat greater thirty years repaired interest rate than our basic conventional program and is integrated with the Cal, HFA No Interest Program (ZIP) for closing costs. Down Payment Help Program The cash you put "down" or the down payment on your mortgage can be among the largest hurdles for many novice property buyers.

This kind of help is frequently called a second or subordinate loan. Cal, HFA's subordinate loans are "quiet seconds", meaning payments on this loan are deferred so you do not need to make a payment on this support up until your house is offered, re-financed or paid completely. Read More Here assists to keep your regular monthly home loan payment budget-friendly.

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5% of the purchase rate or appraised worth to assist with deposit and/or closing costs, with a cap of $11,000. USDA, Standard: My, House uses a deferred-payment junior loan of a quantity up to the lesser of 3% of the purchase rate or evaluated worth to help with deposit and/or closing expenses, with a cap of $11,000.

Note that the $11,000 cap does not use to school employees and fire department employees, or those purchasing brand-new building and construction homes, made houses, or houses with ADUs.