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First Home Loan Programs Government Loans The Cal, HFA FHA Program is an FHA-insured loan featuring a Cal, HFA 30 year repaired interest rate first home loan. The Cal, PLUS FHA program is an FHA-insured very first home mortgage with a somewhat higher 30 year repaired rate of interest than our basic FHA program and is combined with the Cal, HFA Zero Interest Program (ZIP) for closing expenses.

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This loan is a 30-year set rates of interest first home loan. The Cal, HFA USDA Program is a USDA Guaranteed very first home loan program, which can be combined with the My, House Assistance Program (My, House). This loan is a 30-year fixed rate of interest first home loan. Conventional Loans The Cal, HFA Conventional program is a very first mortgage loan insured through personal home mortgage insurance coverage on the standard market.

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The Cal, PLUS Standard program is a traditional first mortgage with a somewhat higher 30 year repaired rate of interest than our standard traditional program and is combined with the Cal, HFA Absolutely No Interest Program (ZIP) for closing costs. Down Payment Support Program The cash you put "down" or the deposit on your mortgage can be among the largest hurdles for numerous newbie property buyers.

This type of help is typically called a 2nd or subordinate loan.  Did you see this? , HFA's subordinate loans are "quiet seconds", indicating payments on this loan are postponed so you do not need to make a payment on this support until your house is offered, refinanced or paid completely. This assists to keep your regular monthly mortgage payment budget-friendly.

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5% of the purchase cost or appraised value to help with deposit and/or closing costs, with a cap of $11,000. USDA, Standard: My, Home provides a deferred-payment junior loan of an amount approximately the lower of 3% of the purchase price or evaluated worth to help with down payment and/or closing expenses, with a cap of $11,000.

Note that the $11,000 cap does not apply to school workers and fire department staff members, or those acquiring brand-new building and construction homes, manufactured homes, or homes with ADUs.