mortgage program 1100x300

VA LOAN

VA Loan

LET IT WAVE! NO DOWNPAYMENT, NO MINIMUM CREDIT SCORE REQUIRED

VA Program Highlights

  • No Minimum Credit Score
  • No Downpayment Required!
  • 100% Financing with Full Entitlement
  • Ability to Use Parting Residence
  • Rental Income for Loan Qualification

Details:

  • 30 year and 15 year fixed-rate mortgages.
  • Loan amounts up to $417,000. Jumbo availability (Please call for details).
  • Available for purchase and cash-out refinance.

Requirements:

 Must be an active-duty veteran; a veteran discharged with other than dishonorable condition, a service-disabled veteran; a National Guard; or Reservist with at least six years in selected reserve status.

  • Unmarried widows of eligible veterans as well as spouses of MIAs and POWs missing more than 90 days, qualify.
  • Eligible branches of service include Army, Navy, Air Force, Marine Corps and Coast Guard.

USDA

USDA

USDA Rural Home Loan Program      

Zero Down Payment

Available for designated rural areas

  • No down payment required
  • Closing costs may be nanced if appraised value is higher than sale price

*additional nanced amount may not exceed actual closing costs

  • No loan limits, No Sale Price Limits
  • Income limits apply
  • Maximum loan amount up to 102% of appraised value
  • One time 2% Guarantee Fee may be nanced into the loan amount or paid from seller’s credit, .4% Annual Guarantee Fee
  • For property eligibility, visit: http://eligibility.sc.egov.usda.gov/eligibility/

Help DPA Program

Help DPA Program

Help DPA Program is a grant!

Thousands of people each year dream of becoming homeowners. The Help DPA Program may help that dream become reality.

This homebuyer assistance program currently provides low-to-moderate income families and individuals with a choice of a 3% to 4.5% Grant* that does not have to be repaid. The grant can be used towards down payment or closing costs. Many times this allows homebuyers to purchase a home much sooner than they thought possible.

OWNING YOUR OWN HOME

Own your own

Find joy in owning YOUR OWN home
Why BUY?

Have you ever thought about what it must feel like to own the roof over your head?
To be able to do what you want when you want – to YOUR home?
For many People, buying a home is the biggest and most fullling purchase they will make in their life. Because you aren’t just buying a house when you buy a home, you’re starting a new life. And right now it’s easier than ever to do just that.

With the recent decrease in FHA mortgage insurance premiums, homeowners are saving hundreds a year on their mortgage. Furthermore, considering the numerous Down Payment Assistance Programs available and that California median home price have fallen more than 40% since 2008,
Affordability is the best it has been in 20 years.

Right now really is the best time to own a home. So take full advantage and live the dream of homeownership for yourself today!

JUMBO LOANS WITH 10% DOWN

Jumbo loans

GREAT RATES! CLOSE FAST!

  • Loan Amounts up to $3 Million! *
  • No monthly PMI
  • Fixed-rate and ARM options are available
  • Eligible for primary, secondary and investment properties

HOME POSSIBLE

Home possible

FREDDIE MAC’S ALTERNATIVE TO FHA
HOME POSSIBLE Up to 95% LTV
HOME POSSIBLE ADVANTAGE Up to 97% LT

THE FLEXIBILITY THAT HOMEOWNERS DESERVE

Product Highlights:

  • Great for all buyers, including first time home buyers
  • Refinances up to 97%, regardless of current mortgage program
  • No income limits for Underserved Areas
  • No reserves required for 1-unit properties
  • Gift funds eligible for entire down payment

VA ELITE

VA Elite

Committed to those who have
bravely served in the armed forces
RED CARPET SERVICE COMPRISED OF SPEED AND EFFICIENCY

  • Starting with FICO score of 720 or higher
  • $ 175,000 minimum loan amount
  • Purchase your dream home with no money down
  • Save money on your monthly mortgage!
  • Refinance your current VA home loan up to 150% of the property value

Call today for more information!

Purchase your home with just 1% down

1% down

One month’s rent could get you into your dream home

You put down 1%, your lender contributes 2%*, giving you 3% equity at closing
Great low rates | Close in 30 days or less | Available with no monthly mortgage insurance
*2% lender contrbution may only be applied to down payment

USE GIFT FUNDS AS THE DOWNPAYMENT FOR YOUR NEW HOME

Gift funds

DON’T  HAVE MONEY FOR A DOWN PAYMENT? yOU CAN STILL GET A HOME

  • 100% gift options available
  • Save your cash
  • Program options available with no monthly mortgage insurance

Purchase a new home today with as little as 3% down

3% down

Don’t waste money on rent when you can afford to buy

  • Close on your new home in as little as 30 days
  • Gift funds eligible for a down payment
  • First-time home buyers eligible
  • Primary homes, 1-2 units eligible
  • High Balance loans available
  • Start building your own equity today

CAL-EEM Program

Cal eem

Make your mortgage and your home energy efficient .Energy costs are going up. We can help you bring them down again.

EEM + Grant Features:

  •  Energy-efficient first mortgage helps you include cost of energy-efficient improvements of our mortgage.
  • Additional 4% grant so you can make even more improvements to make your home green.

Additional Benefits:

Cal-EEM + Grant can also be combined with:

  • My Home assistance program – deferred payment junior loan for down payment and/or closing costs
  • Mortgage Credit Certificate Program (MCC) –federal income tax credit that may lower your taxes and increase disposable income
  • Extra credit Teacher program (ECTP)-up to $ 15,000 in a deferred payment loan for teachers and staff serving high priority schools

CALPLUS with ZIP

Cal plus

Are you a homebuyer looking for a fixed rate mortgage with down payment assistance combined into one perfect package? Cal PLUS and ZIP are for you 

Cal PLUS Features:

  • A 97% LTV Conventional or 96.5 % LTV FHA first mortgage loan
  • 30-year term, fixed interest rate
  • Also available to non first time homebuyers

ZIP down payment assistance:

  • Zero interest junior loan
  • deferred payment

Additional benefits:

First time homebuyers can also add these to Cal Plus with ZIP:

  • My home assistance program: deferred payment junior loan for down payment and or/closing costs
  • Extra credit Teacher program (ECTP)-up to $ 15,000 in a deferred payment loan for teachers and staff serving high priority schools
  • Mortgage Credit Certificate Program (MCC) –federal income tax credit that may lower your taxes and increase disposable income

Saving Enough Money yo Buy a Home

Buy a home

Saving enough money to BUY A HOME might feel overwhelming

calHFA lending heroes make the impossible POSSIBLE

Affordable

Cal PLUS comes with built-in down payment that can:

  • reduce your out-of-pocket due at closing or
  • reduces your monthly payment by covering your mortgage insurance with a onetime payment.

Dependable

Our fixed rates mean you’ll know your payment for the life of a loan

Possible

Our lending heroes are qualified loan officers who specialize in our programs, with the answers first time home buyers need

Extra Credit - Teacher Program

ectp

Are you a teacher or staff member serving in one of California’s high priority schools? calHFA would like to say “ thank you “with the Extra Credit Teacher Program.

ECTP Features:

  • Reward teachers and staff who serves in California’s high priority schools
  • Down Payment assistance
    • $7,500 for non-high cost areas
    • $15,000 for high post areas
  • deferred payments
  • Interest forgiveness after three years

Additional benefits:

ECTP can be combined with:

  • Cal PLUS – first mortgage loans with exclusive, Zero interest down payment assistance.
  • Mortgage Credit Certificate Program (MCC) –federal income tax credit that may lower your taxes and increase disposable income

Mortgage Credit Certificate Program

mcc_TPIN

To help you lower your taxes and increase your disposable annual income, here’s federal tax credit program for you.

MCC features:

  • Convert 20% mortgage interest into dollar-for-dollar tax credit
  • the unused portion of credit can be rolled forward for up to three years.
  • can be used every year for the life of the first mortgage

Additional Benefits:

MCC can be combined with:

  • Cal PLUS – first mortgage loans with exclusive, Zero interest down payment assistance
  • My home assistance program: deferred payment junior loan for down payment and or/closing costs
  • Extra credit Teacher program (ECTP)-up to $ 15,000 in a deferred payment loan for teachers and staff serving high priority schools
  • Any non-CalHFA first mortgage

MYHOME Asistance Program

myhome_TPIN

Are you a first-time homebuyer needing a litlte help with your down payment or closing costs? We have a program just for you, to meet those needs.

MyHome Features:

  • Down payment or closing costs assistance
  • Deferred payment junior loan
  • Low interest rate

Additional Benefits:

MyHome can be combined with:

  • All CalHFA first mortgages, including CalPLUS with ZIP
  • Mortgage Credit Certificate Program (MCC) – federal income tax credit that may lower your taxes and increase your disposable income.

5 Power Steps to Buying Your First Home

5 power steps to buying
  1. MEET WITH A HUD APPROVED COUNSELOR.

Take a homebuyer education class or speak to a home-buying counselor so you are familiar with the process and paperwork. If  you end up using any  Down Payment Assistance, you can take an online or in-person class with CalHFA. Find more information at www.calhfa.ca.gov under “Homebuyers”.

  1. OBTAIN A MORTGAGE PRE-APPROVAL

The best way to determine how much you can afford is to contact The Power is Now Mortgage Services. They can check your credit and review available programs. You will need to provide W2s,  pay stubs, bank statements, and other financial information. The Power is Now Mortgage Services knows CalHFA programs and wants you to succeed. Call 800-401-8994 or visit www.thepowerisnow.com