CalPlus Conventional vs CalPlus FHA?
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CalPLUS FHA is an FHA-insured FHA first mortgage. It has a slightly higher 30-year fixed interest rate than our standard FHA program and is combined with the CalHFA Zero Interest Program ZIP for closing costs.
**Unlock Your Dream Home with CalPLUS FHA Program**
Are you ready to embark on the journey to homeownership? Look no further than the CalPLUS FHA Program, where your dream home becomes a reality. Our expert El Dorado Hills mortgage broker services are finely tailored to meet your individual needs, ensuring that you secure the best rates and unlock the door to your forever home. With a comprehensive array of features and benefits, CalPLUS FHA offers unparalleled support and guidance throughout the home-buying process. Join countless satisfied homeowners who have found success with our program.
Program Eligibility
Determining your eligibility for the CalPLUS Conventional program is the first step towards achieving your homeownership goals. It's essential to carefully review both borrower and property requirements to ensure you meet all criteria. As a borrower, you must plan to live on the property as your primary residence, with non-occupant co-borrowers prohibited. Additionally, completing homebuyer education counseling is mandatory, providing invaluable insights and knowledge to navigate the complexities of homeownership successfully. It's important to note that this program must adhere to CalHFA income limits, ensuring accessibility for all eligible individuals and families.
Property Requirements
The CalPLUS FHA Program opens doors to a wide range of property types, catering to diverse preferences and lifestyles. Whether you're seeking a single-family residence, an approved condominium, or a property with in-law quarters, granny units, or guest houses, we've got you covered. We understand that each homeowner's needs are unique, which is why we allow for flexibility in property types, including manufactured housing permits. Rest assured, our stringent guidelines ensure that all properties meet the highest standards, providing you with peace of mind throughout the purchasing process.
CalPlus FHA and CalPlus Conventional Interest Rate
One of the most critical factors in your homeownership journey is securing the right interest rate for your mortgage. At CalPLUS, we understand the significance of this decision, which is why we offer personalized assistance to help you navigate the complexities of interest rates. Your financial situation, lender fees, and various other factors can influence the rates you pay, making it essential to seek guidance from our experienced mortgage brokers. By speaking with Jason Whigham, a specialist in CalHFA products, you can obtain precise rate quotes tailored to your unique circumstances, empowering you to make informed decisions every step of the way.
Homebuyer Education Requirement
At CalHFA, we believe that education is the key to successful homeownership. That's why we require first-time homebuyers to undergo comprehensive homebuyer counseling through a CalHFA program. This invaluable resource equips you with the knowledge and skills necessary to navigate the complexities of the real estate market confidently. Through our eight-hour Homebuyer Education Counseling course, you'll gain a deeper understanding of the home-buying process, financial management, and homeownership responsibilities. Empower yourself with the tools and insights needed to make informed decisions and achieve your homeownership dreams.
How to Apply
Ready to take the next step towards homeownership? Applying for the CalPLUS Conventional or FHA loan program is simple and straightforward. As CalHFA is not a direct lender, our mortgage products are provided by trained and approved private loan officers. These professionals are dedicated to guiding you through every aspect of the home-buying process, ensuring a seamless experience from start to finish. To get started, simply contact a loan officer near you and schedule a consultation. Be sure to have essential documents on hand, including pay stubs, bank statements, employment history, and tax returns. With our expert guidance and support, you'll be well on your way to unlocking the door to your dream home.
Unlock your dream home today with the CalPLUS FHA Program. Let us be your trusted partner on the path to homeownership.
You can review the sections below for more information about CalPLUS FHA.
CalPLUS FHA program
Program Eligibility
To determine whether you are eligible for the CalPLUS Conventional, please review the guidelines for the borrower as well as the property requirements.
Borrower Requirements
- You must live on the property as your primary residence. Non-occupant co-borrowers are prohibited.
- CalHFA borrowers need to complete homebuyer education counseling. They also need to obtain a certificate from an eligible homebuyer counseling agency.
- This program must meet CalHFA Income Limits
*The lender must adhere to the stricter guidelines in the event of conflicting guidelines.
Property Requirements
- You can be a single-family residence with one unit and include approved condominiums /PUDs.
- In-law quarters, granny units, and guest houses may be eligible.
- Manufactured housing permits are allowed.
- Condominiums need to meet the guidelines for the first mortgage.
*In the event of conflicting guidelines, the lender must adhere to the stricter guidelines.
CalPLUS FHA program
CalHFA
CalPlus FHA and CalPlus Conventional Interest Rate
What's the interest rate?
Your financial situation, lender fees, among other factors, will affect the interest rates you pay. Rates can change daily. To get a precise rate quote, we recommend you speak with Jason Whigham, who specializes in CalHFA products.
CalHFA doesn't lend money directly to customers. CalHFA uses approved lenders to help consumers qualify for and make mortgage loans. The fees that you pay may vary depending on which lender or program you are using. See an example of annual percentage rates (APRs).
CalPLUS FHA program
Homebuyer Education Requirement
CalHFA believes that homebuyer counseling and education are crucial to homeowner success. It requires first-time homebuyers to receive homebuyer counseling through a CalHFA program.
Who must take this Homebuyer Education & Counseling course?
Only one can be a first-time borrower for each loan transaction.
How can I enroll in this counseling and education course?
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- ONLINE The only course that CalHFA accepts online is the eight-hour Homebuyer Education Counseling course. The Frameworks online course is not accepted by CalHFA because it does not offer a 1-on-1 counseling session.
CalPLUS FHA program
How to Apply
How can I apply for the CalPlus Conventional or FHA loan program?
CalHFA is not an agent lender. Our mortgage products are provided by private loan officers who have been trained and approved by our agency. These loan officers are available to help you learn more about CalHFA's programs and guide you through your home-buying process.
To contact a loan officer near you, visit the Find A Loan Officer tab.
What documents do I need to have with me when I contact Jason Whigham, my loan officer in California?
This list of documents and information can be helpful for answering any questions you might have when you first contact a loan officer.
- Pay stubs.
- Statements from banks
- History of employment
- Tax returns from the past.
CALPLUS FHA other DPA resources...
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