First Time Home Buyer Programs Sacramento CA

First Time Home Buyer Sacramento CA

First Time Home Buyer Programs Sacramento CA

CalHFA recognizes that purchasing a home can be a big responsibility. However, it is also an opportunity. You can paint your walls your favorite color and plant vegetables and flowers if you wish. It also allows you to plant seeds for your future.

Before you jump into homeownership, it is important to prepare. These steps will help you prepare and make the most of CalHFA loan programs and assistance.

Sacramento First Time Home Buyer - CalHFA's Steps to Homeownership

Step 1

Find out about CalHFA's funding options and eligibility requirements.

The majority of people borrow the money needed to purchase a house. This is a first mortgage loan. Junior loans are mortgage loans that help with closing costs or down payments.

 

CalHFA offers first and junior loans for families with low to moderate incomes, as well as low- to no interest down payment assistance loans. CalHFA does NOT accept loan applications. CalHFA will only approve you for a loan if you apply to one of our approved lenders or Preferred Loan Officers (see Step 2). On Step 2 you will find more information about CalHFA mortgage loans.

Also, be sure to check out our income limits and other eligibility requirements. Click on the tabs "Borrower & Property eligibility" above to learn more. You can also use our eligibility calculator to determine which programs are best for you.

For other financing options, make sure to contact your local housing authority and agencies.

 

Step 2

To get pre-qualified for loan amounts, talk to a CalHFA Sacramento Mortgage Brokers  Jason Whigham 916-413-3967.

Once you have determined if you are eligible to receive a CalHFA loan for your home, you should speak with a loan officer to get pre-qualified. This will allow you to decide how much you can afford. To get a better idea of your financial situation, you can also use the prequalification tool before you contact one of our preferred loan officers.

Step 3

If you're a Sacramento first-time buyer, take a homebuyer education class.

You must take a homebuyer education class if you are a first-time buyer and you have been prequalified. This course will teach you about homeownership and the responsibilities that come with it. To be eligible for a CalHFA loan home, your loan officer will need to produce your certificate from one of these entities.

• • ONLINE: You can access eHome’s eight-hour Homebuyer education course online
    (fee: $99)

 

• IN-PERSON: Face-to-face Homebuyer Education via NeighborWorksAmerica or any approved Housing Counseling Agency
  (Fee: This varies from agency to agency).

 

Step 4

Search for a house.

Ask a local Realtor for help.

After you have found the perfect home for your needs, and within your budget, make an offer to your agent. Congratulations if your offer is accepted! Congratulations if your offer is accepted.s

 

First Time Home Buyer Sacramento CA - Frequently Asked Questions (FAQs

1. Are I eligible for CalHFA programs
   Contact Sacramento Mortgage Broker Jason Whigham 916-413-3967.
2. What is the Credit Score requirement for?
   The minimum credit score required for each program will vary depending on the other factors. However, it is generally between 660-680. A Preferred loan officer will assess your financial situation to determine the score that you need in order to be eligible.
3. What are the available programs?
   CalHFA offers many programs to assist with down payment and first mortgages. Details on all these programs can be found under the Loan Programs tab.
4. What is 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 a loan officer.

5. What are the income limits for each category?
   Income limits can vary depending on the program and the county where the property is being bought. To determine your income limit, it is best to read the Program Descriptions. The details regarding income limits can be found in the section for borrower requirements of each program description.
6. CalHFA has any sales price limits on the home I'd like to purchase?
   CalHFA doesn't have any sales price limits.
7.  

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