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EQUITY BUILDER PROGRAM

Program Highlights:

  • Borrower receives 10% in assistance from CalHFA

  • Assistance is fully forgiven if you live in the home for 5 years

  • Assistance can be used for closing costs as well:

    • ex. 7% for down payment + 3% for closing costs = 10% in assistance​

  • Borrower can add a maximum of 20% of their own funds/gift funds for down payment

  • Loan amount limit based on conforming loan limits

  • Interest rates for the program are set by CalHFA and change daily

  • Types of approved homes:

    • Single-family homes​

    • Condos/townhomes (approval required)

    • Manufactured homes on owned land (no leased spaces)

    • Below-market-rate (BMR) homes

 

Eligibility:

  • Borrower must be a first-time homebuyer (not owned a home in the past 3 years)​

  • Borrower's gross income must be below the limit for the county the home is purchased in

  • Maximum DTI (debt-to-income ratio) is 45%

  • Minimum credit scores:

    • Conventional = 680​

    • FHA = 640

Complete Program Information

Want to see if you qualify?

Our team will reach out as soon as possible.

 WHAT CAN I AFFORD? 

 

Use our mortgage calculators to see current mortgage rates and determine your monthly payment.