CalHFA has just released a new loan program for First Time Home buyers. DFA Loan Up to 20% of the purchase price to assist homebuyers with the down payments/Closing Costs
For many would be homebuyers in Santa Clarita, Los Angeles and throughout California the Dream of Home-Ownership has been difficult to achieve! CalHFA DFA Shared Appreciation loan could be your path to homeownership!
DFA Highlights
- Available to First Time Home Buyers ( have not owned a home within 3 years).
- Minimum Credit Scores of 680.
- Receive up to 20% of the loan amount or appraised value of the home for Down Payment or Closing Costs Only.
- Use the 20% towards down payment to eliminate PMI.
- No monthly payments required on the DFA Shared Appreciation loan for the life of the first mortgage.
- Shared Appreciation loan must be paired with a Dream For All first mortgage
- Income cannot exceed CalHFA income limits.
- Los Angeles County: $180,000
- Orange County: $235,000
- Ventura: $228,000
