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First Mortgage Programs Federal Government Loans The Cal, HFA FHA Program is an FHA-insured loan including a Cal, HFA thirty years fixed rates of interest first home mortgage. The Cal, PLUS FHA program is an FHA-insured very first home mortgage with a slightly greater thirty years repaired rate of interest than our basic FHA program and is combined with the Cal, HFA No Interest Program (ZIP) for closing costs.

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This loan is a 30-year set rates of interest very first mortgage. The Cal, HFA USDA Program is a USDA Guaranteed very first mortgage loan program, which can be integrated with the My, Home Support Program (My, Home). This loan is a 30-year fixed rates of interest very first mortgage. Conventional Loans The Cal, HFA Conventional program is a very first mortgage insured through private home loan insurance coverage on the traditional market.

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The Cal, PLUS Traditional program is a traditional very first home mortgage with a somewhat greater 30 year fixed interest rate than our standard traditional program and is combined with the Cal, HFA Zero Interest Program (ZIP) for closing expenses.  Learn More Here  put "down" or the deposit on your home mortgage can be one of the biggest difficulties for numerous newbie homebuyers.

This type of assistance is often called a second or subordinate loan. Cal, HFA's secondary loans are "quiet seconds", indicating payments on this loan are postponed so you do not need to make a payment on this help until your house is offered, refinanced or paid completely. This helps to keep your monthly mortgage payment inexpensive.

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5% of the purchase price or evaluated worth to help with down payment and/or closing costs, with a cap of $11,000. USDA, Conventional: My, House offers a deferred-payment junior loan of a quantity up to the lesser of 3% of the purchase cost or evaluated value to assist with deposit and/or closing expenses, with a cap of $11,000.

Keep in mind that the $11,000 cap does not apply to school employees and fire department workers, or those buying new building and construction houses, manufactured houses, or houses with ADUs.