Archive | CHDAP

FHA Repairs CalHFA FHA & CHDAP Interpretation

FHA Repairs CalHFA FHA & CHDAP Interpretation UPDATE: Effective immediately on January 29th, 2013 the federal government has given a “transitional” period for CalHFA to comply with guidelines. This means that CHDAP is temporarily reinstated. The emphasis here is on the word “temporary”.  Any FHA loans originated after June 1st, 2013 may be ineligible for […]

Continue Reading

CalHFA CHDAP Makes Buying Easier says Broadview Mortgage

Exciting news coming from the California Housing Finance Agency on March 1st, 2012 regarding the CHDAP homebuyer assistance program. CHDAP stands for California Home Buyer Assistance Program and offers 3% of the purchase price of the home to qualified first time homebuyers that can be used for down payment or closing costs. What’s new?  Minimum […]

Continue Reading

CalHFA CHDAP and CHF Platinum – Together Again

For several months now, CalHFA required that at least half of a lender’s CHDAP loans MUST be used with a CalHFA first mortgage. This created challenges because there are certain aspects of a CalHFA first mortgage that do not necessarily make the loan program the best option for the home buyer. We’ve written extensively about […]

Continue Reading

How to use the CalHFA CHDAP loan to lower your mortgage payments

  4/4/11 NOTE: FHA mortgage insurance premiums have changed since this was first published June 29th, 2009.  Disregard the specific dollar amounts in the examples, the strategy is still as effective. Down payment and closing cost assistance programs seem to be a rarity in today’s strict lending market.  With the reinstatement of the CalHFA California […]

Continue Reading