Type of Assistance:
Two types of loan products: Welcome Home and Welcome to the Neighborhood
Deferral period?45 years. Repayment at end of term, resale or refinance for cash out.
Layered Aid allowed?Yes.
City equity participation at time of sale:Based on percentage of loan to purchase price.
1st mortgage restrictions:
List of approved lendersYes.
120% of AMI
Purchaser Down Payment Requirement?
Minimum Credit Score700 FICO if not using a CalHFA product,
Property Type:Single family, townhouse or condominium.
Purchase price limit:None.
Owner occupancy percentage in condo complexes?None.
May Lee, Housing Programs Manager