Today's 30 year Fixed Rate: 6.625% 6.71%APR

CALHFA, No Down Loans

CALHFA, No Down Loans

CALHFA is offered by very few lenders and it is specific to California.  A seller can pay all the borrrow’s closing costs or the these closoing costs can be paid by CALHFA in exchange for a higher rate.  It is considered a true 100% financing product.  It is not as compeitive as USDA in either rate or mortgage insurance, but this loan is available in non-rural areas unlike USDA.

Is CALHFA a no down payment loan?

Yes, it can be a no down payment loan.

What is CALHFA financing?

CALHFA financing of either a FHA loan or a Conventional loan combined with a 2nd mortgage. The rates are not as good as they would be with a 3% or 3.5% down scenario.
They are about 1% higher, but still there is no down advantage.

Are there income limits asscoiated with these loans?

Yes and they are county specific.  If you are a married couple, without kids, these limits are very low.  If you have at least 2 kids, you should be able to be under the requirements.

Is there a minimum fico score?


What are the debt ratio requirements?

Cannot exceed 45%

Are there geogrpahic limits?

No, you can buy anywhere in California.

Are there loan limits?

Yes you can borrow up to at least $548,250 in most counties. Some counties, in rural areas, are lower.





NMLS 1665027 CA DRE
Personal NMLS 282851

Equal Housing Lender


RC Advantage
698 Whiting St
Grass Valley, CA 95945