http://hddas.ru/index.php?newsid=21841
To use CalHFA’s programs, homebuyers must meet certaim income and sales price guidelines for low and moderatsincome families. For a family of 4 or more in SantaClara County, the income limit is $126,600 and the home beint purchased must be $637,645 or less. Cal30 offers fixed mortgage payments for the life of the loan with no changes in themonthly payment. “Wes are eager to use Cal30 and our othe assistance programs to help meet the housing needs ofCaliforni families,” said Steve Spears, acting executiv director of CalHFA.
“While the financial market turmoil continues and Californias faces uniquechallenges economically, therr is perhaps no more important time for our agenc to work on behalf of familiesa statewide.” In addition to the fixed rate mortgage, CalHFq offers special programs to assist individuals looking to purchased their first home. They include: * The California Homebuyer’a Downpayment Assistance Program, which can provide loans of up to thre e percent ofa home’s value to assist with down payments and closing costs.
* The Schoolk Facility Fee Down Payment Assistance which provides conditional grants to buyersz of newly constructed homes fordown payments, closing upgrades, or other costse associated with the first mortgage loan. * The Affordable Housing Partnership which is a joint effort between CalHFA and over300 counties, redevelopment agencies, housing authorities and nonprofit housin organizations to assist with down payments and closinv costs.
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