Can You Get a Mortgage With No Credit History? #home #mortgage #rates #today

#can i get a home loan


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Can You Get a Mortgage With No Credit History?

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The first thing most lenders look at when you want to buy a home is your credit history. Most people have traditional lines of credit such as credit cards, auto loans or a current mortgage that form a track record of how they manage debt.

But if you have no credit history or what s sometimes called a nontraditional credit history, which is one with no credit card debt or other kinds of loans, it might be harder to establish a set of credit stats. That could make it tough to find a mortgage lender who will work with you. But don’t give up, it’s not impossible.

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get advice from a mortgage broker

  • Understand what you can afford
  • Find the best loan
  • Get approved and funded in 15 days

Here s how to get a home loan with no credit:

  1. Ask your landlord or service provider to report on-time housing and utility payments to one of the three main credit reporting agencies.
  2. Get a loan backed by the Federal Housing Administration.
  3. Consider a smaller lender or a credit union.

No credit history? A payment history can help

Even if you have no credit history from a mortgage lender s point of view, your payment history is out there; it’s just a little harder to locate, making it more difficult for a computer to generate a credit score.

For example, Experian, one of the three major credit-reporting agencies, accepts rental payment history information from third-party processors as proof of credit history, but it’s up to your landlord to opt in to the system, says Rod Griffin, Experian’s director of public education.

Although some larger multifamily apartment complexes are already reporting this information automatically, private landlords of single units or a handful of properties might not realize they can do their tenants this service, Griffin adds. There’s a nominal monthly fee for landlords to collect and report their tenants’ payments online via third-party processors such as PayYourRent, ClearNow and RentTrack.

Don’t forget that student loans get factored into your credit score, Griffin says. Making timely payments for at least six months or more will help build a positive credit score. Utility payments and cell phone bills are also considered, but fewer of those companies are jumping on the reporting bandwagon because of privacy laws in some states.

These type of payments establish a track record that FICO and VantageScore have included in their credit scoring formulas, Griffin says. The idea that you need credit cards or other personal loans to qualify for a home loan simply isn’t true anymore, he says.

“Paying your rent and utility bills on time shows responsibility and tells a story of how well you’re managing those payments — and how well you might manage other debts,” Griffin says. On the flip side, late rent or lease payments and negative civil judgments can also be reported and will work against you, he cautions.

Consider a government loan

One way to buy a home if you don’t have a traditional credit history is to consider a loan backed by the Federal Housing Administration. Guidelines from the U.S. Department of Housing and Urban Development for FHA loans address how nontraditional credit histories can be used to qualify for a mortgage. Successful applicants must be able to show at least one year of:

  • No delinquency on rental payments.
  • No more than one 30-day delinquency to other creditors, such as utility or car insurance payments.
  • No collection accounts other than medical-related incidents.

Also, your debts (including your proposed mortgage payment) must not total more than 43% of your total income, and you must have at least one month’s worth of cash reserves left after settlement of the mortgage costs and down payment.

However, just because you qualify for an FHA loan doesn’t mean the best mortgage lenders will open their mortgage doors to you. Many financial institutions don’t want the hassle of manually collecting a paper trail — called a “manual underwrite” mortgage loan — to help you get financed. It’s easier for them to work with people who have an established credit history and FICO or VantageScore.

Turn to smaller lenders

Luckily, plenty of lenders out there are more flexible about working with people who have nontraditional credit histories. Independent mortgage brokers, some online lenders and smaller banks might give you the one-on-one attention you need to qualify for a loan if you’re using rental or utility payments as proof of creditworthiness.

Credit unions are another option. They can provide you with personal service and more flexible pre-qualification criteria. In 2015, credit unions originated more than 8% of U.S. mortgages, nearly double the amount in 2010, according to the CUNA Mutual Group.

Next steps

If you can show an on-time payment history, have little debt and have saved enough to cover mortgage costs with some financial wiggle room, you can qualify for a mortgage despite having a credit history that doesn’t walk the conventional line. Speak to a few lenders to find out what options might be available to you.

Now is the perfect time to set yourself up for future success to qualify for a home loan. If you’re currently renting, ask your landlord and service providers to report your payments to a processor that works with the credit reporting agencies. Keep up timely payments and you’ll have a solid credit score when the time is right to buy a home.

Fill out the form below and have an expert mortgage broker reach out to help you with your mortgage.

This article was updated. It was originally published Dec. 31, 2014.

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Extra Payment Calculator – Pay off debt quicker and save on interest charges #mortgage #protection

#mortgage acceleration calculator


What is the impact of making extra payments on my debt?

Over the course of a loan amortization you will spend hundreds, thousands, and maybe even hundreds of thousands in interest. By making a small additional monthly payment toward principal, you can greatly accelerate the term of the loan and, thereby, realize tremendous savings in interest payments. Use our extra payment calculator to determine how much more quickly you may be able to pay off your debt.

Trading Unmanageable Debt for Manageable Debt

If you are like many people who find themselves with too much debt, you may need to consider refinancing or consolidating your loans. You might find yourself in a predicament where no matter how hard you try, you just cannot cut expenses any further or earn more income. The only solution is to lower your monthly debt payments.

There are only three ways to lower monthly debt payments: reduce the principal amount, get a lower interest rate, and extend the payments over a longer term. These three principles are used in refinancing and debt consolidation. Let’s see how these work and then look at the advantages and disadvantages.

How Much Debt Can You Handle?

If you feel that you have too much debt, you are not alone. Most people have substantial debt; many have more than they can handle. However, debt is not all bad. Sometimes it makes sense to use borrowed money for investments. However, most folks are not using debt in that way; they are using it to make ordinary purchases of things they would probably be better off without, anyway. In our competitive society, spending has become a status symbol. This encourages people to spend more than they should — more than they have. Consequently, they run up tremendous debt.

While some debt is okay, too much debt is not. So, how do you know whether you have too much debt or not? First let’s look at the different kinds of debt we might incur.

Responsible Use Of Credit

While credit is very important to the economy, its abuse is harmful. Credit is extended with the faith that borrowers will repay the debt. Goods and services are provided on credit with the expectation that they will be paid for with money in the future. Credit makes commerce more convenient. When credit is abused, everyone loses. Credit abuse increases the cost of credit to everyone.

One should never use credit to purchase things for which one will not be able to pay in the future. Many impulse purchases are made on credit with little thought given to how the debt will be repaid in the future. If one calculated the true cost of goods bought on credit, one would have second thoughts about making the purchase in the first place. Here is an example: a new television flat-screen HDTV model retails for $5,000. If purchased on a credit card with a 12% annual percentage rate (APR) compounded daily, and with minimum monthly payments of $166 paid over three years, it winds up costing over $5,980. Is it worth almost $1,000 more to have it now (furthermore, the retail price in 3 years will probably drop)? That is like going into a store that advertised “SALE–ADD 20% TO EVERY PURCHASE.”

This information may help you analyze your financial needs. It is based on information and assumptions provided by you regarding your goals, expectations and financial situation. The calculations do not infer that the company assumes any fiduciary duties. The calculations provided should not be construed as financial, legal or tax advice. In addition, such information should not be relied upon as the only source of information. This information is supplied from sources we believe to be reliable but we cannot guarantee its accuracy. Hypothetical illustrations may provide historical or current performance information. Past performance does not guarantee nor indicate future results.

Mortgage Accelerator: Home #cash #call #mortgage

#mortgage acceleration calculator


Welcome to Mortgage Accelerator

Mortgage Accelerator uses proven financial strategies to help American homeowners achieve their financial goals. Our mortgage acceleration program helps you own your home in less than half the time by using common practices used by fortune 500 companies.

An average Mortgage Accelerator customer will pay their mortgage off in 6-15 years- with little or no change to their spending habits and without increasing their monthly payments. A mortgage-free future is just around the corner!

Thank you for all your assistance. I wouldn’t have been able to make it through the past year without your help. I would recommend your program to anyone looking to get out of debt.

Sheryl Malone, Utah

I just wanted to thank you. You have no idea how much better I feel knowing that you are working with me to get my debt down.

James Harding, Nevada

We never knew it could be so easy to get out of debt so fast. We are going to be out of debt in 10 years or less and we don’t pay anymore into our bills than what we paid before! We would definitely recommend this program to friends and family!

Nick and Ashley Taylor, Utah

Check out what Suze Orman and Dave Ramsey say about mortgage acceleration.

What Are The Current Commercial Mortgage Rates? #mortgage #rate #trend

#commercial mortgage loans


What Are The Current Commercial Mortgage Rates?

Updated July 5, 2016

Commercial property mortgage rates are almost always higher than residential mortgage rates. This is simply because commercial loans have inherently more risk.

Lenders determine today s commercial mortgage rates using a number of factors including:

LOAN-TO-VALUE the amount you are borrowing relative to the value of the property

DEBT SERVICE COVERAGE RATIO your ability to pay the loan each month

RATE SPREAD the amount your lender charges over the prime rate or a specific interest rate swap.

The best way to find current commercial mortgage rates is to first determine what your commercial lending options are. I have included the following lender/loan type roundup to make your search simpler:


3.35% 4.30%*

Life insurance companies have historically offered the lowest rates on commercial loans but are often difficult to get. Companies like Prudential and MetLife offer commercial property loans with relatively low rates if you can qualify.

These loan amounts usually have a $5 million minimum and are limited to properties that are less than 20 years old .


3.15% 5.00%*

Conduit CMBS lenders offer competitive commercial mortgage rates based on comparable on the run rates plus a lender specific spread .

CMBS loans offer lower rates and higher leverage than most conventional bank loans. Two of the nation s largest Conduit Lenders are Deutsche Bank and JPMorgan Securities .


3.35% 6.00%*

Commercial banks and credit unions offer a wide range of competitive commercial mortgage rates depending upon your property type and the length of your loan.

Funding is provided for non-owner investment properties. 51% owner occupied as well as special purpose commercial properties .

SBA 7(a) + SBA 504

4.25% 6.25%* / 3.75% 5.30%*

SBA commercial property loans are set by the Small Business Administration. The SBA establishes a maximum that designated lenders can charge above a specified base rate.

The base rate is normally pegged to the WSJ Prime Rate or the one month LIBOR Rate + a certain percentage.

SBA 7 (a) loans are variable rate instruments and currently carry a maximum rate spread of 2.75% .

SBA 504 loans are fixed rate instruments with rates that are determined by monthly debenture bond sales.


5.50% 6.50%*

USDA Business and Industry loans are partially-guaranteed by the Federal Government and designed to promote job growth in rural areas.

Variable and fixed rates are available at similar interest rates to the SBA loan program.

USDA loans offer loan maximums up to $25 million along with the ability to finance non-owner occupied commercial properties .


6.00% 18.00%*

Soft money commercial real estate loans act as a hybrid between traditional and hard money loans .

Soft money lenders normally provide lower rates and longer terms (6 months to 5 years) than hard money funding sources.

These lenders also provide a wider range of financing terms since they are normally funded by private investors .


10.00% 19.00%*

Commercial hard money loans have the highest interest rates of all available commercial loan types. These are usually interest only loans that range from 3 to 18 months .

Normally used for short term financing needs that require a quick closing .

Origination fees can be quite high, ranging anywhere from 2 to 10 points, depending upon your financial situation and loan-to-value.

*The above rates should only be used as a guide to get a quick overview of current commercial mortgage interest rates. Rates are subject to daily changes and vary greatly with different lenders and borrower types.

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Refinance Calculator #cornerstone #mortgage

#mortgage refinancing calculator


Refinance Calculator

The refinance calculator is used to plan the refinancing of your loan with various choices: Possible cash out, refinance cost, and points are all considered. It will compare the monthly payment, total payment, interest, and offers the possibility to view the existing loan and refinanced loan side-by-side.

To refinance a loan, you take out a new loan, and pay off the old one with it. Obviously, the new loan should offer you improved terms over the old loan. If the old loan involved the use of collateral (assets you own that guaranteed the load), they can also be used for the new loan. Sometimes a borrower will borrow a little extra during refinancing to take some equity out of an asset (known as “cash out” refinancing).

A refinancing may also allow you to change the type of loan you are making, as you may wish to switch from a variable-interest rate loan to a fixed rate of interest.

In a refinancing it’s important to take all the extras into account. There are often fees and charges that may make the refinancing not worthwhile. You should carefully compare the refinancing with your previous loan, looking at the full set of costs. A prepayment penalty on some loans, particularly car loans, is one to watch out for.

Many people refinance car loans to increase the length of the loan so as to reduce the size of monthly payments. They should realize, of course, that this increases the cost of the loans because more interest is paid use the calculator to see just how this works.

You may also want to watch out for getting stuck with an “upside down” auto loan this means a loan in which the car you own isn’t worth as much as the loan you are paying off. If you increase the length of your loan, you should realize that your car will decline in value over the period that you pay off the loan. Late in the loan period, if you try to sell the car, you won’t be able to recuperate as much as you owe the lender, and you’ll have to spend your own money to pay off the loan.

But, for whatever kind of loan you may have, there may be good reasons to refinance. One is that interest rates may have sharply declined. If you borrowed in a period of high general interest rates, and they’ve since gotten lower, you might be able to arrange a good deal with a different lender based on the lower rates. Sometimes even the same lender will make such a deal, knowing that if they don’t, you’ll go elsewhere.

Another reason for refinancing may be that your credit score has improved. This means that you now have access to many better loan deals than you could get previously. You might have corrected errors in your credit scores, or simply gone for a period of caring carefully for your credit so that your scores improved.

When considering a refinancing, shop around. Talk to a variety of lenders, and use the calculator to compare their terms. Remember that, once you’ve made a refinancing deal, you’ll have to live with it for a long time, so make sure you’re happy with it.

Orange County Home Loans #mortgage #modification

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Trusted and experienced is what keeps us at the fore front our industry. Spectrum One Mortgage has funded over a Billion dollars since its inception. Since real estate tends to represent the single largest investment most people will ever make, it is vital that every borrower secure the best financing available at the best terms possible. Every borrower has different needs and every property is unique. Every lender has their own unique rules and programs which can be confusing. That’s where we can make a difference for you. Our long history in this business and our access to lenders allows us to make certain our borrowers get the best loan possible. Our many repeat customers attest to this unique benefit, and to our integrity and dedication.

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Personal service is another key component to our success. Each client is treated as relationship rather than a transaction. Our clients are the life blood of our business. We are a customer first company with the borrowers best interest always as our top priority.

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Low rates is all you will experience when employing Spectrum One Mortgage with your single largest investment in your life. With our customer first focus we put the consumer in the drivers seat to help this experience be a speedy, favorable and memorable transaction.

Our lowest rates in the industry ensure that we have repeat business. Happy Clients, Raving Fans as we like to call them. We guarantee we will meet or beat any reputable quote that our clients bring to us from any of our competitors. Bottom Line is we don’t lose. For more information specific to your situation, please click on the appropriate link, or give us a call at (888) 813-5655. We look forward to earning your business.

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Our overriding focus is in satisfying the diverse loan and investment needs of our customers with honesty and integrity. We do this by consistently providing quality products tailored to their clients situations. Based on a combined 42 years of proven service to our clients, we are confident that we can offer you a great loan to meet your needs.

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Second Mortgages: Basics, Pros and Cons #pmi #mortgage #insurance

#second mortgage loans


Second Mortgages – Advantages and Disadvantages

Updated July 10, 2016

A second mortgage is a loan that lets you borrow against the value of your home. Your home is an asset, and over time, that asset can gain value. Second mortgages, also known as home equity lines of credit (HELOCs) are a way to put that asset towards other projects and goals.

What is a Second Mortgage?

A second mortgage is a loan that uses your home as collateral – similar to a loan you might have used to purchase your home.

The loan is known as a “second” mortgage because your purchase loan is often the first loan that is secured by a lien on your home .

Second mortgages tap into the equity in your home. which you might have built up with monthly payments or through market value increases.

Loans can come in several different forms.

Lump sum: a standard second mortgage is a one-time loan that provides a lump sum of money you can use for whatever you want. With that type of loan, you’ll repay the loan gradually over time, often with fixed monthly payments. With each payment, you pay a portion of the interest costs and a portion of your loan balance (this process is called amortization ).

Line of credit: it’s also possible to borrow using a line of credit. or a pool of money that you can draw from. Whit that type of loan, you don’t ever have to take any money – but you have the option to do so if you want to. You’ll get a maximum borrowing limit, and you can continue borrowing (multiple times) until you reach that maximum limit.

Like a credit card, you can even repay and then borrow again.

Rate choices: depending on the type of loan you use (and your preferences), your loan might come with a fixed interest rate that helps you plan your payments for years to come. Variable rate loans are also available and are the norm for lines of credit.

Advantages of Second Mortgages

Loan amount: second mortgages allow you to borrow a large amount. Because the loan is secured against your home (which is generally worth a lot of money), you have access to more than you could get without using your home as collateral. How much can you borrow? It depends on your lender, but you might expect to borrow (counting all of your loans – first and second mortgages) up to 80% of your home’s value .

Interest rates: second mortgages often have lower interest rates than other types of debt. Again, securing the loan with your home helps you because it reduces risk for your lender. Unlike unsecured personal loans like credit cards, second mortgage interest rates are commonly in the single digits.

Tax benefits: in some cases, you’ll get a deduction for interest paid on a second mortgage. There are numerous technicalities to be aware of, so ask your tax preparer before you start taking deductions. For more information, learn about the mortgage interest deduction .

Disadvantages of Second Mortgages

Of course, life is full of tradeoffs. Be aware of the pitfalls of using a second mortgage. The costs and risks mean that these loans should be used wisely.

Risk of foreclosure: one of the biggest problems with a second mortgage is that you have to put your home on the line. If you stop making payments, your lender will be able to take your home through foreclosure. which can cause serious problems for you and your family. For that reason, it rarely makes sense to use a second mortgage for “current consumption” costs such as entertainment and regular living expenses – it’s just not sustainable or worth the risk.

Cost: second mortgages, like your purchase loan, can be expensive. You’ll need to pay numerous costs for things like credit checks, appraisals. origination fees. and more. Even if you’re promised a “no closing cost” loan, you’re still paying – you just won’t see those costs transparently.

Interest costs: any time you borrow, you’re paying interest. Second mortgage rates are typically lower than credit card interest rates, but they’re often slightly higher than your first loan’s rate. Second mortgage lenders take more risk than the lender who made your first loan. If you stop making payments, the second mortgage lender won’t get paid unless and until the first lender gets all of their money back.

Common Uses of Second Mortgages

Choose wisely how you use funds from your loan. It’s best to put that money towards something that will improve your net worth (or your home’s value) in the future – because you need to repay that loan.

  • Home improvements are a common choice because the assumption is that you’ll repay the loan when you sell your home with a higher sales price
  • Avoiding private mortgage insurance (PMI) might be possible with a combination of loans – just make sure it makes sense compared to paying – and then canceling – PMI
  • Debt consolidation: you can often get a lower rate. but you might be switching from unsecured loans to a loan that could cost you your house
  • Education: as with other situations, you’re creating a situation where you could face foreclosure. See if standard student loans are a better option

Tips for Getting a Second Mortgage

Shop around and get quotes from at least three different sources. Be sure to include the following in your search:

Get prepared for the process by getting money into the right places and getting your documents ready. This will make the process much easier and less stressful .

Beware of dangerous loan features. Most conventional loans do not have these problems, but it’s worth keeping an eye out for them:

  • Balloon payments that you aren’t able to budget for
  • Voluntary insurance that might duplicate coverage you already have (or give you coverage you don’t need)
  • Prepayment penalties that prevent you from paying off your debt early

Second Mortgage Payment Calculator with Amortization Schedule #biweekly #mortgage #calculator

#second mortgage loans


Second Mortgage Payment Calculator
to Calculate Home Equity Payment

[ Skip to Calculator ]

Explains what a “2nd mortgage” is and what its drawbacks are, and helps you to determine the PI payment and the required work hours.

This free online Second Mortgage Payment Calculator will calculate the monthly principal and interest payment needed to repay a home equity loan, plus calculate the total interest you will pay by the time you pay off the loan.

Plus, unlike other second mortgage calculators, the second home mortgage calculator on this page will even calculate how many hours you will need to allocate to working in order to pay just the interest on the home equity loan.

Note: If you would like to calculate the size of the home equity loan you might qualify for, please visit the Home Equity Loan Calculator.

Second Mortgage Definition

In case you’re not familiar with the term, a second mortgage (otherwise referred to as a Home Equity Loan) is simply a loan taken out against your home after you already have a first mortgage.

What is Second Mortgage?

Basically, a second mortgage allows the borrower to tap into the equity they have accumulated over the course of repaying their first mortgage. Equity is the difference between what you owe on the home and what the home is expected to sell for. So if you currently owed $125,000 on a home that would sell for $150,000, you would have $25,000 in equity.

Of course the lending institutions view the equity in your home as a potential revenue source. Depending on how much of your home’s appraised value they are willing to allow you to borrow (loan to value ratio), lending institutions are usually quite anxious to let you re-borrow a portion of the funds you’ve worked so hard to pay off.

Most people who take out second mortgages do so because they need access to a large sum of cash, cash for things like home remodeling, debt consolidation, or paying for their child’s college education.

Disadvantages of Second Mortgages

The drawbacks to taking out a home equity loan, are as follows.

Increased Risk. If an unexpected event causes your income to drop and you can no longer afford your first mortgage payment, you may end up losing your home — but still be liable for the 2nd loan. That’s because the holder of the first house loan gets paid first when the home is sold in foreclosure, and if the proceeds aren’t enough to cover the equity loan, you are left holding the bill — even though you no longer own the home.

Higher Rates. Since the lender holding the equity loan is more at risk than the primary lender, interest rates for second mortgages are typically higher than rates for first mortgages. Therefore, if you are considering an equity loan, you might be better off by refinancing your first mortgage with a “cash-out” option. This would allow you to withdraw the needed cash from your available equity while still paying the lower interest rates.

Living Beyond Your Means. Make no mistake, if you are borrowing money to purchase goods and services, you are living beyond your means. And the more you live beyond your means, the more likely it is that at some time in the future your over-spending will catch up with you — perhaps causing you to endure a long period of financial hardship.

With that, let’s use the Second Mortgage Payment Calculator to calculate the monthly principal and interest payment you will need to make on your home equity loan.

If you liked this page, please share it, or give it a Like, +1, Tweet, or Pin.

Second mortgage loan amount: The dollar amount of the second or home equity loan (principal amount).

Annual interest rate: The annual percentage rate (APR) of the home equity loan.

Term of 2nd mortgage in number of years: The term of the equity loan in number of years, which is usually shorter than the term of a first or primary house loan.

Real hourly wage. Optional: If you would like the second mortgage payment calculator to calculate the number of hours you will have to work just to pay the equity loan interest charges, enter your real hourly wage in this field. Clicking on the link will open the Real Hourly Wage Calculator in a new window.

Monthly second mortgage payment: This how much your second mortgage payment will be. The second mortgage payment calculator computes a principal and interest payment only and does not include and property tax, insurance, or PMI payments that may apply.

Total of all second mortgage payments: This is the total of all of your monthly second loan principal and interest payments.

Interest cost: This is how much interest you will pay between now and when you finish the 2nd loan repayment.

Number of work hours to pay interest charges: This is how many hours you will need to allocate to working in order to pay just the 2nd loan interest charges. This does not include all of the hours you will need to work to pay for the down payment, 1st loan interest and principal, 2nd loan principal, and all of the upfront and ongoing costs that come with buying and owning a home.

40-hour work weeks to pay interest charges: This is how many 40-hour work weeks it will take you to just to pay the second loan interest charges. Again, this does not include all of the 40-hour work weeks it will take you to pay for the down payment, 1st loan interest and principal, 2nd loan principal, and all of the upfront and ongoing costs that come with buying and owning a home.

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    Nova Home Loans – Mortgage Brokers – 2850 E Camelback Rd, Phoenix, AZ – Phone

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    Nova Home Loans

    Had a horrible experience with Nova Home loans. Their loan officer with initials TS bait and switched the rate on me. When he found out that we were not going with them he called the selling realtor and told her that we were not approved and the seller almost canceled on us along with our 4000.00 earnest money. STAY AWAY FROM NOVA HOME LOANS.

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    When I first purchased my home, I was referred to Jim Ross, who was with a different company. I tracked him down again at Nova Home Loans when looking to lower my interest rate. Jim remembered me and immediately got to work on the process. He brought in Eddie Rodriguez and Marcel Martinez to work on the deal. These guys made this process PAINLESS – which – is very rare when looking for home financing. It took less than 30 days and I never had to leave my house to sign papers. Everything came to me. That s some pretty cool service! I ve referred several people to Nova and will continue to do so as long as this team is in place.

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    Laura A. said “In my experiences with home buying in the past, I must admit that I was not exactly expecting this one to be much different. I m used to calling the lender repeatedly for one reason or another; a fax that…” read more

    California Housing Finance Agency #get #a #home #loan

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    CalHFA supports the needs of renters and homebuyers

    What’s New at CalHFA

    • Program Bulletin #2016-17 – CalHFA Adds Additional Rate Lock Option
    • Program Bulletin #2016-16 – Update to the CalHFA Mortgage Credit Certificate (MCC) Tax Credit Program Fees
    • Program Bulletin #2016-15 – Expansion of and Updates to the Extra Credit Teacher Home Purchase Program (ECTP)
    • Program Bulletin #2016-14 – Updated Sales Price Limits for the CalHFA Mortgage Credit Certificate Tax Credit Program
    • Program Bulletin #2016-13 – Updated Income Limits for all CalHFA Loan Programs and CalHFA Mortgage Credit Certificate Tax Credit Program
    • Press Release 2016-06-30 – California Celebrates a Successful Homeownership Month
    • Program Bulletin #2016-12 – Updates to Annual Lender Recertifications
    • Press Release 2016-06-21 – CalHFA Approved to Borrow from Federal Home Loan Bank of San Francisco
    • Request For Qualifications. Legal Counsel Services
    • NCSHA Press Release. HUD affirms HFAs’ ability to provide down payment assistance.
    • Program Bulletin #2016-11 – CalHFA Announces New Options for ZIP Down Payment Assistance and Changes to the MyHome Program
    • Program Bulletin #2016-10 – Acceptance of Mortgage Electronic Registration System (MERS) for all CalHFA Subordinate Loans
    • Program Bulletin #2016-09 – CalHFA Announces Additional Master Servicer
    • Press Release 2016-04-05 – CalHFA Expands Program to Help More Southern California Residents Become Homeowners
    • Press Release 2016-04-05 – CalHFA Expands Program to Help More Californians Become Homeowners
    • Get to know CalHFA and our programs by viewing our Video Library .

      Hardship Foreclosure Assistance

      • Are you experiencing financial hardship and having difficulties making your mortgage payment? Visit CalHFA’s Hardship Assistance Page to view options available to you.
      • Keep Your Home California programs are designed for homeowners who are struggling to pay their mortgages.

      • The Home Affordable Refinance Program (HARP) is available on loans owned by Fannie Mae and Freddie Mac. If these loans were insured by the California Housing Loan Insurance Fund they may be eligible to have existing mortgage insurance transferred to a new refinance loan.

      Other Resources