HomePath Ready Buyer Program

Fannie Mae’s HomePath® Ready Buyer™ Program requires as little as 3% down payment and provides up to 3% closing cost assistance for qualified creditworthy first time home buyers. The purpose of Fannie Mae’s HomePath Ready Buyer Program is to educate first time home buyers to help them better understand the home buying process…to make better buying […]

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MyHOME down payment assistance

CalHFA MyHome Assistance Program

What is the CalHFA MyHome Assistance Program? CalHFA announced a new first time homebuyer assistance program that can be used for down payment or as closing cost assistance. CalHFA’s MyHome Assistance program provides 5% of the sale price in the form of a ‘silent second’ loan with payments deferred for 30 years.  This 5% satisfies […]

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CalHERO Mortgage Elibility

CalHERO Home Loan

The CalHERO™ Mortgage is a California real estate reward savings program for Police, Firefighters, Veterans, Nurses, and Teachers when they buy, sell, or refinance a home.  CalHERO is often referred to as a mortgage program for heroes, the hero home loan, or a first responder home loan. The goal of a CalHERO Home Loan is […]

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Home Ready Mortgage

HomeReady Mortgage Program

What is the HomeReady™ Mortgage? HomeReady™ is Fannie Mae’s new affordable financing mortgage program designed to help today’s credit worthy borrowers who have low to moderate incomes. Fannie Mae’s goal with HomeReady is to expand access to credit while supporting responsible and sustainable homeownership.  Sustainable ownership is achieved through a comprehensive homeownership education class to […]

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convert primary to rental guidelines

Move Up Buyers Converting Primary to Rental Get Reprieve From Fannie Mae

30% Equity No Longer Required on Departing Primary Residence to Count Rental Income Fannie Mae just announced a MAJOR guideline change for homeowners who want to convert their principle residence to an investment property and buy another primary home.  Effective immediately, move up home buyers with less than 30% equity in their primary residence will now be […]

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FHA loan student loan deferred

FHA No Longer Excluding Deferred Student Loan Payments From DTI Ratios

FHA’s new 4000.1 handbook states lenders can no longer exclude deferred student loan debt payments from a borrowers DTI ratio.  This change in how FHA treats deferred obligations takes effect September 14, 2015, and may significantly reduce how much a buyer qualifies for when using FHA financing. Essentially, deferred loans are no longer treated differently […]

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Golden State Finance Authority Homebuyer Assistance Programs

The Golden State Finance Authority (GSFA) is a California housing finance agency and public entity that supports affordable homeownership with down payment and closing cost assistance programs for low to moderate wage income homebuyers in California. Formerly known as CHF (or CRHMFA – California Rural Home Mortgage Finance Authority), GSFA homebuyer assistance programs have helped […]

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