What is a MyCommunity Mortgage? The MyCommunity Mortgage® is a Fannie Mae 3% down payment affordable lending program that gives borrowers access to flexible underwriting guidelines and reduced private mortgage insurance (PMI) coverage for moderate income home buyers in California. The MyCommunity loan program has some subtle differences in qualifying criteria between the 3% down (97% […]
Teachers who purchased using the CalSTRS 80/17 Teacher Home Loan can now use the new CalHERO Teacher Loan program to refinance and consolidate their soon to be exploding CalSTRS mortgage and avoid a train wreck waiting to happen. The CalSTRS 80/17 home buying program was discontinued in September of 2011, as mentioned in this announcement, […]
CalHERO is a new mortgage program to help California’s HERO Teachers, Public Employees, Police, Nurses, Firefighters, first responders purchase or refinance a home. CalHERO was created as an affordable financing alternative to the suspended CalSTRS® 80/17 Teacher loan and discontinued CalPERS® public employee home loan program. The CalHero Mortgage Program is offered exclusively by Supreme […]
The US. Dept. of Housing and Urban Development (HUD) offers a home buying and mortgage program for Teachers (Pre-K-12), Police and Law Enforcement, Firefighters, and EMT/Emergency Responders, called the Good Neighbor Next Door Program (GNND). The Good Neighbor Next Door program allows eligible buyers to purchase homes in targeted revitalization areas for 50% off the […]
CalHFA resurrected the Extra Credit Teacher Program (ECTP). ECTP is a first time home buyer program that provides assistance in the form of down payment or closing cost money for all teachers, support staff, administrators, bus drivers, food service, and janitors. UPDATE: The CalHFA ECTP down payment assistance program for teachers has been discontinued and […]
The CalPLUS with ZIP (Zero Interest Program) home mortgage loan is a CalHFA down payment assistance program to help California home buyers even if they aren’t first time buyers. The CalPLUS w/ ZIP mortgage program comes in two flavors. CalPLUS Conventional – up to 97% LTV CalPLUS FHA – up to 96.5% LTV, Both assistance loan […]
Temecula First Time Home Buyer (FTHB) assistance loan programs do exist and funds are still available for first time home buyers in the city of Temecula, CA and surrounding communities. In fact, if you meet the minimum credit score requirement, and your income doesn’t exceed the household limit, some Temecula home buyer assistance programs DON’T […]
