The CHDAP provides a deferred-payment junior loan – up to 3% of the purchase price, or appraised value, whichever is less, to be used for their down payment and/or closing costs. This program may be combined with a CalHFA or non-CalHFA, first mortgage loan.
Review the sections below to find out more about the CHDAP program.
Program Eligibility | Borrower Contribution | Interest Rate | Homebuyer Education | How to Apply
(CHDAP program)
PROGRAM ELIGIBILITY
Am I eligible to apply for this program?
Review the guidelines below for both “Borrower” and “Property” Requirements to determine if you may be eligible to apply for the CHDAP program.
Borrower Requirements
- Be a first-time homebuyer
- Occupy the property as their primary residence, non-occupant co-borrowers are not allowed
- CalHFA borrowers must complete homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.
- Your income must be less than the allowable CHDAP income limits.
- Meet the requirement of the lender and mortgage insurer / guarantor
*In the case of conflicting guidelines, the lender must follow the more restrictive.
Property Requirements
- Sales price of the home cannot exceed CalHFA's sales price limits established for the county in which the property is located
- Be a single-family, one-unit residence, including approved condominium/PUDs
*In the case of conflicting guidelines, the lender must follow the more restrictive.
Additional Property Guidelines
- Properties sold at auction by the builder or construction lender are not eligible
- Condominiums must meet the guidelines of the first mortgage
- Manufactured housing is not permitted
- There is a five acre maximum on the size of the property
- Leaseholds/Land Trusts and Co-ops are not permitted
- Meet the requirements of the mortgage insurer/guarantor
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(CHDAP program)
MINIMUM BORROWER CONTRIBUTION
Is there a minimum contribution that I need in addition to this down payment assistance?
When using a CHDAP loan, a minimum contribution is required from your own funds. The contribution must be 1% of the sales price or $1,000, whichever is greater.
Please contact a CalHFA loan officer for complete details.
*In the case of conflicting guidelines, the lender must follow the more restrictive.
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(CHDAP program)
INTEREST RATE
What is the interest rate?
Interest rates will vary depending on your financial circumstances, lender fees, and other factors. Interest rates can also change daily. We recommend that you check with a CalHFA-approved loan officer to receive an accurate rate quote for this program.
CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. CalHFA purchases closed loans that meet CalHFA's requirements. The fees consumers pay could be different depending on the lender and the program. View the sample Truth in Lending disclosure here.
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(CalHFA FHA program)
HOMEBUYER EDUCATION
Because CalHFA firmly believes that homebuyer education is critical to your success and happiness as a homeowner, homebuyer education is required on all first-time homebuyer programs that CalHFA offers. We will accept homebuyer education counseling certificates online, in-person, or by phone from the following providers:
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