b) A legal citizen of the United State, a permanent resident or a qualified alien.
The California Homebuyer's Downpayment Assistance Program is a deferred payment junior loan that can be used in conjunction with other CalHFA housing programs. |
c) Satisfy the credit, loan, and income requirements that are set by CalHFA and the mortgage insurer
d) Able and willing to live in the AHPP-financed home until the end of the loan or until the house is refinanced or sold.
e) Willing to participate in a home buyer counseling program and must a have a certificate to verify it.
f) If the borrower is not a first time home buyer, he should be a veteran or a someone who is trying to acquire a home at a federally designated targeted area.
In terms of the property eligibility requirements, the borrower must choose a home that is:
1) Located in the State of California
2) Capable of becoming the borrower's primary residence
3) Priced within the limits set by CalHFA
4) Not larger than 5 acres
5) Categorized as a single family residence
6) A condominium or a unit in a planned unit development
In addition, borrowers under the CHDAP is also required to shell out a minimum contribution that is equal to 1% (or $1,000) of the total value of the property.
If you intend to read more about the California Homebuyer's Downpayment Assistance Program, you can visit http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm.
California Homebuyer's Downpayment Assistance Program for First Time Home Buyers
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About The Author The TopGovernmentGrants Editorial Staff maintains one the most comprehensive Websites offering information on government grants and federal government programs. The staff also provides resources to other Websites with information on environmental grants and grants for youth programs. |
She also maintains Websites providing resources on environmental grants and grants for youth programs.
Ganesh Natarajan is the Founder and Chairman of 5FWorld, a new platform for funding and developing start-ups, social enterprises and the skills eco-system in India. In the past two decades, he has built two of India’s high-growth software services companies – Aptech and Zensar – almost from scratch to global success.