California Homebuyer's Downpayment Assistance Program (CHDAP)No reservations accepted after 9/24/15 But call for better Grant programs with no pay backThe 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 | INTEREST RATE | HOMEBUYER EDUCATION | HOW TO APPLY (CHDAP program) Program EligibilityAm I eligible to apply for this program? Borrower Requirements
*In the case of conflicting guidelines, the lender must follow the more restrictive. Property Requirements
*In the case of conflicting guidelines, the lender must follow the more restrictive. Additional Property Guidelines
back to top (CHDAP program) Interest RateWhat is the interest rate? 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. back to top (CHDAP program) Homebuyer Education RequirementCalHFA firmly believes that homebuyer education is critical to the success and happiness of a homeowner, and requires homebuyer education for all its homebuyer programs. CalHFA will accept hard or online copies of homebuyer education counseling certificates. Who has to take this Homebuyer Education course? Only one occupying borrower on each loan transaction. How do I take this education course?
(CHDAP program) How To ApplyHow do I apply for this loan program? What documents should I have ready when contacting a loan officer?
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