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California FHA Loans

FHA Loan Information for California                                               















FHA News

FHA loans benefit homebuyers by providing low down payment options and credit criteria more flexible than conventional loans. (FHA loans)


FHA Streamline Refinance

FHA streamline refinance loans make it easier for homeowners with current high rate FHA loans to refinance their mortgage.  Streamline refinance loans do not require appraisals (streamline refinance Loans)


Down Payment Assistance

CHDAP- California Homebuyer's Down payment Assistance Program Offers a deferred-payment subordinate loan in the amount of (3%) of the purchase price or appraised value, which ever is less to be used for down payment and/or closing costs

(down payment assistance)





California FHA Loans


FHA does not provide loans; rather FHA loans are government insured loans made available to assist homeowners and home buyers in obtaining financing.  FHA loans have more flexible credit guidelines compared to conventional home financing.  In fact, FHA loans may allow homeowners to purchase a home with little or no money down.  Standard FHA guidelines will allow for a 3.5% down payment and a 96.5% loan to value as opposed to conventional financing requiring 5-20% down payment.


Minimum credit scores to qualify for an FHA loan are typically 620; but some lenders with manual underwriting will allow for credit scores 580 and in some extenuating circumstances below 580.


If qualified, borrowers in California may have a 3% silent second loan to further reduce the required down payment to a minimal .5% (one half percent).  Home buyers are encouraged to educate themselves on the CalHFA program and CHDAP dowm payment assistance program.