Housing Down Payment Programs

Community Stabilization Home Loan Program by Sacramento Home Loan Lender

California Housing Down Payment Programs, or CHDAP for short, give a much needed break for first time home buyers in California.  The goal for this program is to provide low or no cost down payment and closing cost funding for the purchase of homes in California.

Some of the basic qualifications for this program are:

  • Borrowers household income cannot exceed median income for area.
  • Maximum sales prices are limited by FHA Loan limits.
  • Program is for California properties only.
  • Borrower cannot have owed a home in the last three years.
  • Must be able to qualify for a FHA loan.

The benefits of using a CHDAP program vs. most other down payment assistance programs is that it does not require the participation of the seller. This allows you more homes to select from. By combining the CHDAP loan and sellers assistance of up to 6%, a homebuyer can use this program to purchase a home with no money down and no closing costs. In most cases, the down payment assistance programs offered through CalHFA must be combined with a CalHFA first mortgage and the borrower must meet the FHA loan guidelines.

Experienced Home Loan Brokers

In this competitive market it is critical you work with a realtor who is familiar with these types of loans so they can structure the most competitive offer possible. Sunrise Vista Mortgage has loan officers that are highly trained and experienced with these programs.

Please take a moment to fill out the extended contact form at the bottom of this page.  If you know any family, friends or co-workers that may benefit from the use of this down payment assistance program, please recommend this page to them.

Speak to a Mortgage Broker in Sacramento, CA About Your Loan Today

The Sunrise Vista Mortgage Team is dedicated in providing top-notch financial services with the lowest rates possible. We have created lasting relationships with each and every client and are here to serve you. Give us a call at (916) 729-2000 to speak to a Sacramento mortgage broker regarding your loan needs.