CHF_Logo_100x570.5% Down Payment – CHF Access Program


What is the CHF Access Program and how does it work?
Owning a home, in California, may be easier than you thought possible with the CHF ACCESS Down Payment Assistance Program (CRHMFA Homebuyers Fund). The Program is designed to assist low-to-moderate income homebuyers with the purchase of a home, by providing a means to finance most of the associated down payment.


The Program combines a 30-year fixed interest rate FHA First Mortgage Loan with down payment and/or closing cost assistance from CHF in the form of a low fixed interest rate Second Mortgage, making combined financing up to 99.5% of the purchase price possible. It is available for purchases of both new and existing homes, as long as the home will be the primary residence of the homebuyer, and does not require that the homebuyer be a first-time homebuyer. Those who may have owned a home in the past are still eligible to apply for CHF ACCESS. This program is only available in California AND allows down to a 580 credit score.


This is mainly for single family homes and FHA approved condos. We must check first to see if the condo development you are interested in qualifies for FHA financing, if you are trying to use this program.


Here are the Details:


First Loan: FHA 30 Year Fixed to 96.5% LTV
2nd Loan: Fixed 2nd at 8.25% for 15 Years for 3% LTV
Total: A combined 99.5% CLTV = 0.5% Down Payment
The 0.5% Down Payment can also come from a family member, so you could actually get in to a house with NO DOWN PAYMENT!