Civic Center Home Loans and Realty, Inc.

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Civic Center Home Loans

HOME PURCHASE SPECIALISTS

No Down Payment Required

Low-Interest Rate Loans

Maximize Your Purchase Power

Access to Local Government Programs

CalHFA Financing Experts

Civic Center Home Loans specializes in the home loan programs offered by the California Housing Finance Agency (CalHFA). CalHFA is a state government agency that help home buyers in the following ways: Low interest rate first mortgages, usually lower than rates offered by banks and private mortgage companies. All CalHFA loans are fixed rate loans, so you don't have to worrry about interest rates going up in the future and facing bigger monthly payments. In most cases you will not need a down payment, or no more than one percent of the home purchase price. CalHFA offers its own down payment and closing cost assistance that can be combined with their first-mortgages: Hi-CAP Loan (Hi-Cost Area Program) is available in Los Angeles County and the San Francisco Bay Area. This is a "silent" loan (no monthly) payments equal to 4% of the home purchase price. No payment are due for 30 years. The loan accrues 6.750% simple interest charges CHDAP Loan (California Home Buyer Down Payment Assistance) is available to statewide. It is also a silent loan and is equal to 3% of the home purchase price. This loan accrues 3.00% simple interest. ECTP Loan (Extra Credit Teacher Program) is a silent loan equal to 3% of the home purchase price and is available to public school teacher who work in a qualifying school. CalHFA loans can also be combined with local government (city and county) programs. These programs provide silent, down payment assitance loans. It is easy to qualify for a CalHFA loan. Here are the main requirements: You must be a first-time home buyer, which means you can not have owned your principal residence for the last three years. It must be possible to document your income with pay stubs, tax returns, W2 forms and bank statements. Your middle FICO Credit Score must be at leat 620. Your income must be within the income limits for the County where you will purchase the home.

CalHFA 30 Year Loan

CalHFA 30 Year Loan This is a 30-year, fixed rate loan. Two interest rates are available depending on your income. Lower income borrowers qualify for a lower interst rate. You can finance 95% of the home purchase price with this loan. The balance of the purchase price can come from CalHFA's Hi-CAP, CHDAP, or ECTP down payment assistance programs. You can also combine down payment assistance programs from cities and counties. Term: 30 years Maximum Amount: $417,000

Civic Center Home Loans & Realty has access to special programs sponsored by government agencies to help low- and moderate-income buyers.
Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia, and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $333,700 with closing costs of $6,674. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia, and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $1,000,000 with closing costs of $20,000. Your actual APR may be different depending upon these factors.