Home Buyer Programs:

" Regular Conventional 3% down
o One borrower must be a first-time home buyer
o Must have above 620 FICO Scores
o Rate based off 780 scores on Today's Pricing: 4.75% ( no APR calculated - for Realtor use only)
o No Income Restriction
o $1,395 Origination Fee, 3% Down Payment as well as Closing Costs (Title Fees and Prepaid Items)

" Regular VA 0% Down
o Must be a Veteran
o Max Financing, 0% down available
o Can go down to 500 FICO Scores or No Scores (this does require Manual Underwriting of the Borrowers)
o No Income Restriction
o $1,395 Origination Fee as well as Closing Costs (Title Fees and Prepaid Items)

" ALL CalHFA Programs require a HomeBuyer Education Course to be Completed
o Contra Costa Income Limit May Not Exceed: $192,800 for all borrowers on the loan

" CalHFA Conventional 3% Down with No Down Payment Assistance
o All borrowers must occupy property, available for first-time and non-first time homebuyers
o Must have above 640 FICO Scores
o Current rate is 4.75%
o Charges 2% of the Loan Amount (plus Title Fees and Prepaid Items)

" CalHFA Conventional 3% Down with MyHome Down Payment Assistance
o All borrowers must be first-time home buyers and occupy property
o Must have above 640 FICO Scores
o Current rate is 4.875%
o You receive a 3.5% Silent Second based on the Purchase price to help cover Down Payment and Closing Costs
" Example: $460k Purchase price x 3.5% = $16,100 towards down payment and closing costs.
o Silent second has a rate of 3.25%, but does NOT need to be paid back until one of these occur:
" Sale of Home
" Transfer of Title
" Refinance
" Payoff of First Loan
" Formal Filing and Recording of a Notice of Default
o Charges 2% of the Loan Amount and a fee of roughly $400 for the 2nd (plus Title Fees and Prepaid Items)

" CalHFA Conventional 3% Down with MyHome and either a 2 - 3% Zip Down Payment Assistance
o All borrowers must be first-time home buyers and occupy property
o Must have above 640 FICO scores
o Current rate for the 2% Zip is: 5.5%
o Current rate for the 3% Zip is: 6%
o You receive the Silent Second MyHome with the 3.5% of the Purchase price to help cover down payment and closing costs and
o You receive either a 2 or 3% Zip Third Loan with no interest rate to also cover the down payment and closing costs
o 2nd and 3rd Loan do NOT need to be paid back until one of these occur:
" Sale of Home
" Transfer of Title
" Refinance
" Payoff of First Loan
" Formal Filing and Recording of a Notice of Default
o Charges 2% of the Loan Amount and a fee of roughly $400 for the 2nd (plus Title Fees and Prepaid Items)

" CalHFA VA with a MyHome Down Payment Assistance
o Available for first-time and non-first time hombuyers, all borrowers must occupy property
o Max financing, 0% down up to a Price of $484,350
o Must have above 640 FICO Scores
o You receive a 3.5% Silent Second based on the Purchase price to help cover Down Payment and Closing Costs
o Silent second has a rate of 3.25%, but does NOT need to be paid back until one of these occur:
" Sale of Home
" Transfer of Title
" Refinance
" Payoff of First Loan
" Formal Filing and Recording of a Notice of Default
o Charges 2% of the Loan Amount and a fee of roughly $400 for the 2nd (plus Title Fees and Prepaid Items)