We are a Difficult CalHFA Loan Funding Specialist
Loan basic requirements:
- The borrower needs to occupy the property as a primary residence, non-occupant co-borrowers are not allowed.
- The borrower must complete homebuyer education counseling and get a certificate of course
- Meet CalHFA income limits for this program.
Purchase, Refinance, Cash Out
*LTV, Rate, Terms, Fees are depended on the property type, loan amount, location, occupancy, credit score etc.
About CalHFA Loan
California Housing Finance Agency (CalHFA) is a loan for people who have low income in California and it is possible for them to afford a mortgage. We structure the Loan in such a way so the borrower will get pre-approval easily. We have several loan programs that help our Client to get the loan. We can help you better in funding a loan as we are a difficult CalHFA Loans funding specialist. We never leave anything to chance and we will also fulfill all the requirements for loans.
The process to take homebuyer education and counseling course?
- Face to face – You can take face to face homebuyer education and counseling through HUD-approved housing counseling agency.
- Online- CalHFA only accepted one online course named eHome’s eight-hour homebuyer education and Counseling course.
We are a difficult CalHFA Loans funding specialist
List of documents required:
- Employment history
- 1 month Pay stubs
- 2 months Bank statements
- Last 2 years tax returns
- The sales price of the home cannot exceed CalHFA’s sales price limit
- Property type allowed single-family, one-unit residence, including approved condominium/PUDs
- Condominiums must meet the guidelines of the first mortgage
- The maximum on the size of the property allowed 5 acres.
We are a difficult CalHFA Loans funding specialist
- Commercial Properties
- Strip Malls
- Gas Stations
- Office Buildings
- Shopping Center
- Residential properties 1-4 unit
- Child Daycare Centers
- Vacant Land or Raw Land
- Manufactured Homes
All Loan Programs:
- Commercial Loans
- Private Hard Money Loans
- Stated income loans
- 1 Month Bank Statement Loans
- Profit & Loss Loan Program
- ITIN Loans
- Stand-alone second Loans
- 1099 Income Program
- CalFHA Loans
- Full Doc Loan
- VOE only Loan
- FHA Loans
- Conventional Loans
- High Balance Loans
Other Home Loans We Specialize In:
- Commercial Loans is available starting at a minimum loan size of $150,000 to $5M. We do commercial loans and their rates start from 6.25% and with 5, 7, 30 Years options. Commercial Loans include the properties like Strip Mall, Condotel, Multi-Tenant Retail / Office, Hospitality, Storage Facility Stores, Light Industrial, School, or Daycare. Single-Tenant Retail.
- ITIN loans are for those people who want to finance a home purchase but do not have the SSN number. Basic requirements to qualify for an ITIN loan are 2 years of employment, last 2 years of your tax returns (W-2 or 1099), down payment of at least 10-20% depending on the lender, proof of some form of credit, identification in the form of a copy of your ITIN card, and a state ID, drivers license, or passport, Your most recent bank statements. Property types eligible for ITIN loans are single family homes, condos, and PUDS. ITIN loans can only be used for a home that is owner occupied (primary residence). FHA does not offer any ITIN programs.
- California Housing Finance Agency (CalHFA) is a loan for people who have low income in california and it is possible for them to afford a mortgage. The CalHFA loan has some requirements like the borrower have to occupy the property as a primary residence and borrower must complete homebuyer education counseling and get a certificate of course to take a CalHFA Loan. The sales price of the home should be in the limit of CalHFA sales price limit. The basic documents needed for CalHFA loan are pay stubs, bank statements, employment history, previous tax returns. We are a difficult CalHFA Loans funding specialist.
- Stated income loans differ from full documentation loans, which require the borrower to verify his income by providing bank statements or similar asset documentations. Borrowers have to prove their income with their alternate documents. You can’t just state your income, you have to show them something which is common like your bank statement instead of paystubs, W-2s and tax returns. From your bank statement, you can prove the income deposits by your company regularly. So, the lender will check your bank statement to confirm your income.
- Condotel Loans–Condotel units are different from normal condos. Real estate developers initially build them in resort and hotel companies such as Starwood, Marriott, Hilton, etc. Owning Condotel property enables one to earn a good passive income while also giving them access to basic hotel amenities such as 24-hour room service, baby-sitting services, spas, fitness centers, fine dining restaurants, valet parking and many more.
- Stand-alone second loans are additional loans that a borrower takes out against his house despite already having a first mortgage. The borrower takes out the loan by itself even though his first pre-existing loan has not been closed yet. He usually takes this loan out to access cash. In essence, he can use the money from the loan to consolidate a debt, pay for a child’s education, or even build an additional home, among other things. A borrower can take out the loan based on the available equity of his home.
- FHA home loans make it easier for a borrower to qualify for a loan and make a small down payment. This loan is beneficial for a borrower, especially a first time home buyer, to qualify for a mortgage. Borrower is required to purchase a mortgage insurance premium in case the borrower defaults. The mortgage insurance premium serves as a financial backup to protect the lender. Provide full documents
- Conforming loans, the largest segment of loans in the country. Full documents required. Conforming loans, considered lower risk loans, make up the largest segment of loans in the country. In the U.S., lenders package mortgage loans into investment bundles to sell and lend to both Fannie Mae and Freddie Mac. These two companies, which drive the housing market, provide a secondary market for mortgages.
- Conventional loans are safe loans that differ from other government regulated loans. Conventional loans, synonymous to conforming loans, adhere to the same process as conforming loans. For instance, they must follow guidelines and significant loan limits set by Fannie Mae and Freddie Mac. Yet, they differ from other government regulated loans in that they are not regulated by government agencies such as the FHA, USDA, or VA. Nonetheless, this does not stop them from being less desirable or attractive. After all, they make up 65% of the American housing market. The nature of conventional loans (also known as to safe loans) offer borrowers low rates and flexible guidelines.
- High balance loans are loans that exceed conforming loan limits for borrowers living in expensive regions of the country. High-balance loans exceed the national conforming loan limits for borrowers living in expensive regions of the country. In the U.S., lenders package mortgage loans into investment bundles to sell and lend to both Fannie Mae and Freddie Mac. These two companies, which drive the housing market, provide a secondary market for mortgages. Consequently, Fannie and Freddie have enforced a maximum loan size for all backed loans. Because the US housing market expanded in the last few decades, the loan size limits increased. In effect, Fannie and Freddie created high balance loans, which were vital to markets in Orange County and New York City.
- Jumbo home loans make it possible for the borrower to buy an expensive home because they allow the borrower to get large loan balances. Compared to high-balance loans, jumbo mortgage loan amounts are higher. They have more demanding requirements than the smaller, conforming mortgages because they are larger than the usual “conforming” loan limits.