This is an exciting first time home buyer benefit being offered by the California Association of Realtors through the Housing Affordability Fund. The Mortgage Protection Program offers insurance payments in the event that a new homebuyer become involuntarily unemployed or accidentally disabled. For more valuable homebuyer education classes be sure to sign up at www.REblueBird.org to receive notifications of upcoming classes.

1. Where homeownership education takes flight!
Offered by the California Association of Realtors - Housing Affordability Fund
Mortgage Protection
Program
First Time Homebuyer Benefit for Californians
A Complete Guide to the
Broadview Mortgage Corporation
1-866-667-6724

2. Where homeownership education takes flight!
Frequently Asked Questions
• What is the Mortgage Protection Program?
• Who qualifies for this program?
• What is meant by Involuntary Unemployment?
• What are the waiting periods?
• Other answers to frequently asked questions
– How much does it cost?
– How do home buyers apply?
– How long will this program last?
– Can I upgrade my benefits or renew the coverage after one
year?

3. Where homeownership education takes flight!
What is the Mortgage Protection Program?
• Combination Involuntary unemployment, accidental
disability and accidental death protection for first time
home buyers
• California Association of REALTORS® program
– Housing Affordability Fund
– $1,000,000 committed to program
• Qualified first-time home buyer benefits
– Up to $1,500 per month for up to six months if involuntarily
unemployed or accidental disability
– Co-borrower $750 per month for up to six months if
involuntarily unemployed or accidental disability
– One-time $10,000 accidental death benefit

4. Where homeownership education takes flight!
Who Qualifies for Mortgage Protection?
• Must be a first time home buyer who hasn’t owned a
home in the last three years
• Open and close escrow between 4/2/2009 and
12/31/2009
• Purchase a primary residence in California
• Be represented by a California REALTOR®
• Be a W-2 employee (not self employed) but can not
be a sole proprietor, partner or controlling
stockholder in the business in which you are
employed, or a dependent of a sole proprietor,
partner or a controlling stockholder in the business in
which you are employed
• No income or home price caps under this program

5. Where homeownership education takes flight!
What is Involuntary Unemployment?
• Under this plan, Involuntary Unemployment is
defined as totally and continuously losing full-time
employment as a result of:
• A permanent involuntary termination of employment; or
• An involuntary layoff or suspension of employment; or
• An authorized, unionized strike or labor dispute by a
chartered or previously organized trade or labor union; or
• A lockout, discharge of employees or temporary closing of
business in response to organized employee activity; or
• A state or federally declared disaster caused by a
geological or weather-related natural event
• Involuntary Unemployment does NOT include
• quitting, resigning, retiring expiration of an employment
contract, being fired for cause, or being on leave due to
accident, sickness, disability , family obligations, childbirth,
pregnancy, or due to scheduled seasonal or temporary
breaks

6. Where homeownership education takes flight!
What are the Vesting and Waiting Periods?
• The insurance policy requires a “vesting” period of
six (6) month before becoming eligible for benefits
• There is also a four (4) month “actively at work”
requirement
• These two waiting/vesting periods can run
concurrently
• There is no initial vesting period for Accidental
Disability benefit however, four (4) month “Actively at
Work” requirement still applies

7. Where homeownership education takes flight!
Other Frequently Asked Questions
• How much does this insurance policy cost?
– Nothing, there is no cost to the homebuyer for the 1st
year
• How do home buyers apply?
– Must apply through a California REALTOR®. The
REALTOR® will submit the completed application to the
CARHAF on the home buyer’s behalf.
• How long will this program last?
– Applications will be reviewed and insurance policies will be
awarded on a first come, first serve basis until the program
funds are depleted or until CARHAF discontinues the
program, whichever occurs first.
• Can I upgrade my benefits or renew the coverage
after one year?
– Prior to the end of the first year, you may be given the
voluntary option to renew at a “contributory” rate, which
may include the same benefit package or an enhanced
package.

8. Where homeownership education takes flight!
Mortgage Protection Plan Take-Aways
• Make sure the Agent you hire to represent you in
your home purchase is a member of the California
Association of REALTORS®
– Attend “Hiring a Real Estate Agent” web-class for help with
finding, interviewing and hiring experienced agents
• Must be a first time home buyer
– Cannot have owned in past 3 years
• No income or purchase price limits
• Must close escrow on or before 12/31/2009

9. Where homeownership education takes flight!
www.REblueBird.org
Receive notification of upcoming
First-Time Homebuyer Education Web Classes
Homebuyer classes sponsored by
Broadview Mortgage Corporation
1-866-667-6724
Some topics covered in no cost web classes:
What you must know about Hiring a Real Estate Agent and finding the best deals
How to find down payment assistance programs
Special loans for employees of public schools and community colleges
100% financing options for California public employees – CalPERS
A Complete Guide to Credit, qualifying and completing a loan application
Five 100% financing programs in California
A Complete Guide to Closing Costs and the Good Faith Estimate
A Complete Guide to buying Foreclosures and Short Sales

10. Where homeownership education takes flight!
www.REblueBird.org
Receive notification of upcoming
First-Time Homebuyer Education Web Classes
Homebuyer classes sponsored by
Broadview Mortgage Corporation
1-866-667-6724
Some topics covered in no cost web classes:
What you must know about Hiring a Real Estate Agent and finding the best deals
How to find down payment assistance programs
Special loans for employees of public schools and community colleges
100% financing options for California public employees – CalPERS
A Complete Guide to Credit, qualifying and completing a loan application
Five 100% financing programs in California
A Complete Guide to Closing Costs and the Good Faith Estimate
A Complete Guide to buying Foreclosures and Short Sales