!
2014 Guide to SCHFA
SoCal Homebuyer Grant
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Depa...
SCHFA Under the Hood
★ SCHFA Grant - Fun Facts
★ SCHFA + CHDAP = Down Pmt & Closing Cost
★ CalHFA Underwriting Overlays w/...
SCHFA Homebuyer Grant
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Business Ove...
SCHFA Homebuyer Grant
SCHFA Grant Facts
California Homebuyer Grant
Educating and Empowering since 1988
www.BMCLB.com
Licen...
★ Must be Primary Residence
★ 640 Minimum Credit Score
★ Maximum DTI 45%* (unless w/ CHDAP)
★ Homebuyer Education Required...
SCHFA Homebuyer Grant
How SCHFA Works
California Homebuyer Grant
Educating and Empowering since 1988
www.BMCLB.com
License...
Using SCHFA & CHDAP Together
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Busin...
California Housing Finance Agency
CalHFA First Time Homebuyer Loans
Buyer Assistance Loans
CalPLUS ZIP - CalHFA FHA - ECTP...
★ Must use CalHFA Income Limits
★ Maximum 43% Debt to Income
★ 30 Minute Homebuyer Education Class
★ Non-Occupant Co-Signe...
★ Must Not Exceed CalHFA Income Limits
★ Maximum 43% Debt to Income
★ 8 Hours Homebuyer Education Class
★ Non-Occupant Co-...
CalHFA CHDAP
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Business Oversight un...
★ 3% of Purchase Price
★ Can be used with Non-CalHFA First Mtg
★ Silent Second, Deferred for Life of Loan
★ Income & Sales...
Review & Take Aways
Educating and Empowering since 1988
www.FindMyWayHome.com
Licensed by the Department of Business Overs...
★ Excludes the City of Los Angeles
★ 4% of the First Loan Amount
★ No Interest Rate, Not a Loan, Not Paid Back
★ SCHFA + C...
★ 3 Years Most Recent Tax Returns
★ 2 Yr Residence & Proof of Rent
★ 2 Yr Employment same field or Self Emp
★ Complete App...
!
Thank You for Watching!
Links to check eligibility and additional resources below
Educating and Empowering since 1988
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Broadview Mortgage Long Beach - Southern California SCHFA Homebuyer Grant

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The CHFA Homebuyer Grant is available to first time homebuyers in the County of Orange and Los Angeles, excluding the City of Los Angeles.

Assistance is available up to 4% of the first loan amount and can be used for down payment or closing cost assistance. CalHFA CHDAP may also be used with the SCHFA Homebuyer Grant to provide even more buyer assistance.

The SCHFA grant is not paid back, there is no interest rate, it is not a 2nd mortgage, it is not a loan - it is a grant.

Published in: Real Estate
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Broadview Mortgage Long Beach - Southern California SCHFA Homebuyer Grant

  1. 1. ! 2014 Guide to SCHFA SoCal Homebuyer Grant Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  2. 2. SCHFA Under the Hood ★ SCHFA Grant - Fun Facts ★ SCHFA + CHDAP = Down Pmt & Closing Cost ★ CalHFA Underwriting Overlays w/ CHDAP ★ SCHFA Awesomeness - Quick Review ★ Documentation Checklist to Confirm Eligibility Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender SoCal Homebuyer Grant Program Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  3. 3. SCHFA Homebuyer Grant Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  4. 4. SCHFA Homebuyer Grant SCHFA Grant Facts California Homebuyer Grant Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender ★ Equal to 4% of 1st Loan ★ First Time Buyer = No Primary 3 Yrs ★ Max First Mortgage = $417,000 ★ LA – 1-2 = $99,360 / 3+ = $111,515 ★ OC – 1-2 = $109,800 / 3+ = $128,100 Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  5. 5. ★ Must be Primary Residence ★ 640 Minimum Credit Score ★ Maximum DTI 45%* (unless w/ CHDAP) ★ Homebuyer Education Required ★ Meet all FHA, VA, USDA Guidelines SCHFA Homebuyer Grant California Homebuyer Grant Borrower Requirements Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  6. 6. SCHFA Homebuyer Grant How SCHFA Works California Homebuyer Grant Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender ★ Must use SCHFA First Mortgage for Grant ★ Use for Closing Cost Assistance Only ★ Lender Orders Grant at Closing ★ Use with CHDAP - CalHFA Limits Apply Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  7. 7. Using SCHFA & CHDAP Together Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  8. 8. California Housing Finance Agency CalHFA First Time Homebuyer Loans Buyer Assistance Loans CalPLUS ZIP - CalHFA FHA - ECTP - CHDAP Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  9. 9. ★ Must use CalHFA Income Limits ★ Maximum 43% Debt to Income ★ 30 Minute Homebuyer Education Class ★ Non-Occupant Co-Signers Allowed Borrower Overlays California Housing Finance Agency CalHFA First Time Homebuyer Loans Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  10. 10. ★ Must Not Exceed CalHFA Income Limits ★ Maximum 43% Debt to Income ★ 8 Hours Homebuyer Education Class ★ Non-Occupant Co-Signers Allowed Borrower Overlays California Housing Finance Agency CalHFA First Time Homebuyer Loans Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  11. 11. CalHFA CHDAP Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  12. 12. ★ 3% of Purchase Price ★ Can be used with Non-CalHFA First Mtg ★ Silent Second, Deferred for Life of Loan ★ Income & Sales Price Limits ★ Can be Used in Any Lien Position CalHFA CHDAP California Housing Finance Agency CalHFA First Time Homebuyer Loans Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  13. 13. Review & Take Aways Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  14. 14. ★ Excludes the City of Los Angeles ★ 4% of the First Loan Amount ★ No Interest Rate, Not a Loan, Not Paid Back ★ SCHFA + CHDAP = Down & Closing Costs ★ Approved Lender CalHFA & SCHFA Quick Review Orange & LA County California Homebuyer Assistance Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  15. 15. ★ 3 Years Most Recent Tax Returns ★ 2 Yr Residence & Proof of Rent ★ 2 Yr Employment same field or Self Emp ★ Complete Application & Credit Review ★ Creative Lender is Key - Other Options Wrap Up & Take Aways California Homebuyer Assistance Documentation Checklist Educating and Empowering since 1988 www.BMCLB.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com
  16. 16. ! Thank You for Watching! Links to check eligibility and additional resources below Educating and Empowering since 1988 www.FindMyWayHome.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 !© Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender Ask questions below, call (888) 808-8062 or email: ScottS@BroadviewMortgage.com

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