California Housing Finance Agency (CalHFA) Forgivable Equity Builder Loan

OUT OF FUNDS

Must be less than or equal to 80% AMI using the Fannie Mae Lookup Tool: https://ami-lookup-tool.fanniemae.com/amilookuptool/

Maximum Amount

10% of Purchase Price

Benefits

Forgivable loan at 10% of the sales price or appraised value, whichever is less. Amount forgiven over time at a pro-rated amount. Full amount is forgiven after 5 years. Term of loan will be the same as the 1st mortgage loan

Participating Lenders

CalHFA Approved Lender: https://www.calhfa.ca.gov/apps/approvedlenders/
CalHFA Approved Wholesale Lender:
https://www.calhfa.ca.gov/homeownership/brokers.htm

Approved Education Providers

Homebuyer education and counseling is required for one occupying first-time homebuyer.
Certificates are good for one-year. Homebuyer education and counseling is not required for non-first-time homebuyer(s).
In-Person or Virtual Homebuyer Education through NeighborWorks America or through one of the HUD approved Housing Counseling Agencies
https://www.calhfa.ca.gov/homebuyer/borrower.htm#education

Program Provider Contact

Single Family Lending
p: 916.326.8033
sflending@calhfa.ca.gov

Customer Service / Loan Production /Lender Training
p: 916.326.8033
lendertraining@calhfa.ca.gov

Secondary Marketing
p: 916.326.8824
ratelocks@calhfa.ca.gov

Mortgage Access System (MAS)
massupport@calhfa.ca.gov