Saturday, December 20, 2008
CalHFA suspends some programs
The California Housing Finance Agency has stopped making some loans due to budget issues facing California. One of the ways 100% financing was still available was through programs available through CalHFA. Down Payment Assistance programs were a way of bridging the gap of the final 3.5% required of a FHA loan (seller funded versions of DPA's were banned earlier this year). Mortgage credit continues to contract and remove the marginal buyers from the marketplace.
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2 comments:
Do you know if DPA was one of the programs that was suspended or not?
Looking at the link in the article it did look like the DPA were suspended
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