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.


Anonymous said...

Do you know if DPA was one of the programs that was suspended or not?

Anonymous said...

Looking at the link in the article it did look like the DPA were suspended