San Jose, CA First Time Home Buyers-Get Help from CalHFA to buy with 1% Down Payment


CalHFA 1st mortgage + CHDAP 2nd mortgage = 99% LTV or 1% downpayment loan for San Jose, CA  First Time Home Buyers.

Here's the Full Details:

CalHFA (California Housing Finance agency) FHA loan lend money up to 96.5%. California Homebuyer's down payment assistance program (CHDAP) provides a deferred payment junior loan (2nd mortgage) up to 3% of the purchase price; 2.5% of which can be utilized for  downpayment and the rest .5% can be used towards closing cost. See below:

How to qualify for CalHFA FHA loan and the Downpayment Assistance Program:

  • The individual who requires the assistance should be a Firt Time Home Buyer. A First Time Home Buyer is someone who has not possesed or occupied a house in last 3 years.
  • A minimum deposit of 1% is needed from your own funds - can be a gift from someone close to you.
  • You need to meet moderate income limits established for the county in which you are purchasing.
  • You need to meet Sales Price Limits for the county in which the property is located.

CalHFA Loan Interest Rates:

Currently, the interest rate on CalHFA FHA loan first mortgage is 4.25% and if you combine that with CHDAP as the 2nd mortgage the interest rate goes down to 4.125%. This is significantly lower than the prevailing rates for both FHA and Conventional mortgages for San Jose, CA  properties.

If you wish to own your  First Time Home  in San Jose, San Francisco Bay Area or rest of California contact me so that we can help you qualify for this program.



Shashank Shekhar

Mortgage Broker/Banker | San Jose, CA

(408) 615-0655 |

Ranked among Top 150 Loan Officers and Top 40 under 40 Most Influential Mortgage Professionals in the Country

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Comment balloon 4 commentsShashank Shekhar • February 18 2011 12:37PM


Dear Sir, or Madam

My name is Henry Doan..

I am interesting in first time home buyer help from CalHFA..

please help to get the information, thank you very much...


408 561-5592

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Posted by Camrydz over 6 years ago

I  Patricia brisby is moving to San Jose, Ca , I am looking to but ahome even if it foreclosure for 80,000 and lower

because I DO NOT want to rent an apartment to expensive. The ballpoint for a loan qould be not over 95,000 please.

I can handle 110,000 for a home. i noticed that you have some home for foreclosure for good prices, some even under

10,000 this is a good thing for myself..

Patricia brisby

42 Riley manor

junstion city,ks 66441

moving in August 2013

to San Jose, Ca area.

i have been working for the government over ten years.

Transunion 677

Equaifax 658

Experian 636

Today credit score for myself.

need a approval letter to get a home when  I get to san jose ,Ca in August;

tranfering my job to the next duty station. I am not in the military. Civilivan personel. But i work for the federal government.



Posted by patricia brisby over 6 years ago