Here’s how to shop for property to possess nothing currency down, using CalPLUS Antique Financing, to your 4% Zip and you may step 3% MyHome guidelines applications:
Purchase price $300,one hundred thousand in addition to Projected Settlement costs $8,400 = Complete Requisite: $308,eight hundred CalPLUS Traditional Loan amount (95% away from purchase price): $285,100 Zip (4% regarding first mortgage amount): $eleven,eight hundred MyHome (3% out-of purchase price): $nine,000 $285,000 + $eleven,eight hundred + $9,100000 = $305,eight hundred. Simply $step three,100000 needed to personal!
Payment (dominant, 4.5% appeal, financial insurance coverage): $dos,050 Monthly payment does not include property taxation, homeowner’s insurance policies, neither HOA costs
Va Consumers CalHFA Virtual assistant Program
Brand new CalHFA Virtual assistant system is actually covered from the federal Experts Management, which is open to all the service people and pros exactly who fulfill the fresh new VA’s assistance. This option would be together with the MyHome or Professor and you can Personnel Advice System to greatly help away with settlement costs.
This new CalHFA Va program is actually a good Virtual assistant-secured loan offering a beneficial CalHFA repaired interest rate first mortgage. The consumers need certainly to inhabit the house as their no. 1 household within 60 days regarding mortgage closure. Product sales speed maximum is actually $660,000 for all regarding California. See the CalHFA web site to have most recent pricing and you can costs.
Professor and Staff member Assistance System
The Teacher and you can Personnel Direction System is for qualified coaches, directors, categorized team, and staff in any California K-a dozen public school, along with personal constitution colleges, college region organizations, and you may county/extension schools.