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Educating and Empowering since 1988

!

2014 Guide to California
Teacher Assistance Programs

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
2014 California Teacher Loans
Buyer Assistance Programs
★ CalSTRS Home Loan Program Update
★ BCA Community Access + CHDAP
★ Extra Credit Teacher Program
★ CalHFA FHA, CalPLUS w/ ZIP, CHDAP
★ 3 CHF Platinum Grants -

Updated 2/2014

★ SCHFA OC & LA Homebuyer Grant
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
2014 California Teacher Loans
CalSTRS Home Loan Update

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

Broadview Community Access

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
Discount Mortgage Insurance
Broadview Community Access
BCA Program Highlights
★
★
★
★
★
★
★

FHA Alternative
5% Down Payment
Can use w CHDAP
Reduced PMI Rate
Reduced Closing Costs
Refinance Ok
30 Year Fixed Only

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Discount Mortgage Insurance
Broadview Community Access
Homebuyer Qualifying
★ Must be Primary Home
★ Not First Time Buyer Loan
★ Duplexes Allowed
★ 620 to 85.01 - 90% LTV
★ 660 to 90.01 - 95% LTV
★ 680 to 95.01 - 97% LTV
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Discount Mortgage Insurance
Community Access
2014 Loan and Income Limits
★ $417,000 Maximum Loan Amount
★ 140% Area Median Income
★ LA & Orange County $93,520
★ Riverside / San Bernardino $87,640
★ San Diego $102,260
★ Contact us for More Limits
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

California Housing Finance Agency

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
Buyer Assistance Loans

CalPLUS ZIP - CalHFA FHA - ECTP - CHDAP
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
First Time Homebuyer Requirement
★ No Principle Residence for 3 Years
★ Can Own Other Properties (Tax Returns)
★ Qualified Veterans Exempt
★ Federally Designated Target Area Exempt
★ Boomerang Buyers OK after 3 Years
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
Borrower Requirements
★ Must Be Owner Occupied within 60 Days
★ Must Not Exceed CalHFA Income Limits
★ Maximum 43% Debt to Income
★ Minimum 640 FICO
★ 8 Hours Homebuyer Education Class
★ Non-Occupant Co-Signers Allowed
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
Non-Occupant Co-Signer Rules
★ Must NOT Occupy the Property
★ Must Not be on Title or Have Interest in Home
★ Will have Income, Assets, Liabilities & Credit
History Considered by Underwriters
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
Property Requirements
★ Sales Price Limits by County
★ Single Family, One-Unit Residence Only
★ Condominiums Must Be FHA Approved
★ Lot Size Cannot Exceed 5 Acres
★ Must Carry 2 Year Home Warranty
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

Extra Credit Teacher Program

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
California Housing Finance Agency

CalHFA Extra Credit Teacher Program

Silent Second Mortgage
“The Extra Credit Teacher Home Purchase
Program (ECTP) is a deferred payment,
simple interest rate subordinate loan.”
!

- CalHFA

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Housing Finance Agency

CalHFA Extra Credit Teacher Program

Borrower Eligibility Requirements
Teachers, Administrators, classified employees
and staff members working in either a county/
continuation schools or high priority schools*
★ *Academic Performance Index (API) 1-5

★ “If it’s ranked (API 1-5) it’s eligible”
★ Emergency Teaching Credential ineligible
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Housing Finance Agency

CalHFA Extra Credit Teacher Program

Calculating Buyer Assistance
★ Fixed Rate* - Deferred Payments
★ Greater of $7,500 or 3% Sales Price
★ Greater of $15,000 or 3% - High Cost Area
★ 0% Interest after 3 Years*
★ Must Use CalHFA First Mortgage
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

CalHFA First Mortgage Programs

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
CalHFA First Mortgage Loans
★ CalHFA FHA & CalPLUS
★ Both are FHA Insured Mortgages
★ Same Income Limits all Programs
★ Sales Price Limits by County
★ Rates & Fees set by CalHFA
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
CalPLUS with ZIP
★ CalPLUS Interest Rate is Higher
★ Zero Interest Program (ZIP) CalPLUS Only
★ Silent Second, Deferred for Life of Loan
★ 3.5% of Total Loan Amount inc. UFMIP
★ Automatic Approval with CalPLUS
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

CalHFA CHDAP

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
California Housing Finance Agency

CalHFA First Time Homebuyer Loans
CalHFA CHDAP
★ 3% of Purchase Price
★ Can be used with Non-CalHFA First Mtg
★ Silent Second, Deferred for Life of Loan
★ Income & Sales Price Limits
★ Can be Used in Any Lien Position
★ Cannot be used with ECTP
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

CHF Platinum Grant

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
CHF Platinum Grant
Program Highlights
Qualifying Overview
★ Must Use Program First Mortgage
★ 30 Year Fixed FHA, VA, USDA
★ Less of $417,000 or FHA Loan Limit
★ Duplexes Ok
★ Qualify for 1st is Grant Eligible
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Homebuyer Grant
CHF Platinum Grant
CHF Grant Facts
★ Equal to 3% or 5% of 1st Loan
★ Interest Rate Increases at 5% Grant
★ Can be Used for Closing or Down
★ No Cash Back Allowed
★ Lender Requests Grant at Closing
★ Can use with CHDAP - Income Limits
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Homebuyer Grant
CHF Platinum Grant
Borrower Requirements
★ Must be Primary Residence
★ Income Limit 115% AMI / County
★ 640 Minimum Credit Score
★ Maximum DTI 45%
★ Meet all FHA, VA, USDA Guidelines
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Homebuyer Grant
CHF Conventional Grant
Conventional Grant Facts
★ Equal to 4% of 1st Loan
★ Can be Used for Closing or Down
★ 140% Area Median Income Limit
★ Discount Mortgage Insurance
★ Can use with CHDAP
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

SCHFA Homebuyer Grant

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
California Homebuyer Grant
SCHFA Homebuyer Grant
SCHFA Grant Facts
★ Equal to 4% of 1st Loan
★ First Time Buyer = No Primary 3 Yrs
★ Max First Mortgage = $417,000
★ LA – 1-2 = $99,360 / 3+ = $111,515
★ OC – 1-2 = $109,800 / 3+ = $128,100
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Homebuyer Grant
SCHFA Homebuyer Grant
SCHFA Grant Facts
★ Use for Down Payment or Closing Costs
★ Lender Orders Grant at Closing
★ Use with CHDAP - CalHFA Limits Apply
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Homebuyer Grant
SCHFA Homebuyer Grant
Borrower Requirements
★ Must be Primary Residence
★ 640 Minimum Credit Score
★ Maximum DTI 45%
★ Meet all FHA, VA, USDA Guidelines
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

Mix & Match Assistance Programs

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
Mix & Match Assistance Programs
Stacking Options
Always Use Most Restrictive Rules
★ CalHFA FHA or CalPLUS + ZIP + ECTP
★ CalHFA FHA or CalPLUS + ZIP + CHDAP
★ CHF Platinum Grant + CHDAP
★ Broadview Community Access + CHDAP
★ Any FHA or Conventional Loan + CHDAP
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

Wrap Up & Take Aways

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com
California Homebuyer Assistance
Quick Review
Teachers and Home Buyers
★ Community Access + CHDAP = CalSTRS
★ CalHFA FHA or CalPLUS ZIP
★ CalPLUS + ZIP + ECTP = 3.5% LA + 3% SP
★ CHF & SCHFA Grants - Not Paid Back
★ Approved Lender CalHFA,CHF, SCHFA
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
California Homebuyer Assistance
Wrap Up & Take Aways
Community Programs
★ Community Programs are Back
★ Offered on Level Playing Field
★ More From CalHFA This Year
★ Creative Solutions are Available
★ Creative Lender is Key
Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

Educating and Empowering since 1988

www.BMCLB.com
Educating and Empowering since 1988

!

Thank You for Attending!
Links to check eligibility and additional resources below

Use Questions & Answers box for real time response, or call
(888) 808-8062 or email: ScottS@BroadviewMortgage.com
Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License
#4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry,
Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157

! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender
©

www.FindMyWayHome.com

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2014 Guide to California Teacher Loans - Video

  • 1. Educating and Empowering since 1988 ! 2014 Guide to California Teacher Assistance Programs Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 2. 2014 California Teacher Loans Buyer Assistance Programs ★ CalSTRS Home Loan Program Update ★ BCA Community Access + CHDAP ★ Extra Credit Teacher Program ★ CalHFA FHA, CalPLUS w/ ZIP, CHDAP ★ 3 CHF Platinum Grants - Updated 2/2014 ★ SCHFA OC & LA Homebuyer Grant Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 3. 2014 California Teacher Loans CalSTRS Home Loan Update Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 4. Educating and Empowering since 1988 Broadview Community Access Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 5. Discount Mortgage Insurance Broadview Community Access BCA Program Highlights ★ ★ ★ ★ ★ ★ ★ FHA Alternative 5% Down Payment Can use w CHDAP Reduced PMI Rate Reduced Closing Costs Refinance Ok 30 Year Fixed Only Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 6. Discount Mortgage Insurance Broadview Community Access Homebuyer Qualifying ★ Must be Primary Home ★ Not First Time Buyer Loan ★ Duplexes Allowed ★ 620 to 85.01 - 90% LTV ★ 660 to 90.01 - 95% LTV ★ 680 to 95.01 - 97% LTV Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 7. Discount Mortgage Insurance Community Access 2014 Loan and Income Limits ★ $417,000 Maximum Loan Amount ★ 140% Area Median Income ★ LA & Orange County $93,520 ★ Riverside / San Bernardino $87,640 ★ San Diego $102,260 ★ Contact us for More Limits Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 8. Educating and Empowering since 1988 California Housing Finance Agency Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 9. California Housing Finance Agency CalHFA First Time Homebuyer Loans Buyer Assistance Loans CalPLUS ZIP - CalHFA FHA - ECTP - CHDAP Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 10. California Housing Finance Agency CalHFA First Time Homebuyer Loans First Time Homebuyer Requirement ★ No Principle Residence for 3 Years ★ Can Own Other Properties (Tax Returns) ★ Qualified Veterans Exempt ★ Federally Designated Target Area Exempt ★ Boomerang Buyers OK after 3 Years Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 11. California Housing Finance Agency CalHFA First Time Homebuyer Loans Borrower Requirements ★ Must Be Owner Occupied within 60 Days ★ Must Not Exceed CalHFA Income Limits ★ Maximum 43% Debt to Income ★ Minimum 640 FICO ★ 8 Hours Homebuyer Education Class ★ Non-Occupant Co-Signers Allowed Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 12. California Housing Finance Agency CalHFA First Time Homebuyer Loans Non-Occupant Co-Signer Rules ★ Must NOT Occupy the Property ★ Must Not be on Title or Have Interest in Home ★ Will have Income, Assets, Liabilities & Credit History Considered by Underwriters Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 13. California Housing Finance Agency CalHFA First Time Homebuyer Loans Property Requirements ★ Sales Price Limits by County ★ Single Family, One-Unit Residence Only ★ Condominiums Must Be FHA Approved ★ Lot Size Cannot Exceed 5 Acres ★ Must Carry 2 Year Home Warranty Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 14. Educating and Empowering since 1988 Extra Credit Teacher Program Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 15. California Housing Finance Agency CalHFA Extra Credit Teacher Program Silent Second Mortgage “The Extra Credit Teacher Home Purchase Program (ECTP) is a deferred payment, simple interest rate subordinate loan.” ! - CalHFA Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 16. California Housing Finance Agency CalHFA Extra Credit Teacher Program Borrower Eligibility Requirements Teachers, Administrators, classified employees and staff members working in either a county/ continuation schools or high priority schools* ★ *Academic Performance Index (API) 1-5 ★ “If it’s ranked (API 1-5) it’s eligible” ★ Emergency Teaching Credential ineligible Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 17. California Housing Finance Agency CalHFA Extra Credit Teacher Program Calculating Buyer Assistance ★ Fixed Rate* - Deferred Payments ★ Greater of $7,500 or 3% Sales Price ★ Greater of $15,000 or 3% - High Cost Area ★ 0% Interest after 3 Years* ★ Must Use CalHFA First Mortgage Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 18. Educating and Empowering since 1988 CalHFA First Mortgage Programs Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 19. California Housing Finance Agency CalHFA First Time Homebuyer Loans CalHFA First Mortgage Loans ★ CalHFA FHA & CalPLUS ★ Both are FHA Insured Mortgages ★ Same Income Limits all Programs ★ Sales Price Limits by County ★ Rates & Fees set by CalHFA Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 20. California Housing Finance Agency CalHFA First Time Homebuyer Loans CalPLUS with ZIP ★ CalPLUS Interest Rate is Higher ★ Zero Interest Program (ZIP) CalPLUS Only ★ Silent Second, Deferred for Life of Loan ★ 3.5% of Total Loan Amount inc. UFMIP ★ Automatic Approval with CalPLUS Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 21. Educating and Empowering since 1988 CalHFA CHDAP Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 22. California Housing Finance Agency CalHFA First Time Homebuyer Loans CalHFA CHDAP ★ 3% of Purchase Price ★ Can be used with Non-CalHFA First Mtg ★ Silent Second, Deferred for Life of Loan ★ Income & Sales Price Limits ★ Can be Used in Any Lien Position ★ Cannot be used with ECTP Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 23. Educating and Empowering since 1988 CHF Platinum Grant Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 24. CHF Platinum Grant Program Highlights Qualifying Overview ★ Must Use Program First Mortgage ★ 30 Year Fixed FHA, VA, USDA ★ Less of $417,000 or FHA Loan Limit ★ Duplexes Ok ★ Qualify for 1st is Grant Eligible Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 25. California Homebuyer Grant CHF Platinum Grant CHF Grant Facts ★ Equal to 3% or 5% of 1st Loan ★ Interest Rate Increases at 5% Grant ★ Can be Used for Closing or Down ★ No Cash Back Allowed ★ Lender Requests Grant at Closing ★ Can use with CHDAP - Income Limits Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 26. California Homebuyer Grant CHF Platinum Grant Borrower Requirements ★ Must be Primary Residence ★ Income Limit 115% AMI / County ★ 640 Minimum Credit Score ★ Maximum DTI 45% ★ Meet all FHA, VA, USDA Guidelines Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 27. California Homebuyer Grant CHF Conventional Grant Conventional Grant Facts ★ Equal to 4% of 1st Loan ★ Can be Used for Closing or Down ★ 140% Area Median Income Limit ★ Discount Mortgage Insurance ★ Can use with CHDAP Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 28. Educating and Empowering since 1988 SCHFA Homebuyer Grant Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 29. California Homebuyer Grant SCHFA Homebuyer Grant SCHFA Grant Facts ★ Equal to 4% of 1st Loan ★ First Time Buyer = No Primary 3 Yrs ★ Max First Mortgage = $417,000 ★ LA – 1-2 = $99,360 / 3+ = $111,515 ★ OC – 1-2 = $109,800 / 3+ = $128,100 Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 30. California Homebuyer Grant SCHFA Homebuyer Grant SCHFA Grant Facts ★ Use for Down Payment or Closing Costs ★ Lender Orders Grant at Closing ★ Use with CHDAP - CalHFA Limits Apply Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 31. California Homebuyer Grant SCHFA Homebuyer Grant Borrower Requirements ★ Must be Primary Residence ★ 640 Minimum Credit Score ★ Maximum DTI 45% ★ Meet all FHA, VA, USDA Guidelines Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 32. Educating and Empowering since 1988 Mix & Match Assistance Programs Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 33. Mix & Match Assistance Programs Stacking Options Always Use Most Restrictive Rules ★ CalHFA FHA or CalPLUS + ZIP + ECTP ★ CalHFA FHA or CalPLUS + ZIP + CHDAP ★ CHF Platinum Grant + CHDAP ★ Broadview Community Access + CHDAP ★ Any FHA or Conventional Loan + CHDAP Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 34. Educating and Empowering since 1988 Wrap Up & Take Aways Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com
  • 35. California Homebuyer Assistance Quick Review Teachers and Home Buyers ★ Community Access + CHDAP = CalSTRS ★ CalHFA FHA or CalPLUS ZIP ★ CalPLUS + ZIP + ECTP = 3.5% LA + 3% SP ★ CHF & SCHFA Grants - Not Paid Back ★ Approved Lender CalHFA,CHF, SCHFA Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 36. California Homebuyer Assistance Wrap Up & Take Aways Community Programs ★ Community Programs are Back ★ Offered on Level Playing Field ★ More From CalHFA This Year ★ Creative Solutions are Available ★ Creative Lender is Key Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © Educating and Empowering since 1988 www.BMCLB.com
  • 37. Educating and Empowering since 1988 ! Thank You for Attending! Links to check eligibility and additional resources below Use Questions & Answers box for real time response, or call (888) 808-8062 or email: ScottS@BroadviewMortgage.com Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act License #4130745; Equal Housing Lender. Registered with the Nationwide Mortgage Licensing System and Registry, Broadview Mortgage #170528 Long Beach Branch DOB# 813K754 NMLS# 965157 ! Broadview Mortgage Long Beach. All Rights Reserved. Equal Housing Opportunity Lender © www.FindMyWayHome.com