06 May 2022

California’s Forgivable Equity Loan could help you get a home

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This program allows qualified, first-time home buyers to borrow up to 10% of a home’s purchase price, and have the debt forgiven if the buyer lives in the home for five years.

This loan can be applied to:

  • Single-family homes
  • Condominiums
  • Manufactured housing
  • PUD (planned urban development) homes
  • Guest houses, granny units and in-law quarters

“We found that a lot of people have enough money to make a monthly payment on a mortgage, but they don’t necessarily have that money saved up to make the down payment”.

Eric Johnson with California Housing Finance Agency.

To learn more or apply, visit CalHFA.

About the Author

I have been a Realtor for over 25+ years helping folks find their dream home.