CalHFA Conventional Loan Programs Matrix
Conventional First Mortgage Programs
CalHFA Conventional Loan Programs Matrix
Program Name
Max Loan Amount
Loan Type
Property Type Credit Score
SFR and Condos
6803
CalHFA Conventional
Loan Program1
Conforming Loan Limits2
HFA Preferred, Homestyle EEM
Manufactured Homes - MH Advantage
Manufactured Homes -
Standard MH
6803 6803
LTV / CLTV
First Time Homebuyer
Homebuyer Education Required
Yes
Yes
97% / 105%
No
No
Yes
Yes
97% / 105%
No
No
Yes
Yes
95% / 105%
No
No
1- Year Home Warranty
Requirement Yes
No
Yes
No Yes
No
Layering Capabilities
Lien Position
Fannie Mae Community Seconds/ MyHome
Fannie Mae Community Seconds
Fannie Mae Community Seconds/MyHome 1st
Fannie Mae Community Seconds
Fannie Mae Community Seconds/MyHome
Fannie Mae Community Seconds
Max DTI
Mortgage Insurance Requirements
AUS Requirement
45.00%
Standard MI Rates
Fannie Mae Low Income (LI)
borrowers are eligible for Reduced MI Rates
DU approve/eligible only No Manual
Underwriting allowed
Allowable Lender Fees
3% or $3,000 whichever is
greater
SFR and Condos
6803
97% / 105%
CalPLUSSM
Conventional Loan
Program1 (used
Conforming Loan Limits2
HFA Preferred, Homestyle EEM
Manufactured Homes - MH Advantage
6803
97% / 105%
Yes
Yes
exclusively
with ZIP)
Manufactured
Homes -
6803
95% / 105%
Standard MH
Standard MI
Yes
ZIP (Mandatory), Fannie
Mae Community
1st
Seconds/MyHome
45.00%
Rates Fannie Mae Low Income (LI) borrowers are eligible for Reduced MI
DU approve/eligible only No Manual
Underwriting allowed
3% or $3,000 whichever is
greater
Rates
Zero Interest
Program
(ZIP) (used 2% or 3% of the
exclusively
first mortgage
N/A
with
loan amount4
CalPLUSSM
Conventional)
CalPLUSSM Conventional
N/A
N/A
N/A
Yes
Yes
Yes
(mandatory), Fannie Mae Community Seconds/
3rd5
N/A
N/A
N/A
$50 fee
MyHome
Subordinate Mortgage
MyHome
Assistance Program
Lessor of 3% or $15,0006
N/A
(MyHome)
N/A
N/A
N/A
Yes
Yes
N/A
Must be combined with a CalHFA first mortgage
2nd
N/A
N/A
1 Lower Interest rates and Mortgage Insurance Coverage Requirements are available for borrowers that meet Fannie Mae's HomeReady ................
................
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