CalHFA FHA Loan Programs Matrix

Government First Mortgage Programs

CalHFA Government Loan Programs Matrix

Program Name

CalHFA FHA Loan Program

CalPLUSSM FHA Loan Program (used

exclusively with ZIP) Zero Interest Program (ZIP) (used exclusively

with CalPLUSSM) CalHFA VA Loan

Program

CalHFA USDA Loan Program

Max Loan Amount 1

Loan Type

Property Type

SFR and Condos

FHA county loan limits

203b, or 203k limited with or without EEM

SFR and Condos

AUS Requirement

DTI

DU approve/eligible or LPA Accept

45.00% 50.00% 45.00% 50.00%

Manual Underwriting 43.00%

FHA county loan limits

HUD 184

FHA county loan limits

203(h)

FHA county loan limits

203b, or 203k limited with or without EEM

2% or 3% of the total loan amount2

N/A

FHFA High-Cost Loan Limit

VA Guaranteed

Loan

USDA loan limits

USDA Guaranteed

Loan

Manufactured Homes

SFR, Condos or Manufactured Homes

SFR and Condos

SFR and Condos SFR and Condos

Manufactured Homes N/A

SFR and Condos

SFR and Condos

DU approve/eligible or LPA Accept

45.00%

Manual underwriting is required

DU approve/eligible or LPA Accept

DU approve/eligible or LPA Accept

Manual Underwriting DU approve/eligible or

LPA Accept

43.00%

45.00% 50.00% 45.00% 50.00% 45.00% 50.00%

43.00%

45.00%

N/A

N/A

DU approve/eligible or LPA accept

GUS Accept / Eligible

45.00% 50.00% 45.00% 50.00% 45.00%

50.00%

45.00% 50.00%

USDA loan limits

USDA Guaranteed

Loan

Manufactured Home (First Owner)

GUS Accept / Eligible

45.00%

Credit Score

640 700 640 700

660

660

660

640 700 640 700 640 700 660

660

N/A

640 700 640 700 640 700 640 700

660

First Time Homebuyer

Homebuyer Education Required

1-Year Home Warranty

Requirement

Yes

Yes

Yes

No

No

No

Yes

Yes

Yes

No

No

No

Yes

Yes

Yes

No

No

No

No

No

N/A

Yes

Yes

Yes

No

No

No

Layering Capabilities

FHA Approved Seconds/ MyHome

FHA Approved Seconds

FHA Approved Seconds/ MyHome

FHA Approved Seconds FHA Approved Seconds/

MyHome FHA Approved Seconds

FHA Approved Seconds/ MyHome

FHA Approved Seconds/ MyHome

Lien

LTV /

Position CLTV

1st

96.5% / 105%

1st

97.75% / 100%

1st

100% / 105%

Yes

Yes

Yes

Yes

Yes

Yes

No

No

Yes

Yes

No

No

Yes

Yes

No

No

Yes

ZIP (mandatory), FHA Approved Seconds, or MyHome

1st

96.5% / 105%

CalPLUSSM FHA (mandatory),

Yes

FHA Approved Seconds, or

3rd3

N/A

MyHome

Yes N/A

VA Approved Seconds/ MyHome

VA Approved Seconds

1st

100% / 105%

USDA Approved

Yes N/A

Seconds/MyHome USDA Approved Seconds

1st

100% / 105%

USDA Approved

Yes N/A

Seconds/MyHome USDA Approved Seconds

1st

100% / 105%

Allowable Lender Fees

3% or $3,000 whichever is

greater

3% or $3,000 whichever is

greater 3% or $3,000 whichever is

greater

3% or $3,000 whichever is

greater

$50 fee

3% or $3,000 whichever is greater or VA maximum fee requirements

3% or $3,000 whichever is

greater

3% or $3,000 whichever is

greater

FHA =3.5%

MyHome Assistance Program (MyHome)

USDA/VA = 3% of appraised value/sales

N/A

N/A

price whichever is less

N/A

N/A

N/A

Yes

Yes

N/A

Must be combined with a CalHFA first mortgage

2nd

N/A

Max $250 Fee

Subordinate Mortgage

1 First Mortgages in which the base loan amount exceeds $726,200 are considered a High Balance Loan and are subject to an additional fee. See rate sheet for pricing. 2 ZIP Must be used for closing costs and prepaid items only. Any funds due to the borrower from ZIP financing must be applied to ZIP principal reduction. 3 If MyHome is not used in Conjunction with a CalPLUS then ZIP must be in 2nd position

NOTE: This is a tool for basic information purposes only and is subject to change. It does not replace CalHFA program descriptions, manuals, or bulletins. CalHFA Income limits apply.

Updated: 1/1/2023

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