First Time HomeBuyers-New FHA Program

A new  FHA  first time homebuyer program has been released this week.  CHF Access allows for a ” one half of one percent downpayment”  vs. the current  minimum downpayment requirement of 3.5%.  If the potential buyer has minimal debt obligations,  it may be possible to support sales prices up to $325,000 using a sample 5.000%  for a current market interest rate.  Homebuyers are responsible for closing costs and seller contributions are allowed to help pay some of the closing costs.    The program is offered only in the State of California and is subject to median income restrictions.    For more information, please send email to cdavis@guildmortgage.net