Cal Access- As Low As 1/2 Percent Down Payment
CLS Financial Services Offers Cal Access
Little Money Down and No Out of Pocket Closing Costs
Maximum Financing up to 99.5% is Designed to Increase Homeownership Opportunities. $500,000,000 is available for second loan funding through CHF ( CRHMFA Homebuyers Fund)
Financing is available for Down Payment and Closing Costs
- First Mortgage: FHA 30 year fixed up to 96.5% LTV
- Second Mortgage: CHF 15 year fixed up to 3% of Purchase Price and 99.5% CLTV
- Note Rate 8.25%
- No Minimum Borrower Contribution Required
- Down payment of .5% can be Gifted Funds from Family Members
- Seller Contributiosn allowed up to 6% of Purchase Price
- Not Limited to First Time Home Buyers although Homebuyer Education is required
- No Minimum Fico is required (higher rates and fees may apply)
- Must be Owner Occupied. No Non-Occupying Co-Borrowers allowed
- SFR, Condo, and Town Homes allowed
- FHA Loan Limits
- Conforming up to $417,000
- Jumbo >$417,000 to $729,750
- Monthly Debt can not exceed 47% of gross income, depending on the FICO score
- Income Limitations per County: 120% Area Median
- Los Angeles County: $74,520
- Orange County: $103,320
- San Diego County: $116,160
- Riverside / San Bernardino Counties: $77,400
If you have questions about this loan program Please Click Here
If you would like to know if you qualify Please Click Here
If you would like to know if you qualify Please Click Here
