Sacramento Down Paymenrt Assistance
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Sacramento Down Payment Assistance Mortgage Lender
As a direct Sacramento Mortgage Lender, Capital Home Mortgage Sacramento is a Sacramento Down Payment Assistance Program Lender offering Sacramento Down Payment Assistance Programs. As the Sacramento Mortgage Company we manage the entire lending process from start to finish. With in-house processing and underwriting, we provide quick, common-sense approvals and timely closings.
Give us a call today at (888) 620-7744 to speak with one of our knowledgeable Sacramento Loan Officers and get started on your path to homeownership!
Sacramento Housing and Redevelopment Agency (SHRA)
The CalHome Program is a state-funded initiative administered by the Sacramento Housing and Redevelopment Agency (SHRA) that provides financial assistance to low- and moderate-income first-time homebuyers. The program is funded by the California Department of Housing and Community Development (HCD) and aims to make homeownership more accessible by addressing affordability challenges in Sacramento and surrounding areas.
Key Features of the SHRA Program
Sacramento Financial Assistance
- Deferred Payment Loans: Offers loans for down payment and/or closing cost assistance.
- Loan amounts vary but can go up to $100,000, depending on program funding.
- No monthly payments are required while the homeowner occupies the property as their primary residence.
- Interest Rates: Loans are typically 0% interest, making the program affordable for participants.
- Repayment Terms: Deferred until the property is sold, refinanced, or no longer the homeowner’s primary residence.
Sacramento DPA Eligibility Requirements
- First-Time Homebuyer: Applicants must not have owned a home in the last three years.
- Income Limits: Household income must not exceed 80% of the Area Median Income (AMI), as defined by the state.
- Primary Mortgage: Applicants must qualify for and secure a first mortgage loan.
- Homebuyer Education: Completion of a HUD-approved homebuyer education course is required.
- Asset Limits: Applicants must meet asset thresholds to ensure assistance is provided to those most in need.
Sacramento Eligible Properties
- Property Location: Must be located within the jurisdiction covered by SHRA.
- Property Types: Single-family homes, condominiums, townhomes, or manufactured homes on permanent foundations.
- Purchase Price Limits: Properties must fall within program-defined purchase price limits, which are updated annually.
Sacramento DPA Application Process
- Pre-Screening: Applicants complete a pre-screening to determine basic eligibility.
- Complete Homebuyer Education: Attend a HUD-approved course and obtain a completion certificate.
- Work with a Participating Lender: Secure pre-approval for a primary mortgage loan through a CalHome lender.
- Submit an Application: Apply for assistance through SHRA once under contract for an eligible home.
- Verification and Approval: SHRA reviews the application and ensures compliance with program guidelines.
Sacramento DPA Program Benefits
- Makes homeownership achievable for low-income families.
- Reduces upfront costs, which are often the biggest barrier to homeownership.
- Deferred payments mean borrowers do not face an additional financial burden while living in the home.
Important Considerations of the Sacramento DPA
- Limited Funding: CalHome funds are distributed on a first-come, first-served basis and may be limited.
- Affordability Restrictions: Homes purchased with CalHome assistance have restrictions on resale to maintain affordability.
- Primary Residence Requirement: Assistance is only available for homes that will serve as the buyer’s primary residence.
For more details, including current income and purchase price limits, visit the SHRA CalHome Program webpage or contact the Sacramento Housing and Redevelopment Agency directly.
Sacramento Mortgage Team
Why Sacramento is Choosing Capital Home Mortgage
Close On Time
Complete Control from Application to Funding
Competitive Rates & Low Fees
Direct Lender with Competitive Rates & Fees
Exceptional Service
7 Day a Week Support Application to Funding
Sacramento Mortgage Company Reviews
California Mortgage Programs
California Purchase Home Loans
Looking to Purchase in California?
- Primary, 2nd Home, Investment
- Low Rates & Fees, No fee Options
- FHA, VA, USDA, Native American
- Conventional, Jumbo & Renovation
- Manufactured, Construction, Reverse
California Refinance Home Loans
California Rate & Term Refinance
- Lower Monthly Payment
- Shorten Mortgage Term
- Streamline Options Available
- Appraisal Waivers Allowed
- VA IRRRL’s
California Cashout Home Loans
California Equity Cash Out Mortgage
- Debt Consolidation
- Investment Opportunities
- Home Improvement
- Dream Vacation
- Higher Education
California Reverse Home Loans
Your California Home at Work for You
- Primary Residence Only
- Simple Qualifying – Equity Based
- No Credit Score Requirements
- Minimum Age 62
- Purchase, Refinance, and Cash-Out
California FHA Home Loans
Great First Time California Homebuyers
- Smaller Down Payments
- Flexible Underwriting Guidelines
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Down Payment Gifts Allowed
California VA Home Loans
100% Financing for California Veterans
- No Mortgage Loan Limits
- Simple Qualifying
- Higher Debt to Income Allowed
- Lower Credit Scores – Down to 500
- Manual Underwriting Allowed
California USDA Home Loans
California Rural Home Mortgages
- Primary Residences
- No Down Payment Required
- New Manufactured Homes Allowed
- Closing Costs / Repairs Rolled In
- Geographic and Income Limits Apply
California Native American Loans
California Hud 184 Home Mortgage
- Primary Residence Only
- Manual Underwriting for All Loans
- No Credit Score Requirements
- Tribal Grants Allowed
- Purchase, Refinance, and Renovation
California Conventional Home Loans
Flexibility for California Homebuyers
- Primary, 2nd Home, Investment
- Single and Multi-Family Properties
- Variable Mortgage Insurance Options
- Low Rates & a Variety of Terms
- Renovation Programs Available
California Jumbo Home Loans
California Non-Conforming Mortgages
- Primary & 2nd Homes
- Variety of Mortgage Programs
- Simple Qualifying for Veterans
- Investor Specific Guidelines
- Credit Score Minimums
California Construction Home Loans
Build Your California Dream Home
- Primary Residences Only
- One Time Close
- Lock Rate at Closing
- Traditional Final Mortgages
- No Payments During Construction
California Renovation Home Loans
Looking to Renovate a California Home?
- Remodel, Renovate or Repairs
- FHA 203K Streamline
- FHA Full Documentation Rehab
- Fannie Mae Homestyle Reno
- Freddie Mac Home Choice Reno
California Non QM Home Loans
Making California Mortgages Possible
- Purchase, Refinance & Cash-out
- Primary, Secondary, Investment
- Full Doc Programs
- Alt Doc Programs
- Corporations OK
California Chattel Home Loans
Loans for Just Your California Home
- Home Only Mortgage Loan
- Mobile Home Parks
- Private Land
- Minimum Credit 550
- Purchase, Refinance, and Cash-Out
California Manufactured Home Loans
Great California Affordable Housing
- Existing Purchase or Refinance
- New Construction
- One Time Close Land/Home Combo
- Lock at Contract
- FHA, VA, USDA, Native American
California Disaster Relief Home Loans
Helping California Homeowners Recover
- Purchase a New Home
- Primary Residence Only
- Minimum Credit 580
- Maximum LTV 100%
- Maximum County Loan Limits Apply