The California Housing Finance Agency (CalHFA)

The California Housing Finance Agency (CalHFA) has as its mission to finance below market rate loans to create safe, decent and affordable rental housing and to assist first-time homebuyers in achieving the dream of homeownership.

To accomplish its goal, the agency has four separate divisions: homeownership programs, mortgage insurance, multifamily finance and small business development. All of the agency s programs are targeted to renters and homebuyers that meet five criteria: first-time homebuyer purchasing a primary residence, intend to occupy the property, HUD income limits, credit and loan requirements of the participating lender and mortgage insurer, and a U.S. citizen or permanent resident alien.

CalHFA funds most of its activities with Proposition 46 money. It administrates programs such as the California Homebuyer s Downpayment Assistance Program (CHDAP) and the Extra Credit Teacher s Home Purchase Assistance (Extra Credit Teacher Program).

Funding, is directly channeled to consumers (through approved financial institutions) in the form of down payment assistance, financing and mortgage insurance. Also, to maximize homeownership opportunities, the agency cultivates partnerships and establishes new relationships within the affordable housing market place. Interested partners should contact CalHFA at 800.789.2432 or any of its divisions directly.


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