California FHA Access Offers a .5% Down Payment Financing Option

The FHA Access Program now can benefit California Homebuyers with the opportunity to purchase an owner occupied primary residence with little (.5%) for down payment. The program combines the traditional FHA 30 Year Fixed 3.5% down loan with a 3% second loan. The second loan is a 15-year fully amortized loan. The lower down payment offers homebuyers the opportunity to get back in the housing market sooner than the traditional FHA loan program.

Program Example

  • Purchase price $300,000
  • 1st loan amount 96.5%
  • 2nd loan 3.5%
  • Total financing 99.5%
  • Down payment .5%

Program Guidelines

  • Eligibility: Borrowers must owner occupy the subject property.  No first time home buyer requirement.  Maximum income requirements apply (120% of HUD Area Medium Income).
  • Property Eligibility: Single Family Residences, PUDs, and FHA approved condos.
  • Credit Score: No minimum credit score required.

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