CalHFA VA Loan First Time Home Buyer Program

Program Eligibility

Am I eligible to apply for this program?
Review the guidelines below for both “Borrower” and “Property” Requirements to determine if you may be eligible to apply for the CalHFA VA Program.

Borrower Requirements

• Occupy the property as a primary residence; non-occupant co-borrowers are not allowed.
• CalHFA borrowers must complete homebuyer education counseling and obtain a certificate of completion through an eligible homebuyer counseling organization.
• Meet CalHFA income limits for this program.
• Present a valid certificate of eligibility per VA guidelines.

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Property Requirements

• Be a single-family, one-unit residence, including approved condominium/PUDs
  • Guest houses, granny units and in-law quarters may be eligible
• Manufactured housing is not permitted
• Condominiums must meet the guidelines of the first mortgage
• There is a five acre maximum on the size of the property

*In the case of conflicting guidelines, the lender must follow the more restrictive.

Homebuyer Education Requirement

CalHFA firmly believes that homebuyer education and counseling is critical to the success and happiness of a homeowner, and requires homebuyer education and counseling for first-time homebuyers using a CalHFA program.

Who has to take this Homebuyer Education and Counseling course?

Only one occupying first-time borrower on each loan transaction.

How do I take this education and counseling course?

• • ONLINE: eHome’s eight-hour Homebuyer Education and Counseling course is the only online course accepted by CalHFA. (fee: $99) Other online courses like Frameworks are not acceptable because they do not provide a one-hour, 1-on-1 counseling follow-up session.

• IN-PERSON: face-to-face Homebuyer Education and Counseling through NeighborWorks America or any HUD-Approved Housing Counseling Agency
  (fee: varies by agency)