Home Loans California & Arizona

San Bernardino, CA FHA Purchase home loans

February 27th, 2020 7:49 AM by Nathan Rufty

The CalHFA FHA program is an FHA-insured loan featuring a CalHFA fixed interest rate first mortgage which servers San Bernardino. This loan is fully amortized for a thirty (30) year term and can be combined with either the MyHome Assistance Program (MyHome) or School Teacher and Employee Assistance Program (School Program). 



CAFHA Home Loan Benefits:
  • Works for San Bernardino 1st Time Home Buyers
  • 3.5% Down Payment
  • Lower Rates / Easier Qualifying
  • Low Credit Scores / Alt Credit OK
  • Down Payment Assistance
  • Gifts Allowed
  • Higher Debt to Income Allowed
  • Co -Borrowers Allowed
  • Streamline Refinance Available

San Bernardino CA FHA Purchase home loans borrower requirements:

  • Must have a minimum credit score of 660 for conventional low income rate loans and 680 for conventional standard rate loans
  • Debt-to-income ratio can’t exceed 45 percent or automated underwriting or 43 percent for manual underwriting
  • Must meet CalHFA’s income limits based on your specific area
  • In most instances, must be a first-time homebuyer and a U.S. citizen, permanent resident or qualified alien
  • Must attend a home buying counseling course and present a certificate of completion
  • Must meet any additional loan requirements of your CalHFA-approved lender and the mortgage insurer

San Bernardino Property requirements
  • Sales price can’t exceed $765,000
  • Property must be located within California and used as a primary residence until it’s refinanced or sold
  • Must be a single-family, one-unit home
  • Some condos, accessory dwelling units (guest houses and in-law quarters, for example), and manufactured homes are permitted
  • Land trusts and leaseholds aren’t eligible
  • Maximum lot size of 5 acres

Call now to get started on your CA FHA purchase home loan in San Bernardino.
Posted by Nathan Rufty on February 27th, 2020 7:49 AM

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